First International Bank & Trust plans two new locations

SIOUX FALLS, S.D. • First International Bank & Trust said it has purchased property to establish its second Sioux Falls location. The purchase comes less than a year after FIBT’s acquisition of Sodak Home Loans, which established its first Sioux Falls location near 57th Street and Western Avenue.

The property for the new location is at 601 S. Minnesota Ave. In 2020, FIBT purchased land at the northwest corner of 69th Street and Minnesota Avenue in and plans to develop a full-service branch at that location in the future.

The company said when making the announcement of the most recent purchase that with the recent hiring of Jason Appel as Sioux Falls community president, FIBT is positioned to deepen its roots in the 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,” Appel said in a statement. “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 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 President Peter Stenehjem. “We look forward to welcoming more customers offering all of the services you would expect from an innovative and growing bank.”

Moorhead Branch

The company broke ground for a new branch in Moorhead, Minn. According to the company, the branch will be 8,200 square feet and will feature 10 offices, two teller pods, and a two-lane drive-thru.

Plans for a new building have been in motion since FIBT first purchased the land in 2008. Once construction is complete in 2022, the new branch will provide a full array of financial services and will house the Moorhead banking and insurance teams.

“We’ve enjoyed serving the Moorhead community over the years and this expansion will allow us to do so more effectively,” Stenehjem said.