Department of Labor and Regulation

Title - Banking

Banking Commission Activity Reports

July 2014
Trusts
James R. Wefso, Gregory A. Hunter, Robert Wentz, Thomas C. Smith, John L. Decker Jr., and Todd W. Peterson to establish Dakota Guardian Trust Company, LLC, a nondepository public trust company, at 805 5th Street, Rapid City SD 57701
Approved
Pierce McDowell III, David Peterson and Matthew Tobin to establish Summer Street Trust Company, LLC, a nondepository private trust company, at 201 S. Phillips Avenue, Suite 130, Sioux Falls, SD 57104.
Approved
Jeff Jones, Jennifer Benson and Bonny Hansen to establish FNN Trust Company South Dakota, LLC, a Nondepository Public Trust Company, at 210 North Lawler, Mitchell, South Dakota 57301, and a Trust Service office at 70 2nd Street Southwest, Huron, South Dakota 57350.
Approved
Corundum Trust Company, LLC a conversion from LLC to a Corporation.
Approved
Beneco Trust Company, LLC to establish a Trust Service Office at 9089 East Bahia Drive, Suite 100, Scottsdale, AZ 85260
Pending
Banks
First State Bank of Roscoe - Application of relocate from 201 N Mitchell Street, Roscoe, South Dakota to 202 N Mitchell Street, Roscoe, South Dakota
Approved
American State Bank Oldham - Application for Change in Control by Frank L Farrar.
Pending
Great Western Bank - Application to establish a branch bank in Greeley Colorado.
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in July are as follows:
Money Lending 
8
Money Transmitter
3
Mortgage Brokerage
0
Mortgage Lender 
4
Non-Residential Mortgage Lender
3
Mortgage Loan Originator
50
Licenses cancelled in July are as follows: 
Money Lending 
7
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender
1
Non-Residential Mortgage Lender
2
Mortgage Loan Originator
17
Current number of active licenses:    
Money Lending 
399
Money Transmitter
56
Mortgage Brokerage
14
Mortgage Lender
214
NR Mortgage Lender for Insurance Company
30
Mortgage Loan Originator
1683
Total
2,396
June 2014
Trusts
South Dakota Trust Company, LLC to establish a trust service office at 4020 Jackson Boulevard, Suite 1, Rapid City, South Dakota
Approved
Jeff Jones, Jennifer Benson and Bonny Hansen to establish First Trust Company South Dakota, LLC, a nondepository public trust company, at 210 North Lawler, Mitchell, South Dakota 57301, and a trust service office at 70 2nd Street Southwest, Huron, South Dakota 57350
Approved
Expedition Trust Company to establish a trust service office 310 4th Street NE, Suite 102, Charlottesville, VA 22903
Approved
James R. Wefso, Gregory A. Hunter, Robert Wentz, Thomas C. Smith, John L. Decker Jr., and Todd W. Peterson to establish Dakota Guardian Trust Company, LLC, a nondepository public trust company, at 805 5th Street, Rapid City SD 57701
Pending
Pierce McDowell III, David Peterson and Matthew Tobin to establish Summer Street Trust Company, LLC, a nondepository private trust company, at 201 S. Phillips Avenue, Suite 130, Sioux Falls, SD 57104.
Pending
Beneco Trust Company, LLC to establish a Trust Service Office at 9089 East Bahia Drive, Suite 100, Scottsdale, AZ 85260
Pending
Banks
First State Bank of Roscoe - Application of relocate from 201 N Mitchell Street, Roscoe, South Dakota to 202 N Mitchell Street, Roscoe, South Dakota
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in June are as follows:
Money Lending 
6
Money Transmitter
8
Mortgage Brokerage
0
Mortgage Lender 
1
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
21
Licenses cancelled in June are as follows: 
Money Lending 
10
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender
1
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
35
Current number of active licenses:    
Money Lending 
354
Money Transmitter
51
Mortgage Brokerage
14
Mortgage Lender
220
NR Mortgage Lender for Insurance Company
30
Mortgage Loan Originator
1674
Total
2,257
May 2014
Trusts
PAI Trust Company, Inc. – Application to relocate from 300 South Phillips Avenue, Suite 202, Sioux Falls, South Dakota to 3904 West Technology Circle, Suite 104, Sioux Falls, South Dakota
Approved
South Dakota Trust Company, LLC to establish a trust service office at 4020 Jackson Boulevard, Suite 1, Rapid City, South Dakota
Pending
Jeff Jones, Jennifer Benson and Bonny Hansen to establish First Trust Company South Dakota, LLC, a nondepository public trust company, at 210 North Lawler, Mitchell, South Dakota, and a trust service office at 70 2nd Street Southwest, Huron, South Dakota
Pending
Expedition Trust Company to establish a trust service office 310 4th Street NE, Suite 102, Charlottesville, VA
Pending
Banks
No activity to report.  
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in May are as follows:
Money Lending 
4
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender 
4
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
67
Licenses cancelled in May are as follows: 
Money Lending 
1
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender
0
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
41
Current number of active licenses:    
Money Lending 
401
Money Transmitter
51
Mortgage Brokerage
14
Mortgage Lender
241
NR Mortgage Lender for Insurance Company
10
Mortgage Loan Originator
1,540
Total
2,257
April 2014
Trusts
PAI Trust Company, Inc. – Application to relocate from 300 South Phillips Avenue, Suite 202, Sioux Falls, South Dakota to 3904 West Technology Circle, Suite 104, Sioux Falls, South Dakota
Pending
Banks
No activity to report.  
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in April are as follows:
Money Lending 
2
Money Transmitter
0
Mortgage Brokerage
1
Mortgage Lender 
6
Non-Residential Mortgage Lender
5
Mortgage Loan Originator
97
Licenses cancelled in April are as follows: 
Money Lending 
3
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender
0
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
45
Current number of active licenses:    
Money Lending 
398
Money Transmitter
51
Mortgage Brokerage
14
Mortgage Lender
207
NR Mortgage Lender for Insurance Company
30
Mortgage Loan Originator
1,510
Total
2,210
March 2014
Trusts
   
