Lender Register

States › South Dakota

South Dakota mortgage lending

Every HMDA reporter's applications, originations and denial rate for properties in South Dakota, with all 65 counties.

Lenders, 25+ applications 91
Households 365,544
Population 924,669

HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Record year 2024.

South Dakota had 24,091 HMDA-reported mortgage applications and 15,896 originations ($4.1bn) in 2024, from 91 lenders with at least 25 applications in the state.

The statewide denial rate was 17.0% (national 24.3%) and the median rate spread 0.2 percentage points (national 0.3). Originations ran at 43.5 per 1,000 households, against 48.0 nationally.

Originations in the state went from 18,962 in 2018 to 15,896 in 2024; the denial rate moved from 15.7% to 17.0%.

The most active lenders by originations were Plains Commerce Bank (1,903), First Bank & Trust (980) and Black Hills Federal Credit Union (958).

24,091applications, 2024
15,896loans originated$4.1bn
17.0%denial rateUS 24.3%
43.5originations per 1,000 householdsUS 48.0

Most active lenders in South Dakota

#LenderApplicationsOriginationsAmountDenial rateMedian spread
1Plains Commerce Bank2,6071,903$515m7.0%0.1
2First Bank & Trust1,373980$219m13.4%0.1
3Black Hills Federal Credit Union1,616958$167m25.5%0.1
4First Premier Bank1,346866$187m19.2%0.3
5Rocket Mortgage777602$121m15.4%0.5
6First Dakota National Bak652523$188m7.2%-0.0
7Levo Federal Credit Union629509$75m7.9%0.4
8CMG Mortgage Inc630495$159m1.1%0.3
9Bankwest, Inc.767481$123m22.4%0.6
10First Interstate Bank664420$60m25.0%1.3
11Dacotah Bank490414$100m6.4%0.2
12American Bank & Trust559357$90m18.0%0.1
13Us Bank, N.A.588345$75m31.9%0.6
14United Wholesale Mortgage413334$110m10.1%0.1
15Fairway Independent Mort Corp396321$86m4.7%0.3
16First International Bank & Trust412319$88m8.8%0.1
17Cortrust Bank NA297257$30m7.5%—
18Cortrust Mortgage, Inc.260216$54m4.0%-0.1
19Mortgage Research Center402215$62m21.6%-0.1
20First National Bank of Omaha306210$55m13.7%0.1
21Central Bank263204$60m8.4%0.0
22Guaranteed Rate, Inc.240189$50m5.9%0.3
23The First National Bank in Sioux Falls207179$50m3.7%—
24Granite Bank211168$45m7.1%-0.1
25Reliabank Dakota206166$43m5.6%0.2
26Service First Federal Credit Union192158$45m7.6%—
27First National Bank215153$37m11.6%—
28Pennymac Loan Services LLC294148$37m20.6%0.2
29Gateway First Bank187139$33m6.1%0.0
30CU Mortgage Direct, LLC194134$30m10.7%0.1
31Crosscountry Mortgage, LLC187133$39m0.7%0.5
32Wells Fargo Bank NA257132$33m24.4%0.2
33Pioneer Bank & Trust159124$45m5.1%—
34Freedom Mortgage Corporation202108$29m12.1%0.4
35Farm Credit Mid-America, Aca150103$39m17.3%0.6
36Black Hills Community Bank, NA141101$30m9.8%—
37Discover Bank46082$7.0m73.3%2.3
38Newrez LLC20181$25m30.6%0.2
39Loandepot.com, LLC15881$15m38.3%0.6
40Voyage Federal Credit Union12276$8.6m28.7%—
41Kind Lending, LLC8368$23m12.8%0.2
4221st Mortgage25162$5.5m62.2%4.8
43Navy Federal Credit Union14560$13m34.7%0.1
44Nationstar Mortgage9158$12m18.7%0.7
45Bluestone Federal Credit Union7458$5.2m13.4%—
46American Pacific Mortgage Corporation7855$20m11.3%0.3
47Rivers Edge Bank6355$5.9m5.2%—
48Highmark Federal Credit Union5454$13m0.0%—
49Iowa Bankers Mortgage Corporation6852$15m18.5%-0.1
50Flagstar Bank NA6948$15m17.2%0.3
51Northern Hills FCU6248$8.0m10.7%—
52Frontier Bank5348$12m7.7%—
53Aspen Federal Credit Union4848$5.0m0.0%2.1
54Mutual of Omaha Mortgage8747$13m31.4%0.5
55Security First Bank5847$14m3.7%—
56Minnwest Bank7146$31m22.0%1.4
57BMO Harris Bank NA8244$7.7m34.3%0.7
58Coastal Community Bank15940$2.1m2.8%4.0
59Usaa Bank7940$12m28.1%-0.2
60Mission Loans, LLC12439$3.5m8.2%3.0

