The South Dakota Bankers Association (SDBA), the professional and trade association for South Dakota’s financial services industry since 1884, recently held elections for three of the nine seats on its Board of Directors. Elected to serve on the SDBA Board of Directors were:

  • Steve Bumann, Chief Financial Officer, BankWest, Pierre
  • Craig Davis, President/CEO, First National Bank, Pierre
  • Shawn Rost, South Dakota Market President, First Interstate Bank, Rapid City

This is Davis’ first term on the SDBA Board of Directors and Bumann and Rost’s second terms. They started their three-year terms on May 1, 2017.

Steve Bumann:

Steve Bumann is the chief financial officer (CFO) for BankWest in Pierre, where he has worked for 33 years. After graduating from the University of South Dakota with an accounting degree in 1975, Bumann worked for the Department of Legislative Audit in Pierre for two years. After passing the CPA exam, he next worked for a local CPA firm for seven years. He began working at BankWest in 1984 as vice president of finance.

Bumann is heavily involved in activities at Community Bible Church, serves on Avera St. Mary’s Foundation Board, and is an active member and past president of the Pierre Area Chamber of Commerce. He also served on the Pierre School Board for seven years in the 1990s.

Bumann and his wife, Deb, have been married for 33 years. They have four grown children: Aaron, Michael, Brian and Elizabeth.

Banking in general and community banking in particular are in danger of being regulated out of existence, and Bumann wants to work hard to protect the future of banking. He would like to see community banking continue to provide tremendous career opportunities for youth.

Craig Davis:
Craig Davis is the president/CEO of First National Bank in Pierre. After graduating from the University of Nebraska-Lincoln with a finance degree in 1991, he worked briefly for ITI (now known as FiServ) in Lincoln. He returned to Pierre in late 1991 and began his career with First National Bank as a loan review officer. Davis was later promoted to commercial lending and also served as the bank’s senior credit officer. Davis was named president/CEO in 2010.

Davis has been very involved in his community. He is a past president of the Pierre Area Chamber of Commerce and a past board member of the Pierre Economic Development Corporation, the Boys and Girls Club, Junior Achievement and the United Way. Davis is currently a seven-year board member of the Oahe Hockey Association and serves as the director of league play/scheduling.

Davis and his wife, Beth, have two children: Caden, age 16, and Avery, age 14, both in the Pierre School District.

Davis wants to work to find a way to ensure that community banks of all sizes in South Dakota are viable now and well into the future and also wants to help invoke change in the regulatory arena. He also looks forward to networking with fellow SDBA members.

Shawn Rost:
Shawn Rost has worked for First Interstate Bank (formerly First Western Bank) for 25 years. He first worked at the bank as an intern during his last semester at Black Hills State University, where he graduated with a degree in business administration. He was hired a year later as a consumer loan officer in Spearfish. Rost was promoted to Deadwood branch president in 2000 and was named Northern Hills market president and Sturgis market president in March 2013. In April 2016, Rost became the Rapid City market president and was recently named South Dakota market president.

Rost is on the board of the Northern Hills Training Center in Spearfish. He is past president of the Deadwood Chamber of Commerce and a past officer of Neighbor Works Dakota Home Resources, Deadwood Economic Development, Dakota Land Trust and many other non-profit organizations.

Rost and his wife, Susan, have three children: Hunter, a senior at the University of Wyoming; Tanner, a sophomore at Arizona State University; and Traven, a first grader in Rapid City.

Rost looks forward to continuing to work with bankers along with our congressional delegation to find ways to modify the Dodd Frank Act. He also wants to work at leveling the playing field for all banks when it comes to taxation.

Through the SDBA, hundreds of South Dakota bankers volunteer each year to serve on SDBA boards, committees and task forces to educate the state’s consumers and promote financial literacy.