American State Bank Announces New Ownership

American State Bank

 

(From American State Bank) American State Bank of Pierre is officially under new ownership of Leackco Bank Holding Company as of today.
Jack Steele of Leackco Bank Holding Company stated, “Our family has been banking in South Dakota for nearly 70 years stretching over three generations. American State Bank has a great reputation as a strong community bank, and we intend to protect and build on that reputation.”
Since 1977, American State Bank has served Pierre and the surrounding communities.
American State Bank has $145 million in assets and 25 employees. Leackco is the principal owner of American Bank & Trust with $375 million in assets, 85 employees and offices in Alpena, De Smet, Huron, Mellette, Miller, Wolsey, and Wessington Springs (which is the corporate headquarters). With this acquisition, Leackco’s combined assets exceed $520 million.
American State Bank will continue to operate under its existing charter. Robert Clair has been named President & CEO of American State Bank.


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