Marcia Hultman

Cabinet Secretary

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Banking

Monthly Activity Reports - 2014

 

December 2014
Trusts
Meristem Trust Company, LLC-Application to establish a non-depository public trust at 201 South Phillips Avenue, Suite 131, Sioux Falls SD 57104 Pending
Banks
American State Bank Oldham - Application for Change in Control by Frank L Farrar. Approved
Home Federal Bank - Conversion from a Federally Chartered Saving Association to a South Dakota State Chartered Bank. Approved
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in December are as follows:
Money Lending  2
Money Transmitter 1
Mortgage Brokerage 1
Mortgage Lender  2
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 26
Licenses cancelled in December are as follows: 
Money Lending  0
Money Transmitter 0
Mortgage Brokerage 1
Mortgage Lender 3
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 12
Current number of active licenses:    
Money Lending  419
Money Transmitter 57
Mortgage Brokerage 16
Mortgage Lender 225
NR Mortgage Lender for Insurance Company 29
Mortgage Loan Originator 1,851
Total 2,597
November 2014

Trusts
Dakota Guardian Public Trust Company LLC, to establish a trust service office at 321 South 9th Street, Suite 101, Lincoln, Nebraska, and at 9300 Underwood Avenue, #100, Omaha, Nebraska 68114. Pending
Banks
American State Bank Oldham - Application for Change in Control by Frank L Farrar. Pending
Home Federal Bank - Conversion from Federally Chartered Saving Association to a South Dakota State Chartered Bank. Approved
First Bank & Trust Brookings, to establish a loan production office at 611 6th Street, Brookings, SD 57006 Pending
Farmers State Bank - Application to relocate a branch bank from 100 S. Main to 27600 SD Highway 19, Suite 102, Parker, SD 57053 Approved
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in November are as follows:
Money Lending  1
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender  4
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 58
Licenses cancelled in November are as follows: 
Money Lending  0
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 2
Mortgage Loan Originator 8
Current number of active licenses:    
Money Lending  417
Money Transmitter 56
Mortgage Brokerage 16
Mortgage Lender 226
NR Mortgage Lender for Insurance Company 29
Mortgage Loan Originator 1,850
Total 2,594
October 2014
Trusts
Sageworth Trust Company of South Dakota, LLC. - Application to establish a non-depository public trust at 300 South Phillips Avenue, Suite 206, Sioux Falls, SD 57104 Approved
Banks
American State Bank Oldham - Application for Change in Control by Frank L Farrar. Pending
Home Federal Bank - Conversion from Federally Chartered Saving Association to a South Dakota State Chartered Bank. Approved
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in October are as follows:
Money Lending  8
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender  1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 21
Licenses cancelled in October are as follows: 
Money Lending  0
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 5
Current number of active licenses:    
Money Lending  416
Money Transmitter 56
Mortgage Brokerage 16
Mortgage Lender 254
NR Mortgage Lender for Insurance Company 30
Mortgage Loan Originator 1,787
Total 2,559
September 2014
Trusts
Trident Trust Company (South Dakota) Inc. - to non-depository public trust at 200 North Phillips Avenue, Suite 301, Sioux Falls, SD 57401 Approved
Corundum Trust Company, LLC a conversion from LLC to a Corporation. Approved
Beneco Trust Company, LLC to establish a Trust Service Office at 9089 East Bahia Drive, Suite 100, Scottsdale, AZ 85260
Approved
Summer Street Trust Company, LLC. To non-depository private trust company at 201 South Philips Avenue, Suite 130, Sioux Falls, SD 57104 Approved
Sageworth Trust Company of South Dakota, LLC. - to non-depository public trust at 300 South Phillips Avenue, Suite 206, Sioux Falls, SD 57104 Pending
Banks
American State Bank Oldham - Application for Change in Control by Frank L Farrar. Pending
