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.
December 2020
November 2020
October 2020
|
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 |
