Premier Bank Rochester Mortgage Rates, Fees & Info

Rochester, MN

LEI: 5493000TKDOVU0150P51

Tax ID: 41-1677554

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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

    Premier Bank Rochester is a smaller bank specializing in Home Purchase loans. Premier Bank Rochester has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Minneapolis, Red Wing, and Winona among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Premier Bank Rochester has an average approval rate when compared to the average across all lenders. They have a below 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.

    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

    48

    Origination Dollar Volume (All Markets)

    $27,140,000

    Employee count

    28

    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) 43 $26,045,000 $605,698 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $650,000 $325,000 $0 0.00%
    Red Wing, MN (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    Winona, MN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Outside of Metro Areas 1 $75,000 $75,000 $0 0.00%
    Premier Bank Rochester's top markets include Rochester, Minneapolis, Red Wing, and Winona among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 48 $27,140,000 $565,417 $0 0.00%

    For 2018, Premier Bank Rochester's most frequently originated type of loan was Conventional, with 48 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 42 $26,460,000 $630,000 $0 0.00%
    Refi 4 $630,000 $157,500 $0 0.00%
    Other 2 $50,000 $25,000 $0 0.00%

    For 2018, Premier Bank Rochester's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 48 $27,140,000 $565,417 $0 0.00%

    For 2018, Premier Bank Rochester's most frequently cited loan duration was Other, with 48 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 22 $3,120,000 $141,818 $0 0.00%
    $200k-400k 12 $2,950,000 $245,833 $0 0.00%
    $100,000 or less 11 $695,000 $63,182 $0 0.00%
    $1MM+ 1 $19,315,000 $19,315,000 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%
    $600k-1MM 1 $655,000 $655,000 $0 0.00%

    2018 saw Premier Bank Rochester place emphasis on $100k-200k loans with 22 originations, totaling $3,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 6 $840,000 $140,000 $0 0.00%
    $100k-150k 5 $1,045,000 $209,000 $0 0.00%
    $75k-100k 3 $255,000 $85,000 $0 0.00%
    $50k or less 2 $200,000 $100,000 $0 0.00%
    $150k-250k 1 $245,000 $245,000 $0 0.00%
    $250k+ 1 $215,000 $215,000 $0 0.00%

    Premier Bank Rochester lent most frequently to those with incomes in the $50k-75k range, with 6 originations. The second most popular income band? $100k-150k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 48 $27,140,000 $565,417 $0 0.00%

    Premier Bank Rochester lent most frequently to those with DTI ratios of Exempt%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 30 $24,340,000 $811,333 $0 0.00%
    White 13 $1,725,000 $132,692 $0 0.00%
    Not provided 4 $670,000 $167,500 $0 0.00%
    Asian 1 $405,000 $405,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.39%

    Premier Bank Rochester has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.08%

    Premier Bank Rochester has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 48 $27,140,000 $565,417

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $655,000 $655,000
    Multifamily:Site-Built 1 $19,315,000 $19,315,000
    Single Family (1-4 Units):Site-Built 46 $7,170,000 $155,870

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    PRIMARY RESIDENTIAL MORTGAGE VA mortgage Closing on a mortgage 1 5.9%
    PRIMARY RESIDENTIAL MORTGAGE Conventional home mortgage Struggling to pay mortgage 2 11.8%
    PRIMARY RESIDENTIAL MORTGAGE Conventional home mortgage Trouble during payment process 4 23.5%
    PRIMARY RESIDENTIAL MORTGAGE FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.9%
    PRIMARY RESIDENTIAL MORTGAGE FHA mortgage Closing on a mortgage 1 5.9%
    PRIMARY RESIDENTIAL MORTGAGE FHA mortgage Struggling to pay mortgage 4 23.5%
    PRIMARY RESIDENTIAL MORTGAGE FHA mortgage Trouble during payment process 2 11.8%
    PRIMARY RESIDENTIAL MORTGAGE Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.9%
    PRIMARY RESIDENTIAL MORTGAGE Other type of mortgage Struggling to pay mortgage 1 5.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Premier Bank Rochester 1706 Greenview Place, S.W. Rochester, MN 55901 Full Service B&M $37,866
    Premier Bank Rochester 3145 Wellner Drive Ne Rochester, MN 55906 Full Service B&M $39,037
    Premier Bank Rochester 3800 North Highway 52. Rochester, MN 55901 Full Service B&M $28,491
    Premier Bank Rochester 421 First Avenue, S.W. Rochester, MN 55902 Full Service B&M $69,624

