Community First earnings down from previous year

Community First Bankshares Inc.

Community First Bankshares Inc. Thursday reported its second quarter income was down compared to the same period a year ago.

The Fargo-based financial services company brought in $19.1 million in revenue for the three-month period ended June 30, compared to $19.9 million one year prior, according to filings with the Securities and Exchange Commission.

Community First Bankshares (NASDAQ: CFBX) reported earnings of 49 cents per share for the quarter, the same amount paid for the quarter in 2002.

Company president and CEO Mark Anderson said Community First Bankshares during the quarter experienced "modest commercial loan demand brought about by a continued lackluster economy."

Total loans as of June 30, were $3.4 billion, down 6.21 percent from one year ago.


"Once interest rates stabilize and the economy improves, we will be well-positioned for future growth opportunities," Anderson said.

Community First Bankshares is a $5.6 billion financial services company providing banking, investment, insurance, mortgage and trust services in 136 communities in 12 Western states.

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