First International Bank & Trust Awarded the 2016 Readers' Choice Award

Posted: Mar 06 2017
First International Bank & Trust’s story just gets better and better. What started in 1910 as a small bank for farmers in rural western North Dakota has grown into a multi-billion dollar, full-service financial institution serving customers in three states through 26 branches.
 
The founders
Newcomers to Arnegard, N.D., after having accepted the offer of farm land under the Home-stead Act, Norwegian-American brothers Odin and Gerhard Stenehjem soon recognized the need for a lender in the booming agricultural region and opened Farmer’s State Bank of Arnegard.
 
That name was changed in 1934 to First International Bank and the business was moved to Watford City.
 
Since its inception the bank has served its customers uninterruptedly and without the loss of a single depositor’s dollar.
 
Milestones
  • 1990: First International Bank acquires Midwest Federal Savings & LoanFirstInternationalBankTrustLogo.jpg offices in Williston, Killdeer, Minot, Harvey, and Fargo.
  • 1992: Trust powers are added and the bank becomes First International Bank & Trust. Steven Stenehjem, son of Leland Stenehjem, serves as president.
  • 1997, 2000, 2007: A new office is opened in Minot, two offices in Arizona are merged with those in ND, a new office is opened in Gilbert, Ariz.
  • 2015: A third branch in Minot opens on North Hill and expansions are made in Bismarck and Rugby.
 
Another source of pride
And now, First International Bank & Trust has been selected for the Readers’ Choice Award, picked by Minot area residents from a wide field of financial institutions.
 
Employees feel honored by their selection, said John Drady, Market President for Central North Dakota. “We always hold ourselves to a high standard when it comes to the communities we serve and the customers that honor us by giving us their business. All of our employees take their responsibilities to our customers very seriously, so to receive this honor truly is a reflection on the great staff we have in Minot. We love serving the businesses and people in Minot as well as the surrounding area and it’s nice to see our employees’ efforts being recognized by people in the community.”
 
Continued commitment
Now in its fourth generation of leadership of First International Bank & Trust, the Stenehjem family remains as it was in 1910: committed to the economic and cultural well-being of the areas it serves.
 
 
As an investor of MADC, we are thrilled to share this story about First International Bank & Trust’s well-deserved 2016 Readers’ Choice Award. Thank you First International Bank & Trust for your continued investment in MADC and your commitment to the Minot community.
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