Manufacturers Bank & Trust Company Mortgage Rates, Fees & Info

Forest City, IA

LEI: 254900U7G0LJ4QNSFC86

Tax ID: 42-0627479

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Manufacturers Bank & Trust Company is a smaller bank specializing in Home Purchase loans. Manufacturers Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Mason City, Albert Lea, Austin, and St. Cloud among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Manufacturers Bank & Trust Company 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. Manufacturers Bank & Trust Company 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    286

    Origination Dollar Volume (All Markets)

    $39,980,000

    Employee count

    73

    Awards

    Manufacturers Bank & Trust Company 30 Year Conventional Loans bronze Manufacturers Bank & Trust Company 30 Year Conventional Loans silver Manufacturers Bank & Trust Company 30 Year Conventional Loans silver
    Show all (3) awards

    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
    ROCHESTER, MN (FHA|USDA|VA) 77 $15,955,000 $207,208 $4,611 4.67%
    Outside of Metro Areas 90 $8,950,000 $99,444 $2,813 4.72%
    Mason City, IA (FHA|USDA|VA) 44 $6,810,000 $154,773 $3,510 4.84%
    Albert Lea, MN (FHA|USDA|VA) 30 $3,390,000 $113,000 $3,692 5.04%
    Austin, MN (FHA|USDA|VA) 35 $2,065,000 $59,000 $4,105 4.93%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $885,000 $885,000 $0 4.25%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $715,000 $238,333 $6,040 4.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $505,000 $505,000 $0 4.35%
    BLOOMINGTON, IL (FHA|USDA|VA) 1 $225,000 $225,000 $7,148 4.50%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $195,000 $195,000 $5,561 4.38%
    Red Wing, MN (FHA|USDA|VA) 2 $180,000 $90,000 $1,276 3.75%
    MANKATO, MN (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.50%
    Manufacturers Bank & Trust Company's top markets include Rochester, Mason City, Albert Lea, Austin, and St. Cloud among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Manufacturers Bank & Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    HomeTown Bank
    Similarity Rank: 300
    Bankers' Bank
    Similarity Rank: 330
    First Alliance Credit Union
    Similarity Rank: 405
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 424
    Merchants Bank
    Similarity Rank: 464
    MAYO EMPLOYEES FEDERAL CREDIT UNION
    Similarity Rank: 540
    Manufacturers Bank & Trust Company
    Similarity Rank: 552
    AFFINITY PLUS
    Similarity Rank: 783
    Home Federal Savings Bank
    Similarity Rank: 990
    RESULTS MORTGAGE, LLC
    Similarity Rank: 1024

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 286 $39,980,000 $139,790 $3,645 4.77%

    For 2018, Manufacturers Bank & Trust Company's most frequently originated type of loan was Conventional, with 286 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 198 $29,110,000 $147,020 $3,926 4.71%
    Refi 49 $7,165,000 $146,224 $2,708 5.09%
    Cash Out Refi 20 $2,800,000 $140,000 $4,309 4.15%
    Home Improvement 11 $605,000 $55,000 $726 5.52%
    Other 8 $300,000 $37,500 $1,159 4.72%

    For 2018, Manufacturers Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 198 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 110 $19,830,000 $180,273 $4,299 4.56%
    20 Year 54 $3,360,000 $62,222 $2,711 5.07%
    15 Year 50 $5,420,000 $108,400 $2,293 4.66%
    5 Year 23 $4,305,000 $187,174 $403 4.82%
    Other 20 $2,760,000 $138,000 $4,088 5.11%
    1 Year 16 $1,460,000 $91,250 $1,297 5.19%
    10 Year 7 $645,000 $92,143 $2,285 5.01%
    30+ year 6 $2,200,000 $366,667 $5,790 4.00%

    For 2018, Manufacturers Bank & Trust Company's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 20 Year, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 67 $8,665,000 $129,328
    $2k-3k 43 $8,595,000 $199,884
    $<1k 41 $2,505,000 $61,098
    $3k-4k 17 $3,605,000 $212,059
    $5k+ 12 $3,720,000 $310,000
    $4k-5k 11 $2,995,000 $272,273

    Manufacturers Bank & Trust Company's average total fees were $4,299, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 67 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 167 $24,815,000 $148,593
    5-6% 53 $5,795,000 $109,340
    3-4% 48 $8,560,000 $178,333
    6-7% 14 $660,000 $47,143
    <2.5% 1 $25,000 $25,000
    7-8% 1 $25,000 $25,000

