July 19, 2018

Dave Thompson, a banking veteran from Mankato, Minn., is the new Sioux Falls market president of Frontier Bank.

Thompson is moving to Sioux Falls after most recently managing a credit union. He has been in banking since 1993 and said he was attracted by the chance to grow Frontier’s deposit and loan base, including small-business lending.

“I am also working to expand our brand in the marketplace,” he said. “There are plenty of opportunities in a growing city like Sioux Falls. We would like to see Frontier Bank be a top choice for banking in this area.”

Thompson replaces Rick Anderson, who is transitioning to director of sales and business development, which is a new position. Anderson has been with the bank for 22 years.

The new role is focused on enhancing existing customer relationships and growing new deposits, business loans, residential loans and trust business.

“I will be based in the community,” Anderson said. “It is important in my new position that I’m out of the bank to form new relationships in our changing and competitive banking environment. I will have an office downtown where customers can meet with me.”

Frontier has two Sioux Falls locations and is based in Rock Rapids, Iowa, with two other branches in northwest Iowa.

The bank is looking to expand in the Sioux Falls market, Thompson said, though that could be through virtual tellers or other technology and not necessarily with more building space.

“I am a firm believer that the banking industry cannot just stay in brick-and-mortar form or the cost of doing business will make it too difficult to offer customers the best savings and loan rates,” he said. “I believe that banking will look very different than just new branches in the next five to 10 years. We are firm believers in relationship banking, and that is another reason that I am here, to afford Rick the opportunities to expand on those relationships while creating ones of my own.”

The bank is still looking for a coffee shop to share part of its downtown space at Ninth Street and Phillips Avenue. It has been available since Pappy’s the Original closed a year ago.

“It is our intent to find a small, viable shop in the near future to occupy the space and bring a valued business to the downtown area once again,” Thompson said.