State Bank holding company buying First National 18 Jan 12

FARGO, N.D. (AP) – The holding company that owns State Bank & Trust in Fargo is in the process of buying First National Bank, which has locations in the Minnesota cities of Hawley and Dilworth.

The purchase by State Bankshares is subject to regulatory approval.

State Bank & Trust Chairman and CEO Richard Solberg says First National Bank has $93 million in assets, and about 20 employees in Hawley and Dilworth.

State Bank & Trust has $2 billion in assets. It operates 14 bank locations in North Dakota and Minnesota.

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