Applications / Mortgage Analytics / Lenders / South Dakota / Sunrise Banks
Sioux Falls, SD · National bank · OCC · $2.7 billion assets · 230 loans in 2025
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230
loans originated, 2025
291
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Sunrise Banks, a national bank that moved its head office from Minnesota to South Dakota in 2024, makes most of its home loans to low- and moderate-income borrowers, far more than similar banks do.
Of its 230 loans in 2025, 78.3% went to low- and moderate-income (LMI) borrowers. Among similar lenders, national banks making between half and twice as many loans, the typical share was 24.4%, and Sunrise Banks was higher than almost all 116 of them. Its share has risen from 42.4% in 2020. Its loans lean to poorer neighborhoods too: 43.7% were in LMI neighborhoods, against 15.8% for its peers.
Almost a third of its loans, 30.9%, went to majority-minority neighborhoods, up from 22.6% in 2024. The typical similar bank put 7.4% there, and Sunrise Banks was higher than nearly nine in ten.
Purchase loans made up 86.5% of its lending, and every loan was conventional, with no government-backed loans at all. Its typical loan, $260,000, was larger than the $205,000 typical of its peers.
Its loans rose 6% in 2025, close to its peers' 5% and below the market's 10%. It has lent in Minneapolis-St. Paul since 1990 and ranks 72 of 688 lenders there. After the move it made its first loans in Sioux Falls in 2025, though its share there is still tiny. Its 230 loans are under half the 489 it made in 2020.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Sunrise Banks took 291 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 86.5% · Refinance 12.2% · Home improvement 1.3%
Conventional 100.0% · of 230 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 | 224 | 97.4% |
| South Dakota | 5 | 2.2% |
| Wisconsin | 1 | 0.4% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 216 |
| Sioux Falls | 4 |
| Fargo | 2 |
| Rochester | 1 |
| St. Cloud | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300HWDY3N8UVJO697 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 860053 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 114991 | 1990–2017 |
Established 17 July 1962. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Sunrise Banks's data.
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