First Dakota National Bank Rates & Review

First Dakota National Bank Review

Founded in 1872, First Dakota National Bank was the first fully chartered bank in the Dakota Territory.

Based in Yankton, South Dakota, the bank provides the Great Plains states with a comprehensive range of services in personal banking, business banking, investment services and mortgage loans.

Personal banking

Personal banking customers have a variety of savings account and checking account products to choose from. Premium Choice Checking requires a minimum balance in a combination of accounts. This account provides unlimited check writing, interest earnings, free personalized checks and bonus rates on CDs.

Premium Choice account holders enjoy unlimited withdrawals at non First Dakota ATMs, although other bank surcharges may apply. With this account, the bank offers discounts on home mortgage closing costs, installment loans with auto pay, safe deposit box rentals and travel opportunities.

The bank's eSavings account is accessed exclusively online and offers a higher interest rate than other accounts. Also available are money market accounts and CDs with terms from 4 months to 48 months.

Business banking

First Dakota National Bank provides a variety of business banking products and services. Business customers can avail themselves of business checking, cash sweep investments, cash management services and merchant services. The bank offers business loans, business lines of credit and SBA loans.

Credit and loans

The bank provides products and services specific to agricultural businesses in South Dakota, Nebraska, southwest Minnesota, northwest Iowa, northeast Colorado, and southeast Wyoming. Products include checking accounts, loans, lines of credit and auto loans. The bank also offers home mortgages, home equities and student loans.

Investment services

Investment services include retirement and estate planning, trust and investment management, brokerage services and CDs.

Deposit insurance

First Dakota National Bank is a member bank of the Federal Deposit Insurance Corporation. The temporary increase in FDIC coverage from $100,000 to $250,000 per depositor was made permanent in July 2010. All eligible deposits are FDIC-insured up to at least $250,000 per depositor. Joint accounts are FDIC-insured up to at least $250,000 per account holder.