Sept. 11, 2024

American Bank & Trust has started work on new branch in Tea.

The building at Gateway Lane and Heritage Parkway will replace a branch acquired when the bank added Valley Exchange Bank in a merger last year.

The deal was an “opportunity to acquire a bank with a great history and customer base in one of the fastest-growing communities in South Dakota. It fit well into our geographic footprint, and we have been overwhelmed by the positive response from the community,” said Tom Shields, Sioux Falls regional president.

The new location will be nearly 4,000 square feet. It will start with a staff of five and could grow to a dozen.

American Bank & Trust has three branches in the Sioux Falls city limits, one in Lennox and the existing location in Tea.

“We are extremely proud to be embedded in and support the Tea community is several ways, including offering a Tea Area Titans Spirit Card,” Shields said. “For every purchase made on that debit card, AB&T donates a percentage back to the Tea Area School District.”

The bank is estimating the new location will take 10 to 12 months to build, with an opening next summer or fall. It will be joined by a sixth branch at 26th Street and Ellis Road, which the bank is planning to break ground on later this year.