Great Western Bank (South Dakota)
{{for|the defunct bank headquartered in California|Great Western Bank (1919–1997)}}
{{Use mdy dates|date=November 2022}}
{{Infobox company
| name = Great Western Bancorp, Inc.
| trading_name = Great Western Bank
| logo = Great Western Bank (modern logo).png
| type = Public
| traded_as = {{NYSE was|GWB}} (2004-2022)
| foundation = {{start date and age|1935}}
| defunct = {{end date and age|2022|2|1}}
| fate = Acquired by First Interstate BancSystem
| location = Sioux Falls, South Dakota, United States
| key_people = Kevin P. Riley, President & CEO
| num_employees = Nearly 1,500 (2012){{cite web|title=Fact Sheet|url=http://www.greatwesternbank.com/aboutus/mediacenter/factsheet/|archive-url=https://web.archive.org/web/20120719041539/http://www.greatwesternbank.com/aboutus/mediacenter/factsheet/|archive-date=2012-07-19|url-status=dead}}
| successor = First Interstate Bank
| industry = Financial services
| products = Financial services
| assets = $32.00 billion
| homepage = {{url|https://web.archive.org/web/20210910003913/https://www.greatwesternbank.com/|Last snapshot of website prior to merger}}
}}
Great Western Bank, whose holding company was Great Western Bancorp, Inc. ({{NYSE was|GWB}}), was a regional bank based in Sioux Falls, South Dakota, United States. There were over 170 locations in Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota. In September of 2021 they announced a merger with First Interstate BancSystem and completed it in February of the following year. Great Western Bank had assets of $12.39 billion at the time of its merger. {{Cite web|url=https://www.greatwesternbank.com/about-us/our-story|title=About Us|url-status=dead|access-date=January 5, 2015|archive-date=January 5, 2015|archive-url=https://web.archive.org/web/20150105113330/https://www.greatwesternbank.com/about-us/our-story}}
History
Great Western Bank's charter began in 1935 with the establishment of the Farmers and Merchants Bank in Watertown, South Dakota.{{cite web|url=https://www.greatwesternbank.com/about-us/|title=About Us|date=|website=Great Western Bank|accessdate=July 21, 2019|url-status=dead|archive-date=July 13, 2019|archive-url=https://web.archive.org/web/20190713101201/https://www.greatwesternbank.com/about-us/}}{{failed verification|date=December 2022|reason=Unable to find anything that mention connection to Farmers and Merchants Bank.}} The bank's name was changed to Great Western Bank in 2003. It was acquired by National Australia Bank in 2008. In October 2014, NAB began to release its holding through an initial public offering.{{cite news|last1=Yeates|first1=Clancy|title=Why National Australia Bank's selling final stake in Great Western Bank|url=http://www.smh.com.au/business/banking-and-finance/why-national-australia-banks-selling-final-stake-in-great-western-bank-20150717-giedue.html|accessdate=14 February 2016|work=Sydney Morning Herald|date=17 July 2015}} NAB sold its final listing in July 2015.{{cite news|title=NAB sells remaining Great Western stake|url=http://www.skynews.com.au/business/business/national/2015/07/29/nab-sells-remaining-great-western-stake.html|accessdate=14 February 2016|work=Sky News Australia|date=29 July 2015|url-status=dead|archive-date=February 23, 2016|archive-url=https://web.archive.org/web/20160223044601/http://www.skynews.com.au/business/business/national/2015/07/29/nab-sells-remaining-great-western-stake.html}}
In 2010, Great Western took over the failed Lincoln, Nebraska-based TierOne Bank.{{cite news|title=Feds close TierOne Bank; S.D. bank assumes deposits|url=http://journalstar.com/business/local/feds-close-tierone-bank-s-d-bank-assumes-deposits/article_c883b302-702f-11df-959a-001cc4c03286.html|accessdate=March 7, 2017|work=Lincoln Journal Star|date=June 5, 2010}} In November 2015, Great Western announced the acquisition of Sioux Falls-based HF Financial Corp., the parent company of Home Federal Bank.{{cite news|title=Great Western Bank to acquire Home Federal Bank|url=http://www.argusleader.com/story/news/business-journal/2015/11/30/great-western-bank-acquire-home-federal-bank/76577298/|accessdate=March 7, 2017|work=Argus Leader|date=November 30, 2015}}
In 2021, Great Western Bank signed a definitive agreement to merge with Montana-based First Interstate BancSystem.{{cite news|last1=Abrego|first1=Trent|title=Great Western Bank to join First Interstate brand in all-stock transaction|url=https://www.aberdeennews.com/story/business/2021/09/16/great-western-bank-and-first-interstate-bank-announce-merger/8362330002/|accessdate=9 March 2022|work=Aberdeen News|date=16 September 2021}} The merger was completed on February 1, 2022, making Great Western an operating division of First Interstate Bank; Great Western locations became First Interstate Bank branches on May 23, 2022.{{cite news|last1=|first1=|title=First Interstate BancSystem acquires Great Western Bancorp for $2 billion|url=https://m.bankingexchange.com/news-feed/item/9121-first-interstate-bancsystem-acquires-great-western-bancorp-for-2-billion|accessdate=9 March 2022|work=Banking Exchange|date=2 February 2022}}{{cite news|last1=|first1=|title=Former Great Western Bank branches open today as First Interstate Bank|url=https://businessrecord.com/MobileContent/Banking-Finance/Banking-Finance/Article/Former-Great-Western-Bank-branches-open-today-as-First-Interstate-Bank/194/1025/97597|accessdate=8 June 2022|work=Des Moines Business Record|date=23 May 2022}}
References
{{Reflist}}
External links
- {{official website|https://web.archive.org/web/20210910003913/https://www.greatwesternbank.com/|Last snapshot of website prior to merger in 2022}}
- [https://web.archive.org/web/20220000000000*/https://ir.greatwesternbank.com/corporate-overview/corporate-profile/default.aspx Archive of Investor Relations website]
{{DEFAULTSORT:Great Western Bank (1935-present)}}
Category:Banks based in South Dakota