Top 60 of 91 lenders with at least 25 applications in the state, by originations. 48 lenders have 100 or more applications here and link to a state-specific page.

Compared with the nation

MeasureSouth DakotaUnited States
Denial rate17.0%24.3%
Median rate spread, pp0.20.3
Originations with spread of 1.5 pp or more13.0%15.6%
Average originated loan$256k$329k
Originations per 1,000 households43.548.0
Home purchase share of originations60.0%57.0%
FHA-insured share13.0%13.4%
VA-guaranteed share9.5%7.9%

Trend, 2018–2024

ApplicationsOriginations

027,44654,8922018: 27,093 Applications2019: 32,293 Applications2020: 54,892 Applications2021: 46,830 Applications2022: 30,786 Applications2023: 22,126 Applications2024: 24,091 Applications2018: 18,962 Originations2019: 22,574 Originations2020: 40,206 Originations2021: 33,059 Originations2022: 21,331 Originations2023: 15,010 Originations2024: 15,896 Originations2018201920202021202220232024
Applications and originations in South Dakota by year

South DakotaUnited States

0%12.7%25.3%2018: 15.7% South Dakota2019: 14.2% South Dakota2020: 10.1% South Dakota2021: 11.3% South Dakota2022: 13.2% South Dakota2023: 15.2% South Dakota2024: 17% South Dakota2018201920202021202220232024
Denial rate by year, US dashed

FHA share of originationsVA share

0%6.5%13%2018: 11.7% FHA share of originations2019: 10.7% FHA share of originations2020: 6.9% FHA share of originations2021: 7.4% FHA share of originations2022: 8.6% FHA share of originations2023: 11.7% FHA share of originations2024: 13% FHA share of originations2018: 9.1% VA share2019: 10.4% VA share2020: 10.5% VA share2021: 10.8% VA share2022: 7.9% VA share2023: 8% VA share2024: 9.5% VA share2018201920202021202220232024
FHA-insured and VA-guaranteed shares of originations in South Dakota by year
YearApplicationsOriginationsAmountDenial rateFHAVARefinance share
201827,09318,962$3.4bn15.7%11.7%9.1%27.2%
201932,29322,574$4.6bn14.2%10.7%10.4%38.5%
202054,89240,206$9.3bn10.1%6.9%10.5%62.4%
202146,83033,059$8.0bn11.3%7.4%10.8%52.5%
202230,78621,331$5.7bn13.2%8.6%7.9%27.4%
202322,12615,010$3.9bn15.2%11.7%8.0%20.7%
202424,09115,896$4.1bn17.0%13.0%9.5%23.6%

Yearly figures from the HMDA Data Browser aggregations for the state (all reporters).

