First PREMIER Bank
First PREMIER Bank is a privately owned, debt-free $3.5B community bank headquartered in Sioux Falls, South Dakota, offering personal, small business, commercial, and agricultural banking across SD, IA, NE, and MN, with nationally scaled PREMIER Bankcard (17th largest Mastercard issuer) and ATM Vault Cash Solutions businesses.
- Company typePrivate
- Founded1989
- HeadquartersSioux Falls, United States
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What First PREMIER Bank does
First PREMIER Bank is a privately owned, debt-free community bank headquartered in Sioux Falls, South Dakota, operating with $3.5 billion in total assets and a workforce of 1,001-5,000 employees. The bank is owned by T. Denny Sanford and led by CEO Dana Dykhouse and President Dave Rozenboom. It serves personal, small business, commercial, and agricultural customers through 12+ branch locations concentrated in South Dakota, with account opening extended into Iowa, Nebraska, and Minnesota. It was named S&P's Best Performing Large Community Bank in 2024 and has appeared on American Banker's Best Banks to Work For for ten consecutive years.
The bank's product platform spans deposit accounts (FREE+ Checking, Reward Checking, Business Checking variants, Regular Savings, PREMIER Money Market, and CDs), consumer and commercial lending (personal loans, home equity loans, mortgages, commercial real estate, ag lending, SBA loans), treasury services (ACH origination, lockbox, remote deposit, Positive Pay, virtual account management), and wealth management delivered through a Cetera Investment Services partnership. The technology layer is a conventional digital banking stack — online and mobile banking with mobile deposit, mobile wallet support for Apple Pay and Google Pay, digital debit card management, and TransUnion-powered credit score monitoring — backed by Google reCAPTCHA, Google Analytics, and Microsoft Clarity for security and analytics. No public or partner-facing API is offered, and business online banking enrollment requires in-person identity verification.
The bank makes money primarily through net interest income on its loan portfolio and securities, supplemented by deposit account and overdraft fees, debit and credit card transaction revenue (via its PREMIER Bankcard subsidiary, which is the 17th largest Mastercard issuer in the U.S.), commercial treasury service fees, wealth management referral economics, and managed ATM vault cash services that fund 10,000+ independently owned ATMs nationwide. As the 14th largest ACH originating bank in the U.S. and the official bank for the State of South Dakota since 1999 and the City of Sioux Falls since 2004, First PREMIER combines regional community banking with two nationally scaled operating businesses in card issuing and ATM cash logistics.
First PREMIER Bank firmographics
Firmographics- Name
- First PREMIER Bank
- Legal name
- First PREMIER Bank
- Website
- https://firstpremier.com
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- First PREMIER Bank is a privately owned, debt-free $3.5B community bank headquartered in Sioux Falls, South Dakota, offering personal, small business, commercial, and agricultural banking across SD, IA, NE, and MN, with nationally scaled PREMIER Bankcard (17th largest Mastercard issuer) and ATM Vault Cash Solutions businesses.
- Ownership category
- akta.pro rank
First PREMIER Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (522110)
- SIC
- State Commercial Banks (6022), National Commercial Banks (6021)
- akta.pro primary industry
- Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)
- akta.pro secondary industries
- Affluent/Premier Retail Banking (Mass Affluent) (FSABAAAG), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB)
Keywords
Where First PREMIER Bank is headquartered
LocationHeadquarters
- HQ city
- Sioux Falls
- HQ country
- United States
- HQ region
- North America
Offices11 records
Markets served
First PREMIER Bank 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: Revenue from interest earned on loans including personal loans, mortgages, home equity loans, business loans, commercial real estate loans, and agricultural loans. Also interest earned on investment securities and money market accounts.
- Deposit Account Fees: Monthly maintenance fees for certain accounts (though many accounts like FREE+ Checking have no monthly fees), overdraft fees, and other account-related service charges.
- Card Services: Revenue from debit card transaction fees and credit card operations through PREMIER Bankcard subsidiary. The bank is the 17th largest Mastercard issuer in the country.
- Treasury Services: ACH services, cash management, merchant card services, remote deposit, lockbox services for commercial customers. First PREMIER is the 14th largest ACH originating bank in the USA.
- Wealth Management: Investment services, brokerage services, trust services, and financial planning through partnership with Cetera Investment Services.
