Tradition Capital Bank Mortgage Rates, Fees & Info

Edina, MN

LEI: 254900J67JRUY8SSE075

Tax ID: 20-3063093

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Tradition Capital Bank is a smaller bank specializing in Home Purchase and Refi loans. Tradition Capital Bank has a high proportion of conventional loans. Their top markets include Minneapolis, Phoenix, Duluth, Cape Coral, and Naples among others. Tradition Capital Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

120

Origination Dollar Volume (All Markets)

$126,390,000

Employee count

112

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 70 $97,860,000 $1,398,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $7,945,000 $1,135,000 $0 0.00%
Outside of Metro Areas 3 $2,175,000 $725,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 2 $1,930,000 $965,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 5 $1,755,000 $351,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $1,750,000 $875,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $1,745,000 $581,667 $0 0.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $1,655,000 $1,655,000 $0 0.00%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 1 $1,455,000 $1,455,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $925,000 $925,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $740,000 $370,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $650,000 $325,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $620,000 $310,000 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 2 $510,000 $255,000 $0 0.00%
Greenwood, SC (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
YUMA, AZ (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
ROCHESTER, MN (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%

Tradition Capital Bank's top markets include Minneapolis, Phoenix, Duluth, Cape Coral, and Naples among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 120 $126,390,000 $1,053,250 $0 0.00%

For the 2021 period, Tradition Capital Bank's most frequently originated loan type of loans were Conventional, with 120 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 66 $93,120,000 $1,410,909 $0 0.00%
Refi 45 $28,105,000 $624,556 $0 0.00%
Cash Out Refi 5 $1,865,000 $373,000 $0 0.00%
Other 4 $3,300,000 $825,000 $0 0.00%

For the 2021, Tradition Capital Bank's most frequently cited loan purpose of loans were Home Purchase, with 66 originations. The 2nd most popular reason of loans were Refi, with 45 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 120 $126,390,000 $1,053,250 $0 0.00%

For the 2021, Tradition Capital Bank's most frequently cited loan length of loans were Other, with 120 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 41 $11,905,000 $290,366 $0 0.00%
$1MM+ 29 $86,405,000 $2,979,483 $0 0.00%
$600k-1MM 25 $19,205,000 $768,200 $0 0.00%
$400k-600k 15 $7,355,000 $490,333 $0 0.00%
$100k-200k 8 $1,350,000 $168,750 $0 0.00%
$100,000 or less 2 $170,000 $85,000 $0 0.00%

2021 saw Tradition Capital Bank place emphasis on $200k-400k loans with 41 originations, totaling $11,905,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 41 $37,955,000 $925,732 $0 0.00%
$150k-250k 16 $9,340,000 $583,750 $0 0.00%
$100k-150k 15 $5,365,000 $357,667 $0 0.00%
$50k-75k 4 $940,000 $235,000 $0 0.00%
$75k-100k 3 $1,115,000 $371,667 $0 0.00%

Tradition Capital Bank lent most frequently to those with incomes in the $250k+ range, with 41 originations. The second most popular income band? $150k-250k, with 16 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 120 $126,390,000 $1,053,250 $0 0.00%

Tradition Capital Bank lent most frequently to those with DTI ratios of Exempt%, with 120 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 41 $71,675,000 $1,748,171 $0 0.00%
White 51 $34,515,000 $676,765 $0 0.00%
Not provided 25 $18,205,000 $728,200 $0 0.00%
Asian Indian 2 $1,450,000 $725,000 $0 0.00%
Asian 1 $545,000 $545,000 $0 0.00%

Approval Rates

Total approvals of all applications
98.63%

Tradition Capital 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
77.51%

Tradition Capital Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 120 $126,390,000 $1,053,250

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
120 $126,390,000 $1,053,250

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Tradition Capital Bank 100 Village Center Drive, Suite 101 North Oaks, MN 55127 Full Service B&M $179,967
Tradition Capital Bank 100 West Lake Street Wayzata, MN 55391 Full Service B&M $191,756
Tradition Capital Bank 7601 France Avenue South, Suite 140 Edina, MN 55435 Full Service B&M $825,590

