South Dakota Bancshares to Buy First State Bank

By Paul Davis February 22, 2016, 1:10 p.m. EST 1 Min Read

South Dakota Bancshares in Pierre, S.D., has agreed to buy First State Bank in Pierre.

The $913 million-asset South Dakota Bancshares, which operates BankWest, expects to complete the purchase of the $113 million-asset First State in the third quarter. The price was not disclosed.

"We know that banking is all about personal relationships and we want to ensure those relationships remain intact," Charles Burke 3rd, BankWest's chairman, president and chief executive, said in a Monday press release. "The only changes customers can expect are enhanced services like mobile banking, mobile deposit and Apple Pay."

BankWest has 13 branches, while First State has four locations.

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