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.

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.