Black Hills Community Bank

Name

Black Hills Community Bank

Legal name

Black Hills Community Bank, N.A.

Website

https://bhcbank.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking services
• Community banking
• Mortgage lending
• Commercial lending
• Consumer banking

Headquarters

HQ city

Rapid City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue from interest earned on loans including mortgages, business loans, personal loans, and credit cards
2. Deposit Interest Spread: Revenue generated from spread between interest paid on deposits and interest earned on loans
3. Fee Income: Various banking fees including monthly service charges, ATM fees (when not qualified), overdraft fees, and account maintenance fees
4. Credit Card Revenue: Interchange fees from credit card transactions; cards issued through Elan Financial Services partnership

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Black Hills Community Bank provides retail and commercial banking services to individuals, small businesses, and agricultural operations in the Black Hills region of South Dakota through two physical branches (Rapid City and Spearfish) and digital channels. Core offerings include checking/savings accounts, certificates of deposit, IRAs, consumer and business credit cards, personal loans, residential mortgages, and commercial/agricultural loans. Digital delivery is enabled via online banking, iOS/Android mobile apps, bill pay, e-statements, and a 55,000+ ATM surcharge-free network.

Product overview

Black Hills Community Bank is a regional community bank offering a comprehensive suite of personal and business banking products through multiple service channels. The personal banking portfolio includes Free Checking Plus (with up to 2.53% APY rewards), Community Cash Back checking (with 4% cash back), 50 Plus Checking for seniors, and various savings options including Regular Savings, Community Tree House Savings (for minors), Community Tiered Money Market, and Health Savings Accounts. Term products include Fixed Rate and Flexible CDs, Traditional and Roth IRAs. The bank offers Consumer and Business Credit Cards through Elan Financial Services, Personal Loans for vehicles and home equity, and Construction Loans with permanent financing. Mortgage offerings encompass Conventional, USDA Rural Development, FHA, VA loans, and a specialized Medical Professionals Home Loan Program (up to 100% financing, no PMI). Business banking includes Free Business Checking, Business Checking, Commercial Checking, Business Interest Checking, Business Savings, Business CDs, and Business/Ag Loans. Digital banking is delivered through Mobile Banking App and Online Banking with Bill Pay and E-Statements. The bank participates in Allpoint and Advantage surcharge-free ATM networks with over 55,000 locations.

