The First National Bank Of Le Center Mortgage Rates, Fees & Info

Le Center, MN

LEI: 5493002XYKZPDHNHJY97

Tax ID: 41-0371076

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

Jump to:

Mortgage Data

Bank Data

Review & Overview

The First National Bank Of Le Center is a smaller bank specializing in Refi and Home Improvement loans. The First National Bank Of Le Center has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Faribault, Mankato, Willmar, and Brainerd among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

The First National Bank Of Le Center 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.

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

108

Origination Dollar Volume (All Markets)

$24,050,000

Employee count

18

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 92 $21,350,000 $232,065 $0 0.00%
Faribault-Northfield, MN (FHA|USDA|VA) 5 $1,025,000 $205,000 $0 0.00%
Outside of Metro Areas 5 $725,000 $145,000 $0 0.00%
MANKATO, MN (FHA|USDA|VA) 4 $590,000 $147,500 $0 0.00%
Willmar, MN (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Brainerd, MN (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
The First National Bank Of Le Center's top markets include Minneapolis, Faribault, Mankato, Willmar, and Brainerd among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 108 $24,050,000 $222,685 $0 0.00%

    For 2020, The First National Bank Of Le Center's most frequently originated type of loan was Conventional, with 108 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 46 $10,200,000 $221,739 $0 0.00%
    Home Improvement 41 $10,175,000 $248,171 $0 0.00%
    Home Purchase 16 $2,680,000 $167,500 $0 0.00%
    Cash Out Refi 5 $995,000 $199,000 $0 0.00%

    For 2020, The First National Bank Of Le Center's most frequently cited loan purpose was Refi, with 46 originations. The 2nd most popular reason was Home Improvement, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 108 $24,050,000 $222,685 $0 0.00%

    For 2020, The First National Bank Of Le Center's most frequently cited loan duration was Other, with 108 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 49 $13,505,000 $275,612 $0 0.00%
    $100k-200k 43 $6,755,000 $157,093 $0 0.00%
    $100,000 or less 9 $635,000 $70,556 $0 0.00%
    $400k-600k 7 $3,155,000 $450,714 $0 0.00%

    2020 saw The First National Bank Of Le Center place emphasis on $200k-400k loans with 49 originations, totaling $13,505,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 39 $9,485,000 $243,205 $0 0.00%
    $75k-100k 22 $4,110,000 $186,818 $0 0.00%
    $150k-250k 16 $5,250,000 $328,125 $0 0.00%
    $50k-75k 15 $2,645,000 $176,333 $0 0.00%
    $50k or less 14 $1,700,000 $121,429 $0 0.00%
    $250k+ 2 $860,000 $430,000 $0 0.00%

    The First National Bank Of Le Center lent most frequently to those with incomes in the $100k-150k range, with 39 originations. The second most popular income band? $75k-100k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 108 $24,050,000 $222,685 $0 0.00%

    The First National Bank Of Le Center lent most frequently to those with DTI ratios of Exempt%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 108 $24,050,000 $222,685 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.41%

    The First National Bank Of Le Center 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
    95.37%

    The First National Bank Of Le Center 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 108 $24,050,000 $222,685

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $75,000 $75,000
    Single Family (1-4 Units):Site-Built 107 $23,975,000 $224,065

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The First National Bank of Le Center 10 West Minnesota Street Le Center, MN 56057 Full Service B&M $114,683

    For 2020, The First National Bank Of Le Center had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,503
    Net interest income $3,684
    Total noninterest income $738
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $73
    Trading account gains and fees $0
    Additional Noninterest Income $665
    Pre-tax net operating income $1,685
    Securities gains (or losses, -) $-9
    Income before extraordinary items $1,675
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,675
    Minority interest net income $0
    Net income $1,675
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,684

    The First National Bank Of Le Center's gross interest income from loans was $4,503,000.
    The First National Bank Of Le Center's net interest income from loans was $3,684,000.
    The First National Bank Of Le Center's fee based income from loans was $73,000.
    The First National Bank Of Le Center's net income from loans was $1,675,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $819
    Provision for credit losses $0
    Total noninterest expense $2,737
    Salaries and employee benefits $1,932
    Premises and equipment expense $177
    Additional noninterest expense $628
    Applicable income taxes $1
    Net charge-offs $-41
    Cash dividends $1,000