Banks
American Bank & Trust, Wessington Springs, SD to merge with and into American State Bank, Pierre, SD
Approved
March 10, 2014
Great Western Bank, Watertown, SD to establish a branch bank at 600 Pierce Street, Sioux City, Iowa
Approved
March 20, 2014
BankStar Financial, Elkton, SD to merge First National Bank of Volga, SD with and into BankStar Financial, Elkton, SD with BankStar Financial as the surviving institution and to consolidate two Brookings locations into one location at 427 8th Street South, Brookings, SD
Approved
March 17, 2014
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in March are as follows:
Money Lending 
3
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender 
2
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
112
Licenses cancelled in March are as follows: 
Money Lending 
0
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender
0
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
1
Current number of active licenses:    
Money Lending 
400
Money Transmitter
51
Mortgage Brokerage
13
Mortgage Lender
201
NR Mortgage Lender for Insurance Company
25
Mortgage Loan Originator
1,462
Total
2,152
February 2014
Trusts
Mariner Trust Company, LLC – Application to establish a Trust Service Office at 4200 West 115th Street, Suite 100, Leawood, KS
Approved
February 18, 2014
Banks
Plains Commerce Bank – Application to establish a branch bank in Bismarck, ND
Approved
February 4, 2014
American Bank & Trust, Wessington Springs, SD to merge with and into American State Bank, Pierre, SD
Pending
Great Western Bank, Watertown, SD to establish a branch bank at 600 Pierce Street, Sioux City, Iowa
Pending
BankStar Financial, Elkton, SD to merge First National Bank of Volga, SD with and into BankStar Financial, Elkton, SD with BankStar Financial as the surviving institution and to consolidate two Brookings locations into one location at 427 8th Street South, Brookings, SD
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in February are as follows:
Money Lending 
5
Money Transmitter
2
Mortgage Brokerage
0
Mortgage Lender 
2
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
30
Licenses cancelled in February are as follows: 
Money Lending 
1
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender
0
Non-Residential Mortgage Lender
0
Mortgage Loan Originator
2
Current number of active licenses:    
Money Lending 
397
Money Transmitter
51
Mortgage Brokerage
13
Mortgage Lender
199
NR Mortgage Lender for Insurance Company
25
Mortgage Loan Originator
1,350
Total
2,035
January 2014
Trusts
Dorsey & Whitney Trust Company LLC - Application to establish a Trust Service Office at 305 Lytton Avenue, Palo Alto, California
Approved
January 15, 2014
Expedition Trust Company - Application to establish a nondepository public trust company at 330 S. Poplar Avenue, Suite 103-K, Pierre, SD
Approved
January 16, 2014
Hamilton Trust Company of South Dakota LLC - Application to establish a nondepository public trust company at 201 S. Phillips Ave., Suite 124, Sioux Falls, SD
Approved
January 21, 2014
MadisonTrust Company, Inc. – Application to establish a nondepository public trust company at 401 East 8th Street, Suite 200P, Sioux Falls, SD
Approved
January 23, 2014
Sterling Trustees, LLC – Application to relocate from 201 S. Philips Avenue, Suite 222, Sioux Falls, SD to 101 S. Main Street, Suite 310, Sioux Falls, SD
Approved
January 24, 2014
Mariner Trust Company, LLC – Application to establish a Trust Service Office at 4200 West 115th Street, Suite 100, Leawood, KS
Pending
Banks
First Bank & Trust, Sioux Falls - Application to establish a loan production office at 1400 Washington Avenue North, Madison, SD
Approved
January 7, 2014
1st Financial Bank USA - Application to establish a loan production office at 55 East 59th Street, Floor 6, New York, NY
Approved
January 6, 2014
Minnwest Bank, M.V. Redwood Falls, Minnesota - Application to merge Minnwest Bank Sioux Falls, Sioux Falls, South Dakota with and into Minnwest Bank, M.V., Redwood Falls, Minnesota
Approved
January 15, 2014
Plains Commerce Bank – Application to establish a branch bank in Bismarck, ND
Pending
Licensees (Non-Profits are now included with Money Lending or Mortgage Lender)
New licenses issued in January are as follows:
Money Lending 
0
Money Transmitter
0
Mortgage Brokerage
0
Mortgage Lender 
6
Non-Residential Mortgage Lender
1
Mortgage Loan Originator
71
Licenses cancelled in January are as follows: 
Money Lending 
2
Money Transmitter
1
Mortgage Brokerage
4
Mortgage Lender
7
Non-Residential Mortgage Lender
2
Mortgage Loan Originator
312
Current number of active licenses:    
Money Lending 
395
Money Transmitter
48
Mortgage Brokerage
13
Mortgage Lender
197
NR Mortgage Lender for Insurance Company
25
Mortgage Loan Originator
1,322
Total
2,000

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Marcia Hultman, Secretary
700 Governors Drive
Pierre, SD 57501-2291
Tel. 605.773.3101
Fax. 605.773.6184