Applications / Mortgage Analytics / Lenders / South Dakota / BankWest
Pierre, SD · State non-member bank · FDIC · $1.9 billion assets · 650 loans in 2025
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650
loans originated, 2025
1,776
applications, 2025
10
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
BankWest is a South Dakota bank for which manufactured homes made up about half of its loans in 2025, far more than at similar lenders.
Manufactured homes made up 49.8% of its loans, against 1.6% at similar lenders (state non-member banks making between half and twice as many loans), the highest share in the group. Its typical loan was $125,000, against $195,000, and 76.9% of its lending was for home purchase.
52.0% of its loans were higher-priced (a rate well above the average for similar loans), against 1.6% at similar lenders, and its typical rate was 8.00%, against 6.70%. Manufactured-home loans, half its lending, usually carry higher rates than loans on site-built homes and could account for most of the difference.
42.7% of its loans went to low- and moderate-income (LMI) borrowers, against 26.3%, higher than nine in ten similar lenders and up from 32.3% five years before. Lower-cost manufactured homes are one possible reason.
Its share rose from 0.3% to 1.3% in Sioux Falls and fell from 6.0% to 1.3% in Rapid City, where it ranked 20 of 181 and CMG Mortgage led; a shift of its lending toward Sioux Falls is one possibility. It ranked 4 of 239 in non-metro South Dakota. Its loans rose 2%, against 9% at similar lenders.
Questions the data can answer next
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
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. BankWest took 1,776 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 76.9% · Refinance 13.5% · Home improvement 5.8% · Other 3.7%
Conventional 88.2% · FHA 8.3% · USDA (RHS or FSA) 2.6% · VA 0.9% · of 650 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
| State | Loans | Share |
|---|---|---|
| South Dakota | 494 | 76.0% |
| Minnesota | 93 | 14.3% |
| North Dakota | 25 | 3.8% |
| Montana | 10 | 1.5% |
| Nebraska | 10 | 1.5% |
| Wyoming | 9 | 1.4% |
| Iowa | 6 | 0.9% |
| Colorado | 1 | 0.2% |
| Indiana | 1 | 0.2% |
| Maine | 1 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Rapid City | 90 |
| Minneapolis-St. Paul-Bloomington | 58 |
| Sioux Falls | 50 |
| Mankato | 6 |
| Duluth | 5 |
| Grand Forks | 3 |
| Ames | 2 |
| Bismarck | 2 |
| Fargo | 2 |
| Helena | 2 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493007YN2BYYXCI7W64 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 540551 | 2005–2023 |
| Respondent ID (the HMDA filer code before 2018) | 34009 | 2005–2017 |
Established 30 August 1889. Reported under HMDA 2005-2025.
Mergers, name changes, data editions and corrections: BankWest's data.
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