Banking Commission
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.
Commission Members
Jeff Erickson, Chair, Watertown (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)
Upcoming Meeting
A meeting of the South Dakota Banking Commission will be held May 9, 2012 in Pierre. See the agenda (in Adobe .pdf format*).
Agendas
Documents listed below are provided in Adobe .pdf format unless otherwise noted.
2012
May 9, 2012
Handouts for meeting:
Exhibit 1, Accreditation Overview
Exhibit 2, Sioux Falls Financial Analysis
Exhibit 3, Trust Companies Resolution Fund
2011
December 12, 2011
Handouts for meeting:
PowerPoint presentation
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
Meeting Minutes
2011
December 12, 2011
July 25, 2011
Activity Report
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.
Declaratory Rulings
H-D Electric Cooperative, Inc.
Northern Beef Packers Limited Partnership and Epoch Star Limited
Subscribe to e-lerts
If you would like to receive an e-mail notice when new applications are filed with the Division, please e-mail your name, address and e-mail address to the Division at banking@state.sd.us.
*Opening and printing Adobe .pdf files requires Adobe Acrobat Reader. Click here as needed to download the free Adobe Acrobat Reader.
700 Governors Drive
Pierre, SD 57501-2291
Tel. 605.773.3101
Fax. 605.773.6184
