The Miners National Bank Of Eveleth Mortgage Rates, Fees & Info

Eveleth, MN

LEI: 254900237R332M8L2724

Tax ID: 41-0413985

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    The Miners National Bank Of Eveleth is a smaller bank specializing in Home Purchase and Refi loans. The Miners National Bank Of Eveleth has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Cape Coral, Minneapolis, and Grand Rapids among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Miners National Bank Of Eveleth 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. The Miners National Bank Of Eveleth is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    101

    Origination Dollar Volume (All Markets)

    $14,435,000

    Employee count

    16

    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
    DULUTH, MN-WI (FHA|USDA|VA) 96 $13,410,000 $139,688 $3,635 4.72%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $555,000 $555,000 $8,689 4.88%
    Outside of Metro Areas 2 $290,000 $145,000 $4,053 4.38%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $105,000 $105,000 $2,559 4.13%
    Grand Rapids, MN (FHA|USDA|VA) 1 $75,000 $75,000 $3,734 4.00%
    The Miners National Bank Of Eveleth's top markets include Duluth, Cape Coral, Minneapolis, and Grand Rapids among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Miners National Bank of Eveleth based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Cornerstone State Bank
    Similarity Rank: 140
    Western National Bank
    Similarity Rank: 156
    The Miners National Bank of Eveleth
    Similarity Rank: 335
    Tradition Mortgage, LLC
    Similarity Rank: 407
    SUPERIOR CHOICE
    Similarity Rank: 606
    North Shore Bank of Commerce
    Similarity Rank: 670
    AFFINITY PLUS
    Similarity Rank: 1085
    Regent Financial Group, Inc.
    Similarity Rank: 1350
    RESULTS MORTGAGE, LLC
    Similarity Rank: 1479
    Frandsen Bank & Trust
    Similarity Rank: 1548

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 101 $14,435,000 $142,921 $3,684 4.70%

    For 2019, The Miners National Bank Of Eveleth's most frequently originated type of loan was Conventional, with 101 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 72 $9,920,000 $137,778 $3,643 4.83%
    Refi 16 $2,980,000 $186,250 $3,937 4.30%
    Cash Out Refi 11 $1,395,000 $126,818 $3,867 4.25%
    Home Improvement 1 $15,000 $15,000 $175 6.75%
    Other 1 $125,000 $125,000 $4,055 4.25%

    For 2019, The Miners National Bank Of Eveleth's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 75 $10,675,000 $142,333 $3,767 4.81%
    15 Year 12 $1,800,000 $150,000 $3,595 4.04%
    20 Year 10 $1,200,000 $120,000 $3,000 4.76%
    10 Year 3 $195,000 $65,000 $2,748 4.92%
    Other 1 $565,000 $565,000 $8,141 3.38%

    For 2019, The Miners National Bank Of Eveleth's most frequently cited loan duration was 30 Year, with 75 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 34 $4,800,000 $141,176
    $1k-2k 28 $2,160,000 $77,143
    $<1k 26 $2,800,000 $107,692
    $3k-4k 7 $2,245,000 $320,714
    $4k-5k 4 $1,360,000 $340,000
    $5k+ 2 $1,070,000 $535,000

    The Miners National Bank Of Eveleth's average total fees were $3,767, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 34 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 38 $6,160,000 $162,105
    3-4% 34 $5,640,000 $165,882
    5-6% 17 $1,545,000 $90,882
    6-7% 7 $645,000 $92,143
    7-8% 5 $445,000 $89,000

    During 2019, The Miners National Bank Of Eveleth's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 42 $5,820,000 $138,571 $3,712 4.71%
    $100,000 or less 40 $2,420,000 $60,500 $2,799 4.91%
    $200k-400k 15 $4,085,000 $272,333 $4,839 4.27%
    $400k-600k 4 $2,110,000 $527,500 $7,911 4.06%

    2019 saw The Miners National Bank Of Eveleth place emphasis on $100k-200k loans with 42 originations, totaling $5,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 28 $2,990,000 $106,786 $3,415 4.71%
    $50k or less 21 $1,495,000 $71,190 $2,945 4.94%
    $75k-100k 20 $2,750,000 $137,500 $3,845 4.46%
    $100k-150k 18 $3,450,000 $191,667 $3,665 4.87%
    $150k-250k 12 $2,760,000 $230,000 $4,743 4.53%
    $250k+ 2 $990,000 $495,000 $7,407 4.00%

    The Miners National Bank Of Eveleth lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $50k or less, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 29 $3,415,000 $117,759 $3,430 4.60%
    30-36% 26 $3,090,000 $118,846 $3,485 4.86%
    <20% 13 $2,105,000 $161,923 $3,806 4.17%
    41% 4 $670,000 $167,500 $3,812 4.56%
    46% 4 $450,000 $112,500 $4,187 5.38%
    43% 4 $470,000 $117,500 $3,073 4.16%
    42% 3 $215,000 $71,667 $2,973 5.58%
    36% 3 $1,065,000 $355,000 $6,786 4.38%
    39% 3 $205,000 $68,333 $2,882 4.96%
    50-60% 3 $1,025,000 $341,667 $5,129 5.42%
    44% 2 $500,000 $250,000 $5,584 4.56%
    37% 1 $565,000 $565,000 $8,141 3.38%
    47% 1 $185,000 $185,000 $741 7.50%
    48% 1 $125,000 $125,000 $4,055 4.25%
    49% 1 $85,000 $85,000 $3,673 3.88%
    >60% 1 $25,000 $25,000 $1,184 5.75%
    38% 1 $95,000 $95,000 $3,724 4.25%
    40% 1 $145,000 $145,000 $2,236 5.00%

