Manufacturers Bank & Trust Company Mortgage Rates, Fees & Info

Forest City, IA

LEI: 254900U7G0LJ4QNSFC86

Tax ID: 42-0627479

Latest/2024 | 2023 Data | 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
  • 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 and Refi 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 Minneapolis among others. We have data for 18 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 an above 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    381

    Origination Dollar Volume (All Markets)

    $71,655,000

    Employee count

    111

    Awards

    Manufacturers Bank & Trust Company 30 Year Conventional Loans gold Manufacturers Bank & Trust Company 30 Year Conventional Loans gold 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) 76 $26,750,000 $351,974 $4,301 3.04%
    Outside of Metro Areas 152 $19,520,000 $128,421 $3,360 3.08%
    Mason City, IA (FHA|USDA|VA) 87 $13,705,000 $157,529 $3,508 3.09%
    Albert Lea, MN (FHA|USDA|VA) 28 $4,240,000 $151,429 $3,510 3.62%
    Austin, MN (FHA|USDA|VA) 21 $2,745,000 $130,714 $4,322 3.54%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $810,000 $405,000 $6,937 3.06%
    MANKATO, MN (FHA|USDA|VA) 2 $660,000 $330,000 $0 3.25%
    DULUTH, MN-WI (FHA|USDA|VA) 2 $630,000 $315,000 $0 4.14%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $455,000 $455,000 $3,606 3.13%
    Red Wing, MN (FHA|USDA|VA) 1 $435,000 $435,000 $4,692 2.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $310,000 $155,000 $0 3.90%
    Spirit Lake, IA (FHA|USDA|VA) 1 $285,000 $285,000 $7,454 2.75%
    Freeport, IL (FHA|USDA|VA) 1 $215,000 $215,000 $6,185 3.13%
    Fairmont, MN (FHA|USDA|VA) 1 $165,000 $165,000 $3,617 2.25%
    Winona, MN (FHA|USDA|VA) 1 $155,000 $155,000 $3,253 2.88%
    Grand Rapids, MN (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.85%
    Owatonna, MN (FHA|USDA|VA) 1 $115,000 $115,000 $2,427 2.13%
    Manufacturers Bank & Trust Company's top markets include Rochester, Mason City, Albert Lea, Austin, and Minneapolis among others.

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

    GREENSTATE CREDIT UNION
    Similarity Rank: 215
    Bankers' Bank
    Similarity Rank: 426
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 711
    Coulee Bank
    Similarity Rank: 756
    WNB Financial, N.A.
    Similarity Rank: 900
    Manufacturers Bank & Trust Company
    Similarity Rank: 1080
    RESULTS MORTGAGE, LLC
    Similarity Rank: 1113
    Tradition Mortgage, LLC
    Similarity Rank: 1804
    MAYO EMPLOYEES FEDERAL CREDIT UNION
    Similarity Rank: 2088
    AFFINITY PLUS
    Similarity Rank: 2442

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 381 $71,655,000 $188,071 $3,635 3.15%

    For 2021, Manufacturers Bank & Trust Company's most frequently originated type of loan was Conventional, with 381 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 177 $34,355,000 $194,096 $3,654 3.28%
    Refi 117 $23,655,000 $202,179 $3,250 3.00%
    Cash Out Refi 73 $12,415,000 $170,068 $4,402 2.73%
    Home Improvement 9 $875,000 $97,222 $1,282 4.72%
    Other 5 $355,000 $71,000 $945 4.98%

    For 2021, Manufacturers Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 177 originations. The 2nd most popular reason was Refi, with 117 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 157 $29,475,000 $187,739 $4,412 2.92%
    15 Year 75 $9,395,000 $125,267 $2,890 2.44%
    20 Year 48 $5,690,000 $118,542 $3,520 4.10%
    10 Year 42 $6,540,000 $155,714 $2,588 2.93%
    5 Year 31 $15,685,000 $505,968 $336 3.65%
    Other 18 $3,980,000 $221,111 $3,712 4.29%
    1 Year 10 $890,000 $89,000 $1,062 4.80%

    For 2021, Manufacturers Bank & Trust Company's most frequently cited loan duration was 30 Year, with 157 originations. The 2nd most popular length was 15 Year, with 75 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 88 $9,690,000 $110,114
    $2k-3k 62 $11,220,000 $180,968
    $<1k 58 $3,570,000 $61,552
    $3k-4k 38 $9,210,000 $242,368
    $5k+ 28 $7,980,000 $285,000
    $4k-5k 20 $5,520,000 $276,000

    Manufacturers Bank & Trust Company's average total fees were $4,412, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 88 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 161 $28,435,000 $176,615
    3-4% 85 $28,055,000 $330,059
    <2.5% 78 $9,920,000 $127,179
    4-5% 44 $4,470,000 $101,591
    5-6% 10 $650,000 $65,000
    7-8% 3 $125,000 $41,667

