First Bank & Trust established itself in Sioux Falls in 1998, when First American Bank & Trust, based in Madison, was granted approval by the South Dakota Banking Commission to open a Sioux Falls office. The Madison bank had begun operations in 1883, and over the years grew to include banks in Sioux Falls, Canton, and Watertown.
In April of 2006, ownership transferred to Fishback Financial Corporation and the name was changed to First Bank & Trust. An independent commercial bank, First Bank & Trust is locally owned by both stockholders and employees.
A lot has changed since 1883, but what hasn’t changed from that single bank in Madison is our devotion to hometowns, to friends, and to customers. In 1991 we received the ABEX Award for community service, and in 1998 the U.S. Department of Agriculture Rural Development recognized us as a "Top Ten" lender for South Dakota Rural Housing. First Bank & Trust believes strongly in giving back to its communities and each year receives United Way's Excellence Award for employee giving.