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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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Jobs

Jobs

  • 11,403Employees

  • $1.1 BillionTotal Annual Compensation & Benefits

  • $100,136Average Total Compensation & Benefits

  • 57Banks Headquartered in State

Source: FDIC Call Report 2024Q4, Bureau of Labor Statistics 2024, ABA analysis

Lending

Lending

  • $2 BillionNew Home Loans Booked in 2024

  • 6,794Number of New Home Loans in 2024

  • $275,000Median New Home Loan Size in 2024

  • $3 BillionSmall Business Loans

  • 54 ThousandNumber of Small Business Loans

  • $54,879Average Small Business Loan

  • $175.1 MillionSmall Farm Loans

  • 1,726Number of Small Farm Loans

  • $101,428Average Small Farm Loan

Source: FFIEC HMDA 2024, FFIEC CRA 2023, FDIC Call Report 2024Q4, ABA analysis

Customers

Customers

  • $867 BillionDeposits

  • 82Banks Operating Branches

  • 432Branches & Offices

  • 106Branches Offering Low Fee Bank On-certified Accounts

Source: FDIC Summary of Deposits 2024Q2, CFE Fund, ABA analysis

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