Mt. Mckinley Bank Mortgage Rates, Fees & Info

Fairbanks, AK

LEI: 25490011JA7PP73YY190

Tax ID: 92-0032589

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Mt. Mckinley Bank is a smaller bank specializing in Home Purchase loans. Mt. Mckinley Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top (well, only) market is Fairbanks.

Mt. Mckinley Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

196

Origination Dollar Volume (All Markets)

$39,980,000

Employee count

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
FAIRBANKS, AK (FHA\|USDA\|VA)	183	$37,395,000	$204,344	$0	0.00%
Outside of Metro Areas	13	$2,585,000	$198,846	$0	0.00%

Mt. Mckinley Bank's top markets include and Fairbanks among others.

Their top states include:

Alaska (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	174	$34,020,000	$195,517	$0	0.00%
VA	11	$3,365,000	$305,909	$0	0.00%
FHA	10	$2,410,000	$241,000	$0	0.00%
USDA	1	$185,000	$185,000	$0	0.00%

For 2018, Mt. Mckinley Bank's most frequently originated type of loan was Conventional, with 174 originations. Their 2nd most popular type was VA, with 11 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	145	$30,875,000	$212,931	$0	0.00%
Cash Out Refi	34	$6,670,000	$196,176	$0	0.00%
Refi	10	$1,450,000	$145,000	$0	0.00%
Other	4	$820,000	$205,000	$0	0.00%
Home Improvement	3	$165,000	$55,000	$0	0.00%

For 2018, Mt. Mckinley Bank's most frequently cited loan purpose was Home Purchase, with 145 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	196	$39,980,000	$203,980	$0	0.00%

For 2018, Mt. Mckinley Bank's most frequently cited loan duration was Other, with 196 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	80	$21,600,000	$270,000	$0	0.00%
$100k-200k	77	$11,995,000	$155,779	$0	0.00%
$100,000 or less	29	$1,905,000	$65,690	$0	0.00%
$400k-600k	10	$4,480,000	$448,000	$0	0.00%

2018 saw Mt. Mckinley Bank place emphasis on $200k-400k loans with 80 originations, totaling $21,600,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	49	$11,765,000	$240,102	$0	0.00%
$75k-100k	46	$8,400,000	$182,609	$0	0.00%
$50k-75k	38	$7,330,000	$192,895	$0	0.00%
$150k-250k	23	$4,745,000	$206,304	$0	0.00%
$50k or less	21	$2,575,000	$122,619	$0	0.00%
$250k+	13	$3,465,000	$266,538	$0	0.00%

Mt. Mckinley Bank lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $75k-100k, with 46 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	196	$39,980,000	$203,980	$0	0.00%

Mt. Mckinley Bank lent most frequently to those with DTI ratios of Exempt%, with 196 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	173	$34,725,000	$200,723	$0	0.00%
Asian	7	$1,555,000	$222,143	$0	0.00%
Black	6	$1,540,000	$256,667	$0	0.00%
American Indian	6	$1,220,000	$203,333	$0	0.00%
Not provided	2	$400,000	$200,000	$0	0.00%
Not applicable	1	$375,000	$375,000	$0	0.00%
Other Asian	1	$165,000	$165,000	$0	0.00%

Approval Rates

Total approvals of all applications
92.46%

Mt. Mckinley Bank has an average approval rate.

Pick Rate

Approvals leading to origination
81.63%

Mt. Mckinley Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	196	$39,980,000	$203,980

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$1,180,000	$295,000
Single Family (1-4 Units):Manufactured	2	$280,000	$140,000
Single Family (1-4 Units):Site-Built	190	$38,520,000	$202,737

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Mt. McKinley Bank	1680 Richardson Highway Delta Junction, AK 99737	Full Service B&M	$18,446
Mt. McKinley Bank	45 St. Nicholas Drive Fairbanks, AK 99701	Full Service B&M	$23,081
Mt. McKinley Bank	500 Fourth Ave Fairbanks, AK 99701	Full Service B&M	$202,553
Mt. McKinley Bank	1248 Old Steese Highway Fairbanks, AK 99701	Full Service B&M	$12,344
Mt. McKinley Bank	1380 University Avenue Fairbanks, AK 99709	Full Service B&M	$67,741

