First National Bank South Dakota
| Company type | Financial institution |
|---|---|
| Industry | Banking |
| Predecessor | Valley State Bank |
| Founded | 1962 |
| Defunct | 2014 |
| Fate | Merged with First National Bank of Omaha |
| Headquarters | Yankton , United States |
Area served | South Dakota |
First National Bank South Dakota operated as a financial institution based in Yankton, South Dakota. In 2014, its banking charter was merged with that of its related entity, First National Bank of Omaha.
History
Originally founded in 1962 under the name Valley State Bank, the institution underwent a rebranding on July 19, 1994. This renaming triggered a legal dispute over trademarks in the case First National Bank, in Sioux Falls v. First National Bank, South Dakota, which highlighted the complexities surrounding "likelihood of confusion" in trademark law. Although the Sioux Falls bank won the case, the court imposed a limited injunction preventing the South Dakota bank from using its name within a 10-mile radius of Sioux Falls.
In 1999, First National Bank South Dakota grew through the acquisition of Commercial Trust And Savings Bank located in Mitchell, South Dakota, which included five branch locations.
By 2014, the bank's charter was consolidated with that of its affiliate, First National Bank of Omaha, bringing their operations under a single charter.