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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 10,000 people with a rewarding place to work.

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  • 10,456Employees

  • $936 MTotal Annual Compensation & Benefits

  • $89,514Average Total Compensation & Benefits

  • 60Banks Headquartered in State

Source: FDIC Call Report year-end 2020, estimates based on ABA 2020/2021 survey data



  • $5.6 BNew Home Loans Booked in 2020

  • 24,764Number of New Home Loans in 2020

  • $195,000Median New Home Loan Size in 2020

  • $1.6 Bin Paycheck Protection Program (PPP) Loans Facilitated

  • 21,011PPP Loans

  • $20,000Median PPP Loan

  • 196.7 KJobs Supported by PPP

Source: HMDA, SBA PPP Loans, ABA analysis



  • 1.2 MCustomers

  • $674.8 BDeposits

  • 78Banks Operating Branches

  • 443Branches & Offices

  • 59Branches Offering Low Fee Bank On-certified Accounts

Source: Estimates based on ABA 2020/2021 survey data, FDIC Summary of Deposits (2021Q2), 2021 CFE Fund

Giving Back

Giving Back

  • 32.2 KVolunteer Hours

  • $17 MCommunity Donations

Educating America's Future Farmers

Headquartered in Aberdeen, SD, Dacotah Bank is proud to support South Dakota Future Farmers of America’s Star Partner program, an agricultural education initiative for youth in grades 7-12.

Source: Estimates based on ABA 2020/2021 survey data

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