Northstar Bank Mortgage Rates, Fees & Info

Bad Axe, MI

LEI: 5493008S6MTNE6CY5G37

Tax ID: 38-3576013

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Mortgage Data

Bank Data

Review & Overview

Northstar Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Northstar Bank has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Bay City, Grand Rapids, and Saginaw among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Northstar Bank 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.

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Originations

351

Origination Dollar Volume (All Markets)

$64,305,000

Employee count

152

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) 154 $29,270,000 $190,065 $0 0.00%
Outside of Metro Areas 170 $22,770,000 $133,941 $0 0.00%
ANN ARBOR, MI (FHA|USDA|VA) 12 $9,310,000 $775,833 $0 0.00%
BAY CITY, MI (FHA|USDA|VA) 4 $880,000 $220,000 $0 0.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $640,000 $320,000 $0 0.00%
SAGINAW, MI (FHA|USDA|VA) 3 $505,000 $168,333 $0 0.00%
FLINT, MI (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 3 $365,000 $121,667 $0 0.00%
Alpena, MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Traverse City, MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Northstar Bank's top markets include Detroit, Ann Arbor, Bay City, Grand Rapids, and Saginaw among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 351 $64,305,000 $183,205 $0 0.00%

    For 2020, Northstar Bank's most frequently originated type of loan was Conventional, with 351 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 162 $27,300,000 $168,519 $0 0.00%
    Home Purchase 99 $15,615,000 $157,727 $0 0.00%
    Cash Out Refi 80 $19,440,000 $243,000 $0 0.00%
    Other 6 $1,090,000 $181,667 $0 0.00%
    Home Improvement 4 $860,000 $215,000 $0 0.00%

    For 2020, Northstar Bank's most frequently cited loan purpose was Refi, with 162 originations. The 2nd most popular reason was Home Purchase, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 351 $64,305,000 $183,205 $0 0.00%

    For 2020, Northstar Bank's most frequently cited loan duration was Other, with 351 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 147 $20,885,000 $142,075 $0 0.00%
    $100,000 or less 97 $6,415,000 $66,134 $0 0.00%
    $200k-400k 90 $23,980,000 $266,444 $0 0.00%
    $400k-600k 10 $4,540,000 $454,000 $0 0.00%
    $600k-1MM 5 $3,705,000 $741,000 $0 0.00%
    $1MM+ 2 $4,780,000 $2,390,000 $0 0.00%

    2020 saw Northstar Bank place emphasis on $100k-200k loans with 147 originations, totaling $20,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 80 $9,910,000 $123,875 $0 0.00%
    $50k or less 71 $6,655,000 $93,732 $0 0.00%
    $100k-150k 67 $14,705,000 $219,478 $0 0.00%
    $75k-100k 60 $10,170,000 $169,500 $0 0.00%
    $150k-250k 28 $6,840,000 $244,286 $0 0.00%
    $250k+ 9 $2,655,000 $295,000 $0 0.00%

    Northstar Bank lent most frequently to those with incomes in the $50k-75k range, with 80 originations. The second most popular income band? $50k or less, with 71 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 351 $64,305,000 $183,205 $0 0.00%

    Northstar Bank lent most frequently to those with DTI ratios of Exempt%, with 351 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 328 $52,410,000 $159,787 $0 0.00%
    Not applicable 17 $11,095,000 $652,647 $0 0.00%
    Not provided 4 $480,000 $120,000 $0 0.00%
    Black 2 $320,000 $160,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.07%

    Northstar Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.59%

    Northstar Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 351 $64,305,000 $183,205

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $9,940,000 $828,333
    Single Family (1-4 Units):Manufactured 7 $585,000 $83,571
    Single Family (1-4 Units):Site-Built 332 $53,780,000 $161,988

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Northstar Bank 1100 East Caro Road Caro, MI 48723 Full Service B&M $80,697
    Northstar Bank 1960 Fred W Moore Highway Saint Clair, MI 48079 Full Service B&M $129,950
    Northstar Bank 2800 South State Street Ann Arbor, MI 48103 Full Service B&M $96,908
    Northstar Bank 3559 Main Street Akron, MI 48701 Full Service B&M $22,067
    Northstar Bank 4495 Garfield St Ubly, MI 48475 Full Service B&M $13,519
    Northstar Bank 503 Andrew Murphy Ave Port Huron, MI 48060 Full Service B&M $40,858
    Northstar Bank 665 S. Sandusky Road, Suite 3 Sandusky, MI 48471 Full Service B&M $8,684
    Northstar Bank 66550 Gratiot Lenox, MI 48050 Full Service B&M $36,863
    Northstar Bank 7611 West Pigeon Road Pigeon, MI 48755 Full Service B&M $19,461
    Northstar Bank 833 South Van Dyke Bad Axe, MI 48413 Full Service B&M $157,094
    Northstar Bank 900 Point Tremble Road Algonac, MI 48001 Full Service B&M $56,969