- ATM Vault Cash Solutions: Specialized funding and services for independent ATM owners, supporting more than 10,000 ATMs across the country.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Home Equity Loan - 84 Months, Credit Score 750+ |
| Other | Monthly | Home Equity Loan - 84 Months, Credit Score 700-749 |
| Other | Monthly | Home Equity Loan - 120 Months, Credit Score 750+ |
| Other | Monthly | Home Equity Loan - 120 Months, Credit Score 700-749 |
| Subscription | Multi-year contract | CD Special - 7 Months |
| Subscription | Multi-year contract | CD Special - 17 Months |
| Subscription | Multi-year contract | CD Special - 33 Months |
| Subscription | Multi-year contract | CD Special - 45 Months |
| Subscription | Multi-year contract | CD Special - 57 Months |
| Subscription | Multi-year contract | Standard CD - 30 Days to < 6 Months |
| Subscription | Monthly | Business Regular Savings |
| Subscription | Monthly | PREMIER Money Market - Tiered Rates |
| Freemium | Monthly | FREE+ Checking |
| Other | Pay-as-you-go | Debit Card Daily Limits |
| Subscription | Monthly | Premium Checking with $15,000+ Relationship |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels7 records
First PREMIER Bank product offering
Product offeringCore offering
First PREMIER Bank is a privately owned community bank offering personal banking (checking, savings, CDs, money market, mortgages, personal loans), small business banking (checking, lending, merchant services), commercial banking (commercial lending, treasury services, ACH), agricultural banking, wealth management, and credit card services through its PREMIER Bankcard subsidiary. The bank operates 12+ branches across South Dakota, supplemented by online and mobile banking platforms, and serves as the official bank for the State of South Dakota and City of Sioux Falls.
Product overview
First PREMIER Bank operates as a multi-channel financial services organization offering a unified platform of banking, lending, credit, wealth management, and treasury services. The core banking products include personal and business checking accounts (FREE+ Checking, Reward Checking, Business Checking variants), savings products (Regular Savings, PREMIER Money Market, Certificates of Deposit), and loan offerings (Personal Loans, Home Equity Loans, Mortgages, Commercial Lending). The bank's digital platform includes Online Banking, Mobile Banking with Mobile Deposit and Mobile Wallet functionality. PREMIER Bankcard serves as the credit card sub-brand. Treasury services include ACH, Merchant Card Services, Remote Deposit, Lockbox Services, and Positive Pay fraud protection. Wealth management encompasses Brokerage Services through Cetera, Wealth Management, and trust services. Ag Banking provides specialized agricultural lending. The bank integrates with MoneyPass ATMs, TransUnion for credit scoring, and operates the 14th largest ACH network in the USA and 17th largest Mastercard issuer. The organization has been recognized as S&P's Best Performing Large Community Bank and ranked on American Banker's Best Banks to Work For for ten consecutive years.
Differentiator
Problem solved
Functional benefit
Products and services
- FREE+ Checking Personal checking account with no monthly maintenance fees, free Online and Mobile Banking, Bill Pay, Mobile Deposit, and access to 37,000+ surcharge-free ATMs through the MoneyPass network. Targeted at individual consumers.
- Reward Checking Personal checking account that provides benefits when maintaining a total monthly deposit relationship of $15,000, including free checks and reward rates on CDs. For individual consumers maintaining higher balances.
- Regular Savings Traditional FDIC-insured savings account with free Online and Mobile Banking and a variable interest rate of 0.15% APY. For individual consumers seeking basic savings products.
- PREMIER Money Market Tiered variable interest rate savings account where higher balances earn higher rates (1.08% to 2.52% APY). FDIC-insured with $500 minimum opening deposit and no minimum balance thereafter. For individual consumers.
- Certificates of Deposit FDIC-insured CDs with competitive fixed interest rates and terms ranging from 30 days to 72 months. Low $500 minimum deposit. Available as special rates requiring Reward Checking eligibility or standard rates. For individual savers.
- Home Equity Loan Home equity loans starting at 5.39% rate (6.56% APR) for qualified borrowers with credit scores of 750+. Available in 84-month and 120-month terms for home improvements and debt consolidation. For individual homeowners.
- Personal Loans Competitive rate loans for personal, auto, home improvement, and debt consolidation needs. For individual consumers.
- Personal Lines of Credit Flexible revolving lines of credit including Easy Access Line of Credit, Home Equity Line of Credit, and Advance Access Line of Credit for higher income individuals.
