The 55 banks headquartered in South Dakota report $162.4 billion in total CRE loans, up +1.0% year over year. The top five account for 94.7% of that amount, reflecting the scale of Wells Fargo Bank, N.A. and Citibank, N.A. Borrowers should treat the table as a starting point rather than a prediction of approval. Portfolio size indicates appetite and potential hold capacity, while property mix, recent growth and CRE concentration provide additional context. Bank lending remains relationship driven and local. A large nationwide portfolio does not establish that a bank is actively seeking every property type, transaction size or South Dakota market.
South Dakota banks ranked by total CRE loans
| Rank | Bank | Headquarters | Total CRE loans ($M) | Construction and land ($M) | Multifamily ($M) | Owner occupied ($M) | Change, 1 year | CRE share of loans |
|---|---|---|---|---|---|---|---|---|
| 1 | Wells Fargo Bank, N.A. | Sioux Falls, SD | $121,623 | $12,464 | $26,549 | $17,825 | +0.3% | 12.2% |
| 2 | Citibank, N.A. | Sioux Falls, SD | $26,036 | $7,993 | $8,259 | $845 | +2.9% | 3.4% |
| 3 | The Bancorp Bank, N.A. | Sioux Falls, SD | $3,130 | $22.0 | $2,267 | $713 | +1.6% | 43.5% |
| 4 | First Bank & Trust | Brookings, SD | $1,555 | $255 | $288 | $497 | -3.2% | 43.5% |
| 5 | Dacotah Bank | Aberdeen, SD | $1,413 | $295 | $154 | $315 | +4.6% | 34.6% |
| 6 | First Dakota National Bank | Yankton, SD | $1,367 | $165 | $111 | $526 | +12.5% | 47.6% |
| 7 | Sunrise Banks, N.A. | Sioux Falls, SD | $1,091 | $82.7 | $259 | $306 | +3.8% | 60.4% |
| 8 | First National Bank | Fort Pierre, SD | $861 | $128 | $149 | $185 | +14.7% | 54.8% |
| 9 | First Savings Bank | Beresford, SD | $741 | $61.9 | $139 | $85.2 | +6.7% | 61.5% |
| 10 | American Bank & Trust | Sioux Falls, SD | $599 | $56.3 | $174 | $82.0 | +3.5% | 37.6% |
| 11 | CorTrust Bank, N.A. | Mitchell, SD | $516 | $71.7 | $76.0 | $171 | +2.8% | 50.9% |
| 12 | BankWest, Inc. | Pierre, SD | $516 | $149 | $104 | $83.3 | +16.2% | 36.6% |
| 13 | First PREMIER Bank | Sioux Falls, SD | $462 | $123 | $105 | $166 | -7.8% | 21.6% |
| 14 | The First National Bank in Sioux Falls | Sioux Falls, SD | $365 | $46.0 | $55.7 | $176 | +8.9% | 23.0% |
| 15 | Plains Commerce Bank | Sioux Falls, SD | $323 | $72.3 | $43.0 | $40.2 | +7.3% | 29.8% |
| 16 | Black Hills Community Bank, N.A. | Rapid City, SD | $243 | $48.9 | $20.5 | $83.3 | +2.3% | 65.0% |
| 17 | Pioneer Bank & Trust | Belle Fourche, SD | $241 | $72.1 | $17.7 | $96.4 | -0.2% | 44.0% |
| 18 | Reliabank Dakota | Estelline, SD | $202 | $30.7 | $28.0 | $70.1 | +9.9% | 38.1% |
| 19 | 1st Financial Bank USA | Dakota Dunes, SD | $189 | $159 | $23.6 | $5.8 | +27.6% | 19.1% |
| 20 | First National Bank | Oldham, SD | $138 | $9.0 | $37.6 | $23.9 | -2.1% | 37.7% |
| 21 | BankStar Financial | Elkton, SD | $114 | $8.2 | $38.4 | $20.4 | +12.8% | 40.0% |
| 22 | Frontier Bank | Sioux Falls, SD | $101 | $7.8 | $16.6 | $24.8 | +0.1% | 42.0% |
| 23 | Security Savings Bank | Canton, SD | $97.0 | $5.5 | $12.9 | $49.3 | -0.5% | 22.7% |
| 24 | Pathward, N.A. | Sioux Falls, SD | $85.5 | $22.8 | $0.0 | $44.6 | -9.5% | 1.6% |
| 25 | Security National Bank of South Dakota | Dakota Dunes, SD | $79.1 | $3.3 | $36.8 | $14.8 | +6.7% | 45.8% |
Source: FDIC Call Reports as of June 30, 2026 (schedule RC-C). Dollar figures in millions. Change, 1 year compares total CRE loans with June 30, 2025. Bank names link to each bank’s FDIC record. Table shows the top 25 of 55 banks headquartered in South Dakota.
