Applications / Mortgage Analytics / Lenders / South Dakota / CorTrust Bank
Mitchell, SD · National bank · OCC · $1.5 billion assets · 464 loans in 2025
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464
loans originated, 2025
549
applications, 2025
6
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
CorTrust Bank makes the smallest typical loan of any national bank its size, mostly refinances and home-improvement loans, and it made 13% more of them in 2025.
Its typical loan, $85,000, was the lowest among similar lenders (national banks making between half and twice as many loans), whose typical loan was $205,000. Home purchases were only 15.9% of its loans; refinances took 40.5% and home improvement 28.4%. Much of its lending may be smaller loans against homes already owned rather than first mortgages for buyers.
It made 464 loans, more than the 348 of the typical similar lender. But it lent $68.9 million, against their $128.7 million, less than about five in six of them. The gap follows from its loan size, not from fewer borrowers.
Its loans rose 13%, from 411 to 464, against 5% at similar lenders and 10% across the market. Five years before it made 127. The big step came in 2022, when it made 562.
In Sioux Falls, MN-SD it ranks 21 of 204 with 1.1% of lending, up from 1.0%. Plains Commerce Bank leads. Because its loans are small, a share measured in dollars may understate how many borrowers it reaches.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. CorTrust Bank took 549 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 40.5% · Home improvement 28.4% · Purchase 15.9% · Other 15.1%
Conventional 100.0% · of 464 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 |
|---|---|---|
| South Dakota | 270 | 58.2% |
| Minnesota | 185 | 39.9% |
| Arizona | 3 | 0.6% |
| Wisconsin | 3 | 0.6% |
| Florida | 2 | 0.4% |
| Colorado | 1 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Sioux Falls | 134 |
| Minneapolis-St. Paul-Bloomington | 122 |
| Rapid City | 4 |
| Cape Coral-Fort Myers | 2 |
| Phoenix-Mesa-Chandler | 2 |
| St. Cloud | 2 |
| Denver-Aurora-Centennial | 1 |
| Duluth | 1 |
| Lake Havasu City-Kingman | 1 |
| Sioux City | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 2138004QPZ7FMGPTU106 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 61355 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 36063 | 1994–1999 |
| Respondent ID (the HMDA filer code before 2018) | 123771 | 2000–2017 |
Established 31 October 1930. Reported under HMDA 1994-2025.
Mergers, name changes, data editions and corrections: CorTrust Bank's data.
CorTrust Bank's data
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