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 Refi, Home Purchase, and Cash Out Refi loans. Mt. Mckinley Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) 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

468

Origination Dollar Volume (All Markets)

$101,940,000

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)	456	$99,590,000	$218,399	$0	0.00%
Outside of Metro Areas	12	$2,350,000	$195,833	$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	442	$94,330,000	$213,416	$0	0.00%
VA	17	$5,475,000	$322,059	$0	0.00%
FHA	9	$2,135,000	$237,222	$0	0.00%

For 2020, Mt. Mckinley Bank's most frequently originated type of loan was Conventional, with 442 originations. Their 2nd most popular type was VA, with 17 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	191	$39,465,000	$206,623	$0	0.00%
Home Purchase	168	$39,680,000	$236,190	$0	0.00%
Cash Out Refi	92	$20,520,000	$223,043	$0	0.00%
Other	11	$1,855,000	$168,636	$0	0.00%
Home Improvement	6	$420,000	$70,000	$0	0.00%

For 2020, Mt. Mckinley Bank's most frequently cited loan purpose was Refi, with 191 originations. The 2nd most popular reason was Home Purchase, with 168 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	468	$101,940,000	$217,821	$0	0.00%

For 2020, Mt. Mckinley Bank's most frequently cited loan duration was Other, with 468 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	204	$32,490,000	$159,265	$0	0.00%
$200k-400k	200	$53,190,000	$265,950	$0	0.00%
$100,000 or less	34	$2,190,000	$64,412	$0	0.00%
$400k-600k	28	$12,800,000	$457,143	$0	0.00%
$600k-1MM	2	$1,270,000	$635,000	$0	0.00%

2020 saw Mt. Mckinley Bank place emphasis on $100k-200k loans with 204 originations, totaling $32,490,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	117	$26,375,000	$225,427	$0	0.00%
$150k-250k	101	$24,735,000	$244,901	$0	0.00%
$50k-75k	84	$14,610,000	$173,929	$0	0.00%
$75k-100k	74	$15,060,000	$203,514	$0	0.00%
$50k or less	37	$5,335,000	$144,189	$0	0.00%
$250k+	35	$11,045,000	$315,571	$0	0.00%

Mt. Mckinley Bank lent most frequently to those with incomes in the $100k-150k range, with 117 originations. The second most popular income band? $150k-250k, with 101 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	468	$101,940,000	$217,821	$0	0.00%

Mt. Mckinley Bank lent most frequently to those with DTI ratios of Exempt%, with 468 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	408	$89,530,000	$219,436	$0	0.00%
American Indian	19	$3,065,000	$161,316	$0	0.00%
Asian	12	$2,900,000	$241,667	$0	0.00%
Black	13	$2,845,000	$218,846	$0	0.00%
Not applicable	7	$1,765,000	$252,143	$0	0.00%
Not provided	8	$1,700,000	$212,500	$0	0.00%
Native Hawaiian or Islander	1	$135,000	$135,000	$0	0.00%

Approval Rates

Total approvals of all applications
95.58%

Mt. Mckinley Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
84.62%

Mt. Mckinley Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	468	$101,940,000	$217,821

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	5	$1,565,000	$313,000
Single Family (1-4 Units):Site-Built	463	$100,375,000	$216,793

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Mt. Mckinley Bank	1248 Old Steese Highway Fairbanks, AK 99701	Full Service B&M	$18,376
Mt. Mckinley Bank	1380 University Avenue Fairbanks, AK 99709	Full Service B&M	$83,515
Mt. Mckinley Bank	1680 Richardson Highway Delta Junction, AK 99737	Full Service B&M	$21,473
Mt. Mckinley Bank	45 St. Nicholas Drive Fairbanks, AK 99701	Full Service B&M	$35,267
Mt. Mckinley Bank	500 Fourth Ave Fairbanks, AK 99701	Full Service B&M	$266,270

