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Distressed Note Industry
Michigan Construction & Development
Analyzing construction & development loan performance across 197 Michigan banks
As of Q2 2025, 197 Michigan banks report construction & development portfolios totaling $5.3B. Non-performing loans in this category total $49.6M — an average NPL ratio of 0.93% — with $30.7M 30-89 days delinquent, $708K 90+ days delinquent, and $48.9M in nonaccrual status. The most distressed lender in this category is OXFORD BANK (MI) with an NPL ratio of 34.31%.
Total Lenders
197
Total Loan Portfolio
$5.3B
Total NPL
$49.6M
Average NPL %
0.93%
Delinquency Breakdown
30-89 Days
$30.7M
90+ Days
$708K
Nonaccrual
$48.9M
Charge-offs
$78K
Banks by NPL Ratio
Distribution of banks by non-performing loan ratio
Top Distressed Banks - Construction & Development in Michigan
Highest NPL %| Bank Name | State | Portfolio | NPL | NPL % |
|---|---|---|---|---|
| OXFORD BANK | MI | $16.0M | $5.5M | 34.31% |
| OXFORD BANK | MI | $21.9M | $5.5M | 25.11% |
| GOGEBIC RANGE BANK | MI | $1.4M | $263K | 19.10% |
| GOGEBIC RANGE BANK | MI | $1.6M | $263K | 16.37% |
| NORTHSTAR BANK | MI | $26.8M | $2.6M | 9.73% |
| NORTHPOINTE BANK | MI | $28.2M | $2.6M | 9.05% |
| NORTHSTAR BANK | MI | $31.5M | $2.6M | 8.25% |
| FIRST STATE BANK | MI | $1.1M | $80K | 7.24% |
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Construction & Development in Other States
Alabama
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Oregon
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Rhode Island
South Carolina
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Tennessee
Texas
Utah
Vermont
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Washington
West Virginia
Wisconsin
Wyoming
District of Columbia
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