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Article: Afraid of Grinch Image, N.D. Bank Delays Buying Banc One Branches till After Holidays. (Community First Bankshares acquisition of 37 Banc One Corp. branches)(Brief Article)
- Article from:
- American Banker
- Article date:
- November 6, 1997
- Author:
CopyrightCOPYRIGHT 1997 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Community First Bankshares said it will delay closing its purchase of 37 Banc One Corp. branches so it doesn't anger customers before the December holidays.
Fargo, N.D.-based Community First was scheduled to close the $38 million deal in mid-December.
But Donald R. Mengedoth, president and chief executive officer at $4.2 billion-asset Community First, said he was concerned that the company wouldn't have time to distribute new automated teller machine cards to Banc One's former customers. He said he didn't want to hit customers with sudden changes in service during the busiest shopping and travel time of the year.
"People could be out shopping over the ...