First State Bank And Trust Mortgage Rates, Fees & Info

Bayport, MN

LEI: 549300AO417FCNJGKM49

Tax ID: 41-0257270

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

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Mortgage Data

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

    First State Bank And Trust is a smaller bank specializing in Home Purchase loans. First State Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Dallas, Denver, Menomonie, and Port St. Lucie among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First State Bank And Trust has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First State Bank And Trust is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    64

    Origination Dollar Volume (All Markets)

    $20,520,000

    Employee count

    70

    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 53 $17,045,000 $321,604 $4,477 4.79%
    Outside of Metro Areas 5 $1,645,000 $329,000 $3,775 4.37%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $695,000 $695,000 $9,805 4.50%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $485,000 $485,000 $4,837 4.25%
    Menomonie, WI (FHA|USDA|VA) 2 $340,000 $170,000 $2,821 4.81%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,727 4.33%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.25%
    First State Bank And Trust's top markets include Minneapolis, Dallas, Denver, Menomonie, and Port St. Lucie among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

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

    Cornerstone State Bank
    Similarity Rank: 408
    MEMBERS COOPERATIVE
    Similarity Rank: 630
    WESTconsin Credit Union
    Similarity Rank: 795
    SHAREPOINT CREDIT UNION
    Similarity Rank: 816
    South Metro Federal Credit Union
    Similarity Rank: 882
    First National Bank of Elk River
    Similarity Rank: 984
    Liberty Bank Minnesota
    Similarity Rank: 1080
    ST. CLOUD FINANCIAL
    Similarity Rank: 1150
    First State Bank and Trust
    Similarity Rank: 1162
    St. Paul Federal Credit Union
    Similarity Rank: 1197

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 64 $20,520,000 $320,625 $4,493 4.74%

    For 2018, First State Bank And Trust's most frequently originated type of loan was Conventional, with 64 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 43 $16,095,000 $374,302 $5,168 4.65%
    Cash Out Refi 18 $3,620,000 $201,111 $3,492 5.05%
    Refi 3 $805,000 $268,333 $3,863 4.17%

    For 2018, First State Bank And Trust's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Cash Out Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 36 $10,900,000 $302,778 $4,488 4.88%
    30 Year 13 $3,475,000 $267,308 $4,315 4.54%
    10 Year 6 $2,960,000 $493,333 $5,465 4.47%
    5 Year 4 $1,780,000 $445,000 $0 4.66%
    15 Year 2 $380,000 $190,000 $4,178 4.13%
    1 Year 2 $920,000 $460,000 $0 5.50%
    20 Year 1 $105,000 $105,000 $2,702 4.25%

    For 2018, First State Bank And Trust's most frequently cited loan duration was Other, with 36 originations. The 2nd most popular length was 30 Year, with 13 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 11 $2,965,000 $269,545
    $3k-4k 10 $3,520,000 $352,000
    $<1k 9 $845,000 $93,889
    $1k-2k 8 $970,000 $121,250
    $4k-5k 6 $2,590,000 $431,667
    $5k+ 4 $3,830,000 $957,500

    First State Bank And Trust's average total fees were $4,315, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 11 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 43 $13,755,000 $319,884
    5-6% 13 $3,105,000 $238,846
    3-4% 5 $3,475,000 $695,000
    6-7% 2 $130,000 $65,000
    7-8% 1 $55,000 $55,000

    During 2018, First State Bank And Trust's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 4-5%, with 43 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 21 $6,115,000 $291,190 $5,250 4.56%
    $100k-200k 16 $2,360,000 $147,500 $3,314 4.73%
    $100,000 or less 10 $590,000 $59,000 $1,472 5.39%
    $400k-600k 10 $4,820,000 $482,000 $5,865 4.56%
    $600k-1MM 5 $3,765,000 $753,000 $8,128 4.93%
    $1MM+ 2 $2,870,000 $1,435,000 $10,315 3.98%

    2018 saw First State Bank And Trust place emphasis on $200k-400k loans with 21 originations, totaling $6,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 15 $2,575,000 $171,667 $3,457 4.74%
    $100k-150k 10 $3,850,000 $385,000 $6,244 4.48%
    $150k-250k 10 $3,160,000 $316,000 $4,718 4.56%
    $75k-100k 9 $1,815,000 $201,667 $3,537 4.92%
    $250k+ 7 $4,635,000 $662,143 $7,641 4.53%
    $50k or less 3 $265,000 $88,333 $2,174 5.43%

    First State Bank And Trust lent most frequently to those with incomes in the $50k-75k range, with 15 originations. The second most popular income band? $100k-150k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 15 $4,145,000 $276,333 $4,215 4.87%
    30-36% 11 $3,015,000 $274,091 $4,057 4.58%
    <20% 5 $2,145,000 $429,000 $4,607 4.12%
    >60% 5 $2,715,000 $543,000 $5,788 4.88%
    50-60% 4 $1,000,000 $250,000 $5,129 4.53%
    36% 4 $950,000 $237,500 $5,861 4.59%
    39% 3 $695,000 $231,667 $5,510 4.66%
    38% 3 $605,000 $201,667 $3,640 4.74%
    40% 2 $560,000 $280,000 $5,490 4.56%
    47% 1 $205,000 $205,000 $0 5.25%
    37% 1 $175,000 $175,000 $3,752 3.88%
    49% 1 $75,000 $75,000 $882 6.88%

    First State Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 15 originations. The next most common DTI ratio? 30-36%, with 11 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 55 $16,635,000 $302,455 $4,489 4.69%
    Not applicable 8 $3,650,000 $456,250 $0 5.12%
    American Indian 1 $235,000 $235,000 $4,672 4.50%

    Approval Rates

    Total approvals of all applications
    90.91%

    First State Bank And Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    59.38%

