Marcia Hultman

Cabinet Secretary

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Banking

Monthly Activity Reports - 2017

The South Dakota Division of Banking updates this report monthly to provide information on the applications filed with the South Dakota Division of Banking and/or State Banking Commission and action taken on each application. This information will be compiled and updated monthly, unless there is no activity within that month. This data is for information purposes only and does not constitute legal notice of an application.

November 2017
Banks
Great Western Bank, Sioux Falls, South Dakota – Application to establish a loan production office at 222 Third Ave. SE, Suite 299-5, Cedar Rapids, Iowa. Pending
First American State Bank, Oldham, South Dakota – Application to establish a branch bank at 3465 Avenue of the Cities, Moline, Illinois. Pending
Trusts
First Capital Surety & Trust Company – Application to establish a Trust Service Office at 4701 Cox Rd., Suite 285, Glen Allen, Virginia. Pending
SVA Plumb Trust Company – Application to establish a Trust Service Office at 1860 W. Corporate Dr., Suite 200, Brookfield, Wisconsin Approved 11/20/2017
Pando Trust Company – Application to establish a non-depository public trust company at 201 S. Phillips Ave., Suite 145, Sioux Falls, South Dakota Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in November
Money Lending  12
Money Transmitter 4
Mortgage Brokerage 0
Mortgage Lender  7
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 390
Licenses cancelled in November
Money Lending  5
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 2
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 17
Current number of active licenses November
Money Lending  409
Money Transmitter 95
Mortgage Brokerage 21
Mortgage Lender 261
NR Mortgage Lender for Insurance Company 38
Mortgage Loan Originator 3,744
Total 4,568
October 2017
Banks
First Bank & Trust, Brookings, South Dakota – Application to merge People's Bank of Commerce, Cambridge, Minnesota, and State Bank of New Prague, New Prague, Minnesota, with and into First Bank & Trust, Brookings, South Dakota. Approved 10/18/2017
Premier Bank, Rock Valley, Iowa – Application to merge State Bank of Alcester, Alcester, South Dakota, with and into Premier Bank, Rock Valley, Iowa. Approved 10/11/2017
Great Western Bank, Sioux Falls, South Dakota – Application to establish a loan production office at 222 Third Ave. SE, Suite 299-5, Cedar Rapids, Iowa. Pending
Trusts
Life Insurance Trust Company, LLC – Application to establish a nondepository trust company at 101 South Reid, Suite 307, Sioux Falls, South Dakota. Approved 10/30/2017
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Rd., Suite 285, Glen Allen, Virginia. Pending
SVA Plumb Trust Company- Application to establish a Trust Service Office at 1860 W. Corporate Dr., Suite 200, Brookfield, Wisconsin.
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in October
Money Lending  2
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender  0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 100
Licenses cancelled in October
Money Lending  3
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 6
Current number of active licenses October
Money Lending  402
Money Transmitter 91
Mortgage Brokerage 21
Mortgage Lender 256
NR Mortgage Lender for Insurance Company 38
Mortgage Loan Originator 3,371
Total 4,179
September 2017
Banks
Dacotah Bank, Aberdeen, SD – Application to close two branches at 207 Main St., Cresbard and 24 Main Ave. S., Regent, SD. Approved 09/14/2017
Great Western Bank, Sioux Falls, SD – Application to close a branch at 10307 Metcalf Ave., Oakland, KS. Approved 09/27/2017
Great Western Bank, Sioux Falls, SD – Application to establish a branch bank at 8001 Metcalf Ave., Suite 100, Overland Park, KS. Approved 09/27/2017
Great Western Bank, Sioux Falls, SD – Application to close a branch at 401 Main St., Bedford, Iowa Approved 9/27/2017
First Bank & Trust, Brookings, SD – Application to merge People's Bank of Commerce, Cambridge, Minnesota and State Bank of New Prague, New Prague, MN, with and into First Bank & Trust, Brookings, SD. Pending
Premier Bank, Rock Valley, Iowa – Application to merge State Bank of Alcester, Alcester, SD with and into Premier Bank, Rock Valley, Iowa. Pending
Great Western Bank, Sioux Falls, SD – Application to establish a loan production office at 222 Third Ave. SE, Suite 299-5, Cedar Rapids, Iowa. Pending
Trusts
