BankWest, Inc.
Pierre, South Dakota, Hughes County
$1.9B in total assets, the 634th largest of 4,309 US banks and 13th of 58 headquartered in South Dakota.
- FDIC certificate
- 4009
- Established
- 1889
- Owned by
- South Dakota Bancshares Inc
- Primary regulator
- FDIC
- Website
- www.bankwest-sd.com
At a glance
Compared with 16 banks headquartered in South Dakota with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This bank | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $1.9B | 38% | $2.2B | |
| Loans | $1.4B | 38% | $1.6B | |
| Deposits | $1.6B | 44% | $1.9B | |
| Return on assets | 0.76% | 12% | 1.44% | |
| Net interest margin | 4.01% | 50% | 3.95% | |
| Efficiency ratio | 79.8% | 88% | 58.5% | |
| Equity to assets | 8.26% | 6% | 10.60% | |
| Loans to deposits | 86% | 33% | 90% |
Growth
Total assets grew 5.8% a year over the last 5 years and 7.6% a year over 10 years, including 1 acquisition in the last 10 years.
Acquisitions
| Closed | Acquired bank | Assets at acquisition |
|---|---|---|
| Jul 2016 | First State Bank Armour, SD | $113M |
| Dec 1984 | The First National Bank of Selby Selby, SD | $22M |
| Jan 1982 | SULLY COUNTY BANK Onida, SD | n/a |
| Apr 1980 | Badlands State Bank Kadoka, SD | n/a |
| Apr 1980 | Vivian State Bank Vivian, SD | n/a |
Where they operate
22 branches in 15 counties.
Largest markets by deposits
| County | Deposits | Market share | Rank |
|---|---|---|---|
| Hughes County, SD | $671M | 40.2% | 1 of 5 |
| Davison County, SD | $120M | 10.4% | 4 of 8 |
| Gregory County, SD | $120M | 46.0% | 2 of 2 |
| Sully County, SD | $102M | 67.2% | 1 of 2 |
| Pennington County, SD | $101M | 3.1% | 8 of 10 |
| Lake County, SD | $88M | 17.7% | 3 of 6 |
Deposits by branch from the FDIC Summary of Deposits, June 2026. Rank among all banks with branches in that county.
Branch history since 2016
Net gain of 7 branches since 2016 (15 to 22, +46.7%). 4 opened, 4 acquired, 1 closed or sold.
| Period | What happened | Opened or acquired | Closed or sold | Net change | Branches at end |
|---|---|---|---|---|---|
| Start of 2016 | Starting point | 15 | |||
| 2016 | Acquired First State Bank | 4 | 0 | +4 | 19 |
| 2018 | Closed Vivian | 0 | 1 | −1 | 18 |
| 2019 | Opened Rapid City | 1 | 0 | +1 | 19 |
| 2020 | Opened Madison | 1 | 0 | +1 | 20 |
| 2022 | Opened Colman | 1 | 0 | +1 | 21 |
| 2023 | Opened Spearfish | 1 | 0 | +1 | 22 |
Balance sheet and earnings
Loans by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Agricultural | 22% | 7% | |
| Commercial real estate | 19% | 24% | |
| Farmland | 17% | 7% | |
| Construction and land | 11% | 6% | |
| Consumer | 9% | 13% | |
| Multifamily | 7% | 8% | |
| Business (C&I) | 7% | 19% | |
| 1-4 family residential | 7% | 12% | |
| Other | 2% | 4% |
Deposits by type
| Type | Share | This bank | Peers |
|---|---|---|---|
| Other interest-bearing | 59% | 42% | |
| Time deposits | 24% | 25% | |
| Noninterest-bearing | 17% | 33% |
Brokered deposits are 5.4% of deposits (peers 8.1%).
Return on assets
Trailing four quarters, with the peer median.
Credit and capital
| This bank | Peer median | |
|---|---|---|
| Noncurrent loans | 2.76% | 0.70% |
| Net charge-offs, annualized | -0.03% | 0.23% |
| Reserves to loans | 1.08% | 1.25% |
| Leverage ratio | 9.21% | 10.39% |
Noncurrent loans exclude government-guaranteed portions.
Related banks
Similar size in South Dakota
Largest competitors in Hughes County, SD
Figures as of June 30, 2026 from the bank's Call Report, FDIC structure and branch data, and the Federal Reserve. Short link: bankingstats.com/banks/bankwest-pierre-sd