First National Bank South Dakota

First National Bank South Dakota was a bank headquartered in Yankton, South Dakota. In 2014, its charter was consolidated with that of its affiliate, First National Bank of Omaha.

First National Bank South Dakota

Founded	October 5, 1962; 62 years ago (1962-10-05)
Defunct	July 28, 2014; 10 years ago (2014-07-28)
Headquarters	Yankton, South Dakota
Footnotes / references [1]

History

The bank was established 1962 as Valley State Bank. Its name was changed on July 19, 1994.^[1] The name change triggered a trademark lawsuit, First National Bank, in Sioux Falls v. First National Bank, South Dakota, that is quoted as an example of weakness of the "likelihood of confusion" argument in the trademark disputes: while the Sioux Falls bank prevailed, with courts finding that the South Dakota bank was indeed targeting the competitor's customers, and its ads in the newspaper were misleading, the injunction (prohibition of using the brand within the 10-mile distance from the headquarters of First National Bank in Sioux Falls) was very weak.^[2]

In 1999, it acquired Commercial Trust And Savings Bank of Mitchell, South Dakota, which had 5 branches.^[3][4][1]

In 2014, its charter was consolidated with that of its affiliate, First National Bank of Omaha.^[5][1]

References

1. "First National Bank South Dakota". Federal Deposit Insurance Corporation.
2. Conley, John M.; Hunter, Jayne C. (2007). "The Curse of History: Good Bank Brands Make Bad Bank Trademarks". North Carolina Banking Institute. 11 (1): 17–18.
3. "First National Seeks Merger With Mitchell Bank". Press & Dakotan. July 17, 1999.
4. "Corporate Decision #99-29" (PDF). Office of the Comptroller of the Currency. September 1999.
5. "First National consolidating charters". Rapid City Journal. February 11, 2014.