The American Bank & Trust of Wessington Springs, Miller, Wolsey, Alpena, Mellette and Huron was originally the Bank of Alpena and was started in 1886 when H. S. Royer operated a bank from behind a curtain in the back of his drug store.

In 1888, L. N. Loomis opened the Bank of Alpena and operated it as a private institution until 1892, when he was joined by D. C. Wallace and H. S. Royer.  They incorporated and were chartered on January 9, 1892, with $6,000 in capital stock being issued.  L. N. Loomis was listed as president and H. S. Royer as cashier.  The bank was located in the small building just west of the Odd Fellows Hall and remained there until 1902, at which time a new building was built on the corner across the street east of the Odd Fellows Hall.  At that time, $6,000 additional capital stock was issued and a change of management took place, with O. L. Brauson being appointed president and D. C. Wallace as cashier.

In 1920, 130 shares of stock were issued to bring the capital stock up to $25,000.   1926 brought about a sad turn of events and in an effort to avoid serious disaster, the stockholders voted to voluntarily close the bank on November 21, 1926.

Reorganization was achieved February 14, 1927, with 230 shares of stock issued and the bank reopened with J. E. Schull as president and K. T. Aisenbrey as cashier.  In 1929, 20 additional shares of stock were issued to make capital stock of $25,000.  In 1933, Robert S. Cook was elected president and 1941 brought about a change in management as Howard H. Peters took over the duties as cashier.  But the year 1943 found Peters taking leave to fulfill his military obligation in the U. S. Army.  Mark Atwood took over the duties until 1946, when after being discharged from the armed forces, Peters again assumed the position of cashier, with Charles Brammer becoming president.  In 1952, Peters was elected to the presidency and Roger Aye, who had been serving as assistant cashier, became cashier.

Construction of a new building was started that year and in the spring of 1953, the bank moved to its new home one door east of the old bank.  In 1962, a new building was built again and a branch bank was established at Wolsey, with the capital of the bank increased to $50,000.  In 1964, the parent bank was moved to Wessington Springs, with a branch bank remaining at Alpena, making a total of three locations.  The name of the bank was changed at that time, also, becoming American State Bank.  The capital stock was increased to $150,000.

In 1972, Peters sold the bank to Leland Steele and his son Jack Steele, both of Huron.   The Steeles are the current owners and operators of the bank.

Then in 1986, the First Bank Branch in Wessington Springs was purchased and added to the operation. In 1993 Farmers State Bank in Mellette was purchased and became the fourth location of American State Bank.  A new bank building was erected across the street from the old building in Mellette and opened for business in April 1998.

The Hand County State Bank of Miller was purchased and added to the operation June 1, 2000.  Construction of a new bank building in Wessington Springs was completed in 2000.  A new branch was opened in Huron April 1, 2002 and the bank's name was changed to American Bank & Trust.

In July 2006 American Bank & Trust opened their 7th branch location at the Huron Wal-Mart. An expansion project to the Huron Branch was also underway in 2006 and was completed in May 2007.  At this time American Trust Insurance was opened in the existing bank building and the bank was moved into the new addition.

In October 2011 Peoples State Bank in De Smet merges with American Bank & Trust, becoming the 8th location.

American Bank & Trust currently has 90 employees in 8 branch locations in 7 communities including Wessington Springs, Alpena, Mellette, Miller, Wolsey, Huron and De Smet with assets of over $350 million.

The American Bank & Trust is a home owned and home managed bank that has been serving this area since the early 1900's.  We strive to be big enough to meet and serve all of our customers financial needs and make available to the customer all of the financial products they need in today's fast paced world.  We are a service oriented organization.

We will be fair and competitive in charging the customer for the financial products that we offer and the financial products they choose to use.

The bank has to be profitable and maintain strong capital in order to continue to serve our customers and their needs and in order to meet the goals of the bank stockholders.

It is the banks ownership and management desire to be recognized as having an honest, competent, professional and friendly bank staff.  We believe our employees should be involved in the community and we endeavor to provide them with a comfortable working environment and a good standard of living.

	December 31, 2010	December 31, 2009	December 31, 2008
ASSETS
Cash & Due From Banks	$13,475,000	$8,231,000	$8,163,000
Bonds & Securities	39,017,000	32,825,000	36,329,000
Fed Funds	8,877,000	99,000	24,000
Loans and Leases (Net)	205,088,000	205,809,000	190,827,000
Banking Houses & Fixtures	5,710,000	5,664,000	5,732,000
Other Assets	15,147,000	14,597,000	10,442,000
TOTAL ASSETS	$287,314,000	$267,225,000	$251,517,000
LIABILITIES
Deposits	$231,922,000	$202,199,000	$197,646,000
Fed Funds	3,702,000	8,124,000	260,000
Other Borrowed Money	18,500,000	26,100,000	19,000,000
Other Liabilities	2,500,000	2,150,000	8,159,000
TOTAL LIABILITIES	$256,624,000	$238,573,000	$225,065,000
EQUITY CAPITAL
Capital Stock	$150,000	$150,000	$150,000
Surplus	10,200,000	10,200,000	10,200,000
Undivided Profits	20,340,000	18,302,000	16,102,000
TOTAL EQUITY CAPITAL	$30,690,000	$28,652,000	$26,452,000
LIABILITIES AND CAPITAL	$287,314,000	$267,225,000	$251,517,000