Northstar Bank Mortgage Rates, Fees & Info

Bad Axe, MI

LEI: 5493008S6MTNE6CY5G37

Tax ID: 38-3576013

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

Review & Overview

Northstar Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Northstar Bank has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Kapaa, Bay City, and Lansing among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Northstar Bank has an average approval rate when compared to the average across all lenders. They have an 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.

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Originations

197

Origination Dollar Volume (All Markets)

$37,115,000

Employee count

145

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
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	65	$15,125,000	$232,692	$0	0.00%
Outside of Metro Areas	113	$12,705,000	$112,434	$0	0.00%
ANN ARBOR, MI (FHA\|USDA\|VA)	14	$5,200,000	$371,429	$0	0.00%
Kapaa, HI (FHA\|USDA\|VA)	1	$3,205,000	$3,205,000	$0	0.00%
BAY CITY, MI (FHA\|USDA\|VA)	1	$325,000	$325,000	$0	0.00%
LANSING-EAST LANSING, MI (FHA\|USDA\|VA)	1	$205,000	$205,000	$0	0.00%
Cadillac, MI (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	0.00%
FLINT, MI (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	0.00%

Northstar Bank's top markets include Detroit, Ann Arbor, Kapaa, Bay City, and Lansing among others.

Their top states include:

Michigan (FHA|USDA|VA)

Hawaii (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Northstar Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

BIRMINGHAM-BLOOMFIELD Credit Union
Similarity Rank: 159

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ADVANTAGE ONE Credit Union
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NEW ENGLAND FEDERAL CREDIT UNION
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Extra
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UNIVERSITY OF MICHIGAN CREDIT UNION
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COMMUNITY FINANCIAL CREDIT UNION
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	197	$37,115,000	$188,401	$0	0.00%

For 2019, Northstar Bank's most frequently originated type of loan was Conventional, with 197 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	95	$18,645,000	$196,263	$0	0.00%
Refi	49	$7,845,000	$160,102	$0	0.00%
Cash Out Refi	40	$7,580,000	$189,500	$0	0.00%
Home Improvement	8	$2,660,000	$332,500	$0	0.00%
Other	5	$385,000	$77,000	$0	0.00%

For 2019, Northstar Bank's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Refi, with 49 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	197	$37,115,000	$188,401	$0	0.00%

For 2019, Northstar Bank's most frequently cited loan duration was Other, with 197 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	76	$4,970,000	$65,395	$0	0.00%
$100k-200k	67	$9,365,000	$139,776	$0	0.00%
$200k-400k	45	$12,255,000	$272,333	$0	0.00%
$400k-600k	5	$2,255,000	$451,000	$0	0.00%
$1MM+	4	$8,270,000	$2,067,500	$0	0.00%

2019 saw Northstar Bank place emphasis on $100,000 or less loans with 76 originations, totaling $4,970,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	50	$4,370,000	$87,400	$0	0.00%
$50k-75k	42	$4,980,000	$118,571	$0	0.00%
$100k-150k	29	$5,395,000	$186,034	$0	0.00%
$75k-100k	29	$4,145,000	$142,931	$0	0.00%
$150k-250k	22	$5,700,000	$259,091	$0	0.00%
$250k+	10	$3,500,000	$350,000	$0	0.00%

Northstar Bank lent most frequently to those with incomes in the $50k or less range, with 50 originations. The second most popular income band? $50k-75k, with 42 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	197	$37,115,000	$188,401	$0	0.00%

Northstar Bank lent most frequently to those with DTI ratios of Exempt%, with 197 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	180	$26,810,000	$148,944	$0	0.00%
Not applicable	13	$8,855,000	$681,154	$0	0.00%
Asian Indian	2	$790,000	$395,000	$0	0.00%
Not provided	2	$660,000	$330,000	$0	0.00%

Approval Rates

Total approvals of all applications
89.88%

Northstar Bank has an average approval rate.

Pick Rate

Approvals leading to origination
92.39%

Northstar Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	197	$37,115,000	$188,401

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	9	$5,855,000	$650,556
Single Family (1-4 Units):Manufactured	6	$710,000	$118,333
Single Family (1-4 Units):Site-Built	182	$30,550,000	$167,857

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
NORTHWEST BANCSHARES INC	Other type of mortgage	Trouble during payment process	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Northstar Bank	1100 East Caro Road Caro, MI 48723	Full Service B&M	$72,734
Northstar Bank	1960 Fred W Moore Highway Saint Clair, MI 48079	Full Service B&M	$99,590
Northstar Bank	2800 South State Street Ann Arbor, MI 48103	Full Service B&M	$69,858
Northstar Bank	3559 Main Street Akron, MI 48701	Full Service B&M	$19,067
Northstar Bank	4495 Garfield St Ubly, MI 48475	Full Service B&M	$18,013
Northstar Bank	503 Andrew Murphy Ave Port Huron, MI 48060	Full Service B&M	$29,000
Northstar Bank	665 S. Sandusky Road, Suite 3 Sandusky, MI 48471	Full Service B&M	$6,453
Northstar Bank	66550 Gratiot Lenox, MI 48050	Full Service B&M	$28,011
Northstar Bank	7611 West Pigeon Road Pigeon, MI 48755	Full Service B&M	$18,373
Northstar Bank	833 South Van Dyke Bad Axe, MI 48413	Full Service B&M	$138,735
Northstar Bank	900 Point Tremble Road Algonac, MI 48001	Full Service B&M	$51,093