    The Miners National Bank Of Eveleth lent most frequently to those with DTI ratios of 20-30%, with 29 originations. The next most common DTI ratio? 30-36%, with 26 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 99 $14,345,000 $144,899 $3,716 4.69%
    Not provided 2 $90,000 $45,000 $2,068 5.38%

    Approval Rates

    Total approvals of all applications
    94.35%

    The Miners National Bank Of Eveleth has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.16%

    The Miners National Bank Of Eveleth has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 101 $14,435,000 $142,921

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $560,000 $93,333
    Single Family (1-4 Units):Site-Built 95 $13,875,000 $146,053

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $270,000 $135,000 $3,484 4.69%
    40-60% 6 $810,000 $135,000 $3,601 3.85%
    60-80% 33 $4,655,000 $141,061 $3,792 4.64%
    80-100% 57 $8,615,000 $151,140 $3,819 4.78%
    Under 20% 3 $85,000 $28,333 $227 5.50%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    TOWNE MORTGAGE, LLC FHA mortgage Closing on a mortgage 1 50.0%
    TOWNE MORTGAGE, LLC Home equity loan or line of credit (HELOC) Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Miners National Bank of Eveleth 401 Grant Avenue Eveleth, MN 55734 Full Service B&M $60,156

    For 2019, The Miners National Bank Of Eveleth had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,720
    Net interest income $2,496
    Total noninterest income $173
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $47
    Trading account gains and fees $0
    Additional Noninterest Income $126
    Pre-tax net operating income $440
    Securities gains (or losses, -) $-8
    Income before extraordinary items $390
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $390
    Minority interest net income $0
    Net income $390
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $397

    The Miners National Bank Of Eveleth's gross interest income from loans was $2,720,000.
    The Miners National Bank Of Eveleth's net interest income from loans was $2,496,000.
    The Miners National Bank Of Eveleth's fee based income from loans was $47,000.
    The Miners National Bank Of Eveleth's net income from loans was $390,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $224
    Provision for credit losses $35
    Total noninterest expense $2,194
    Salaries and employee benefits $1,367
    Premises and equipment expense $120
    Additional noninterest expense $707
    Applicable income taxes $42
    Net charge-offs $0
    Cash dividends $41

    The Miners National Bank Of Eveleth's interest expense for loans was $224,000.
    The Miners National Bank Of Eveleth's payroll and benefits expense were $1,367,000.
    The Miners National Bank Of Eveleth's property, plant and equipment expenses $120,000.

    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 0.0%
    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 $62,754
    Deposits held in domestic offices $62,754
    Deposits by Individuals, partnerships, and corporations $45,979
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $16,775
    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 $33,497
    Demand deposits $14,250
    Nontransaction accounts $29,257
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $22,680
    Total time deposits $6,577
    Total time and savings deposits $48,504
    Noninterest-bearing deposits $14,250
    Interest-bearing deposits $48,504
    Retail deposits $60,379
    IRAs and Keogh plan accounts $4,525
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $69,662
    Cash & Balances due from depository institutions $16,198
    Interest-bearing balances $14,098
    Total securities $16,421
    Federal funds sold & reverse repurchase $0
    Net loans and leases $33,050
    Loan and leases loss allowance $278
    Trading account assets $0
    Bank premises and fixed assets $939
    Other real estate owned $249
    Goodwill and other intangibles $0
    All other assets $2,805

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $69,662
    Total Liabilities $63,588
    Total deposits $62,754
    Interest-bearing deposits $48,504
    Deposits held in domestic offices $62,754
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $834

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $33,050
    Loan and leases loss allowance $278
    Total loans and leases (domestic) $33,328
    All real estate loans $26,666
    Real estate loans in domestic offices $26,666
    Construction and development loans $3,704
    Residential 1-4 family construction $3,110
    Other construction, all land development and other land $594
    Loans secured by nonfarm nonresidential properties $3,756
    Nonfarm nonresidential secured by owner-occupied properties $3,756
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $0
    1-4 family residential loans $19,206
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,565
    To non-U.S. addressees $0
    Loans to individuals $3,788
    Credit card loans $0
    Related Plans $19
    Consumer Auto Loans $1,136
    Other loans to individuals $2,633
    All other loans & leases $1,309
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Miners National Bank of Eveleth had $33,050,000 of loans outstanding in 2019. $26,666,000 of loans were in real estate loans. $3,704,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $19,206,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,136,000 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 31 $2,963 $95,581
    Nonfarm, nonresidential loans - <$100k 16 $426 $26,625
    Nonfarm, nonresidential loans - $100-250k 9 $934 $103,778
    Nonfarm, nonresidential loans - $250k-1MM 6 $1,603 $267,167
    Commercial & Industrial, US addressed loans - <$1MM 20 $1,565 $78,250
    Commercial & Industrial, US addressed loans - <$100k 14 $292 $20,857
    Commercial & Industrial, US addressed loans - $100-250k 2 $279 $139,500
    Commercial & Industrial, US addressed loans - $250k-1MM 4 $994 $248,500