Western Dakota Bank

What Western Dakota Bank does

Western Dakota Bank is a privately held, FDIC-insured community bank headquartered in Timber Lake, South Dakota, operating three branches across rural Dewey and Ziebach counties (Timber Lake, Isabel, and Eagle Butte). The institution traces its origin to Glencross State Bank, founded July 1, 1919, merged with The Bank of Timber Lake in 1935 under the name Dewey County Bank, and was rebranded as Western Dakota Bank in 1997 to reflect a broader regional identity.

The bank's product portfolio spans the standard retail and small-business banking stack: deposit products including Regular Checking, Super NOW Checking, Money Market Checking, Student Checking, and Passbook Savings; time deposits (CDs) and Individual Retirement Accounts (IRAs) with a $100 opening minimum; safe deposit boxes; the Advantage ATM & Debit Checkcard providing surcharge-free access to a wider ATM network; and a lending suite covering personal loans, home improvement loans, auto loans, real estate loans, commercial loans, and agricultural loans. The lending menu — particularly agricultural loans for farm operations, equipment, and land — is the defining specialty of the franchise and reflects the rural, farming-heavy customer base. Digital channels are minimal but functional: free internet banking with bill pay and a business cash management module, plus a suite of online financial calculators (mortgage amortization, refinance breakeven, Roth vs. Traditional IRA, retirement planner, millionaire calculator), exposed through a content-managed website. There is no native mobile banking app, no open APIs, no SDK, and no disclosed third-party integrations beyond an OrderMyChecks check-reordering link.

Western Dakota Bank operates a traditional community banking revenue model: net interest income on the lending book (spanning consumer, commercial, real estate, and agricultural credits) is the primary revenue engine, supplemented by deposit-account fees, ATM and debit interchange, and incidental transaction fees. Go-to-market is relationship-led and geographically constrained, with sales and account opening handled in-branch across the three locations. The customer base is horizontally segmented into individual consumers (primary), agricultural operators (primary), local small businesses (secondary), and students (secondary), with no named enterprise or commercial anchor customers and no public revenue, asset, or deposit disclosure available for outside estimation.

Name

Western Dakota Bank

Legal name

Western Dakota Bank

Website

https://westerndakotabank.com

Company type

Private

Founded year

1919

Operating status

Operating

Headcount range

11–50 employees

Short description

Western Dakota Bank is a privately held community bank, founded in 1919 and headquartered in Timber Lake, South Dakota. It operates three branches (Timber Lake, Isabel, Eagle Butte) and serves local consumers, farmers, and small businesses with deposit accounts, consumer and agricultural lending, and basic internet banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Community banking services
• Agricultural lending
• Personal deposit accounts
• Commercial lending
• Internet banking

Headquarters

HQ city

Timber Lake

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Traditional bank interest income from lending activities including personal loans, commercial loans, agricultural loans, real estate loans, and auto loans. Interest earned on Certificates of Deposit and Individual Retirement Accounts.
2. Deposit Account Fees: Fee income from deposit accounts including checking and savings accounts. ATM and debit card usage fees.
3. Internet Banking Services: Online banking services including bill payment functionality. Free basic internet banking for customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels2 records

Core offering

Western Dakota Bank is a community bank offering deposit products (checking, savings, money market, CDs, IRAs, safe deposit boxes), consumer and commercial lending (personal, auto, home improvement, real estate, agricultural, and commercial loans), and digital banking services including free internet banking and bill pay. The bank serves individuals, agricultural customers, and small businesses across its three South Dakota branch locations.

