--- title: Multifamily Lenders in South Dakota: 56 Made Loans in 2024-25 url: https://lender.report/multifamily-lenders/south-dakota/ license: https://lender.report/license/ --- Multifamily ยท SD # Multifamily lenders in South Dakota 56 lenders made at least one multifamily loan in South Dakota in 2024 or 2025. Reliabank Dakota made the most in 2025, with 31 of the 227 on record. **Evidence** Lender made at least one multifamily loan in South Dakota in 2024 or 2025 (HMDA, manufactured-home parks excluded) **Data as of** HMDA 2025 **Page last changed** November 11, 2026 **Lenders on record** 56 HMDA, 2025 **Multifamily loans, 2025** 227 HMDA, 2025 Manufactured-home parks excluded **Dollars, 2025** $448M HMDA, 2025 **Loans, 2024** 165 HMDA, 2024 +37.6% in 2025 Cite this Source: The Lender Report, Multifamily lenders in South Dakota, https://lender.report/multifamily-lenders/south-dakota/, data as of December 31, 2025. ## Describe a deal in South Dakota See which of these lenders made loans like yours, at your size and in your place. No account and no form. [Show multifamily loans in South Dakota](https://lender.report/comps/?lane=multifamily&state=SD)[On this list? Find your page](https://lender.report/for-lenders/?from=market) | Lender | Kind | Based in | 2025 loans | 2025 dollars | 2024 loans | | --- | --- | --- | --- | --- | --- | | [Reliabank Dakota](https://lender.report/lender/reliabank-dakota-sd/) [multifamily record](https://lender.report/lender/reliabank-dakota-sd/multifamily/) | Bank | Estelline, SD | 31 | $16.7M | 23 | | [American Bank & Trust](https://lender.report/lender/american-bank-and-trust-sd/) [multifamily record](https://lender.report/lender/american-bank-and-trust-sd/multifamily/) | Bank | Sioux Falls, SD | 20 | $44.2M | 4 | | [Dacotah Bank](https://lender.report/lender/dacotah-bank-sd/) [multifamily record](https://lender.report/lender/dacotah-bank-sd/multifamily/) | Bank | Aberdeen, SD | 19 | $16.4M | 12 | | [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 | 13 | $20.3M | 15 | | [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 | 12 | $6.48M | 18 | | [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 | 11 | $16.1M | 7 | | [CorTrust Bank National Association](https://lender.report/lender/cortrust-bank-sd/) [multifamily record](https://lender.report/lender/cortrust-bank-sd/multifamily/) | Bank | Mitchell, SD | 9 | $6.50M | 5 | | [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 | 9 | $8.87M | 2 | | [BankWest, Inc.](https://lender.report/lender/bankwest-sd/) [multifamily record](https://lender.report/lender/bankwest-sd/multifamily/) | Bank | Pierre, SD | 8 | $25.0M | 9 | | [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 | 7 | $26.5M | 1 | | [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 | $10.9M | 3 | | [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 | 6 | $6.36M | 1 | | [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 | 5 | $5.95M | 4 | | [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 | 5 | $815K | 3 | | [Plains Commerce Bank](https://lender.report/lender/plains-commerce-bank-sd/) [multifamily record](https://lender.report/lender/plains-commerce-bank-sd/multifamily/) | Bank | Sioux Falls, SD | 5 | $3.35M | 2 | | [Cornerstone Bank](https://lender.report/lender/cornerstone-bank-nd/) [multifamily record](https://lender.report/lender/cornerstone-bank-nd/multifamily/) | Bank | Fargo, ND | 4 | $10.0M | 6 | | [Central Bank](https://lender.report/lender/central-bank-ia/) [multifamily record](https://lender.report/lender/central-bank-ia/multifamily/) | Bank | Storm Lake, IA | 4 | $8.80M | 1 | | [Availa Bank](https://lender.report/lender/availa-bank-ia/) [multifamily record](https://lender.report/lender/availa-bank-ia/multifamily/) | Bank | Carroll, IA | 4 | $620K | 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 | $14.0M | 6 | | [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 | 3 | $2.00M | 4 | | [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 | 3 | $8.80M | 3 | | [First Savings Bank](https://lender.report/lender/first-savings-bank-sd/) [multifamily record](https://lender.report/lender/first-savings-bank-sd/multifamily/) | Savings | Beresford, SD | 3 | $6.40M | 1 | | [Black Hills Community Bank, N.A.](https://lender.report/lender/black-hills-community-bank-sd/) | Bank | Rapid City, SD | 3 | $2.00M | 1 | | [First Western Bank & Trust](https://lender.report/lender/first-western-bank-and-trust-nd/) [multifamily record](https://lender.report/lender/first-western-bank-and-trust-nd/multifamily/) | Bank | Minot, ND | 3 | $17.0M | 0 | | [Frontier Bank](https://lender.report/lender/frontier-bank-sd/) [multifamily record](https://lender.report/lender/frontier-bank-sd/multifamily/) | Savings | Sioux Falls, SD | 2 | $1.20M | 3 | HMDA, 2025 [See all 56 multifamily lenders in South Dakota in Loan Comps](https://lender.report/comps/?lane=multifamily&state=SD) - Lenders made 227 multifamily loans totaling $447.6M in South Dakota in 2025, up from 165 loans totaling $320.6M in 2024. HMDA, 2025 - 3 of these loans (2024 and 2025) were made by lenders that have since merged or closed, or that the file lists under a name with no lender record here. They are counted in the totals here and appear in no lender's row. HMDA, 2025 - Banks and savings institutions made 216 of the 2025 loans, credit unions 2, and non-banks 8. HMDA, 2025 - The five most active lenders made 41.9% of South Dakota's multifamily loans in 2025. HMDA, 2025 - American Bank & Trust made the most multifamily dollars in South Dakota in 2025, at $44.2M. HMDA, 2025 - 21 of these lenders are based in South Dakota. HMDA, 2025 - 12 lenders made a loan in South Dakota in 2025 and none in 2024. HMDA, 2025 - 6 lenders made 10 or more loans in South Dakota in 2025. HMDA, 2025 - The typical multifamily loan in South Dakota was about $480K, with the middle half between $200K and $1.4M. HMDA, 2025 - Lenders reported a median rate of 7.35% on 283 loans in South Dakota, with the middle half between 6.87% and 8.00%. HMDA, 2025 - The median term in South Dakota was 5 years. HMDA, 2025 - 36% of multifamily loans in South Dakota were refinancings. HMDA, 2025 - Most recorded loans in South Dakota were in Minnehaha County, SD (125), Pennington County, SD (53), Lincoln County, SD (39). HMDA, 2025 ## How this list is defined **Measure** Multifamily loans made in South Dakota **Period** 2024 and 2025 **Formula** Count, by lender, of HMDA records for multifamily dwellings of 5 or more units placed in South Dakota, manufactured-home parks excluded. A lender is listed if it made at least one. **Order** Largest first by loans made in 2025, then loans in 2024, then dollars in 2025, then name. Payment is not part of the order. **As of** 2025 **Source** [HMDA](https://ffiec.cfpb.gov/data-browser/) **Data** [JSON version of this list](https://lender.report/rankings/multifamily-lenders-by-state.json) **Changelog** November 12, 2026: First published, with the data built on this date. Is your institution on this list? [Show your rank](https://lender.report/for-lenders/badge/). It carries the date and links back to this page. Multifamily loans finance buildings with five or more homes. HMDA is the one public file that lists them loan by loan. HMDA covers dwelling-secured loans. Amounts are the midpoints of $10,000 bands, and each loan has a year, never a date. Each lender is counted only where the public file places the loan. 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.