PlainLender

Dacotah Bank

Aberdeen, SD

Dacotah Bank processed 672 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 563 loans with a 6.3% denial rate. Home Purchase was the primary loan purpose. Based in Aberdeen, SD. The approval rate of 83.8% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. Dacotah Bank processed 672 HMDA-reported mortgage applications in 2024, originating 563 loans and denying 42 for a denial rate of 6.3% (applicants themselves withdrew 2 files before a decision). The average loan amount was $275,908 at a 6.811% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 549300UQPFB0RR8JCA42 from Aberdeen, SD.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. Dacotah Bank's 83.8% origination rate tells you how often an application turned into funded money; the 6.3% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (586 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.

672
Applications
563
Originated
6.3%
Denial Rate
$275,908
Avg Loan Amount
Avg Interest Rate: 6.811% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 586 489 38 $283,959
FHA 35 31 1 $226,714
USDA 30 26 0 $165,333
VA 21 17 3 $291,190

Top loan types — Dacotah Bank

Top loan types — Dacotah Bank Horizontal bar chart of the top 4 items by value (applications). Top loan types — Dacotah Bank Top 4 1. Conventional 586 2. FHA 35 3. USDA 30 4. VA 21 Top 5 loan types by application volume at Dacotah Bank (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for Dacotah Bank (LEI: 549300UQPFB0RR8JCA42) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
20
Credit history
12
Collateral
8
Other
3
Insufficient cash
2
Employment history
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 483 421 $259,327
Refinancing 72 65 $683,194
Home Improvement 52 38 $43,269
Other 43 30 $101,047
Cash-out Refinancing 22 9 $198,636

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 522 83.0% 6.3%
American Indian or Alaska Native 15 60.0% 26.7%
Joint 14 92.9% 7.1%
Asian 9 77.8% 11.1%
Black or African American 2 100.0% 0.0%

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 515 82.9% 6.4%
Hispanic or Latino 12 75.0% 16.7%
Joint 11 72.7% 9.1%

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

BANKWEST, INC.

PIERRE, SD

1,663 apps 636 originated 38.6% denied

FIRST PREMIER BANK

SIOUX FALLS, SD

1,495 apps 909 originated 19.6% denied
Compare Dacotah Bank vs Plains Commerce Bank →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did Dacotah Bank process?
Dacotah Bank processed 672 mortgage applications in the 2023 HMDA reporting year. Of these, 563 were originated (approved and funded), 2 were withdrawn by the applicant, and 42 were denied.
What is Dacotah Bank's mortgage approval rate?
Dacotah Bank has an approval (origination) rate of 83.8%, meaning 83.8% of all applications resulted in a funded mortgage. The denial rate is 6.3%.
What is the average loan amount at Dacotah Bank?
The average mortgage loan amount at Dacotah Bank is $275,908. The average interest rate is 6.811%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at Dacotah Bank?
The most common reasons for mortgage denial at Dacotah Bank are: Debt-to-income ratio, Credit history, Collateral. In total, 42 applications were denied out of 672 total applications.
What types of mortgage loans does Dacotah Bank offer?
Dacotah Bank processes Conventional, FHA, USDA, VA loans. The most common type is Conventional with 586 applications and an average loan amount of $283,959.
What loan purposes does Dacotah Bank serve?
Dacotah Bank serves the following loan purposes: Home Purchase (483 applications), Refinancing (72 applications), Home Improvement (52 applications), Other (43 applications), Cash-out Refinancing (22 applications). Home Purchase is the most common purpose.
Where is Dacotah Bank located?
Dacotah Bank is headquartered in Aberdeen, SD. The lender is identified by LEI 549300UQPFB0RR8JCA42 in HMDA data.
How does Dacotah Bank compare in lending across racial demographics?
Dacotah Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 83.0% and denial rate of 6.3%; American Indian or Alaska Native applicants have an approval rate of 60.0% and denial rate of 26.7%; Joint applicants have an approval rate of 92.9% and denial rate of 7.1%. 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.