First Bank & Trust
Brookings, South Dakota, Brookings County
$4.8B in total assets, the 303rd largest of 4,309 US banks and 6th of 58 headquartered in South Dakota.
- FDIC certificate
- 3973
- Established
- 1925
- Owned by
- Fishback Financial Corp
- Primary regulator
- FDIC
- Website
- www.bankeasy.com
At a glance
Compared with 16 banks headquartered in South Dakota with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $4.8B | 81% | $2.1B | |
| Loans | $3.6B | 81% | $1.6B | |
| Deposits | $4.2B | 81% | $1.7B | |
| Return on assets | 1.23% | 38% | 1.44% | |
| Net interest margin | 3.76% | 31% | 4.02% | |
| Efficiency ratio | 59.0% | 50% | 60.1% | |
| Equity to assets | 11.27% | 69% | 10.12% | |
| Loans to deposits | 86% | 40% | 90% |
Growth
Total assets grew 4.5% a year over the last 5 years and 13.6% a year over 10 years, including 3 acquisitions in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Oct 2020 | First Bank & Trust Sioux Falls, SD, an affiliate under the same holding company | $1.2B |
| Dec 2017 | Peoples Bank of Commerce Cambridge, MN | $302M |
| Dec 2017 | State Bank of New Prague New Prague, MN | $112M |
| Aug 2015 | First Bank & Trust, National Association Pipestone, MN, an affiliate under the same holding company | $192M |
| Aug 2015 | First Bank & Trust of Milbank Milbank, SD, an affiliate under the same holding company | $158M |
| May 2012 | First Bank of White White, SD, an affiliate under the same holding company | $48M |
| Jan 1993 | Home Trust Savings and Loan Association Vermillion, SD | $29M |
Where they operate
22 branches in 15 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Brookings County, SD | $1.5B | 66.9% | 1 of 8 |
| Minnehaha County, SD | $1.0B | 0.2% | 5 of 26 |
| Pipestone County, MN | $298M | 51.6% | 1 of 4 |
| Grant County, SD | $219M | 54.4% | 1 of 5 |
| Lake County, SD | $185M | 37.2% | 1 of 6 |
| Le Sueur County, MN | $160M | 19.7% | 1 of 8 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 12 branches since 2016 (10 to 22, +120.0%). 0 opened, 13 acquired, 1 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 10 | |||
| 2017 | Acquired Peoples Bank of Commerce and State Bank of New Prague | 6 | 0 | +6 | 16 |
| 2020 | Acquired First Bank & TrustClosed Stockholm | 7 | 1 | +6 | 22 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Commercial real estate | 28% | 23% | |
| Business (C&I) | 24% | 17% | |
| 1-4 family residential | 13% | 12% | |
| Multifamily | 8% | 8% | |
| Construction and land | 7% | 6% | |
| Farmland | 7% | 7% | |
| Agricultural | 5% | 9% | |
| Consumer | 3% | 13% | |
| Other | 4% | 4% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 56% | 42% | |
| Time deposits | 27% | 25% | |
| Noninterest-bearing | 17% | 33% |
Brokered deposits are 2.6% of deposits (peers 8.3%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 0.42% | 0.87% |
| Net charge-offs, annualized | 0.02% | 0.23% |
| Reserves to loans | 1.25% | 1.19% |
| Leverage ratio | 10.37% | 10.37% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in South Dakota
Largest competitors in Brookings County, SD
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/first-bank-trust-brookings-sd