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Show SBSU Acquires Richfield Bank RICHFIELD State Bank of Utah, Cedar City and Community First Bankshares, Inc. (Nasdaq: CFBX-News) are . pleased to announce an-nounce a purchase and assumption . agreement for State Bank to acquire the Richfield branch of Community First Bank. The acquisition is expected ex-pected to close in January of 2000, subject to regulatory approval. "We are pleased to announce the sale of our Richfield office to State Bank of Southern Utah. State Bank represents a good fit for our branch employees and customers and will be a good steward of the bank in the months and years ahead," said Donald Don-ald R. Mengedoth, president and chief executive officer of Community Commu-nity First. "We are very excited to have the opportunity to serve the people of Richfield and Sevier County," said Ron Heaton, president and chief executive officer of State Bank. "We will provide a wide range of financial products and services with that home town, personal touch that State Bank is noted for in southern Utah. State Bank wants to be a part of the growth and development de-velopment of Sevier County for many years to come. We've been committed to community banking for 42 years and expect to continue that tradition. Heaton said that "everyone in Sevier County knows Community First (formerly Valley Central Bank), and we believe our new staff can build on the traditions of past community banking. Richfield is like an old friend to most , of us because some of our officers and employees are former residents and many of us participated in regional (See SBSU BANK on Page 7A) SBSUBANK From Front Page high school events there." State Bank of Southern Utah is a locally owned Utah-chartered financial fi-nancial institution with approximately approxi-mately $206 million in assets. It currently has nine banking locations loca-tions in southern Utah with headquarters head-quarters in Cedar City. State Bank is recognized as a strong, small business, agricultural and consumer lender, staying on the technological edge with such services as Internet Banking (web site www.sbsu.com) and 24-hour telephone banking. The current audited statements of the bank are available by calling (435) 865-2300 or making an e-mail e-mail request to infosbsu. Community First Bankshares, Inc., a $6.3 billion multi-bank holding company, operates full service banking offices in 158 communities in Arizona, California, Califor-nia, Colorado, Iowa,, Minnesota, Nebraska, New Mexico, North Dakota, Da-kota, South Dakota, Utah, Wisconsin, Wiscon-sin, and Wyoming. With completion comple-tion of a pending acquisition in Minnesota, Community First will serve a total of 159 communities in 12 states. The company offers a diverse array of financial services, including, investments, insurance, mortgage and trust, with a focus on small business lending. Community Commu-nity First's stock is traded on the Nasdaq Stock Market under the symbol CFBX. The latest investor and other corporate information is available online via the Internet at its web site, www.cfbx.com. |