First Bank & Trust
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Data as of · sourced from FFIEC call reports. How we update
First Bank & Trust is an FDIC-insured commercial bank headquartered in Brookings, SD, established in 1925 (FDIC certificate 3973), and it is supervised by the FDIC. At Q2 2026 it reported total assets of $4.78B, up 0.8% from Q2 2025, the 6th largest of 56 banks headquartered in South Dakota. It reports no CET1 ratio; its Tier 1 leverage ratio was 10.37% at Q2 2026, above the 9% community bank leverage ratio requirement for being considered well capitalized.
- Charter
- Commercial bank
- Regulator
- FDIC
- Deposit insurance
- FDIC
- FDIC certificate
- 3973
- Headquarters
- Brookings, SD
- Established
- 1925
- Total assets, Q2 2026
- $4.78B
- Assets vs Q2 2025
- +0.8%
- Tier 1 leverage ratio, Q2 2026
- 10.37%
- Domestic offices
- 22 FDIC institution directory, current count
- Routing number
- 091408446
- Latest call report
- Q2 2026, FFIEC 041 · First Bank & Trust call report
- Holding company
- FISHBACK FINANCIAL CORPORATION
- Asset rank in state
- 6th of 56 in South Dakota
Little in First Bank & Trust's latest call report stands out. Based in Brookings, South Dakota, it had $4.8 billion in assets at June 30, 2026. On most measures it sits near the middle of the 895 banks with $1 billion to $10 billion in assets.
Earnings jumped: net income for the quarter was $16 million, 55% above the same quarter a year earlier. Problem loans have nearly doubled in a year: loans on nonaccrual or 90 or more days past due, net of government guarantees are 0.42% of loans, against 0.21% a year earlier.
As of June 30, 2026, First Bank & Trust reported a return on assets of 1.30%, a nonperforming-loan ratio of 0.42% and a Texas ratio of 3.95%. The figures come from its call report filed with the FFIEC.
Of the 56 banks headquartered in South Dakota, First Bank & Trust is the 6th largest by total assets at Q2 2026. Between Q1 2026 and Q2 2026, its total assets fell 1.7% to $4.78B, loans rose 2.8% and deposits fell 2.1%. Commercial and industrial loans made up 23.7% of its total loans on June 30, 2026, its largest category; next came non-owner-occupied commercial real estate loans at 14.4%. The FDIC Summary of Deposits lists 22 offices for it, in 17 cities across 2 states; its Brookings 4 offices book 35% of its branch deposits. Judged on its Q2 2026 call report, First Bank & Trust meets the community bank leverage ratio test for well capitalized.
Headquarters Profile
- Address
- 520 6th St, Brookings, SD 57006
- County
- Brookings
- Metro Area
- Brookings, SD
- Charter
- Commercial bank, state charter, Fed non-member, FDIC-supervised
- Primary Regulator
- FDIC
- FDIC Region
- Kansas City (Region 11)
- Federal Reserve member
- No
- Federal Reserve district
- District 9, Minneapolis
- Fiduciary (trust) powers
- Full trust powers granted
- Call Report form
- FFIEC 041
- Established
- November 2, 1925
- Former names
- First National Bank in Brookings (1958-2004)
- Domestic offices
- 22 FDIC institution directory, current count
- Employees (FTE)
- 716
- Domestic deposits
- $4.17B
- Allowance for credit losses
- $44.7M
- Net charge-offs (YTD)
- $363K
- Average total assets
- $4.86B
- Average total loans
- $3.50B
- Average interest-bearing deposits
- $3.49B
- Tax status
- C corporation
- Ownership
- Stock
- Community bank
- Yes
- FDIC-insured since
- January 1, 1934
- FDIC Cert
- 3973
- Fed RSSD
- 77851
- Website
- www.bankeasy.com →
- Parent Holding Company
- FISHBACK FINANCIAL CORPORATION (RSSD 1123072)
Profitability
Q2 annualizedBalance Sheet
Income Statement
Operating & Funding
Ratios tagged annualized use the Q2 income alone. The UBPR and FDIC annualize the year to date instead. FDIC BankFind divides by the average of quarter-end total assets, the UBPR by RC-K average assets. The YTD margin is the UBPR's tax-equivalent figure over its own average earning assets; FDIC BankFind's margin is not tax-equivalent. As a community bank leverage ratio filer, First Bank & Trust reports no risk-based capital ratios; its Tier 1 leverage ratio applies. How we compute these figures
Quarterly trends
Over the 12 quarters to Q2 2026, First Bank & Trust's total assets ran between $4.55B (Q3 2023) and $4.87B (Q1 2026), and it earned a profit in all 12 quarters. The line under each chart compares Q2 2026 with Q2 2025. How these charts are built
$4.78B total assets against $4.75B; $4.25B total liabilities against $4.23B.