    For 2020, Northstar Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,711
    Net interest income $24,301
    Total noninterest income $5,972
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $920
    Trading account gains and fees $0
    Additional Noninterest Income $5,052
    Pre-tax net operating income $7,542
    Securities gains (or losses, -) $26
    Income before extraordinary items $6,071
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,071
    Minority interest net income $0
    Net income $6,071
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,050

    Northstar Bank's gross interest income from loans was $26,711,000.
    Northstar Bank's net interest income from loans was $24,301,000.
    Northstar Bank's fee based income from loans was $920,000.
    Northstar Bank's net income from loans was $6,071,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,410
    Provision for credit losses $2,091
    Total noninterest expense $20,640
    Salaries and employee benefits $11,970
    Premises and equipment expense $2,078
    Additional noninterest expense $6,592
    Applicable income taxes $1,497
    Net charge-offs $201
    Cash dividends $1,413

    Northstar Bank's interest expense for loans was $2,410,000.
    Northstar Bank's payroll and benefits expense were $11,970,000.
    Northstar Bank's property, plant and equipment expenses $2,078,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    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 $727,035
    Deposits held in domestic offices $727,035
    Deposits by Individuals, partnerships, and corporations $548,908
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $176,629
    Deposits by Commercial banks and other depository institutions in U.S. $1,498
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $73,832
    Demand deposits $55,616
    Nontransaction accounts $653,203
    Money market deposit accounts (MMDAs) $181,421
    Other savings deposits (excluding MMDAs) $365,677
    Total time deposits $106,106
    Total time and savings deposits $671,419
    Noninterest-bearing deposits $222,054
    Interest-bearing deposits $504,981
    Retail deposits $677,518
    IRAs and Keogh plan accounts $7,539
    Brokered deposits $18,116
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $802,017
    Cash & Balances due from depository institutions $114,981
    Interest-bearing balances $98,959
    Total securities $50,392
    Federal funds sold & reverse repurchase $0
    Net loans and leases $592,954
    Loan and leases loss allowance $10,037
    Trading account assets $2,448
    Bank premises and fixed assets $14,127
    Other real estate owned $111
    Goodwill and other intangibles $3,668
    All other assets $23,336

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $802,017
    Total Liabilities $732,257
    Total deposits $727,035
    Interest-bearing deposits $504,981
    Deposits held in domestic offices $727,035
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $2,448
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,774

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $592,954
    Loan and leases loss allowance $10,037
    Total loans and leases (domestic) $602,991
    All real estate loans $432,645
    Real estate loans in domestic offices $432,645
    Construction and development loans $29,591
    Residential 1-4 family construction $3,243
    Other construction, all land development and other land $26,348
    Loans secured by nonfarm nonresidential properties $235,706
    Nonfarm nonresidential secured by owner-occupied properties $112,441
    Commercial real estate & other non-farm, non-residential $123,265
    Multifamily residential real estate $27,195
    1-4 family residential loans $82,743
    Farmland loans $57,410
    Loans held in foreign offices $0
    Farm loans $10,858
    Commercial and industrial loans $145,414
    To non-U.S. addressees $0
    Loans to individuals $11,586
    Credit card loans $0
    Related Plans $50
    Consumer Auto Loans $6,977
    Other loans to individuals $4,559
    All other loans & leases $2,488
    Loans to foreign governments and official institutions $0
    Other loans $118
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $546
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $9,790
    Non 1-4 family restructured loans & leases $7,309
    Total loans and leases (foreign) $0

    Northstar Bank had $592,954,000 of loans outstanding in 2020. $432,645,000 of loans were in real estate loans. $29,591,000 of loans were in development loans. $27,195,000 of loans were in multifamily mortgage loans. $82,743,000 of loans were in 1-4 family mortgage loans. $10,858,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,977,000 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 331 $72,384 $218,683
    Nonfarm, nonresidential loans - <$100k 78 $3,052 $39,128
    Nonfarm, nonresidential loans - $100-250k 99 $11,491 $116,071
    Nonfarm, nonresidential loans - $250k-1MM 154 $57,841 $375,591
    Commercial & Industrial, US addressed loans - <$1MM 577 $52,151 $90,383
    Commercial & Industrial, US addressed loans - <$100k 395 $11,018 $27,894
    Commercial & Industrial, US addressed loans - $100-250k 94 $10,308 $109,660
    Commercial & Industrial, US addressed loans - $250k-1MM 88 $30,825 $350,284
    Farmland loans - <$1MM 160 $18,275 $114,219
    Farmland loans - <$100k 46 $1,823 $39,630
    Farmland loans - $100-250k 72 $8,280 $115,000
    Farmland loans - $250k-1MM 42 $8,172 $194,571
    Agriculture operations loans - <$1MM 97 $4,700 $48,454
    Agriculture operations loans - <$100k 68 $1,561 $22,956
    Agriculture operations loans - $100-250k 21 $1,888 $89,905
    Agriculture operations loans - $250k-1MM 8 $1,251 $156,375