County · SD
Multifamily lenders in Minnehaha County, SD
33 lenders made 125 multifamily loans in Minnehaha County, SD in 2024 and 2025, $250.4M in all. Reliabank Dakota made the most, with 41. The typical loan was about $460K. The county is part of the Sioux Falls, SD-MN metro area.
- Evidence
- Multifamily loans placed in the county, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Lenders on record
- 33
- HMDA,
- Multifamily loans, 2024-25
- 125
- HMDA,
- Manufactured-home parks excluded
- Dollars
- $250M
- HMDA,
- Typical loan
- $460K
- HMDA,
Cite this
Source: The Lender Report, Multifamily lenders in Minnehaha County, SD, https://lender.report/lenders-in/south-dakota/minnehaha-county/, data as of December 31, 2025.
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| Lender | Kind | Based in | Loans | Dollars | 2025 loans | 2024 loans | Typical loan |
|---|---|---|---|---|---|---|---|
| Reliabank Dakota multifamily record | Bank | Estelline, SD | 41 | $17.9M | 24 | 17 | $200K |
| Cornerstone Bank multifamily record | Bank | Fargo, ND | 7 | $43.0M | 3 | 4 | $7.2M |
| First Dakota National Bank multifamily record | Bank | Yankton, SD | 7 | $15.0M | 3 | 4 | $500K |
| First Interstate Bank multifamily record | Bank | Billings, MT | 6 | $13.6M | 4 | 2 | $500K |
| The First National Bank in Sioux Falls multifamily record | Bank | Sioux Falls, SD | 6 | $8.08M | 6 | 0 | $1.2M |
| CorTrust Bank National Association multifamily record | Bank | Mitchell, SD | 6 | $5.08M | 3 | 3 | $240K |
| Security National Bank of South Dakota multifamily record | Bank | Dakota Dunes, SD | 5 | $10.4M | 4 | 1 | $1.3M |
| First PREMIER Bank multifamily record | Bank | Sioux Falls, SD | 5 | $6.62M | 4 | 1 | $1.2M |
| American State Bank multifamily record | Bank | Sioux Center, IA | 5 | $3.46M | 3 | 2 | $720K |
| BankWest, Inc. multifamily record | Bank | Pierre, SD | 4 | $20.0M | 3 | 1 | $5.6M |
| Frontier Bank multifamily record | Savings | Sioux Falls, SD | 4 | $1.82M | 2 | 2 | $520K |
| Dacotah Bank multifamily record | Bank | Aberdeen, SD | 3 | $310K | 2 | 1 | $95K |
| CBRE Multifamily Capital, Inc. multifamily record | Non-bank | Houston, TX | 2 | $27.2M | 0 | 2 | $18M |
| PNC Bank, National Association multifamily record | Bank | Wilmington, DE | 2 | $15.4M | 2 | 0 | $12M |
| Security Savings Bank | Bank | Canton, SD | 2 | $640K | 1 | 1 | $340K |
| First Savings Bank multifamily record | Savings | Beresford, SD | 2 | $620K | 2 | 0 | $460K |
| Central Bank multifamily record | Bank | Storm Lake, IA | 2 | $560K | 2 | 0 | $280K |
| Colliers Mortgage LLC multifamily record | Non-bank | Minneapolis, MN | 1 | $21.0M | 1 | 0 | $21M |
| Northwest Bank multifamily record | Bank | Spencer, IA | 1 | $13.0M | 1 | 0 | $13M |
| First Western Bank & Trust multifamily record | Bank | Minot, ND | 1 | $7.50M | 1 | 0 | $7.5M |
| WaterStone Bank, SSB multifamily record | Savings | Wauwatosa, WI | 1 | $5.20M | 0 | 1 | $5.2M |
| The Security National Bank of Sioux City, Iowa multifamily record | Bank | Sioux City, IA | 1 | $3.80M | 0 | 1 | $3.8M |
| ReadyCap Commercial LLC multifamily record | Non-bank | Berkeley Heights, NJ | 1 | $2.00M | 1 | 0 | $2M |
| Plains Commerce Bank multifamily record | Bank | Sioux Falls, SD | 1 | $1.80M | 1 | 0 | $1.8M |
| First Bank & Trust multifamily record | Bank | Brookings, SD | 1 | $1.60M | 1 | 0 | $1.6M |
| Rivers Edge Bank multifamily record | Bank | Marion, SD | 1 | $1.50M | 1 | 0 | $1.5M |
| Bank of Dixon County | Bank | Ponca, NE | 1 | $800K | 1 | 0 | $800K |
| Black Hills Credit Union | Credit union | Rapid City, SD | 1 | $700K | 1 | 0 | $700K |
| Quoin Financial Bank multifamily record | Bank | Miller, SD | 1 | $480K | 0 | 1 | $480K |
| Minnwest Bank multifamily record | Bank | Redwood Falls, MN | 1 | $420K | 0 | 1 | $420K |
| Loan size | Loans | Lenders |
|---|---|---|
| Under $1M | 86 | 22 |
| $1M to $2.5M | 14 | 12 |
| $2.5M to $5M | 9 | 7 |
| $5M to $10M | 9 | 7 |
| $10M or more | 7 | 7 |
- Lenders made 125 multifamily loans totaling $250.4M in Minnehaha County, SD in 2024 and 2025. HMDA,
- 77 of the loans were made in 2025 and 48 in 2024. HMDA,
- The typical loan in Minnehaha County, SD was about $460K, with the middle half between $200K and $1.3M. HMDA,
- 86 of the loans were under $1M, and 16 were $5M or more. HMDA,
- Lenders reported a median rate of 7.85% on 88 loans in Minnehaha County, SD, with the middle half between 6.95% and 8.25%. HMDA,
- The median term was 5 years. HMDA,
- The median loan to value was 66%. HMDA,
- 32% of the loans were refinancings and 64% were purchases. HMDA,
- Banks and savings institutions made 120 of the loans, credit unions 1, and non-banks 4. HMDA,
- The five most active lenders made 53.6% of the loans. HMDA,
- The three most active lenders were Reliabank Dakota with 41, Cornerstone Bank with 7, and First Dakota National Bank with 7. HMDA,
- 16 of the 33 lenders are based in South Dakota. The rest are based elsewhere, most often in Iowa, North Dakota and Minnesota. HMDA,
- The most common property size was 5 to 24 units, with 67 loans. HMDA,
- Minnehaha County, SD is part of the Sioux Falls, SD-MN metro area, which has its own page. OMB metro list,
How this list is defined
- Measure
- Multifamily loans made in Minnehaha County, SD
- Period
- 2024 and 2025
- Formula
- Count, by lender, of HMDA records for multifamily dwellings of 5 or more units placed in the county, manufactured-home parks excluded, for each year in which the public file holds 5 or more such loans in the county.
- 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
- Changelog
- : 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.
SBA loans are on record by state only, so this page has no SBA figures for the county. The state pages carry them.
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
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.