The First National Bank in Sioux Falls is opening an east-side branch.
The bank will take about half of a new building at Foss Avenue and Arrowhead Parkway near the new Aldi grocery store.
The 3,200-square-foot branch will include retail banking staff members and a residential mortgage banker.
The new location will give the bank 19 branches, including six micro-branches. In addition to Sioux Falls, there are locations in Baltic, Brandon, Dell Rapids, Harrisburg and Flandreau.
New bank branches are increasingly rare, and the decision to open one isn’t taken lightly, CEO Bill Baker said.
“Banking has changed, and customers engage and connect with us in different ways, so you think long and hard before you go into bricks and mortar,” he said. “Still, the No. 1 reason people open accounts is branch location. But we felt it’s a good location to leverage other pieces of our business, including residential mortgage.”
The plan is to start construction this month and open next year.
The design is still being finalized, but “we know it will be different and more efficient and not your typical big teller-line branch,” Baker said.
The branch will include a drive-up with an ATM.
“We’re excited to be a part of this development on the east side of Sioux Falls,” chief deposit officer Jeff Russell said. “We’ve incorporated design elements, technology and the best team members to ensure we deliver a world-class customer experience. We can’t wait to open the doors.”
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