SDBA eNews

January 12, 2023

2023 SD Bank Directory Available

The SDBA’s 2023 South Dakota Bank Directories are now available.

The directory provides detailed information on all South Dakota banks, including addresses, telephone numbers, important contact names and additional pertinent information. The directory also contains information on the SDBA, banking associations, regulatory agencies, endorsed vendors, associate members and South Dakota officials.

All SDBA member banks and branches receive one complimentary directory. Associate members will receive a complimentary directory when they pay their 2023 membership dues.

Additional copies are available for purchase. The member cost is $35 plus tax for a single copy, or $30 each plus tax for multiple copies. The non-member cost is $50 plus tax for a single copy, or $45 each plus tax for multiple copies. Orders can be placed online at www.sdba.com/bank-directory or contact Haley Juhnke at [email protected] or 605.224.1653.

Any inaccuracies in the 2023 directory should be brought to the attention of the SDBA, and corrections will be made in the next edition. Banks will also receive a survey in the fall requesting current information.


Save the Date for the 2023 SDBA/NDBA Annual Convention!

We are looking forward to hosting bankers from across South Dakota and North Dakota for the 2023 SDBA/NDBA Annual Convention at the Sioux Falls Convention Center on June 4-6, 2023. We invite you to join us as we explore, “Where to Next?”

Exhibit, sponsor and advertising materials will be finalized later this month and the full agenda and registration materials will be available in March.

 View our Save the Date flier here.


SDBA to Monitor 2023 Legislative Session

The 2023 South Dakota Legislature opened on Tuesday with Gov. Noem's state of the state address.

Bankers can stay current on legislative issues of importance by reading or listening to a podcast of the SDBA’s weekly Legislative Update and reading the Legislative Bill Watch.

Publications will be distributed electronically each Friday during session and posted online. To receive the publications electronically, create a profile or log in to the SDBA’s website and select which publications you would like to receive.

The SDBA will hold its 2023 State Legislative Day on Feb. 15 in Pierre at the Ramkota Hotel & Conference Center. Attendees can reserve a room from the SDBA's hotel block through Jan. 18. Learn more and register to attend.

Questions, contact SDBA Communications Coordinator Haley Juhnke via email or call 605.224.1653.


Breaking into Banking 101: Fundamentals of Commercial Banking to be Held on February 23

Breaking into Banking 101: Fundamentals of Commercial Banking will be held virtually on February 23, 2023. This ten-module course is most appropriate for new credit analysts, lenders, and underwriters, as well as bankers who don’t do credit analysis but need a working knowledge of the process. This may include statement spreaders, loan processors and closers, treasury management associates, administrative support for credit or lending officers, branch managers, and interns. Learn more and register here


Registration Open for Dakota School of Banking

Registration is now open for the Dakota School of Banking, to be held June 11-16, 2023, in Jamestown, N.D. 

One of North Dakota’s longest-standing education traditions, Dakota School of Banking has graduated hundreds of bankers since its inception in 1974. Many of these graduates are now senior-level executives, serving as president or chief executive officers of banks large and small. Through the use of highly-qualified instructors and a challenging curriculum, the Dakota School of Banking provides a multi-dimensional educational experience in banking. By completing two one-week summer sessions and intersession projects, students develop a range of skills to enhance current performance and qualify them for advancement. The school is sponsored by North Dakota Bankers Association and endorsed by South Dakota Bankers Association.

The Dakota School of Banking provides bankers with:

  • A comprehensive understanding of the connections between banking functions
  • Increased knowledge and technical skills immediately applicable to daily responsibilities
  • Ideas to increase personal productivity and improve bank performance and profits
  • The opportunity to manage a successful financial institution through the BankExec simulation
  • A network of peers to call on throughout one’s career

Employees at nearly every level can benefit from the Dakota School of Banking.Many DSB applicants have been identified as future leaders within their institutions. Dakota School of Banking candidates are often:

  • Bankers looking for formal banking education
  • Bankers in middle-management looking to advance their banking career
  • Bankers looking to broaden their scope of expertise
  • Banking business partners who want a better understanding of the industry.

The typical student body is made up of branch managers, commercial lenders, operations personnel, compliance officers, tellers, security officers and bank directors.

Learn more and register here


USD Beacom School of Business Speed Networking Event to be Held on February 16

The Beacom School of Business - Career Success Center is hosting the 2023 Speed Networking event on Thursday, February 16 from 3-5pm. This is a great opportunity to come on-campus and network with students, especially May 2022 graduates and remaining summer internship seeking students. There is no cost to attend.

They will use a speed networking format where employers will have a table set up and small groups of students will rotate to tables in 10 minute intervals until about 4:30pm. The last 30 minutes of the event will be an open networking reception for you and students to visit more in depth. During your 10 minutes you are welcome share information about your company and any full-time, part-time, or internship opportunities that you may have available. At the event you are more than welcome to collect student contact information to keep in touch with them. Also, feel free to bring any recruitment materials and promotional items you’d like to share with students.

Would you be interested in participating in this event?  If so, please RSVP today! Registration is will close on Tuesday, February 7th.

Speed Networking Registration Link


CISA News: Security Incident Response Template

Do you have an Incident Response Plan? Consider using this document as the starting point for your organization. This was put together based on a variety of resources and experience. 

View the template here.


  Compliance Alliance logo

QUESTION OF THE WEEK

Q: Does RESPA require that we collect a cushion for escrow accounts? How large of a cushion must be collected?

A: RESPA allows you to have up to 2 months' cushion in an escrow account but doesn't *require* that you have 2 months' cushion.

"Cushion or reserve (hereafter cushion) means funds that a servicer may require a borrower to pay into an escrow account to cover unanticipated disbursements or disbursements made before the borrower's payments are available in the account, as limited by § 1024.17(c)." 12 CFR § 1024.17 https://www.consumerfinance.gov/rules-policy/regulations/1024/17/#7c9dd674f7d0217d08f86c841c3a1d971624ad52b89e42ceb2f84935

"...In addition, the servicer may add an amount to maintain a cushion no greater than one-sixth (1/6) of the estimated total annual payments from the account..." 12 CFR § 1024.17(c)(

Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call (888) 353-3933 or email [email protected] and ask for our Membership Team.

For timely compliance updates, subscribe to Bankers Alliance’s email newsletters.


 SDBA eNews Archive
View past issues of the SDBA eNews

Advertising Opportunity
Learn more about sponsoring the SDBA eNews.

Questions/Comments
Contact the SDBA at605.224.1653 or via email.