Small Business Spotlight- American Bank & Trust: A legacy of community banking since 1886

American Bank & Trust has built more than a century-long legacy rooted in relationships, trust, and community-focused service. Officially chartered in 1886, the bank began as the Bank of Alpena, a private institution established by L.N. Loomis. Within a few years, D.C. Wallace and H.S. Royer joined the operation, laying the foundation for what would become one of the region’s most enduring community banks.

Growth came steadily over the decades. In 1962, a branch was constructed in Wolsey, followed by the relocation of the parent bank to Wessington Springs in 1964 and a name change to American State Bank. A major milestone occurred in 1972 when Leland Steele and his son Jack Steele of Huron purchased the bank, ushering in a new era of family ownership that continues today.

Expansion continued through strategic acquisitions and de novo branches. Farmers State Bank in Mellette was purchased in 1993, followed by Hand County State Bank in Miller in 2000. In 2002, Lynn Schneider joined as President and CEO, a new branch opened in Huron, and the bank officially became American Bank & Trust. The years that followed included mergers with People’s State Bank in De Smet and American State Bank in Pierre, expanding the bank’s footprint across eastern South Dakota.

American Bank & Trust’s presence continued to grow into Sioux Falls, Watertown, Aberdeen, Worthington, and beyond. A significant milestone came in July 2023, when American Bank & Trust merged with Valley Exchange Bank, adding branch locations in Tea and Lennox. In 2024, the bank expanded into North Dakota with the opening of a new location in Lisbon.

As of January 2025, American Bank & Trust surpassed $1.9 billion in assets. In May 2025, the bank reaffirmed its commitment to the Tea community by relocating into a new, modern facility, followed by the opening of its 20th branch on the west side of Sioux Falls in June 2025.

Today, American Bank & Trust remains a family-owned, community-driven institution operating 20 locations across South Dakota, Minnesota, and North Dakota, supported by more than 200 employees.

The acquisition of the Lennox location has proven to be a valuable asset to the community. Residents now have access to a broader range of financial products and services while continuing to receive the hometown customer service they value. The Lennox facility is currently undergoing upgrades to ensure it remains a welcoming and modern presence on Main Street for years to come.

American Bank & Trust offers a full suite of services, including personal banking, mortgage lending, business and agricultural banking, treasury services, and trust and wealth management.

The Lennox branch team includes Bill Kuhl, Market President; Rob Goetz, Business and Ag Banker; Jasmine Loos, Personal Banker; and Universal Bankers Vera Haan, Kathy Fischer, and Ty VanHull. Together, the team works closely with customers to help them reach their financial goals.

Among the bank’s most popular offerings are certificates of deposit, instant-issue debit cards, and business and agricultural loans.

Looking ahead, American Bank & Trust’s vision is to remain a strong, well-managed, growing, and innovative community bank with high integrity and an excellent reputation—one that provides opportunities, makes an impact, and serves as a place where people can work, grow, and make a difference.

“Our favorite part about being part of the Lennox community is the opportunity to build relationships and help our customers meet their financial goals,” bank representatives shared.

American Bank & Trust is currently undergoing an extensive interior remodel of its Lennox branch to modernize the space for better customer experience, with construction underway as of late 2025 and expecting completion by early spring 2026. During the remodel customers are asked to use back entrance, parking is available. The ATM & Night Drop have been relocated to the back entrance. Regular business hours will continue as usual. Those interested in learning more can visit abt.bank or contact the Lennox branch directly at (605) 647-2261.