Minnesota borrowers have a substantial field of locally headquartered banks to consider for commercial real estate financing. BestCRE ranks 25 of those institutions by total CRE loans reported on schedule RC-C of their FDIC Call Reports as of June 30, 2026. Together, the banks in the table hold $16.2 billion in CRE loans, including $2.3 billion in construction and land loans, $4.1 billion in multifamily loans, $4.4 billion in owner occupied loans and $5.4 billion in investor nonfarm nonresidential loans. These balances show the scale and composition of each bank’s CRE book, but they do not describe current underwriting terms or the availability of financing for a particular property.
The ranking covers banks headquartered in Minnesota, where 221 institutions reported $27.2 billion in total CRE loans. Their combined CRE balance increased +6.0% year over year, and the top five accounted for 27.7% of the total. For context, 4,167 banks nationally reported $3.07 trillion in CRE loans. Borrowers should distinguish this headquarters based ranking from the broader set of institutions operating locally. Banks based in other states can maintain Minnesota branches, gather deposits in the state and make local loans, yet their companywide CRE balances are not included in the ranked table.
Minnesota banks ranked by total CRE loans
| Rank | Bank | Headquarters | Total CRE loans ($M) | Construction and land ($M) | Multifamily ($M) | Owner occupied ($M) | Change, 1 year | CRE share of loans |
|---|---|---|---|---|---|---|---|---|
| 1 | Bridgewater Bank | Saint Louis Park, MN | $3,169 | $228 | $1,585 | $188 | +6.5% | 71.7% |
| 2 | Minnwest Bank | Redwood Falls, MN | $1,143 | $157 | $435 | $266 | +5.1% | 48.6% |
| 3 | Stearns Bank, N.A. | Saint Cloud, MN | $1,139 | $416 | $140 | $355 | -3.7% | 40.4% |
| 4 | Tradition Capital Bank | Wayzata, MN | $1,109 | $296 | $191 | $337 | +6.2% | 49.3% |
| 5 | Frandsen Bank & Trust | Lonsdale, MN | $982 | $166 | $175 | $373 | -1.4% | 38.9% |
| 6 | Merchants Bank, N.A. | Winona, MN | $980 | $75.4 | $302 | $278 | +1.2% | 47.5% |
| 7 | Premier Bank | Maplewood, MN | $658 | $111 | $48.0 | $234 | +9.4% | 73.7% |
| 8 | 21st Century Bank | Loretto, MN | $502 | $42.9 | $108 | $223 | +11.5% | 74.6% |
| 9 | North American Banking Company | Roseville, MN | $490 | $62.4 | $69.6 | $135 | +2.5% | 62.5% |
| 10 | MidCountry Bank | Minneapolis, MN | $483 | $19.1 | $99.6 | $116 | +1.7% | 65.5% |
| 11 | United Bankers’ Bank | Richfield, MN | $454 | $76.5 | $71.3 | $92.5 | -2.0% | 58.2% |
| 12 | Security Bank & Trust Company | Glencoe, MN | $438 | $49.4 | $100 | $168 | +11.6% | 50.6% |
| 13 | Citizens Alliance Bank | Clara City, MN | $434 | $93.6 | $62.6 | $113 | +13.5% | 42.9% |
| 14 | Northeast Bank | Minneapolis, MN | $404 | $19.9 | $31.1 | $168 | +4.2% | 67.7% |
| 15 | Premier Bank Minnesota | Hastings, MN | $403 | $57.3 | $58.8 | $141 | -4.5% | 73.8% |
| 16 | Deerwood Bank | Waite Park, MN | $401 | $65.6 | $30.0 | $197 | +3.2% | 42.0% |
| 17 | First Resource Bank | Lino Lakes, MN | $386 | $42.2 | $114 | $82.9 | +29.6% | 48.9% |
| 18 | Midwest Bank | Detroit Lakes, MN | $381 | $110 | $32.4 | $115 | +23.2% | 42.8% |
| 19 | Falcon National Bank | Foley, MN | $349 | $72.5 | $95.5 | $130 | +12.1% | 46.8% |
| 20 | Park State Bank | Duluth, MN | $334 | $60.8 | $32.9 | $111 | -4.7% | 37.0% |
| 21 | Community Bank Mankato | Vernon Center, MN | $318 | $14.0 | $144 | $132 | -2.8% | 66.9% |
| 22 | Alliance Bank | Lake City, MN | $318 | $19.2 | $49.6 | $38.2 | +8.9% | 51.7% |
| 23 | United Prairie Bank | Mountain Lake, MN | $308 | $35.4 | $52.0 | $158 | +11.7% | 38.8% |
| 24 | Highland Bank | Saint Paul, MN | $298 | $13.5 | $9.6 | $104 | -1.0% | 53.0% |
| 25 | BankVista | Sartell, MN | $296 | $26.2 | $34.4 | $143 | +2.4% | 50.3% |
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 221 banks headquartered in Minnesota.
