Steve Bumann, Kristina Schaefer, David Bangasser and Shawn Rost Elected as SDBA 2020-2021 Officers
PIERRE, S.D.–The South Dakota Bankers Association (SDBA), the professional and trade association for South Dakota’s financial services industry, elected officers for its 2020-2021 Board of Directors. The SDBA is honored to have the following individuals serve as officers:
- Chair: Steve Bumann, CFO, BankWest, Inc., Pierre
- Chair-Elect: Kristina Schaefer, General Counsel & Chief Risk Officer, First Bank & Trust, Sioux Falls
- Vice Chair: David Bangasser, Southern Region President, Dacotah Bank, Sioux Falls
- Immediate Past Chair: Shawn Rost, South Dakota Market President, First Interstate Bank, Rapid City
The official election took place at the SDBA’s Annual Business Meeting held virtually on June 9. The term for the new officers is effective now through next year’s Annual Business Meeting.
Chair Steve Bumann
Steve 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 36-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 currently a member director for South Dakota on the Federal Home Loan Bank of Des Moines Board. He is also 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 he is a past president of the Pierre Area Chamber of Commerce.
Bumann and his wife, Deb, who will be married for 37 years in July, have four adult children and five grandchildren. Aaron and his wife, Erin, are in Kansas City; Michael and his wife, Kimmie, are in Chicago; Brian is in Minneapolis; and Elizabeth and her husband, Chris, are in Rapid City.
Chair-Elect Kristina Schaefer
Kristina Schaefer serves as 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 13 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 also a member of South Dakota’s Elder Abuse Prevention Task Force. Schaefer was named the 2019 South Dakota Women in Law Attorney of the Year.
Schaefer and her husband, Scott, have two daughters: Olivia (13) and Harper (8).
Vice Chair David Bangasser
David 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. He joined Dacotah Bank in 1995.
Bangasser is board chair and a classroom volunteer for Junior Achievement of Sioux Falls 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 38 years. They have one daughter, Megan Hartz. Megan and her husband, Dusty, have two children: Cohen (13) and Cade (12).
Immediate Past Chair Shawn Rost
Shawn Rost is the South Dakota market president for First Interstate Bank. Rost and his wife, Susan, live in Rapid City. Shortly after graduation from Black Hills State University, he was hired as a consumer loan officer in Spearfish. From there, Rost was named the Deadwood branch president and then the Sturgis branch and Northern Hills market president. He was promoted to his current position in 2016 and has worked for First Interstate Bank for 28 years.
Rost has been on the SDBA Board of Directors for the past six years. He is passionate about SDBA advocacy efforts, finding ways for banks to become more profitable so they can better invest in the communities they serve, and encouraging more bank employees to become active in the SDBA. Rost currently serves on the South Dakota Community Foundation Board of Directors and in the past served on the executive boards of many nonprofit organizations including the Northern Hills Training Center in Spearfish, the Deadwood Chamber of Commerce, Neighbor Works Dakota Home Resources and Deadwood Economic Development.
Rost and his wife enjoy traveling and spending time with their three sons: Hunter (25), Tanner (23) and Traven (11).
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