Community Bank Mankato Mortgage Rates, Fees & Info

Vernon Center, MN

LEI: 254900X5VVSXLQGRTJ55

Tax ID: 41-0557430

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Mortgage Data

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

    Community Bank Mankato is a smaller bank specializing in Home Purchase and Refi loans. Community Bank Mankato has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Mankato, Lansing, Minneapolis, Owatonna, and Duluth among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Bank Mankato 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.

    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

    218

    Origination Dollar Volume (All Markets)

    $53,910,000

    Employee count

    63

    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
    MANKATO, MN (FHA|USDA|VA) 181 $40,635,000 $224,503 $0 0.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $3,905,000 $3,905,000 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 15 $3,755,000 $250,333 $0 0.00%
    Owatonna, MN (FHA|USDA|VA) 2 $3,000,000 $1,500,000 $0 0.00%
    Outside of Metro Areas 12 $1,050,000 $87,500 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
    ROCHESTER, MN (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    Faribault-Northfield, MN (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
    Brainerd, MN (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Albert Lea, MN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Fairmont, MN (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Community Bank Mankato's top markets include Mankato, Lansing, Minneapolis, Owatonna, and Duluth among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 217 $53,525,000 $246,659 $0 0.00%
    FHA 1 $385,000 $385,000 $0 0.00%

    For 2019, Community Bank Mankato's most frequently originated type of loan was Conventional, with 217 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 100 $29,720,000 $297,200 $0 0.00%
    Refi 69 $15,045,000 $218,043 $0 0.00%
    Cash Out Refi 33 $7,505,000 $227,424 $0 0.00%
    Home Improvement 15 $1,595,000 $106,333 $0 0.00%
    Other 1 $45,000 $45,000 $0 0.00%

    For 2019, Community Bank Mankato's most frequently cited loan purpose was Home Purchase, with 100 originations. The 2nd most popular reason was Refi, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 218 $53,910,000 $247,294 $0 0.00%

    For 2019, Community Bank Mankato's most frequently cited loan duration was Other, with 218 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 83 $12,295,000 $148,133 $0 0.00%
    $200k-400k 71 $19,965,000 $281,197 $0 0.00%
    $100,000 or less 47 $2,555,000 $54,362 $0 0.00%
    $400k-600k 7 $3,425,000 $489,286 $0 0.00%
    $600k-1MM 6 $4,270,000 $711,667 $0 0.00%
    $1MM+ 4 $11,400,000 $2,850,000 $0 0.00%

    2019 saw Community Bank Mankato place emphasis on $100k-200k loans with 83 originations, totaling $12,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 36 $6,420,000 $178,333 $0 0.00%
    $100k-150k 34 $8,690,000 $255,588 $0 0.00%
    $50k or less 26 $2,890,000 $111,154 $0 0.00%
    $75k-100k 23 $4,395,000 $191,087 $0 0.00%
    $150k-250k 14 $4,960,000 $354,286 $0 0.00%
    $250k+ 7 $1,165,000 $166,429 $0 0.00%

    Community Bank Mankato lent most frequently to those with incomes in the $50k-75k range, with 36 originations. The second most popular income band? $100k-150k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 218 $53,910,000 $247,294 $0 0.00%

    Community Bank Mankato lent most frequently to those with DTI ratios of Exempt%, with 218 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 142 $29,180,000 $205,493 $0 0.00%
    Not applicable 73 $24,205,000 $331,575 $0 0.00%
    Asian 2 $510,000 $255,000 $0 0.00%
    Not provided 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.67%

    Community Bank Mankato 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
    98.62%

    Community Bank Mankato has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 218 $53,910,000 $247,294

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 24 $18,540,000 $772,500
    Single Family (1-4 Units):Manufactured 2 $230,000 $115,000
    Single Family (1-4 Units):Site-Built 192 $35,140,000 $183,021

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Closing on a mortgage 1 20.0%
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Trouble during payment process 3 60.0%
    COMMUNITY BANK SYSTEM, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 1 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Community Bank Mankato 201 East Main Street Vernon Center, MN 56090 Full Service B&M $21,001
    Community Bank Mankato 203 East Main Street Amboy, MN 56010 Full Service B&M $16,686
    Community Bank Mankato 300 St. Andrews Drive Mankato, MN 56001 Full Service B&M $104,571
    Community Bank Mankato 405 Parkway Avenue Eagle Lake, MN 56024 Full Service Retail $1,361
    Community Bank Mankato 951 Madison Avenue Mankato, MN 56001 Full Service B&M $131,267

