Applications / Mortgage Analytics / Lenders / North Dakota / Border Bank
Fargo, ND · State non-member bank · FDIC · $1.1 billion assets · 288 loans in 2025
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288
loans originated, 2025
325
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Border Bank, which lends in Minnesota and North Dakota, makes smaller loans than its peers to more low- and moderate-income borrowers, and in 2025 it gained ground in Fargo, where it ranked 12 of 207 lenders.
Originations rose 14% to 288, against 8% at similar lenders (state non-member banks making between half and twice as many loans) and 10% for the whole market. Its lending jumped from 90 loans in 2020 to 535 in 2021 and has run between 252 and 315 since. Its history records that Border State Bank and Union State Bank of Fargo both took the name Border Bank in 2020.
Its share of the Fargo market rose 1.5 points to 1.9%. It has lent there since at least 1990; Bell Bank and Gate City Bank rank first and second. In Bismarck and Grand Forks it ranked 112 of 145 and 90 of 131, with shares of 0.1% or less.
Its typical loan was $130,000, against $175,000 at similar lenders, and it made no jumbo loans. Low- and moderate-income (LMI) borrowers took 36.5% of its loans, against 28.1%, a higher share than at about four in five similar lenders. The two may be linked, since smaller loans can suit lower-income borrowers.
Purchases made up 45.5% of its lending and refinances 35.1%. Home improvement (9.4%) and other purposes (10.1%) made up the rest. All of its loans were conventional.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Border Bank took 325 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 45.5% · Refinance 35.1% · Other 10.1% · Home improvement 9.4%
Conventional 100.0% · of 288 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Minnesota | 250 | 86.8% |
| North Dakota | 36 | 12.5% |
| Wisconsin | 2 | 0.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Fargo | 40 |
| Minneapolis-St. Paul-Bloomington | 4 |
| Grand Forks | 3 |
| Bismarck | 1 |
| Duluth | 1 |
| Janesville-Beloit | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900Y3CWQSLFVW8D53 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 968557 | 2004–2020 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 977951 | 2017–2023 |
| Respondent ID (the HMDA filer code before 2018) | 320776 | 1990–2017 |
Established 21 August 1972. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Border Bank's data.
Border Bank's data
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