Starion Bank Mortgage Rates, Fees & Info
Bismarck, NDLEI: 54930019RBT2SM6CQS78
Tax ID: 45-0427679
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Review & Overview
Starion Bank is a smaller bank specializing in Home Purchase and Refi loans. Starion Bank 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Bismarck, Fargo, Madison, Sioux Falls, and Phoenix among others. We have data for 36 markets. (Some data included below & more in-depth data is available with an active subscription.)Starion Bank 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. Starion Bank 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.34% | 12/3/24 |
30 Year Conventional Refi | 6.49% | 12/3/24 |
30 Year Cash-out Refi | 6.68% | 12/3/24 |
30 Year FHA Purchase | 7.11% | 12/3/24 |
15 Year Conventional Purchase | 5.51% | 12/3/24 |
15 Year Conventional Refi | 5.96% | 12/3/24 |
15 Year Cash-out Refi | 5.96% | 12/3/24 |
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. |
Starion Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
577Origination Dollar Volume (All Markets)
$190,795,000Employee count
231 Show all (6) awardsStarion Bank - 2021
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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 |
---|---|---|---|---|---|
BISMARCK, ND (FHA|USDA|VA) | 231 | $66,585,000 | $288,247 | $4,177 | 2.94% |
FARGO, ND-MN (FHA|USDA|VA) | 105 | $44,105,000 | $420,048 | $4,101 | 3.57% |
MADISON, WI (FHA|USDA|VA) | 93 | $43,305,000 | $465,645 | $1,293 | 3.08% |
Outside of Metro Areas | 82 | $16,750,000 | $204,268 | $3,379 | 3.04% |
SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $2,855,000 | $2,855,000 | $0 | 2.95% |
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 7 | $2,355,000 | $336,429 | $5,371 | 2.96% |
Baraboo, WI (FHA|USDA|VA) | 5 | $1,315,000 | $263,000 | $1,448 | 3.30% |
Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 2 | $1,280,000 | $640,000 | $795 | 4.00% |
APPLETON, WI (FHA|USDA|VA) | 5 | $1,205,000 | $241,000 | $1,336 | 2.83% |
Fergus Falls, MN (FHA|USDA|VA) | 4 | $1,040,000 | $260,000 | $4,030 | 4.00% |
Williston, ND (FHA|USDA|VA) | 2 | $860,000 | $430,000 | $4,979 | 3.56% |
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $3,390 | 2.75% |
JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $2,723 | 2.72% |
Dickinson, ND (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $5,799 | 2.50% |
Jamestown, ND (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $2,643 | 2.88% |
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $6,042 | 2.38% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $8,128 | 2.88% |
Minot, ND (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $0 | 3.75% |
Aberdeen, SD (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $9,733 | 3.13% |
Wahpeton, ND-MN (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $2,399 | 3.21% |
DULUTH, MN-WI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,155 | 3.13% |
CARSON CITY, NV (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $6,601 | 2.25% |
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $2,119 | 3.43% |
Beaver Dam, WI (FHA|USDA|VA) | 3 | $265,000 | $88,333 | $1,245 | 3.17% |
OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $690 | 2.88% |
WILMINGTON, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $628 | 2.63% |
JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,578 | 3.13% |
Brainerd, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,061 | 2.13% |
DECATUR, IL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,693 | 2.50% |
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,545 | 2.88% |
ROCKFORD, IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $700 | 3.13% |
GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $4,235 | 2.63% |
BILLINGS, MT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,898 | 2.88% |
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,016 | 2.88% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,096 | 2.00% |
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,111 | 3.13% |
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 569 | $189,195,000 | $332,504 | $3,375 | 3.11% |
FHA | 7 | $1,485,000 | $212,143 | $7,030 | 2.71% |
USDA | 1 | $115,000 | $115,000 | $5,386 | 2.70% |
For 2021, Starion Bank's most frequently originated type of loan was Conventional, with 569 originations. Their 2nd most popular type was FHA, with 7 originations.
Loan Reason
For 2021, Starion Bank's most frequently cited loan purpose was Home Purchase, with 257 originations. The 2nd most popular reason was Refi, with 225 originations.
Loan Duration/Length
For 2021, Starion Bank's most frequently cited loan duration was 30 Year, with 279 originations. The 2nd most popular length was 5 Year, with 137 originations.
Origination Fees/Closing Costs
Starion Bank's average total fees were $3,723, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 191 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
2.5-3% | 186 | $52,710,000 | $283,387 |
<2.5% | 152 | $38,020,000 | $250,132 |
3-4% | 148 | $78,720,000 | $531,892 |
4-5% | 85 | $20,875,000 | $245,588 |
5-6% | 6 | $470,000 | $78,333 |
During 2021, Starion Bank's average interest rate for loans was 2.83%, while their most frequently originated rate bucket for loans was 2.5-3%, with 186 originations.
