CFBX Community First Bankshares (MM)

Community First Earnings Scheduled for Release in 10-Q FARGO, N.D., July 14 /PRNewswire-FirstCall/ -- Community First Bankshares, Inc. (NASDAQ:CFBX) announced today that the company does not intend to issue an earnings press release prior to the filing of its 10-Q for the second quarter. On March 16, BancWest Corporation and Community First announced a definitive merger agreement pursuant to which BancWest will pay $32.25 for each Community First share in a cash transaction valued at $1.2 billion. Community First shareholders approved the merger at the company's annual meeting on June 30. The parties are awaiting approval of the Federal Reserve and intend to close the transaction as soon as practicable following receipt of such approval. If the transaction has not closed when the 10-Q is due in August, the company's results for the second quarter will be released in Community First's 10-Q when it is filed with the Securities and Exchange Commission. Community First Bankshares, a $5.5 billion financial services company, provides a complete line of banking, investment, insurance, mortgage and trust products to individuals and businesses. The company's extensive offering of financial products and services is marketed through full-service offices in 138 communities in 12 states -- Arizona, California, Colorado, Iowa, Minnesota, Nebraska, New Mexico, North Dakota, South Dakota, Utah, Wisconsin and Wyoming. The company's services include an online banking system that offers electronic bill payment and discount brokerage capabilities, telephone banking and an extensive ATM network. Community First Bankshares stock is traded on The Nasdaq Stock Market(R) under the symbol CFBX. The latest investor and other corporate information is available at its Web site, http://www.communityfirst.com/ . This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. The company wishes to caution readers not to place undue reliance on any such forward- looking statements, which speak only as of the date made. Factors that could cause actual results to differ from the results discussed in the forward- looking statements include, but are not limited to: risk of loans and investments, including dependence on local economic conditions; competition for the company's customers from other providers of financial services; possible adverse effects of changes in interest rates; execution and implementation of a series of previously announced strategic initiatives; balance sheet and capital ratio risks related to the share repurchase program; risks related to the company's acquisition and market extension strategy, including risks of adversely changing results of operations and factors affecting the company's ability to consummate further acquisitions or extend its markets; and other risks detailed in the company's filings with the Securities and Exchange Commission, all of which are difficult to predict and many of which are beyond the control of the company. DATASOURCE: Community First Bankshares, Inc. CONTACT: Jeff Wilhoit of Financial Relations Board, +1-312-640-6757, , or Mark A. Anderson of Community First Bankshares, Inc., +1-701-298-5600, Web site: http://www.communityfirst.com/

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