Amicorp Trustees (South Dakota), LLC – Application to establish a nondepository public trust company at 330 S. Poplar Ave., Pierre, SD. Approved 09/11/2017
New Vision Trust Company – Application to establish a nondepository public trust company at 401 Eighth Street, Suite 200R, Sioux Falls, SD. Approved 09/15/2017
Life Insurance Trust Company, LLC – Application to establish a nondepository trust company at 101 South Reid, Suite 307, Sioux Falls, SD. Pending
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA. Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in September
Money Lending  3
Money Transmitter 2
Mortgage Brokerage 2
Mortgage Lender  2
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 104
Licenses cancelled in September
Money Lending  5
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 1
Current number of active licenses September
Money Lending  402
Money Transmitter 91
Mortgage Brokerage 21
Mortgage Lender 258
NR Mortgage Lender for Insurance Company 38
Mortgage Loan Originator 3,278
Total 4,088
August 2017
Banks
Farmers State Bank, Marion, SD - Application to merge First State Bank, Hawarden, IA and Miner County Bank, Howard, SD with and into Farmers State Bank, Marion, SD and upon completion of foregoing mergers to change its name to Rivers Edge Bank, Marion, SD. Approved Aug. 14, 2017
First Bank & Trust, Brookings SD – Application to merge People's Bank of Commerce, Cambridge, Minnesota and State Bank of New Prague, New Prague, Minnesota with and into First Bank & Trust, Brookings, South Dakota. Pending
Premier Bank, Rock Valley, Iowa – Application to merge State Bank of Alcester, Alcester, SD with and into Premier Bank, Rock Valley, Iowa. Pending
Trusts
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA. Pending
Amicorp Trustees (South Dakota), LLC – Application to establish a nondepository public trust company at 330 S. Poplar Avenue, Pierre, SD. Pending
New Vision Trust Company – Application to establish a nondepository public trust company at 401 Eighth Street, Suite 200R, Sioux Falls SD. Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in August
Money Lending  3
Money Transmitter 2
Mortgage Brokerage 2
Mortgage Lender  1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 115
Licenses cancelled in August
Money Lending  0
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 1
Current number of active licenses August
Money Lending  404
Money Transmitter 89
Mortgage Brokerage 21
Mortgage Lender 257
NR Mortgage Lender for Insurance Company 38
Mortgage Loan Originator 3,175
Total 3,984
July 2017
Banks
Farmers State Bank, Marion, SD - Application to merge First State Bank, Hawarden, IA and Miner County Bank, Howard, SD with and into Farmers State Bank, Marion, SD and upon completetion of foregoing mergers to change its name to Rovers Edge Bank, Marion, SD. Pending
Trusts
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA. Pending
Kendris Trust Company – Application to establish a Trust Service Office at 1110 Brickell Avenue, Suite 603, Miami, FL Approved July 11, 2017
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in July
Money Lending  5
Money Transmitter 1
Mortgage Brokerage 2
Mortgage Lender  1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 110
Licenses cancelled in July 
Money Lending  1
Money Transmitter 0
Mortgage Brokerage 1
Mortgage Lender 0
Non-Residential Mortgage Lender 1
Mortgage Loan Originator 3
Current number of active licenses July
Money Lending  490
Money Transmitter 77
Mortgage Brokerage 17
Mortgage Lender 246
NR Mortgage Lender for Insurance Company 34
Mortgage Loan Originator 2,543
Total 3,407
June 2017
Banks
First State Bank of Warner, Warner, SD Application to change control of First State Bank Warner 2 W. Main St., Warner, SD. Approved June 13, 2017
Trusts
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA. Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in June
Money Lending  6
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender  1
Non-Residential Mortgage Lender 1
Mortgage Loan Originator 82
Licenses cancelled in June
Money Lending  9
Money Transmitter 0
Mortgage Brokerage 1
Mortgage Lender 2
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 6
Current number of active licenses in June
Money Lending  397
Money Transmitter 86
Mortgage Brokerage 18
Mortgage Lender 255
NR Mortgage Lender for Insurance Company 39
Mortgage Loan Originator 2,954
Total 3,749
May 2017
Banks
Security Savings Bank, Canton, SD Application to establish a branch bank at 2331 East 10th Street, Sioux Falls, SD.