Wells Fargo Bank, N.A. leads with $121.6 billion of CRE loans, including $64.8 billion of investor nonfarm nonresidential loans and $26.5 billion of multifamily loans. Citibank, N.A. follows at $26.0 billion, with $8.0 billion in construction and land loans and $8.3 billion in multifamily loans. The Bancorp Bank, N.A. is more concentrated in multifamily, which represents $2.3 billion of its $3.1 billion CRE portfolio. Among other banks, First Dakota National Bank grew +12.5%, First National Bank of Fort Pierre grew +14.7%, and BankWest, Inc. grew +16.2%. Black Hills Community Bank, N.A. reports CRE equal to 65.0% of total loans and an investor CRE to equity ratio of 3.10x, both high relative to much of the table. By contrast, Citibank, N.A. reports CRE equal to 3.4% of loans and a 0.15x investor CRE to equity ratio.
Out of state banks with branches in South Dakota
| Bank | Headquarters state | Branches in South Dakota | Deposits in South Dakota ($M) | Total CRE loans, all states ($M) |
|---|---|---|---|---|
| First Interstate Bank | Montana | 46 | $3,426 | $8,497 |
| U.S. Bank, N.A. | Ohio | 10 | $1,483 | $50,718 |
| First National Bank of Omaha | Nebraska | 3 | $476 | $6,021 |
| Security First Bank | Nebraska | 3 | $468 | $691 |
| Central Bank | Iowa | 6 | $412 | $1,000 |
| Liberty National Bank | Iowa | 5 | $348 | $213 |
| BMO Bank, N.A. | Illinois | 7 | $215 | $28,802 |
| Minnwest Bank | Minnesota | 6 | $210 | $1,143 |
| Premier Bank | Iowa | 2 | $181 | $83.4 |
| Legends West Bank | Nebraska | 1 | $107 | $65.3 |
| BankNorth | North Dakota | 2 | $105 | $43.3 |
| Elkhorn Valley Bank & Trust | Nebraska | 1 | $98.2 | $392 |
Source: FDIC Summary of Deposits 2026. Deposits and branches are for South Dakota only; CRE loans are bank wide.
Portfolio size, mix and growth guide a focused loan search
A borrower can use the ranking to identify banks whose reported portfolios align with a proposed property. Total CRE loans provide a measure of demonstrated appetite and potential hold capacity. The category mix then shows whether a bank’s book is weighted toward construction and land, multifamily, owner occupied real estate or investor nonfarm nonresidential property. Recent growth identifies institutions adding CRE loans, although it does not establish current credit terms or approval standards. BestCRE suggests using these signals to form a practical call list and then confirming current interest directly with each bank.
The table should not be read as an offer of credit. First Bank & Trust reports $1.6 billion in CRE loans but a year over year change of -3.2%, while First Dakota National Bank reports $1.4 billion and growth of +12.5%. Those figures provide useful context about portfolio direction, not the outcome of a specific request. Borrowers should compare several banks, describe the asset and requested financing consistently, and ask whether the institution is currently active in that property type and market. Existing deposit and banking relationships may also matter because commercial bank lending is relationship driven and local.
Get your deal in front of the right lenders in South Dakota
Tell BestCRE about the property, the loan amount and the timeline. We package the request and bring back term sheets from banks, debt funds, life companies, CMBS, agency and SBA lenders, so you compare more than the bank down the street.
Tell Us About Your DealHow BestCRE Capital WorksLoan mix and concentration reveal distinct areas of activity
The reported mix differs substantially across South Dakota headquartered banks. Wells Fargo Bank, N.A. has $64.8 billion in investor nonfarm nonresidential loans, its largest CRE category, while Citibank, N.A. reports a more balanced $8.9 billion in that category, $8.3 billion in multifamily and $8.0 billion in construction and land. The Bancorp Bank, N.A. stands out for $2.3 billion in multifamily loans within a $3.1 billion CRE portfolio. Dacotah Bank’s largest category is $649.2 million of investor nonfarm nonresidential loans, while First Dakota National Bank reports $525.8 million of owner occupied loans.
