Applications / Mortgage Analytics / Lenders / North Dakota / KodaBank
Drayton, ND · State non-member bank · FDIC · $534 million assets · 99 loans in 2025
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99
loans originated, 2025
100
applications, 2025
4
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
KodaBank, a North Dakota state bank that first reported its mortgage lending in 2023, is gaining ground quickly in Fargo and Grand Forks.
It made 99 loans in 2025, up 50% on 2024. Similar lenders, state non-member banks making between half and twice as many loans, grew 9%, and the whole market 10%; KodaBank grew faster than about nine in ten of them. Its count has risen each year since its first report, from 49 loans in 2023.
In Fargo, its largest market, its share rose to 0.8% from 0.4%, ranking it 32 of 207 lenders. In Grand Forks it rose to 0.9% from 0.2%, for 25th place of 131. It entered both markets in 2023, when its reports begin.
Every loan it made was conventional, with no government backing, as at most similar banks. Home purchases were 63.6% of its loans and refinances 26.3%. Its typical loan, $185,000, was close to the $175,000 of similar banks.
The bank, renamed from Drayton State Bank in 2010, filed no mortgage report before 2023. Small banks need not report (since 2020, those making fewer than 100 closed-end loans a year), so earlier years are gaps in the record rather than years without lending.
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, 2023–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. KodaBank took 100 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 63.6% · Refinance 26.3% · Home improvement 6.1% · Other 4.0%
Conventional 100.0% · of 99 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 |
|---|---|---|
| North Dakota | 56 | 56.6% |
| Minnesota | 40 | 40.4% |
| Florida | 2 | 2.0% |
| South Dakota | 1 | 1.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Fargo | 18 |
| Grand Forks | 12 |
| Minneapolis-St. Paul-Bloomington | 4 |
| Duluth | 1 |
| North Port-Bradenton-Sarasota | 1 |
| Punta Gorda | 1 |
| Sioux Falls | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 2549004EEJO192FMAC61 | 2023–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 803957 | 2023–2023 |
Established 1 April 1916. Reported under HMDA 2023-2025.
Mergers, name changes, data editions and corrections: KodaBank's data.
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