Loan purpose and loan type, 2024

By purpose

Home purchase 60% (9,543)Home improvement 9% (1,457)Refinancing 12% (1,947)Cash-out refinancing 11% (1,807)Other purpose 7% (1,142)

By type

Conventional 76% (12,112)FHA 13% (2,064)VA 9% (1,503)USDA 1% (217)

Counties

CountyApplicationsOriginationsPer 1,000 householdsDenial rateMedian spreadLenders
Minnehaha County6,7174,54953.615.9%0.243
Pennington County3,5292,31649.916.6%0.231
Lincoln County2,7301,88967.814.2%0.225
Meade County96859249.518.7%0.210
Lawrence County92858748.717.8%0.49
Codington County75752041.517.5%0.210
Brown County68248629.815.3%0.29
Brookings County71948134.915.8%0.35
Union County55137951.814.7%0.24
Davison County51135840.212.5%0.35
Yankton County50234135.217.1%0.25
Hughes County44627437.821.0%0.25
Clay County35121037.920.5%0.42
Lake County30621044.516.1%0.23
Custer County33420546.119.6%0.31
Butte County34119946.223.3%0.42
Turner County32019053.322.7%0.32
Fall River County29817748.722.3%0.52
Beadle County29816521.924.2%0.32
Hamlin County19813762.414.7%0.34
McCook County18612556.315.9%0.31
Grant County16210334.017.2%0.41
Moody County1539838.317.4%0.20
Hutchinson County1449633.022.6%0.10
Kingsbury County1428238.826.9%0.30
Roberts County1227019.321.9%0.60
Day County956929.115.1%0.50
Deuel County1076939.322.2%0.50
Charles Mix County835518.115.9%0.40
Walworth County865221.526.3%0.40
Bon Homme County945020.726.1%0.40
Hanson County734539.814.8%0.10
Stanley County744534.917.2%0.21
Douglas County743934.329.8%0.40
Gregory County653924.229.8%0.30
Clark County533828.416.7%0.20
Spink County623815.328.3%0.50
Hand County623726.320.8%0.40
Brule County593517.919.1%0.40
Miner County483537.614.6%—0
Potter County553532.825.0%0.80
Edmunds County513420.918.2%0.50
Aurora County443129.120.5%0.10
Marshall County452615.722.9%—0
Perkins County342216.826.7%—0
Tripp County37229.714.8%—0
Sully County412133.015.4%—0
Lyman County302016.822.2%—0
Sanborn County301819.030.8%—0
Faulk County191618.6——0
Haakon County301521.8——0
Jerauld County251519.1——0
Hyde County181223.9——0
Jackson County161214.5——0
Bennett County301112.0——0
Campbell County131013.3——0
Todd County1493.5——0
McPherson County1788.7——0
Harding County14714.1——0
Corson County1165.3——0
Dewey County1663.5——0
Oglala Lakota County1062.1——0
Mellette County846.2——0
Jones County212.9——0
Ziebach County100.0——0

By originations. Lenders: those with at least 25 applications in the county.

VA-guaranteed loans by month

VA publishes lender volume nationally, not by state; see the Aug 2026 VA lender table and the monthly series. The VA-guaranteed share of South Dakota originations by year is charted above from HMDA.

Questions and answers

Which mortgage lenders are most active in South Dakota?

By 2024 originations: Plains Commerce Bank (1,903), First Bank & Trust (980), Black Hills Federal Credit Union (958), First Premier Bank (866), Rocket Mortgage (602). 91 lenders had at least 25 applications in the state.

What is the mortgage denial rate in South Dakota?

17.0% of decided applications were denied in 2024, against 24.3% nationally. HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws.

How has mortgage lending in South Dakota changed since 2018?

Originations went from 18,962 in 2018 to 15,896 in 2024; the denial rate moved from 15.7% to 17.0%.

Where does this data come from?

From the public HMDA loan/application register (FFIEC and CFPB) for 2024, the HMDA Data Browser aggregations for 2018–2024, and Census Bureau household estimates.

Provenance

Source: HMDA public loan/application register 2022, 2023, 2024 and Data Browser aggregations 2018–2024 (FFIEC and CFPB, public domain); households from the Census Bureau ACS 2024 five-year estimates. Built 30 Sep 2026; data through 1 Aug 2026.