Denali State Bank Mortgage Rates, Fees & Info

Fairbanks, AK

LEI: 5493003OSI5CD032EN89

Tax ID: 92-0111874

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

Review & Overview

Denali State Bank is a smaller bank specializing in Home Purchase and Refi loans. Denali State 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.) Their top two markets are Fairbanks and Anchorage .

Denali State 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.

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Originations

322

Origination Dollar Volume (All Markets)

$79,710,000

Employee count

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
FAIRBANKS, AK (FHA\|USDA\|VA)	295	$74,495,000	$252,525	$0	0.00%
Outside of Metro Areas	22	$4,150,000	$188,636	$0	0.00%
ANCHORAGE, AK (FHA\|USDA\|VA)	5	$1,065,000	$213,000	$0	0.00%

Denali State Bank's top markets include Fairbanks and Anchorage among others.

Their top states include:

Alaska (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	275	$64,905,000	$236,018	$0	0.00%
VA	36	$11,840,000	$328,889	$0	0.00%
FHA	11	$2,965,000	$269,545	$0	0.00%

For 2021, Denali State Bank's most frequently originated type of loan was Conventional, with 275 originations. Their 2nd most popular type was VA, with 36 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	180	$47,730,000	$265,167	$0	0.00%
Refi	83	$19,345,000	$233,072	$0	0.00%
Cash Out Refi	55	$11,905,000	$216,455	$0	0.00%
Home Improvement	4	$730,000	$182,500	$0	0.00%

For 2021, Denali State Bank's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Refi, with 83 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	322	$79,710,000	$247,547	$0	0.00%

For 2021, Denali State Bank's most frequently cited loan duration was Other, with 322 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	159	$44,695,000	$281,101	$0	0.00%
$100k-200k	114	$17,940,000	$157,368	$0	0.00%
$400k-600k	21	$10,295,000	$490,238	$0	0.00%
$100,000 or less	20	$1,500,000	$75,000	$0	0.00%
$600k-1MM	8	$5,280,000	$660,000	$0	0.00%

2021 saw Denali State Bank place emphasis on $200k-400k loans with 159 originations, totaling $44,695,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	90	$22,660,000	$251,778	$0	0.00%
$50k-75k	68	$14,630,000	$215,147	$0	0.00%
$75k-100k	56	$13,900,000	$248,214	$0	0.00%
$150k-250k	39	$11,175,000	$286,538	$0	0.00%
$50k or less	34	$5,590,000	$164,412	$0	0.00%
$250k+	21	$8,635,000	$411,190	$0	0.00%

Denali State Bank lent most frequently to those with incomes in the $100k-150k range, with 90 originations. The second most popular income band? $50k-75k, with 68 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	322	$79,710,000	$247,547	$0	0.00%

Denali State Bank lent most frequently to those with DTI ratios of Exempt%, with 322 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	212	$52,710,000	$248,632	$0	0.00%
Not provided	79	$20,035,000	$253,608	$0	0.00%
Asian	11	$2,495,000	$226,818	$0	0.00%
American Indian	9	$2,145,000	$238,333	$0	0.00%
Not applicable	8	$1,730,000	$216,250	$0	0.00%
Black	3	$595,000	$198,333	$0	0.00%

Approval Rates

Total approvals of all applications
96.81%

Denali State 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
59.32%

Denali State Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	322	$79,710,000	$247,547

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	322	$79,710,000	$247,547

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
Daniels Norelli Scully & Cecere, P.C.	Other type of mortgage	Closing on a mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Denali State Bank	119 North Cushman Street Fairbanks, AK 99701	Full Service B&M	$258,151
Denali State Bank	1989 Airport Way Fairbanks, AK 99701	Full Service B&M	$68,979
Denali State Bank	470 Chena Pump Road Fairbanks, AK 99709	Full Service B&M	$41,762
Denali State Bank	975 Van Horn Road Fairbanks, AK 99707	Full Service B&M	$13,764
Denali State Bank	Mile 1314 Alaska Highway Tok, AK 99780	Full Service B&M	$24,904

