FARGO, N.D. -- Community First Bankshares said it has signed an agreement to acquire Ada Banc Shares, the holding company for Ada National Bank in Ada, Minn.

Terms of the transaction were not disclosed.

Ada National was chartered in 1914 and has $18 million of assets. Steven Tongen will continue as president of the Bank following the acquisition.

Community First serves 34 communities in Colorado, Minnesota, North Dakota, and South Dakota.

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