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First Savings Bank seeks to acquire Roberts County National Bank of Sisseton

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First Savings Bank seeks to acquire Roberts County National Bank of Sisseton

Beresford, S.D.-based First Savings Bank, a unit of Beresford Bancorp Inc., has applied to buy Sisseton, S.D.-based Roberts County National Bank of Sisseton, according to the Office of the Comptroller of the Currency's website.

First Savings Bank had about $739.4 million in total assets as of June 30, and Roberts County National Bank of Sisseton had total assets of $54.5 million as of Sept. 30, according to S&P Global Market Intelligence data.

SNL valuations for bank and thrift targets in the Midwest region between Oct. 3, 2017, and Oct. 3, 2018, averaged 158.25% of book, 164.92% of tangible book and had a median of 20.57x last-12-months earnings, on an aggregate basis.

Beresford Bancorp will enter Roberts County, S.D., with one branch to be ranked third with a share of 15.90% of approximately $301.7 million in total market deposits.

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