FARGO, N.D. - Community First Bankshares has completed the acquisition of First Community Bankshares, a five-bank, $153 million-asset Colorado holding company, in a deal valued at about $20.3 million.
Community First exchanged nearly 1.2 million shares of its common stock for all of First Community's outstanding shares.
Community First, which has $2.2 billion in assets, also acquired the Colorado company's minority 4.35% interest in First National Bank of Telluride, Colo.
Charles L. Ferguson, former chairman and chief executive of First Community, has been named senior vice president of Community First.