FARGO, N.D. -- Community First Bankshares said it will make its debut in Nebraska with an agreement to purchase Abbott Bank Group Inc. of Alliance for $29 million in cash.
The $1.4 billion-asset bank holding company will acquire $300 million-asset Abbott Bank, which has 11 offices in Nebraska.
Donald R. Mengedoth, president and chief executive, said in a news release that Community First will sell Abbott's national credit card operation, which has a $57.5 million portfolio.
Community First operates in Colorado, Minnesota, North Dakota, South Dakota, and Wisconsin and has other acquisitions pending in Iowa and Colorado.