For 2021, Denali State Bank had 5 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$17,754
Net interest income	$17,319
Total noninterest income	$3,989
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$365
Trading account gains and fees	$0
Additional Noninterest Income	$3,624
Pre-tax net operating income	$6,314
Securities gains (or losses, -)	$1
Income before extraordinary items	$4,893
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,893
Minority interest net income	$0
Net income	$4,893
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,892

Denali State Bank's gross interest income from loans was $17,754,000.
Denali State Bank's net interest income from loans was $17,319,000.
Denali State Bank's fee based income from loans was $365,000.
Denali State Bank's net income from loans was $4,893,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$435
Provision for credit losses	$990
Total noninterest expense	$14,004
Salaries and employee benefits	$9,345
Premises and equipment expense	$1,258
Additional noninterest expense	$3,401
Applicable income taxes	$1,422
Net charge-offs	$116
Cash dividends	$2,066

Denali State Bank's interest expense for loans was $435,000.
Denali State Bank's payroll and benefits expense were $9,345,000.
Denali State Bank's property, plant and equipment expenses $1,258,000.

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	$424,883
Deposits held in domestic offices	$424,883
Deposits by Individuals, partnerships, and corporations	$373,130
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$51,505
Deposits by Commercial banks and other depository institutions in U.S.	$248
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$39,081
Demand deposits	$27,103
Nontransaction accounts	$385,802
Money market deposit accounts (MMDAs)	$71,135
Other savings deposits (excluding MMDAs)	$287,392
Total time deposits	$27,275
Total time and savings deposits	$397,780
Noninterest-bearing deposits	$186,921
Interest-bearing deposits	$237,962
Retail deposits	$415,495
IRAs and Keogh plan accounts	$7,411
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$470,847
Cash & Balances due from depository institutions	$31,191
Interest-bearing balances	$28,312
Total securities	$140,288
Federal funds sold & reverse repurchase	$0
Net loans and leases	$273,240
Loan and leases loss allowance	$5,225
Trading account assets	$9,647
Bank premises and fixed assets	$5,231
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$11,250

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$470,847
Total Liabilities	$428,071
Total deposits	$424,883
Interest-bearing deposits	$237,962
Deposits held in domestic offices	$424,883
% insured (estimated)	$63
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$367
Subordinated debt	$0
All other liabilities	$2,821

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$273,240
Loan and leases loss allowance	$5,225
Total loans and leases (domestic)	$278,465
All real estate loans	$126,060
Real estate loans in domestic offices	$126,060
Construction and development loans	$14,409
Residential 1-4 family construction	$5,310
Other construction, all land development and other land	$9,099
Loans secured by nonfarm nonresidential properties	$71,884
Nonfarm nonresidential secured by owner-occupied properties	$46,003
Commercial real estate & other non-farm, non-residential	$25,881
Multifamily residential real estate	$3,715
1-4 family residential loans	$36,052
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$114,929
To non-U.S. addressees	$0
Loans to individuals	$37,877
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$33,382
Other loans to individuals	$4,495
All other loans & leases	$17
Loans to foreign governments and official institutions	$0
Other loans	$17
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$258
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$303
Non 1-4 family restructured loans & leases	$57
Total loans and leases (foreign)	$0

Denali State Bank had $273,240,000 of loans outstanding in 2021. $126,060,000 of loans were in real estate loans. $14,409,000 of loans were in development loans. $3,715,000 of loans were in multifamily mortgage loans. $36,052,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $33,382,000 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	95	$20,301	$213,695
Nonfarm, nonresidential loans - <$100k	7	$319	$45,571
Nonfarm, nonresidential loans - $100-250k	40	$4,840	$121,000
Nonfarm, nonresidential loans - $250k-1MM	48	$15,142	$315,458
Commercial & Industrial, US addressed loans - <$1MM	171	$20,590	$120,409
Commercial & Industrial, US addressed loans - <$100k	89	$2,662	$29,910
Commercial & Industrial, US addressed loans - $100-250k	37	$3,587	$96,946
Commercial & Industrial, US addressed loans - $250k-1MM	45	$14,341	$318,689