Officials with First Premier Bank announced on Thursday that the Sioux Falls-based community bank will open a branch in Madison led by a bank executive who has experience in the community.
First Premier Bank's new branch was approved earlier this month by the South Dakota Division of Banking and the Federal Reserve.
Dave Rozenboom, First Premier Bank president, said the land was purchased in Madison and construction will start this spring near the intersection of 2nd St. N.W. and Van Eps Ave. The bank plans to install a temporary facility on the site to serve customers until the new building is completed.
Rozenboom said the bank is excited to invest in Madison.
"There are so many great things happening in the community, and our relationship with Dakota State University makes it a great fit with First Premier Bank," Rozenboom said in a press release.
Tony Nour, First Premier senior vice president/relationship banking, announced that a familiar face in Madison will lead the staff at the new branch. Floyd Rummel IV joined First Premier Bank in 2019 and will serve as the branch's vice president/market leader. He brings more than 15 years of professional experience to the bank and is active in many community programs and groups.
"As we explore new opportunities, we look for leaders who are well aligned with our culture, and Floyd is a great fit," Rozenboom said.
The leadership at First Premier Bank has pointed out that the financial institution has made significant investments into DSU's infrastructure. The bank has also recently launched a DSU-branded debit card, which generates funding for the DSU Foundation each time it is used.