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American Bancor, Ltd.
American Bancor, Ltd. a North Dakota bank holding company, located at 46 – 1st Street West in Dickinson, is a banking organization that includes three North Dakota-chartered banks and four financial service subsidiary companies. The financial services partners of American Bancor, Ltd. provide banking, investments, trust, and insurance.
American Bancor, Ltd. provides support services in the following areas for all of its business partners:
- Administrative
- Human Resources
- Audit/Compliance
- Finance
- Information Systems
- Three independent North Dakota banks: American Bank Center, with offices in Dickinson, Killdeer, Minot and New England; American Bank Center; Bismarck, and Scandia American Bank, Stanley
- American Trust Center located in Bismarck, Dickinson and Minot.
- American Insurance Center located in Bismarck, Dickinson, Jamestown, Minot, Stanley, ND and Lemmon, SD
American Bancor, Ltd. was formed November 15, 1976. Various mergers and name changes over the years progressed to the current banking organization providing administrative services for six independent companies. Its main assets were American State Bank of Dickinson and Citizens State Bank of New England. In 1984, American Bancor, Ltd. (known then as United Bancor) included the assets of American State Bank of Dickinson, Bank of Killdeer, and Citizens State Bank in New England. The American State Bank was granted trust powers in 1983 and changed its name to American State Bank and Trust of Dickinson. The banks of Killdeer and New England merged with American State Bank and Trust of Dickinson in 1988. By this time, the holding company consisted of one bank with three locations and a trust department.
Bismarck BancShares (parent company of Bank Center First) of Bismarck merged with American Bancor, Ltd. January 7, 2002 .
As of December 31, 2007, American Bancor, Ltd. owns three independent banks with footings of over $540 million, a trust company managing $350 million in assets, and an insurance agency offering commercial, personal, life and farm/ranch lines.
In February 2006, United Bancor, Ltd. changed its name to American Bancor, Ltd. to present a common theme and identity for its family of companies.
Three Independent North Dakota-based Banks
American Bank Center – Bismarck location
American Bank Center in Bismarck opened its first office at 1101 East Interstate Avenue in December of 1977, known then as Bismarck State Bank. In order to provide services to the growing area of Bismarck, and the city center, their offices expanded to Downtown Bismarck. On December 6, 1991, Bismarck State Bank announced its name change to Bank Center One. The location at 1101 East Interstate Avenue became known as the North Location and functions today as a full-service banking location as well as a branch of American Insurance Center. In July 1993, Bank Center One officially changed to Bank Center First. In July 1994, American Bank Center opened Bismarck’s first supermarket bank located at Central Market. In May 1998, the Washington Center Office was opened at 325 West Arbor Avenue and became American Bank Center’s fourth location in Bismarck.
On January 7, 2002, Bismarck BancShares, the Holding Company of Bank Center First, merged with American Bancor LTD Holding Company of Dickinson, ND.
On September 1, 2006, Bank Center First changed its name to American Bank Center.
Investment Centers of America, The Planning Team, is located at the downtown location of American Bank Center and has been an integral partner for investment and financial planning services since 1985.
American Trust Center (owned equally by American Bank Center in Dickinson and American Bank Center in Bismarck) has offices in American Bank Center downtown location in Bismarck. Trust Services enhance the customer service opportunity for Individual Retirement Accounts (IRA’s), Foundations, Employer Sponsored Retirement and 401(k) Plans.
American Bank Center – Dickinson location
American Bank Center has always been a locally owned bank tracing its history back to the Citizen State Bank of New England, chartered in 1909. The Citizen State Bank of New England was the flagship bank of the American State Bank of Dickinson, incorporated in 1963. The Bank of Killdeer was acquired in 1977. The charters of these three banks were merged in 1987 as American State Bank & Trust of Dickinson with offices in New England and Killdeer. Today the main office is located in downtown Dickinson. Other offices are located in north Dickinson, Killdeer, Minot and New England. American State Bank & Trust of Dickinson officially changed its name to American Bank Center effective September 1, 2006.
In addition to offering retail, commercial, and mortgage banking services, American Bank Center currently has three subsidiaries. American Ag Center offers agriculture financing to farmers and ranchers in the trade area. American Insurance Center provides a full line of personal and business insurance products. American Trust Center offers a full array of trust products and services.
American Investments began at American Bank Center in 2001 offering full-service brokerage services. Brokerage services are provided through PRIMEVEST, a member of the ING Advisors Network, a subsidiary of ING, a leader in the financial services industry.
American Trust Center (owned equally by American Bank Center in Dickinson and American Bank Center in Bismarck) has offices in American Bank Center north location in Dickinson. Trust Services enhance the customer service opportunity for Individual Retirement Accounts (IRA’s), Foundations, Employer Sponsored Retirement and 401(k) Plans.
Scandia American Bank & Trust – Stanley
The Scandia American Bank was chartered in March 1910 as one of the first banks in Mountrail County. In 1933 the bank moved from Palermo to Stanley which had been without a bank for some time. This proved to be a turning point in the bank’s operations as it was the only bank out of 40 some chartered in Mountrail County that survived the twenties and depression without merging or closing. A new bank building was constructed in 1960 and again in 1981 where they remain today. The Scandia American Bank & Trust is slated to celebrate their 100th Anniversary in 2010.
Scandia American Bank & Trust was purchased by American Bancor, Ltd. in January, 2005.
SERVICE PARTNERS
Trust powers were granted in July 1983 as a trust department of American State Bank & Trust of Dickinson.
On August 1, 2002 Trust Center of America was purchased by American State Bank and Trust and Bank Center First and changed its name to American Trust Center in 2003. It has locations in Dickinson and Bismarck.
Today, its product line includes employee benefit plans, personal trust administration and investment management services.
Trust services are all about planning for the future, and it should not be left to just anyone. The talented and competent professionals at American Trust Center can help you prioritize your needs, and will work with you on a plan that protects you and your loved ones. Whether your needs lie in retirement planning, estate planning, personal trust planning, or investing, we can help
Serving customers since the 1960’s, American Insurance Center’s roots include mergers with The Wald Agency, Prairie Insurance, First Insurance Agency, King Insurance Agency, and Prairie Dakota Insurance throughout North Dakota. The agency has grown to include the communities of Dickinson (home office), Bismarck, Jamestown, Minot, Stanley and Lemmon, SD. AIC writes business in four states through more than 40 companies and has 38 employees.
AIC has been recognized for superior professionalism and profitability and a “best of the best” agency…….Farmers Alliance Companies.
AIC is also considered a Best Practice Agency recognized by Independent Insurance Agents & Brokers of America (IIABA) and among only 180 agencies in the nation based on financial and operational data that is scored and ranked objectively.
In 1998, The Wald Agency was purchased by American State Bank and Trust and changed its name to American Insurance Center. American Insurance Center has since purchased agencies in Bismarck, Jamestown, Minot and Stanley, ND. In early 2006, an office was opened in Lemmon, SD.
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