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, Cash Out Refi, and Refi loans. The Miners National Bank Of Eveleth has a high proportion of conventional loans. Their top markets by origination volume include: Duluth, Minneapolis, Grand Rapids, and Tampa 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

    197

    Origination Dollar Volume (All Markets)

    $35,005,000

    Employee count

    17

    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) 185 $32,295,000 $174,568 $3,974 3.27%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 7 $1,835,000 $262,143 $6,629 3.70%
    Grand Rapids, MN (FHA|USDA|VA) 2 $370,000 $185,000 $4,437 4.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $290,000 $145,000 $3,019 3.50%
    Outside of Metro Areas 1 $215,000 $215,000 $4,715 4.75%
    The Miners National Bank Of Eveleth's top markets include Duluth, Minneapolis, Grand Rapids, and Tampa among others.

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

    Western National Bank
    Similarity Rank: 120
    NORTHWOODS
    Similarity Rank: 156
    SUPERIOR CHOICE
    Similarity Rank: 198
    The Miners National Bank of Eveleth
    Similarity Rank: 400
    Alerus Financial
    Similarity Rank: 938
    Lake Area Bank
    Similarity Rank: 1008
    Tradition Mortgage, LLC
    Similarity Rank: 1274
    North Shore Bank of Commerce
    Similarity Rank: 1343
    AFFINITY PLUS
    Similarity Rank: 1922
    RESULTS MORTGAGE, LLC
    Similarity Rank: 1974

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 197 $35,005,000 $177,690 $4,054 3.30%

    For 2020, The Miners National Bank Of Eveleth's most frequently originated type of loan was Conventional, with 197 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 94 $15,380,000 $163,617 $3,966 3.64%
    Cash Out Refi 59 $10,205,000 $172,966 $4,200 3.08%
    Refi 42 $9,120,000 $217,143 $4,072 2.87%
    Other 2 $300,000 $150,000 $3,594 3.31%

    For 2020, The Miners National Bank Of Eveleth's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Cash Out Refi, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 121 $23,225,000 $191,942 $4,183 3.38%
    15 Year 35 $4,285,000 $122,429 $3,646 3.08%
    20 Year 22 $3,690,000 $167,727 $3,919 3.26%
    Other 11 $3,125,000 $284,091 $5,199 3.55%
    10 Year 8 $680,000 $85,000 $2,648 2.95%

    For 2020, The Miners National Bank Of Eveleth's most frequently cited loan duration was 30 Year, with 121 originations. The 2nd most popular length was 15 Year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 81 $13,795,000 $170,309
    $1k-2k 49 $4,465,000 $91,122
    $<1k 28 $4,680,000 $167,143
    $3k-4k 27 $7,805,000 $289,074
    $4k-5k 7 $2,475,000 $353,571
    $5k+ 4 $1,750,000 $437,500

    The Miners National Bank Of Eveleth's average total fees were $4,183, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 81 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 69 $12,185,000 $176,594
    3-4% 60 $12,250,000 $204,167
    <2.5% 33 $5,145,000 $155,909
    4-5% 26 $4,390,000 $168,846
    5-6% 8 $1,000,000 $125,000
    6-7% 1 $35,000 $35,000

    During 2020, The Miners National Bank Of Eveleth's average interest rate for loans was 3.38%, while their most frequently originated rate bucket for loans was 2.5-3%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 87 $12,725,000 $146,264 $4,051 3.04%
    $100,000 or less 53 $3,085,000 $58,208 $2,788 3.76%
    $200k-400k 46 $12,580,000 $273,478 $5,083 3.19%
    $400k-600k 6 $2,900,000 $483,333 $6,316 3.31%
    $600k-1MM 5 $3,715,000 $743,000 $5,109 3.93%

    2020 saw The Miners National Bank Of Eveleth place emphasis on $100k-200k loans with 87 originations, totaling $12,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 50 $11,360,000 $227,200 $4,369 3.17%
    $50k or less 46 $4,280,000 $93,043 $3,152 3.50%
    $50k-75k 41 $5,515,000 $134,512 $3,654 3.32%
    $75k-100k 33 $5,405,000 $163,788 $4,249 3.00%
    $150k-250k 19 $4,215,000 $221,842 $5,094 3.55%
    $250k+ 7 $4,195,000 $599,286 $6,341 3.39%

    The Miners National Bank Of Eveleth lent most frequently to those with incomes in the $100k-150k range, with 50 originations. The second most popular income band? $50k or less, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 72 $11,930,000 $165,694 $4,081 3.22%
    <20% 37 $6,285,000 $169,865 $3,913 3.23%
    30-36% 34 $6,630,000 $195,000 $4,162 3.25%
    41% 9 $1,595,000 $177,222 $3,745 3.39%
    42% 9 $1,335,000 $148,333 $4,205 3.53%
    37% 6 $1,240,000 $206,667 $3,710 3.25%
    40% 6 $1,050,000 $175,000 $4,116 3.35%
    39% 6 $920,000 $153,333 $3,633 3.19%
    43% 4 $1,100,000 $275,000 $4,526 3.00%
    36% 3 $405,000 $135,000 $4,158 3.00%
    44% 2 $380,000 $190,000 $4,663 4.06%
    >60% 2 $900,000 $450,000 $4,958 4.19%
    50-60% 2 $430,000 $215,000 $4,845 4.81%
    48% 1 $265,000 $265,000 $1,517 4.75%
    49% 1 $75,000 $75,000 $3,410 5.50%
    38% 1 $295,000 $295,000 $5,593 2.88%
    45% 1 $135,000 $135,000 $4,257 2.63%