Concentration measures show how important CRE is within each institution. Sunrise Banks, N.A. reports CRE equal to 60.4% of total loans and an investor CRE to equity ratio of 3.07x. First Savings Bank reports 61.5% and 2.13x, while Black Hills Community Bank, N.A. reports 65.0% and 3.10x. Those ratios are high relative to many banks in the table and can indicate that an institution will be selective as it manages exposure. Lower concentration does not necessarily mean less capacity. Wells Fargo Bank, N.A. has the largest CRE portfolio in the ranking, while CRE represents 12.2% of its total loans.
Local branches and nonbank lenders broaden the financing set
This ranking covers banks headquartered in South Dakota, but banks based elsewhere also serve the state through local branches. The FDIC Summary of Deposits 2026 shows First Interstate Bank, headquartered in Montana, with 46 South Dakota branches and $3.4 billion of deposits in the state. U.S. Bank, N.A., headquartered in Ohio, has 10 branches and $1.5 billion of South Dakota deposits. First National Bank of Omaha has 3 branches and $475.8 million of deposits. Their total CRE portfolios across all states are $8.5 billion, $50.7 billion and $6.0 billion, respectively.
Borrowers can also compare banks with debt funds, life companies, CMBS lenders, agency lenders and SBA lenders. These nonbank sources do not appear in FDIC Call Reports and therefore are not included in the ranking. Comparing several sources matters because lender categories differ in where they are active, and reported bank portfolio size alone cannot establish fit for a particular request. A broader search can test bank relationship options against other sources while keeping the requested amount, property information and transaction structure consistent. The result is a clearer comparison of available financing paths without treating any single ranking as a substitute for direct lender discussions.
Frequently Asked Questions
What date does the South Dakota CRE lender ranking use?
The ranking uses FDIC Call Reports as of June 30, 2026. These Reports of Condition and Income provide standardized balance sheet information, including the commercial real estate categories reported on schedule RC-C. Benchmark rates are shown separately as of Oct 26, 2026, including a Prime rate of 7.00%, SOFR of 3.89%, a 5 year Treasury of 4.78%, a 10 year Treasury of 4.96% and Fed funds of 3.88%. The different dates should be kept distinct because the ranking describes reported loan portfolios, while benchmark rates provide later market context.
What loans count toward total commercial real estate loans?
The total combines the CRE categories reported in FDIC Call Reports: construction and land, multifamily, owner occupied, and investor nonfarm nonresidential loans. Across the 25 ranked banks, those categories total $22.4 billion, $39.0 billion, $22.4 billion and $78.3 billion, respectively, with overall CRE loans of $162.1 billion. The categories help borrowers distinguish institutions with different reported portfolio mixes. They do not describe individual loan products, current underwriting criteria or whether a bank will pursue a particular property. Those details require direct confirmation from the institution.
Why does a South Dakota bank have a high national rank?
The ranking is based on bank headquarters, not the location of every property or borrower in the portfolio. Wells Fargo Bank, N.A. and Citibank, N.A. are headquartered in Sioux Falls and report CRE loans across all states. Wells Fargo Bank, N.A. has $121.6 billion of CRE loans and ranks 2 nationally. Citibank, N.A. has $26.0 billion and ranks 19 nationally. Their presence makes South Dakota’s headquarters based totals unusually large, but the figures should not be interpreted as the volume of loans made only within South Dakota.
Which ranked South Dakota banks reported the fastest CRE growth?
Among the ranked institutions, 1st Financial Bank USA reports the largest stated year over year increase at +27.6%, reaching $188.9 million in total CRE loans. BankWest, Inc. reports growth of +16.2% and a $516.1 million portfolio. First National Bank of Fort Pierre reports +14.7% and $861.4 million, while BankStar Financial reports +12.8% and $113.9 million. Growth can help identify banks adding CRE exposure, but it does not show the terms, property preferences or current capacity associated with any new loan request.
How broad is the FDIC comparison behind this ranking?
The national comparison includes 4,167 banks with $3.07 trillion in total CRE loans. Within South Dakota, 55 headquartered banks report $162.4 billion of CRE loans, while the published ranking presents 25 institutions accounting for $162.1 billion. National ranks place each South Dakota headquartered bank within that broader set. For example, The Bancorp Bank, N.A. ranks 158 nationally with $3.1 billion of CRE loans, and First Bank & Trust ranks 284 with $1.6 billion. These positions compare reported portfolio size, not credit quality, service or suitability for an individual borrower.
More BestCRE lender rankings
CRE lenders by state
BestCRE rankings are editorially independent and built only from public regulatory filings; no bank pays for placement. Call report figures describe loans held on each bank’s balance sheet and do not show loan terms, rates or current appetite. BestCRE is not a lender and does not make loans. Benchmark rates are informational, not quotes. See our Legal Disclaimer and Compensation Disclosure.