For 2018, Mt. Mckinley Bank had 5 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$15,706
Net interest income	$15,155
Total noninterest income	$2,410
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$137
Trading account gains and fees	$0
Additional Noninterest Income	$2,273
Pre-tax net operating income	$5,319
Securities gains (or losses, -)	$459
Income before extraordinary items	$4,718
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,718
Minority interest net income	$0
Net income	$4,718
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,341

Mt. Mckinley Bank's gross interest income from loans was $15,706,000.
Mt. Mckinley Bank's net interest income from loans was $15,155,000.
Mt. Mckinley Bank's fee based income from loans was $137,000.
Mt. Mckinley Bank's net income from loans was $4,718,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$551
Provision for credit losses	$129
Total noninterest expense	$12,117
Salaries and employee benefits	$7,459
Premises and equipment expense	$1,949
Additional noninterest expense	$2,709
Applicable income taxes	$1,060
Net charge-offs	$0
Cash dividends	$0

Mt. Mckinley Bank's interest expense for loans was $551,000.
Mt. Mckinley Bank's payroll and benefits expense were $7,459,000.
Mt. Mckinley Bank's property, plant and equipment expenses $1,949,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	3.0%
HELOC loans	0.0%
All other family	5.0%
Commercial & industrial loans	2.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$340,408
Deposits held in domestic offices	$340,408
Deposits by Individuals, partnerships, and corporations	$332,948
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$7,460
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$144,714
Demand deposits	$66,486
Nontransaction accounts	$195,694
Money market deposit accounts (MMDAs)	$65,244
Other savings deposits (excluding MMDAs)	$85,527
Total time deposits	$44,922
Total time and savings deposits	$273,922
Noninterest-bearing deposits	$69,154
Interest-bearing deposits	$271,254
Retail deposits	$331,522
IRAs and Keogh plan accounts	$9,588
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$431,138
Cash & Balances due from depository institutions	$34,771
Interest-bearing balances	$30,190
Total securities	$198,768
Federal funds sold & reverse repurchase	$0
Net loans and leases	$168,576
Loan and leases loss allowance	$3,215
Trading account assets	$0
Bank premises and fixed assets	$24,432
Other real estate owned	$138
Goodwill and other intangibles	$0
All other assets	$4,453

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$431,138
Total Liabilities	$343,106
Total deposits	$340,408
Interest-bearing deposits	$271,254
Deposits held in domestic offices	$340,408
% insured (estimated)	$79
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$2,698

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$168,576
Loan and leases loss allowance	$3,215
Total loans and leases (domestic)	$171,791
All real estate loans	$137,835
Real estate loans in domestic offices	$137,835
Construction and development loans	$12,819
Residential 1-4 family construction	$7,271
Other construction, all land development and other land	$5,548
Loans secured by nonfarm nonresidential properties	$83,567
Nonfarm nonresidential secured by owner-occupied properties	$43,080
Commercial real estate & other non-farm, non-residential	$40,487
Multifamily residential real estate	$14,421
1-4 family residential loans	$26,992
Farmland loans	$36
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$33,191
To non-U.S. addressees	$0
Loans to individuals	$746
Credit card loans	$0
Related Plans	$3
Consumer Auto Loans	$172
Other loans to individuals	$571
All other loans & leases	$19
Loans to foreign governments and official institutions	$0
Other loans	$19
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$303
Non 1-4 family restructured loans & leases	$303
Total loans and leases (foreign)	$0

Mt. McKinley Bank had $168,576,000 of loans outstanding in 2018. $137,835,000 of loans were in real estate loans. $12,819,000 of loans were in development loans. $14,421,000 of loans were in multifamily mortgage loans. $26,992,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $172,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	136	$34,451	$253,316
Nonfarm, nonresidential loans - <$100k	19	$904	$47,579
Nonfarm, nonresidential loans - $100-250k	47	$6,166	$131,191
Nonfarm, nonresidential loans - $250k-1MM	70	$27,381	$391,157
Commercial & Industrial, US addressed loans - <$1MM	119	$11,756	$98,790
Commercial & Industrial, US addressed loans - <$100k	70	$1,844	$26,343
Commercial & Industrial, US addressed loans - $100-250k	25	$1,619	$64,760
Commercial & Industrial, US addressed loans - $250k-1MM	24	$8,293	$345,542
Farmland loans - <$1MM	1	$36	$36,000
Farmland loans - <$100k	1	$36	$36,000