The First National Bank in Sioux Falls
The First National Bank in Sioux Falls is a family-owned community bank founded in 1885, operating 18 branches across South Dakota and offering personal, mortgage, wealth management (>$10B AUM), business, and agribusiness banking to individuals, families, farmers, and small-to-mid-size businesses.
- Company typePrivate
- Founded1885
- HeadquartersSioux Falls, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What The First National Bank in Sioux Falls does
The First National Bank in Sioux Falls (FNBSF) is a family-owned, federally chartered community bank founded in 1885, predating South Dakota statehood. It operates 18 branches — 12 in Sioux Falls plus locations in Brandon (2), Baltic, Dell Rapids, Flandreau, Harrisburg, and a new branch under construction in Chamberlain expected to open in summer 2026 — supported by 76 proprietary ATMs across South Dakota plus partnership coverage into Minnesota, North Dakota, and Iowa. The bank employs approximately 275 teammates and is regulated by the OCC, holding an Outstanding CRA rating for four consecutive cycles and being named ICBA's 7(a) Lender of the Year for 2024.
The bank operates five product divisions: Personal Banking (checking, savings, youth accounts, personal loans, Mastercard credit cards, and digital/mobile/Zelle channels), Mortgage (purchase, construction, refinance through a dedicated mortgage web center), Wealth Management (a nearly 40-person team providing fiduciary-standard financial planning, personal trust, institutional wealth, retirement plans, and the FNB Reserve family-office offering, managing more than $10 billion in AUM), Business Banking (loans, treasury management, merchant services, with vertical expertise in transportation and medical/dental practices), and Agribusiness (FSA and real-estate financing, operating, equipment, and hog-barn loans, plus crop insurance through subsidiary First Ag Risk Management).
Revenue is generated primarily through net interest income from the deposit–lending spread across consumer, mortgage, commercial, and agricultural loans, supplemented by recurring wealth-management/advisory fees on $10B+ AUM, mortgage origination fees (purchase/construction/refinance), and transaction-driven treasury/merchant services fees. Customer segments are vertically organized across individuals/families, small-to-mid-size businesses, farmers/agricultural operations (including Hutterite colonies), and high-net-worth families served through the wealth and family-office franchises. Distribution combines the 18-branch physical network, an inbound digital/mobile banking platform, a self-serve mortgage web center, and a telephone-banking channel (605-335-2900). Go-to-market is relationship-driven and community-led, leveraging referrals, local decision-making (same-day loan approvals), community giving (250+ requests per year, $15/hour volunteer sponsorship up to $300/team), scholarship programs, and proprietary ag-education events (Cultivate Your Future, Farmers 'N Bankers, Hutterite Banking Institute). Ownership remains with the Baker family across four and five generations, with the institution explicitly committed to remaining independent and family-owned.
The First National Bank in Sioux Falls firmographics
Firmographics- Name
- The First National Bank in Sioux Falls
- Legal name
- The First National Bank in Sioux Falls
- Website
- https://fnbsf.com
- Company type
- Private
- Founded year
- 1885
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- The First National Bank in Sioux Falls is a family-owned community bank founded in 1885, operating 18 branches across South Dakota and offering personal, mortgage, wealth management (>$10B AUM), business, and agribusiness banking to individuals, families, farmers, and small-to-mid-size businesses.
- Ownership category
- akta.pro rank
The First National Bank in Sioux Falls industry classification
Industry- Product category
- Community Banking
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- National Commercial Banks (6021)
- akta.pro primary industry
- Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)
- akta.pro secondary industries
- High-Net-Worth (HNW) Private Banking (FSABADAB), Onshore Private Banking (Domestic HNW/UHNW) (FSAAABAA)
Keywords
Where The First National Bank in Sioux Falls is headquartered
LocationHeadquarters
- HQ city
- Sioux Falls
- HQ country
- United States
- HQ region
- North America
Offices19 records
Markets served
The First National Bank in Sioux Falls business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Infrastructure, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Net Interest Income: Core revenue from the spread between interest earned on loans (personal, business, mortgage, agricultural) and interest paid on deposits. As a community bank, the primary earnings driver is net interest margin from lending operations.
