Karl Adam has been elected the 2018-2019 chair of the South Dakota Bankers Association. He is Pierre market president for First Dakota National Bank, Yankton.
Adam joined First Dakota National Bank as part of its acquisition of Dakota State Bank, Blunt, in early 2016. He was president and CEO of the then $35 million bank, which he joined in 1995 as a management trainee. Previously, he worked at the U.S. Department of Commerce as a President George H.W. Bush appointee, and from 1991 to 1994 in the South Dakota Governor’s Office of Economic Development in the business recruitment division.
He has served as a trustee for the Pierre Rawlins Municipal Library Board, including as its president; was a member of the St. Mary’s Foundation board of directors; and as South Dakota Republican chairman from 2006 to 2008. He has a Bachelor of Arts degree in political science and a master’s degree in public administration from the University of South Dakota, Vermillion.
Other officers for 2018-2019 are: Chairman-Elect Shawn Rost, South Dakota market president, First Interstate Bank, Rapid City; Vice Chairman Steve Bumann, chief financial officer, BankWest, Pierre; and Immediate Past Chairman Dave Rozenboom, president, First PREMIER Bank, Sioux Falls.
The new officers started their year-long terms immediately following the SDBA’s annual business meeting held June 12 in Fargo, N.D. It occurred during the 2018 annual convention, held jointly with the North Dakota Bankers Association June 10-12 in Fargo. The term for the new officers is effective now through next year’s annual convention in Sioux Falls.