For 2019, Northstar Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$30,171
Net interest income	$26,401
Total noninterest income	$4,353
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,176
Trading account gains and fees	$0
Additional Noninterest Income	$3,177
Pre-tax net operating income	$10,679
Securities gains (or losses, -)	$10
Income before extraordinary items	$9,706
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$9,706
Minority interest net income	$0
Net income	$9,706
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$9,696

Northstar Bank's gross interest income from loans was $30,171,000.
Northstar Bank's net interest income from loans was $26,401,000.
Northstar Bank's fee based income from loans was $1,176,000.
Northstar Bank's net income from loans was $9,706,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,770
Provision for credit losses	$0
Total noninterest expense	$20,075
Salaries and employee benefits	$11,153
Premises and equipment expense	$2,170
Additional noninterest expense	$6,752
Applicable income taxes	$983
Net charge-offs	$-98
Cash dividends	$8,536

Northstar Bank's interest expense for loans was $3,770,000.
Northstar Bank's payroll and benefits expense were $11,153,000.
Northstar Bank's property, plant and equipment expenses $2,170,000.

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	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	$571,619
Deposits held in domestic offices	$571,619
Deposits by Individuals, partnerships, and corporations	$417,526
Deposits by U.S. Government	$115
Deposits by States and political subdivisions in the U.S.	$151,756
Deposits by Commercial banks and other depository institutions in U.S.	$2,221
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$55,030
Demand deposits	$37,161
Nontransaction accounts	$516,588
Money market deposit accounts (MMDAs)	$115,467
Other savings deposits (excluding MMDAs)	$288,297
Total time deposits	$112,824
Total time and savings deposits	$534,457
Noninterest-bearing deposits	$157,055
Interest-bearing deposits	$414,564
Retail deposits	$525,583
IRAs and Keogh plan accounts	$8,133
Brokered deposits	$8,891
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$650,192
Cash & Balances due from depository institutions	$50,858
Interest-bearing balances	$41,853
Total securities	$56,049
Federal funds sold & reverse repurchase	$8,000
Net loans and leases	$502,456
Loan and leases loss allowance	$8,147
Trading account assets	$1,068
Bank premises and fixed assets	$11,309
Other real estate owned	$0
Goodwill and other intangibles	$3,668
All other assets	$16,784

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$650,192
Total Liabilities	$585,749
Total deposits	$571,619
Interest-bearing deposits	$414,564
Deposits held in domestic offices	$571,619
% insured (estimated)	$70
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$1,068
Other borrowed funds	$10,500
Subordinated debt	$0
All other liabilities	$2,562

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$502,456
Loan and leases loss allowance	$8,147
Total loans and leases (domestic)	$510,603
All real estate loans	$416,642
Real estate loans in domestic offices	$416,642
Construction and development loans	$23,011
Residential 1-4 family construction	$2,767
Other construction, all land development and other land	$20,244
Loans secured by nonfarm nonresidential properties	$214,955
Nonfarm nonresidential secured by owner-occupied properties	$98,053
Commercial real estate & other non-farm, non-residential	$116,902
Multifamily residential real estate	$26,030
1-4 family residential loans	$77,290
Farmland loans	$75,356
Loans held in foreign offices	$0
Farm loans	$10,872
Commercial and industrial loans	$71,763
To non-U.S. addressees	$0
Loans to individuals	$10,754
Credit card loans	$0
Related Plans	$60
Consumer Auto Loans	$6,167
Other loans to individuals	$4,527
All other loans & leases	$572
Loans to foreign governments and official institutions	$0
Other loans	$161
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$391
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$6,750
Non 1-4 family restructured loans & leases	$4,267
Total loans and leases (foreign)	$0

Northstar Bank had $502,456,000 of loans outstanding in 2019. $416,642,000 of loans were in real estate loans. $23,011,000 of loans were in development loans. $26,030,000 of loans were in multifamily mortgage loans. $77,290,000 of loans were in 1-4 family mortgage loans. $10,872,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,167,000 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	350	$74,424	$212,640
Nonfarm, nonresidential loans - <$100k	91	$3,521	$38,692
Nonfarm, nonresidential loans - $100-250k	108	$12,667	$117,287
Nonfarm, nonresidential loans - $250k-1MM	151	$58,236	$385,669
Commercial & Industrial, US addressed loans - <$1MM	290	$20,581	$70,969
Commercial & Industrial, US addressed loans - <$100k	179	$3,750	$20,950
Commercial & Industrial, US addressed loans - $100-250k	66	$6,198	$93,909
Commercial & Industrial, US addressed loans - $250k-1MM	45	$10,633	$236,289
Farmland loans - <$1MM	185	$22,963	$124,124
Farmland loans - <$100k	57	$2,120	$37,193
Farmland loans - $100-250k	79	$9,496	$120,203
Farmland loans - $250k-1MM	49	$11,347	$231,571
Agriculture operations loans - <$1MM	110	$5,811	$52,827
Agriculture operations loans - <$100k	80	$2,022	$25,275
Agriculture operations loans - $100-250k	22	$2,288	$104,000
Agriculture operations loans - $250k-1MM	8	$1,501	$187,625