Kristina Schaefer, David Bangasser, David Nelson and Steve Bumann Elected as SDBA 2021-2022 Officers

The South Dakota Bankers Association (SDBA), the professional and trade association for South Dakota’s financial services industry, elected officers for its 2021-2022 Board of Directors. The SDBA is honored to have the following individuals serve as officers:

  • Chair: Kristina Schaefer, General Counsel & Chief Risk Officer, First Bank & Trust, Sioux Falls
  • Chair-Elect: David Bangasser, Southern Region President, Dacotah Bank, Sioux Falls
  • Vice Chair: David Nelson, President/CEO, First Fidelity Bank, Burke
  • Immediate Past Chair: Steve Bumann, CFO, BankWest, Inc., Pierre

The official election took place at the SDBA’s Annual Business Meeting held on June 15 in Rapid City. The term for the new officers is effective now through next year’s Annual Business Meeting.

Chair Kristina Schaefer:
Photo of Kristina SchaeferKristina Schaefer is general counsel and chief risk officer for First Bank & Trust. Schaefer serves as the organization’s primary legal resource and also oversees the compliance, fraud, BSA/AML, audit, ERM and third-party oversight functions. During the past 14 years, she has also held the titles of general and corporate counsel. Prior to joining the bank, Schaefer worked as an attorney in a private practice where she specialized in banking law and general corporate law. Before attending law school, she was employed at First Bank & Trust and worked in customer service and risk management.

Schaefer regularly coaches Girls on the Run and is on the Helpline Board of Directors. She also serves as a mentor to two young girls as part of the LSS School Based Mentoring Program and is active in its Everyday Heroes Recruitment Campaign and Advisory Committee. She was a member of South Dakota’s Elder Abuse Prevention Task Force and was named 2019 South Dakota Women in Law Attorney of the Year.

Schaefer and her husband, Scott, have two daughters: Olivia (14) and Harper (9).

Chair-Elect David Bangasser:
Photo of David BangasserDavid Bangasser is southern region president for Dacotah Bank in Sioux Falls. He began his banking career in 1982 working for Western Bank in Sioux Falls. He went on to work in St. Paul at Heritage National Bank, Firstar Bank of Minnesota and American National Bank. Bangasser joined Dacotah Bank in 1995.

Bangasser is a Junior Achievement classroom volunteer, board member for Junior Achievement of South Dakota and a board member for Singing Boys of Sioux Falls, as well as past service with El Riad Shriners, Sioux Falls Chamber of Commerce and Zoological Society of Sioux Falls.

Bangasser and his wife, Karen, have been married for 39 years. They have one daughter, Megan Hartz. Megan and her husband, Dusty, have two children: Cohen (14) and Cade (13).

Vice Chair David Nelson:
Photo of David NelsonDavid Nelson is president and CEO of First Fidelity Bank in Burke. Before joining the bank in 1995, he worked as an investment representative for American Express. Nelson has a bachelor of science degree in business administration and a master of business administration from the University of South Dakota and attended the Graduate School of Banking in Wisconsin. He has Series 7, 63 and 65 national securities licenses.

Nelson is a member of the Burke Business Promotion Corporation and the Platte Area Foundation Board. He is past president of the Platte Development Corporation and previously served on the Platte Chamber of Commerce Board, St. Peter’s Catholic Church Council and the Platte Black Panther Booster Club Board. Nelson is a member of St. Peter’s Catholic Church and the Knights of Columbus.

Nelson and his wife, Bernadette, have been married for 42 years. They have three grown daughters and seven grandchildren.

Immediate Past Chair Steve Bumann:
Photo of Steve BumannSteve Bumann is the CFO for BankWest, Inc. in Pierre. He began his employment with BankWest as vice president of finance in 1984. He has worked in BankWest’s finance department for his entire 37-year banking career. Prior to joining BankWest, Bumann worked for the Department of Legislative Audit and a local Pierre CPA firm. Bumann graduated from the University of South Dakota in 1975 with a BS in accounting and passed the CPA exam in 1977.

Bumann is a member director for South Dakota on the Federal Home Loan Bank of Des Moines Board and serves on the 

Elder Board of his local church. His past service includes seven years on the Pierre School Board, a term on the South Dakota Retirement System Board of Trustees as the school board representative and past president of the Pierre Area Chamber of Commerce.

Bumann and his wife, Deb, who will be married for 38 years in July, have four adult children and five grandchildren.

The South Dakota Bankers Association (SDBA) is the professional and trade association for South Dakota’s financial services industry. Established in 1884, the SDBA enhances the ability of its members to compete effectively and profitably in the financial services industry. The SDBA helps educate, advocate and grow a diverse mix of financial institutions throughout the state. For more information about the SDBA, visit

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