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Distressed Note Industry
Minnesota Multifamily Real Estate
Analyzing multifamily real estate loan performance across 174 Minnesota banks
As of Q3 2025, 174 Minnesota banks report multifamily real estate portfolios totaling $5.4B. Non-performing loans in this category total $25.4M — an average NPL ratio of 0.47% — with $11.0M 30-89 days delinquent, $111K 90+ days delinquent, and $25.3M 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
174
Total Loan Portfolio
$5.4B
Total NPL
$25.4M
Average NPL %
0.47%
Delinquency Breakdown
30-89 Days
$11.0M
90+ Days
$111K
Nonaccrual
$25.3M
Charge-offs
$580K
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 | $8.3M | 91.38% |
| COMMUNITY FIRST BANK | MN | $2.0M | $551K | 27.09% |
| FORESIGHT BANK | MN | $15.0M | $2.5M | 16.86% |
| VISIONBANK | MN | $16.6M | $1.9M | 11.68% |
| STEARNS BANK NATIONAL ASSOCIATION | MN | $115.5M | $5.1M | 4.40% |
| UNITED BANKERS BANK | MN | $72.3M | $1.8M | 2.46% |
| SUNRISE BANKS, NATIONAL ASSOCIATION | MN | $272.4M | $4.6M | 1.71% |
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Multifamily Real Estate in Other States
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District of Columbia
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