Loan Sizing
2021 saw Starion Bank place emphasis on $200k-400k loans with 244 originations, totaling $67,440,000 in origination value.
Applicant Income
Starion Bank lent most frequently to those with incomes in the $100k-150k range, with 108 originations. The second most popular income band? $50k-75k, with 72 originations.
Applicant Debt to Income Ratio
Starion Bank lent most frequently to those with DTI ratios of 20-30%, with 149 originations. The next most common DTI ratio? 30-36%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.07%
Starion 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 origination73.66%
Starion Bank has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 577 | $190,795,000 | $330,667 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Stearns Ventures, LLC | Conventional home mortgage | Trouble during payment process | 7 | 53.8% |
Stearns Ventures, LLC | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 15.4% |
Stearns Ventures, LLC | Conventional home mortgage | Struggling to pay mortgage | 1 | 7.7% |
Stearns Ventures, LLC | VA mortgage | Trouble during payment process | 1 | 7.7% |
Stearns Ventures, LLC | Other type of mortgage | Closing on a mortgage | 1 | 7.7% |
Stearns Ventures, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.7% |
Bank Details
Branches
Bank Name | Branch | Branch Type | Deposits (000's) |
---|---|---|---|
Starion Bank | 100 Main Street Ellendale, ND 58436 | Full Service B&M | $73,760 |
Starion Bank | 1000 South Washington Street Bismarck, ND 58502 | Full Service B&M | $49,641 |
Starion Bank | 109 First Street, N.W. Mandan, ND 58554 | Full Service B&M | $399,294 |
Starion Bank | 11 Main Street Ne Dunseith, ND 58329 | Full Service B&M | $31,962 |
Starion Bank | 1300 Skyline Blvd Suite 101 Bismarck, ND 58503 | Full Service B&M | $7,625 |
Starion Bank | 1574 W Broadway, Suite 107 Madison, WI 53713 | Full Service B&M | $47,090 |
Starion Bank | 1651 John Q. Hammons Drive Middleton, WI 53562 | Full Service B&M | $92,923 |
Starion Bank | 2525 University Drive South Fargo, ND 58103 | Full Service B&M | $5,734 |
Starion Bank | 2754 Brandt Drive South Fargo, ND 58104 | Full Service B&M | $116,821 |
Starion Bank | 2900 North Washington Street Bismarck, ND 58502 | Full Service B&M | $93,928 |
Starion Bank | 309 Broadway N Fargo, ND 58102 | Full Service B&M | $4,787 |
Starion Bank | 333 North Fourth Street Bismarck, ND 58501 | Full Service B&M | $298,590 |
Starion Bank | 350 South Grand Avenue Sun Prairie, WI 53590 | Full Service B&M | $30,166 |
Starion Bank | 601 Main Avenue Oakes, ND 58474 | Full Service B&M | $64,134 |
Starion Bank | 804 East 11th Street Bottineau, ND 58318 | Full Service B&M | $14,962 |
Starion Bank | Main And 3rd Se Rolla, ND 58367 | Full Service B&M | $42,781 |
For 2021, Starion Bank had 16 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $53,541 |
Net interest income | $48,241 |
Total noninterest income | $8,204 |
Gross Fiduciary activities income | $0 |
Service charges on deposit accounts | $1,336 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $6,868 |
Pre-tax net operating income | $19,065 |
Securities gains (or losses, -) | $238 |
Income before extraordinary items | $19,303 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $19,303 |
Minority interest net income | $0 |
Net income | $19,303 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $19,065 |
Starion Bank's gross interest income from loans was $53,541,000.
Starion Bank's net interest income from loans was $48,241,000.
Starion Bank's fee based income from loans was $1,336,000.
Starion Bank's net income from loans was $19,303,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $5,300 |
Provision for credit losses | $2,000 |
Total noninterest expense | $35,380 |
Salaries and employee benefits | $21,933 |
Premises and equipment expense | $4,241 |
Additional noninterest expense | $9,206 |
Applicable income taxes | $0 |
Net charge-offs | $-40 |
Cash dividends | $5,050 |
Starion Bank's interest expense for loans was $5,300,000.
Starion Bank's payroll and benefits expense were $21,933,000.
Starion Bank's property, plant and equipment expenses $4,241,000.