$3.53B net loans and leases against $3.44B; $4.17B total deposits against $4.06B.
$842.0M securities against $769.4M; $114.3M cash and balances due against $245.6M.
$65.6M total interest income against $63.0M; $22.7M total interest expense against $27.0M.
$42.9M net interest income against $36.0M.
$9.1M total noninterest income against $10.5M; $30.4M total noninterest expense against $31.3M.
$1.0M provision for credit losses against $425K.
$15.7M net income against $10.2M.
1.30% return on assets against 0.85%; 3.76% net interest margin against 3.21%.
10.37% tier 1 leverage ratio against 10.04%.
Inside the full First Bank & Trust terminal
21 quarters of trends · 8 tabs · peer percentiles · watchlist alerts
Unlock this bank, freeFirst Bank & Trust rankings
Its closest position to the top of a national ranking is 289 of 4,196, for total assets; its furthest is 510 of 980, for uninsured deposits.
Quarterly trend: last 8 quarters
Across the 8 quarters to Q2 2026, its return on assets ran from 0.84% (Q3 2024) to 1.31% (Q1 2026) and its net interest margin ran from 2.89% (Q3 2024) to 3.76% (Q2 2026).
| Quarter | Leverage | ROA | NPL | Texas | NIM |
|---|---|---|---|---|---|
| Q2 2026 | 10.37% | 1.30% | 0.42% | 3.95% | 3.76% |
| Q1 2026 | 10.49% | 1.31% | 0.43% | 4.55% | 3.63% |
| Q4 2025 | 10.21% | 1.17% | 0.30% | 3.70% | 3.49% |
| Q3 2025 | 10.24% | 1.11% | 0.36% | 4.11% | 3.41% |
| Q2 2025 | 10.04% | 0.85% | 0.21% | 3.19% | 3.21% |
| Q1 2025 | 9.98% | 0.91% | 0.19% | 3.11% | 3.08% |
| Q4 2024 | 9.94% | 0.86% | 0.16% | 2.99% | 3.10% |
| Q3 2024 | 9.70% | 0.84% | 0.27% | 3.53% | 2.89% |
Swipe the table sideways to see every column.
Branch Network
View all 22 branches → Branch count from the FDIC Summary of Deposits, June 30, 2026. The domestic office count above is the FDIC's current figure, so the two can differ.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| First Bank & Trust (main office) | Brookings , SD | 57006 | $1.35B |
| Sioux Falls Branch | Sioux Falls , SD | 57104 | $749.7M |
| Pipestone Branch | Pipestone , MN | 56164 | $297.9M |
| First Bank & Trust of Milbank Branch | Milbank , SD | 57252 | $219.2M |
| Madison Branch | Madison , SD | 57042 | $185.0M |
| New Prague Branch | New Prague , MN | 56071 | $159.8M |
| Cambridge Branch | Cambridge , MN | 55008 | $158.9M |
| Sioux Falls I-229 & 57th Street Branch | Sioux Falls , SD | 57108 | $138.2M |
| Canton Branch | Canton , SD | 57013 | $112.5M |
| Edina Branch | Edina , MN | 55435 | $104.4M |
| Watertown Branch | Watertown , SD | 57201 | $96.5M |
| Roseville Branch | Roseville , MN | 55113 | $80.0M |
| Garretson Branch | Garretson , SD | 57030 | $76.8M |
| Sixth Street Branch | Brookings , SD | 57006 | $68.3M |
| Vermillion Branch | Vermillion , SD | 57069 | $67.8M |
| Toronto Branch | Toronto , SD | 57268 | $64.2M |
| Princeton Branch | Princeton , MN | 55371 | $61.0M |
| Dawley Farms Branch | Sioux Falls , SD | 57110 | $49.5M |
| East Bethel Branch | Cedar , MN | 55011 | $46.8M |
| White Branch | White , SD | 57276 | $45.0M |
| Brookings Mall Branch | Brookings , SD | 57006 | $26.9M |
| Walmart Branch | Brookings , SD | 57006 | $12.6M |
Events & Regulatory History
Mergers, charter changes, enforcement actions, FDIC assistance, and (if applicable) failure events recorded against this institution. Click a year to see what else was happening across US banking that year.
