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South Dakota: Banks’ Economic Impact

Banks support South Dakota’s economy with consumer, business and other loans, and by providing more than 11,000 people with a rewarding place to work.

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  • 11,795Employees

  • $1.1 BTotal Annual Compensation & Benefits

  • $91,653Average Total Compensation & Benefits

  • 57Banks Headquartered in State

Source: FDIC Call Report 2022Q4, Bureau of Labor Statistics 2022, ABA analysis



  • $2.4 BNew Home Loans Booked in 2022

  • 8,489Number of New Home Loans in 2022

  • $255,000Median New Home Loan Size in 2022

  • $2.4 BSmall Business Loans

  • 69.6 KNumber of Small Business Loans

  • $34,898Average Small Business Loan

  • $170 MSmall Farm Loans

  • 1,682Number of Small Farm Loans

  • $101,067Average Small Farm Loan

Source: FFIEC HMDA 2022, FFIEC CRA 2021, FDIC Call Report 2022Q4, ABA analysis



  • $715 BDeposits

  • 79Banks Operating Branches

  • 442Branches & Offices

  • 103Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2022Q2, CFE Fund, ABA analysis

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