Bridgewater Bank is the clear scale leader, with $3.2 billion in total CRE loans and $1.6 billion in multifamily loans. Its CRE book represents 71.7% of total loans, while its investor CRE to equity ratio is 4.72x, high relative to the other banks in the table. Minnwest Bank, Stearns Bank, N.A. and Tradition Capital Bank each report $1.1 billion, but their mixes differ. Stearns Bank, N.A. has $415.8 million in construction and land loans, while Minnwest Bank has $435.5 million in multifamily loans. Growth also varies. First Resource Bank reports +29.6% year over year growth, Midwest Bank reports +23.2%, and Citizens Alliance Bank reports +13.5%. Several banks contracted, including Park State Bank at -4.7% and Premier Bank Minnesota at -4.5%. The table therefore separates balance sheet scale from recent direction and portfolio concentration.
Out of state banks with branches in Minnesota
| Bank | Headquarters state | Branches in Minnesota | Deposits in Minnesota ($M) | Total CRE loans, all states ($M) |
|---|---|---|---|---|
| U.S. Bank, N.A. | Ohio | 105 | $106,537 | $50,718 |
| Wells Fargo Bank, N.A. | South Dakota | 123 | $57,768 | $121,623 |
| Old National Bank | Indiana | 77 | $11,816 | $23,021 |
| The Huntington National Bank | Ohio | 61 | $6,926 | $37,932 |
| Bell Bank | North Dakota | 17 | $6,746 | $5,335 |
| BMO Bank, N.A. | Illinois | 36 | $5,243 | $28,802 |
| Bank of America, N.A. | North Carolina | 23 | $4,417 | $79,906 |
| Associated Bank, N.A. | Wisconsin | 24 | $3,436 | $10,594 |
| Choice Financial Group | North Dakota | 5 | $2,993 | $1,585 |
| Alerus Financial, N.A. | North Dakota | 16 | $2,676 | $1,989 |
| JPMorgan Chase Bank, N.A. | Ohio | 45 | $1,202 | $179,847 |
| Nicolet National Bank | Wisconsin | 14 | $1,160 | $4,900 |
Source: FDIC Summary of Deposits 2026. Deposits and branches are for Minnesota only; CRE loans are bank wide.
The ranking provides a starting point for a loan search
Total CRE loans offer a practical measure of demonstrated appetite and potential hold capacity. A bank with a larger CRE book has more commercial property exposure on its balance sheet, although that does not establish whether it will finance a specific request. The portfolio categories help borrowers identify institutions whose reported activity resembles the proposed collateral. Year over year change shows which banks are adding or reducing CRE balances, while CRE share of loans and investor CRE to equity indicate how concentrated the institution is in the sector.
Bank lending remains relationship driven and local, so the ranking should be used to build a call list rather than select a lender from balance sheet data alone. A borrower can compare banks with relevant portfolio exposure, then ask each institution about current interest, structure and underwriting requirements. Concentration can matter during that conversation because a bank with substantial CRE exposure may be selective even when its historical book is large. Headquarters location also helps identify local institutions, but it does not define every bank available to a Minnesota borrower.
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Tell Us About Your DealHow BestCRE Capital WorksPortfolio mix reveals distinct areas of reported activity
Bridgewater Bank’s $3.2 billion CRE book is led by $1.6 billion in multifamily loans and $1.2 billion in investor nonfarm nonresidential loans. Stearns Bank, N.A. reports $415.8 million in construction and land loans, compared with $140.0 million in multifamily loans. Frandsen Bank & Trust shows a different balance, with $373.5 million in owner occupied loans and $266.8 million in investor nonfarm nonresidential loans. These categories identify where balances are held, without establishing current approval preferences.
