Reliabank Featured in Forbes & Fortune Magazines
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Forbes & Fortune
Founded on September 1, 1920, Reliabank traces its roots to a single charter in the small South Dakota town of South Shore. Over the decades, that original community bank has grown into a 10-location institution serving the I-29 corridor, but its ownership and purpose have remained firmly local.
“We believe community banking only works when you’re willing to stay close enough to be accountable,” says Joshua Hogue, president and CEO. “We’re not just providing financial products. We’re investing in the people and places that make this region thrive.”
In an era where distant shareholders own many financial institutions, Reliabank’s advantage lies in its family ownership and its leadership structure. The Johnson family has owned the bank since 1967—when Walter K. Johnson acquired it—and that continuity continues today. When Walter died in 1976, his son David became CEO. When David and his wife, Jan, purchased the bank, they structured stock to include their sons, Reid and Ethan, who represent the next generation of family ownership.
Reid leads marketing, culture, and community engagement while Ethan oversees treasury and financial operations. Meanwhile, day-to-day leadership is shared with long-tenured executives, including Hogue, whose father was also a career banker. Together, that structure balances continuity with stewardship, allowing long-term commitment, rather than short-term pressure, to guide decisions.
“We’re family in every sense,” says Reid. “We grew up around this business.” That familiarity helps people “build careers and have a bank that understands both their business and their community,” emphasizes Hogue. Decisions for farmers and small businesses who face volatility or need flexibility are made locally, rather than routed through distant committees. Customers work with people who understand both the numbers and the circumstances.
Reliabank’s leadership continuity is unusual. David Johnson recently retired, marking the first transition in half a century. Jan, who has 33 years of bank board experience, became board chair, while Hogue was named CEO.
“What matters most is that we remain dependable,” Johnson says of the decision. “Josh (Hogue) understands who we are, what we stand for, and why community comes before everything else.”
Believing in the region’s vitality extends beyond banking. Team members are encouraged to take time off to volunteer, serve on boards, work at sponsored events, and participate in hands-on efforts such as Sleep in
Heavenly Peace, where employees help build beds for children in need. It’s another example of how the bank’s presence shows up not just in transactions but in everyday life across the communities it serves.
Looking ahead, leadership views stability and transparency as an advantage. With Reid and Ethan involved in ownership and leadership, the bank is well positioned at a time when many peers are worried about succession.
“A lot of banks are asking who comes next,” says Reid. “Our goals are to retain family ownership, expand our footprint thoughtfully, and continue serving the markets we’re already part of.”