    The First National Bank Of Le Center's interest expense for loans was $819,000.
    The First National Bank Of Le Center's payroll and benefits expense were $1,932,000.
    The First National Bank Of Le Center's property, plant and equipment expenses $177,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 4.0%
    Real Estate loans 4.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 0.0%
    Personal loans 4.0%
    Credit card loans 0.0%
    Other individual loans 4.0%
    Auto loans 0.0%
    Other consumer loans 10.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $132,680
    Deposits held in domestic offices $132,680
    Deposits by Individuals, partnerships, and corporations $118,233
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $14,447
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $49,184
    Demand deposits $26,589
    Nontransaction accounts $83,496
    Money market deposit accounts (MMDAs) $40,085
    Other savings deposits (excluding MMDAs) $13,928
    Total time deposits $29,484
    Total time and savings deposits $106,091
    Noninterest-bearing deposits $26,589
    Interest-bearing deposits $106,091
    Retail deposits $129,639
    IRAs and Keogh plan accounts $3,506
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $148,124
    Cash & Balances due from depository institutions $44,785
    Interest-bearing balances $41,655
    Total securities $16,945
    Federal funds sold & reverse repurchase $3,774
    Net loans and leases $76,217
    Loan and leases loss allowance $1,033
    Trading account assets $0
    Bank premises and fixed assets $1,865
    Other real estate owned $126
    Goodwill and other intangibles $0
    All other assets $4,412

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $148,124
    Total Liabilities $133,956
    Total deposits $132,680
    Interest-bearing deposits $106,091
    Deposits held in domestic offices $132,680
    % insured (estimated) $64
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $358
    Subordinated debt $0
    All other liabilities $918

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $76,217
    Loan and leases loss allowance $1,033
    Total loans and leases (domestic) $77,250
    All real estate loans $41,666
    Real estate loans in domestic offices $41,666
    Construction and development loans $3,698
    Residential 1-4 family construction $1,185
    Other construction, all land development and other land $2,513
    Loans secured by nonfarm nonresidential properties $8,188
    Nonfarm nonresidential secured by owner-occupied properties $4,719
    Commercial real estate & other non-farm, non-residential $3,469
    Multifamily residential real estate $126
    1-4 family residential loans $12,087
    Farmland loans $17,567
    Loans held in foreign offices $0
    Farm loans $18,995
    Commercial and industrial loans $11,131
    To non-U.S. addressees $0
    Loans to individuals $4,996
    Credit card loans $0
    Related Plans $120
    Consumer Auto Loans $2,987
    Other loans to individuals $1,889
    All other loans & leases $462
    Loans to foreign governments and official institutions $0
    Other loans $86
    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 $40
    Non 1-4 family restructured loans & leases $40
    Total loans and leases (foreign) $0

    The First National Bank of Le Center had $76,217,000 of loans outstanding in 2020. $41,666,000 of loans were in real estate loans. $3,698,000 of loans were in development loans. $126,000 of loans were in multifamily mortgage loans. $12,087,000 of loans were in 1-4 family mortgage loans. $18,995,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,987,000 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 41 $6,174 $150,585
    Nonfarm, nonresidential loans - <$100k 16 $776 $48,500
    Nonfarm, nonresidential loans - $100-250k 15 $1,895 $126,333
    Nonfarm, nonresidential loans - $250k-1MM 10 $3,503 $350,300
    Commercial & Industrial, US addressed loans - <$1MM 151 $4,946 $32,755
    Commercial & Industrial, US addressed loans - <$100k 137 $2,765 $20,182
    Commercial & Industrial, US addressed loans - $100-250k 11 $882 $80,182
    Commercial & Industrial, US addressed loans - $250k-1MM 3 $1,299 $433,000
    Farmland loans - <$1MM 56 $7,938 $141,750
    Farmland loans - <$100k 14 $632 $45,143
    Farmland loans - $100-250k 29 $3,344 $115,310
    Farmland loans - $250k-1MM 13 $3,962 $304,769
    Agriculture operations loans - <$1MM 173 $11,945 $69,046
    Agriculture operations loans - <$100k 118 $2,715 $23,008
    Agriculture operations loans - $100-250k 34 $3,493 $102,735
    Agriculture operations loans - $250k-1MM 21 $5,737 $273,190