South Dakota bank expands to Nevada

Wednesday, Aug. 4, 1999 | 11:06 a.m.

First Savings Bank, a federally chartered thrift based in Berford, S.D., has opened a branch in Las Vegas, its first in Nevada.

"This is a growing economy," branch president Fred Stevens said of Las Vegas. "We're wanting to focus on small to medium-sized commercial lending. What better place to be in the country than Las Vegas?"

Stevens said the bank, 2365B Renaissance Drive, near Eastern and Tropicana avenues, would be fully staffed with six employees by the end of the month. He said First Savings is committed to personal service.

Bank employees -- called "financial service officers" -- establish checking and savings accounts and service loans from desks. There are no traditional teller counters at the bank.

The branch is federally chartered through the Office of Thrift Supervision and the Federal Deposit Insurance Corp. The company's largest branch is in South Dakota. It has 36 branches in South Dakota, New Mexico, Texas, Minnesota, Iowa and Illinois.

Stevens has been in the banking industry in northwest Iowa for 25 years.

He said it is too early to tell whether First Savings would expand in Las Vegas or elsewhere in the state.

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