American Bank & Trust INSPIRE | CREATE | GROW AMERICAN BANK & TRUST TO ACQUIRE VALLEY EXCHANGE BANK (Sioux Falls, SD - April 28, 2023) - American Bank & Trust, headquartered in Sioux Falls, SD, announces its acquisition of Valley Exchange Bank. Valley Exchange Bank has locations in Lennox and Tea, South Dakota. American Bank & Trust is a 131-year-old South Dakota community bank chartered in 1892 and is one of the longest continually operated banks in South Dakota. The bank is owned by the Preston Steele family from Huron and the Jeff Erickson family from Sioux Falls. "This is a great transition for our customers, employees, and shareholders," stated Roger Haugo, owner, President and CEO of Valley Exchange Bank. "We share the same community banking values and relationship focused business model. We look forward to adding new products, services, and technology for our customers as we move forward. This also gives our customers more banking locations to utilize in South Dakota." "We are pleased to have Valley Exchange Bank join our banking family." explains Doug Tribble, President and CEO of American Bank & Trust. "Lennox and Tea are outstanding South Dakota communities. We look forward to serving the commercial, agribusiness and consumers in both communities with expanded product offerings, enhanced technology. Wealth advisory services and over 90,000 surcharge free ATM's. As community banks, both organizations have a strong commitment to their customers and communities," adds Tribble. The transaction is pending regulatory approval and is expected to close in the third quarter of 2023. With this acquisition, American Bank & Trust will exceed $1.5 billion in assets and have 18 locations. American Bank & Trust focuses on being a strong, well-managed, growing, innovative community bank with high integrity and an excellent reputation. Locally owned and managed, the bank currently has branch locations in Aberdeen, Carthage, De Smet, Huron, Iroquois, Mellette, Miller, Pierre, Sioux Falls (3), Stickney, Watertown, Wessington Springs, Wolsey, and Worthington, MN. To learn more, visit www.ABT.bank. ABT.bank Member FDIC American Bank & Trust INSPIRE | CREATE | GROW AMERICAN BANK & TRUST TO ACQUIRE VALLEY EXCHANGE BANK ( Sioux Falls , SD - April 28 , 2023 ) - American Bank & Trust , headquartered in Sioux Falls , SD , announces its acquisition of Valley Exchange Bank . Valley Exchange Bank has locations in Lennox and Tea , South Dakota . American Bank & Trust is a 131 - year - old South Dakota community bank chartered in 1892 and is one of the longest continually operated banks in South Dakota . The bank is owned by the Preston Steele family from Huron and the Jeff Erickson family from Sioux Falls . " This is a great transition for our customers , employees , and shareholders , " stated Roger Haugo , owner , President and CEO of Valley Exchange Bank . " We share the same community banking values and relationship focused business model . We look forward to adding new products , services , and technology for our customers as we move forward . This also gives our customers more banking locations to utilize in South Dakota . " " We are pleased to have Valley Exchange Bank join our banking family . " explains Doug Tribble , President and CEO of American Bank & Trust . " Lennox and Tea are outstanding South Dakota communities . We look forward to serving the commercial , agribusiness and consumers in both communities with expanded product offerings , enhanced technology . Wealth advisory services and over 90,000 surcharge free ATM's . As community banks , both organizations have a strong commitment to their customers and communities , " adds Tribble . The transaction is pending regulatory approval and is expected to close in the third quarter of 2023 . With this acquisition , American Bank & Trust will exceed $ 1.5 billion in assets and have 18 locations . American Bank & Trust focuses on being a strong , well - managed , growing , innovative community bank with high integrity and an excellent reputation . Locally owned and managed , the bank currently has branch locations in Aberdeen , Carthage , De Smet , Huron , Iroquois , Mellette , Miller , Pierre , Sioux Falls ( 3 ) , Stickney , Watertown , Wessington Springs , Wolsey , and Worthington , MN . To learn more , visit www.ABT.bank . ABT.bank Member FDIC