If you want to know what other CEOs will be doing in the years ahead, look at what Craig Larson is doing now. “He’s such a futuristic person; he thinks way ahead of the game, and he thinks things out really well,” said his wife, Shelley, who also serves on the board of directors for […]
Family bank takes progressive approach to succession, governance Read More »
A bank doesn’t reach 136 years old without learning to evolve, transition and plan for the future. So it’s probably not surprising that the Baker family of The First National Bank in Sioux Falls became early members of the state’s first and only association dedicated specifically to supporting family businesses. “From very early in our
They’ve been there, done that, and now are sharing their experiences. Three family businesses will share strategies and pitfalls around succession planning at an upcoming webinar through the Prairie Family Business Association. It will be held Jan. 7 at 10 a.m. CST and be presented by: Dave and Jan Johnson, second-generation owners of Reliabank, which
3 family businesses to offer inside look at succession planning do’s and don’ts Read More »
The way Dave and Ryan Austad see it, the game of golf has stuck. “In 2020, everyone golfed because it was safe. After a dicey March, April and May, the sport just saw an explosion,” Ryan Austad said. “But you have to golf with someone. So, generally, people invited friends. And in 2021, we started
This year has brought changes in tax laws, which are resulting in higher taxes in many instances. Estate planning and business succession attorney Andrew J. Knutson of Thompson Law and Adam Sweet, who leads Eide Bailly’s Passthrough Entity Consulting Group, will present their knowledge and insights of current tax law changes at a Nov. 17
Plan now for tax time, 2022 Read More »
At an age when most people would be retiring, W. Fredrick and Ferne Edney became business owners. It was 1951, and Fredrick had spent a career bringing wind power to rural homes that previously didn’t have electricity. By late in his career, he had a choice – transfer to South Dakota or Texas – which
*Part three of a series of stories about Prairie Family Business Association founding members in celebration of our 30th anniversary. If you’re going to work in the water tower business, it helps to appreciate the world from 150 feet up. Parker Jones saw that view for the first time recently, after becoming the third generation
Freeman, South Dakota – population approximately 1,500 – isn’t the sort of place you might expect to discover a growing oil company. “There were other people that said the same thing,” laughed Scott Stern, who became CEO in 2018. “My father was pretty tenacious. We were tenacious. If you take care of the customer, the
More than half of U.S. gross domestic product and domestic employment is generated by family firms, according to Family Enterprise USA. Nearly eight in 10 new jobs come from family-owned businesses. More than one-third of Fortune 500 companies are family-owned or controlled. And family firms typically have higher employee retention rates than nonfamily firms. But
The first one in the door every morning at BankStar’s Elkton branch is 96-year-old Jack Hegerfeld. “He comes in about 6:30 a.m., opens up the door and prepares the bank for the day,” said Jack’s son, Chuck. Then, it’s time for coffee to catch up with the locals, and after that it’s back to the
Generations of entrepreneurs celebrate 95 years in family banking Read More »