The catalogue › United States › Plains › North Dakota
The state note · prepared 3 November 2026

North Dakota

60 banks and 29 credit unions read from their latest filings, every institution ranked against the rest of the state.

Small-business lending ↓

Banks

60 banks filing · read from the 30 June 2026 Call Report
60
banks filing
$65.6B in assets
+4.0%
Loans, year over year
median; 12 above 10%, 15 shrinking
10.3%
CRE / loans
median
79.9%
Loans / deposits
median
0.69%
NPA / loans
median
9.7%
Equity / assets
median

North Dakota's 60 banks hold $65.6B in assets at 30 June 2026. Bell Bank is the largest at $15.2B, and the five largest hold 57% of the total; 13 institutions are above $1B, holding $53.3B.

Loans grew a median +4.0% in the year to 30 June 2026: 12 institutions grew faster than 10% and 15 shrank. The median bank lends 80% of its deposits and holds commercial real estate at 10.3% of loans. Nonperforming loans sit at a median 0.69% of the book, return on assets at 1.34%, and equity at 9.7% of assets.

6 of the 60 are in the catalogue, each read from its own filing beside the banks its size in the state: Bell Bank, Choice Financial Group, First International Bank & Trust, Alerus Financial N.A., Western State Bank, First Western Bank & Trust.

Who holds the state's assetseach institution's share of the $65.6B the state's 60 hold; the largest first, amber in the catalogue
Bell Bank: 23.2%BB23%Choice Financial Group: 9.7%CF10%First International Bank & Trust: 9.4%FI9%Alerus Financial N.A.: 8.0%AF8%Gate City Bank: 6.2%GCBravera Bank: 5.8%BBWestern State Bank: 3.8%WSFirst Western Bank & Trust: 3.6%FWStarion Bank: 3.2%SBCornerstone Bank: 2.8%50 others 24%BBBell Bank23.2%CFChoice Financial Group9.7%FIFirst International B…9.4%AFAlerus Financial N.A.8.0%GCGate City Bank6.2%BBBravera Bank5.8%WSWestern State Bank3.8%FWFirst Western Bank & …3.6%SBStarion Bank3.2%CBCornerstone Bank2.8%

Bell Bank holds 23.2% of the state's bank assets; the five largest hold 57%, and 13 of the 60 are above $1B.

How concentrated that iscumulative share of assets against the share of institutions, largest first; the Gini from the drawn curve
0%0%25%25%50%50%75%75%100%100%equal sharesThe largestBell Bank: 23% of the totalThe five largest57% of the totalThe ten largest76% of the totalGINI0.70 = equal shares · 1 = one holds everythingshare of institutions, largest first →↑ share of the total

The curve's distance from the diagonal is the concentration: 57% of the assets in 8% of the institutions. A Gini near zero would mean equal shares; one would mean a single holder.

What the state's banks lendthe loan book of every bank in the state, summed by category as filed
1-4 family residential, closed-end20.0%$9.8BCommercial & industrial16.4%$8.0BNonfarm nonresidential, non-owner-occupied14.9%$7.3BNonfarm nonresidential, owner-occupied10.0%$4.9BAgricultural production9.4%$4.6BFarmland7.8%$3.8BMultifamily7.4%$3.6BConstruction & land4.9%$2.4BHome equity lines2.7%$1.3BAuto2.0%$986MOther loans and leases2.0%$984MConsumer, other1.7%$817MStates & municipalities0.8%$371MCredit card0.1%$27M

1-4 family residential, closed-end is the largest category at 20.0% of the state's $48.9B in loans, then Commercial & industrial at 16.4% and Nonfarm nonresidential, non-owner-occupied at 14.9%.

Loans, year over yearNorth Dakota banks, 30 June 2026 against a year earlier · no better direction, largest first · the 25 highest of 60 · amber, in the catalogue
state median +4.0% Bo Bank of Tioga +18.1% DW Dakota Western Bank +18.1% PS Peoples State Bank of Velva +17.6% FS First State Bank of Golva +17.1% BB Bravera Bank +15.9% GC Grant County State Bank +14.9% DC Dakota Community Bank & Trust N.A. +13.2% FU First United Bank +13.2% UV United Valley Bank +11.6% US Union State Bank of Hazen +11.1% FS First State Bank of Harvey +10.8% PS Peoples State Bank Fairmount N D +10.4% FI First International Bank & Trust +9.4% FS First State Bank +9.2% LS Liberty State Bank +9.1% BB Bell Bank +8.8% FS First State Bank & Trust +8.4% B Banknorth +7.9% CB Cornerstone Bank +7.5% Bo Bank of Hazelton +7.4% SG Stock Growers Bank +7.1% FW First Western Bank & Trust +6.9% CS Citizens State Bank of Lankin +6.8% BF Bank Forward +6.4% PS Peoples State Bank +6.4%

