— Jodi Eich, Chairwoman of ICBSD, Vice Chair and Chief Operating Officer, Rivers Edge Bank

As 2024 comes to a close, it’s the perfect time to reflect on the achievements of South Dakota’s community banks and the strides we’ve made together as an industry. This past year has shown just how resilient and adaptable our institutions are, particularly in the face of evolving challenges in both the economic and regulatory landscapes.

Legislative Wins for Community Banks

One of the biggest highlights of 2024 was the progress made on the legislative front. Thanks to the tireless advocacy efforts of ICBSD and our members, we saw significant victories at the state level.  A key achievement was the successful passage of regulatory relief measures aimed at easing the burden on smaller banks. These reforms will help streamline compliance processes, allowing community banks to focus more on serving their customers and less on regulatory red tape.

In addition, improvements to small business lending laws were another win for community banks. This legislative update will make it easier for our institutions to continue providing vital loans to local businesses, helping drive economic growth in the towns and cities we serve. These wins were a direct result of the collective voices of South Dakota’s bankers coming together to advocate for our industry’s future.

Association Highlights

This year has also been a busy one for ICBSD. We’ve continued to expand our professional development programs, including opening applications for the 2025 Level Up class. This program is designed to shape the next generation of community banking leaders by providing them with the skills and mentorship they need to succeed.

Our annual Black Hills Retreat was a huge success, bringing together bankers from across the state to share ideas, connect, and celebrate the industry we love. It’s events like this that strengthen the bonds between our members and remind us all of the importance of working together.

As we look ahead to 2025, I am confident that South Dakota’s community banks will continue to thrive. Together, we’ve proven that by staying united and focused on our mission, we can achieve great things for our communities and our industry.

Let’s carry this momentum into the new year and continue building a bright future for community banking in South Dakota!

 

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“A key achievement was the successful passage of regulatory relief measures aimed at easing the burden on smaller banks.”

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