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Distressed Note Industry
Minnesota Multifamily Real Estate
Analyzing multifamily real estate loan performance across 175 Minnesota banks
As of Q2 2025, 175 Minnesota banks report multifamily real estate portfolios totaling $5.3B. Non-performing loans in this category total $28.6M — an average NPL ratio of 0.54% — with $20.5M 30-89 days delinquent, $72K 90+ days delinquent, and $28.5M in nonaccrual status. The most distressed lender in this category is STATE BANK OF LAKE PARK (MN) with an NPL ratio of 100.00%.
Total Lenders
175
Total Loan Portfolio
$5.3B
Total NPL
$28.6M
Average NPL %
0.54%
Delinquency Breakdown
30-89 Days
$20.5M
90+ Days
$72K
Nonaccrual
$28.5M
Charge-offs
$361K
Banks by NPL Ratio
Distribution of banks by non-performing loan ratio
Top Distressed Banks - Multifamily Real Estate in Minnesota
Highest NPL %| Bank Name | State | Portfolio | NPL | NPL % |
|---|---|---|---|---|
| STATE BANK OF LAKE PARK | MN | $400K | $400K | 100.00% |
| RED RIVER STATE BANK | MN | $9.1M | $8.4M | 92.38% |
| COMMUNITY FIRST BANK | MN | $2.8M | $796K | 28.44% |
| FORESIGHT BANK | MN | $15.1M | $2.5M | 16.75% |
| NORTHVIEW BANK | MN | $22.6M | $1.6M | 7.18% |
| FIRST STATE BANK OF RED WING, THE | MN | $1.1M | $72K | 6.75% |
| STEARNS BANK NATIONAL ASSOCIATION | MN | $120.6M | $5.1M | 4.21% |
| PIONEER BANK | MN | $49.8M | $2.0M | 4.00% |
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Multifamily Real Estate in Other States
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District of Columbia
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