Starion Bank Mortgage Rates, Fees & Info

Bismarck, ND

LEI: 54930019RBT2SM6CQS78

Tax ID: 45-0427679

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Mortgage Data

Bank Data

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.

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

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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






Your Estimates

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

577

Origination Dollar Volume (All Markets)

$190,795,000

Employee count

231 Show all (6) 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
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%
Starion Bank's top markets include Bismarck, Fargo, Madison, Sioux Falls, and Phoenix among others.

Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
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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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 257 $70,955,000 $276,089 $3,927 3.11%
    Refi 225 $95,075,000 $422,556 $2,604 3.16%
    Cash Out Refi 76 $22,100,000 $290,789 $3,898 2.78%
    Home Improvement 17 $2,325,000 $136,765 $1,632 3.74%
    Other 2 $340,000 $170,000 $3,779 2.13%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 279 $75,595,000 $270,950 $3,723 2.83%
    5 Year 137 $57,055,000 $416,460 $403 3.92%
    15 Year 79 $16,625,000 $210,443 $3,283 2.38%
    Other 27 $25,715,000 $952,407 $1,099 3.75%
    20 Year 22 $6,060,000 $275,455 $3,305 2.54%
    10 Year 20 $3,850,000 $192,500 $1,989 3.24%
    3 Year 7 $5,075,000 $725,000 $360 3.65%
    1 Year 6 $820,000 $136,667 $0 4.50%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 191 $46,245,000 $242,120
    $1k-2k 84 $14,750,000 $175,595
    $2k-3k 61 $13,975,000 $229,098
    $3k-4k 45 $13,975,000 $310,556
    $4k-5k 16 $6,850,000 $428,125
    $5k+ 11 $5,865,000 $533,182

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 244 $67,440,000 $276,393 $3,678 2.93%
    $100k-200k 196 $30,700,000 $156,633 $2,850 3.24%
    $400k-600k 55 $26,025,000 $473,182 $5,091 2.88%
    $100,000 or less 54 $3,320,000 $61,481 $1,762 3.28%
    $1MM+ 19 $56,315,000 $2,963,947 $0 3.73%
    $600k-1MM 9 $6,995,000 $777,222 $6,628 3.75%

    2021 saw Starion Bank place emphasis on $200k-400k loans with 244 originations, totaling $67,440,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 108 $28,390,000 $262,870 $3,532 2.75%
    $50k-75k 72 $13,640,000 $189,444 $3,031 2.77%
    $150k-250k 65 $20,675,000 $318,077 $3,855 2.74%
    $75k-100k 62 $14,860,000 $239,677 $3,486 2.69%
    $50k or less 57 $7,945,000 $139,386 $2,850 3.08%
    $250k+ 47 $15,045,000 $320,106 $3,977 2.93%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 149 $37,485,000 $251,577 $3,437 2.67%
    30-36% 72 $18,590,000 $258,194 $3,469 2.78%
    <20% 65 $14,065,000 $216,385 $2,841 2.87%
    44% 18 $4,280,000 $237,778 $4,104 2.81%
    38% 17 $4,725,000 $277,941 $3,358 2.75%
    39% 15 $2,895,000 $193,000 $2,357 3.15%
    43% 12 $2,180,000 $181,667 $2,809 2.65%
    41% 11 $3,035,000 $275,909 $3,230 2.68%
    36% 10 $2,740,000 $274,000 $5,842 3.04%
    42% 8 $2,700,000 $337,500 $3,945 3.00%
    37% 8 $1,700,000 $212,500 $3,627 2.83%
    50-60% 8 $2,380,000 $297,500 $8,244 3.56%
    48% 7 $1,225,000 $175,000 $2,496 3.02%
    45% 7 $1,835,000 $262,143 $2,473 2.95%
    40% 7 $2,215,000 $316,429 $5,329 2.94%
    49% 5 $1,385,000 $277,000 $4,613 2.48%
    46% 5 $1,155,000 $231,000 $3,976 2.62%
    47% 5 $1,195,000 $239,000 $3,064 2.70%
    >60% 3 $255,000 $85,000 $0 3.96%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 363 $89,745,000 $247,231 $3,497 2.81%
    Not applicable 137 $83,145,000 $606,898 $0 3.99%
    Not provided 56 $13,180,000 $235,357 $3,369 2.79%
    Asian 13 $3,495,000 $268,846 $1,968 3.10%
    American Indian 7 $1,005,000 $143,571 $3,659 3.49%
    Asian Indian 1 $225,000 $225,000 $1,040 2.00%

    Approval Rates

    Total approvals of all applications
    97.07%

    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 origination
    73.66%

    Starion Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 577 $190,795,000 $330,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    577 $190,795,000 $330,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $5,875,000 $189,516 $2,295 3.23%
    40-60% 77 $21,365,000 $277,468 $2,646 2.88%
    60-80% 294 $109,840,000 $373,605 $3,245 3.21%
    80-100% 152 $48,610,000 $319,803 $4,440 2.90%
    Over 100% 5 $3,515,000 $703,000 $0 3.93%
    Under 20% 18 $1,590,000 $88,333 $576 3.46%

    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