A week or so ago, we got a letter from Home Federal indicating their local branch here would be closed. This was followed by a letter from First Fidelity indicating the same and noting that accounts would be automatically transferred to that bank on December 29, 2006.
The local newspaper indicated a few of the details of the bank transfer. Members of the State "De-Banking" Commission had so many real or potential conflicts of interest in the deal that they had difficulty putting together a quorum for the approval votes. But, it went through. The little Savings and Loan/ Bank pictured below was going to be sold twice and then closed.

We started doing some little banking there when it was something like Dakota Home S&L probably a bit more than 20 years ago when Bob Carr was running it. Even if he once ran for the SD legislator as a GOP candidate, he was a guy you could talk with. He was followed by Dan Viedt who died too young of cancer. Then the place was more or less run by the two women who had worked there for some time.
Shirley and Stephanie always were cheerful and helpful.
The letter we received indicated or implied they would have new jobs more or less guaranteed after the transfers and closure. When we closed our small accounts there, it seemed that indication of possible employment in the letter may have been made in error.
The transfers are interesting. Home Federal sells about four of their branches including that here in Winner, SD to Great Western bank. I don't know what happened to the other old HF branches, but the one here in Winner will on Dec 29 be transferred fo First Fidelity and then First Fidelity on the same day will close the bank and move accounts to their bank.
But, I doubt all former Home Federal customers will move to First Fidelity by default. Some of us were willing to pay for our own checks to move the accounts to Bank West instead. I assume there were perhaps a few more people around here who did something like that too.
Banks which like to promote free enterprise and open playing fields of capitalism really want a bowling alley and a bulldozer for their own businesses. The SD "De-Banking" Commission has not done Winner, SD any favors by allowing removal of one more element of banking competition here.
The building isn't very large, but isn't in a bad location. I wonder if it can become another drive-in liquor store? Winner, SD needs a few more places selling booze if they can figure out a way to get around the permit limitatioins as the population drops here.
Which reminds me of the recent snowstorm and the fact that snow again was a huge surprise and set on the streets until it became about 4 inches of packed snow slippery as ice on a smoothed rink...only it wasn't smooth. Here is a question for those of you with math skills. How many times does a truck with a blade set 4 inches about the surface have to blade the street to get rid of the last four inches of that mystery substance apparently never seen before, but commonly known as snow?
People who have considered this as a place to move to have thought about it until the came here after a snow and then wondered if the city even had a street department. That pretty well killed their interest in retiring here.
But, the sun did shine a bit today and some of the snow disappeared from the streets. Even the mess on the street to the hospital and school mostly slushed off by late this afternoon. Another day or two of some warmth and the streets may be ready for the next snowstorm and the ever surprising ice that mysteriously forms when snow removal never starts until the very, very last snowflake falls.
We did get a couple of nice ballpoint pens from Bank West for opening new accounts there. It has been one of those days and this place doesn't even have a Lake Woebegone any where near here but it does have a sewage lagoon thoughtfully placed so the prevailing wind blows the stink right into town most of the times when a warm winter day releases the stench. And, the city fathers decided that if they could con the county into helping pay for a new jail here that it would be a wonderful form of economic development...never mind that some of the prisoners come with attached relatives some of which also have problems that generate social costs here.
**Stay tuned even if you keep all your liquid assets hidden under your mattress and sleep with a shotgun and one eye opening waiting for the next jail break.=--- Doug Wiken
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