Community First to buy Colo. bank

Northwestern Financial Review, Oct 18, 1997

Farm lending in North Dakota showed a solid increase in the first quarter, according to the Independent Community Banks of North Dakota. First quarter statistics released by ICBND showed that farm operating loans by the organization's 96 member banks went up 11.1 percent to $718.4 million, compared to the same three-month period in 1996. Farm real estate loans increased by 10.6 percent to $257 million, compared to the first quarter of 1996. This increase in farm lending is higher than the national average, which showed that agricultural loans for real estate and production increased only 6.7 percent among 3,247 farm banks for all of 1996. "This increase in farm credit tells us that our independent community bankers continue to show positive confidence in the state's farmers and ranchers, many of whom have been hit hard with severe crop and cattle losses because of flooding and the severe winter weather," said ICBND President Robert Sorenson, Scandia American Bank in Stanley.

"Livestock, grains, sugar and potatoes are the backbone of our agricultural economy," he said. "It's important that we as rural bankers support our farmers and ranchers."

PERSONNEL

Mark Weide was promoted to senior vice president and head of business banking at First Southwest Bank Mandan. Weide joined the bank in May 1996. He previously served at First Southwest Bank Oakes and has 18 years of banking experience. Weide attended Northern State College in Aberdeen, S.D.