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601 South Minnesota Avenue
Sioux Falls, SD 57104

First PREMIER Bank is headquartered in Sioux Falls and is the 6th largest bank in the state of South Dakota. It is also the 521st largest bank in the nation. It was established in 1914 and as of March of 2014, it had grown to 310 employees at 17 locations. First PREMIER Bank has a A+ health rating.

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Reviews (3)

A Terrible Place To Bank With

first premier bank, is a typical lending institution issueing credit cards to people with less than perfect credit, true. Ihave been with this bank for months now, I recently requested a credit line increase, was rejected. The reason being that rules imposed by this bank were not followed. They claim late payments, late according to the rules of this bank. A late payment in the credit industry is a payment exceeding 30 days, this bank willl consider you late if you exceed their date which is far less than 30 days. But they sure seem to like the fee that they charge on their so called late payments. Also the monthly feee, and don't forget the yearly fee. oh yes a very low credit line that keeps your credit score low so you have no choice but to stay with lenders like these that pray on people that have tempoary hardships. Hurricanes, fires etc. Payday loans are much cheeper. I never have exceeded 30 days with this bank, will be paying it off soon . I don't recomend this bank to anyone.

Predatory Lender.

First Premier bank is a purveyor of high interest, high fee credit cards marketed to the unsophisticated individuals.

Poor Online Service

Extremely slow online banking. It will usually take several days (as much as a week) for debit card purchases to appear, and when they do the dates will be wrong and the entries will be out of order. Most banks will show these transactions near-instantly, although as pending or pre-authorized. This is very weak considering it is 2012.

The bank uses to provide online banking, but for bill pay, and some third service for pdf statements. The three services use separated enrollment/log in systems and present inconsistent interface.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First PREMIER Bank had $2.82 million in non-current loans and owned real-estate with $208.77 million in equity and loan loss allowances on hand to cover it. This gives First PREMIER Bank a Texas Ratio of 1.35% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First PREMIER Bank decreased dramatically from 3.87% as of March 31, 2013 to 1.35% as of March 31, 2014, resulting in a positive change of 65.10%.This indicates that the balance sheet and financial strength for First PREMIER Bank has improved dramatically in recent periods.

Deposit Growth


In the past year, First PREMIER Bank has increased its total deposits by $69.54 million, resulting in 6.94% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First PREMIER Bank has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First PREMIER Bank has $1.31 billion in assets with $208.77 million in equity, resulting in a capitalization level of 15.94%, which is excellent.

Institution Statistics

FDIC Certificate #6085
Year Established1914
Primary RegulatorFED
Assets and Liabilities
Assets$1.31 billion
Loans$757.07 million
Deposits$1.07 billion
Equity Capital$197.23 million
Loan Loss Allowance$11.53 million
Unbacked Noncurrent Loans$2.39 million
Real Estate Owned$431,000
Historic Data - March 2013
Assets$1.23 billion
Equity Capital$184.00 million
Loan Loss Allowance$10.58 million
Unbacked Noncurrent Loans$2.39 million
Real Estate Owned$340,000
Profit Margin - Quarterly
Net Interest Margin4.05%
Return on Assets1.78%
Return on Equity12.25%
Interest Income$12.23 million

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First PREMIER Bank has 17 locations. Click to view all First PREMIER Bank locations.