    First State Bank And Trust has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 64 $20,520,000 $320,625

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $2,345,000 $469,000
    Single Family (1-4 Units):Site-Built 59 $18,175,000 $308,051

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $670,000 $111,667 $2,649 4.55%
    40-60% 4 $860,000 $215,000 $4,596 4.51%
    60-80% 30 $12,000,000 $400,000 $4,992 4.68%
    80-100% 18 $6,670,000 $370,556 $6,049 4.62%
    Over 100% 1 $55,000 $55,000 $2,328 5.00%
    Under 20% 5 $265,000 $53,000 $1,033 5.94%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 5 35.7%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 3 21.4%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First State Bank and Trust 125 New England Place Stillwater, MN 55082 Full Service B&M $16,808
    First State Bank and Trust 219 2nd Street South Hudson, WI 54016 Full Service B&M $5,383
    First State Bank and Trust 240 East Avenue Mahtomedi, MN 55115 Limited, Mobile/Seasonal Office $0
    First State Bank and Trust 441 Stageline Road Hudson, WI 54016 Limited, Mobile/Seasonal Office $0
    First State Bank and Trust 5590 Norwich Parkway Oak Park Heights, MN 55082 Limited, Mobile/Seasonal Office $0
    First State Bank and Trust 5891 Neal Avenue North Oak Park Heights, MN 55082 Full Service B&M $52,442
    First State Bank and Trust 950 North Highway 95 Bayport, MN 55003 Full Service B&M $136,914

    For 2018, First State Bank And Trust had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,831
    Net interest income $9,108
    Total noninterest income $4,180
    Gross Fiduciary activities income $2,951
    Service charges on deposit accounts $244
    Trading account gains and fees $0
    Additional Noninterest Income $985
    Pre-tax net operating income $3,179
    Securities gains (or losses, -) $-35
    Income before extraordinary items $3,144
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,144
    Minority interest net income $0
    Net income $3,144
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,179

    First State Bank And Trust's gross interest income from loans was $9,831,000.
    First State Bank And Trust's net interest income from loans was $9,108,000.
    First State Bank And Trust's fee based income from loans was $244,000.
    First State Bank And Trust's net income from loans was $3,144,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $723
    Provision for credit losses $135
    Total noninterest expense $9,974
    Salaries and employee benefits $6,630
    Premises and equipment expense $942
    Additional noninterest expense $2,402
    Applicable income taxes $0
    Net charge-offs $-3
    Cash dividends $2,062

    First State Bank And Trust's interest expense for loans was $723,000.
    First State Bank And Trust's payroll and benefits expense were $6,630,000.
    First State Bank And Trust's property, plant and equipment expenses $942,000.

    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 $225,424
    Deposits held in domestic offices $225,424
    Deposits by Individuals, partnerships, and corporations $215,590
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,834
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $98,478
    Demand deposits $51,918
    Nontransaction accounts $126,946
    Money market deposit accounts (MMDAs) $67,830
    Other savings deposits (excluding MMDAs) $25,590
    Total time deposits $33,526
    Total time and savings deposits $173,506
    Noninterest-bearing deposits $51,918
    Interest-bearing deposits $173,506
    Retail deposits $215,925
    IRAs and Keogh plan accounts $7,104
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $256,017
    Cash & Balances due from depository institutions $22,722
    Interest-bearing balances $18,113
    Total securities $42,530
    Federal funds sold & reverse repurchase $1,144
    Net loans and leases $182,304
    Loan and leases loss allowance $1,822
    Trading account assets $0
    Bank premises and fixed assets $4,390
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,927

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $256,017
    Total Liabilities $233,479
    Total deposits $225,424
    Interest-bearing deposits $173,506
    Deposits held in domestic offices $225,424
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $4,055

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $182,304
    Loan and leases loss allowance $1,822
    Total loans and leases (domestic) $184,126
    All real estate loans $150,006
    Real estate loans in domestic offices $150,006
    Construction and development loans $10,297
    Residential 1-4 family construction $1,245
    Other construction, all land development and other land $9,052
    Loans secured by nonfarm nonresidential properties $45,089
    Nonfarm nonresidential secured by owner-occupied properties $25,249
    Commercial real estate & other non-farm, non-residential $19,840
    Multifamily residential real estate $4,615
    1-4 family residential loans $89,803
    Farmland loans $202
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $16,760
    To non-U.S. addressees $0
    Loans to individuals $14,087
    Credit card loans $0
    Related Plans $420
    Consumer Auto Loans $2,644
    Other loans to individuals $11,023
    All other loans & leases $3,273
    Loans to foreign governments and official institutions $0
    Other loans $34
    Loans to depository institutions and acceptances of other banks $900
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $143
    Non 1-4 family restructured loans & leases $10
    Total loans and leases (foreign) $0

    First State Bank and Trust had $182,304,000 of loans outstanding in 2018. $150,006,000 of loans were in real estate loans. $10,297,000 of loans were in development loans. $4,615,000 of loans were in multifamily mortgage loans. $89,803,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,644,000 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 83 $20,543 $247,506
    Nonfarm, nonresidential loans - <$100k 18 $1,195 $66,389
    Nonfarm, nonresidential loans - $100-250k 24 $4,030 $167,917
    Nonfarm, nonresidential loans - $250k-1MM 41 $15,318 $373,610
    Commercial & Industrial, US addressed loans - <$1MM 175 $13,726 $78,434
    Commercial & Industrial, US addressed loans - <$100k 140 $4,467 $31,907
    Commercial & Industrial, US addressed loans - $100-250k 18 $3,136 $174,222
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $6,123 $360,176
    Farmland loans - <$1MM 1 $202 $202,000
    Farmland loans - $100-250k 1 $202 $202,000