South Dakota

Chief Operations Officer Jerry Schmidt will take over at the Rapid City, S.D.-based institution in early January.

The region now leads the nation in virus cases, and with winter lurking the fear is that the outbreak will only get worse.

Referendums that legalized marijuana and sports wagering in several states could incentivize banks to do business with companies in these sectors. Payday loan and privacy measures that passed Tuesday also have implications for the industry.

The new name is the third time the association has modified its name since leagues for the two states merged in 2007.

United Methodist Federal Credit Union is set to become Interfaith Credit Union. It is also planning to absorb a small South Dakota-based institution with a similar field of membership.

Now known as Explorers Credit Union, the Yankton, S.D.-based shop serves consumers across South Dakota and Nebraska.

Roger Heacock, president and CEO of the South Dakota-based institution, will step down in January.

The company also disposed of a large agricultural loan that was nonperforming.

The decision to bring in Michael Doyle follows a quarter where the South Dakota company reported a spike in net charge-offs.

The South Dakota company discovered "inappropriate user access" to applications at Crestmark Bancorp, which it bought last year.

The South Dakota company warned that it will charge off millions of dollars in loans to dairy and cattle farmers.

April Tompkins has been chief operating officer at the South Dakota-based institution for three years.

The Yankton, S.D.-based institution can now serve 18 counties across two states.

Tanya Hobson will take over for Mechelle Johnson, who will step down in June after 24 years at the helm of the South Dakota-based institution.

This is the second consecutive year that the South Dakota institution has paid out the patronage bonus.

Brad Hanson has been with the South Dakota company since founding its payment services division in 2004.

Doug Bass had been one of the South Dakota company's regional presidents. He succeeded Ken Karels, who remains chairman and CEO.

A South Dakota regulator seeks to liquidate ReliaMax Surety, which provides default insurance for many private student loans held by credit unions.

Kathy Thorson, who is currently a market president at MetaBank, will oversee strategy for all of its four markets.

The $65 million-asset credit union earned the 2018 Growth and Progress Award from the Credit Union Association of the Dakotas for exceeding the state's average across a variety of growth metrics.