- Wealth Management & Advisory Fees: First National Wealth Management division generates fee income through financial planning, investment management, personal trust, institutional wealth, and family office services. The division manages more than $10 billion in AUM.
- Mortgage Origination: Mortgage banking revenue through origination, likely held in portfolio or sold. Mortgage services include purchase, construction, and refinancing with rates available through the bank's mortgage web center.
- Treasury & Merchant Services: Business banking services including treasury management, merchant card services, and business deposit accounts generating fee income.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | New personal checking account opening bonus |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
The First National Bank in Sioux Falls product offering
Product offeringCore offering
The First National Bank in Sioux Falls is a family-owned community bank providing full-service personal banking, mortgage, business banking, agricultural lending, and wealth management services across South Dakota. The bank operates 18 branches, supports personal and commercial deposits, loans, treasury management, merchant services, and a wealth management division managing more than $10 billion in assets under management.
Product overview
The First National Bank in Sioux Falls is a community bank offering a comprehensive suite of banking products organized across Personal Banking, Mortgage Services, Wealth Management, Business Banking, and Agribusiness Banking divisions. The bank operates 18 branch locations and serves customers across South Dakota and surrounding states. Core offerings include checking and savings accounts, various loan products (personal, mortgage, business, agricultural), credit cards through Mastercard, and digital banking platforms. Wealth Management services through First National Wealth Management manage over $10 billion in assets under management. The bank also provides specialized services including First Ag Risk Management for crop and livestock insurance, and FNB Reserve for family office services. The bank has announced upcoming offerings including Trump Accounts (tax-deferred investment accounts for children) and is expanding into Chamberlain, SD with a new branch.
Differentiator
Problem solved
Functional benefit
Brands
- FNB Reserve: Custom family office solution built around client values and goals, offering comprehensive wealth management services.
- First Ag Risk Management (FARM)
- Farmers 'N Bankers
- Hutterite Banking Institute
- Cultivate Your Future
Products and services
- Personal Banking Checking accounts, savings accounts, youth accounts, personal loans, debit and credit cards, and digital banking solutions for individual consumers and families across South Dakota.
- Mortgage Services Home purchase, construction, and refinance mortgage loans with online pre-qualification, rate lookup via the mortgage web center, and dedicated mortgage loan officers.
- First National Wealth Management Personalized wealth planning, investment management, financial planning, personal trust, institutional wealth services, retirement plans for businesses, and family office services operated under a fiduciary standard with more than $10 billion in assets under management.
- Business Banking Business loans, business checking and savings accounts, treasury management, merchant services, and industry-specific expertise for transportation, medical and dental practices, and other small to mid-size business sectors.
- Agribusiness Banking Agricultural lending including FSA and real estate loans, operating loans, equipment financing, and hog barn financing, plus crop and livestock insurance through First Ag Risk Management, serving row crop producers, livestock operators, and Hutterite colonies.
- First Ag Risk Management (FARM) Crop insurance, livestock insurance, and agricultural risk management services offered through a wholly owned subsidiary supporting farmers and producers with the Farmer Bridge Assistance program.
- FNB Reserve Family Office Services Custom family office solutions built around high-net-worth client values and goals, offering comprehensive wealth coordination under the FNB Reserve brand.
- Digital Banking Online banking, mobile banking, digital wallet, and account alert services enabling customers to manage personal and business accounts remotely, including Zelle peer-to-peer payments.
Quantifiable outcome
- Local loan decisions made in hours, not days or weeks — enabling customers to seize time-sensitive opportunities like home purchases and agricultural season financing
- +2 more outcomes
Companies that use The First National Bank in Sioux Falls
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles4 records
The First National Bank in Sioux Falls technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The First National Bank in Sioux Falls partnerships and signals
Strategic signalScale indicators6 records
Recent moves7 records
Expansion highlights5 records
The First National Bank in Sioux Falls competitors and assessment
Company assessmentRegional players
- MetaBank / Pathward Financial: Formerly MetaBank, Pathward Financial is a Sioux Falls-headquartered bank operating nationally with deposit and lending products. Most direct regional comparable given co-location in Sioux Falls market and community bank heritage.
Direct peers
- First Bank & Trust (South Dakota): South Dakota-based community bank providing personal, business, mortgage, and ag banking products across SD. Closest direct peer given shared geography, similar product mix, and similar community banking model.
