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Bankwest, INC.

PIERRE, SD

Bankwest, INC. processed 1,663 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 636 loans with a 38.6% denial rate. Home Purchase was the primary loan purpose. Based in PIERRE, SD. The approval rate of 38.2% reflects originated loans as a share of all applications.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% - HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Bankwest, INC.'s 38.2% origination rate tells you how often an application turned into funded money; the 38.6% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Debt-to-income ratio, Insufficient cash, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,565 applications).

How to read this page. These figures are aggregate HMDA disclosures, they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting, it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

1,663
Applications
636
Originated
38.6%
Denial Rate
$145,517
Avg Loan Amount
Avg Interest Rate: 7.418% Avg Applicant Income: $36,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,565 565 635 $138,636
FHA 61 44 6 $252,541
VA 21 17 0 $329,762
USDA 16 10 1 $168,750

Top loan types - Bankwest, INC.

Top loan types - Bankwest, INC. Horizontal bar chart of the top 4 items by value (applications). Top loan types - Bankwest, INC. Top 4 1. Conventional 1,565 2. FHA 61 3. VA 21 4. USDA 16 Top 5 loan types by application volume at Bankwest, INC. (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for Bankwest, INC. (LEI: 5493007YN2BYYXCI7W64) · 2024 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Credit history
413
Debt-to-income ratio
355
Insufficient cash
51
Employment history
17
Collateral
13
Credit application incomplete
11
Unverifiable information
8
Other
5

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 1,437 503 $152,697
Home Improvement 91 56 $55,220
Refinancing 54 32 $174,074
Cash-out Refinancing 49 31 $129,082
Other 32 14 $56,875

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 1,256 41.2% 35.6%
Asian 56 25.0% 58.9%
Joint 53 39.6% 41.5%
American Indian or Alaska Native * 44 25.0% 47.7%
Black or African American * 22 18.2% 59.1%
2 or more minority races * 5 0.0% 80.0%
Native Hawaiian or Other Pacific Islander * 4 25.0% 0.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 1,168 43.3% 32.9%
Hispanic or Latino 179 14.0% 63.1%
Joint * 30 26.7% 40.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

Nearby Lenders in SD

Other HMDA-reporting lenders in SD with similar activity. Compare any two side-by-side.

Plains Commerce Bank

Hoven, SD

23,164 apps 13,605 originated 3.1% denied

First Bank & Trust

Sioux Falls, SD

1,951 apps 1,358 originated 12.6% denied

Black Hills Federal Credit Union

RAPID CITY, SD

1,766 apps 1,019 originated 22.9% denied

First Premier Bank

SIOUX FALLS, SD

1,495 apps 909 originated 19.6% denied

First Dakota National Bak

Yankton, SD

708 apps 573 originated 5.9% denied
Compare Bankwest, INC. vs Plains Commerce Bank →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did Bankwest, INC. process?
Bankwest, INC. processed 1,663 mortgage applications in the 2024 HMDA reporting year. Of these, 636 were originated (approved and funded), 279 were withdrawn by the applicant, and 642 were denied.
What is Bankwest, INC.'s mortgage approval rate?
Bankwest, INC. has an approval (origination) rate of 38.2%, meaning 38.2% of all applications resulted in a funded mortgage. The denial rate is 38.6%.
What is the average loan amount at Bankwest, INC.?
The average mortgage loan amount at Bankwest, INC. is $145,517. The average interest rate is 7.418%. The average applicant income is $36,000.
What are the most common reasons for mortgage denial at Bankwest, INC.?
The most common reasons for mortgage denial at Bankwest, INC. are: Credit history, Debt-to-income ratio, Insufficient cash. In total, 642 applications were denied out of 1,663 total applications.
What types of mortgage loans does Bankwest, INC. offer?
Bankwest, INC. processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 1,565 applications and an average loan amount of $138,636.
What loan purposes does Bankwest, INC. serve?
Bankwest, INC. serves the following loan purposes: Home Purchase (1,437 applications), Home Improvement (91 applications), Refinancing (54 applications), Cash-out Refinancing (49 applications), Other (32 applications). Home Purchase is the most common purpose.
Where is Bankwest, INC. located?
Bankwest, INC. is headquartered in PIERRE, SD. The lender is identified by LEI 5493007YN2BYYXCI7W64 in HMDA data.
How does Bankwest, INC. compare in lending across racial demographics?
Bankwest, INC. reports demographic lending data under HMDA requirements. White applicants have an approval rate of 41.2% and denial rate of 35.6%; Asian applicants have an approval rate of 25.0% and denial rate of 58.9%; Joint applicants have an approval rate of 39.6% and denial rate of 41.5%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology - how this data is sourced, computed, and verified.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.