    During 2021, Manufacturers Bank & Trust Company's average interest rate for loans was 2.92%, while their most frequently originated rate bucket for loans was 2.5-3%, with 161 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 133 $19,355,000 $145,526 $3,662 2.91%
    $100,000 or less 129 $8,075,000 $62,597 $1,897 3.43%
    $200k-400k 97 $26,365,000 $271,804 $5,456 3.06%
    $400k-600k 16 $7,590,000 $474,375 $6,472 3.31%
    $1MM+ 4 $8,950,000 $2,237,500 $0 3.25%
    $600k-1MM 2 $1,320,000 $660,000 $0 3.44%

    2021 saw Manufacturers Bank & Trust Company place emphasis on $100k-200k loans with 133 originations, totaling $19,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 81 $7,805,000 $96,358 $2,527 2.98%
    $50k-75k 70 $9,710,000 $138,714 $3,336 2.85%
    $100k-150k 68 $13,710,000 $201,618 $4,378 2.97%
    $75k-100k 68 $11,040,000 $162,353 $3,906 3.23%
    $250k+ 29 $5,565,000 $191,897 $4,422 3.48%
    $150k-250k 17 $5,275,000 $310,294 $5,615 2.94%

    Manufacturers Bank & Trust Company lent most frequently to those with incomes in the $50k or less range, with 81 originations. The second most popular income band? $50k-75k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 91 $13,345,000 $146,648 $3,374 2.92%
    30-36% 68 $11,470,000 $168,676 $3,900 2.88%
    <20% 52 $6,210,000 $119,423 $2,947 3.02%
    38% 12 $2,150,000 $179,167 $3,824 2.93%
    40% 12 $1,930,000 $160,833 $4,326 2.77%
    42% 11 $1,845,000 $167,727 $3,692 3.34%
    39% 10 $1,910,000 $191,000 $4,307 2.73%
    41% 10 $1,520,000 $152,000 $3,968 3.90%
    43% 9 $1,525,000 $169,444 $4,703 2.86%
    36% 7 $1,295,000 $185,000 $3,690 3.55%
    37% 6 $1,070,000 $178,333 $3,747 2.77%
    44% 5 $1,545,000 $309,000 $5,006 2.68%
    47% 5 $965,000 $193,000 $4,496 2.68%
    45% 3 $605,000 $201,667 $3,933 2.50%
    46% 3 $495,000 $165,000 $4,290 3.00%
    49% 3 $535,000 $178,333 $3,301 2.58%
    >60% 2 $270,000 $135,000 $1,372 3.20%
    48% 1 $125,000 $125,000 $2,723 2.38%

    Manufacturers Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 91 originations. The next most common DTI ratio? 30-36%, with 68 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 327 $50,785,000 $155,306 $3,559 3.08%
    Not applicable 36 $16,180,000 $449,444 $0 4.06%
    Not provided 9 $2,455,000 $272,778 $5,305 2.68%
    Asian 5 $1,185,000 $237,000 $3,735 2.30%
    Black 3 $695,000 $231,667 $5,509 2.92%
    Asian Indian 1 $355,000 $355,000 $5,367 2.13%

    Approval Rates

    Total approvals of all applications
    95.07%

    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
    93.70%

    Manufacturers Bank & Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 381 $71,655,000 $188,071

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    381 $71,655,000 $188,071

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $9,030,000 $225,750 $2,241 3.46%
    40-60% 72 $15,000,000 $208,333 $2,846 3.01%
    60-80% 150 $27,000,000 $180,000 $4,222 3.10%
    80-100% 92 $17,130,000 $186,196 $4,157 2.88%
    Over 100% 1 $85,000 $85,000 $0 4.75%
    Under 20% 25 $3,285,000 $131,400 $494 4.26%

    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 $67,223
    Manufacturers Bank & Trust Company 1919 East Highway 18 Clear Lake, IA 50428 Full Service B&M $62,929
    Manufacturers Bank & Trust Company 245 J Street Forest City, IA 50436 Full Service B&M $181,840
    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 $36,887

    For 2021, Manufacturers Bank & Trust Company had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,930
    Net interest income $16,707
    Total noninterest income $4,653
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $557
    Trading account gains and fees $0
    Additional Noninterest Income $4,096
    Pre-tax net operating income $7,825
    Securities gains (or losses, -) $213
    Income before extraordinary items $7,774
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,774
    Minority interest net income $0
    Net income $7,774
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,567

