People Bank of Commerce acquired by North Dakota bank

Brookings, North Dakota-based First Bank & Trust (FB&T) has announced the signing of an agreement to acquire two banks, Peoples Bank of Commerce and State Bank of New Prague, both owned by the Duke Financial Group (DFG) of Minneapolis.
Peoples Bank of Commerce, with assets of $296 million, has locations in Cambridge, Princeton, East Bethel, Edina and Roseville. State Bank of New Prague has one location and assets of $112 million. With the acquisition, the name of the banks will change to First Bank & Trust.