Bank of Tioga grew fastest at +18.1%; 12 grew faster than 10% and 15 shrank, First Security Bank West the most at -28.9%. The median is +4.0%.

Commercial real estate, share of loansNorth Dakota banks, 30 June 2026 · construction, multifamily and non-owner-occupied nonresidential; listed largest first · the 25 highest of 60 · amber, in the catalogue
state median 10.3% UB Unison Bank 38.2% CF Choice Financial Group 36.2% SB Starion Bank 36.2% AF Alerus Financial N.A. 33.6% FI First International Bank & Trust 33.2% BF Bank Forward 33.1% BB Bell Bank 32.7% FS First Security Bank West 32.3% FW First Western Bank & Trust 28.3% FS First State Bank 27.1% BB Border Bank 27.1% FS First State Bank & Trust 26.7% KB Kirkwood Bank & Trust Co. 25.8% AB Aspire Bank 25.4% CB Cornerstone Bank 25.2% AF American Federal Bank 24.7% SF Security First Bank of North Dako… 24.2% WS Western State Bank 23.9% UV United Valley Bank 23.3% FS First State Bank of Harvey 21.7% K Kodabank 21.5% BB Bravera Bank 20.0% DC Dakota Community Bank & Trust N.A. 16.9% Bo Bank of Tioga 16.5% FU First United Bank 16.5%

Unison Bank is the most CRE-weighted at 38.2% of loans; 0 of the 60 are above 40%, against a median of 10.3%.

Commercial real estate against capital, the 300% screenNorth Dakota banks, 30 June 2026 · the 2006 interagency guidance's screen; total risk-based capital where filed, Tier 1 for a CBLR filer; listed largest first · the 25 highest of 60 · amber, in the catalogue
state median 51% 300% screen UB Unison Bank 284% FI First International Bank & Trust 273% BB Bell Bank 270% FS First State Bank 260% AF Alerus Financial N.A. 260% BF Bank Forward 254% FW First Western Bank & Trust 243% BB Border Bank 225% AF American Federal Bank 213% SB Starion Bank 210% AB Aspire Bank 205% CB Cornerstone Bank 179% CF Choice Financial Group 174% UV United Valley Bank 166% KB Kirkwood Bank & Trust Co. 164% WS Western State Bank 162% K Kodabank 160% SF Security First Bank of North Dako… 147% BB Bravera Bank 136% FU First United Bank 124% PS Peoples State Bank of Velva 109% DC Dakota Community Bank & Trust N.A. 105% GC Gate City Bank 102% US Union State Bank of Hazen 85% FS First State Bank of Harvey 74%

0 of the 60 banks sit above the 300% screen, Unison Bank the highest at 284% of capital; the median is 51%. Crossing the screen is not a violation; it is the level at which examiners expect the risk-management practices the guidance describes.

Construction and land development against capital, the 100% screenNorth Dakota banks, 30 June 2026 · the guidance's first prong; listed largest first · the 25 highest of 60 · amber, in the catalogue
state median 9% 100% screen UB Unison Bank 123% FI First International Bank & Trust 88% FS First State Bank 76% SF Security First Bank of North Dako… 66% FW First Western Bank & Trust 64% SB Starion Bank 54% KB Kirkwood Bank & Trust Co. 53% BF Bank Forward 51% CB Cornerstone Bank 43% BB Bravera Bank 42% WS Western State Bank 40% PS Peoples State Bank of Velva 32% CF Choice Financial Group 29% BB Bell Bank 27% BB Border Bank 25% GC Gate City Bank 23% US Union State Bank of Hazen 23% LS Lincoln State Bank 22% UV United Valley Bank 22% AF Alerus Financial N.A. 21% DC Dakota Community Bank & Trust N.A. 20% FU First United Bank 20% SB State Bank of Bottineau 20% AB Aspire Bank 18% HF Horizon Financial Bank 17%

1 of the 60 bank sits above the 100% construction screen, Unison Bank the highest at 123%; the median is 9%.

