JULY 3, 2024:
A ribbon cutting and open house were held Tuesday (July 2, 2024) in Fort Pierre to celebrate the merging of two family-owned, rural banks in South Dakota.
First Fidelity Bank, headquartered in Burke, officially acquired Dakota Prairie Bank last fall (Oct. 6, 2023). First Fidelity Bank is owned by the Lillibridge family while Dakota Prairie Bank was owned by the Hayes family.
Steve Hayes was Dakota Prairie Bank’s president and CEO. He says the transition of ownership has gone smoothly.
Hayes says the Lillibridge family has generations of experience in community banking.
First Fidelity Bank has branches in Burke, Bonesteel, Colome, Draper, Fort Pierre, Gregory, Murdo, Platte, Presho, White River and Winner.
OCTOBER 17, 2023:
First Fidelity Bank, headquartered in Burke, has officially acquired Dakota Prairie Bank (Oct. 6, 2023).
First Fidelity President and CEO David Nelson says the transition will take place through February 2024. He says that will allow time for customers with questions to reach out to their local Dakota Prairie Bank location.
First Fidelity Bank has been owned by the Lillibridge family since its inception and has branches located in Burke, Bonesteel, Colome, Gregory, Murdo, Platte and Winner. The leadership is now into the fifth generation of the Lillibridge founder’s family.
Dakota Prairie has been under the Hayes family leadership since its founding and operates branches in Draper, Fort Pierre, Presho and White River. All Dakota Prairie branches will remain open, and all workers are expected to remain in place.
Nelson says as these two family-owned, rural banks blend together, customers “can expect the same hometown service as always.” He says even though the sign on the doors may change, their commitment to the customers and communities they serve stays the same.
Dakota Prairie Bank—originally Draper State Bank—was chartered in October of 1906, and First Fidelity Bank was chartered as Burke State Bank in January of 1905.
JUNE 2, 2023l
Pending state and federal approval, Dakota Prairie Bank will merge into First Fidelity Bank headquartered in Burke.
Dakota Prairie has been under the Hayes family leadership since its founding and operates branches in Draper, Fort Pierre, Presho, and White River. All Dakota Prairie branches will remain open, and all workers are expected to remain in place.
First Fidelity Bank has been owned by the Lillibridge family since its inception and has branches located in Burke, Bonesteel, Colome, Gregory, Murdo, Platte and Winner. The leadership is now into the fifth generation of the Lillibridge founder’s family.
The sale is expected to close in the fourth quarter of 2023. Dakota Prairie Bank—originally Draper State Bank—was chartered in October of 1906, and First Fidelity Bank was chartered as Burke State Bank in January of 1905.
