Sofi Bank in South Dakota vs the state
5.8%Denial rate-6.96 pts vs state
14.9%Decision denial rate-0.84 pts vs state
33.1%Origination rate-32.98 pts vs state
7.93%Median rate+1.43 pts vs state
2.36Rate spread (pts)+2.18 pts vs state
$101kMedian applicant income
40Loans originated
7Denied
Trend in South Dakota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 10 | 2 | 10.0% | 7.56% | #118 |
| 2024 | 29 | 10 | 17.2% | 7.00% | #82 |
| 2025 | 121 | 40 | 5.8% | 7.93% | #52 |
What Sofi Bank lends in South Dakota
By loan purpose
By loan type
Why it denied South Dakota applicants
Where in South Dakota
Counties with the most Sofi Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Minnehaha County | 28 | 9 | 0 | 0.0% |
| Pennington County | 22 | 9 | 2 | 9.1% |
| Lincoln County | 11 | 6 | 1 | 9.1% |
| Brown County | 10 | 2 | 2 | 20.0% |
| Meade County | 7 | 1 | 1 | 14.3% |
| Lawrence County | 6 | 0 | 0 | 0.0% |
| Codington County | 5 | 2 | 0 | 0.0% |
| Union County | 5 | 2 | 0 | 0.0% |
| Brookings County | 5 | 3 | 0 | 0.0% |
| Clay County | 4 | 2 | 0 | 0.0% |
Other large lenders in South Dakota
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Plains Commerce Bank | B | 2,280 | 5.5% | 6.25% |
| First PREMIER Bank | C | 1,389 | 11.7% | 6.88% |
| First Bank & Trust | C | 1,320 | 11.2% | 6.63% |
| Black Hills Federal Credit Union | D | 1,223 | 23.0% | 7.75% |
| Rocket Mortgage | C | 1,027 | 16.9% | 6.75% |
| CMG Mortgage | A | 919 | 2.3% | 6.38% |
| Bankwest | F | 786 | 14.0% | 7.25% |
| First Dakota National Bank | A | 690 | 4.6% | 6.50% |
| Levo Federal Credit Union | B | 644 | 6.8% | 7.50% |
| U.S. Bank | D | 637 | 24.0% | 6.99% |
Frequently asked questions
South Dakota: 121 applications in 2025, of which 40 were originated and 7 denied.
5.8% of all applications, or 14.9% of the applications it actually decided on. The South Dakota statewide average across all lenders was 12.8%.
The median rate on loans Sofi Bank originated in South Dakota in 2025 was 7.93%, against a statewide median of 6.50%.
About this data. Figures are Sofi Bank's own HMDA filing for properties located in South Dakota, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology