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 and Refi loans. Northstar Bank has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Ann Arbor, Flint, Saginaw, and Bay City 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 above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

211

Origination Dollar Volume (All Markets)

$41,865,000

Employee count

148

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)	83	$17,525,000	$211,145	$0	0.00%
ANN ARBOR, MI (FHA\|USDA\|VA)	18	$11,710,000	$650,556	$0	0.00%
Outside of Metro Areas	102	$11,560,000	$113,333	$0	0.00%
FLINT, MI (FHA\|USDA\|VA)	2	$320,000	$160,000	$0	0.00%
SAGINAW, MI (FHA\|USDA\|VA)	2	$300,000	$150,000	$0	0.00%
BAY CITY, MI (FHA\|USDA\|VA)	2	$220,000	$110,000	$0	0.00%
JACKSON, MI (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	0.00%
Traverse City, MI (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	0.00%

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

Their top states include:

Michigan (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.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	211	$41,865,000	$198,412	$0	0.00%

For 2021, Northstar Bank's most frequently originated type of loan was Conventional, with 211 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	92	$22,490,000	$244,457	$0	0.00%
Refi	69	$11,345,000	$164,420	$0	0.00%
Cash Out Refi	36	$5,900,000	$163,889	$0	0.00%
Home Improvement	12	$1,770,000	$147,500	$0	0.00%
Other	2	$360,000	$180,000	$0	0.00%

For 2021, Northstar Bank's most frequently cited loan purpose was Home Purchase, with 92 originations. The 2nd most popular reason was Refi, with 69 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	211	$41,865,000	$198,412	$0	0.00%

For 2021, Northstar Bank's most frequently cited loan duration was Other, with 211 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	79	$10,775,000	$136,392	$0	0.00%
$100,000 or less	73	$4,925,000	$67,466	$0	0.00%
$200k-400k	42	$10,850,000	$258,333	$0	0.00%
$400k-600k	10	$4,830,000	$483,000	$0	0.00%
$1MM+	5	$8,975,000	$1,795,000	$0	0.00%
$600k-1MM	2	$1,510,000	$755,000	$0	0.00%

2021 saw Northstar Bank place emphasis on $100k-200k loans with 79 originations, totaling $10,775,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	54	$4,890,000	$90,556	$0	0.00%
$50k-75k	43	$4,975,000	$115,698	$0	0.00%
$100k-150k	33	$6,835,000	$207,121	$0	0.00%
$75k-100k	29	$4,835,000	$166,724	$0	0.00%
$150k-250k	14	$2,980,000	$212,857	$0	0.00%
$250k+	10	$2,490,000	$249,000	$0	0.00%

Northstar Bank lent most frequently to those with incomes in the $50k or less range, with 54 originations. The second most popular income band? $50k-75k, with 43 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	211	$41,865,000	$198,412	$0	0.00%

Northstar Bank lent most frequently to those with DTI ratios of Exempt%, with 211 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	188	$28,340,000	$150,745	$0	0.00%
Not applicable	22	$12,670,000	$575,909	$0	0.00%
Not provided	1	$855,000	$855,000	$0	0.00%

Approval Rates

Total approvals of all applications
90.87%

Northstar Bank has an average approval rate.

Pick Rate

Approvals leading to origination
90.52%

Northstar Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	211	$41,865,000	$198,412

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	211	$41,865,000	$198,412

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
NORTHSTAR FUNDING INC	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Northstar Bank	4495 Garfield St Ubly, MI 48475	Full Service B&M	$22,342
Northstar Bank	1100 East Caro Road Caro, MI 48723	Full Service B&M	$98,393
Northstar Bank	1960 Fred W Moore Highway Saint Clair, MI 48079	Full Service B&M	$160,732
Northstar Bank	2800 South State Street Ann Arbor, MI 48103	Full Service B&M	$111,574
Northstar Bank	3559 Main Street Akron, MI 48701	Full Service B&M	$23,503
Northstar Bank	503 Andrew Murphy Ave Port Huron, MI 48060	Full Service B&M	$55,129
Northstar Bank	66550 Gratiot Lenox, MI 48050	Full Service B&M	$41,356
Northstar Bank	7611 West Pigeon Road Pigeon, MI 48755	Full Service B&M	$19,612
Northstar Bank	833 South Van Dyke Bad Axe, MI 48413	Full Service B&M	$184,979
Northstar Bank	900 Point Tremble Road Algonac, MI 48001	Full Service B&M	$63,052

For 2021, Northstar Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$26,668
Net interest income	$25,567
Total noninterest income	$5,165
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$982
Trading account gains and fees	$0
Additional Noninterest Income	$4,183
Pre-tax net operating income	$11,251
Securities gains (or losses, -)	$-58
Income before extraordinary items	$8,965
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$8,965
Minority interest net income	$0
Net income	$8,965
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$9,011

