FARGO, N.D. - Community First Bankshares said it has completed the purchase of a 24.75% minority interest in Bank of Colorado Holding Co., which owns Vail Bank in Vail, Colo.

Community First purchased the stake for $3.7 million in cash. It simultaneously sold $82 million-asset Vail Bank to the Vail branch of Colorado Community First State Bank of Steamboat Springs, which had yearend deposits of about $6.2 million. Vail Bank is the second-largest bank in Vail and operates branches in Denver and Avon, Colo.

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