Loans to depositsNorth Dakota banks, 30 June 2026 · listed highest first · the 25 highest of 60 · amber, in the catalogue
state median 80% B Banknorth 112% AF American Federal Bank 111% AB Aspire Bank 111% BB Bell Bank 107% WS Western State Bank 107% FS First State Bank 106% SB State Bank of Bottineau 102% BB Border Bank 98% FW First Western Bank & Trust 98% BF Bank Forward 96% AF Alerus Financial N.A. 96% DH Dakota Heritage Bank 95% SF Security First Bank of North Dako… 94% FI First International Bank & Trust 91% CB Commercial Bank of Mott 91% UB Unison Bank 90% K Kodabank 89% GR Goose River Bank 89% UV United Valley Bank 88% CS Citizens State Bank of Lankin 86% MB Merchants Bank 85% CS Citizens State Bank at Mohall 85% HF Horizon Financial Bank 84% DW Dakota Western Bank 84% BB Bravera Bank 83%

7 of the 60 lend more than they hold in deposits, Banknorth the furthest at 112%; the median is 80%.

Nonperforming loans, share of loansNorth Dakota banks, 30 June 2026 · listed highest first · the 25 highest of 60 · amber, in the catalogue
state median 0.69% FS First Security Bank West 4.65% HS Heartland State Bank 3.36% FS First State Bank of Golva 2.51% CB Cornerstone Bank 2.35% TB Trucommunity Bank 2.18% AS American ST Bank & Trust Co. Will… 2.07% FM Farmers & Merchants State Bank 1.86% TM Turtle Mountain State Bank 1.75% GR Goose River Bank 1.71% DH Dakota Heritage Bank 1.62% CS Citizens State Bank of Lankin 1.58% FI First International Bank & Trust 1.54% SB Starion Bank 1.45% FW First Western Bank & Trust 1.42% UB Union Bank 1.38% HF Horizon Financial Bank 1.34% MB Merchants Bank 1.25% Bo Bank of Tioga 1.15% FS First State Bank of Harvey 1.14% SB State Bank & Trust of Kenmare 1.10% BB Border Bank 1.07% Bo Bank of Hazelton 1.01% WS Western State Bank 0.90% BB Bravera Bank 0.90% BB Bell Bank 0.90%

First Security Bank West carries the most nonperforming loans at 4.65% of the book; 22 of the 60 are above 1%, and the median is 0.69%.

The allowance against nonperforming loansthe twenty widest gaps between the reserve and the trouble it covers, both as shares of loans · bold, in the catalogue
0.00%0.50%1.00%1.50%2.00%NPA / loansAllowance / loansMCMcintosh County Bank+2.44%FNFirst National Bank & Trust Co. o…+1.72%LSLiberty State Bank+1.69%SBState Bank of Bottineau+1.65%FSFirst State Bank & Trust+1.53%SFSecurity First Bank of North Dako…+1.42%PSPeoples State Bank+1.35%LSLincoln State Bank+1.34%FUFirst United Bank+1.29%KBKirkwood Bank & Trust Co.+1.23%FSFirst State Bank+1.18%PSPeoples State Bank of Velva+1.13%PSPeoples State Bank Fairmount N D+1.08%DCDakota Community Bank & Trust N.A.+1.08%AFAmerican Federal Bank+1.04%UVUnited Valley Bank+1.02%ABAspire Bank+1.01%CBCommercial Bank of Mott+0.97%DWDakota Western Bank+0.96%RSRolette State Bank+0.95%

The distance between the two dots is the reserve's headroom over the loans already in trouble. 18 of the 60 hold an allowance smaller than their nonperforming loans.