Differentiator

Problem solved

Functional benefit

Products and services

• Free Checking Plus Free personal checking account offering 2.53% APY on balances up to $25,000 (qualification required: 15 debit card transactions, e-statements, online/mobile banking login); 0.25% APY above $25,000 and 0.05% APY if qualifications not met. Includes five ATM fee reimbursements up to $19.99 per statement cycle and a $100 minimum deposit to open.
• Community Cash Back Free personal checking account offering 4% cash back rewards on debit card purchases of $10 or more, up to $10 per statement cycle, plus five ATM reimbursements up to $19.99 when monthly qualifications are met. Requires $100 minimum deposit to open.
• 50 Plus Checking Interest-bearing personal checking account for customers age 50 and over, paying interest on $1,000+ average daily collected balance. Includes free telephone banking and free standard wallet checks.
• Regular Savings Basic personal savings account with free online banking and mobile app access; requires $100 minimum daily balance to avoid a $3 monthly service charge and $100 minimum deposit to open.
• Community Tree House Savings Savings account for children under 18 with a guardian on the account; features a low minimum deposit and access to online banking, mobile app, and bill pay to support youth financial habits.
• Community Tiered Money Market Tiered interest-bearing savings account where interest rates are based on the average daily balance. Includes free online banking, mobile app, bill pay, and the first ATM card free. Requires $1,000 minimum daily balance to avoid a $10 monthly service charge.
• Health Savings Account (HSA) Tax-advantaged healthcare savings account with no minimum balance requirement, allowing pre-tax contributions for qualified medical expenses.
• Fixed Rate CD Certificate of Deposit with a fixed interest rate, $500 minimum deposit, and terms ranging from 3 months to 5 years. Insured by the FDIC.
• Flexible CD Certificate of Deposit with a $5,000 minimum opening deposit and a $2,500 minimum balance, offered in 10–55 month terms. Allows one rate increase if market rates rise and penalty-free withdrawal of up to half the balance once during the term.
• Traditional IRA Individual Retirement Account allowing pre-tax dollar contributions with tax-deferred growth until withdrawal during retirement.
• Roth IRA Individual Retirement Account with after-tax contributions offering tax-free qualified withdrawals including earnings, with penalty-free access to contributions at any time.
• Consumer Credit Cards Personal credit cards offered through Elan Financial Services with Visa and Mastercard options. Includes mobile purchasing capability, 24/7 cardmember service, zero fraud liability, and free online expense reporting tools.
• Business Credit Cards Business credit cards issued via Elan Financial Services offering low rate, cash back, or flexible rewards options. Includes free online expense reporting, no additional employee card fees, and zero fraud liability.
• Mobile Banking App Mobile banking application for iOS and Android enabling account balance viewing, transaction history, alerts, fund transfers, loan payments, and bill pay. Free service for enrolled internet banking customers.
• Online Banking Internet banking platform enabling account management, bill payment, e-statement enrollment, and mobile banking access through a web browser.
• Construction Loan Two-phase construction loan consisting of a construction phase (draw-down line of credit with monthly interest payments) and permanent financing replacement upon home completion. Up to 90% loan-to-value for approved builders, with construction-to-permanent structure.
• Conventional Loan Fixed-rate conventional mortgage with no property, area, income, or purchase price limitations, offering down payment flexibility and standard underwriting guidelines.
• USDA Rural Development Loan Government-backed USDA mortgage providing up to 100% financing for qualified buyers in eligible rural areas with no down payment requirement and seller contribution flexibility.
• FHA Loan Government-backed FHA mortgage requiring a 3.5% down payment, allowing gift funds for the entire down payment and closing costs, with seller contributions up to 6%.
• VA Loan Military benefit mortgage with fixed and adjustable rate options, allowing gift funds and offering up to 100% financing up to VA county loan limits, with seller contributions up to 4%.
• Home Equity Line of Credit Revolving line of credit secured by home equity, providing flexible borrowing for major purchases, debt consolidation, or home improvements.
• Medical Professionals Home Loan Program Specialized mortgage program for doctoral-level medical professionals (MDs, dentists, surgeons, orthodontists, veterinarians, physical therapists) offering up to 100% financing, no private mortgage insurance, and competitive rates with flexible underwriting.
• Personal Loans Variable-purpose personal loans including home equity loans and lines of credit, auto loans, boat loans, RV loans, motorcycle loans, and remodeling project financing with competitive interest rates.
• Free Business Checking Small business checking account with no minimum balance requirement and no monthly service charge. Includes free online banking, mobile app, bill pay, and check images. Charges $0.25 per item over 200 monthly debits/credits/deposits. $100 minimum deposit to open.
• Business Checking Business checking account including up to 400 monthly debits, credits, and deposited items, with free check images, online banking, bill pay, cash management services, and the first business debit card free. $2,500 minimum balance to avoid a $7.50 monthly service charge.
• Commercial Checking Commercial checking account for higher-volume business balances. Charges a $7.50 monthly service charge offset by an earnings credit based on the 91-day Treasury Bill rate; per-item fees of $0.10 per debit and $0.07 per deposited item.
• Business Interest Checking Business checking account that accrues interest on deposited funds, allowing businesses to earn interest while maintaining operating liquidity.
• Business Savings Interest-bearing business savings account with free online banking, mobile app, and bill pay. Requires $100 minimum balance to avoid a $3 monthly service charge.
• Business Health Savings Account (HSA) Business healthcare expense management account with no minimum balance or monthly service charge; allows pre-tax contributions for qualified medical expenses.
• Business CDs Commercial certificates of deposit for business savings and expansion planning, offering short-term and long-term maturity options with FDIC deposit protection.
• Business and Ag Loans Comprehensive business and agricultural financing including lines of credit for working capital, term loans for inventory and expansion, real estate mortgages for commercial and agricultural properties, and letters of credit.
• Surcharge-Free ATM Access Access to over 55,000 surcharge-free ATMs through the Allpoint and Advantage networks worldwide, with ATM fee reimbursements for qualifying checking accounts and ATM locator tools via the Allpoint and Advantage apps.