    For 2019, Community Bank Mankato had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,508
    Net interest income $11,774
    Total noninterest income $918
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $275
    Trading account gains and fees $0
    Additional Noninterest Income $643
    Pre-tax net operating income $4,167
    Securities gains (or losses, -) $-2
    Income before extraordinary items $2,966
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,966
    Minority interest net income $0
    Net income $2,966
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,967

    Community Bank Mankato's gross interest income from loans was $15,508,000.
    Community Bank Mankato's net interest income from loans was $11,774,000.
    Community Bank Mankato's fee based income from loans was $275,000.
    Community Bank Mankato's net income from loans was $2,966,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,734
    Provision for credit losses $345
    Total noninterest expense $8,180
    Salaries and employee benefits $5,198
    Premises and equipment expense $777
    Additional noninterest expense $2,205
    Applicable income taxes $1,199
    Net charge-offs $218
    Cash dividends $500

    Community Bank Mankato's interest expense for loans was $3,734,000.
    Community Bank Mankato's payroll and benefits expense were $5,198,000.
    Community Bank Mankato's property, plant and equipment expenses $777,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    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 $296,886
    Deposits held in domestic offices $296,886
    Deposits by Individuals, partnerships, and corporations $291,384
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $4,641
    Deposits by Commercial banks and other depository institutions in U.S. $861
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $90,761
    Demand deposits $43,400
    Nontransaction accounts $206,125
    Money market deposit accounts (MMDAs) $11,636
    Other savings deposits (excluding MMDAs) $66,176
    Total time deposits $128,313
    Total time and savings deposits $253,486
    Noninterest-bearing deposits $45,113
    Interest-bearing deposits $251,773
    Retail deposits $278,003
    IRAs and Keogh plan accounts $12,448
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $333,412
    Cash & Balances due from depository institutions $18,940
    Interest-bearing balances $15,492
    Total securities $1,014
    Federal funds sold & reverse repurchase $28,816
    Net loans and leases $274,728
    Loan and leases loss allowance $2,869
    Trading account assets $0
    Bank premises and fixed assets $3,967
    Other real estate owned $1,302
    Goodwill and other intangibles $942
    All other assets $3,703

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $333,412
    Total Liabilities $305,505
    Total deposits $296,886
    Interest-bearing deposits $251,773
    Deposits held in domestic offices $296,886
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $2,561
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $1,058

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $274,728
    Loan and leases loss allowance $2,869
    Total loans and leases (domestic) $277,597
    All real estate loans $230,945
    Real estate loans in domestic offices $230,945
    Construction and development loans $22,860
    Residential 1-4 family construction $9,821
    Other construction, all land development and other land $13,039
    Loans secured by nonfarm nonresidential properties $83,322
    Nonfarm nonresidential secured by owner-occupied properties $77,530
    Commercial real estate & other non-farm, non-residential $5,792
    Multifamily residential real estate $43,824
    1-4 family residential loans $49,180
    Farmland loans $31,759
    Loans held in foreign offices $0
    Farm loans $18,595
    Commercial and industrial loans $20,854
    To non-U.S. addressees $0
    Loans to individuals $6,621
    Credit card loans $0
    Related Plans $103
    Consumer Auto Loans $2,176
    Other loans to individuals $4,342
    All other loans & leases $582
    Loans to foreign governments and official institutions $0
    Other loans $582
    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

    Community Bank Mankato had $274,728,000 of loans outstanding in 2019. $230,945,000 of loans were in real estate loans. $22,860,000 of loans were in development loans. $43,824,000 of loans were in multifamily mortgage loans. $49,180,000 of loans were in 1-4 family mortgage loans. $18,595,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,176,000 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 157 $32,568 $207,439
    Nonfarm, nonresidential loans - <$100k 35 $1,331 $38,029
    Nonfarm, nonresidential loans - $100-250k 49 $6,273 $128,020
    Nonfarm, nonresidential loans - $250k-1MM 73 $24,964 $341,973
    Commercial & Industrial, US addressed loans - <$1MM 177 $14,104 $79,684
    Commercial & Industrial, US addressed loans - <$100k 119 $3,179 $26,714
    Commercial & Industrial, US addressed loans - $100-250k 31 $3,272 $105,548
    Commercial & Industrial, US addressed loans - $250k-1MM 27 $7,653 $283,444
    Farmland loans - <$1MM 60 $9,801 $163,350
    Farmland loans - <$100k 17 $804 $47,294
    Farmland loans - $100-250k 22 $2,938 $133,545
    Farmland loans - $250k-1MM 21 $6,059 $288,524
    Agriculture operations loans - <$1MM 66 $6,634 $100,515
    Agriculture operations loans - <$100k 36 $880 $24,444
    Agriculture operations loans - $100-250k 16 $1,810 $113,125
    Agriculture operations loans - $250k-1MM 14 $3,944 $281,714