    Manufacturers Bank & Trust Company's gross interest income from loans was $17,930,000.
    Manufacturers Bank & Trust Company's net interest income from loans was $16,707,000.
    Manufacturers Bank & Trust Company's fee based income from loans was $557,000.
    Manufacturers Bank & Trust Company's net income from loans was $7,774,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,223
    Provision for credit losses $695
    Total noninterest expense $12,840
    Salaries and employee benefits $8,197
    Premises and equipment expense $1,928
    Additional noninterest expense $2,715
    Applicable income taxes $264
    Net charge-offs $-45
    Cash dividends $8,789

    Manufacturers Bank & Trust Company's interest expense for loans was $1,223,000.
    Manufacturers Bank & Trust Company's payroll and benefits expense were $8,197,000.
    Manufacturers Bank & Trust Company's property, plant and equipment expenses $1,928,000.

    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 $589,638
    Deposits held in domestic offices $589,638
    Deposits by Individuals, partnerships, and corporations $535,806
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $53,795
    Deposits by Commercial banks and other depository institutions in U.S. $37
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $313,355
    Demand deposits $148,785
    Nontransaction accounts $276,283
    Money market deposit accounts (MMDAs) $92,344
    Other savings deposits (excluding MMDAs) $105,540
    Total time deposits $78,399
    Total time and savings deposits $440,853
    Noninterest-bearing deposits $149,831
    Interest-bearing deposits $439,807
    Retail deposits $572,046
    IRAs and Keogh plan accounts $15,931
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $690,030
    Cash & Balances due from depository institutions $28,848
    Interest-bearing balances $13,309
    Total securities $195,824
    Federal funds sold & reverse repurchase $18,455
    Net loans and leases $408,962
    Loan and leases loss allowance $5,004
    Trading account assets $0
    Bank premises and fixed assets $5,225
    Other real estate owned $0
    Goodwill and other intangibles $12,407
    All other assets $20,309

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $690,030
    Total Liabilities $622,839
    Total deposits $589,638
    Interest-bearing deposits $439,807
    Deposits held in domestic offices $589,638
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $14,504
    Trading liabilities $0
    Other borrowed funds $14,459
    Subordinated debt $0
    All other liabilities $4,238

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $408,962
    Loan and leases loss allowance $5,004
    Total loans and leases (domestic) $413,966
    All real estate loans $268,815
    Real estate loans in domestic offices $268,815
    Construction and development loans $35,305
    Residential 1-4 family construction $17,736
    Other construction, all land development and other land $17,569
    Loans secured by nonfarm nonresidential properties $63,699
    Nonfarm nonresidential secured by owner-occupied properties $50,659
    Commercial real estate & other non-farm, non-residential $13,040
    Multifamily residential real estate $13,760
    1-4 family residential loans $71,586
    Farmland loans $84,465
    Loans held in foreign offices $0
    Farm loans $66,485
    Commercial and industrial loans $64,097
    To non-U.S. addressees $0
    Loans to individuals $11,651
    Credit card loans $0
    Related Plans $235
    Consumer Auto Loans $6,287
    Other loans to individuals $5,129
    All other loans & leases $2,933
    Loans to foreign governments and official institutions $0
    Other loans $349
    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 $380
    Non 1-4 family restructured loans & leases $380
    Total loans and leases (foreign) $0

    Manufacturers Bank & Trust Company had $408,962,000 of loans outstanding in 2021. $268,815,000 of loans were in real estate loans. $35,305,000 of loans were in development loans. $13,760,000 of loans were in multifamily mortgage loans. $71,586,000 of loans were in 1-4 family mortgage loans. $66,485,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,287,000 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 255 $37,872 $148,518
    Nonfarm, nonresidential loans - <$100k 95 $3,589 $37,779
    Nonfarm, nonresidential loans - $100-250k 101 $11,818 $117,010
    Nonfarm, nonresidential loans - $250k-1MM 59 $22,465 $380,763
    Commercial & Industrial, US addressed loans - <$1MM 522 $31,334 $60,027
    Commercial & Industrial, US addressed loans - <$100k 386 $7,445 $19,288
    Commercial & Industrial, US addressed loans - $100-250k 76 $7,225 $95,066
    Commercial & Industrial, US addressed loans - $250k-1MM 60 $16,664 $277,733
    Farmland loans - <$1MM 273 $38,548 $141,201
    Farmland loans - <$100k 77 $2,917 $37,883
    Farmland loans - $100-250k 99 $10,440 $105,455
    Farmland loans - $250k-1MM 97 $25,191 $259,701
    Agriculture operations loans - <$1MM 417 $31,835 $76,343
    Agriculture operations loans - <$100k 259 $5,902 $22,788
    Agriculture operations loans - $100-250k 85 $9,186 $108,071
    Agriculture operations loans - $250k-1MM 73 $16,747 $229,411