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Great Western Bank, whose holding company was Great Western Bancorp, Inc. (), was a regional bank based in
Sioux Falls, South Dakota Sioux Falls ( ) is the List of cities in South Dakota, most populous city in the U.S. state of South Dakota and the List of United States cities by population, 117th-most populous city in the United States. It is the county seat of Minnehaha Coun ...
,
United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...
. There were over 170 locations in
Arizona Arizona is a U.S. state, state in the Southwestern United States, Southwestern region of the United States, sharing the Four Corners region of the western United States with Colorado, New Mexico, and Utah. It also borders Nevada to the nort ...
,
Colorado Colorado is a U.S. state, state in the Western United States. It is one of the Mountain states, sharing the Four Corners region with Arizona, New Mexico, and Utah. It is also bordered by Wyoming to the north, Nebraska to the northeast, Kansas ...
,
Iowa Iowa ( ) is a U.S. state, state in the upper Midwestern United States, Midwestern region of the United States. It borders the Mississippi River to the east and the Missouri River and Big Sioux River to the west; Wisconsin to the northeast, Ill ...
,
Kansas Kansas ( ) is a landlocked U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Nebraska to the north; Missouri to the east; Oklahoma to the south; and Colorado to the west. Kansas is named a ...
,
Minnesota Minnesota ( ) is a U.S. state, state in the Upper Midwestern region of the United States. It is bordered by the Canadian provinces of Manitoba and Ontario to the north and east and by the U.S. states of Wisconsin to the east, Iowa to the so ...
,
Missouri Missouri (''see #Etymology and pronunciation, pronunciation'') is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. Ranking List of U.S. states and territories by area, 21st in land area, it border ...
,
Nebraska Nebraska ( ) is a landlocked U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders South Dakota to the north; Iowa to the east and Missouri to the southeast, both across the Missouri River; Ka ...
,
North Dakota North Dakota ( ) is a U.S. state in the Upper Midwest, named after the indigenous Dakota people, Dakota and Sioux peoples. It is bordered by the Canadian provinces of Saskatchewan and Manitoba to the north and by the U.S. states of Minneso ...
and
South Dakota South Dakota (; Sioux language, Sioux: , ) is a U.S. state, state in the West North Central states, North Central region of the United States. It is also part of the Great Plains. South Dakota is named after the Dakota people, Dakota Sioux ...
. In September of 2021 they announced a merger with
First Interstate BancSystem First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern Uni ...
and completed it in February of the following year. Great Western Bank had assets of $12.39 billion at the time of its merger.


History

Great Western Bank's charter began in 1935 with the establishment of the Farmers and Merchants Bank in Watertown, South Dakota. The bank's name was changed to Great Western Bank in 2003. It was acquired by
National Australia Bank National Australia Bank Limited (abbreviated NAB, branded and stylised as nab) is one of the four largest Banking in Australia, financial institutions in Australia (colloquially referred to as "Big Four (banking), The Big Four") in terms of mar ...
in 2008. In October 2014, NAB began to release its holding through an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
. NAB sold its final listing in July 2015. In 2010, Great Western took over the failed
Lincoln, Nebraska Lincoln is the List of capitals in the United States, capital city of the U.S. state of Nebraska. The city covers and had a population of 291,082 as of the 2020 census. It is the state's List of cities in Nebraska, second-most populous city a ...
-based TierOne Bank. In November 2015, Great Western announced the acquisition of
Sioux Falls Sioux Falls ( ) is the most populous city in the U.S. state of South Dakota and the 117th-most populous city in the United States. It is the county seat of Minnehaha County and also extends into northern Lincoln County. The population was 192 ...
-based HF Financial Corp., the parent company of Home Federal Bank. In 2021, Great Western Bank signed a definitive agreement to merge with Montana-based
First Interstate BancSystem First Interstate BancSystem, Inc. is a financial holding company headquartered in Billings, Montana. It is the parent company of First Interstate Bank, a community bank with locations throughout 14 states within the Western and Midwestern Uni ...
. The merger was completed on February 1, 2022, making Great Western an operating division of First Interstate Bank; Great Western locations became First Interstate Bank branches on May 23, 2022.


References


External links

*
Archive of Investor Relations website
{{DEFAULTSORT:Great Western Bank (1935-present) Banks based in South Dakota Banks established in 1935 Companies based in Sioux Falls, South Dakota Companies formerly listed on the New York Stock Exchange 2014 initial public offerings 2022 mergers and acquisitions