First Bank & Trust
First Bank & Trust is a privately held community bank operating 22 branches across South Dakota and Minnesota, delivering personal banking, commercial and agricultural lending, mortgages, and wealth management to consumers, businesses, and high-net-worth clients under parent Fishback Financial Corporation.
- Company typePrivate
- Founded1902
- HeadquartersBrookings, United States
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What First Bank & Trust does
First Bank & Trust is a privately held community bank founded in 1902 in White, South Dakota, headquartered in Brookings, and operating as a subsidiary of Fishback Financial Corporation. The bank serves consumer, small-to-mid-size business, agricultural, and high-net-worth clients through 22 physical branches across 17 communities in South Dakota and Minnesota, supplemented by the "BANKeasy" digital banking platform that includes online, mobile, and mobile wallet access (Apple Pay, Google Pay). Geographic coverage spans rural South Dakota hubs (Brookings, Watertown, Madison, Vermillion, Garretson, White), the Sioux Falls metro (multiple branches including Dawley Farms and I-229 locations), and the Twin Cities (Edina, Roseville), with additional Minnesota communities (Cambridge, Pipestone, New Prague).
The product portfolio uses a platform-plus-modules architecture: core personal and business banking (checking, savings, money market, CDs, debit/credit cards, mortgages, consumer and commercial loans), specialized industry solutions (agricultural banking and lending, commercial real estate financing, SBA loans), and fee-based services including cash management, merchant services, trust and estate planning, retirement plan administration, and factoring/equipment financing through the First Line Funding Group. Wealth management is delivered via a partnership with Raymond James Financial Services, which embeds advisors within the branch network. In May 2026, the bank launched the Shell Performance Elite World Mastercard, a co-branded credit card issued through a fintech partnership with Imprint under a Mastercard license — this is the bank's primary fintech integration to date and adds interchange/transaction-fee revenue.
Revenue mechanics follow a traditional community banking model. Net interest income from lending — residential mortgages, commercial loans, commercial real estate financing, and ag lending — is the dominant revenue stream, supplemented by fee-based income from deposit account servicing, mortgage origination, wealth management advisory fees, treasury/cash management services, and interchange income from the Shell co-branded credit card program. The go-to-market is sales-led and relationship-based, combining dedicated branch bankers, market presidents for South Dakota and Minnesota, certified wealth advisors (CTFA, CFP, CFA, AIF, CES designations), and a multi-channel marketing mix of organic social (Facebook, Instagram, YouTube, LinkedIn), local community engagement, real-estate/professional referral networks, and direct advisor-led consultations. Digital banking operates as a secondary self-service channel for existing customers.
First Bank & Trust firmographics
Firmographics- Name
- First Bank & Trust
- Legal name
- First Bank & Trust
- Website
- https://bankeasy.com
- Company type
- Private
- Founded year
- 1902
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- First Bank & Trust is a privately held community bank operating 22 branches across South Dakota and Minnesota, delivering personal banking, commercial and agricultural lending, mortgages, and wealth management to consumers, businesses, and high-net-worth clients under parent Fishback Financial Corporation.
- Ownership category
- akta.pro rank
First Bank & Trust industry classification
Industry- NAICS
- Commercial Banking (52211)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
- akta.pro secondary industries
- Real Estate (Commercial Property, REITs) (FSABACAH), Private Banking Lending (Securities-Backed, Real Estate, Structured Credit) (FSABADAE), Corporate & Institutional Trust Services (FSAAANAB)
Keywords
Where First Bank & Trust is headquartered
LocationHeadquarters
- HQ city
- Brookings
- HQ country
- United States
- HQ region
- North America
Offices12 records
Markets served
First Bank & Trust business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Interest Income: Traditional banking revenue from lending activities including consumer loans, mortgages, commercial loans, and agricultural financing
- Credit Card Revenue: Revenue from co-branded credit card partnerships including Shell Performance Elite World Mastercard, including interchange fees and merchant commissions
- Fee-Based Services: Banking service fees including account maintenance, transaction fees, wealth management advisory fees, and mortgage origination fees
- Commercial Banking Services: Business checking, cash management, merchant services, SBA loans, and commercial real estate financing
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Personal banking accounts with various checking, savings, and money market options |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
First Bank & Trust product offering
Product offeringCore offering
First Bank & Trust is a community bank offering personal banking (checking, savings, credit cards, mortgages), business banking (commercial lending, cash management, SBA loans), agricultural banking, and wealth management (investment, trust, estate planning). The bank operates through 22 branch locations across South Dakota and Minnesota complemented by digital and mobile banking channels.
Product overview
First Bank & Trust operates as a community bank offering a comprehensive suite of banking products through a platform-plus-modules architecture. The core offerings include Personal Banking (checking, savings, credit cards, mortgages), Business Banking (commercial lending, cash management, SBA loans), and Wealth Management services. The bank provides specialized industry solutions for agriculture and commercial real estate, along with partnership services through Raymond James for investment management and financial planning. Digital banking capabilities are offered through web and mobile platforms with mobile wallet integration. The product portfolio includes proprietary and co-branded credit cards including Shell-branded cards, and specialized financing services like equipment leasing and factoring through First Line Funding Group.