Product overview

Western Dakota Bank offers a comprehensive community banking platform providing deposit products (Regular Checking, Super NOW Checking, Money Market Checking, Student Checking, Passbook Savings), lending services (Personal, Commercial, Home Improvement, Auto, Real Estate, and Agricultural Loans), and digital banking solutions (free Internet Banking, Bill Pay, and Cash Management for businesses). The bank also provides complementary financial tools including online calculators and services such as the Advantage ATM & Debit Checkcard, Certificates of Deposit, Individual Retirement Accounts, and Safe Deposit Boxes. The product portfolio is centered on traditional community banking with digital enhancements for convenience.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Checking A standard checking account for everyday banking transactions, offered to individual consumers.
• Super NOW Checking A checking account with negotiable order of withdrawal features that combines checking and savings benefits for individual consumers.
• Money Market Checking A checking account that typically earns interest on higher balances with limited check-writing privileges, for individual consumers.
• Student Checking A checking account designed for students, typically with lower fees or special terms.
• Passbook Savings A traditional savings account where interest is recorded in a passbook, allowing customers to track their deposits and withdrawals.
• Advantage ATM & Debit Checkcard A debit card enabling customers to pay daily expenses and monthly bills from their checking account, with worldwide ATM access and surcharge-free access to hundreds of ATMs.
• Certificates of Deposit Time deposits offering competitive interest rates, with fixed rates until maturity and interest payable at maturity, quarterly, semi-annually, or annually. FDIC insured up to $250,000 per depositor.
• Individual Retirement Accounts (IRA) Retirement savings accounts requiring a minimum $100 deposit to open, FDIC insured up to $250,000 per depositor.
• Safe Deposit Boxes Secure storage boxes available in various sizes for protecting valuables at branch locations.
• Personal Loans Loans for individual financial needs including debt consolidation, major purchases, or unexpected expenses.
• Commercial Loans Business financing solutions for operational needs, equipment purchases, or business expansion, for local small businesses.
• Home Improvement Loans Financing for home renovation and improvement projects for individual borrowers.
• Auto Loans Financing for purchasing vehicles, available for new or used automobiles, for individual borrowers.
• Real Estate Loans Mortgage and real estate financing solutions for purchasing or refinancing properties.
• Agricultural Loans Specialized financing for farmers and agricultural operations, including farm equipment, land purchases, and operating capital.
• Internet Banking Free online banking platform offering 24/7 access to account history, fund transfers between Western Dakota Bank accounts, and loan payments.
• Bill Pay Online bill payment service allowing customers to pay bills electronically without checks, stamps, or envelopes, with bill pay history tracking.
• Cash Management Online banking services for businesses, providing advanced cash management capabilities tailored for small business and commercial customers.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Plains Commerce Bank: South Dakota-based community bank providing commercial, agricultural, and consumer banking. Comparable as a SD-focused community bank with a similar ag-lending and small-business proposition.
• Commercial State Bank: South Dakota-based community bank with branch presence in smaller SD towns. Comparable as a privately held SD community bank with an agricultural and consumer banking focus serving rural communities.
• Dacotah Bank: Aberdeen, South Dakota-based community bank offering commercial, agricultural, mortgage, and consumer banking across the state. Directly comparable as a SD-focused community bank with strong agricultural lending and branch-based distribution.
• First Dakota National Bank: Yankton, South Dakota-based community bank offering full-service community banking including ag, commercial, and consumer lending. Directly comparable due to SD focus, agricultural lending expertise, and community-bank structure.
• Farmers State Bank: Independent South Dakota community bank with deep roots in rural ag communities. Closely comparable as a small, privately held SD community bank with agricultural, consumer, and small-business lending.
• First Bank & Trust: South Dakota-headquartered community bank providing personal, business, and agricultural banking products. Comparable as a SD-rooted community bank serving similar rural customer segments with comparable deposit and lending products.
• Great Plains Bank: South Dakota community bank with a network of branches across the state. Directly comparable given its SD-only footprint, community-bank positioning, and similar deposit and ag/consumer lending menu.
• CorTrust Bank: Sioux Falls, South Dakota-based community bank with branches statewide, providing deposit, lending, and treasury products. Comparable as a SD community bank serving individuals, businesses, and agricultural customers with a similar product mix.

Regional players

• Black Hills Federal Credit Union: South Dakota-headquartered credit union serving members throughout western SD. Comparable as a SD-based, member-owned depository institution offering similar consumer deposit, lending, and digital banking products to a similar geography.
• Sentinel Federal Credit Union: South Dakota-based credit union providing deposit and consumer lending services. Comparable because it is a SD-rooted, member-owned depository competing in many of the same consumer banking categories and rural-adjacent geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/western-dakota-bank

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Western Dakota Bank