Return on assetsNorth Dakota banks, 30 June 2026 · listed highest first · the 25 highest of 60 · amber, in the catalogue
state median 1.34% AS American ST Bank & Trust Co. Will… 2.56% TM Turtle Mountain State Bank 2.32% FS First State Bank of Golva 2.27% DW Dakota Western Bank 2.12% FS First State Bank 2.07% Bo Bank of Hazelton 2.05% WS Western State Bank 2.02% DH Dakota Heritage Bank 1.97% B Banknorth 1.96% SF Security First Bank of North Dako… 1.84% DC Dakota Community Bank & Trust N.A. 1.83% LS Liberty State Bank 1.82% KB Kirkwood Bank & Trust Co. 1.80% AF Alerus Financial N.A. 1.79% CB Commercial Bank of Mott 1.76% FS First State Bank & Trust 1.72% BF Bank Forward 1.71% K Kodabank 1.66% SG Stock Growers Bank 1.63% FU First United Bank 1.62% FM Farmers & Merchants State Bank 1.58% PS Peoples State Bank of Velva 1.55% MC Mcintosh County Bank 1.55% GC Grant County State Bank 1.54% MB Merchants Bank 1.52%

American ST Bank & Trust Co. Williston earns the most at 2.56% and Heartland State Bank the least at 0.65%; 0 of the 60 earn under 0.50%, and the median is 1.34%.

The efficiency ratio, with the return beside itNorth Dakota banks, 30 June 2026 · cost as a share of revenue, lowest first; return on assets at the right · the 25 lowest of 60 · amber, in the catalogue
state median 60.9% LS Liberty State Bank 33.6% ROA 1.82% FS First State Bank of Golva 40.5% ROA 2.27% CB Commercial Bank of Mott 42.5% ROA 1.76% DW Dakota Western Bank 43.2% ROA 2.12% AS American ST Bank & Trust Co. Will… 45.2% ROA 2.56% Bo Bank of Tioga 46.8% ROA 1.33% WS Western State Bank 47.0% ROA 2.02% SG Stock Growers Bank 47.2% ROA 1.63% DH Dakota Heritage Bank 47.8% ROA 1.97% FS First State Bank 47.9% ROA 2.07% TM Turtle Mountain State Bank 48.0% ROA 2.32% Bo Bank of Hazelton 48.0% ROA 2.05% MB Merchants Bank 49.3% ROA 1.52% FM Farmers & Merchants State Bank 51.1% ROA 1.58% DC Dakota Community Bank & Trust N.A. 52.0% ROA 1.83% SS Strasburg State Bank 53.3% ROA 1.16% FN First National Bank & Trust Co. o… 53.4% ROA 1.24% FS First State Bank & Trust 53.4% ROA 1.72% K Kodabank 53.7% ROA 1.66% CF Choice Financial Group 55.3% ROA 1.28% B Banknorth 56.3% ROA 1.96% MC Mcintosh County Bank 56.4% ROA 1.55% FU First United Bank 56.7% ROA 1.62% PS Peoples State Bank of Velva 56.8% ROA 1.55% CB Cornerstone Bank 57.1% ROA 1.23%

Liberty State Bank runs the leanest at 33.6% of revenue in cost; 0 of the 60 spend more than 80 cents of every revenue dollar, and the median is 60.9%.

The fifteen largest, 30 June 2026navy: the stronger half of each column; amber: the weaker; darker at the ends; bold rows are in the catalogue
InstitutionAssetsLoans YoYCRE / loansLoans / depositsNPA / loansROAEquity / assets
Bell Bank$15.2B+8.8%32.7%107%0.90%0.94%9.7%
Choice Financial Group$6.4B+0.4%36.2%63%0.68%1.28%11.3%
First International Bank & Trust$6.2B+9.4%33.2%91%1.54%1.22%8.4%
Alerus Financial N.A.$5.3B-1.3%33.6%96%0.26%1.79%11.0%
Gate City Bank$4.0B+1.2%13.4%83%0.69%0.85%9.2%
Bravera Bank$3.8B+15.9%20.0%83%0.90%1.36%10.4%
Western State Bank$2.5B+2.6%23.9%107%0.90%2.02%13.4%
First Western Bank & Trust$2.4B+6.9%28.3%98%1.42%0.95%10.8%
Starion Bank$2.1B+5.5%36.2%70%1.45%1.11%8.4%
Cornerstone Bank$1.9B+7.5%25.2%83%2.35%1.23%8.2%
Dakota Community Bank & Trust N.A.$1.4B+13.2%16.9%68%0.08%1.83%8.6%
Bank Forward$1.1B+6.4%33.1%96%0.67%1.71%10.5%
Border Bank$1.1B+5.7%27.1%98%1.07%1.29%9.1%
First United Bank$811M+13.2%16.5%83%0.01%1.62%10.4%
American Federal Bank$796M+3.9%24.7%111%0.00%1.06%9.0%
Five years, 2021 to 2026the 60 institutions filing at both dates; dollars as growth, ratios in points
20212026Change
Loans, in total$30.4B$48.9B+61%
Deposits, in total$39.0B$55.3B+42%
NPA / loans, median0.30%0.69%+0.38 pts
Efficiency, median62.6%60.9%-1.7 pts
ROA, median1.25%1.34%+0.09 pts