Great Western Bank - Application to establish a branch bank in Greeley Colorado. Approved
Home Federal Bank - Conversion from Federally Chartered Saving Association to a South Dakota State Chartered Bank. Approved
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in September are as follows:
Money Lending  4
Money Transmitter 0
Mortgage Brokerage 2
Mortgage Lender  4
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 40
Licenses cancelled in September are as follows: 
Money Lending  2
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender 4
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 3
Current number of active licenses:    
Money Lending  447
Money Transmitter 55
Mortgage Brokerage 16
Mortgage Lender 223
NR Mortgage Lender for Insurance Company 30
Mortgage Loan Originator 1,768
Total 2,539
August 2014
Trusts
James R. Wefso, Gregory A. Hunter, Robert Wentz, Thomas C. Smith, John L. Decker Jr., and Todd W. Peterson to establish Dakota Guardian Trust Company, LLC, a non-depository public trust company, at 805 5th Street, Rapid City SD 57701 Approved
Pierce McDowell III, David Peterson and Matthew Tobin to establish Summer Street Trust Company, LLC, a non-depository private trust company, at 201 S. Phillips Avenue, Suite 130, Sioux Falls, SD 57104. Approved
Corundum Trust Company, LLC a conversion from LLC to a Corporation. Pending
Beneco Trust Company, LLC to establish a Trust Service Office at 9089 East Bahia Drive, Suite 100, Scottsdale, AZ 85260
Pending
Summer Street Trust Company, LLC. To non-depository private trust company at 201 South Philips Avenue, Suite 130, Sioux Falls, SD 57104 Pending
Banks
First State Bank of Roscoe - Application of relocate from 201 N Mitchell Street, Roscoe, South Dakota to 202 N Mitchell Street, Roscoe, South Dakota Approved
American State Bank Oldham - Application for Change in Control by Frank L Farrar. Pending
Great Western Bank - Application to establish a branch bank in Greeley Colorado. Pending
Home Federal Bank to Conversion from Federally Chartered Saving Association to a South Dakota State Chartered Bank. Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in August are as follows:
Money Lending  6
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender  8
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 42
Licenses cancelled in August are as follows: 
Money Lending  1
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 6
Current number of active licenses:    
Money Lending  426
Money Transmitter 56
Mortgage Brokerage 14
Mortgage Lender 205
NR Mortgage Lender for Insurance Company 30
Mortgage Loan Originator 727
Total 2,472
July 2014
Trusts
James R. Wefso, Gregory A. Hunter, Robert Wentz, Thomas C. Smith, John L. Decker Jr., and Todd W. Peterson to establish Dakota Guardian Trust Company, LLC, a non-depository public trust company, at 805 5th Street, Rapid City SD 57701 Approved
Pierce McDowell III, David Peterson and Matthew Tobin to establish Summer Street Trust Company, LLC, a non-depository private trust company, at 201 S. Phillips Avenue, Suite 130, Sioux Falls, SD 57104. Approved
Jeff Jones, Jennifer Benson and Bonny Hansen to establish FNN Trust Company South Dakota, LLC, a Non-depository Public Trust Company, at 210 North Lawler, Mitchell, South Dakota 57301, and a Trust Service office at 70 2nd Street Southwest, Huron, South Dakota 57350. Approved
Corundum Trust Company, LLC a conversion from LLC to a Corporation. Approved
Beneco Trust Company, LLC to establish a Trust Service Office at 9089 East Bahia Drive, Suite 100, Scottsdale, AZ 85260
Pending
Banks
First State Bank of Roscoe - Application of relocate from 201 N Mitchell Street, Roscoe, South Dakota to 202 N Mitchell Street, Roscoe, South Dakota Approved
American State Bank Oldham - Application for Change in Control by Frank L Farrar. Pending
Great Western Bank - Application to establish a branch bank in Greeley Colorado. Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in July are as follows:
Money Lending  8
Money Transmitter 3
Mortgage Brokerage 0
Mortgage Lender  4
Non-Residential Mortgage Lender 3
Mortgage Loan Originator 50
