On Friday, July 17, 2009, BankFirst, Sioux Falls, SD was closed by the South Dakota Division of Banking. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

All deposit accounts have been transferred to Alerus Financial, National Association, Grand Forks, ND.  The branch in Minnesota will reopen as a branch of Alerus Financial, National Association and the branch in South Dakota will reopen as a branch of First Dakota National Bank. For more information visit FDIC Bank Closing Information for BankFirst.