Small-business lending

SBA 7(a) approvals into North Dakota since FY2008, across every lender type

$939M of 7(a) credit has been approved into North Dakota since FY2008 across 3,205 loans. Accommodation & food services is the largest category at 17.7%, Retail trade at 12.0%, Construction at 11.1%; the three together are 41% of the money. The heaviest losses fall in Retail trade, at 3.25% of approvals charged off.

7(a) lenders in the state, share of approvalssince FY2008, 161 lenders on record; SBA 7(a) release as of the 2026 file; loans credited to the institution holding them today; amber, in the catalogue
ON Old National Bank 9.2% $87M · 250 loans BB Bravera Bank 4.8% $45M · 309 loans WF Wells Fargo Bank National Associa… 4.7% $44M · 117 loans FW First Western Bank & Trust 4.6% $44M · 172 loans AF Alerus Financial, National Associ… 4.6% $43M · 77 loans CF Choice Financial Group 4.5% $42M · 169 loans UB U.S. Bank, National Association 4.3% $40M · 235 loans CC Capital Credit Union 3.1% $30M · 234 loans SB Starion Bank 2.5% $24M · 178 loans BF Bank Forward 2.5% $24M · 68 loans RR Red River State Bank 2.4% $22M · 45 loans AB Aspire Bank 2.3% $22M · 96 loans
What the state's 7(a) money financeseach industry's share of approvals since FY2008, the twelve largest
Accommodation & food services19.1%$166M · 327 loansRetail trade13.0%$113M · 431 loansConstruction12.0%$105M · 508 loansManufacturing11.3%$98M · 230 loansOther services7.9%$69M · 259 loansHealth care & social assistance7.6%$66M · 269 loansAgriculture, forestry & fishing7.2%$62M · 126 loansWholesale trade5.2%$45M · 121 loansMining & extraction4.8%$41M · 81 loansTransportation & warehousing4.4%$39M · 206 loansProfessional & technical services4.3%$38M · 232 loansAdministrative & waste services3.3%$29M · 181 loans
The industries, with what defaultsapprovals, loans and charged-off dollars by industry since FY2008; a loss rate is charged-off over approved dollars, on settled and unsettled cohorts alike
IndustryApprovedLoansShareCharged offLoss rate
Accommodation & food services$166M32717.7%$1M0.76%
Retail trade$113M43112.0%$4M3.25%
Construction$105M50811.1%$3M2.93%
Manufacturing$98M23010.5%$124K0.13%
Other services$69M2597.3%$414K0.60%
Health care & social assistance$66M2697.0%$198K0.30%
Agriculture, forestry & fishing$62M1266.6%$0K0.00%
Wholesale trade$45M1214.8%$0K0.00%
Mining & extraction$41M814.4%$0K0.00%
Transportation & warehousing$39M2064.1%$696K1.80%
Professional & technical services$38M2324.0%$125K0.33%
Administrative & waste services$29M1813.1%$398K1.38%
The largest county marketsapprovals since FY2008 and how many lenders have written there
CountyApprovedLoansLenders
Cass$312M1,22082
Burleigh$123M49244
Grand Forks$104M30034
Williams$73M15832
Ward$56M13733
Morton$33M20321
Mckenzie$31M3024
Stark$24M7820
Stutsman$22M3315
Mountrail$20M3417

Each institution in the catalogue has its own read, prepared for its board and management from the public record. The full pack on any North Dakota institution, twenty sections from its own filing, is prepared on request.

Ask for a pack

Prepared 3 November 2026
Sources FFIEC Call Report and NCUA 5300 via the FDIC and NCUA; SBA 7(a) release
Cohort every institution filing in North Dakota

Computed from each institution's own filing as published; medians are unweighted; no estimate, no adjustment; not a rating, not an audited statement and not a supervisory judgement.
← Back to the catalogue