| Date | Category | Event | Source |
|---|---|---|---|
| December 4, 2021 | M&A | Acquired CJM Financial, Inc. merger for the acquired bank | SEC |
| December 4, 2021 | Structure Change | Acquired CJM Financial, Inc. Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| October 17, 2020 | M&A | Acquired First Bank & Trust merger for the acquired bank | SEC |
| October 17, 2020 | Structure Change | Acquired First Bank & Trust Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| October 16, 2020 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 2, 2017 | M&A | Acquired State Bank of New Prague merger for the acquired bank | SEC |
| December 2, 2017 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| December 2, 2017 | Structure Change | Acquired Peoples Bank of Commerce Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| August 15, 2015 | M&A | Acquired First Bank & Trust, National Association merger for the acquired bank | SEC |
| August 15, 2015 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| August 15, 2015 | Structure Change | Acquired First Bank & Trust of Milbank Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| May 5, 2012 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
| May 5, 2012 | Structure Change | Acquired First Bank of White Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| May 5, 2012 | M&A | Acquired First Bank of White merger for the acquired bank | SEC |
| November 18, 2000 | M&A | Acquired another institution merger for the acquired bank | SEC |
| November 18, 2000 | Structure Change | Acquired another institution Charter Retained (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| February 1, 1993 | Structure Change | Acquired Home Trust Savings and Loan Association Charter Discontinued (Merger or Purchase & Assumption) for the acquired bank | FFIEC NIC |
| February 1, 1993 | M&A | Acquired Home Trust Savings and Loan Association merger for the acquired bank | SEC |
| January 31, 1993 | Merger | Participated in Absorption/Consolidation/Merger | FDIC |
Sourced from the bank event history (FDIC, Federal Reserve NIC, OCC, and OTS). Showing the most recent 19 events, scroll the table for the full history.
Regulatory record
Facts as filed or published, not a rating.
- Enforcement actions
- 3 against the institution (Federal Reserve, OCC)
- June 7, 2005, Federal Reserve: Civil Money Penalty $7,750.: First Bank & Trust, Lebanon, VA
- January 17, 2003, OCC: C&D or PC&D Requiring Restitution: First National Bank in Brookings
- January 17, 2003, OCC: Cease-and-Desist Order (C&D) or Personal Cease-and-Desist Order (PC&D): First National Bank in Brookings
- Period: Most recent institution action June 7, 2005. Source: FDIC, Federal Reserve and OCC enforcement releases.
- Deposit market share
- 0.3% of deposits in SD, rank 6 of 82 institutions
- Period: June 30, 2026. Source: FDIC Summary of Deposits.
- Mortgage lending (HMDA)
- 1,868 applications, 1,306 loans originated, $283.3M originated, across 15 states
- Period: Calendar year 2025. Source: FFIEC HMDA loan application register.
- SBA 7(a) lending
- 57 loans, $37.4M approved, $656K average. 0.00% of that year's loans have since been charged off
- Period: Federal fiscal year 2025 (October to September). Source: SBA 7(a) and 504 loan data (FOIA).
- Not on file
- Consumer complaints, CFPB enforcement, CRA examination rating. No record from these sources, which is not the same as a clean record. Sources
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Frequently asked about First Bank & Trust
What are First Bank & Trust's total assets?
As of the Q2 2026 filing, First Bank & Trust reported total assets of $4.78 billion in its FFIEC call report.
Where is First Bank & Trust headquartered?
It is headquartered in Brookings, SD, United States.
When was First Bank & Trust founded?
It was established in 1925, per the FDIC institution directory.
Is First Bank & Trust FDIC-insured?
Yes. It is an FDIC-insured commercial bank (FDIC Certificate #3973). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates First Bank & Trust?
First Bank & Trust's primary federal regulator is the FDIC.
How many branches does First Bank & Trust operate?
It operates 22 domestic offices, per the FDIC institution directory. That count includes administrative and limited-service offices as well as full-service branches.
What is First Bank & Trust's Texas Ratio?
Its Texas Ratio is 3.95% in its Q2 2026 call report, within the healthy range (at or below 50%, the level at which problem assets reach half of the capital cushion). The Texas Ratio measures non-performing assets against the bank's capital and reserves.
What was First Bank & Trust previously called?
The charter now named First Bank & Trust has also operated as First National Bank in Brookings (1958-2004), per FDIC structure-change records.
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