Approved May 4, 2017
Great Western Bank, Watertown, SD Application to relocate main office to 225 S. Main Ave., Sioux Falls, SD. Approved May 31, 2017
First State Bank of Warner, Warner, SD Application to change control of First State Bank Warner 2 W. Main St., Warner, SD. Pending
Trusts
Generations Trust Company – Application to establish a nondepository private trust company at 300 N. Dakota Ave., Suite 305B, Sioux Falls, SD.
Approved May 31, 2017
NuView Trust Company - Application to establish a nondepository public trust company at 330 S. Poplar Avenue, Suite 103-M, Pierre, SD. Approved May 4, 2017
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA. Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in May
Money Lending  11
Money Transmitter 2
Mortgage Brokerage 1
Mortgage Lender  6
Non-Residential Mortgage Lender 2
Mortgage Loan Originator 102
Licenses cancelled in May
Money Lending  2
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender 2
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 4
Current number of active licenses May
Money Lending  399
Money Transmitter 86
Mortgage Brokerage 19
Mortgage Lender 256
NR Mortgage Lender for Insurance Company 38
Mortgage Loan Originator 2,881
Total 3,679
April 2017
Banks
Security State Bank, Tyndall, SD Application to establish a loan production office at 100 W. Blaine Avenue, Viborg, SD.
Approved
03/06/2017
American Bank & Trust, Wessington Springs, SD Application to close a branch bank at 6216 South Pinnacle Place, Sioux Falls, SD 57108 Approved
04/10/2017
Security Savings Bank, Canton, SD Application to establish a branch bank at 2331 East 10th Street, Sioux Falls, SD. Pending
Great Western Bank, Watertown, SD Application to relocate main office to 225 S. Main Ave., Sioux Falls, SD 57104. Pending
First State Bank of Warner, Warner, SD Application to change control of First State Bank Warner 2 W. Main St., Warner, SD 57479. Pending
Trusts
Pai Trust Company, Inc. - Application to establish a Trust Service Office at 1300 Enterprise Drive, De Pere, WI.
Approved
03/01/2017
Next Generation Trust Company – Application to establish a nondepository public trust company at 401 East 8th Street, Suite 200H, Sioux Falls, SD. Approved
03/07/2017
Bridgeford Trust Company - Application to establish a Trust Service Office at 101 South Reid Street, Suite 307, Sioux Falls, SD. Approved
04/13/2017
Cornerstone Private Asset Trust Company - Application to establish a Trust Service Office at 4470 W. 78th St. Circle, Suite 200, Bloomington, MN.
Approved
04/19/2017
International Chemical Overseas Trust Company – Application to establish a nondepository private trust company at 201 South Phillips Ave, Suite 144, Sioux Falls, SD
Approved
04/272017
NuView Trust Company - Application to establish a nondepository public trust company at 330 S. Poplar Avenue, Suite 103-M, Pierre, SD
Pending
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA.
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in April are as follows:
Money Lending  2
Money Transmitter 0
Mortgage Brokerage 1
Mortgage Lender  0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 168
Licenses cancelled in April are as follows: 
Money Lending  3
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 2
Current number of active licenses April
Money Lending  390
Money Transmitter 84
Mortgage Brokerage 18
Mortgage Lender 252
NR Mortgage Lender for Insurance Company 36
Mortgage Loan Originator 2,778
Total 3,558
March 2017
Banks
Security State Bank, Tyndall, SD Application to establish a loan production office at 100 W. Blaine Avenue, Viborg, SD.
Pending
Security Savings Bank, Canton, SD Application to establish a branch bank at 2331 East 10th Street, Sioux Falls, SD. Pending
Trusts
Next Generation Trust Company – Application to establish a nondepository public trust company at 401 East 8th Street, Suite 200H, Sioux Falls, SD. Pending
NuView Trust Company - Application to establish a nondepository public trust company at 330 S. Poplar Avenue, Suite 103-M, Pierre, SD
Pending
International Chemical Overseas Trust Company – Application to establish a nondepository private trust company at 201 South Phillips Ave, Suite 144, Sioux Falls, SD
Pending
Bridgeford Trust Company - Application to establish a Trust Service Office at 101 South Reid Street, Suite 307, Sioux Falls, SD. Pending
Cornerstone Private Asset Trust Company - Application to establish a Trust Service Office at 4470 W. 78th St. Circle, Suite 200, Bloomington, MN.
Pending
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA.
Pending
Pai Trust Company, Inc. - Application to establish a Trust Service Office at 1300 Enterprise Drive, De Pere, WI.
