Drake Bank Mortgage Rates, Fees & Info

Saint Paul, MN

LEI: 5493007GTTV61V305H74

Tax ID: 32-0011226

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Drake Bank is a smaller bank specializing in various types of mortgages.



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    Originations

    0

    Origination Dollar Volume (All Markets)

    $0

    Employee count

    32

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Drake Bank 60 Plato Boulevard, Suite 100 Saint Paul, MN 55107 Full Service B&M $149,433

    For 2021, Drake Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,059
    Net interest income $7,062
    Total noninterest income $211
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $106
    Trading account gains and fees $0
    Additional Noninterest Income $105
    Pre-tax net operating income $1,376
    Securities gains (or losses, -) $11
    Income before extraordinary items $1,387
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,387
    Minority interest net income $0
    Net income $1,387
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,376

    Drake Bank's gross interest income from loans was $8,059,000.
    Drake Bank's net interest income from loans was $7,062,000.
    Drake Bank's fee based income from loans was $106,000.
    Drake Bank's net income from loans was $1,387,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $997
    Provision for credit losses $185
    Total noninterest expense $5,712
    Salaries and employee benefits $3,672
    Premises and equipment expense $474
    Additional noninterest expense $1,566
    Applicable income taxes $0
    Net charge-offs $183
    Cash dividends $775

    Drake Bank's interest expense for loans was $997,000.
    Drake Bank's payroll and benefits expense were $3,672,000.
    Drake Bank's property, plant and equipment expenses $474,000.

    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 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 $163,288
    Deposits held in domestic offices $163,288
    Deposits by Individuals, partnerships, and corporations $151,934
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,650
    Deposits by Commercial banks and other depository institutions in U.S. $7,704
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $55,080
    Demand deposits $49,774
    Nontransaction accounts $108,208
    Money market deposit accounts (MMDAs) $64,776
    Other savings deposits (excluding MMDAs) $6,127
    Total time deposits $37,305
    Total time and savings deposits $113,514
    Noninterest-bearing deposits $49,943
    Interest-bearing deposits $113,345
    Retail deposits $135,290
    IRAs and Keogh plan accounts $1,286
    Brokered deposits $14,035
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $193,970
    Cash & Balances due from depository institutions $26,094
    Interest-bearing balances $24,379
    Total securities $38,702
    Federal funds sold & reverse repurchase $0
    Net loans and leases $127,318
    Loan and leases loss allowance $1,964
    Trading account assets $0
    Bank premises and fixed assets $621
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $1,235

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $193,970
    Total Liabilities $176,091
    Total deposits $163,288
    Interest-bearing deposits $113,345
    Deposits held in domestic offices $163,288
    % insured (estimated) $52
    Federal funds purchased and repurchase agreements $711
    Trading liabilities $0
    Other borrowed funds $11,800
    Subordinated debt $0
    All other liabilities $292

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $127,318
    Loan and leases loss allowance $1,964
    Total loans and leases (domestic) $129,282
    All real estate loans $74,915
    Real estate loans in domestic offices $74,915
    Construction and development loans $6,599
    Residential 1-4 family construction $2,602
    Other construction, all land development and other land $3,997
    Loans secured by nonfarm nonresidential properties $32,202
    Nonfarm nonresidential secured by owner-occupied properties $19,908
    Commercial real estate & other non-farm, non-residential $12,294
    Multifamily residential real estate $6,074
    1-4 family residential loans $30,018
    Farmland loans $22
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $53,216
    To non-U.S. addressees $0
    Loans to individuals $1,151
    Credit card loans $0
    Related Plans $559
    Consumer Auto Loans $73
    Other loans to individuals $519
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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

    Drake Bank had $127,318,000 of loans outstanding in 2021. $74,915,000 of loans were in real estate loans. $6,599,000 of loans were in development loans. $6,074,000 of loans were in multifamily mortgage loans. $30,018,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $73,000 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 64 $16,881 $263,766
    Nonfarm, nonresidential loans - <$100k 5 $207 $41,400
    Nonfarm, nonresidential loans - $100-250k 25 $3,880 $155,200
    Nonfarm, nonresidential loans - $250k-1MM 34 $12,794 $376,294
    Commercial & Industrial, US addressed loans - <$1MM 334 $38,744 $116,000
    Commercial & Industrial, US addressed loans - <$100k 168 $5,576 $33,190
    Commercial & Industrial, US addressed loans - $100-250k 102 $13,133 $128,755
    Commercial & Industrial, US addressed loans - $250k-1MM 64 $20,035 $313,047
    Farmland loans - <$1MM 1 $22 $22,000
    Farmland loans - $100-250k 1 $22 $22,000