Sept. 30, 2022

A Minnesota-based bank has opened its first location in Sioux Falls.

Worthington-based First State Bank Southwest is at 57th Street and Graystone Avenue in southeast Sioux Falls.

“We’re extremely happy with it,” market president Jordan Huisken said. “Considering some of the horror stories you’re hearing just about supply chain issues and things like that, we were very fortunate that everything fell into place like it did.”

The full-service branch uses interactive teller machines in the lobby and in the drive-thru, which has 24/7 access.

It’s designed for about a 10-person team of lenders and assistants.

When the bank first considered sites, the plan was to locate in a retail center downtown or on East 10th Street, but “the more we familiarized ourselves with traffic patterns and what other financial institutions were doing, I think we ended up finding out there aren’t too many poor locations in Sioux Falls,” Huisken said. “There are so many high-traffic areas in Sioux Falls it’s hard to find a bad location.”

The bank realized it made more sense financially to build than lease and liked the ease of access from that site, he said.

“And then the Highway 100 project came out and really laid out the progression over the next couple years, and that was exciting because we know that will drive more traffic and businesses to this area of town.”

The building was intentionally designed with tall ceiling to act “kind of like a billboard for us,” he added. “We have a 10-foot-by-10-foot light-up sign in our lobby, and it’s a picture of the Falls downtown, and that’s something that projects through all the glass windows at night because it’s lit up. We get a lot of comments from people about the artwork, so it really spurs conversations with people when they do come in the lobby.”

The bank is hiring for its lending team. Hours are 8:30 a.m. to 5 p.m. weekdays.

First State Bank Southwest was chartered in 1903 and has six locations in southwest Minnesota and now Sioux Falls.