For 2021, Tradition Capital Bank had 3 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $51,278
Net interest income $44,665
Total noninterest income $4,980
Gross Fiduciary activities income $0
Service charges on deposit accounts $855
Trading account gains and fees $0
Additional Noninterest Income $4,125
Pre-tax net operating income $18,740
Securities gains (or losses, -) $0
Income before extraordinary items $13,482
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $13,482
Minority interest net income $0
Net income $13,482
Sale, conversion, retirement of capital stock, net $0
Net operating income $13,482

Tradition Capital Bank's gross interest income from loans was $51,278,000.
Tradition Capital Bank's net interest income from loans was $44,665,000.
Tradition Capital Bank's fee based income from loans was $855,000.
Tradition Capital Bank's net income from loans was $13,482,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $6,613
Provision for credit losses $1,218
Total noninterest expense $29,687
Salaries and employee benefits $19,808
Premises and equipment expense $1,632
Additional noninterest expense $8,247
Applicable income taxes $5,258
Net charge-offs $-66
Cash dividends $0

Tradition Capital Bank's interest expense for loans was $6,613,000.
Tradition Capital Bank's payroll and benefits expense were $19,808,000.
Tradition Capital Bank's property, plant and equipment expenses $1,632,000.

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 $1,524,561
Deposits held in domestic offices $1,524,561
Deposits by Individuals, partnerships, and corporations $1,491,524
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $31,102
Deposits by Commercial banks and other depository institutions in U.S. $1,935
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $224,287
Demand deposits $224,287
Nontransaction accounts $1,300,274
Money market deposit accounts (MMDAs) $575,014
Other savings deposits (excluding MMDAs) $592,415
Total time deposits $132,845
Total time and savings deposits $1,300,274
Noninterest-bearing deposits $406,637
Interest-bearing deposits $1,117,924
Retail deposits $1,387,688
IRAs and Keogh plan accounts $12,315
Brokered deposits $24,001
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,786,164
Cash & Balances due from depository institutions $267,457
Interest-bearing balances $248,892
Total securities $375,551
Federal funds sold & reverse repurchase $0
Net loans and leases $1,122,714
Loan and leases loss allowance $15,008
Trading account assets $0
Bank premises and fixed assets $3,630
Other real estate owned $425
Goodwill and other intangibles $0
All other assets $16,387

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,786,164
Total Liabilities $1,643,758
Total deposits $1,524,561
Interest-bearing deposits $1,117,924
Deposits held in domestic offices $1,524,561
% insured (estimated) $34
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $110,000
Subordinated debt $0
All other liabilities $9,197

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,122,714
Loan and leases loss allowance $15,008
Total loans and leases (domestic) $1,137,722
All real estate loans $891,081
Real estate loans in domestic offices $891,081
Construction and development loans $242,535
Residential 1-4 family construction $127,982
Other construction, all land development and other land $114,553
Loans secured by nonfarm nonresidential properties $364,402
Nonfarm nonresidential secured by owner-occupied properties $141,909
Commercial real estate & other non-farm, non-residential $222,493
Multifamily residential real estate $58,048
1-4 family residential loans $221,723
Farmland loans $4,373
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $157,596
To non-U.S. addressees $0
Loans to individuals $9,325
Credit card loans $0
Related Plans $7,453
Consumer Auto Loans $189
Other loans to individuals $1,683
All other loans & leases $79,720
Loans to foreign governments and official institutions $0
Other loans $78,516
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $7,008
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $669
Non 1-4 family restructured loans & leases $669
Total loans and leases (foreign) $0

Tradition Capital Bank had $1,122,714,000 of loans outstanding in 2021. $891,081,000 of loans were in real estate loans. $242,535,000 of loans were in development loans. $58,048,000 of loans were in multifamily mortgage loans. $221,723,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $189,000 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 53 $22,679 $427,906
Nonfarm, nonresidential loans - <$100k 2 $56 $28,000
Nonfarm, nonresidential loans - $100-250k 7 $1,154 $164,857
Nonfarm, nonresidential loans - $250k-1MM 44 $21,469 $487,932
Commercial & Industrial, US addressed loans - <$1MM 196 $43,477 $221,821
Commercial & Industrial, US addressed loans - <$100k 48 $1,637 $34,104
Commercial & Industrial, US addressed loans - $100-250k 56 $7,856 $140,286
Commercial & Industrial, US addressed loans - $250k-1MM 92 $33,984 $369,391
Farmland loans - <$1MM 3 $550 $183,333
Farmland loans - $100-250k 2 $255 $127,500
Farmland loans - $250k-1MM 1 $295 $295,000