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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 28, 1998
COMMUNITY FIRST BANKSHARES, INC.
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(Exact name of Registrant as specified in its charter)
Delaware 0-19368 46-0391436
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
520 Main Avenue
Fargo, North Dakota 58124-0001
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (701) 298-5600
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Item 5. OTHER EVENTS.
On April 28, 1998, the shareholders of the Company approved an increase
in the authorized shares under the Restated Certificate of Incorporation.
This increase facilitated a two-for-one split of the Company's common stock,
in the form of a 100 percent stock dividend payable to shareholders of record
on May 1, 1998, to be distributed on May 15, 1998. Accordingly, the
consolidated financial information shall be restated to reflect the impact of
the two-for-one split on the common share, weighted average common share and
basic and diluted earnings per share data. The following table presents
certain financial information from the data captioned "Financial Highlights"
on page 1 of the Company's 1997 Annual Report and from "Consolidated
Statement of Income - Five Year Sumary" on page 45 of the Annual Report, for
the periods shown, restated to reflect the impact of the stock split.
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<CAPTION>
Years Ended December 31 1997 1996 1995 1994 1993
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<S> <C> <C> <C> <C> <C>
Earnings per common and common equivalent share
Basic . . . . . . . . . . . . . . . . $1.26 $0.94 $0.92 $0.75 $0.67
Diluted . . . . . . . . . . . . . . . 1.22 0.90 0.87 0.70 0.65
Net Book Value. . . . . . . . . . . . 8.35 6.46 6.01 4.85 4.55
Dividend Paid . . . . . . . . . . . . .35 .29 .24 .22 .20
Average common shares outstanding
Basic . . . . . . . . . . . . . . . . 36,949,498 33,018,578 30,722,740 28,757,806 27,676,668
Diluted . . . . . . . . . . . . . . . 38,138,156 36,284,754 34,335,300 32,254,500 28,778,512
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
COMMUNITY FIRST BANKSHARES, INC.
By /s/ Mark A. Anderson
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Mark A. Anderson, Executive Vice President
and Chief Financial Officer
Dated: May 6, 1998
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