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Distressed Note Industry
Minnesota Construction & Development
Analyzing construction & development loan performance across 420 Minnesota banks
As of Q2 2025, 420 Minnesota banks report construction & development portfolios totaling $5.6B. Non-performing loans in this category total $57.3M — an average NPL ratio of 1.03% — with $25.4M 30-89 days delinquent, $2.0M 90+ days delinquent, and $55.3M in nonaccrual status. The most distressed lender in this category is FIRST FINANCIAL BANK IN WINNEBAGO (MN) with an NPL ratio of 100.00%.
Total Lenders
420
Total Loan Portfolio
$5.6B
Total NPL
$57.3M
Average NPL %
1.03%
Delinquency Breakdown
30-89 Days
$25.4M
90+ Days
$2.0M
Nonaccrual
$55.3M
Charge-offs
$279K
Banks by NPL Ratio
Distribution of banks by non-performing loan ratio
Top Distressed Banks - Construction & Development in Minnesota
Highest NPL %| Bank Name | State | Portfolio | NPL | NPL % |
|---|---|---|---|---|
| FIRST FINANCIAL BANK IN WINNEBAGO | MN | $221K | $221K | 100.00% |
| NORTHWOODS BANK OF MINNESOTA | MN | $1.4M | $678K | 47.75% |
| FIRST STATE BANK SOUTHWEST | MN | $5.5M | $999K | 18.21% |
| PRIME SECURITY BANK | MN | $3.1M | $550K | 17.58% |
| NORTHWOODS BANK OF MINNESOTA | MN | $4.3M | $678K | 15.71% |
| PRIME SECURITY BANK | MN | $4.4M | $550K | 12.39% |
| MINNSTAR BANK NATIONAL ASSOCIATION | MN | $10.7M | $1.3M | 12.31% |
| STEARNS BANK NATIONAL ASSOCIATION | MN | $421.9M | $31.6M | 7.50% |
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Construction & Development in Other States
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