    The Miners National Bank Of Eveleth lent most frequently to those with DTI ratios of 20-30%, with 72 originations. The next most common DTI ratio? <20%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 190 $33,790,000 $177,842 $4,044 3.30%
    Not provided 5 $855,000 $171,000 $4,602 3.73%
    American Indian 2 $360,000 $180,000 $3,706 2.88%

    Approval Rates

    Total approvals of all applications
    95.67%

    The Miners National Bank Of Eveleth 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
    89.34%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 197 $35,005,000 $177,690

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 6 $720,000 $120,000
    Single Family (1-4 Units):Site-Built 191 $34,285,000 $179,503

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $685,000 $97,857 $3,186 3.41%
    40-60% 22 $3,400,000 $154,545 $3,737 2.83%
    60-80% 80 $15,470,000 $193,375 $4,211 3.23%
    80-100% 85 $15,355,000 $180,647 $4,185 3.49%
    Under 20% 3 $95,000 $31,667 $259 3.29%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    TOWNE MORTGAGE COMPANY Conventional home mortgage Trouble during payment process 2 100.0%

    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 $63,461

    For 2020, The Miners National Bank Of Eveleth had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,319
    Net interest income $3,091
    Total noninterest income $154
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $38
    Trading account gains and fees $0
    Additional Noninterest Income $116
    Pre-tax net operating income $515
    Securities gains (or losses, -) $0
    Income before extraordinary items $442
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $442
    Minority interest net income $0
    Net income $442
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $442

    The Miners National Bank Of Eveleth's gross interest income from loans was $3,319,000.
    The Miners National Bank Of Eveleth's net interest income from loans was $3,091,000.
    The Miners National Bank Of Eveleth's fee based income from loans was $38,000.
    The Miners National Bank Of Eveleth's net income from loans was $442,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $228
    Provision for credit losses $124
    Total noninterest expense $2,606
    Salaries and employee benefits $1,712
    Premises and equipment expense $137
    Additional noninterest expense $757
    Applicable income taxes $73
    Net charge-offs $1
    Cash dividends $40

    The Miners National Bank Of Eveleth's interest expense for loans was $228,000.
    The Miners National Bank Of Eveleth's payroll and benefits expense were $1,712,000.
    The Miners National Bank Of Eveleth's property, plant and equipment expenses $137,000.

    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 $71,873
    Deposits held in domestic offices $71,873
    Deposits by Individuals, partnerships, and corporations $51,904
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $19,969
    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 $39,701
    Demand deposits $16,920
    Nontransaction accounts $32,172
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $25,547
    Total time deposits $6,625
    Total time and savings deposits $54,953
    Noninterest-bearing deposits $16,920
    Interest-bearing deposits $54,953
    Retail deposits $69,348
    IRAs and Keogh plan accounts $4,472
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $79,120
    Cash & Balances due from depository institutions $17,567
    Interest-bearing balances $15,190
    Total securities $14,613
    Federal funds sold & reverse repurchase $0
    Net loans and leases $43,165
    Loan and leases loss allowance $401
    Trading account assets $0
    Bank premises and fixed assets $1,165
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,610

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $79,120
    Total Liabilities $72,522
    Total deposits $71,873
    Interest-bearing deposits $54,953
    Deposits held in domestic offices $71,873
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $649

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $43,165
    Loan and leases loss allowance $401
    Total loans and leases (domestic) $43,566
    All real estate loans $37,082
    Real estate loans in domestic offices $37,082
    Construction and development loans $3,253
    Residential 1-4 family construction $1,948
    Other construction, all land development and other land $1,305
    Loans secured by nonfarm nonresidential properties $3,518
    Nonfarm nonresidential secured by owner-occupied properties $3,518
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $0
    1-4 family residential loans $30,311
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,959
    To non-U.S. addressees $0
    Loans to individuals $2,995
    Credit card loans $0
    Related Plans $16
    Consumer Auto Loans $857
    Other loans to individuals $2,122
    All other loans & leases $1,530
    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 $43,165,000 of loans outstanding in 2020. $37,082,000 of loans were in real estate loans. $3,253,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $30,311,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $857,000 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 $2,845 $91,774
    Nonfarm, nonresidential loans - <$100k 17 $432 $25,412
    Nonfarm, nonresidential loans - $100-250k 7 $769 $109,857
    Nonfarm, nonresidential loans - $250k-1MM 7 $1,644 $234,857
    Commercial & Industrial, US addressed loans - <$1MM 36 $1,959 $54,417
    Commercial & Industrial, US addressed loans - <$100k 28 $610 $21,786
    Commercial & Industrial, US addressed loans - $100-250k 3 $514 $171,333
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $835 $167,000