BankWest, Inc. in Pierre, South Dakota (SD)
Overview, Financial Summary, Detailed Financial Reports, Branches

BankWest, Inc. - Overview

  • General
  • FDIC Certificate #: 4009
    Status: Active
    Federal Reserve ID: 540551
    Bank Holding Company (Regulatory Top Holder): South Dakota Bancshares, Inc. (RSSDID: 1124060, Location: Pierre, SD)
    Date Established: August 30, 1889
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 14 (Domestic: 13, Interstate: No)
    OTS Docket #: 11916
    FDIC's unique #: 2598
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Agricultural lending institution: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: Yes
    Asset Concentration Hierarchy: Agricultural Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: 420 South Pierre Street, Pierre, SD 57501
    County: Hughes
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux Falls
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Pierre, SD (#38180)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $739.9 mil
    Equity capital: $68.3 mil
    Deposits held in domestic offices: $615.4 mil
    Return on assets (ROA): 1.29% ($9.5 mil)
    Quarterly return on assets: 1.49% ($11.0 mil)
    Return on Equity (ROE): 14.58% ($9.9 mil)
    Quarterly return on equity: 16.36% ($11.1 mil)
    Net income: $9.5 mil
    Quarterly Net income: $2.8 mil
    Pretax return on assets: 1.35% ($9,988.7 mil)
    Quarterly Pretax return on assets: 1.58% ($11,690.5 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 221Total employees (full-time equivalent)
  • $739,907Total assets
  • $44,963Cash and due from depository institutions
  • $31,180Interest-bearing balances
  • $101,311Securities
  • $0Federal funds sold & reverse repurchase agreements
  • $545,304Net loans & leases
  • $8,795Loan loss allowance
  • $0Trading account assets
  • $14,468Bank premises and fixed assets
  • $12,190Other real estate owned
  • $737Goodwill and other intangibles
  • $739,907Life insurance assets
  • $20,934All other assets
  • $671,646Total liabilities and capital
  • $615,359Total liabilities
  • $515,621Total deposits
  • $615,359Interest-bearing deposits
  • $91Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $49,900Trading liabilities
  • $0Other borrowed funds
  • $6,387Subordinated debt
  • $68,261All other liabilities
  • $68,261Total equity capital
  • $68,261Total bank equity capital
  • $0Perpetual preferred stock
  • $2,000Common stock
  • $44,500Surplus
  • $21,761Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $2,053Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $3,588Income earned, not collected on loans
  • $0Earning assets
  • $8,583Long-term assets (5+ years)
  • $677,795Average Assets, year-to-date
  • $322,240Average Assets, quarterly
  • $740,822Volatile liabilities
  • $740,028Insider loans
  • $593,427FHLB advances
  • $738,336Loans and leases held for sale
  • $3,076Unused loan commitments
  • $1,168Tier 1 (core) risk-based capital
  • $69,456Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $1,908Total unused commitments
  • $80,333Restructured Loans and leases
  • $298Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $43,571Total interest income
  • $9,869Total interest expense
  • $33,702Net interest income
  • $3,080Provision for loan and lease losses
  • $6,979Total noninterest income
  • $1,068Fiduciary activities
  • $1,288Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,623Additional noninterest income
  • $26,459Total noninterest expense
  • $16,007Salaries and employee benefits
  • $3,376Premises and equipment expense
  • $7,076Additional noninterest expense
  • $11,142Pre-tax net operating income
  • -$1,127Securities gains (losses)
  • $483Applicable income taxes
  • $9,532Income before extraordinary items
  • $0Extraordinary gains - net
  • $9,532Net income attributable to bank
  • $0Net charge-offs
  • $9,532Cash dividends
  • $1,604Sale, conversion, retirement of capital stock, net
  • $7,285Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 6.42%Yield on earning assets
  • 1.46%Cost of funding earning assets
  • 4.97%Net interest margin
  • 1.03%Noninterest income to earning assets
  • 3.90%Noninterest expense to earning assets
  • 1.43%Net operating income to assets
  • 1.29%Return on assets (ROA)
  • 1.35%Pretax return on assets
  • 14.58%Return on equity (ROE)
  • 3.44%Retained earnings to average equity (YTD only)
  • 0.29%Net charge-offs to loans
  • 192.02%Credit loss provision to net charge-offs
  • 8.87%Efficiency ratio
  • 64,947Assets per employee
  • 3.35%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 76.43%Loss allowance to loans
  • 1.59%Loss allowance to noncurrent loans
  • 245.12%Noncurrent assets plus other real estate owned to assets
  • 2.13%Noncurrent loans to loans
  • 0.65%Net loans and leases to deposits
  • 88.62%Net loans and leases to core deposits
  • 104.89%Equity capital to assets
  • 9.23%Core capital (leverage) ratio
  • 9.41%Tier 1 risk-based capital ratio
  • 11.70%Total risk-based capital ratio
  • Memoranda
  • $13Average assets
  • $740,822Average earning assets
  • $65,392Average equity
  • $678,264Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $312,284Managed Assets
  • 1Number of Accounts
  • $109,092Personal trust and agency accounts
  • $49,205Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $6,800Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $34,237Other fiduciary accounts
  • $18,850Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 411Number of Accounts
  • $0Personal trust and agency accounts
  • $6,800Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $203,192Other retirement accounts
  • $196,955Corporate trust and agency accounts
  • $302Other fiduciary accounts
  • $4,177Fiduciary accounts held in foreign offices

List of branches

  • 14 South Dakota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    02598Bankwest, Inc.420 South Pierre Street, Pierre, SD 57501August 30, 1889Full Service Brick and Mortar
    1202199Capitol Avenue Branch107 South Highland Avenue, Pierre, SD 57501October 18, 1966Full Service Brick and Mortar
    2762Kadoka Branch310 Main Street, Kadoka, SD 57543March 02, 1907Full Service Brick and Mortar
    41098Vivian Branch137 South Main Street, Vivian, SD 57576January 02, 1909Full Service Brick and Mortar
    613693Onida Branch101 Main Street, Onida, SD 57564July 15, 1963Full Service Brick and Mortar
    7208686Kennebec Branch213 S. Main St., Kennebec, SD 57544August 01, 1969Full Service Brick and Mortar
    82600Bankwest Branch4400 Main Street, Selby, SD 57472January 01, 1906Full Service Brick and Mortar
    9233574Gregory Branch615 Main Street, Gregory, SD 57533August 24, 1936Full Service Brick and Mortar
    10202200Harrison Hill Branch1611 North Harrison, Pierre, SD 57501March 17, 1998Full Service Brick and Mortar
    12360149Mobile Branch420 South Pierre Street, Pierre, SD 57501November 28, 2000Limited Service Mobile
    13360292Winner Branch110 West 2nd Street, Winner, SD 57580June 01, 2001Full Service Brick and Mortar
    14364290Mitchell Branch2100 Highland Way, Mitchell, SD 57301July 16, 2002Full Service Brick and Mortar
    15426588Rapid City Branch311 Omaha Street, Rapid City, SD 57701March 08, 2004Full Service Brick and Mortar
    16528444Mitchell - Sanborn Blvd1920 North Sanborn Boulevard, Mitchell, SD 57301Febuary 01, 2012Full Service Brick and Mortar

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