First National Bank South Dakota is an affiliate bank of First National of Nebraska

First National of Nebraska

First National of Nebraska is a privately held, interstate bank holding company based in Omaha, Nebraska, USA. The largest banking subsidiaries are First National Bank of Omaha, First National Bank Colorado, First National Bank Kansas and First National Bank South Dakota. First National of...

 and is headquartered in Yankton, South Dakota

Yankton, South Dakota

Yankton is a city in, and the county seat of, Yankton County, South Dakota, United States. The population was 14,454 at the 2010 census. Yankton was the original capital of Dakota Territory. It is named for the Yankton tribe of Nakota Native Americans...

. First National Bank South Dakota was established 1962 as Valley State Bank, and has been a member of the FDIC since October 5, 1962.

Family Roots

In 1962, Valley State Bank was chartered in Yankton, South Dakota. Valley State Bank was considered a hometown bank, serving the city of Yankton and its surrounding areas. Led by President Erling Haugo, the family-owned bank’s main objective was to provide a variety of financial services to its customers. The bank started with a total capitalization of only $300,000.

In the early 80s, Valley State Bank was purchased by First National of Nebraska

First National of Nebraska

First National of Nebraska is a privately held, interstate bank holding company based in Omaha, Nebraska, USA. The largest banking subsidiaries are First National Bank of Omaha, First National Bank Colorado, First National Bank Kansas and First National Bank South Dakota. First National of...

, owned primarily by the Lauritzen Family. This incorporation led to many changes including the construction of a new facility and a name change to First National Bank South Dakota in 1994. Originally as an anchor for the bank’s Credit Card division, the bank gained momentum of its own and became a market leader.

Continued Growth

In 1997, the bank set its sights on Sioux Falls, SD, purchasing property for future development and opening a loan serving office. In 1999, First National Bank South Dakota merged with Commercial Bank of Mitchell. With that merger came banking locations in Mitchell, Huron, and Woonsocket, South Dakota as well as over 100 years of business excellence in the Mitchell area.

The merger of the two banks not only strengthened both banks, but solidified the financial commitments to the communities. Together they are offering new innovative services, expanded lending practices, and continued community investment to sustain continued growth.

The bank continued to grow, and opened a new processing center and highly successful Dealer Lending program in Sioux Falls in the Fall of 2000. More growth is on the horizon as First National Bank seeks to reach out to more customers looking for comprehensive financial services. The development of a banking presence in Sioux Falls along with the continued growth and expansion of existing Sioux Falls operations has indicated a very positive future for the bank.

Branches

First National Bank South Dakota was formed on October 5, 1962 with their original name of Valley State Bank. Their name changed to their current name on July 19, 1994. Commercial Trust And Savings Bank in Mitchell, South Dakota

Mitchell, South Dakota

-Demographics:As of the census of 2000, there were 14,558 people, 6,121 households, and 3,599 families residing in the city. The population density was 1,475.7 people per square mile . There were 6,555 housing units at an average density of 664.4 per square mile...

was acquired by First National Bank November 5, 1999.