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Broadcaster Press 09
November 20, 2012 www.broadcasteronline.com
First Dakota National Bank and
Bank 360 reach merger agreement
Larry Ness, Chairman
and CEO of First Dakota
National Bank and Mark
Southwick, CEO and
President of Bank 360,
announce an agreement
has been reached for
Bank 360 to merge into
First Dakota. The
agreement is subject to
regulatory approval.
First Dakota has $900
million in total assets and
14 banking locations in
10 communities
throughout southeast
South Dakota. Bank 360
has locations in Yankton,
Beresford and Elk Point
with $40 million in total
assets.
“We are delighted with
the prospect of serving
the communities of
Beresford and Elk Point,”
said Ness.” These are
good, strong
communities with hard
working and talented
people. We are confident
we can play a role in their
future success and we
can’t wait to get there.”
“I am pleased with this
merger,” said Southwick.
“First Dakota is a strong
financial institution with
a wide range of financial
products and services. We
are especially excited
about their involvement
in agriculture. First
Dakota is the second
largest community ag
bank in the United
States.”
Ness stated, "Our
banking philosophy is to
provide a high level of
customer service and the
products and services our
customers need. There
will be no interruption of
banking services and
CLAY COUNTY 4-H MAKE A DIFFERENCE DAY
Bank 360 customers can
be confident their
accounts are secure and
accessible.”
First Dakota was
founded in 1872 and
holds the Dakota
Territory's first bank
charter. In addition to the
home office in Yankton,
First Dakota has fullservice locations in
Vermillion, Sioux Falls,
Salem, Mitchell,
Parkston, Wagner,
Kimball, Chamberlain
and Oacoma.
The applications to
merge are being filed
with the respective
regulators. Once
approved, the merger will
occur. Closing date is
anticipated to be late
2012 or early 2013.
The South Dakota 4-H state-wide community service project for this 4-H year, October 1,
2012, to September 30, 2013, is “Feed the Hungry in South Dakota.” The Weekend
Backpack Program is a particular focus of this project. On Make a Difference Day 2012, Oct.
27, Clay County 4-H helped the Vermillion Backpack Program with all the county 4-H clubs
coming together. Emily Rolfes, a fourth year member of the Clay County Flyers, organized
the event. Thirty-two 4-H members, leaders, and parents packed 1,800 bags of cereal and
286 bags of cookies. They also baked 588 muffins. This food will be packed into bags to
send home with kids that may not otherwise have enough food to eat over the weekend.
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