First International Bank & Trust in Watford City, N.D., is moving into South Dakota via acquisition of a mortgage brokerage.
Sodak Home Loans will remain at its current location in Sioux Falls, making it First International’s first LPO in the state.
“Today is the starting point of a long-term commitment to the Sioux Falls market,” said eter Stenehjem, president of the $4.2 billion First International. “I look forward to expanding FIBT’s services for businesses and consumers alike and playing a part in supporting the growth of this vibrant city and region.”
Brent VanderGriend, former broker and owner at Sodak Home Loans, joins First International as mortgage market manager.
“This marks a new beginning for us. We are excited to be a part of First International Bank & Trust,” he said. “Being backed by a community bank will allow our lenders to better serve our customers with a wider range of products and enhanced services. ”
First International has 21 offices in North Dakota, three in Minnesota and four in Arizona.