    For 2018, Premier Bank Rochester had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,593
    Net interest income $7,794
    Total noninterest income $766
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $177
    Trading account gains and fees $0
    Additional Noninterest Income $589
    Pre-tax net operating income $3,574
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,574
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,574
    Minority interest net income $0
    Net income $3,574
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,574

    Premier Bank Rochester's gross interest income from loans was $8,593,000.
    Premier Bank Rochester's net interest income from loans was $7,794,000.
    Premier Bank Rochester's fee based income from loans was $177,000.
    Premier Bank Rochester's net income from loans was $3,574,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $799
    Provision for credit losses $90
    Total noninterest expense $4,896
    Salaries and employee benefits $2,362
    Premises and equipment expense $709
    Additional noninterest expense $1,825
    Applicable income taxes $0
    Net charge-offs $-8
    Cash dividends $969

    Premier Bank Rochester's interest expense for loans was $799,000.
    Premier Bank Rochester's payroll and benefits expense were $2,362,000.
    Premier Bank Rochester's property, plant and equipment expenses $709,000.

    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 3.0%
    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 $188,011
    Deposits held in domestic offices $188,011
    Deposits by Individuals, partnerships, and corporations $175,710
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $3,605
    Deposits by Commercial banks and other depository institutions in U.S. $8,695
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $65,925
    Demand deposits $33,076
    Nontransaction accounts $122,086
    Money market deposit accounts (MMDAs) $59,934
    Other savings deposits (excluding MMDAs) $10,924
    Total time deposits $51,228
    Total time and savings deposits $154,935
    Noninterest-bearing deposits $33,076
    Interest-bearing deposits $154,935
    Retail deposits $172,907
    IRAs and Keogh plan accounts $3,159
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $209,810
    Cash & Balances due from depository institutions $7,582
    Interest-bearing balances $4,405
    Total securities $17,844
    Federal funds sold & reverse repurchase $850
    Net loans and leases $177,264
    Loan and leases loss allowance $1,516
    Trading account assets $0
    Bank premises and fixed assets $4,167
    Other real estate owned $350
    Goodwill and other intangibles $0
    All other assets $1,753

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $209,810
    Total Liabilities $188,732
    Total deposits $188,011
    Interest-bearing deposits $154,935
    Deposits held in domestic offices $188,011
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $721

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $177,264
    Loan and leases loss allowance $1,516
    Total loans and leases (domestic) $178,780
    All real estate loans $157,459
    Real estate loans in domestic offices $157,459
    Construction and development loans $21,307
    Residential 1-4 family construction $12,086
    Other construction, all land development and other land $9,221
    Loans secured by nonfarm nonresidential properties $100,786
    Nonfarm nonresidential secured by owner-occupied properties $61,322
    Commercial real estate & other non-farm, non-residential $39,464
    Multifamily residential real estate $7,144
    1-4 family residential loans $24,158
    Farmland loans $4,064
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $17,970
    To non-U.S. addressees $0
    Loans to individuals $275
    Credit card loans $0
    Related Plans $40
    Consumer Auto Loans $142
    Other loans to individuals $93
    All other loans & leases $3,076
    Loans to foreign governments and official institutions $0
    Other loans $269
    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 $769
    Non 1-4 family restructured loans & leases $769
    Total loans and leases (foreign) $0

    Premier Bank Rochester had $177,264,000 of loans outstanding in 2018. $157,459,000 of loans were in real estate loans. $21,307,000 of loans were in development loans. $7,144,000 of loans were in multifamily mortgage loans. $24,158,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $142,000 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 121 $47,472 $392,331
    Nonfarm, nonresidential loans - <$100k 14 $1,001 $71,500
    Nonfarm, nonresidential loans - $100-250k 28 $4,546 $162,357
    Nonfarm, nonresidential loans - $250k-1MM 79 $41,925 $530,696
    Commercial & Industrial, US addressed loans - <$1MM 89 $15,137 $170,079
    Commercial & Industrial, US addressed loans - <$100k 46 $1,700 $36,957
    Commercial & Industrial, US addressed loans - $100-250k 18 $2,468 $137,111
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $10,969 $438,760
    Farmland loans - <$1MM 11 $1,882 $171,091
    Farmland loans - <$100k 4 $132 $33,000
    Farmland loans - $100-250k 3 $468 $156,000
    Farmland loans - $250k-1MM 4 $1,282 $320,500