June 28--A Fargo banking group with a Grand Forks office will merge with a New Town, N.D., bank, the Fargo company announced Friday.
Cornerstone Holding Co. has reached a merger agreement with Lakeside Bank Holding Co. of New Town, effective in late 2014, according to a press release. Cornerstone had $238.2 million in assets as of March 31, and Lakeside had $374.2 million at the same time.
The deal makes Cornerstone one of the 10 largest financial institutions in the state, according to the statement.
Cornerstone operates a mortgage production office in Grand Forks.
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