First Western Bank & Trust

What First Western Bank & Trust does

First Western Bank & Trust is a privately held community bank founded in 1964 in Minot, North Dakota, operating as a subsidiary of holding company Westbrand, Inc. Following the 2019-2020 acquisition of BlackRidgeBANK, the combined institution holds nearly $1.7 billion in assets, employs more than 300 people, and operates 19 branch locations across North Dakota, South Dakota, Minnesota, and Arizona (including a new Chandler, Arizona office opened in November 2025).

The bank operates a full-service platform spanning personal banking (checking, savings, CDs/IRAs, credit cards, HSAs, personal lending), business banking (accounts, business financing, cash management, equipment finance, Clover merchant services), agricultural lending, residential mortgages, and trust & wealth services (personal trust, investment management, employer retirement plans, IRAs, plus specialized oil & gas and farm management). Digital channels include the MyFirstWestern mobile app with mobile check deposit, online banking, OpenAnywhere digital account opening, Zelle person-to-person payments, and a surcharge-free ATM network. Insurance products are distributed through First Western Insurance.

First Western generates revenue primarily through net interest income on its personal, business, agricultural, and mortgage loan portfolio, supplemented by fee income from trust and wealth management fiduciary services, insurance commissions, equipment leasing, merchant payment processing (Clover), and credit card interchange. Distribution follows a traditional community-bank GTM model: relationship-based sales through 19 branches complemented by digital self-serve channels, with go-to-market organized around three primary segments (personal, business, agricultural) plus specialized wealth management and government/first responder programs.

Name

First Western Bank & Trust

Legal name

First Western Bank

Website

https://firstwestern.bank

Company type

Private

Founded year

1964

Operating status

Operating

Headcount range

101–250 employees

Short description

First Western Bank & Trust is a privately held North Dakota community bank (founded 1964) operating 19 branches in four states with ~$1.7B in assets, offering personal, business, agricultural, and mortgage banking plus trust, wealth, insurance, and equipment finance services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industry

Corporate & Institutional Trust Services (FSAAANAB)

Keywords

• Community banking services
• Agricultural lending
• Trust and wealth management
• Small business banking
• Mortgage and personal lending

Headquarters

HQ city

Minot

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Interest earned on loans including personal, business, agricultural, and mortgage lending
2. Deposit Interest: Interest paid to depositors on checking, savings, CDs, and money market accounts
3. Trust and Wealth Management Services: Fiduciary services, estate and trust oversight, investment management, and trustee services through Trust Department
4. Insurance Products: Insurance products offered through First Western Insurance
5. Equipment Finance: Equipment leasing and financing services for businesses
6. Merchant Services: Payment processing and merchant services through Clover partnership
7. Credit Card Fees: Credit card products with associated fees and interchange income

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

First Western Bank & Trust is a community bank offering a full suite of personal banking (checking, savings, CDs/IRAs, credit cards, HSAs, personal lending), business banking (business accounts, financing, cash management, Clover merchant services, equipment finance), agricultural lending, mortgage loans, and trust and wealth services (personal trust, investment management, retirement plans, IRAs, oil & gas and farm management). Insurance is offered through First Western Insurance. Services are delivered through 19 branches across North Dakota, South Dakota, Minnesota, and Arizona, complemented by online and mobile banking.

