# BLACK HILLS
Rapid City, SD · NCUA charter 4365 · asset band $1-10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/black-hills-4365

Who the members are: federal charter, multiple common bond, organized 1941, low-income designated. 108,871 members of 998,461 potential (10.9% of the field); checking penetration 77% (share draft accounts per 100 members); loans per 100 members 66.

**Verdict on the desk:** this could be *indirect buyer*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $2.37B |
| Members | 108,871 (2.2% YoY) |
| Full-time staff | 393 |
| Net worth | $248.1M |
| Net worth ratio | 10.4% (p44 of band) |
| ROA (annualized) | 0.41% (p23 of band) |
| Total delinquency | 0.69% (p59 of band) |
| Net charge-offs (annualized) | 0.55% (p55 of band) |
| Loans / shares | 78% (p27 of band) |
| Cash / assets | 7.0% |
| Borrowings / assets | 0.00% |
| Net interest margin | 3.16% (p40 of band) |
| Operating expense / assets | 3.59% (p69 of band) |
| Vehicles % of loans | 26% (p47 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 66% |
| Third-party paper % of net worth | 130% (p47 of band) |
| Vehicle delinquency | 0.85% (p70 of band) |
| Vehicle NCO | 1.31% (p67 of band) |
| Repossessed % of vehicle book | 0.24% (p87 of band) |
| Real estate % of loans | 42% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 5% |
| Commercial % of net worth | 147% |
| Core shares % of member funds | 27% |
| Certificates % of member funds | 35% |
| Average share balance | $8,137 |
| Participations bought / yr | $0 |
| Participations sold / yr | $0 |
| Participations outstanding | $3.5M |
| Loans outstanding per 100 members | 66% |
| Loans granted per 100 members, annualized | 11% |
| Average loan balance | $22,864 |
| Loans granted, annualized | $467.3M |

