Banking
About Us
Legal Authorization and Responsibilities
Mission and Goals
The primary mission of the South Dakota Division of Banking is to charter, license, regulate, supervise and provide guidance to South Dakota financial entities in order to instill consumer confidence, protect consumer interests and promote economic stability through a common sense, efficient and risk-focused approach.
Our major goals are:
- Create, sustain and enhance a stable experienced staff
- Provide better coverage of non-banks
- Enhance state regulation and supervision
- Improve efficiencies
- Evaluate the Community Banking Model
Administration
The Division of Banking is administered under the direction of the Department of Labor and Regulation. The Division is under the administrative control and supervision of the Director of Banking, Bret Afdahl. In addition to the Director, the Governor appoints a Banking Commission consisting of five members.
The Director of Banking is the executive officer of the Commission and complies with and enforces orders and directions of the Commission. The Director is responsible to act on applications to organize a bank, change control, merge, change location, and establish or close branch banks. The Commission is required to hear appeals of application decisions or disputes and also acts on Administrative Rules of South Dakota (ARSD) necessary for the management and administration of banks and trust companies over which it has jurisdiction.
Legal Authorization and Responsibilities
For more information on the authorization and responsibilities of the Division of Banking as mandated in South Dakota Codified Law and Administrative Rules of South Dakota, and for a list of the types of entities supervised by the Division of Banking, please see Laws and Rules.
Annual Reports
The Division of Banking publishes on this website a monthly Activity Report. The monthly activity reports are archived annually and available in Adobe PDF format for:
2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995
Contact Us
Division of Banking
South Dakota Department of Labor and Regulation
1714 Lincoln Ave., Suite 2
Pierre, SD 57501
Phone: 605.773.3421
Fax: 605.773.3460
email: banking@state.sd.us
Staff Directory
| Division of Banking Staff Contacts | ||
| Title | Name (with email link) | Certifications* |
| Director | Bret Afdahl | |
| Deputy Director - Banking | Michael Dummer | CEM |
| Deputy Director - Trust | Matthew Schlechter | CEM, CFIRS |
| Division Counsel and Licensing Manager | Brock Jensen | |
| Chief Bank Examiner | Drew Haack | CEM |
| Chief Trust Examiner | Bradley Pesicka | CFIRS, CSTE |
| Training Director — Banking | Jordan LaBrie | CEM |
| Training Director — Trust | Jordan Heckenlaible | CFIRS, CSTE |
| Senior Trust Analyst | Jonathon Sanborn | CFIRS, CSTE |
| Chief Information Systems Examiner | Brady Schlechter | CSBE |
| Policy Analyst | Lorna R. Webb | CAS-III, CFE |
| Senior Secretary | Delaine Campbell | |
| Financial Institution Examiner | Donald Berger | CSBE |
| Financial Institution Examiner | Andrew Buchmann | CSBE |
| Financial Institution Examiner | Carter Cavanaugh | |
| Financial Institution Examiner | Casson Campbell | CSBE |
| Financial Institution Examiner | Dane Campbell | CEIC |
| Financial Institution Examiner | Max Eckrich | CFIRS, CSTE, CAMLS |
| Financial Institution Examiner | Macyn Flanigan | |
| Financial Institution Examiner | Paul M. Giovanetti | CMBE, CSME, CSMBE, CCPE-III |
| Financial Institution Examiner | Mallory Hahn | |
| Financial Institution Examiner | Michael Hardwick | CFIRS, CTE |
| Financial Institution Examiner | Breianna Hubbard | |
| Financial Institution Examiner | Jacob Jaeger | CEIC |
| Financial Institution Examiner | Ashley Knoff | |
| Financial Institution Examiner | Morgan Kronaizl | CTE |
| Financial Institution Examiner | Megan Lindely | CTE |
| Financial Institution Examiner | Monica Marotz | CCPE-III, CMBE, CME |
| Financial Institution Examiner | Matthew Morgan | |
| Financial Institution Examiner | Jared Muchow | |
| Financial Institution Examiner | Casey Norgaard | CFIRS, CSTE |
| Financial Institution Examiner | Brock Peterson | CTE |
| Financial Institution Examiner | Tyndall Petterson | CEIC |
| Financial Institution Examiner | Matthew Schlosser | CSTE, CFIRS |
| Financial Institution Examiner | Riley Schwans | |
| Financial Institution Examiner | Coley Shield | CSTE, CFIRS |
| Financial Institution Examiner | Matthew Svendsen | CSBE |
| Financial Institution Examiner | Brianna Torkelson | |
| Financial Institution Examiner | Nathan Unzen | CEIC |
| Financial Institution Examiner | Matthew Wester | CFIRS, CSTE |
| Financial Institution Examiner | Todd Youngbluth | CSBE |
Certifications: CAMLS — Certified Anti-Money Laundering Specialist |
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Other Contact Information
If you wish to lodge a complaint, please refer to the Consumer Complaint Reference List for the appropriate entity to contact.
See Contact Information for other financial entities, including those not regulated by the Division of Banking.