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Distressed Note Industry
Minnesota Residential Real Estate
Analyzing residential real estate loan performance across 487 Minnesota banks
As of Q3 2025, 487 Minnesota banks report residential real estate portfolios totaling $28.7B. Non-performing loans in this category total $100.7M — an average NPL ratio of 0.35% — with $136.4M 30-89 days delinquent, $17.9M 90+ days delinquent, and $82.8M in nonaccrual status. The most distressed lender in this category is FIRST SECURITY BANK - SLEEPY EYE (MN) with an NPL ratio of 10.50%.
Total Lenders
487
Total Loan Portfolio
$28.7B
Total NPL
$100.7M
Average NPL %
0.35%
Delinquency Breakdown
30-89 Days
$136.4M
90+ Days
$17.9M
Nonaccrual
$82.8M
Charge-offs
$589K
Banks by NPL Ratio
Distribution of banks by non-performing loan ratio
Top Distressed Banks - Residential Real Estate in Minnesota
Highest NPL %| Bank Name | State | Portfolio | NPL | NPL % |
|---|---|---|---|---|
| FIRST SECURITY BANK - SLEEPY EYE | MN | $6.5M | $680K | 10.50% |
| FIRST STATE BANK OF BIGFORK | MN | $1.1M | $82K | 7.69% |
| FIRST FARMERS & MERCHANTS STATE BANK OF GRAND MEADOW | MN | $9.0M | $403K | 4.49% |
| FIRST STATE BANK OF SWANVILLE | MN | $2.3M | $104K | 4.46% |
| FIRST STATE BANK OF BIGFORK | MN | $36.8M | $1.6M | 4.25% |
| FIRST STATE BANK OF BIGFORK | MN | $35.2M | $1.5M | 4.21% |
| FIRST FARMERS & MERCHANTS STATE BANK OF GRAND MEADOW | MN | $10.3M | $403K | 3.90% |
| FIRST STATE BANK OF SWANVILLE | MN | $2.7M | $104K | 3.83% |
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Residential Real Estate in Other States
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