Marcia Hultman

Cabinet Secretary

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Banking

Monthly Activity Reports - 2020

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.

September 2020
Banks
Rivers Edge Bank, Marion, South Dakota – Application to relocate a branch from 217 S. Main St., Howard, South Dakota to 304 S. Main St., Howard, South Dakota
Pending
Great Western Bank, Sioux Falls, South Dakota – Application to close a branch loan production office at 801 E. Douglas Ave., Suite 100, Wichita, Kansas
Pending
American Bank & Trust, Wessington Springs, South Dakota – Application to establish a branch at 1600 4th St. NE, Watertown, South Dakota. Approved 09/14/2020
Trusts
James Ferguson, Deirdre Hochman and Carl Schmidtman – Application to establish Intertrust Trust Company a public trust company at 101 South Reid St., Suite (TBD), Sioux Falls, South Dakota
Pending
Matt Tobin – Application to establish Clovertrust Trust Company, a nondepository public trust company at 212 S. Main Ave., Suite 153, Sioux Falls, South Dakota

Pending
Jonathan Marcus – Application to establish Alimco Trust LLC at 101 South Reid St., Suite 307, Sioux Falls, South Dakota
Pending
John McCarty, Chiao Chieh Wei, and Mark Gunderson – Application to establish Aegis Trust Company at 5006 S. Broadband Lane, Suite 100, Sioux Falls, South Dakota
Pending
Roaring Fork Trust Company – Application to establish a trust service office at 20 W. State St., Trenton, New Jersey.
Pending
Dougherty Trust Company, LLC – Application to establish a trust service office at 90 S. Seventh St., Suite 4300, Minneapolis, Minnesota
Approved 09/30/2020
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in September
Money Lending  5
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender  7
Non-Residential Mortgage Lender 1
Mortgage Loan Originator 145
Licenses canceled in September
Money Lending  1
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 5
Current number of active licenses in September
Money Lending  460
Money Transmitter 142
Mortgage Brokerage 34
Mortgage Lender 276
NR Mortgage Lender for Insurance Company 58
Mortgage Loan Originator 3,963
Total 4,933
August 2020
Banks
Rivers Edge Bank, Marion, South Dakota — Application to relocate a branch from 217 S. Main St., Howard, South Dakota to 304 S. Main St., Howard, South Dakota
Pending
Trusts
James Ferguson, Deirdre Hochman and Carl Schmidtman — Application to establish a public trust company at 101 South Reid St., Suite (TBD), Sioux Falls, South Dakota
Pending
Matt Tobin — Application to establish Clovertrust Trust Company, a nondepository public trust company at 212 S. Main Ave., Suite 153, Sioux Falls, South Dakota
Pending
Dougherty Trust Company, LLC — Application to establish a trust service office at 90 South Seventh Street, Suite 4300, Minneapolis, Minnesota
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in August
Money Lending  2
Money Transmitter 2
Mortgage Brokerage 0
Mortgage Lender  1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 158
Licenses canceled in August
Money Lending  1
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 4
Current number of active licenses in August
Money Lending  453
Money Transmitter 143
Mortgage Brokerage 34
Mortgage Lender 269
NR Mortgage Lender for Insurance Company 57
Mortgage Loan Originator 3,815
Total 4,771
July 2020
Banks
BankWest, Inc. Pierre, South Dakota — Application to establish a loan production office at 107 S. Highland Ave., Pierre, South Dakota
Approved 07/08/2020
Security State Bank, Tyndall, South Dakota — Application to establish a branch at 202 Grant St., Jackson, Minnesota.