Concentration measures add another perspective. Premier Bank reports CRE equal to 73.7% of total loans, while 21st Century Bank reports 74.6% and Premier Bank Minnesota reports 73.8%. Bridgewater Bank’s investor CRE to equity ratio is 4.72x. Premier Bank Minnesota reports 3.94x, while Frandsen Bank & Trust reports 1.41x. Ratios that are high relative to other banks in the table can signal that an institution will be selective. They should be considered alongside portfolio mix and growth, not treated as direct evidence of current credit availability.
Minnesota borrowers can compare local banks with other capital sources
Several large banks headquartered elsewhere maintain substantial Minnesota branch networks. Wells Fargo Bank, N.A., headquartered in South Dakota, has 123 Minnesota branches and $57.8 billion in deposits in the state. U.S. Bank, N.A., headquartered in Ohio, has 105 branches and $106.5 billion in Minnesota deposits. Old National Bank has 77 branches and $11.8 billion in state deposits, while The Huntington National Bank has 61 branches and $6.9 billion. Their CRE loan figures cover all states, not Minnesota alone.
Other out of state institutions with Minnesota branches include Bell Bank, BMO Bank, N.A., Bank of America, N.A., Associated Bank, N.A., Choice Financial Group, Alerus Financial, N.A., JPMorgan Chase Bank, N.A. and Nicolet National Bank. Borrowers can also compare debt funds, life companies, CMBS, agency and SBA lenders, none of which appear in bank call reports. Comparing several sources helps a borrower evaluate fit because balance sheet size, portfolio composition and local presence do not show the pricing, structure or execution available for an individual transaction.
Frequently Asked Questions
Which Minnesota bank has the largest commercial real estate loan portfolio?
Bridgewater Bank ranks first among Minnesota headquartered banks, with $3.2 billion in total commercial real estate loans as of June 30, 2026. Its reported portfolio includes $228.3 million in construction and land loans, $1.6 billion in multifamily loans, $188.3 million in owner occupied loans and $1.2 billion in investor nonfarm nonresidential loans. CRE represents 71.7% of its total loans, and its balance increased +6.5% year over year. Bridgewater Bank also ranks 155 nationally by total CRE loans.
Which Minnesota banks reported the fastest CRE loan growth?
First Resource Bank reports the highest year over year CRE growth among the ranked institutions at +29.6%, followed by Midwest Bank at +23.2%. Citizens Alliance Bank reports +13.5%, Falcon National Bank reports +12.1%, United Prairie Bank reports +11.7%, Security Bank & Trust Company reports +11.6%, and 21st Century Bank reports +11.5%. Growth identifies banks that added CRE balances over the reporting period, but it does not show which property types, borrowers or transactions they are currently willing to finance.
Which Minnesota banks have the largest owner occupied CRE balances?
Frandsen Bank & Trust reports $373.5 million in owner occupied CRE loans, the largest such balance among the ranked banks. Stearns Bank, N.A. follows with $354.9 million, while Tradition Capital Bank reports $337.0 million. Merchants Bank, N.A. has $278.3 million, and Minnwest Bank has $266.5 million. Owner occupied balances cover commercial properties occupied by the borrower rather than held principally as investments. The figures show existing balance sheet exposure and can help identify banks familiar with this loan category, but they do not establish current lending terms.
Which ranked Minnesota banks have the largest multifamily portfolios?
Bridgewater Bank reports $1.6 billion in multifamily loans, making it the largest multifamily holder in the Minnesota headquartered ranking. Minnwest Bank reports $435.5 million, Merchants Bank, N.A. reports $301.5 million, and Tradition Capital Bank reports $191.2 million. Frandsen Bank & Trust has $175.5 million, while Community Bank Mankato reports $144.0 million. These balances indicate the relative size of each bank’s existing multifamily book as of June 30, 2026. They do not show whether a bank is actively quoting a particular acquisition, refinance or development request.
What interest rate benchmarks should Minnesota CRE borrowers monitor?
As of Oct 26, 2026, the Prime rate is 7.00%, SOFR is 3.89%, the 5 year Treasury is 4.78%, the 10 year Treasury is 4.96%, and Fed funds is 3.88%. These benchmarks provide market context when borrowers compare financing sources, but the ranked table does not report bank loan rates, spreads, fees or structures. A bank’s total CRE balance and portfolio mix cannot determine the pricing available for a specific property. Borrowers should request current terms directly and compare the complete economics and conditions of each financing option.
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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.