Adjusting its management after a growth spurt, Community First Bankshares on Thursday promoted two executives and created an office of the chairman.
The executives will take over some responsibilities from Donald R. Mengedoth, the $6 billion-asset company's chairman and chief executive.
Noting that the company's size has doubled in two years, Mr. Mengedoth said he no longer has time to oversee Community First's day-to-day operations. He said he wants to devote more time to the company's acquisition strategy and long-term planning.
Ronald K. Strand was promoted to vice chairman of the financial services division and is responsible for Community First's nonbanking subsidiaries, marketing, and human resources. He previously was executive vice president.
Mark A. Anderson assumed the vice chairman of corporate services title and heads Community First's operations and administration. Mr. Anderson will also continue as chief financial officer.
The fourth member of the office of the chairman is Bruce A. Heysee, senior vice president for acquisitions.