Approved 07/08/2020
BankWest Inc., Pierre, South Dakota — Application to establish a branch at 1046 Makenda Ave., Madison, South Dakota
Pending
Trusts
Matt Tobin to establish Clovertrust Trust Company, a nondepository public trust company at 212 S. Main Ave., Suite 153, Sioux Falls, South Dakota
Pending
Dougherty Trust Company, LLC — Application to establish a trust service office at 90 S. Seventh St., Suite 4300, Minneapolis, Minnesota
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in July
Money Lending  9
Money Transmitter 10
Mortgage Brokerage 2
Mortgage Lender  0
Non-Residential Mortgage Lender 2
Mortgage Loan Originator 195
Licenses canceled in July
Money Lending  0
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender 2
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 2
Current number of active licenses in July
Money Lending  353
Money Transmitter 141
Mortgage Brokerage 34
Mortgage Lender 268
NR Mortgage Lender for Insurance Company 57
Mortgage Loan Originator 3,658
Total 4,511
June 2020
Banks
First Bank & Trust, Brookings, South Dakota - Application to merge First Bank & Trust Sioux Falls, with and into First Bank & Trust Brookings, South Dakota.
Approved 05/27/2020
First Bank & Trust, Brookings, South Dakota – Application to close a branch at 102 S. Main St., Stockholm, South Dakota
Approved 05/08/2020
Dacotah Bank, Aberdeen, South Dakota – Application to merge First State Bank of Claremont with and into Dacotah Bank, Aberdeen, South Dakota
Approved 05/28/2020
Trusts
Matt Tobin to establish Clovertrust Trust Company, a nondepository public trust company at 212 S. Main Ave., Suite 153, Sioux Falls, South Dakota
Pending
Dougherty Trust Company, LLC – Application to establish a trust service office at 90 South Seventh St., Suite 4300, Minneapolis, Minnesota
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in June
Money Lending  2
Money Transmitter 2
Mortgage Brokerage 0
Mortgage Lender  0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 74
Licenses canceled in June
Money Lending  1
Money Transmitter 2
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 1
Current number of active licenses in June
Money Lending  350
Money Transmitter 134
Mortgage Brokerage 33
Mortgage Lender 270
NR Mortgage Lender for Insurance Company 56
Mortgage Loan Originator 3,543
Total 4,386
May 2020
Banks
First Bank & Trust, Brookings, South Dakota — Application to merge First Bank & Trust Sioux Falls, with and into First Bank & Trust Brookings, South Dakota.
Pending
First Bank & Trust, Brookings, South Dakota — Application to close a branch at 102 S. Main St., Stockholm, South Dakota

Pending
Dacotah Bank, Aberdeen, South Dakota — Application to merge First State Bank of Claremont with and into Dacotah Bank, Aberdeen, South Dakota
Pending
Trusts
Matt Tobin to establish Clovertrust Trust Company, a nondepository public trust company at 212 S. Main Ave., Suite 153, Sioux Falls, South Dakota Pending
Dougherty Trust Company, LLC — Application to establish a trust service office at 90 S. Seventh St., Suite 4300, Minneapolis, Minnesota Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in May
Money Lending  4
Money Transmitter 0
Mortgage Brokerage 1
Mortgage Lender  0
Non-Residential Mortgage Lender 1
Mortgage Loan Originator 178
Licenses canceled in May
Money Lending  1
Money Transmitter 1
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 2
Current number of active licenses in May
Money Lending  344
Money Transmitter 131
Mortgage Brokerage 32
Mortgage Lender 271
NR Mortgage Lender for Insurance Company 55
Mortgage Loan Originator 3,407
Total 4.240
April 2020
Banks
First Bank & Trust, Brookings, South Dakota — Application to merge First Bank & Trust Sioux Falls, with and into First Bank & Trust Brookings, South Dakota.
Pending
First Bank & Trust, Brookings, South Dakota — Application to close a branch at 102 S. Main Street, Stockholm, South Dakota

