Magazine article Independent Banker

Operating in Six States

Magazine article Independent Banker

Operating in Six States

Article excerpt

First Savings Bank, with its corporate charter in Beresford, S.D., has been in business for more than 100 years. Today we have 22 locations in six states. We operate in South Dakota, Nebraska, Nevada, New Mexico, Texas and Arizona. The distance from our Beresford bank to our banks in El Paso, Texas, is about 1,200 miles, which makes management a challenge at times.

Our bank's footprint has always been commercial and agricultural lending. We have a credit-card operation as well. More than half of our locations are in small rural communities, mostly in South Dakota and New Mexico. The last couple of years have been a struggle for our agricultural producers, with lower commodity prices that, in turn, affect Main Street in our rural communities, which struggle just to survive.

We operate in communities with populations of less than 100 people to metro markets with populations of 500,000, such as Las Vegas, Omaha and El Paso. Ownership does not believe in a lot of brick-andmortar in these markets and relies on relationship banking as opposed to billboards and other forms of marketing. Our philosophy is great customer service and bringing the bank to the customer. This is also made easier today with technology such as merchant capture, mobile capture, mobile banking and online banking.

We have more than 150 employees who are very loyal and knowledgeable, with numerous employees who have worked for the bank for more than 25 years. It's all about surrounding ourselves with good people who are willing to change in an everchanging banking environment. As spread out as we are geographically, we have to empower and trust our people as well as having detailed policies to follow. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.