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 | 1.0% |
Multifamily residential loans | 0.0% |
1-4 family residential loans | 0.0% |
HELOC loans | 1.0% |
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 | $1,535,192 |
Deposits held in domestic offices | $1,535,192 |
Deposits by Individuals, partnerships, and corporations | $1,280,892 |
Deposits by U.S. Government | $0 |
Deposits by States and political subdivisions in the U.S. | $247,893 |
Deposits by Commercial banks and other depository institutions in U.S. | $6,407 |
Deposits by Banks in foreign countries | $0 |
Deposits by Foreign governments and official institutions | $0 |
Transaction accounts | $734,142 |
Demand deposits | $298,719 |
Nontransaction accounts | $801,050 |
Money market deposit accounts (MMDAs) | $452,997 |
Other savings deposits (excluding MMDAs) | $122,695 |
Total time deposits | $225,358 |
Total time and savings deposits | $1,236,473 |
Noninterest-bearing deposits | $298,260 |
Interest-bearing deposits | $1,236,932 |
Retail deposits | $1,418,302 |
IRAs and Keogh plan accounts | $14,640 |
Brokered deposits | $0 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $1,755,068 |
Cash & Balances due from depository institutions | $91,854 |
Interest-bearing balances | $77,765 |
Total securities | $719,125 |
Federal funds sold & reverse repurchase | $0 |
Net loans and leases | $905,538 |
Loan and leases loss allowance | $15,912 |
Trading account assets | $0 |
Bank premises and fixed assets | $20,008 |
Other real estate owned | $0 |
Goodwill and other intangibles | $5,145 |
All other assets | $13,398 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $1,755,068 |
Total Liabilities | $1,575,975 |
Total deposits | $1,535,192 |
Interest-bearing deposits | $1,236,932 |
Deposits held in domestic offices | $1,535,192 |
% insured (estimated) | $56 |
Federal funds purchased and repurchase agreements | $3,476 |
Trading liabilities | $0 |
Other borrowed funds | $31,228 |
Subordinated debt | $0 |
All other liabilities | $6,079 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $905,538 |
Loan and leases loss allowance | $15,912 |
Total loans and leases (domestic) | $921,450 |
All real estate loans | $640,056 |
Real estate loans in domestic offices | $640,056 |
Construction and development loans | $60,162 |
Residential 1-4 family construction | $18,135 |
Other construction, all land development and other land | $42,027 |
Loans secured by nonfarm nonresidential properties | $296,400 |
Nonfarm nonresidential secured by owner-occupied properties | $132,835 |
Commercial real estate & other non-farm, non-residential | $163,565 |
Multifamily residential real estate | $95,022 |
1-4 family residential loans | $105,023 |
Farmland loans | $83,449 |
Loans held in foreign offices | $0 |
Farm loans | $73,716 |
Commercial and industrial loans | $137,291 |
To non-U.S. addressees | $0 |
Loans to individuals | $25,847 |
Credit card loans | $0 |
Related Plans | $7,402 |
Consumer Auto Loans | $12,545 |
Other loans to individuals | $5,900 |
All other loans & leases | $44,540 |
Loans to foreign governments and official institutions | $0 |
Other loans | $3,449 |
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 |
Starion Bank had $905,538,000 of loans outstanding in 2021. $640,056,000 of loans were in real estate loans. $60,162,000 of loans were in development loans. $95,022,000 of loans were in multifamily mortgage loans. $105,023,000 of loans were in 1-4 family mortgage loans. $73,716,000 of loans were in farm loans. $0 of loans were in credit card loans. $12,545,000 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 | 285 | $81,548 | $286,133 |
Nonfarm, nonresidential loans - <$100k | 48 | $2,201 | $45,854 |
Nonfarm, nonresidential loans - $100-250k | 75 | $10,740 | $143,200 |
Nonfarm, nonresidential loans - $250k-1MM | 162 | $68,607 | $423,500 |
Commercial & Industrial, US addressed loans - <$1MM | 964 | $57,843 | $60,003 |
Commercial & Industrial, US addressed loans - <$100k | 498 | $9,280 | $18,635 |
Commercial & Industrial, US addressed loans - $100-250k | 233 | $13,148 | $56,429 |
Commercial & Industrial, US addressed loans - $250k-1MM | 233 | $35,415 | $151,996 |
Farmland loans - <$1MM | 173 | $21,968 | $126,983 |
Farmland loans - <$100k | 55 | $2,365 | $43,000 |
Farmland loans - $100-250k | 70 | $9,193 | $131,329 |
Farmland loans - $250k-1MM | 48 | $10,410 | $216,875 |
Agriculture operations loans - <$1MM | 417 | $18,914 | $45,357 |
Agriculture operations loans - <$100k | 193 | $3,984 | $20,642 |
Agriculture operations loans - $100-250k | 112 | $5,989 | $53,473 |
Agriculture operations loans - $250k-1MM | 112 | $8,941 | $79,830 |