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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 9,000 people with a rewarding place to work.

Find State-by-State Data #
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Jobs

Jobs

  • 10,682Employees

  • $870.3 MTotal Annual Compensation & Benefits

  • $81,469Average Total Compensation & Benefits

  • 62Banks Headquartered in State

Source: Estimates based on ABA 2019/2020 survey data

Lending

Lending

  • $954 MSmall Business Loans Outstanding

  • $2.3 BNew Home Loans Booked in 2018

  • 12,437Number of New Home Loans in 2018

  • $155,000Median New Home Loan Size in 2018

  • $791.1 MSmall Farm Loans Outstanding

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Saving Jobs in South Dakota

A woman wearing a mask and apron operates an espresso machine

Paycheck Protection Program loans delivered much-needed financial relief to businesses in South Dakota during the COVID-19 pandemic. Ninety-six percent of the 181,000+ jobs saved were a result of PPP government loans facilitated by America’s banks.

More stories on Lending #

Source: Estimates based on ABA 2019/2020 survey data, HMDA

Customers

Customers

  • 1.2 MTotal Customers

  • $692 BDeposits

  • 1.1 MConsumer

  • 237.1 KSmall Business

  • 59.1 KSmall Farm

  • 80Banks Operating Branches

  • 457Branches & Offices

Source: Estimates based on ABA 2019/2020 survey data, FDIC branch deposit data

Giving Back

Giving Back

  • 111 KVolunteer hours

  • $10.7 MCommunity Donations

Educating America's Future Farmers

Future Farmers Program

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 2019/2020 survey data. Does not include individual employee donations.

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