First International Bank & Trust purchases downtown property for second location in Sioux Falls
SIOUX FALLS, SD • First International Bank & Trust announced that it has purchased a property to establish its second location in Sioux Falls.
The purchase comes less than a year after FIBT acquired Sodak Home Loans, which established its first location in Sioux Falls near 57th Street and Western Avenue.
The new location property is located at 601 S. Minnesota Ave. In 2020, the FIBT purchased land at the northwest corner of 69th Street and Minnesota Avenue and plans to develop a full-service branch there in the future.
The company said during the announcement of the most recent purchase that with the recent hiring of Jason Appel as president of the Sioux Falls community, the FIBT is able to deepen its roots in the region. .
“I have spent the past 15 years serving the Sioux Falls business community and am delighted to continue to do so within the FIBT,” Appel said in a statement. “We can do amazing things for this city and the members of its community. I am honored to strengthen our strong community banking presence and to present what Live First means.
Renovations are planned before opening to customers.
“We have started working in the community of Sioux Falls and this expansion will allow us to further strengthen our team of financial experts,” said President Peter Stenehjem. “We look forward to welcoming more clients offering all the services you expect from an innovative and growing bank. “