Boyd D Hopkins celebrates 50-years at CorTrust Bank. He joined the Bank in 1972, alongside his father Boyd Hopkins Sr, who purchased controlling interest of the Bank in 1961. At that time there were two locations and $4.5 million in assets. Under Boyd’s leadership as President from 1981 thru 2004, and as the current Chairman of the Board of Directors, CorTrust Bank has continued to prosper. Today, CorTrust Bank has 37 locations and $1.6 billion in assets, and serves communities in eastern South Dakota and Minnesota.
When Boyd joined the Bank 50 years ago, there were no plans to grow through acquisition. However, Boyd’s foresight helped CorTrust capitalize on opportunities where they could be found. As the Bank grew, the decision was made to move the charter from Artesian, SD, to Mitchell, SD, in 1977. While this move to a larger community seemed daunting, it launched the Bank’s momentum in southeastern South Dakota.
CorTrust continued growing, acquiring banks in southeastern and northeastern South Dakota, as well as branching into Sioux Falls, SD, in 1993. As part of the Bank’s strategy, combined with the move into a more diversified market, the Bank’s name changed from Livestock State Bank to CorTrust Bank. By 2004, Boyd took the Bank from two locations to 19, and transitioned into his current role as Chairman of the Board of Directors. That same year, Jack E Hopkins, Boyd’s son and the third generation of Hopkins in the family business, took over as President and CEO. Boyd’s son Todd Hopkins joined the business in 2008, and currently is the President of CorTrust Mortgage and sits on the Board of Directors.
In 2009, CorTrust began expanding into the Minnesota market, acquiring its first branch in Woodbury. Today the Bank boasts 15 Minnesota branches and continues to seek opportunities in growing markets throughout Minnesota, South Dakota, or wherever an opportunity may arise. Boyd’s commitment and leadership have played a pivotal role in the Bank’s success.
Jack reflected on his father’s 50-year career at CorTrust stating, “Coming back to the family business in 1988, to work with both my father and grandfather has been a good experience. They were great mentors. I continue to rely on my father’s advice and guidance as he has basically “seen it all” during his career in banking.”
While Boyd helped shaped CorTrust’s success, he also pioneered a culture of giving back. CorTrust Bank is committed to supporting the towns and cities they serve. Always encouraging involvement in civic organizations, the Hopkins generously invest in the development and growth of employees, and the prosperity of communities throughout the Bank’s footprint.
As a family and employee-owned business, the Hopkins family has worked hard and is committed to remaining an independent business. This was solidified when the fourth generation Hopkins, McKinzie, joined the Bank in 2018. McKinzie is a Senior Vice President and manages the credit administration department in Minnesota.
About CorTrust Bank
Since 1930, CorTrust Bank has been serving the needs of individuals and businesses throughout 16 South Dakota communities, and 15 Minnesota communities, with 37 branch locations. What started as a small operation serving the needs of local farming families in Artesian, SD, has today grown into a fourth-generation family-owned community bank with $1.6 billion in assets, and $165 million in equity and reserves. CorTrust Bank – raise your expectations.