Differentiator
Problem solved
Functional benefit
Brands
- BANKeasy: Digital banking platform and brand used for the bank's online and mobile banking services
Companies that use First Bank & Trust
Customer profileSegments5 records
Ideal customer profiles1 record
First Bank & Trust technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
First Bank & Trust partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- ImprintcoreImprint is the fintech partner providing digital infrastructure and cardholder experience for the Shell Performance Elite World Mastercard. The partnership enables First Bank & Trust to offer a modern digital credit card platform with mobile wallet support, real-time transaction notifications, and digital account management.
- ShellcoreShell partnered with First Bank & Trust and Imprint to launch the Shell Performance Elite World Mastercard co-branded credit card. The card offers cashback rewards redeemable as statement credits toward Shell purchases, deepening customer loyalty by rewarding everyday spending beyond fuel purchases.
- MastercardcoreMastercard provides the payment network license for the Shell Performance Elite World Mastercard. The card operates under a Mastercard license with issuance by First Bank & Trust, utilizing the global Mastercard payment infrastructure.
- Raymond JamescoreRaymond James Financial Services provides investment advisory and brokerage services through First Bank & Trust's wealth management platform. Raymond James advisors operate within First Bank & Trust branches offering financial planning, investment management, and retirement account services.
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
First Bank & Trust competitors and assessment
Company assessmentDirect peers
- Pathward Financial (formerly MetaBank): Community bank operating banking and fintech sponsorship businesses; directly comparable to FBT's strategic fintech partnerships including the Shell/Imprint credit card arrangement.
- Heartland Financial USA (HTLF): Community bank holding company operating multiple bank brands in Midwestern and Western markets with similar full-service banking, commercial lending, and wealth management offerings.
- First Interstate Bancsystem: Community bank holding company with footprint across rural and metro Western/Midwestern markets, offering personal/business banking, ag lending, and wealth management comparable to FBT.
- Hills Bank and Trust Company: Iowa-based community bank with full-service personal/commercial banking, ag lending, and wealth management services. Closely comparable full-service community bank with similar customer segments.
- WSFS Financial Corporation: Mid-Atlantic community/regional bank with full-service personal/commercial banking, mortgage, and wealth management offerings highly similar to FBT's product mix.
- Bremer Bank: Midwestern regional bank serving Minnesota, North Dakota, and Wisconsin with comparable personal/business banking, ag lending, and wealth management. Same geography, customer segments, and full-service community banking model.
- Great Western Bank (First Interstate Bank): Midwestern community bank offering personal/business banking, mortgage, ag lending, and wealth management across multi-state footprint. Direct overlap with FBT in target markets, product mix, and community bank operating model.
Broad incumbents
- Wells Fargo: National bank with dense Midwest presence covering personal banking, business banking, mortgage, ag lending, and wealth management - overlapping across essentially every FBT segment.
- CIT Bank: Digital-first bank with fintech and specialty lending focus, providing adjacent competition in deposit gathering, commercial deposits, and fintech partnerships similar to FBT's Imprint/Shell arrangement.
- U.S. Bancorp: Large regional bank with significant Midwest presence offering competing products across all FBT's customer segments including consumer banking, commercial lending, mortgage, and wealth management.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
First Bank & Trust social profiles
Digital presenceFirst Bank & Trust compliance and trust
Trust signalCompliance3 records
First Bank & Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Bank & Trust leadership team
Management profileNumber of profiles
First Bank & Trust funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Bank & Trust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Bank & Trust
What does First Bank & Trust do?
First Bank & Trust is a community bank offering personal banking (checking, savings, credit cards, mortgages), business banking (commercial lending, cash management, SBA loans), agricultural banking, and wealth management (investment, trust, estate planning). The bank operates through 22 branch locations across South Dakota and Minnesota complemented by digital and mobile banking channels.
Is First Bank & Trust a public or private company?
First Bank & Trust is a private company. It is currently operating.
When was First Bank & Trust founded?
First Bank & Trust was founded in 1902. It employs 501 to 1,000 people.
Where is First Bank & Trust based?
First Bank & Trust is headquartered in Brookings, United States, in the North America region.
How does First Bank & Trust make money?
Four revenue lines are on record. Interest Income is the primary driver. The others are credit Card Revenue, fee-Based Services and commercial Banking Services.
Who are First Bank & Trust's main competitors?
Direct peers on record are Pathward Financial (formerly MetaBank), Heartland Financial USA (HTLF), First Interstate Bancsystem, Hills Bank and Trust Company, WSFS Financial Corporation, Bremer Bank and Great Western Bank (First Interstate Bank). Broad incumbents are Wells Fargo, CIT Bank and U.S. Bancorp.
Does First Bank & Trust have an API?
No public API is recorded for First Bank & Trust.
What industry is First Bank & Trust in?
Its primary akta.pro industry code is FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor), with a secondary code of FSABACAH, Real Estate (Commercial Property, REITs). Its NAICS code is 52211 and its SIC code is 6022.