FARGO, N.D. - Community First Bankshares has signed an agreement to acquire the capital stock of Farmers and Merchants Bank of Beach, N.D. The terms of the deal were not disclosed.

After it completes the acquisition of another bank's Beach branch, Farmers & Merchants will have $47 million of assets.

The transaction is subject to regulatory approval.

Community First has $2 billion of assets and has several acquisitions pending that would add $240 million more.

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