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 and 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

310

Origination Dollar Volume (All Markets)

$72,050,000

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)	300	$69,740,000	$232,467	$0	0.00%
Outside of Metro Areas	10	$2,310,000	$231,000	$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	281	$63,415,000	$225,676	$0	0.00%
VA	22	$6,460,000	$293,636	$0	0.00%
FHA	7	$2,175,000	$310,714	$0	0.00%

For 2021, Mt. Mckinley Bank's most frequently originated type of loan was Conventional, with 281 originations. Their 2nd most popular type was VA, with 22 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	147	$38,795,000	$263,912	$0	0.00%
Refi	87	$18,125,000	$208,333	$0	0.00%
Cash Out Refi	55	$11,975,000	$217,727	$0	0.00%
Other	18	$2,740,000	$152,222	$0	0.00%
Home Improvement	3	$415,000	$138,333	$0	0.00%

For 2021, Mt. Mckinley Bank's most frequently cited loan purpose was Home Purchase, with 147 originations. The 2nd most popular reason was Refi, with 87 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	310	$72,050,000	$232,419	$0	0.00%

For 2021, Mt. Mckinley Bank's most frequently cited loan duration was Other, with 310 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	139	$37,665,000	$270,971	$0	0.00%
$100k-200k	104	$16,330,000	$157,019	$0	0.00%
$400k-600k	33	$14,825,000	$449,242	$0	0.00%
$100,000 or less	32	$1,980,000	$61,875	$0	0.00%
$600k-1MM	2	$1,250,000	$625,000	$0	0.00%

2021 saw Mt. Mckinley Bank place emphasis on $200k-400k loans with 139 originations, totaling $37,665,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	85	$20,475,000	$240,882	$0	0.00%
$50k-75k	59	$11,095,000	$188,051	$0	0.00%
$75k-100k	56	$12,650,000	$225,893	$0	0.00%
$150k-250k	53	$15,695,000	$296,132	$0	0.00%
$50k or less	28	$3,550,000	$126,786	$0	0.00%
$250k+	12	$3,360,000	$280,000	$0	0.00%

Mt. Mckinley Bank lent most frequently to those with incomes in the $100k-150k range, with 85 originations. The second most popular income band? $50k-75k, with 59 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	310	$72,050,000	$232,419	$0	0.00%

Mt. Mckinley Bank lent most frequently to those with DTI ratios of Exempt%, with 310 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	269	$62,265,000	$231,468	$0	0.00%
Asian	12	$2,780,000	$231,667	$0	0.00%
American Indian	10	$2,440,000	$244,000	$0	0.00%
Not applicable	6	$1,880,000	$313,333	$0	0.00%
Black	7	$1,455,000	$207,857	$0	0.00%
Not provided	5	$1,055,000	$211,000	$0	0.00%
Native Hawaiian	1	$175,000	$175,000	$0	0.00%

Approval Rates

Total approvals of all applications
95.61%

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
80.97%

Mt. Mckinley Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	310	$72,050,000	$232,419

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	310	$72,050,000	$232,419

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	$23,674
Mt. Mckinley Bank	1380 University Avenue Fairbanks, AK 99709	Full Service B&M	$97,324
Mt. Mckinley Bank	1680 Richardson Highway Delta Junction, AK 99737	Full Service B&M	$26,131
Mt. Mckinley Bank	45 St. Nicholas Drive Fairbanks, AK 99701	Full Service B&M	$40,474
Mt. Mckinley Bank	500 Fourth Ave Fairbanks, AK 99701	Full Service B&M	$316,482

For 2021, Mt. Mckinley Bank had 5 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$17,468
Net interest income	$16,452
Total noninterest income	$4,199
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$127
Trading account gains and fees	$0
Additional Noninterest Income	$4,072
Pre-tax net operating income	$5,835
Securities gains (or losses, -)	$10
Income before extraordinary items	$4,823
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,823
Minority interest net income	$0
Net income	$4,823
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,814

Mt. Mckinley Bank's gross interest income from loans was $17,468,000.
Mt. Mckinley Bank's net interest income from loans was $16,452,000.
Mt. Mckinley Bank's fee based income from loans was $127,000.
Mt. Mckinley Bank's net income from loans was $4,823,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,016
Provision for credit losses	$235
Total noninterest expense	$14,581
Salaries and employee benefits	$8,582
Premises and equipment expense	$2,166
Additional noninterest expense	$3,833
Applicable income taxes	$1,022
Net charge-offs	$-1
Cash dividends	$0

Mt. Mckinley Bank's interest expense for loans was $1,016,000.
Mt. Mckinley Bank's payroll and benefits expense were $8,582,000.
Mt. Mckinley Bank's property, plant and equipment expenses $2,166,000.

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	$537,262
Deposits held in domestic offices	$537,262
Deposits by Individuals, partnerships, and corporations	$518,087
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$19,175
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	$244,759
Demand deposits	$124,615
Nontransaction accounts	$292,503
Money market deposit accounts (MMDAs)	$99,784
Other savings deposits (excluding MMDAs)	$117,075
Total time deposits	$75,644
Total time and savings deposits	$412,647
Noninterest-bearing deposits	$127,452
Interest-bearing deposits	$409,810
Retail deposits	$509,641
IRAs and Keogh plan accounts	$9,750
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$644,517
Cash & Balances due from depository institutions	$45,663
Interest-bearing balances	$42,549
Total securities	$328,695
Federal funds sold & reverse repurchase	$0
Net loans and leases	$230,974
Loan and leases loss allowance	$4,121
Trading account assets	$0
Bank premises and fixed assets	$24,387
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$14,798

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$644,517
Total Liabilities	$540,807
Total deposits	$537,262
Interest-bearing deposits	$409,810
Deposits held in domestic offices	$537,262
% insured (estimated)	$70
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,545

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$230,974
Loan and leases loss allowance	$4,121
Total loans and leases (domestic)	$235,095
All real estate loans	$191,433
Real estate loans in domestic offices	$191,433
Construction and development loans	$25,692
Residential 1-4 family construction	$13,600
Other construction, all land development and other land	$12,092
Loans secured by nonfarm nonresidential properties	$111,384
Nonfarm nonresidential secured by owner-occupied properties	$70,772
Commercial real estate & other non-farm, non-residential	$40,612
Multifamily residential real estate	$16,903
1-4 family residential loans	$37,454
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$39,039
To non-U.S. addressees	$0
Loans to individuals	$2,547
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$929
Other loans to individuals	$1,618
All other loans & leases	$2,075
Loans to foreign governments and official institutions	$0
Other loans	$18
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	$267
Non 1-4 family restructured loans & leases	$267
Total loans and leases (foreign)	$0

Mt. McKinley Bank had $230,974,000 of loans outstanding in 2021. $191,433,000 of loans were in real estate loans. $25,692,000 of loans were in development loans. $16,903,000 of loans were in multifamily mortgage loans. $37,454,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $929,000 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	$41,220	$296,547
Nonfarm, nonresidential loans - <$100k	33	$1,755	$53,182
Nonfarm, nonresidential loans - $100-250k	44	$7,551	$171,614
Nonfarm, nonresidential loans - $250k-1MM	62	$31,914	$514,742
Commercial & Industrial, US addressed loans - <$1MM	250	$19,867	$79,468
Commercial & Industrial, US addressed loans - <$100k	198	$5,706	$28,818
Commercial & Industrial, US addressed loans - $100-250k	33	$5,617	$170,212
Commercial & Industrial, US addressed loans - $250k-1MM	19	$8,544	$449,684