Northstar Bank's gross interest income from loans was $26,668,000.
Northstar Bank's net interest income from loans was $25,567,000.
Northstar Bank's fee based income from loans was $982,000.
Northstar Bank's net income from loans was $8,965,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,101
Provision for credit losses	$-950
Total noninterest expense	$20,431
Salaries and employee benefits	$11,669
Premises and equipment expense	$1,987
Additional noninterest expense	$6,775
Applicable income taxes	$2,228
Net charge-offs	$-195
Cash dividends	$1,352

Northstar Bank's interest expense for loans was $1,101,000.
Northstar Bank's payroll and benefits expense were $11,669,000.
Northstar Bank's property, plant and equipment expenses $1,987,000.

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	$832,944
Deposits held in domestic offices	$832,944
Deposits by Individuals, partnerships, and corporations	$596,272
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$234,915
Deposits by Commercial banks and other depository institutions in U.S.	$1,756
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$418,072
Demand deposits	$240,538
Nontransaction accounts	$414,871
Money market deposit accounts (MMDAs)	$237,191
Other savings deposits (excluding MMDAs)	$97,665
Total time deposits	$80,017
Total time and savings deposits	$592,405
Noninterest-bearing deposits	$240,539
Interest-bearing deposits	$592,405
Retail deposits	$798,134
IRAs and Keogh plan accounts	$7,218
Brokered deposits	$13,038
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$913,384
Cash & Balances due from depository institutions	$155,924
Interest-bearing balances	$142,904
Total securities	$86,540
Federal funds sold & reverse repurchase	$0
Net loans and leases	$629,260
Loan and leases loss allowance	$9,282
Trading account assets	$849
Bank premises and fixed assets	$10,178
Other real estate owned	$3,612
Goodwill and other intangibles	$3,668
All other assets	$23,353

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$913,384
Total Liabilities	$837,059
Total deposits	$832,944
Interest-bearing deposits	$592,405
Deposits held in domestic offices	$832,944
% insured (estimated)	$65
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$849
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,266

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$629,260
Loan and leases loss allowance	$9,282
Total loans and leases (domestic)	$638,542
All real estate loans	$480,555
Real estate loans in domestic offices	$480,555
Construction and development loans	$48,816
Residential 1-4 family construction	$2,552
Other construction, all land development and other land	$46,264
Loans secured by nonfarm nonresidential properties	$244,810
Nonfarm nonresidential secured by owner-occupied properties	$107,709
Commercial real estate & other non-farm, non-residential	$137,101
Multifamily residential real estate	$33,336
1-4 family residential loans	$102,152
Farmland loans	$51,441
Loans held in foreign offices	$0
Farm loans	$14,691
Commercial and industrial loans	$129,213
To non-U.S. addressees	$0
Loans to individuals	$10,783
Credit card loans	$0
Related Plans	$46
Consumer Auto Loans	$6,667
Other loans to individuals	$4,070
All other loans & leases	$3,300
Loans to foreign governments and official institutions	$0
Other loans	$67
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$833
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$10,702
Non 1-4 family restructured loans & leases	$8,518
Total loans and leases (foreign)	$0

Northstar Bank had $629,260,000 of loans outstanding in 2021. $480,555,000 of loans were in real estate loans. $48,816,000 of loans were in development loans. $33,336,000 of loans were in multifamily mortgage loans. $102,152,000 of loans were in 1-4 family mortgage loans. $14,691,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,667,000 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	312	$66,547	$213,292
Nonfarm, nonresidential loans - <$100k	76	$2,883	$37,934
Nonfarm, nonresidential loans - $100-250k	86	$9,598	$111,605
Nonfarm, nonresidential loans - $250k-1MM	150	$54,066	$360,440
Commercial & Industrial, US addressed loans - <$1MM	271	$22,242	$82,074
Commercial & Industrial, US addressed loans - <$100k	157	$3,378	$21,516
Commercial & Industrial, US addressed loans - $100-250k	53	$4,926	$92,943
Commercial & Industrial, US addressed loans - $250k-1MM	61	$13,938	$228,492
Farmland loans - <$1MM	154	$18,033	$117,097
Farmland loans - <$100k	45	$1,702	$37,822
Farmland loans - $100-250k	66	$7,742	$117,303
Farmland loans - $250k-1MM	43	$8,589	$199,744
Agriculture operations loans - <$1MM	101	$5,267	$52,149
Agriculture operations loans - <$100k	65	$1,362	$20,954
Agriculture operations loans - $100-250k	26	$2,191	$84,269
Agriculture operations loans - $250k-1MM	10	$1,714	$171,400