Paul and Muffy Christen built a banking empire. On Thursday, the Huron couple announced a gift of $20 million through their estate to the foundation they helped to start. The gift was announced at a Rapid City news conference by South Dakota Foundation President Bob Sutton. The contribution will establish the Paul and Muffy Christen Legacy Fund, a permanent endowment fund within the South Dakota Community Foundation. The endowment gift will generate $562,500-dollars annually to be distributed for charitable and nonprofit causes across South Dakota. Over time, this distribution amount will grow even larger. More than $100,000 of these earnings will be used annually to challenge communities to build endowments locally, something the Christens have already done in several South Dakota communities such as Belle Fourche, Custer, Hot Springs, Huron, Sturgis and Wall. Paul Christen was president and CEO of First Western Bankcorp. The Christens sold their banking interests in 2008. In 2010, they sold their insurance agencies, all located in 11 western South Dakota communities.phil
(courtesy KOTA Rapid City)