South Dakota
Branch-office deposits reported to the FDIC Summary of Deposits survey by institutions operating in South Dakota, June 30 of each survey year, 1994–2025. Dollar figures are the survey’s thousands-of-USD unit displayed as $B/$T.
Deposits, 1994–2025
Office-assigned deposits at branches in South Dakota went from $11.60B in 1994 to $919.58B in 2025, nominal.
Source: FDIC Summary of Deposits FDIC Summary of Deposits, June 30 of each survey year, 1994-2025. State-level aggregate of branch rows. Methodology
Branches and institutions
The branch network in South Dakota peaked at 487 offices in 2010; the 2025 survey counts 429. The institution count moved from 128 (1994) to 81 (2025).
Source: FDIC Summary of Deposits FDIC Summary of Deposits, June 30 of each survey year, 1994-2025. Methodology
Deposit concentration (HHI)
Statewide institution-share HHI: the sum of squared percent shares of each institution’s in-state deposits, 0–10,000. The shaded bands are the agencies’ 2010 Horizontal Merger Guidelines classification (section 5.3): unconcentrated below 1,500, moderately concentrated 1,500–2,500, highly concentrated above 2,500. The dashed line marks the 2023 Merger Guidelines threshold, under which markets with an HHI above 1,800 are highly concentrated (Guideline 1). South Dakota’s HHI is 4654 in 2025 (highly concentrated on the 2010 bands), against 863 in 1994 and a span peak of 6401 in 2006. A statewide HHI is descriptive: merger review defines banking markets locally, not by state.
Source: FDIC Summary of Deposits | DOJ & FTC, Horizontal Merger Guidelines (2010), section 5.3 | DOJ & FTC, Merger Guidelines (2023), Guideline 1 HHI computed from FDIC Summary of Deposits branch rows, June 30 of each survey year, 1994-2025. Methodology
Largest institutions by in-state deposits, 2025
Branch rows grouped by FDIC certificate; names as reported to the survey. Share is of all SOD deposits booked in South Dakota that year, the same shares the statewide HHI squares and sums.
| # | Institution | Deposits | Share | Branches |
|---|---|---|---|---|
| 1 | Citibank, National Association cert 7213 | $522.25B | 56.79% | 2 |
| 2 | Wells Fargo Bank, National Association cert 3511 | $347.36B | 37.77% | 30 |
| 3 | The Bancorp Bank, National Association cert 35444 | $7.77B | 0.85% | 1 |
| 4 | Pathward, National Association cert 30776 | $6.01B | 0.65% | 1 |
| 5 | First Interstate Bank cert 1105 | $3.41B | 0.37% | 46 |
| 6 | First Bank & Trust cert 3973 | $3.18B | 0.35% | 15 |
| 7 | Dacotah Bank cert 17437 | $2.78B | 0.30% | 21 |
| 8 | First Dakota National Bank cert 4028 | $2.74B | 0.30% | 17 |
| 9 | First PREMIER Bank cert 6085 | $2.55B | 0.28% | 14 |
| 10 | American Bank & Trust cert 1117 | $1.71B | 0.19% | 18 |
Source: FDIC Summary of Deposits FDIC Summary of Deposits, June 30, 2025. Deposits are office-assigned; an institution's internal allocation practices shape where its balances appear. Methodology
County concentration extremes, 2025
The most and least concentrated of South Dakota’s 64 counties in the survey, by county-level deposit HHI. A county served by a single institution sits at the 10,000 ceiling by construction; thin county markets are the norm outside metros.
Most concentrated
| County | HHI | Inst. | Branches |
|---|---|---|---|
| Bennett | 10000 | 1 | 1 |
| Campbell | 10000 | 1 | 2 |
| Clark | 10000 | 1 | 2 |
| Faulk | 10000 | 1 | 1 |
| Harding | 10000 | 1 | 1 |
Least concentrated
| County | HHI | Inst. | Branches |
|---|---|---|---|
| Pennington | 1392 | 10 | 23 |
| Codington | 1427 | 9 | 13 |
| Davison | 1681 | 8 | 12 |
| Union | 1718 | 9 | 12 |
| Clay | 1825 | 7 | 7 |
Source: FDIC Summary of Deposits FDIC Summary of Deposits, June 30, 2025. County HHIs use institution shares of summed branch deposits within the county. Methodology
Back to the national overview, or see the methodology for the survey definition, the HHI construction, and the office-assignment caveat.