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Roberts County National Bank of Sisseton to Merge with First Savings Bank



Sisseton, SD – October 4, 2018 - First Savings Bank, Beresford, SD announced the signing of a stock purchase agreement to acquire Roberts County National Bank of Sisseton and Powell-Kouba-Torness Insurance Agency, Inc., each owned by the RCN Holding Company of Sisseton, SD.  The acquisition will be immediately followed by a merger of Roberts County National Bank into First Savings Bank, and thereafter Roberts County National Bank will operate under the name of First Savings Bank.

“The combination of our bank and First Savings Bank provides an excellent opportunity to join a group that shares our deep commitment to the values of community banking,” said William Torness, President of Roberts County National Bank.

Torness stated this merger offers bank customers additional banking products and services, like mobile banking, mobile deposit, bill pay, cash management and additional loan services.  “Our bank customers will now have access to all First Savings Bank locations in our region and beyond.”

“Our customers will continue to receive the same great service from the staff they have known through the years and the commitment to the growth and success for the community and area will not change.”

Morgan Larson, President and CEO of First Savings Bank, Beresford, said “We are excited to welcome customers of Roberts County National Bank to the First Savings Bank family.”

For more than 100 years, our family-owned business has remained committed to delivering state of the art banking services and technology with the personalized service you find only in community banks. Today, First Savings Bank offers full service community banking throughout South Dakota, Nebraska, New Mexico, Nevada, Texas and Arizona.

“First Savings Bank is a safe and sound community bank and our partnership with them aligns with our bank’s core values,” John Rasmussen, Chairman of RCNHC stated.  “This new partnership is a good fit for our bank’s customers, employees and our community.  FSB has a strong commitment to agriculture, small business and helping individuals and families attain financial success and security. That’s really the core of community banking.”

The acquisition still requires regulatory approval.  The transaction is set to close in late 2018.

According to Larson, “At First Savings Bank, we do more than just promise to meet our customers’ banking needs. We take great pride in treating each and every one of our customers with the attention and care they deserve. First Savings Bank will always be your community bank, committed to doing what’s right for our customers in this generation – and the next.”

For more information about First Savings Bank can be found at www.firstsavingsbanks.com.

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