"Your money's in Joe's house … right next to yours. And in the Kennedy house, and Mrs. Macklin's house, and a hundred others."
– It's a Wonderful Life
First Western Bank & Trust occupies a rare middle ground in the banking world. It is a well-established institution, which since its foundation in 1964 has opened 16 branches throughout North Dakota, South Dakota and Minnesota – including our very own in Eden Prairie. But despite having all the patents of a national chain, First Western remains a community bank at heart. The team behind each branch knows their success is inseparable from that of the people they serve.
First Western possesses all the same technology and offers all the same financial products as any massive banking institution, yet their bankers are able to view their clients as people instead of as data. Rather than ensure every borrower fits neatly within an impersonal algorithm, a First Western lender can really get to know their client, perceive their character, and tailor a bespoke solution to their unique financial needs.
“While we may have become a larger institution in recent decades, First Western has stayed dedicated to serving each community we’re honored to be a part of,” said Peter Haugen, universal banking manager and consumer lender for First Western’s Eden Prairie branch. “By preserving our small bank mentality, we’re able to make fast yet informed decisions when it comes to lending money. Although we must decline to lend on certain occasions, we never arrive at that conclusion without first studying just how we could get our client from point A to point B – and whether doing so would have a marked positive impact on Eden Prairie as a whole.
“I just recently worked with a client who wished to purchase an apartment in a senior living community. By carefully considering her credit and personal assets, we were able to create a loan that carried considerably lower out-of-pocket costs than any standard bridge loan would have. We also created her loan very quickly, as we understood she needed to begin receiving professional care as soon as possible.
“That’s just one example of how we help our clients navigate the loan process, but I believe it perfectly illustrates the win-win solution we always strive for.”
“No two days at our bank are ever alike,” said Christian Lizaola, business banking officer for First Western’s Eden Prairie branch. “On some days I help seasoned real estate investors acquire additional properties. On others I partner directly with the Eden Prairie Chamber of Commerce and their members to help expand our local economy through commercial lending. Our work has proven especially valuable to local businesses that are still dealing with the ramifications of the pandemic. There are no one-size-fits-all solutions to the hurdles these businesses face. It is only through individualized lending that we can see them through their challenges.
“The value of our personal approach is exemplified by the work I just did with a local hardscaping company. Naturally, spring and summer are the best seasons for a business which builds retaining walls and lays pavers. I took that into account while structuring that business’s contract, which means the owner can now pay off their loan during their busiest months and not incur penalties when the weather makes hardscaping impossible. Including that single, extra detail may sound intuitive enough, but it’s exactly the sort of detail a massive financial institution would have missed by adhering so strictly to its cookie-cutter lending process.
“Many of our clients are relatively new to their respective businesses, but we endeavor to assist them all the same. I recently helped a novice real estate investor buy his first duplex. He already had all the equity he needed to make the purchase, but was uncertain of which property would provide the best return on investment. I referred him to a veteran property investor in our area, who helped him make sense of the science behind cash flow and identify the ideal property to put that theory into practice. I even attended the closing at his side – a moment I was honored to share. He’s now poised to enjoy great success while simultaneously offering good homes to renters in Eden Prairie.”
“Improving our community isn’t limited to lending to businesses and homebuyers,” added Peter. “Our line of consumer financial products also includes vehicle loans, RV loans and boat loans. Cars and trucks are usually necessities, of course, but even the things which people enjoy during their days off ultimately contribute to a stronger community. People are happier when they look forward to camping and fishing during the weekends – and happiness benefits a community immeasurably!”
Settle for no less than a true community bank’s service. If you have any need for First Western Bank & Trust’s industry-leading expertise on all financial matters, then you are welcome to meet with their team in person at 100 Prairie Center Drive in Eden Prairie. You may also speak with the bankers by calling (952) 516-7300, or learn more online by visiting firstwestern.bank.
