First Bank & Trust: SBA business acquisition lending record
First Bank & Trust (home state SD) approved 40 SBA 7(a) loans to buy existing businesses since FY2018, totaling $35.7M. The median loan was $642,100. It ranks number 203 of 280 lenders by count and made 0.1% of all SBA acquisition loans nationally.
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What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $338,650 and $1,027,500. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. South Dakota is the largest state (60% of loans). Loans appear in only 3 states, which points to a regional lender.
- Industry concentration. Limited-Service Restaurants is 13% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 198 SBA 7(a) loans of any purpose since FY2020, totaling $159M. 70% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 13% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Too few of its loans are old enough to measure a charge-off rate.
First Bank & Trust acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 1 | $1.1M | $1,110,000 | |
| FY2019 | 0 | $0 | - | |
| FY2020 | 3 | $3.3M | $707,100 | |
| FY2021 | 0 | $0 | - | |
| FY2022 | 8 | $5.9M | $494,350 | |
| FY2023 | 8 | $8.4M | $655,900 | |
| FY2024 | 8 | $3.6M | $381,850 | |
| FY2025 | 6 | $6.1M | $841,050 | |
| FY2026 | 6 | $7.4M | $756,400 |
How often do these acquisition loans fail?
Fewer than 20 First Bank & Trust acquisition loans are old enough to measure losses reliably, so no charge-off rate is shown. The benchmark across all SBA acquisition loans in the FY2018 to FY2021 cohort is 3.5% by count. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
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States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | South Dakota | 24 | 60.0% | $26.4M | |
| 2 | Minnesota | 14 | 35.0% | $8.5M | |
| 3 | Nebraska | 2 | 5.0% | $907K |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Limited-Service Restaurants | 5 | 12.5% | $3.5M | |
| 2 | Beer, Wine, and Liquor Retailers | 3 | 7.5% | $3.3M | |
| 3 | Coin-Operated Laundries and Drycleaners | 2 | 5.0% | $1.4M | |
| 4 | Other Building Material Dealers | 2 | 5.0% | $966K | |
| 5 | Hardware Retailers | 2 | 5.0% | $884K | |
| 6 | Home Centers | 1 | 2.5% | $3.8M | |
| 7 | Gasoline Stations with Convenience Stores | 1 | 2.5% | $3.4M | |
| 8 | All Other Miscellaneous Waste Management Services | 1 | 2.5% | $2.9M | |
| 9 | Boat Dealers | 1 | 2.5% | $2.1M | |
| 10 | Drycleaning and Laundry Services (except Coin-Operated) | 1 | 2.5% | $1.8M |
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Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Subway | 3 | 7.5% | $3.1M | |
| 2 | The UPS Store | 1 | 2.5% | $640K | |
| 3 | Ace Hardware | 1 | 2.5% | $100K |
Questions buyers ask
Does First Bank & Trust make SBA acquisition loans?
Yes. First Bank & Trust approved 40 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 203 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are First Bank & Trust's acquisition loans?
The median was $642,100, with the middle half between $338,650 and $1,027,500. The national median is $645,250, so this lender's typical loan is in line with the national figure.
Which states does First Bank & Trust lend in?
South Dakota (24), Minnesota (14), Nebraska (2). Its loans appear in 3 states, so it is closer to a regional lender.
Which industries does First Bank & Trust finance?
Limited-Service Restaurants (5), Beer, Wine, and Liquor Retailers (3), Coin-Operated Laundries and Drycleaners (2), Other Building Material Dealers (2), Hardware Retailers (2). The top industry is 13% of its acquisition loans.
How have First Bank & Trust's acquisition loans performed?
Fewer than 20 of this lender's loans are old enough to measure. The national benchmark is 3.5% for the FY2018 to FY2021 cohort.
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Related
- South Dakota acquisitions
- Minnesota acquisitions
- Nebraska acquisitions
- Limited-Service Restaurants
- Beer, Wine, and Liquor Retailers
- Coin-Operated Laundries and Drycleaners
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First Bank & Trust.