FIBT Purchases Downtown Sioux Falls Property

Second location coming to South Dakota

On October 21st, First International Bank & Trust (FIBT) purchased the property on the southwest corner of 14th & Minnesota (601 S. Minnesota Avenue) to establish their second Sioux Falls location. The purchase comes less than a year after FIBT’s acquisition of Sodak Home Loans, which established their first Sioux Falls location near 57th Street & Western Avenue.

With the recent hire of Jason Appel as Sioux Falls Community President, FIBT is positioned to deepen its roots in the Sioux Falls area. “I’ve spent the last 15 years serving the Sioux Falls business community and I’m excited to continue doing so as part of FIBT,” said Appel. “We can do some amazing things for this city and its community members. I’m honored to build out our strong community bank presence and introduce what it means to Live First.”

Renovations are planned for the location before opening the doors to customers.

“We’ve hit the ground running in the Sioux Falls community and this expansion will allow us to further build out our team of financial experts,” said Peter Stenehjem, President. “We look forward to welcoming more customers offering all of the services you would expect from an innovative and growing bank.”

FIBT also purchased land at the northwest corner of 69th Street & Minnesota Avenue in 2020 and plans to develop a full-service branch at that location in the future.