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Distressed Note Industry
North Dakota Multifamily Real Estate
Analyzing multifamily real estate loan performance across 48 North Dakota banks
As of Q2 2025, 48 North Dakota banks report multifamily real estate portfolios totaling $3.3B. Non-performing loans in this category total $7.0M — an average NPL ratio of 0.21% — with $4.6M 30-89 days delinquent, $0 90+ days delinquent, and $7.0M in nonaccrual status. The most distressed lender in this category is HEARTLAND STATE BANK (ND) with an NPL ratio of 45.08%.
Total Lenders
48
Total Loan Portfolio
$3.3B
Total NPL
$7.0M
Average NPL %
0.21%
Delinquency Breakdown
30-89 Days
$4.6M
90+ Days
$0
Nonaccrual
$7.0M
Charge-offs
$134K
Banks by NPL Ratio
Distribution of banks by non-performing loan ratio
Top Distressed Banks - Multifamily Real Estate in North Dakota
Highest NPL %| Bank Name | State | Portfolio | NPL | NPL % |
|---|---|---|---|---|
| HEARTLAND STATE BANK | ND | $2.1M | $935K | 45.08% |
| CORNERSTONE BANK | ND | $117.4M | $4.8M | 4.10% |
| BRAVERA BANK | ND | $93.1M | $865K | 0.93% |
| ALERUS FINANCIAL, NATIONAL ASSOCIATION | ND | $333.3M | $216K | 0.06% |
| CHOICE FINANCIAL GROUP | ND | $267.3M | $155K | 0.06% |
Multifamily Real Estate in Other States
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
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Illinois
Indiana
Iowa
Kansas
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Minnesota
Mississippi
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Nebraska
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New Hampshire
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New Mexico
New York
North Carolina
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
District of Columbia
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