Quantifiable outcome

• Mortgage loans closed within 30 days
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered flagship, core, strategic and minor.

• Pizza RanchflagshipStrategic or Co-development Partner · 1 January 2015Partnership with Pizza Ranch for the 12 Days of Pizza program, which originated with Black Hills Community Bank in 2015. The program provides over 2,000 meals to children and families during Christmas break. Families are identified by local schools as low-income households needing food assistance during the holidays.
• AllpointcoreTechnology or IntegrationPartnership with America's largest surcharge-free ATM network providing over 55,000 surcharge-free ATMs worldwide. Customers can search for ATMs via the Allpoint website or mobile app available on Android and Apple stores.
• AdvantagecoreTechnology or IntegrationPartnership with Advantage ATM network providing additional surcharge-free ATM locations. The Advantage app is available for download from Android and Apple stores to locate surcharge-free ATMs globally.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services is the creditor and issuer of Black Hills Community Bank's Visa and Mastercard credit cards. Elan provides zero fraud liability protection, free online expense reporting tools, mobile payment capability, and 24/7 cardmember service.
• Legacy Custom Homes & DesignsstrategicStrategic or Co-development PartnerConstruction loan partnership with Legacy Custom Homes & Designs allows customers to bypass builder approval process when working with Legacy. The partnership enables streamlined construction financing for customers building custom homes.
• Cornerstone Mission Women's and Children's HomeflagshipStrategic or Co-development PartnerPrimary beneficiary of annual Diaper Drive program. Rapid City location collected 54,051 diapers in 2024, contributing to over 630,000 diapers collected since the program's inception. The bank has supported this organization for 13 years.
• Bella Pregnancy Resource CenterflagshipStrategic or Co-development PartnerSpearfish location beneficiary of annual Diaper Drive program. Spearfish location contributed 22,496 diapers to Bella Pregnancy Resource Center in 2024.
• Deluxe CorporationminorOthersThird-party check printing service provider. Black Hills Community Bank links to Deluxe for personal and business check reordering through the website.
• FDIC (Federal Deposit Insurance Corporation)coreOthersFederal regulatory agency providing deposit insurance. All Black Hills Community Bank deposits are insured by the FDIC up to the maximum allowed amount.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Dacotah Bank: Dakota-focused community bank with comparable deposit products, agricultural lending, and small business services. Closely aligned in business model and regional footprint.
• First National Bank South Dakota: Regional community bank headquartered in the Dakotas offering similar deposit, lending, and agricultural products. Directly comparable footprint and target customer base in the Black Hills region.
• First Interstate BancSystem: Regional bank with significant presence across the Northern Plains including South Dakota, offering consumer, commercial, and ag lending products with similar community-bank positioning.
• BankWest, Inc. South Dakota community bank offering retail deposits, business loans, and ag financing to rural and small-town customers. Direct comparable in size and target market.
• Great Western Bank: Multi-state community bank with significant South Dakota presence offering consumer and business banking, mortgages, and ag lending. Closest scaled comparable in the same geography.

Regional players

• Black Hills Federal Credit Union: Local credit union serving the Black Hills region with consumer deposits, mortgages, and consumer loans. Same geography but operates under cooperative ownership structure rather than as a chartered bank.

Broad incumbents

• Wells Fargo: National bank with retail branches in Rapid City and across South Dakota. Competes for the same consumer and small business deposits and loans, but at materially greater scale and product breadth.
• JPMorgan Chase: Largest U.S. retail bank with national brand and digital capabilities. Competes indirectly through national deposit products and mortgage origination channels that reach BHCB's target customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/blackhillscommunitybank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

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 Black Hills Community Bank