First in non-metro South Dakota
It ranked 1 of 239 lenders in non-metro South Dakota, where it has lent since 1995. It also lends in Minnesota, ranking 103 of 688 in Minneapolis-St. Paul-Bloomington.
Applications / Mortgage Analytics / Lenders / South Dakota / First Bank & Trust
First Bank & Trust
Brookings, SD · State non-member bank · FDIC · $4.7 billion assets · 1,306 loans in 2025
First Bank & Trust's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
1,306
loans originated, 2025
1,868
applications, 2025
13
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First Bank & Trust is a South Dakota home-purchase lender that ranked first of 239 lenders in non-metro South Dakota in 2025, though its originations fell 4% in a year when similar banks grew.
A smaller year while peers grew
Originations fell 4% to 1,306, among the lowest sixth of similar lenders (state non-member banks making between half and twice as many loans), whose typical growth was 10%. In Sioux Falls it ranked 5 of 204, but its share fell to 4.8% from 7.1%, with Plains Commerce Bank first, which may account for part of the fall. The data do not say why; competitors lending more there, or its own lending shifting to other markets, are possibilities.
More government-backed and LMI lending
Home purchases were 56.0% of its loans. Loans insured by the Federal Housing Administration (FHA) were 7.0%, against 2.2% at peers, and loans guaranteed by the Department of Veterans Affairs (VA) 2.5%, against 0.6%. Low- and moderate-income (LMI) borrowers took 34.3%, higher than about four in five peers, whose typical share was 27.3%.
Few loans in majority-minority areas
Majority-minority areas took 0.4% of its loans, against 7.6% at peers, among the lowest. Its largest markets are in South Dakota, Minnesota and Iowa, and the make-up of those areas is one possible reason; its 10.8% share in LMI areas, lower than peers' 15.0%, may reflect the same footprint.
Questions the data can answer next
- Which lenders gained share in Sioux Falls in 2025, and in which counties?
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
1,306 loans in 2025, against a peak of 2,849 in 2021.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. First Bank & Trust took 1,868 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
56.0% of its 2025 loans were purchase loans; 89.8% were Conventional.
Purchase 56.0% · Refinance 18.4% · Home improvement 16.1% · Other 9.5%
Conventional 89.8% · FHA 7.0% · VA 2.5% · USDA (RHS or FSA) 0.6% · of 1,306 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
13 states, 18 metros, 94 counties
| State | Loans | Share |
|---|---|---|
| South Dakota | 972 | 74.4% |
| Minnesota | 302 | 23.1% |
| Iowa | 12 | 0.9% |
| Wisconsin | 8 | 0.6% |
| Arizona | 3 | 0.2% |
| Nebraska | 2 | 0.2% |
| California | 1 | 0.1% |
| Georgia | 1 | 0.1% |
| Kansas | 1 | 0.1% |
| Montana | 1 | 0.1% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Sioux Falls | 427 |
| Minneapolis-St. Paul-Bloomington | 183 |
| Sioux City | 7 |
| St. Cloud | 4 |
| Duluth | 2 |
| Omaha | 2 |
| Phoenix-Mesa-Chandler | 2 |
| Rapid City | 2 |
| Billings | 1 |
| Cedar Rapids | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300IQ5NY7CSJLZW53 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 77851 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 33973 | 2004–2017 |
Established 2 November 1925. Reported under HMDA 2004-2025.
Mergers, name changes, data editions and corrections: First Bank & Trust's data.
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