Licenses cancelled in July are as follows: 
Money Lending  7
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 2
Mortgage Loan Originator 17
Current number of active licenses:    
Money Lending  399
Money Transmitter 56
Mortgage Brokerage 14
Mortgage Lender 214
NR Mortgage Lender for Insurance Company 30
Mortgage Loan Originator 1,683
Total 2,396
June 2014
Trusts
South Dakota Trust Company, LLC to establish a trust service office at 4020 Jackson Boulevard, Suite 1, Rapid City, South Dakota Approved
Jeff Jones, Jennifer Benson and Bonny Hansen to establish First Trust Company South Dakota, LLC, a non-depository public trust company, at 210 North Lawler, Mitchell, South Dakota 57301, and a trust service office at 70 2nd Street Southwest, Huron, South Dakota 57350 Approved
Expedition Trust Company to establish a trust service office 310 4th Street NE, Suite 102, Charlottesville, VA 22903 Approved
James R. Wefso, Gregory A. Hunter, Robert Wentz, Thomas C. Smith, John L. Decker Jr., and Todd W. Peterson to establish Dakota Guardian Trust Company, LLC, a non-depository public trust company, at 805 5th Street, Rapid City SD 57701 Pending
Pierce McDowell III, David Peterson and Matthew Tobin to establish Summer Street Trust Company, LLC, a non-depository private trust company, at 201 S. Phillips Avenue, Suite 130, Sioux Falls, SD 57104. Pending
Beneco Trust Company, LLC to establish a Trust Service Office at 9089 East Bahia Drive, Suite 100, Scottsdale, AZ 85260
Pending
Banks
First State Bank of Roscoe - Application of relocate from 201 N Mitchell Street, Roscoe, South Dakota to 202 N Mitchell Street, Roscoe, South Dakota Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in June are as follows:
Money Lending  6
Money Transmitter 8
Mortgage Brokerage 0
Mortgage Lender  1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 21
Licenses cancelled in June are as follows: 
Money Lending  10
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 35
Current number of active licenses:    
Money Lending  354
Money Transmitter 51
Mortgage Brokerage 14
Mortgage Lender 220
NR Mortgage Lender for Insurance Company 30
Mortgage Loan Originator 1,674
Total 2,257
May 2014
Trusts
PAI Trust Company, Inc. – Application to relocate from 300 South Phillips Avenue, Suite 202, Sioux Falls, South Dakota to 3904 West Technology Circle, Suite 104, Sioux Falls, South Dakota Approved
South Dakota Trust Company, LLC to establish a trust service office at 4020 Jackson Boulevard, Suite 1, Rapid City, South Dakota Pending
Jeff Jones, Jennifer Benson and Bonny Hansen to establish First Trust Company South Dakota, LLC, a non-depository public trust company, at 210 North Lawler, Mitchell, South Dakota, and a trust service office at 70 2nd Street Southwest, Huron, South Dakota Pending
Expedition Trust Company to establish a trust service office 310 4th Street NE, Suite 102, Charlottesville, VA Pending
Banks
No activity to report.  
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in May are as follows:
Money Lending  4
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender  4
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 67
Licenses cancelled in May are as follows: 
Money Lending  1
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 41
Current number of active licenses:    
Money Lending  401
Money Transmitter 51
Mortgage Brokerage 14
Mortgage Lender 241
NR Mortgage Lender for Insurance Company 10
Mortgage Loan Originator 1,540
Total 2,257
April 2014
Trusts
PAI Trust Company, Inc. – Application to relocate from 300 South Phillips Avenue, Suite 202, Sioux Falls, South Dakota to 3904 West Technology Circle, Suite 104, Sioux Falls, South Dakota Pending
Banks
No activity to report.  
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  6
Non-Residential Mortgage Lender 5
Mortgage Loan Originator 97
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 45
Current number of active licenses:    
Money Lending  398
Money Transmitter 51
Mortgage Brokerage 14
Mortgage Lender 207
NR Mortgage Lender for Insurance Company 30
Mortgage Loan Originator 1,510
Total 2,210
March 2014
Trusts
   