- Great Plains Bank / Great Western Bank: Upper Midwest community/regional bank with multi-state branch network across SD, IA, NE, MN. Strong comparable on community banking focus, ag lending, and personal/business deposit products.
- Dacotah Bank: South Dakota-headquartered community bank with ag, business, and personal banking across the Dakotas. Highly comparable operating model - family-influenced, ag-heavy, community-focused - and overlapping SD/MN/ND service territory.
- Minnwest Bank: Minnesota-based community bank with ag and commercial lending focus, operating into the upper Midwest region that overlaps with FNB's multi-state ATM footprint. Similar size, customer mix, and ag-banking emphasis.
- CorTrust Bank: South Dakota-headquartered community bank serving individuals, businesses, and ag customers across SD, MN, IA, and NE. Direct comparable on community bank model and upper-Midwest multi-state footprint.
Broad incumbents
- Heartland Financial USA / HTLF (now SCH -.): Dubuque, IA-based bank holding company with community banking franchise across the Midwest. Broader incumbent comparable given multi-bank holding structure, ag and commercial lending expertise, and overlapping Heartland geography.
- First Interstate Bank: Large regional bank holding company with community banking franchise across the Western and Midwestern US, including significant ag lending. Comparable on multi-state community-banking model and ag credit expertise.
- First National Bank of Omaha: Large privately-held family-owned bank holding company (FNBC/First National of Omaha) operating across the Midwest, with wealth management and ag lending. Name-similar comparable given both are family-owned 'First National' banks in the same regional footprint.
- Bell Bank: Employee-owned Midwestern community bank with operations across MN, ND, and WI. Comparable community banking model, personal/business/ag products, and employee/independence culture analogous to FNB's family-ownership ethos.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
The First National Bank in Sioux Falls social profiles
Digital presenceThe First National Bank in Sioux Falls compliance and trust
Trust signalCompliance3 records
The First National Bank in Sioux Falls financial estimates
Financial estimateRevenue estimate
Valuation estimate
The First National Bank in Sioux Falls leadership team
Management profileNumber of profiles
Profiles16 records
The First National Bank in Sioux Falls subsidiaries and ownership
Company hierarchySubsidiaries2 records
The First National Bank in Sioux Falls funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The First National Bank in Sioux Falls 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 The First National Bank in Sioux Falls
What does The First National Bank in Sioux Falls do?
The First National Bank in Sioux Falls is a family-owned community bank providing full-service personal banking, mortgage, business banking, agricultural lending, and wealth management services across South Dakota. The bank operates 18 branches, supports personal and commercial deposits, loans, treasury management, merchant services, and a wealth management division managing more than $10 billion in assets under management.
Is The First National Bank in Sioux Falls a public or private company?
The First National Bank in Sioux Falls is a private company. It is classified as family owned and is currently operating.
When was The First National Bank in Sioux Falls founded?
The First National Bank in Sioux Falls was founded in 1885. It employs 251 to 500 people.
Where is The First National Bank in Sioux Falls based?
The First National Bank in Sioux Falls is headquartered in Sioux Falls, United States, in the North America region.
How does The First National Bank in Sioux Falls make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are wealth Management & Advisory Fees, mortgage Origination and treasury & Merchant Services.
Who are The First National Bank in Sioux Falls's main competitors?
MetaBank / Pathward Financial is listed as a regional player. Direct peers are First Bank & Trust (South Dakota), Great Plains Bank / Great Western Bank, Dacotah Bank, Minnwest Bank and CorTrust Bank. Broad incumbents are Heartland Financial USA / HTLF (now SCH -.), First Interstate Bank, First National Bank of Omaha and Bell Bank.
Does The First National Bank in Sioux Falls have an API?
No public API is recorded for The First National Bank in Sioux Falls.
What industry is The First National Bank in Sioux Falls in?
The First National Bank in Sioux Falls's product category is Community Banking. Its primary akta.pro industry code is FSABAAAI, Small Business Banking (Microbusiness/Sole Proprietor), with a secondary code of FSABADAB, High-Net-Worth (HNW) Private Banking. Its NAICS code is 5221 and its SIC code is 6021.