- Mortgages Competitive mortgage rates with online application, fast processing, local decisioning, and personal support. Includes purchase, construction, refinancing, jumbo loans, and professional loan programs. For individual homebuyers.
- Brokerage Services Investment services through Cetera Investment Services providing simple-to-complex investing, online access, personal advice, and retirement planning with securities offered through FINRA/SIPC member. For individual investors.
- Wealth Management Concierge-style private banking, financial planning, investment management, estate planning, and personal trust services. Includes Private Banking, Financial Planning, Personal Trust Services, Managed Investing, and South Dakota Trusts. For high net-worth individuals.
- Student Loans Undergraduate and Graduate Student Loan options through partnership with Ascent. No application fee with flexible repayment options. For students and parents.
- Online Banking FREE 24/7 account access with multi-tiered security, account alerts, administrative controls, Electronic Statements, and Bill Pay. For personal banking customers.
- Mobile Banking Mobile app providing 24/7 account access, mobile deposit, fund transfers, bill pay, and debit card management including lock/unlock functionality. For personal banking customers.
- Business Checking Business checking accounts including Low Volume, Low Volume + Interest, High Volume + Earnings Credit, and High Volume + Interest options with FREE Online Banking, Mobile Banking, Bill Pay, and Electronic Statements. For small business customers.
- Business Online Banking 24/7 business account access with Electronic Statements, Bill Pay, debit card lock/unlock, and administrative controls at no charge. For small business customers.
- Merchant Card Services Payment processing services allowing businesses to accept card payments from customers. For small business merchants.
- ACH Services Electronic payment processing for managing receivables and payables. First PREMIER is the 14th largest ACH Originating Bank in the USA. For commercial and business customers.
- Commercial Lending Large-scale commercial financing including term loans, SBA loans, business lines of credit, and commercial real estate for operations, growth, and debt consolidation. For commercial customers.
- Business Rewards Mastercard Business credit card with purchasing power and cash back rewards for expense consolidation and tracking. For small business customers.
- ATM Vault Cash Solutions Specialized funding and services for companies that place, promote, and service ATMs. Provides cash vault solutions to over 10,000 independently owned ATMs nationwide. For independent ATM operators.
- PREMIER Bankcard Credit card division of First PREMIER Bank. Nationally recognized for customer service with multiple awards including Contact Center of the Year. 17th largest Mastercard issuer in the country. Won Experian 2025 Vision Award for Excellence in Innovation. For consumer credit card customers.
- Ag Banking Specialized agricultural banking services with team expertise in South Dakota ag industry, including agricultural loans, operating lines of credit, farm real estate financing, equipment loans, and crop insurance financing. For agricultural producers and farmers.
- Business Regular Savings Business savings account with minimum $50 opening deposit, 0.15% APY, variable interest rate. For small business customers.
- Business Asset Management & Trust
Quantifiable outcome
- 30,000+ volunteer hours contributed by employees annually to local organizations
- +2 more outcomes
Companies that use First PREMIER Bank
Customer profileNamed customers4 records
Segments7 records
Ideal customer profiles5 records
First PREMIER Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
Feature4 records
First PREMIER Bank partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- AscentcoreAscent is the student loan partner for First PREMIER Bank, providing undergraduate and graduate student loan options. No application fee and flexible repayment options are offered through this partnership.
- Dakota State UniversitycorePartnership with Dakota State University to offer the DSU Debit Mastercard, allowing students to show support for the university while using the debit card that gives back to the university's foundation.
- MoneyPasscoreMoneyPass ATM network partnership providing First PREMIER customers access to 37,000+ surcharge-free ATMs nationwide.
- Cetera Investment ServicescoreSecurities and advisory services provided through Cetera Investment Services LLC, member FINRA/SIPC. Cetera provides the investment platform for First PREMIER's brokerage and investment services.
- Partner UniversitiesminorPartner schools for PREMIER Business Scholarship program include Augustana University, Briar Cliff University, Dakota State University, Lake Area Technical College, Morningside College, South Dakota State University, Southeast Technical College, University of Sioux Falls, University of South Dakota, and Western Iowa Technical School.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
First PREMIER Bank competitors and assessment
Company assessmentDirect peers
- Heartland Financial USA (HTLF): Heartland is a $20B-asset community bank holding company operating independent community banks across the Midwest and South with commercial, retail and ag banking — closely comparable scale and product mix, making it a natural business-model peer even though larger than First PREMIER.
