--- title: Lenders in Rapid City, SD: 16 Made Multifamily Loans in 2024-25 url: https://lender.report/lenders-in/rapid-city-sd/ license: https://lender.report/license/ --- Metro area ยท SD # Lenders in Rapid City, SD 16 lenders made 68 multifamily loans in the Rapid City, SD metro area in 2024 and 2025, $143M in all. Security First Bank made the most, with 28. The typical loan was about $740K. **Evidence** Multifamily loans placed in the metro area, HMDA **Data as of** HMDA 2025 **Page last changed** November 11, 2026 **Lenders on record** 16 HMDA, 2025 **Multifamily loans, 2024-25** 68 HMDA, 2025 Manufactured-home parks excluded **Dollars** $143M HMDA, 2025 **Typical loan** $740K HMDA, 2025 Cite this Source: The Lender Report, Lenders in Rapid City, SD, https://lender.report/lenders-in/rapid-city-sd/, data as of December 31, 2025. ## Describe a deal in Rapid City, SD This page lists who has made multifamily loans here. Loan Comps shows who has made a loan like yours, with the loans to prove it. [Start with a deal in Rapid City, SD](https://lender.report/comps/?lane=multifamily&metro=39660)[A lender in Rapid City, SD? Find your page](https://lender.report/for-lenders/?from=market) | Lender | Kind | Based in | Loans | Dollars | 2025 loans | 2024 loans | | --- | --- | --- | --- | --- | --- | --- | | [Security First Bank](https://lender.report/lender/security-first-bank-ne/) [multifamily record](https://lender.report/lender/security-first-bank-ne/multifamily/) | Bank | Lincoln, NE | 28 | $11.7M | 12 | 16 | | [Dacotah Bank](https://lender.report/lender/dacotah-bank-sd/) [multifamily record](https://lender.report/lender/dacotah-bank-sd/multifamily/) | Bank | Aberdeen, SD | 9 | $20.8M | 5 | 4 | | [Pioneer Bank & Trust](https://lender.report/lender/pioneer-bank-and-trust-sd/) [multifamily record](https://lender.report/lender/pioneer-bank-and-trust-sd/multifamily/) | Bank | Belle Fourche, SD | 6 | $11.3M | 3 | 3 | | [BankWest, Inc.](https://lender.report/lender/bankwest-sd/) [multifamily record](https://lender.report/lender/bankwest-sd/multifamily/) | Bank | Pierre, SD | 5 | $41.6M | 1 | 4 | | [Black Hills Credit Union](https://lender.report/lender/black-hills-credit-union-sd/) | Credit union | Rapid City, SD | 3 | $8.50M | 0 | 3 | | [First Interstate Bank](https://lender.report/lender/first-interstate-bank-mt/) [multifamily record](https://lender.report/lender/first-interstate-bank-mt/multifamily/) | Bank | Billings, MT | 3 | $1.54M | 2 | 1 | | [Berkadia Commercial Mortgage](https://lender.report/lender/berkadia-commercial-mortgage-pa/) [multifamily record](https://lender.report/lender/berkadia-commercial-mortgage-pa/multifamily/) | Non-bank | Ambler, PA | 2 | $11.3M | 1 | 1 | | [First National Bank](https://lender.report/lender/first-national-bank-sd-fort-pierre/) [multifamily record](https://lender.report/lender/first-national-bank-sd-fort-pierre/multifamily/) | Bank | Fort Pierre, SD | 2 | $3.80M | 2 | 0 | | [Black Hills Community Bank, N.A.](https://lender.report/lender/black-hills-community-bank-sd/) | Bank | Rapid City, SD | 2 | $2.06M | 1 | 1 | | [Walker & Dunlop, LLC](https://lender.report/lender/walker-and-dunlop-md/) [multifamily record](https://lender.report/lender/walker-and-dunlop-md/multifamily/) | Non-bank | Bethesda, MD | 1 | $13.0M | 0 | 1 | | [First International Bank & Trust](https://lender.report/lender/first-international-bank-and-trust-nd/) [multifamily record](https://lender.report/lender/first-international-bank-and-trust-nd/multifamily/) | Bank | Watford City, ND | 1 | $6.00M | 1 | 0 | | [Bank Five Nine](https://lender.report/lender/bank-five-nine-wi/) [multifamily record](https://lender.report/lender/bank-five-nine-wi/multifamily/) | Bank | Oconomowoc, WI | 1 | $5.00M | 1 | 0 | | [Bridgewater Bank](https://lender.report/lender/bridgewater-bank-mn/) [multifamily record](https://lender.report/lender/bridgewater-bank-mn/multifamily/) | Bank | Saint Louis Park, MN | 1 | $1.80M | 0 | 1 | | [Bell Bank](https://lender.report/lender/bell-bank-nd/) [multifamily record](https://lender.report/lender/bell-bank-nd/multifamily/) | Bank | Fargo, ND | 1 | $1.20M | 0 | 1 | | [Reliabank Dakota](https://lender.report/lender/reliabank-dakota-sd/) [multifamily record](https://lender.report/lender/reliabank-dakota-sd/multifamily/) | Bank | Estelline, SD | 1 | $660K | 1 | 0 | HMDA, 2025 [All 16 lenders in Rapid City, SD, by loan size](https://lender.report/multifamily-lenders/rapid-city-sd/) | County | Loans | Dollars | Lenders | | --- | --- | --- | --- | | [Pennington County, SD](https://lender.report/lenders-in/south-dakota/pennington-county/) | 53 | $106M | 14 | | Meade County, SD | 10 | $23.6M | 4 | HMDA, 2025 A county is listed for a year only when the public file holds 5 or more multifamily loans there that year. | Loan size | Loans | | --- | --- | | Under $1M | 41 | | $1M to $2.5M | 11 | | $2.5M to $5M | 7 | | $5M to $10M | 7 | | $10M or more | 2 | HMDA, 2025 - Lenders made 68 multifamily loans totaling $143M in Rapid City, SD in 2024 and 2025. HMDA, 2025 - 1 of these loans was made by lenders that have since merged or closed. They are counted in the totals here and appear in no lender's row. HMDA, 2025 - 31 of the loans were made in 2025 and 37 in 2024. HMDA, 2025 - The typical loan in Rapid City, SD was about $740K, with the middle half between $220K and $2.3M. HMDA, 2025 - 41 of the loans were under $1M, and 9 were $5M or more. HMDA, 2025 - Lenders reported a median rate of 7.00% on 57 loans in Rapid City, SD, with the middle half between 6.75% and 7.50%. HMDA, 2025 - The median term was 5 years. HMDA, 2025 - The median loan to value was 62%. HMDA, 2025 - 43% of the loans were refinancings and 50% were purchases. HMDA, 2025 - Banks and savings institutions made 61 of the loans, credit unions 3, and non-banks 3. HMDA, 2025 - The five most active lenders made 75.0% of the loans. HMDA, 2025 - The three most active lenders were Security First Bank with 28, Dacotah Bank with 9, and Pioneer Bank & Trust with 6. HMDA, 2025 - 8 of the 16 lenders are based in South Dakota. The rest are based elsewhere, most often in North Dakota, Maryland and Minnesota. HMDA, 2025 - The most common property size was 5 to 24 units, with 33 loans. HMDA, 2025 - 2 counties in the metro area have loans on record, and Pennington County, SD has the most, with 53. HMDA, 2025 ## How this list is defined **Measure** Multifamily loans made in the Rapid City, SD metro area **Period** 2024 and 2025 **Formula** Count, by lender, of HMDA records for multifamily dwellings of 5 or more units placed in the metro area, manufactured-home parks excluded, for each year in which the public file holds 5 or more such loans there. **Order** Largest first by loans recorded in the place, then dollars, then name. Payment is not part of the order. **As of** 2025 **Source** [HMDA](https://ffiec.cfpb.gov/data-browser/) **Changelog** November 12, 2026: First published, with the data built on this date. ## What we don't know - Whether any of these lenders is taking new loans today. - What they charge or require beyond the rate and term that HMDA reports. - Loans on office, retail, industrial or hotel property. HMDA covers dwelling-secured loans only. A metro area or county is named for a year only when the public file holds 5 or more multifamily loans there that year, so a small place is never exposed by a count. HMDA covers dwelling-secured loans. Amounts are the midpoints of $10,000 bands, and each loan has a year, never a date. Lenders that merged or stopped filing are left out. Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. [Report a problem](https://lender.report/report/) Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.