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 Banking Commission is authorized by South Dakota Codified Law (SDCL) 51A-2.
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.
If you would like to be added to the Division's interested party list to be notified of new applications filed with the Division, please email your name, address and email address to the Division at email@example.com.
Jeff Erickson, Chair, Sioux Falls (public member)
John L. Lillibridge, Vice-Chair, Burke (First Fidelity)
Paul Christen, Huron (public member)
Richard Westra, Aberdeen (Dacotah Bank)
Steve Hayes, Presho (Dakota Prairie Bank)
Documents listed below are provided in Adobe .pdf format unless otherwise noted.
December 4, 2013
(revised to reflect change to a teleconference due to the weather)
Independent Community Bankers of South Dakota presentation
Economic Update presentation
December 12, 2011
Handouts for meeting:
Trust Companies Resolution Fund Budget
2012 Action Issue: DLR #2: Lending Limit
2012 Action Issue: DLR #9: Regulation Reform
2012 Action Issue: DLR #11:Trust Task Force
Each month the South Dakota Division of Banking updates an Activity Report to provide information on applications filed with the South Dakota Division of Banking and/or the State Banking Commission. The report also includes the action taken on each application. This data is for information purposes only and does not constitute legal notice of an application.
Subscribe to e-lerts
If you would like to receive an email notice when new applications are filed with the Division, please email your name, address and email address to the Division at firstname.lastname@example.org.
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700 Governors Drive
Pierre, SD 57501-2291