Message from Peoples Bank

Dear Valued Client –

This week it was announced that Duke Financial Group, owner of Peoples Bank of Commerce and State Bank of New Prague, has entered a definitive agreement to merge the two banks with First Bank & Trust, Brookings, SD. Both Peoples Bank and State Bank will go by the name First Bank & Trust once the transaction is complete in late 2017. Our board and the bank leadership teams believe this is an excellent opportunity to combine our well-respected pair of Minnesota banks with a group that shares our deep commitment to the culture of community banking.

First Bank & Trust has a history that dates back more than 135 years. They are part of Fishback Financial Corporation, one of South Dakota’s largest privately held bank holding companies with 17 current locations in 12 towns along the I-29 Corridor in eastern South Dakota and southwestern Minnesota. With family- and employee-ownership, First Bank & Trust places the highest priority on relationship-based community banking while offering the breadth and depth of services found at national financial institutions. Named a “Best Bank to Work For” in 2016 by American Banker, First Bank & Trust shares our own commitment to making the communities they serve better places to live and work and fosters an internal culture that impressed us from the start.

We understand that a change of this scale will lead to questions, and are happy to talk with you personally about the exciting changes ahead. Meanwhile, we hope that you continue to bank as you always have. The services you enjoy today have not changed, and the talented staff you know so well will continue to provide you excellent service throughout and beyond this transition. We have enclosed more information on the merger and about First Bank & Trust. Please feel free to contact your banker or our client support team at 763-691-7154 if you would like to speak with someone in more detail.

We appreciate your business and look forward to serving you for many years to come as part of First Bank & Trust.


Scott Laugen, President & CEO
Peoples Bank of Commerce
Member FDIC