American Heritage National Bank Mortgage Rates, Fees & Info

Long Prairie, MN

LEI: 549300G3WIMVDYUYQC27

Tax ID: 41-0138450

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Mortgage Data

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

    American Heritage National Bank is a smaller bank specializing in Home Purchase and Refi loans. American Heritage National Bank has a high proportion of conventional loans. Their top markets by origination volume include: St. Cloud, Minneapolis, Brainerd, Fergus Falls, and Naples among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    American Heritage National Bank has an average approval rate when compared to the average across all lenders. They have a below 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

    58

    Origination Dollar Volume (All Markets)

    $19,940,000

    Employee count

    62

    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
    ST. CLOUD, MN (FHA|USDA|VA) 40 $10,590,000 $264,750 $0 0.00%
    Outside of Metro Areas 11 $4,665,000 $424,091 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 3 $3,185,000 $1,061,667 $0 0.00%
    Brainerd, MN (FHA|USDA|VA) 1 $875,000 $875,000 $0 0.00%
    Fergus Falls, MN (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Grand Rapids, MN (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    American Heritage National Bank's top markets include St. Cloud, Minneapolis, Brainerd, Fergus Falls, and Naples among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $19,765,000 $346,754 $0 0.00%
    VA 1 $175,000 $175,000 $0 0.00%

    For 2018, American Heritage National Bank's most frequently originated type of loan was Conventional, with 57 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 33 $15,135,000 $458,636 $0 0.00%
    Refi 12 $4,150,000 $345,833 $0 0.00%
    Cash Out Refi 7 $475,000 $67,857 $0 0.00%
    Home Improvement 5 $145,000 $29,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    For 2018, American Heritage National Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 58 $19,940,000 $343,793 $0 0.00%

    For 2018, American Heritage National Bank's most frequently cited loan duration was Other, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 22 $1,290,000 $58,636 $0 0.00%
    $100k-200k 20 $2,860,000 $143,000 $0 0.00%
    $200k-400k 6 $1,590,000 $265,000 $0 0.00%
    $1MM+ 5 $10,575,000 $2,115,000 $0 0.00%
    $600k-1MM 3 $2,485,000 $828,333 $0 0.00%
    $400k-600k 2 $1,140,000 $570,000 $0 0.00%

    2018 saw American Heritage National Bank place emphasis on $100,000 or less loans with 22 originations, totaling $1,290,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 8 $410,000 $51,250 $0 0.00%
    $50k or less 7 $765,000 $109,286 $0 0.00%
    $100k-150k 6 $460,000 $76,667 $0 0.00%
    $75k-100k 5 $705,000 $141,000 $0 0.00%
    $250k+ 3 $1,025,000 $341,667 $0 0.00%
    $150k-250k 1 $255,000 $255,000 $0 0.00%

    American Heritage National Bank lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $50k or less, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 58 $19,940,000 $343,793 $0 0.00%

    American Heritage National Bank lent most frequently to those with DTI ratios of Exempt%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 28 $16,320,000 $582,857 $0 0.00%
    White 29 $3,555,000 $122,586 $0 0.00%
    Not provided 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.37%

    American Heritage National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.97%

    American Heritage National Bank 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
    Exempt 58 $19,940,000 $343,793

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $13,075,000 $1,452,778
    Single Family (1-4 Units):Manufactured 1 $185,000 $185,000
    Single Family (1-4 Units):Site-Built 48 $6,680,000 $139,167

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    AMERICAN FINANCING CORPORATION Conventional home mortgage Unable to get your credit report or credit score 1 50.0%
    AMERICAN FINANCING CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    American Heritage National Bank 104 Avon Ave North Avon, MN 56310 Full Service B&M $87,781
    American Heritage National Bank 24 2nd Street South Long Prairie, MN 56347 Full Service B&M $73,201
    American Heritage National Bank 2915 2nd Street South St. Cloud, MN 56301 Full Service B&M $96,387
    American Heritage National Bank 502 South Main Browerville, MN 56438 Full Service B&M $17,177
    American Heritage National Bank 525 Highway 10 South Saint Cloud, MN 56304 Full Service B&M $30,489
    American Heritage National Bank 800 Nelson Dr Clearwater, MN 55320 Full Service B&M $2,778

    For 2018, American Heritage National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,770
    Net interest income $12,506
    Total noninterest income $1,565
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $475
    Trading account gains and fees $0
    Additional Noninterest Income $1,090
    Pre-tax net operating income $6,015
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,330
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,330
    Minority interest net income $0
    Net income $4,330
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,330

