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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.

Find State-by-State Data #
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Jobs

Jobs

  • 10,456Employees

  • $936 MTotal Annual Compensation & Benefits

  • $89,514Average Total Compensation & Benefits

  • 57Banks Headquartered in State

Source: FDIC branch deposit data (2020), estimates based on ABA 2020/2021 survey data

Lending

Lending

  • $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

A woman wearing a mask and apron operates an espresso machine

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 2020/2021 survey data, HMDA, SBA PPP Loans

Customers

Customers

  • 1.2 MCustomers

  • $793 BDeposits

  • 79Banks Operating Branches

  • 459Branches & Offices

  • 58Branches Offering Low Fee Bank On-certified Accounts

Source: Estimates based on ABA 2020/2021 survey data, FDIC branch deposit data, CFE Fund and S&P Global Market Intelligence

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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