First Bank & Trust Gives $100,000 to DSU Capital Campaign
First Bank & Trust in Madison, SD has donated $100,000 to DSU 2.0, Dakota State University's capital campaign. The campaign, the first in Dakota State's history, includes fundraising components for scholarships and facilities.
First Bank & Trust Community Bank President Jon Knuths, says the Madison bank sees their gift as an investment in the community. "I am proud of First Bank & Trust's participation in supporting Dakota State University. It is an example of the priority the bank places in maintaining vital interests in the community where we do business."
A recent study found Dakota State provides an annual $52.9 million economic boost to the local area through construction activity, purchases of goods and services, visitor and student spending and other financial contributions. The university is also Madison's largest employer.
"The economic impact report helps quantify the university's economic impact on Madison and the neighboring communities," says DSU President Dr. Doug Knowlton. "We appreciate the partnership we have developed with First Bank & Trust and their recognition that investments in Dakota State University deliver powerful and productive returns to the community and the state."
The gift from First Bank & Trust will be used to enhance the fundraising efforts involved in the capital campaign. "It is an old adage, but true," says DSU Vice President for University Advancement Judy Payne. "It takes money to raise money, and we certainly appreciate First Bank & Trust's recognition of that fact, and their willingness to make this type of commitment to DSU."
First Bank & Trust originated in Madison in 1883, just two years after the founding of Dakota State. The two entities have gone through name changes and in the case of the bank, changed ownership, but have continued to grow side by side and become anchors in the community. "First Bank & Trust has been generous to DSU over the years," says Payne. "Their latest gift is an investment in the future of one of the region's top universities. It also underscores the enormous importance of gifts this university receives from businesses and individuals in the Madison area. Local support is what is going to make this capital campaign a success and we are deeply appreciative."
In recognition of First Bank & Trust's generous support of the capital campaign and their commitment to the arts, the gallery in the Karl Mundt Library on the DSU campus will be named the First Bank & Trust Gallery.
Dakota State's $37 million campaign has raised $6.3 million to date.
Pictured are capital campaign director Tracy Pardy, Jon Knuths, and Judy Payne.