    During 2018, Manufacturers Bank & Trust Company's average interest rate for loans was 4.56%, while their most frequently originated rate bucket for loans was 4-5%, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 139 $7,645,000 $55,000 $2,149 4.94%
    $100k-200k 77 $10,995,000 $142,792 $3,508 4.67%
    $200k-400k 59 $15,575,000 $263,983 $5,644 4.60%
    $400k-600k 9 $3,975,000 $441,667 $6,432 4.22%
    $600k-1MM 2 $1,790,000 $895,000 $1,106 4.60%

    2018 saw Manufacturers Bank & Trust Company place emphasis on $100,000 or less loans with 139 originations, totaling $7,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 68 $5,920,000 $87,059 $2,594 4.68%
    $50k-75k 45 $5,675,000 $126,111 $3,504 4.66%
    $100k-150k 42 $8,150,000 $194,048 $4,725 4.77%
    $75k-100k 34 $5,070,000 $149,118 $3,713 4.84%
    $150k-250k 24 $5,710,000 $237,917 $5,146 4.71%
    $250k+ 8 $2,510,000 $313,750 $4,409 4.88%

    Manufacturers Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 68 originations. The second most popular income band? $50k-75k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 45 $6,115,000 $135,889 $3,598 4.70%
    30-36% 37 $5,485,000 $148,243 $3,232 4.60%
    <20% 19 $3,205,000 $168,684 $3,016 4.45%
    43% 11 $2,035,000 $185,000 $3,422 4.62%
    39% 10 $2,000,000 $200,000 $4,143 4.49%
    47% 9 $1,715,000 $190,556 $3,883 4.21%
    40% 8 $1,260,000 $157,500 $3,796 4.86%
    37% 8 $1,070,000 $133,750 $3,479 5.01%
    38% 7 $675,000 $96,429 $3,613 5.11%
    42% 7 $1,005,000 $143,571 $3,838 4.14%
    46% 6 $1,120,000 $186,667 $4,553 4.38%
    45% 6 $790,000 $131,667 $3,799 4.21%
    41% 5 $785,000 $157,000 $4,259 4.95%
    36% 5 $905,000 $181,000 $4,717 4.63%
    48% 5 $875,000 $175,000 $3,312 4.10%
    44% 2 $610,000 $305,000 $6,348 4.00%
    50-60% 1 $435,000 $435,000 $6,427 4.00%

    Manufacturers Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 218 $32,580,000 $149,450 $3,621 4.69%
    Not applicable 58 $5,790,000 $99,828 $0 5.05%
    Black 5 $685,000 $137,000 $3,050 4.77%
    Not provided 3 $645,000 $215,000 $6,742 4.63%
    Asian 2 $280,000 $140,000 $2,539 5.18%

    Approval Rates

    Total approvals of all applications
    95.51%

    Manufacturers 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 origination
    88.46%

    Manufacturers Bank & Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 286 $39,980,000 $139,790

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $2,800,000 $233,333
    Single Family (1-4 Units):Site-Built 274 $37,180,000 $135,693

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 39 $3,645,000 $93,462 $1,710 5.10%
    40-60% 33 $4,635,000 $140,455 $3,623 4.82%
    60-80% 94 $14,980,000 $159,362 $4,228 4.70%
    80-100% 95 $14,435,000 $151,947 $4,116 4.55%
    Over 100% 1 $175,000 $175,000 $0 4.75%
    Under 20% 24 $2,110,000 $87,917 $346 5.28%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Manufacturers Bank & Trust Company 106 West Main Street Lake Mills, IA 50450 Full Service B&M $50,454
    Manufacturers Bank & Trust Company 1919 East Highway 18 Clear Lake, IA 50428 Full Service B&M $54,927
    Manufacturers Bank & Trust Company 201 State Street Crystal Lake, IA 50432 Full Service B&M $13,326
    Manufacturers Bank & Trust Company 245 J Street Forest City, IA 50436 Full Service B&M $128,056
    Manufacturers Bank & Trust Company 300 1st Avenue North Clear Lake, IA 50428 Full Service B&M $0
    Manufacturers Bank & Trust Company 4408 Hwy 52 Nw Rochester, MN 55901 Full Service B&M $23,610

    For 2018, Manufacturers Bank & Trust Company had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,774
    Net interest income $11,848
    Total noninterest income $3,667
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $677
    Trading account gains and fees $0
    Additional Noninterest Income $2,990
    Pre-tax net operating income $5,767
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,562
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,562
    Minority interest net income $0
    Net income $5,562
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,562

    Manufacturers Bank & Trust Company's gross interest income from loans was $13,774,000.
    Manufacturers Bank & Trust Company's net interest income from loans was $11,848,000.
    Manufacturers Bank & Trust Company's fee based income from loans was $677,000.
    Manufacturers Bank & Trust Company's net income from loans was $5,562,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,926
    Provision for credit losses $180
    Total noninterest expense $9,568
    Salaries and employee benefits $5,968
    Premises and equipment expense $1,334
    Additional noninterest expense $2,266
    Applicable income taxes $205
    Net charge-offs $56
    Cash dividends $2,339

    Manufacturers Bank & Trust Company's interest expense for loans was $1,926,000.
    Manufacturers Bank & Trust Company's payroll and benefits expense were $5,968,000.
    Manufacturers Bank & Trust Company's property, plant and equipment expenses $1,334,000.

