Making a Statement

First International Bank & Trust expands to Bismarck, N.D., with $40 million, six-story building

BY KAYLA PRASEK

When First International Bank & Trust decided to expand into Bismarck, N.D., the bank’s leaders wanted to make sure everyone knew they were coming to town. So they bought property at the intersection of State Street and Divide Avenue, the busiest corner in Bismarck and near the state Capitol building, and started construction on a six-story building.

The $40 million, 60,000-square-foot facility broke ground in May and is expected to open in October 2017. It was designed and is being constructed by Consolidated Construction, which is located in Bismarck and built First International’s branch in Watford City, N.D.

“Bismarck is a city we’ve been looking at for a long time, and we tried to buy banks there for the last 10 years but no one was selling,” says Peter Stenehjem, chief retail banking officer. “Finally we decided to build our own bank there, which means we can build our own culture and hire our own people.”

The six-story building, which will be First International’s largest bank, will feature a two-story glass atrium as the main entry and will be used for events. First International will occupy the first three floors of the building. The main level will be geared toward retail and will feature teller pod systems instead of the traditional line of tellers, a few retail offices and a grand staircase that will connect the three floors of the bank. The second floor will house business banking services, while the third floor will be for the bank’s corporate functions, including a data center, trust and wealth management services, a large training room and a variety of conference rooms.

The bank’s interior will feature a modern look including dark woods, tall doors and a lot of glass to showcase the location’s great views, Stenehjem says.

The building will also include a rooftop patio, a restaurant on the main level and three floors of space available for lease. A three-level parking garage will be connected to the building.

“We’re in a great location, and we’re hoping the building will be a business hub for the city of Bismarck,” Stenehjem says, noting the glass atrium, rooftop patio and mixed-use building should all contribute to that. “We’re excited about the opportunity to be in Bismarck.”

First International’s expansion to Bismarck also gives the bank more hiring options and a centralized location. “This gives us the opportunity to put a full-service location in Bismarck, where we’ll be one of the major banks, and a marquee building adds to that,” says David Mason, Bismarck president. “As an organization, it allows us to hire any level of staff, including executive officers, and have them here (in Bismarck). By expanding here, we have access to a large talent pool that we didn’t have access to before because we didn’t have a location here.” Mason says Bismarck will now be a major training space for the bank, as it provides a more centralized location for the bank’s employees to convene.

First International is also making an effort to ensure the city and its citizens know the bank is in it for the long haul, Mason says. “We’re a 106-year-old bank that doesn’t act quickly when we make decisions like this. We’re not just testing the waters, we’re investing in the community.” The bank’s employees have been out in the community, actively engaging with the city’s residents as part of that push, Mason says. “Hopefully you’ll see us where you don’t expect to see your banker and will see what kind of people we are and what kind of bank we are.”

While Mason and his team are focused on hiring and building a customer base, construction on the permanent facility is moving along. All of the dirt work is finished and concrete has been poured. In mid-August, the building’s steel beams started going in, and Stenehjem expects the majority of the frame to be finished by early December.

First International opened a temporary location at the same site in August 2015 and is up to 29 employees. The temporary location, which is operating as a full-service bank, will remain open until construction is finished. PB

Kayla Prasek Staff Writer, Prairie Business 701.780.1187 kprasek@prairiebusinessmagazine.com

Interest Rates

Employment

Gas Captured/Sold

Data provided by David Flynn, chair of the University of North Dakota Department of Economics. Reach him at david.flynn@business.und.edu.

New-well oil production per rig

New-well gas production per rig

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1,149

Indicated

Monthly additions from one average rig

1,149

1,116 858 841

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+33

Oil +17 Gas

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Indicated monthly change in oil production (Aug vs. Jul)

August-2015 August-2016

August-2015

August-2016

Indicated monthly change in gas production (Aug vs. Jul)

Indicated monthly change in gas production (Aug vs. Jul)

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Indicated

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