## Participation posture (from the same filings)

Bought $0 and sold $0 in the latest annualized quarter; $3.5M outstanding purchased (1.4% of net worth), $22.4M sold and retained. Sold in 0 and bought in 0 of the last 8 quarters. Shares 5.9% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)
- **3rd-party paper>100% NW** (`str_thirdparty`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 0 |  |  |
| 2017-06 | 0 |  |  |
| 2017-09 | 0 |  |  |
| 2017-12 | 2 | net worth falling, delinquency rising |  |
| 2018-03 | 2 |  |  |
| 2018-06 | 1 |  | net worth falling |
| 2018-09 | 1 |  |  |
| 2018-12 | 1 | net worth falling | delinquency rising |
| 2019-03 | 0 |  | net worth falling |
| 2019-06 | 0 |  |  |
| 2019-09 | 0 |  |  |
| 2019-12 | 1 | net worth falling |  |
| 2020-03 | 1 |  |  |
| 2020-06 | 1 |  |  |
| 2020-09 | 1 |  |  |
| 2020-12 | 1 |  |  |
| 2021-03 | 1 |  |  |
| 2021-06 | 0 |  | net worth falling |
| 2021-09 | 0 |  |  |
| 2021-12 | 1 | net worth falling |  |
| 2022-03 | 1 | 3rd-party paper>100% NW | net worth falling |
| 2022-06 | 2 | delinquency rising |  |
| 2022-09 | 1 |  | delinquency rising |
| 2022-12 | 4 | net worth falling, delinquency rising, leaning on borrowings |  |
| 2023-03 | 3 |  | net worth falling |
| 2023-06 | 2 |  | delinquency rising |
| 2023-09 | 3 | delinquency rising |  |
| 2023-12 | 3 |  |  |
| 2024-03 | 4 | delinquency 2x band |  |
| 2024-06 | 3 |  | delinquency 2x band |
| 2024-09 | 3 |  |  |
| 2024-12 | 2 |  | delinquency rising |
| 2025-03 | 1 |  | leaning on borrowings |
| 2025-06 | 2 | assets shrinking |  |
| 2025-09 | 1 |  | assets shrinking |
| 2025-12 | 2 | net worth falling |  |
| 2026-03 | 2 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-04-30 [Black Hills Federal Credit Union Announces the Launch of Black Hills Trust Company - KBHB Radio](https://news.google.com/rss/articles/CBMiqAFBVV95cUxPT3hMWWxwNDQwUHJYS0I5TFNZUlQ5ZWNud3VWN25DV3ExUVFtSG01LUc4dFZWS3N0bWlQVENzZG9YU3F6MFFmS256dl96TnM4NXFJbnNIdnpPMWYtZndrbC0wLVRoUVk4OWptM0VzQ2xOTHRCU05rMXBtMUQ1cmhxNUNYcUh5cVN5dDE2NUxIeUpGQ2pBT21KVmc1UUx6eEZwZVEza19ZdnQ?oc=5) · KBHB Radio
- 2026-05-01 [Black Hills FCU Launches South Dakota's First Trust CUSO - CUTimes](https://news.google.com/rss/articles/CBMilgFBVV95cUxPNlBJUEdxa0lFMnZYb01MWFZKWmVOaXduNTRqOE13bFllbFlja2hvck9Va0ZPX0N0MWIxTGxGWEFJSTd3XzVuVjdhbHNya2RYekV1dzV2ejJzdVJ5dTFOWWtiU3NGZWVaZTM0LW1zYUJaN014a0x4ZHdkNE1LRVpzLUU0M3N5cm81aDVHdi1vWDA3MVJfMUE?oc=5) · CUTimes
- 2026-07-28 [Marlana "Marlie" Nichole Harrison Obituary Jul 23, 2026 - Osheim & Schmidt Funeral Home](https://news.google.com/rss/articles/CBMickFVX3lxTE5OdHUyUzdoZXBkb2hwZlh3QTFwNkdvRHdNdk4yZE1POVJFQ1JjWG5KcUx2ZHIyVTVuV0FZa2VScE9TQTFkR1k2UE5jajJhTUI2anh2LXE4LWpHMVhGMDBOUWlEWmFkb0RWY3ZWdXdONDRYdw?oc=5) · Osheim & Schmidt Funeral Home
- 2026-04-30 [Giving Back for April - SiouxFalls.Business](https://news.google.com/rss/articles/CBMiYkFVX3lxTE90cTNqZVBTUUd3SEVqV1NsQnhfbXE1cDI4bzhuQmdneTlmTkp5aTJma21PSXRzdTVPMnY5ZUhqV0Z5N21rSm5CRjM4Tk5UUzZVcHVHN21oZkZ3U3BOeGdJeE53?oc=5) · SiouxFalls.Business
- 2025-09-18 [Men sentenced for robbing credit union in Eagle Butte - KOTA Territory News](https://news.google.com/rss/articles/CBMiiAFBVV95cUxOTGRtc2twUGVEbTNOYTlIaWh0SU5ZNEd0NmxiVFJKNmNJeGowNFJIUFdQNDEyeUtZSkc1U1NkZTB5UXVJSFZnazdRZlJDQkxxR1NyZncyRF9kQTYxM2ZHUzRxVHdXTloxUWVlRlREcWNuejNoY0dEMHlpY0hOZVpzbkt4R0hfZ1hP0gGcAUFVX3lxTFBzcE0tcmVieUZISG5aNDNxN3RfUWs5MnRJdFpfSFdEeDZkbDhzaFRBM3dOTkFYbVdnbDl6Tjg3LW1fTnZIaF9aczB1cDNZT2tVWHFBdEh6MkN6eWlkMXFORHVLa3NKejRKVjNJcGNnMlhiSV9NQmxneEMwWlV1NjNPb3NzUnpldGU5MzVlSDZmdGt1NGc0Mld2ZzEyTw?oc=5) · KOTA Territory News
- 2026-04-22 [Scholarships awarded to students across the state - KBHB Radio](https://news.google.com/rss/articles/CBMifEFVX3lxTE1QZzA4cGJqUG1pWmtMMm9xYVEtREJxRjl6cTIyakN4ZnN0cDljb3JiTUlhRGJSa05UenRZUEVFQmlGVEF0d1ZDSDZCVjNUaEpzdDllbkhXOGxXSVZaX3ZWNGJrTVVURGRKY3JrZ29vR21pd3lyQ2Z2RnN2Slc?oc=5) · KBHB Radio
- 2025-01-14 [South Dakota Credit Union Taps Local Talent As New CEO - PR Newswire](https://news.google.com/rss/articles/CBMirwFBVV95cUxNUkJOS09QYTNJRFZxNkFmQjdad2tTakRIdkstUmx4SEdlanl0NmZXTWNMMXVqRnBNWFBEa0o4dlNvMkRqemJRQ3hkZ3pYcVF1WXRxYkJpdkVRSDhDWWxSZ00xSndHYlFsMWs2aUI2djZsS0NrdGQzRDZLci1GV1piTEJlT2otU3RzTjFjOFNMcF9EMm9WcmVCLTVUTFhSdUpRNS1vVVRuYkp4QjlIdDFj?oc=5) · PR Newswire
- 2023-01-18 [Black Hills Federal Credit Union celebrates Grand Opening of newest Rapid City location - CUInsight](https://news.google.com/rss/articles/CBMixwFBVV95cUxQeFA5RW41RFFhSkhBcVNSemVuYzZ6VWdzMmVMcTJvVm9ZQjBVNGdFSzR6SHVoTDg5LThFa3k0LTFsbHZTMDU1ZVJNQ2VaZS1ZLS1SSm9UejgxTEM0R0tQS0x0U2UzbGFxVjdyQnR6V3hycGVlZm1Wc0JpXzYwTGpGeEppclFkSHhUWk1Id00zYnFfYlBhZDE4ZkFnUmRrcVllb2J1YjlEeVV6NkJCTEYyVW1JTUtZdEdFZ1VpRW1qb2RPWWZMRFlV?oc=5) · CUInsight

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=4365 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/13.json (key "4365", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=4365
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide