--- title: Lenders in Sioux Falls, SD-MN: 39 Made Multifamily Loans url: https://lender.report/lenders-in/sioux-falls-sd-mn/ license: https://lender.report/license/ --- Metro area ยท SD # Lenders in Sioux Falls, SD-MN 39 lenders made 170 multifamily loans in the Sioux Falls, SD-MN metro area in 2024 and 2025, $409M in all. Reliabank Dakota made the most, with 51. The typical loan was about $480K. **Evidence** Multifamily loans placed in the metro area, HMDA **Data as of** HMDA 2025 **Page last changed** November 11, 2026 **Lenders on record** 39 HMDA, 2025 **Multifamily loans, 2024-25** 170 HMDA, 2025 Manufactured-home parks excluded **Dollars** $409M HMDA, 2025 **Typical loan** $480K HMDA, 2025 Cite this Source: The Lender Report, Lenders in Sioux Falls, SD-MN, https://lender.report/lenders-in/sioux-falls-sd-mn/, data as of December 31, 2025. ## Describe a deal in Sioux Falls, SD-MN 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 Sioux Falls, SD-MN](https://lender.report/comps/?lane=multifamily&metro=43620)[A lender in Sioux Falls, SD-MN? Find your page](https://lender.report/for-lenders/?from=market) | Lender | Kind | Based in | Loans | Dollars | 2025 loans | 2024 loans | | --- | --- | --- | --- | --- | --- | --- | | [Reliabank Dakota](https://lender.report/lender/reliabank-dakota-sd/) [multifamily record](https://lender.report/lender/reliabank-dakota-sd/multifamily/) | Bank | Estelline, SD | 51 | $19.6M | 29 | 22 | | [First Dakota National Bank](https://lender.report/lender/first-dakota-national-bank-sd/) [multifamily record](https://lender.report/lender/first-dakota-national-bank-sd/multifamily/) | Bank | Yankton, SD | 12 | $20.0M | 8 | 4 | | [Security National Bank of South Dakota](https://lender.report/lender/security-national-bank-of-south-dakota-sd/) [multifamily record](https://lender.report/lender/security-national-bank-of-south-dakota-sd/multifamily/) | Bank | Dakota Dunes, SD | 8 | $31.8M | 7 | 1 | | [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 | 8 | $14.8M | 5 | 3 | | [CorTrust Bank National Association](https://lender.report/lender/cortrust-bank-sd/) [multifamily record](https://lender.report/lender/cortrust-bank-sd/multifamily/) | Bank | Mitchell, SD | 8 | $9.08M | 4 | 4 | | [Cornerstone Bank](https://lender.report/lender/cornerstone-bank-nd/) [multifamily record](https://lender.report/lender/cornerstone-bank-nd/multifamily/) | Bank | Fargo, ND | 7 | $43.0M | 3 | 4 | | [American State Bank](https://lender.report/lender/american-state-bank-ia-sioux-center/) [multifamily record](https://lender.report/lender/american-state-bank-ia-sioux-center/multifamily/) | Bank | Sioux Center, IA | 7 | $21.9M | 3 | 4 | | [The First National Bank in Sioux Falls](https://lender.report/lender/first-national-bank-in-sioux-falls-sd/) [multifamily record](https://lender.report/lender/first-national-bank-in-sioux-falls-sd/multifamily/) | Bank | Sioux Falls, SD | 7 | $8.26M | 7 | 0 | | [First PREMIER Bank](https://lender.report/lender/first-premier-bank-sd/) [multifamily record](https://lender.report/lender/first-premier-bank-sd/multifamily/) | Bank | Sioux Falls, SD | 6 | $8.12M | 4 | 2 | | [BankWest, Inc.](https://lender.report/lender/bankwest-sd/) [multifamily record](https://lender.report/lender/bankwest-sd/multifamily/) | Bank | Pierre, SD | 4 | $20.0M | 3 | 1 | | [Quoin Financial Bank](https://lender.report/lender/quoin-financial-bank-sd/) [multifamily record](https://lender.report/lender/quoin-financial-bank-sd/multifamily/) | Bank | Miller, SD | 4 | $11.3M | 2 | 2 | | [Liberty National Bank](https://lender.report/lender/liberty-national-bank-ia/) [multifamily record](https://lender.report/lender/liberty-national-bank-ia/multifamily/) | Bank | Sioux City, IA | 4 | $2.62M | 2 | 2 | | [Frontier Bank](https://lender.report/lender/frontier-bank-sd/) [multifamily record](https://lender.report/lender/frontier-bank-sd/multifamily/) | Savings | Sioux Falls, SD | 4 | $1.82M | 2 | 2 | | [Central Bank](https://lender.report/lender/central-bank-ia/) [multifamily record](https://lender.report/lender/central-bank-ia/multifamily/) | Bank | Storm Lake, IA | 3 | $8.56M | 3 | 0 | | [First Bank & Trust](https://lender.report/lender/first-bank-and-trust-sd/) [multifamily record](https://lender.report/lender/first-bank-and-trust-sd/multifamily/) | Bank | Brookings, SD | 3 | $6.20M | 1 | 2 | HMDA, 2025 [All 39 lenders in Sioux Falls, SD-MN, by loan size](https://lender.report/multifamily-lenders/sioux-falls-sd-mn/) | County | Loans | Dollars | Lenders | | --- | --- | --- | --- | | [Minnehaha County, SD](https://lender.report/lenders-in/south-dakota/minnehaha-county/) | 125 | $250M | 33 | | [Lincoln County, SD](https://lender.report/lenders-in/south-dakota/lincoln-county/) | 39 | $158M | 18 | 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 | 109 | | $1M to $2.5M | 23 | | $2.5M to $5M | 11 | | $5M to $10M | 15 | | $10M or more | 12 | HMDA, 2025 - Lenders made 170 multifamily loans totaling $409M in Sioux Falls, SD-MN in 2024 and 2025. HMDA, 2025 - 105 of the loans were made in 2025 and 65 in 2024. HMDA, 2025 - The typical loan in Sioux Falls, SD-MN was about $480K, with the middle half between $200K and $2M. HMDA, 2025 - 109 of the loans were under $1M, and 27 were $5M or more. HMDA, 2025 - Lenders reported a median rate of 7.68% on 115 loans in Sioux Falls, SD-MN, with the middle half between 6.75% and 8.25%. HMDA, 2025 - The median term was 5 years. HMDA, 2025 - The median loan to value was 67%. HMDA, 2025 - 31% of the loans were refinancings and 66% were purchases. HMDA, 2025 - Banks and savings institutions made 161 of the loans, credit unions 3, and non-banks 6. HMDA, 2025 - The five most active lenders made 51.2% of the loans. HMDA, 2025 - The three most active lenders were Reliabank Dakota with 51, First Dakota National Bank with 12, and Security National Bank of South Dakota with 8. HMDA, 2025 - 17 of the 39 lenders are based in South Dakota. The rest are based elsewhere, most often in Iowa, Minnesota and North Dakota. HMDA, 2025 - The most common property size was 5 to 24 units, with 96 loans. HMDA, 2025 - 2 counties in the metro area have loans on record, and Minnehaha County, SD has the most, with 125. HMDA, 2025 ## How this list is defined **Measure** Multifamily loans made in the Sioux Falls, SD-MN 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.