Dacotah Bank makes Best Bank to Work For list
BROOKINGS In recognition of its dedication to employees and their families, Dacotah Bank has again been named one of the Best Banks to Work For by American Banker.
This marks the sixth consecutive year of this honor. Dacotah Bank was ranked No. 8 on this years list, marking six consecutive years of receiving this honor.
In the past three years, our rankings have been No. 28, No. 39, and No. 22, demonstrating our commitment to consistent excellence.
In addition to an enhanced paid parental leave program, we eliminated employee-paid premiums for medical and dental insurance employees and their families and believe these changes demonstrate our commitment to the entire Dacotah Bank family who contribute so much to the company and the communities in which we live and work, said Chairman and CEO Robert Fouberg.
Creating a great workplace culture is the best way to retain and recruit employees, said Fouberg.
The DacotahGrown internship program immerses young professionals in the organizations functions, teams and culture as a foundation for success should they choose to stay with Dacotah Bank upon graduation.
Dacotah Banks Culture Committee focuses on employees and making Dacotah Bank an employer of choice.
The Give Where We Live program empowers employees to make a positive impact by choosing a community organization to support. By allowing them to direct a portion of the banks giving, we promote community engagement and encourage participation in causes that resonate with employees.
Dacotah Bank prioritizes employee engagement by offering various growth opportunities, including leadership and development programs for both employees and supervisors. The bank also invests in a comprehensive performance management and leadership framework to foster ongoing discussions regarding employee development and career advancement.
The Best Banks to Work For program, initiated in 2013 by American Banker and Best Companies Group, identifies, recognizes and honors banks for outstanding employee satisfaction. Full results of this years program are available at AmericanBanker.com and in the November issue of American Banker Magazine.
The program is open to commercial banks, thrifts, savings banks and other chartered retail financial institutions with at least 50 employees in the United States. For more information on eligibility or other questions related to the Best Banks to Work For program, visit www.BestBankstoWorkFor.com or contact Katrina Heimbach at 717-323-5244.
First Bank & Trust among banks honored bySouth Dakota’s SBA office
SIOUX FALLS The U.S. Small Business Administration South Dakota District Office is honoring four lenders for their commitment to small businesses in the fiscal year ending September 30, 2023, during a virtual celebration on Jan. 10 10:30 a.m. CST. The public is invited to join at https://bit.ly/480JoPH.
In fiscal year 2023, approximately $113 million of SBA guaranteed lending was made available to South Dakota businesses through a variety of SBA lending programs including 504, 7(a), and micro loans, said Jaime Wood, SBA South Dakota district director. SBA partners directly with community and national banks, credit unions, and micro lender partners to provide needed capital for small business startup and growth. The SBA guarantee and decreased upfront fees helps the lenders and the borrowers to get to the yes at the lending table. Wood added there is active participation in SBA loan programs statewide including in rural South Dakota.
SBA SD 2023 Leadership in Lending Award recipients:
- First Bank & Trust achieved the highest dollar volume of SBA 7(a) lending in South Dakota making nine loans for a total of $15 million. These loans support 193 jobs in the arts, entertainment and recreation, educational services, transportation and warehousing.
- Black Hills Federal Credit Union made the highest number 7(a) loans 27 in total, for a combined $4.6 million. These loans support 253 jobs across a variety of industries including manufacturing, construction, retail, and accommodation and food service.
- Dakota Business Finance, an SBA Certified Development Company (CDC), was the top producer for both loan number and loan dollar volume for 504 loans in South Dakota in FY23. Dakota Business Finance made 25 SBA 504 loans across the state, totaling $27 million. The loans support 240 jobs in healthcare, manufacturing, and the arts, entertainment and recreation industry.
- First Dakota National Bank is the third-party 504 lender award recipient with six loans totaling $45 million. A third-party lender financial institution partners with a Certified DevelopmentCorp. to provide up to 50% of the total project cost.
The 7(a) loan program is the SBAs primary program for providing financial assistance to small businesses and offers guarantees on loans to small businesses of up to $5 million on reasonable terms and conditions. SBA 7(a) loans are commonly used for acquiring land, purchasing equipment, or working capital.
South Dakota Retailers Associationoffering scholarships
PIERRE Careers in retail, hospitality and trades are in high demand in South Dakota. The South Dakota Retailers Association is offering scholarships to help students reach their goal of entering those fields. Students may apply online at sdra.org/scholarships.
The Retailers Association scholarship program is designed to assist students studying for a career as an owner, manager, or employee in a wide range of occupations. To be eligible for consideration, applicants must be currently enrolled or plan to enroll in a retail, hospitality, or trade course of study at a university, technical college, or trade school in the fall of 2024.
In 2023, the association awarded funds to six students in amounts ranging from $2,100 to $3,500. Since the program was launched in 1992, the Retailers Association has awarded 275 scholarships, totaling nearly $238,000.
By investing in the next generation of aspiring business leaders, the Retailers Association aims to continue their mission of fostering strong communities within South Dakota.
Every community in South Dakota is eager to attract people who want careers in retail, hospitality and trade businesses, said Nathan Sanderson, the associations executive director. Our scholarship program can help launch those individuals on a rewarding career path. Investing a few minutes to apply could result in a scholarship award of $2,000 or more.
If you know a student in South Dakota who could use a hand reaching their goals, South Dakota Retailers want to help them succeed in our state. Visit sdra.org/scholarships to download the application and view the full eligibility guidelines, or call (605) 224-5050 for information. Submission deadline is April 23.
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