    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 $277,432
    Deposits held in domestic offices $277,432
    Deposits by Individuals, partnerships, and corporations $245,613
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $28,810
    Deposits by Commercial banks and other depository institutions in U.S. $3,010
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $125,178
    Demand deposits $47,756
    Nontransaction accounts $152,255
    Money market deposit accounts (MMDAs) $32,419
    Other savings deposits (excluding MMDAs) $37,569
    Total time deposits $82,267
    Total time and savings deposits $229,677
    Noninterest-bearing deposits $47,756
    Interest-bearing deposits $229,676
    Retail deposits $255,391
    IRAs and Keogh plan accounts $11,320
    Brokered deposits $4,318
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $347,126
    Cash & Balances due from depository institutions $6,540
    Interest-bearing balances $994
    Total securities $74,848
    Federal funds sold & reverse repurchase $0
    Net loans and leases $248,732
    Loan and leases loss allowance $3,974
    Trading account assets $0
    Bank premises and fixed assets $2,997
    Other real estate owned $15
    Goodwill and other intangibles $118
    All other assets $13,876

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $347,126
    Total Liabilities $303,149
    Total deposits $277,432
    Interest-bearing deposits $229,676
    Deposits held in domestic offices $277,432
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $5,318
    Trading liabilities $0
    Other borrowed funds $17,240
    Subordinated debt $0
    All other liabilities $3,159

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $248,732
    Loan and leases loss allowance $3,974
    Total loans and leases (domestic) $252,706
    All real estate loans $164,287
    Real estate loans in domestic offices $164,287
    Construction and development loans $20,578
    Residential 1-4 family construction $12,529
    Other construction, all land development and other land $8,049
    Loans secured by nonfarm nonresidential properties $47,164
    Nonfarm nonresidential secured by owner-occupied properties $32,638
    Commercial real estate & other non-farm, non-residential $14,526
    Multifamily residential real estate $6,253
    1-4 family residential loans $46,987
    Farmland loans $43,305
    Loans held in foreign offices $0
    Farm loans $37,007
    Commercial and industrial loans $40,867
    To non-U.S. addressees $0
    Loans to individuals $7,766
    Credit card loans $0
    Related Plans $246
    Consumer Auto Loans $3,503
    Other loans to individuals $4,017
    All other loans & leases $2,811
    Loans to foreign governments and official institutions $0
    Other loans $152
    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 $5
    Non 1-4 family restructured loans & leases $5
    Total loans and leases (foreign) $0

    Manufacturers Bank & Trust Company had $248,732,000 of loans outstanding in 2018. $164,287,000 of loans were in real estate loans. $20,578,000 of loans were in development loans. $6,253,000 of loans were in multifamily mortgage loans. $46,987,000 of loans were in 1-4 family mortgage loans. $37,007,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,503,000 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 187 $28,505 $152,433
    Nonfarm, nonresidential loans - <$100k 82 $2,965 $36,159
    Nonfarm, nonresidential loans - $100-250k 61 $7,891 $129,361
    Nonfarm, nonresidential loans - $250k-1MM 44 $17,649 $401,114
    Commercial & Industrial, US addressed loans - <$1MM 513 $34,182 $66,632
    Commercial & Industrial, US addressed loans - <$100k 379 $7,747 $20,441
    Commercial & Industrial, US addressed loans - $100-250k 76 $7,937 $104,434
    Commercial & Industrial, US addressed loans - $250k-1MM 58 $18,498 $318,931
    Farmland loans - <$1MM 161 $22,485 $139,658
    Farmland loans - <$100k 47 $1,765 $37,553
    Farmland loans - $100-250k 75 $9,328 $124,373
    Farmland loans - $250k-1MM 39 $11,392 $292,103
    Agriculture operations loans - <$1MM 413 $29,910 $72,421
    Agriculture operations loans - <$100k 264 $7,434 $28,159
    Agriculture operations loans - $100-250k 99 $11,911 $120,313
    Agriculture operations loans - $250k-1MM 50 $10,565 $211,300