Premier Bank's Long-Standing Commitment To Community Transport

First Premier Bank, headquartered in Sioux Falls, South Dakota, was founded in 1986 and is owned by T. Denny Sanford. The bank is known for specialising in subprime credit cards marketed to individuals with low credit scores. It is the 9th largest issuer of Mastercard credit cards in the United States and has been recognised as one of S&P's Best Performing Large Community Banks. Over the years, First Premier Bank has faced legal troubles, including a case with the New York Attorney General in 2007, which resulted in a $4.5 million settlement. Despite this, the bank has received numerous awards and recognitions, including being named one of the Best Banks to Work For by American Banker Magazine for seven consecutive years (2015-2022).

First Premier Bank was founded in 1986 and is headquartered in Sioux Falls, South Dakota

First Premier Bank, with its headquarters in Sioux Falls, South Dakota, has been in business for over 35 years. Founded in 1986, the bank is a well-established financial institution that provides a range of personal and business banking services to its customers.

The bank is known for its wide array of financial products, including flexible personal checking accounts, savings options, loans, credit lines, and mortgages. With a focus on customer convenience, First Premier Bank offers free online and mobile banking, bill pay, mobile deposit, and access to a vast network of surcharge-free ATMs across the nation.

In addition to its personal banking services, First Premier Bank also caters to the needs of businesses, offering business rewards credit cards and investing services. The bank's private banking services are tailored for higher net-worth individuals, providing concierge-style banking, financial and investment planning, portfolio management, and personal trust services.

First Premier Bank is committed to giving back to its community and has made significant contributions to various causes. The bank's values are centered around supporting its customers, employees, and the wider community. This dedication to community engagement sets First Premier Bank apart and has earned it recognition as a valued financial institution in the region.

With its long history, diverse range of financial products, and dedication to community involvement, First Premier Bank has established itself as a trusted and reliable financial partner for individuals and businesses in Sioux Falls, South Dakota, and beyond. The bank's headquarters in Sioux Falls serves as a central hub for its operations, ensuring that customers across the region have access to the financial services they need.

The bank offers free online and mobile banking, bill pay, and mobile deposits

First PREMIER Bank offers a range of flexible personal and business checking accounts with free online and mobile banking, bill pay, mobile deposits, and more. The free online and mobile banking features give customers 24/7 access and control over their accounts, allowing them to check balances, transfer funds, pay bills, and view their statements at any time. The mobile app brings the functionality of online banking to customers' mobile devices, enabling them to make deposits using their phones.

The online bill pay feature allows users to schedule and make payments securely through online or mobile banking. Customers can set up unlimited single or recurring payments, receive text and email notifications for scheduled or paid bills, and track their payment history for up to 18 months. They can also receive and manage electronic bills (eBills) for payees offering electronic billing.

First PREMIER Bank's mobile banking app provides added convenience by allowing users to deposit checks using their mobile phones. This feature eliminates the need to visit a physical bank branch and gives customers the flexibility to conduct financial transactions from anywhere.

In addition to the basic functionalities, First PREMIER Bank offers a range of tools to help customers manage their finances effectively. These include personal financial management tools for analyzing spending patterns and planning budgets, as well as a credit score tool to aid in making informed financial decisions. The bank also provides electronic bank statements that can be securely printed or downloaded for record-keeping purposes.

First Premier Bank provides a range of personal and business banking services, including loans, credit cards, and mortgages

First Premier Bank, headquartered in Sioux Falls, South Dakota, has been in business since 1986. The bank provides a comprehensive suite of personal and business banking services, including loans, credit cards, and mortgages.

Personal Banking Services

First Premier Bank offers flexible personal checking accounts with free online and mobile banking, bill pay, mobile deposit, and more. The bank's FREE+ Checking account has no hidden fees or monthly maintenance charges. Additionally, customers with a total monthly deposit relationship of $15,000 or more can enjoy benefits like free checks and reward rates on CDs. The bank also provides overdraft protection and security and fraud protection services.

Credit Cards

First Premier Bank is an issuer of MasterCard brand credit cards in the United States. The bank specializes in a wide range of subprime credit cards that are marketed to individuals with low credit scores. The typical First Premier Bank MasterCard user employs the card for about 18 months before transitioning to another card with better terms.

Loans

First Premier Bank offers competitive rates on personal loans, auto loans, home improvement loans, debt consolidation loans, and more. They also provide flexible lines of credit, including easy access lines of credit, home equity lines of credit, and advance access lines of credit for higher-income individuals.

Mortgages

The bank offers competitive rates for home mortgages, construction loans, refinancing, and more. Customers can apply for mortgages online and benefit from fast processing, online status reporting, and personal support. First Premier Bank specializes in jumbo loans with competitive mortgage rates and fees.

Other Services

In addition to the services mentioned above, First Premier Bank provides a range of other financial products and services, including retirement planning, investment management, insurance, and trust services. They also offer student banking services, such as college checking accounts, internships, and scholarships.

They specialize in subprime credit cards for individuals with low credit scores

First Premier Bank, headquartered in Sioux Falls, South Dakota, issues MasterCard-branded credit cards in the United States. The bank was founded in 1986 and is owned by T. Denny Sanford.

First Premier Bank is known for specializing in a wide range of subprime credit cards that are marketed to individuals with low credit scores. These cards are designed to provide a "lifeline" for those with poor credit, allowing them to build or improve their credit history. The typical First Premier Bank MasterCard user utilizes the card for approximately 18 months before transitioning to another card with better terms.

The bank has faced criticism and legal action for its high-interest rates and low credit limits. In 2010, they offered a card with a 79.9% interest rate and a $300 limit, which was criticized by Senator Bernie Sanders as "extortion and loan sharking". The bank's CEO, Dana J. Dykhouse, has also been criticized for "gouging poor people" by offering cards with excessive fees and unfavourable terms.

Despite the criticism, First Premier Bank has won several awards, including two 2023 Gold Stevie Awards for Contact Center of the Year and Front-Line Customer Service Team of the Year. The bank also provides a range of other financial services, including personal and business banking, loans, mortgages, and investment planning.

First Premier Bank has won several awards for its customer service and has been recognized as a great place to work

First Premier Bank has been in business since 1986. The bank specializes in offering a wide range of subprime credit cards to individuals with low credit scores.

In 2023, First Premier Bank won two Gold Stevie Awards for Contact Center of the Year and Front-Line Customer Service Team of the Year, as well as a Bronze Stevie for Customer Service Management Team of the Year. These awards recognize the bank's commitment to providing exceptional customer service and support.

Additionally, First Premier Bank has consistently been named one of the "Best Banks to Work For" by American Banker Magazine for nine consecutive years, from 2015 to 2023. This recognition highlights the bank's commitment to its employees and its positive work culture.

The bank also believes in giving back to the community and supporting various organizations. They are one of the largest givers to local United Way organizations and actively support research, academics, and athletics at their state's schools. First Premier Bank is committed not just to financial success but also to making a positive impact in the communities they serve.

Frequently asked questions