    American Heritage National Bank's gross interest income from loans was $13,770,000.
    American Heritage National Bank's net interest income from loans was $12,506,000.
    American Heritage National Bank's fee based income from loans was $475,000.
    American Heritage National Bank's net income from loans was $4,330,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,264
    Provision for credit losses $550
    Total noninterest expense $7,506
    Salaries and employee benefits $4,721
    Premises and equipment expense $1,147
    Additional noninterest expense $1,638
    Applicable income taxes $1,685
    Net charge-offs $-22
    Cash dividends $1,600

    American Heritage National Bank's interest expense for loans was $1,264,000.
    American Heritage National Bank's payroll and benefits expense were $4,721,000.
    American Heritage National Bank's property, plant and equipment expenses $1,147,000.

    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 1.0%
    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 $317,256
    Deposits held in domestic offices $317,256
    Deposits by Individuals, partnerships, and corporations $285,598
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $31,656
    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 $132,251
    Demand deposits $85,780
    Nontransaction accounts $185,005
    Money market deposit accounts (MMDAs) $90,620
    Other savings deposits (excluding MMDAs) $50,591
    Total time deposits $43,794
    Total time and savings deposits $231,476
    Noninterest-bearing deposits $86,367
    Interest-bearing deposits $230,889
    Retail deposits $310,523
    IRAs and Keogh plan accounts $19,584
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $360,848
    Cash & Balances due from depository institutions $48,640
    Interest-bearing balances $45,947
    Total securities $39,105
    Federal funds sold & reverse repurchase $0
    Net loans and leases $254,697
    Loan and leases loss allowance $3,886
    Trading account assets $0
    Bank premises and fixed assets $6,299
    Other real estate owned $0
    Goodwill and other intangibles $5,606
    All other assets $6,501

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $360,848
    Total Liabilities $317,860
    Total deposits $317,256
    Interest-bearing deposits $230,889
    Deposits held in domestic offices $317,256
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $604

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $254,697
    Loan and leases loss allowance $3,886
    Total loans and leases (domestic) $258,583
    All real estate loans $222,173
    Real estate loans in domestic offices $222,173
    Construction and development loans $12,314
    Residential 1-4 family construction $4,010
    Other construction, all land development and other land $8,304
    Loans secured by nonfarm nonresidential properties $108,907
    Nonfarm nonresidential secured by owner-occupied properties $52,074
    Commercial real estate & other non-farm, non-residential $56,833
    Multifamily residential real estate $50,721
    1-4 family residential loans $43,100
    Farmland loans $7,131
    Loans held in foreign offices $0
    Farm loans $2,687
    Commercial and industrial loans $31,415
    To non-U.S. addressees $0
    Loans to individuals $2,292
    Credit card loans $0
    Related Plans $35
    Consumer Auto Loans $784
    Other loans to individuals $1,473
    All other loans & leases $16
    Loans to foreign governments and official institutions $0
    Other loans $16
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $232
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    American Heritage National Bank had $254,697,000 of loans outstanding in 2018. $222,173,000 of loans were in real estate loans. $12,314,000 of loans were in development loans. $50,721,000 of loans were in multifamily mortgage loans. $43,100,000 of loans were in 1-4 family mortgage loans. $2,687,000 of loans were in farm loans. $0 of loans were in credit card loans. $784,000 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 162 $37,210 $229,691
    Nonfarm, nonresidential loans - <$100k 49 $1,915 $39,082
    Nonfarm, nonresidential loans - $100-250k 49 $6,365 $129,898
    Nonfarm, nonresidential loans - $250k-1MM 64 $28,930 $452,031
    Commercial & Industrial, US addressed loans - <$1MM 200 $14,311 $71,555
    Commercial & Industrial, US addressed loans - <$100k 129 $3,366 $26,093
    Commercial & Industrial, US addressed loans - $100-250k 39 $3,105 $79,615
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $7,840 $245,000
    Farmland loans - <$1MM 72 $6,129 $85,125
    Farmland loans - <$100k 42 $1,695 $40,357
    Farmland loans - $100-250k 24 $3,162 $131,750
    Farmland loans - $250k-1MM 6 $1,272 $212,000
    Agriculture operations loans - <$1MM 98 $2,365 $24,133
    Agriculture operations loans - <$100k 92 $1,822 $19,804
    Agriculture operations loans - $100-250k 6 $543 $90,500