For 2020, Mt. Mckinley Bank had 5 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,191
Net interest income	$14,996
Total noninterest income	$4,665
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$117
Trading account gains and fees	$0
Additional Noninterest Income	$4,548
Pre-tax net operating income	$5,388
Securities gains (or losses, -)	$180
Income before extraordinary items	$4,620
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,620
Minority interest net income	$0
Net income	$4,620
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,470

Mt. Mckinley Bank's gross interest income from loans was $16,191,000.
Mt. Mckinley Bank's net interest income from loans was $14,996,000.
Mt. Mckinley Bank's fee based income from loans was $117,000.
Mt. Mckinley Bank's net income from loans was $4,620,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,195
Provision for credit losses	$595
Total noninterest expense	$13,678
Salaries and employee benefits	$8,382
Premises and equipment expense	$2,059
Additional noninterest expense	$3,237
Applicable income taxes	$948
Net charge-offs	$3
Cash dividends	$0

Mt. Mckinley Bank's interest expense for loans was $1,195,000.
Mt. Mckinley Bank's payroll and benefits expense were $8,382,000.
Mt. Mckinley Bank's property, plant and equipment expenses $2,059,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	1.0%
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	$448,219
Deposits held in domestic offices	$448,219
Deposits by Individuals, partnerships, and corporations	$433,618
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$14,602
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	$199,511
Demand deposits	$100,472
Nontransaction accounts	$248,709
Money market deposit accounts (MMDAs)	$73,000
Other savings deposits (excluding MMDAs)	$109,535
Total time deposits	$66,174
Total time and savings deposits	$347,748
Noninterest-bearing deposits	$103,444
Interest-bearing deposits	$344,775
Retail deposits	$427,374
IRAs and Keogh plan accounts	$9,775
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$552,253
Cash & Balances due from depository institutions	$47,266
Interest-bearing balances	$42,229
Total securities	$235,714
Federal funds sold & reverse repurchase	$0
Net loans and leases	$231,384
Loan and leases loss allowance	$3,885
Trading account assets	$0
Bank premises and fixed assets	$24,272
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$13,617

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$552,253
Total Liabilities	$451,389
Total deposits	$448,219
Interest-bearing deposits	$344,775
Deposits held in domestic offices	$448,219
% insured (estimated)	$77
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,170

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$231,384
Loan and leases loss allowance	$3,885
Total loans and leases (domestic)	$235,269
All real estate loans	$170,594
Real estate loans in domestic offices	$170,594
Construction and development loans	$19,468
Residential 1-4 family construction	$11,441
Other construction, all land development and other land	$8,027
Loans secured by nonfarm nonresidential properties	$95,185
Nonfarm nonresidential secured by owner-occupied properties	$53,703
Commercial real estate & other non-farm, non-residential	$41,482
Multifamily residential real estate	$14,826
1-4 family residential loans	$41,090
Farmland loans	$25
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$63,145
To non-U.S. addressees	$0
Loans to individuals	$1,505
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$371
Other loans to individuals	$1,134
All other loans & leases	$25
Loans to foreign governments and official institutions	$0
Other loans	$25
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	$280
Non 1-4 family restructured loans & leases	$280
Total loans and leases (foreign)	$0

Mt. McKinley Bank had $231,384,000 of loans outstanding in 2020. $170,594,000 of loans were in real estate loans. $19,468,000 of loans were in development loans. $14,826,000 of loans were in multifamily mortgage loans. $41,090,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $371,000 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	139	$36,721	$264,180
Nonfarm, nonresidential loans - <$100k	39	$1,825	$46,795
Nonfarm, nonresidential loans - $100-250k	43	$7,003	$162,860
Nonfarm, nonresidential loans - $250k-1MM	57	$27,893	$489,351
Commercial & Industrial, US addressed loans - <$1MM	425	$35,972	$84,640
Commercial & Industrial, US addressed loans - <$100k	340	$10,336	$30,400
Commercial & Industrial, US addressed loans - $100-250k	50	$8,451	$169,020
Commercial & Industrial, US addressed loans - $250k-1MM	35	$17,185	$491,000
Farmland loans - <$1MM	1	$25	$25,000
Farmland loans - <$100k	1	$25	$25,000