Community First Bankshares of Fargo, N.D., said it has a deal to buy River Bancorp. in Ramsey, Minn., for an undisclosed sum.

The acquisition would bring Community First into the Twin Cities region for the first time. It is expected to close in the fourth quarter.

River, the parent of $36 million-asset Northland Security Bank, is based in fast-growing Anoka County.

Community First is a $6 billion-asset multibank holding company with more than 150 branches in 11 states. It is also to expand into California this year by purchasing Valley National Bank in El Cajon.

Community First already operates one Minnesota bank, in Fergus Falls, in the northwest of the state.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.