Heritage Bank NA has changed the name of its downtown Sioux Falls location to Physician Bank.
The move establishes the office at 140 N. Phillips Ave. as the headquarters of the national banking division dedicated exclusively to physicians and medical professionals.
“More than a name change, the transition marks the selection of Sioux Falls as the operational home of a physician-focused banking organization serving medical professionals across the country,” the organization said in a statement.
As part of the rebrand, the building formerly known as Equity Square will be renamed the Physician Bank Building, and new Physician Bank branding and signage have been installed at the location.
“When we evaluated where Physician Bank should establish its headquarters, Sioux Falls stood out immediately,” said Bob Mathiasen, CEO of Heritage Bank NA.
“The city’s entrepreneurial spirit, strong healthcare community and business-friendly environment made it a natural choice. Establishing Physician Bank’s headquarters here allows us to invest in Sioux Falls while creating a strong foundation for continued national growth.”
Physician Bank provides specialized banking, lending and private banking solutions “tailored to the unique needs of medical professionals,” the bank said.
“While some financial institutions offer physician-focused programs, Physician Bank was built exclusively for physicians and medical professionals. Its team understands the financial realities physicians face and provides specialized banking solutions tailored to the needs of the medical profession, including access to private banking support for all Physician Bank customers without a minimum balance requirement.”
The bank is designed to offer physician-focused mortgage and doctor loan programs, private banking services and deposit solutions at all stages of a medical career.
“Physicians often reach major life and career milestones on a different timeline than many other professionals,” said Marie Griffin, a private banker at Physician Bank. “Years of training, frequent relocations and specialized financing needs can create challenges that aren’t always addressed by traditional banking products. That’s why Physician Bank focuses exclusively on serving physicians and medical professionals.”
While Physician Bank serves customers nationwide through a digital-first model, physicians in the Sioux Falls region can meet with banking professionals by appointment at the downtown location, which will operate as a by-appointment-only office focused on relationship banking and customer support.
Heritage Bank customers will continue to have access to their accounts through digital and mobile banking, along with appointments for account support and banking and lending conversations.
In addition to Sioux Falls, Heritage Bank has locations in Spicer, Willmar, Pennock and Raymond, Minnesota.