- Pinnacle Financial Partners: Pinnacle is a southeastern community bank known for relationship banking, local decision-making, business banking, wealth and treasury services — comparable business model and product breadth even though the regional footprint does not overlap.
- Bell Bank: Bell is an employee-owned, privately held bank serving ND, MN and the upper Midwest with personal, business, ag and commercial banking plus mortgage wealth services — same ownership profile, similar regional footprint, and a directly comparable community-bank business model.
- Old National Bank: Old National is a Midwest-headquartered community/commercial bank with comparable deposit, commercial lending, ag and wealth services across the IA/MN corridor — overlapping geographic footprint and customer segments and therefore a strong competitor for the same commercial, ag and consumer relationships.
- Credit One Bank: Credit One is a specialty card-issuing bank that, like PREMIER Bankcard, competes nationally on credit cards rather than through a deep branch network and is recognized for contact-center customer-service excellence — directly comparable to the PREMIER Bankcard subsidiary.
- Great Western Bank: Great Western is a privately held community bank serving ag, commercial, small business and consumer customers across IA, NE, SD and MN — the same four-state corridor as First PREMIER — with similar product breadth (checking, loans, treasury, wealth) and direct overlap on ag lending and government banking.
- Pathward Financial (formerly MetaBank): Pathward, headquartered in Sioux Falls, SD, runs a specialty consumer-finance banking franchise that is closely comparable to First PREMIER: it is a state-chartered bank with a national consumer and payments business (certificates of deposit, prepaid, credit cards) layered on a regional core deposit base — paralleling PREMIER Bankcard and the multi-state branch footprint.
- Glacier Bancorp: Glacier is a community-banking holding company operating 15+ division banks across the Mountain West and Midwest with strong commercial, ag and consumer banking — comparable size and decentralized community-bank operating model to First PREMIER's hometown, relationship-banking go-to-market.
Broad incumbents
- Wells Fargo: Wells Fargo is a national broad-incumbent with full retail, commercial, ag, card and wealth capabilities that overlaps in all four of First PREMIER's states and competes aggressively for the commercial-relationship accounts that anchor the bank's deposits and lending.
- U.S. Bancorp (U.S. Bank): U.S. Bank is the regional mega-incumbent headquartered in Minneapolis with full commercial, retail, payments and wealth capabilities across MN, SD, IA and NE — competing head-to-head for the same state, city, ag and corporate treasury relationships that drive First PREMIER's revenue.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
First PREMIER Bank social profiles
Digital presenceFirst PREMIER Bank compliance and trust
Trust signalCompliance5 records
First PREMIER Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
First PREMIER Bank leadership team
Management profileNumber of profiles
Profiles4 records
First PREMIER Bank subsidiaries and ownership
Company hierarchySubsidiaries1 record
First PREMIER Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First PREMIER Bank 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 PREMIER Bank
What does First PREMIER Bank do?
First PREMIER Bank is a privately owned community bank offering personal banking (checking, savings, CDs, money market, mortgages, personal loans), small business banking (checking, lending, merchant services), commercial banking (commercial lending, treasury services, ACH), agricultural banking, wealth management, and credit card services through its PREMIER Bankcard subsidiary. The bank operates 12+ branches across South Dakota, supplemented by online and mobile banking platforms, and serves as the official bank for the State of South Dakota and City of Sioux Falls.
Is First PREMIER Bank a public or private company?
First PREMIER Bank is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was First PREMIER Bank founded?
First PREMIER Bank was founded in 1989. It employs 1,001 to 5,000 people.
Where is First PREMIER Bank based?
First PREMIER Bank is headquartered in Sioux Falls, United States, in the North America region.
How does First PREMIER Bank make money?
Six revenue lines are on record. Interest Income is the primary driver. The others are deposit Account Fees, card Services, treasury Services, wealth Management and ATM Vault Cash Solutions.
Who are First PREMIER Bank's main competitors?
Direct peers on record are Heartland Financial USA (HTLF), Pinnacle Financial Partners, Bell Bank, Old National Bank, Credit One Bank, Great Western Bank, Pathward Financial (formerly MetaBank) and Glacier Bancorp. Broad incumbents are Wells Fargo and U.S. Bancorp (U.S. Bank).
Does First PREMIER Bank have an API?
No public API is recorded for First PREMIER Bank.
What industry is First PREMIER Bank in?
First PREMIER Bank's product category is Community Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAG, Affluent/Premier Retail Banking (Mass Affluent). Its NAICS code is 522110 and its SIC code is 6022.