Question 1

What is American State Bank & Trust?

Accepted Answer

American State Bank & Trust is a community-focused commercial bank serving Williston, North Dakota, and the surrounding areas. With approximately $632 million in total assets and 2 branch locations, the bank specializes in commercial lending while also offering comprehensive retail banking services. The institution is known for its strong local presence and commitment to personalized financial services, having been continuously operated by the Davidson family for over a century.

Question 2

When was American State Bank & Trust founded?

Accepted Answer

American State Bank & Trust traces its origins to the late 1890s when the city of Williston was first being established. The bank's earliest predecessor, Citizens National Bank, operated from a rustic log shack on Main Street where the Renaissance on Main building now stands. In 1910, Citizens National Bank merged with First National Bank, continuing operations under the First National Bank name.

The current entity was formally established on December 1, 1936, and received FDIC insurance on December 18, 1936. A pivotal moment in the bank's history came in 1906 when W.S. Davidson, Sr. joined as cashier of Citizens National Bank, beginning what would become over 119 years of continuous Davidson family involvement in the bank's ownership and operation.

Question 3

Where is American State Bank & Trust headquartered?

Accepted Answer

American State Bank & Trust is headquartered at 223 Main Street in Williston, North Dakota. The main bank building, which opened in April 1956, has undergone several expansions and renovations over the decades. Notable updates include a complete ground floor redesign in 2000 that transformed it into a state-of-the-art facility, a new drive-up facility with television monitors added in 2006, and a major expansion completed in February 2014 that included a complete exterior facelift.

Question 4

Where does American State Bank & Trust operate?

Accepted Answer

American State Bank & Trust operates exclusively in the Williston, North Dakota metropolitan area within Williams County. The bank maintains two full-service branches: the main office at 223 Main Street and the North Station branch at 2523 2nd Avenue West, which opened on August 26, 1982.

Both locations offer full teller services, customer service representatives, and 24-hour drive-up ATMs. The bank's focused geographic footprint allows it to maintain deep roots in the Williston community while serving the surrounding region.

Question 5

What services does American State Bank & Trust offer?

Accepted Answer

American State Bank & Trust provides a comprehensive range of banking services for both personal and business customers. Personal banking services include checking and savings accounts (many with no monthly fees and interest-earning options), auto loans, recreational loans, personal loans, agricultural loans, and home mortgage loans.

For business customers, the bank offers commercial lending, business lines of credit, business leasing, and SBA loans. The institution added trust services in 1979 through its dedicated Trust Department.

In 2006, the bank partnered with Raymond James Financial Services to provide full investment brokerage services to customers. Digital banking capabilities include mobile banking with mobile check deposit (Quick Pic Deposit), online banking, bill pay, account management tools, budgeting features, free credit score access, and real-time alerts via text, push notifications, or online banking. The bank also offers instant-issue debit cards and card payment processing services for businesses.

Question 6

What makes American State Bank & Trust unique?

Accepted Answer

American State Bank & Trust stands out for its remarkable continuity of local ownership and community commitment. The Davidson family has been integral to the bank's operation since 1906, spanning four generations. Current board member Tammy Davidson Sogard and her husband Patrick Sogard, who serves as Chairman of the Board, continue the family's tradition of maintaining local ownership and providing personalized financial service.

The bank's mission centers on making the community better through creative financial services and market-leading community support. With 74 employees who live and work in the communities they serve, the bank emphasizes its role as "Banker. Neighbor. Friend."

The institution's growth trajectory demonstrates its success—when planning the new main bank in 1951, a $50 million bank seemed far-fetched, yet assets surpassed that milestone in 1976 and exceeded $220 million by 2006. Today, with strong financial performance including a Return on Assets of 2.37% and Return on Equity of 30.27%, the bank balances modern banking technology with traditional community values.

Question 7

What type of financial institution is American State Bank & Trust?

Accepted Answer

American State Bank & Trust is a Commercial Bank with a state charter. As a state-chartered, FDIC-insured institution that is not a member of the Federal Reserve System, it operates under the supervision of the Federal Deposit Insurance Corporation (FDIC).

The bank is classified as a community bank with a commercial lending specialization, meaning it focuses on serving local businesses while also providing comprehensive retail banking services to individual consumers. It is owned by American STB Holding Co Inc, a holding company, and is structured as a Subchapter S Corporation. Despite its commercial banking classification, American State Bank & Trust maintains a strong commitment to both business and personal banking customers throughout the Williston area.

Question 8

How has American State Bank & Trust adapted to the Bakken oil boom?

Accepted Answer

Williston, North Dakota, is located in the heart of the Bakken oil formation, which experienced significant development and economic growth during the oil boom of the 2000s and 2010s. American State Bank & Trust has been positioned to support the region through this transformative period.

The bank's commercial lending specialization and local decision-making capabilities have enabled it to provide crucial financial support to businesses and individuals during periods of rapid economic change. The institution's 2014 expansion and facility upgrades came during a time of significant regional growth, demonstrating its commitment to serving an evolving community.

With deep roots dating back to Williston's founding, the bank has weathered multiple economic cycles in the region, from agricultural development to energy industry expansion, maintaining its focus on providing stable, reliable banking services through changing economic conditions.

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