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in March are as follows:
Money Lending  7
Money Transmitter 3
Mortgage Brokerage 0
Mortgage Lender  3
Non-Residential Mortgage Lender 2
Mortgage Loan Originator 153
Licenses cancelled in March are as follows: 
Money Lending  2
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 4
Current number of active licenses March
Money Lending  391
Money Transmitter 84
Mortgage Brokerage 17
Mortgage Lender 252
NR Mortgage Lender for Insurance Company 36
Mortgage Loan Originator 2,612
Total 3,392
February 2017
Banks
Security State Bank, Tyndall, SD Application to establish a loan production office at 100 W. Blaine Avenue, Viborg, SD. Pending
Security Savings Bank, Canton, SD Application to establish a branch bank at 2331 East 10th Street, Sioux Falls, SD. Pending
Trusts
Midland Trust Company – Application to establish a nondepository public trust company at 101 South Reid Street, Suite 307, Office 351, Sioux Falls, SD. February 24, 2017
Approved
PenChecks Trust Company of America – Application for Change of Address from 401 East 8th Street, Suite 200L, Sioux Falls, SD to 2010 South Phillips Avenue Suite 204, Sioux Falls, SD. February 17, 2017
Approved
First Lawyers Trust Company LLC – Application to Change name from First Lawyers Trust Company LLC to First Trust Company, LLC. February 9, 2017
Approved
Bridgeford Trust Company - Application to establish a Trust Service Office at 101 South Reid Street, Suite 307, Sioux Falls, SD. Pending
Cornerstone Private Asset Trust Company - Application to establish a Trust Service Office at 4470 W. 78th St. Circle, Suite 200, Bloomington, MN.
Pending
First Capital Surety & Trust Company - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA.
Pending
Pai Trust Company, Inc. - Application to establish a Trust Service Office at 1300 Enterprise Drive, De Pere, WI.
Pending
Next Generation Trust Company – Application to establish a nondepository public trust company at 401 East 8th Street, Suite 200H, Sioux Falls, SD.
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in February are as follows:
Money Lending  6
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender  1
Non-Residential Mortgage Lender 1
Mortgage Loan Originator 55
Licenses cancelled in February are as follows: 
Money Lending  6
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 2
Current number of active licenses February
Money Lending  386
Money Transmitter 82
Mortgage Brokerage 17
Mortgage Lender 250
NR Mortgage Lender for Insurance Company 34
Mortgage Loan Originator 2,467
Total 3,236
January 2017
Banks
Great Western Bank, Watertown, SD – Application to establish a branch bank at 3002 N. Campbell, Tucson, AZ.
Approved
01/23/2017
BankWest, Pierre, SD – Application to establish a loan production office at 1140 N. Main, St., Suite 10, Spearfish, SD.
Approved 01/13/2017
Security State Bank, Tyndall, SD Application to establish a loan production office at 100 W. Blaine Avenue, Viborg, SD.
Pending
Trusts
Bridgeford Trust Company - Application to establish a Trust Service Office at 101 South Reid Street, Suite 307, Sioux Falls, SD. Pending
Cornerstone Private Asset Trust Company - Application to establish a Trust Service Office at 4470 W. 78th St. Circle, Suite 200, Bloomington, MN. Pending
First Capital Surety & Trust Company, - Application to establish a Trust Service Office at 4701 Cox Road, Suite 285, Glen Allen, VA. Pending
Pai Trust Company, Inc. - Application to establish a Trust Service Office at 1300 Enterprise Drive, De Pere, WI. Pending
Midland Trust Company – Application to establish a nondepository public trust company at 101 South Reid Street, Suite 307, Office 351, Sioux Falls, SD. Pending
Next Generation Trust Company – Application to establish a nondepository public trust company at 401 East 8th Street, Suite 200H, Sioux Falls, SD. Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in January are as follows:
Money Lending  8
Money Transmitter 2
Mortgage Brokerage 0
Mortgage Lender  0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 165
Licenses cancelled in January are as follows: 
Money Lending  90
Money Transmitter 1
Mortgage Brokerage 1
Mortgage Lender 3
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 737
Current number of active licenses January
Money Lending  386
Money Transmitter 82
Mortgage Brokerage 17
Mortgage Lender 250
NR Mortgage Lender for Insurance Company 33
Mortgage Loan Originator 2,410
Total 3,178

See the Monthly Activity Report Archive for prior years.