Security Bank & Trust Company Mortgage Rates, Fees & Info
Waconia, MNLEI: 254900J2U7OF6AWF3P54
Tax ID: 41-0531690
Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Security Bank & Trust Company is a smaller bank specializing in Home Purchase loans. Security Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Hutchinson, Duluth, Fargo, and Rochester among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Security Bank & Trust Company has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
136Origination Dollar Volume (All Markets)
$51,920,000Top 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 |
|---|---|---|---|---|---|
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 104 | $34,570,000 | $332,404 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 16 | $10,660,000 | $666,250 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $1,360,000 | $340,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 4 | $1,200,000 | $300,000 | $0 | 0.00% |
| FARGO, ND-MN (FHA|USDA|VA) | 2 | $1,160,000 | $580,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 136 | $51,920,000 | $381,765 | $0 | 0.00% |
For 2024, Security Bank & Trust Company's most frequently originated type of loan was Conventional, with 136 originations.
Loan Reason
For 2024, Security Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 90 originations. The 2nd most popular reason was Refi, with 33 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 136 | $51,920,000 | $381,765 | $0 | 0.00% |
For 2024, Security Bank & Trust Company's most frequently cited loan duration was Other, with 136 originations.
Loan Sizing
2024 saw Security Bank & Trust Company place emphasis on $200k-400k loans with 50 originations, totaling $14,420,000 in origination value.
Applicant Income
Security Bank & Trust Company lent most frequently to those with incomes in the $150k-250k range, with 19 originations. The second most popular income band? $250k+, with 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 136 | $51,920,000 | $381,765 | $0 | 0.00% |
Security Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 136 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.33%
Security Bank & Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination92.65%
Security Bank & Trust Company has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 136 | $51,920,000 | $381,765 |