Banks
American Bank & Trust, Wessington Springs, SD to merge with and into American State Bank, Pierre, SD Approved March 10, 2014
Great Western Bank, Watertown, SD to establish a branch bank at 600 Pierce Street, Sioux City, Iowa Approved March 20, 2014
BankStar Financial, Elkton, SD to merge First National Bank of Volga, SD with and into BankStar Financial, Elkton, SD with BankStar Financial as the surviving institution and to consolidate two Brookings locations into one location at 427 8th Street South, Brookings, SD Approved March 17, 2014
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in March are as follows:
Money Lending  3
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender  2
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 112
Licenses cancelled in March are as follows: 
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:    
Money Lending  400
Money Transmitter 51
Mortgage Brokerage 13
Mortgage Lender 201
NR Mortgage Lender for Insurance Company 25
Mortgage Loan Originator 1,462
Total 2,152
February 2014
Trusts
Mariner Trust Company, LLC – Application to establish a Trust Service Office at 4200 West 115th Street, Suite 100, Leawood, KS
Approved February 18, 2014
Banks
Plains Commerce Bank – Application to establish a branch bank in Bismarck, ND Approved February 4, 2014
American Bank & Trust, Wessington Springs, SD to merge with and into American State Bank, Pierre, SD Pending
Great Western Bank, Watertown, SD to establish a branch bank at 600 Pierce Street, Sioux City, Iowa Pending
BankStar Financial, Elkton, SD to merge First National Bank of Volga, SD with and into BankStar Financial, Elkton, SD with BankStar Financial as the surviving institution and to consolidate two Brookings locations into one location at 427 8th Street South, Brookings, SD Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in February are as follows:
Money Lending  5
Money Transmitter 2
Mortgage Brokerage 0
Mortgage Lender  2
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 30
Licenses cancelled in February are as follows: 
Money Lending  1
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 2
Current number of active licenses:    
Money Lending  397
Money Transmitter 51
Mortgage Brokerage 13
Mortgage Lender 199
NR Mortgage Lender for Insurance Company 25
Mortgage Loan Originator 1,350
Total 2,035
January 2014
Trusts
Dorsey & Whitney Trust Company LLC - Application to establish a Trust Service Office at 305 Lytton Avenue, Palo Alto, California Approved January 15, 2014
Expedition Trust Company - Application to establish a non-depository public trust company at 330 S. Poplar Avenue, Suite 103-K, Pierre, SD Approved January 16, 2014
Hamilton Trust Company of South Dakota LLC - Application to establish a non-depository public trust company at 201 S. Phillips Ave., Suite 124, Sioux Falls, SD Approved January 21, 2014
MadisonTrust Company, Inc. – Application to establish a non-depository public trust company at 401 East 8th Street, Suite 200P, Sioux Falls, SD Approved January 23, 2014
Sterling Trustees, LLC – Application to relocate from 201 S. Philips Avenue, Suite 222, Sioux Falls, SD to 101 S. Main Street, Suite 310, Sioux Falls, SD Approved January 24, 2014
Mariner Trust Company, LLC – Application to establish a Trust Service Office at 4200 West 115th Street, Suite 100, Leawood, KS
Pending
Banks
First Bank & Trust, Sioux Falls - Application to establish a loan production office at 1400 Washington Avenue North, Madison, SD Approved January 7, 2014
1st Financial Bank USA - Application to establish a loan production office at 55 East 59th Street, Floor 6, New York, NY Approved January 6, 2014
Minnwest Bank, M.V. Redwood Falls, Minnesota - Application to merge Minnwest Bank Sioux Falls, Sioux Falls, South Dakota with and into Minnwest Bank, M.V., Redwood Falls, Minnesota Approved January 15, 2014
Plains Commerce Bank – Application to establish a branch bank in Bismarck, ND Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in January are as follows:
Money Lending  0
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender  6
Non-Residential Mortgage Lender 1
Mortgage Loan Originator 71
Licenses cancelled in January are as follows: 
Money Lending  2
Money Transmitter 1
Mortgage Brokerage 4
Mortgage Lender 7
Non-Residential Mortgage Lender 2
Mortgage Loan Originator 312
Current number of active licenses:    
Money Lending  395
Money Transmitter 48
Mortgage Brokerage 13
Mortgage Lender 197
NR Mortgage Lender for Insurance Company 25
Mortgage Loan Originator 1,322
Total 2,000