Product overview

First Western Bank & Trust operates as a full-service community bank offering a unified platform of banking, lending, and wealth management products. The core portfolio spans personal banking (checking, savings, credit cards, HSAs), business banking (accounts, financing, merchant services via Clover, equipment finance, cash management), agricultural lending, and mortgage loans. The bank complements these with Trust & Wealth Services including personal trust administration, investment management, retirement plan administration, and specialized oil & gas and farm management. Digital access is provided through online and mobile banking with OpenAnywhere account opening. Insurance products are offered through First Western Insurance. All services are delivered through a network of 19 branches across North Dakota, South Dakota, Minnesota, and Arizona.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Banking Comprehensive personal banking services for individuals and families including checking and savings accounts, CDs/IRAs, credit cards, health savings accounts, personal lending, and online/mobile banking.
• Business Banking Business banking solutions for small and medium-sized businesses including business accounts, business financing, merchant services through Clover, equipment finance, online banking services, and cash management.
• Ag Banking Agricultural banking services for farmers and agricultural businesses with specialized ag lending expertise and flexible loan options for farming operations.
• Mortgage Loans Home purchase and refinancing solutions with competitive rates and customized loan options for residential mortgages for homebuyers.
• Trust & Wealth Services Comprehensive trust and estate planning services including personal trust administration, investment management, employer-provided retirement plans, IRAs, oil & gas management, and farm management for individuals and institutions.
• Insurance Insurance products and services offered through First Western Insurance, complementing the bank's banking and financial solutions.
• Equipment Finance Equipment financing solutions for businesses to acquire necessary equipment through leasing or financing arrangements.
• Cash Management Cash flow management services for business customers to optimize operational liquidity and financial workflows.
• Online & Mobile Banking Services Digital banking platform providing online and mobile access to accounts, mobile check deposit, and 24/7 account management through the MyFirstWestern app.
• Credit Cards Visa credit cards issued through Mastercard partnership with no annual fee, cashback rewards, fraud detection, and purchase security protection.
• Clover Merchant Services Point-of-sale payment processing and merchant services platform through Clover enabling businesses to accept card payments.
• OpenAnywhere Digital account opening capability allowing customers to open checking, savings, or money market accounts within minutes online from any device.
• First Responder Program Specialized banking program offering first responders preferred lending rates, mortgage closing cost support, and elevated CD returns.

Quantifiable outcome

• Combined assets of nearly $1.7 billion following BlackRidgeBANK acquisition
• +1 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core and minor.

• BlackRidgeBANKcoreOthers · 11 July 2019First Western Bank's parent company Westbrand, Inc. acquired BlackRidge Financial, Inc. (holding company of BlackRidgeBANK) in Q4 2019. Combined organization has assets of nearly $1.7 billion with 15 locations in 11 communities. Operations initially remained independent before merging under First Western Bank name in Q1 2020.
• Federal Reserve Bank of MinneapolisminorOthersRegulatory relationship. CEO Brenda Foster elected to Federal Reserve Board of Minneapolis' board of directors as Class A director representing member banks. Three-year term beginning January 1, 2020.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Bell Bank: Fargo, ND-based full-service community bank offering personal, business, ag, mortgage, and wealth management services across the Upper Midwest. Closest direct peer given overlapping geography, product suite, and ownership as an ESOP holding company.
• Starion Financial: North Dakota-chartered community bank headquartered in Bismarck with branches across ND and MN, offering commercial, ag, mortgage, and trust services. Highly comparable footprint and product set to First Western post-BlackRidge acquisition.
• Gate City Bank: Fargo-headquartered mutual community bank providing personal, business, ag, and mortgage lending across the Dakotas and MN. Comparable community-bank model with similar geographic overlap.
• Alerus Financial: Grand Forks, ND-based bank holding company with commercial banking, mortgage, and retirement/wealth management businesses. Strong trust and retirement-plan overlap with First Western's Trust Department.
• Heartland Financial USA (now HTLF): Multi-state community bank holding company operating independent community banks across the Midwest, Southwest, and West. Closely comparable multi-state community bank roll-up strategy under a holding company.

Broad incumbents

• First Interstate BancSystem: Billings, MT-headquartered community bank holding company with similar multi-state community banking model across the West and Midwest. Larger scale but conceptually equivalent as a community bank operator.
• Glacier Bancorp: Kalispell, MT-based community bank holding company operating a network of community banks across the Western U.S. Highly relevant comparable for the holding-company-stewards-individual-banks model.
• WSFS Financial: Philadelphia-area bank holding company operating WSFS Bank as a community-focused institution with wealth management. Comparable model as a community-bank-focused holding company with adjacent wealth services.
• Old National Bancorp: Evansville, IN-headquartered regional bank holding company providing commercial, ag, mortgage, and wealth services across the Midwest and South. Comparable on product breadth and Midwest footprint though materially larger.

Others

• ConnectOne Bancorp: New Jersey-based community bank holding company. Relevant adjacent comparable as a privately/community-oriented bank consolidator, though East Coast geography limits direct overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Western Bank & Trust