Pending
Dacotah Bank, Aberdeen, South Dakota — Application to merge First State Bank Claremont with and into Dacotah Bank, Aberdeen, South Dakota
Pending
Trusts
Expedition Trust Company, Sioux Falls, South Dakota — Application to change address from 330 S. Poplar Ave., Suite 103-K, Pierre, South Dakota, to 435 S. Chapelle St., Pierre, South Dakota Approved 04/07/2020
Aegis Trust Company — Application to establish a nondepository public trust company at 5006 Broadband Lane, Suite C, Sioux Falls, South Dakota
Pending
Clovertrust Trust Company, — Application to establish a nondepository public trust company at 212 S. Main Ave., Suite 153, Sioux Falls, South Dakota
Pending
Digital Custody Trust Company, Inc. — Application to establish a nondepository public trust company at TBD, Sioux Falls, South Dakota Pending
Dougherty Trust Company, LLC — Application to establish a trust service office at 90 S. Seventh St., Suite 4300, Minneapolis, Minnesota
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in April
Money Lending  3
Money Transmitter 1
Mortgage Brokerage 1
Mortgage Lender  1
Non-Residential Mortgage Lender 1
Mortgage Loan Originator 46
Licenses canceled in April
Money Lending  1
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 1
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 2
Current number of active licenses in April
Money Lending  337
Money Transmitter 131
Mortgage Brokerage 31
Mortgage Lender 269
NR Mortgage Lender for Insurance Company 52
Mortgage Loan Originator 3,106
Total 3,926
March 2020
Banks
None for this month
 
Trusts
Expedition Trust Company, Sioux Falls, South Dakota — Application to change address from 330 S. Poplar Ave., Suite 103-K, Pierre, South Dakota, to 435 S. Chapelle St., Pierre, South Dakota
Pending
NuView Trust, Pierre, South Dakota — Application to change address from 330 S. Poplar Ave., Suite 103, to 101 S. Reid St., Suite 307, Sioux Falls, South Dakota
Approved 03/27/2020
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in March
Money Lending  11
Money Transmitter 4
Mortgage Brokerage 1
Mortgage Lender  4
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 146
Licenses canceled in March
Money Lending  0
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 4
Current number of active licenses in March
Money Lending  335
Money Transmitter 130
Mortgage Brokerage 30
Mortgage Lender 269
NR Mortgage Lender for Insurance Company 53
Mortgage Loan Originator 3,062
Total 3,879
February 2020
Banks
None for this month
Trusts
None for this month
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in February
Money Lending  11
Money Transmitter 4
Mortgage Brokerage 1
Mortgage Lender  2
Non-Residential Mortgage Lender 3
Mortgage Loan Originator 52
Licenses canceled in February
Money Lending  1
Money Transmitter 0
Mortgage Brokerage 0
Mortgage Lender 0
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 9
Current number of active licenses in February
Money Lending  392
Money Transmitter 116
Mortgage Brokerage 24
Mortgage Lender 259
NR Mortgage Lender for Insurance Company 42
Mortgage Loan Originator 2,714
Total 3,547
January 2020
Banks
First Premier Bank, Sioux Fall, South Dakota — Application to establish a branch at 202 NW 2nd Street, Madison South Dakota.

Approved 01/10/2020
Trusts
Dougherty Trust Company, LLC — Application to establish a public trust company at 212 S. Main Ave., Suite 152, Sioux Falls, South Dakota
Approved 01/07/2020
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in January
Money Lending  6
Money Transmitter 2
Mortgage Brokerage 2
Mortgage Lender  7
Non-Residential Mortgage Lender 0
Mortgage Loan Originator 249
Licenses canceled in January
Money Lending  39
Money Transmitter 3
Mortgage Brokerage 4
Mortgage Lender 10
Non-Residential Mortgage Lender 4
Mortgage Loan Originator 671
Current number of active licenses in January
Money Lending  384
Money Transmitter 115
Mortgage Brokerage 23
Mortgage Lender 261
NR Mortgage Lender for Insurance Company 41
Mortgage Loan Originator 2,590
Total 3,414

See the Monthly Activity Report Archive for prior years.