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.
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.
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.
