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Fargo Bank To Enter Benefits Market

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State Bankshares Inc. is in the process of acquiring Passport Benefit Solutions L.L.C.

State Bankshares, Fargo, N.D., runs a regional bank holding company with about $1 billion in assets.

Passport Benefit, Minnetonka, Minn., sells employee benefits consulting services and related data processing services.

A notice of State Bankshares’ interest in buying Passport Benefit appears today in the Federal Register.