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 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)

Similar Lenders

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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