SIOUX FALLS, S.D. - HF Financial Corp and Bankfirst Corp. have axed a deal that called for HF Financial to acquire two Bankfirst branches.

A letter of intent announced in April said that $537 million-asset HF Financial would acquire the $80 million-asset Bankfirst's branches in Brookings and Toronto, S.D.

Both companies recently announced that they "mutually agreed to focus their efforts on other organizational and strategic opportunities," according to a prepared statement.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.