American Heritage National Bank Mortgage Rates, Fees & Info
Long Prairie, MNLEI: 549300G3WIMVDYUYQC27
Tax ID: 41-0138450
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Mortgage Data
Bank Data
Review & Overview
American Heritage National Bank is a smaller bank specializing in Home Purchase and Home Improvement loans. American Heritage National Bank has a high proportion of conventional loans. American Heritage National Bank has a low ratio of conventional loans. Their top markets by origination volume include: St. Cloud, Minneapolis, Cape Coral, Brainerd, and Naples among others. We have data for 6 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.
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Originations
35Origination Dollar Volume (All Markets)
$15,275,000Employee count
61Top 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) | 22 | $9,470,000 | $430,455 | $2,005 | 4.78% |
| Outside of Metro Areas | 5 | $3,855,000 | $771,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $220,000 | $110,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 33 | $14,665,000 | $444,394 | $0 | 0.00% |
| Conventional | 2 | $610,000 | $305,000 | $2,005 | 4.78% |
For 2019, American Heritage National Bank's most frequently originated type of loan was Conventional, with 33 originations. Their 2nd most popular type was Conventional, with 2 originations.
Loan Reason
For 2019, American Heritage National Bank's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 35 | $15,275,000 | $436,429 | $2,005 | 4.78% |
For 2019, American Heritage National Bank's most frequently cited loan duration was Other, with 35 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $305,000 | $305,000 |
| $2k-3k | 1 | $305,000 | $305,000 |
American Heritage National Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 2 | $610,000 | $305,000 |
During 2019, American Heritage National Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 2 originations.
Loan Sizing
2019 saw American Heritage National Bank place emphasis on $100,000 or less loans with 13 originations, totaling $745,000 in origination value.
Applicant Income
American Heritage National Bank lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $50k-75k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 33 | $14,665,000 | $444,394 | $0 | 0.00% |
| 20-30% | 1 | $305,000 | $305,000 | $231 | 4.70% |
| >60% | 1 | $305,000 | $305,000 | $3,780 | 4.85% |
American Heritage National Bank lent most frequently to those with DTI ratios of Exempt%, with 33 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.55%
American Heritage National Bank has an average approval rate.
Pick Rate
Approvals leading to origination31.43%
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 | 33 | $14,665,000 | $444,394 |
| NA | 2 | $610,000 | $305,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 4 | $9,860,000 | $2,465,000 |
| Single Family (1-4 Units):Site-Built | 31 | $5,415,000 | $174,677 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 2 | $610,000 | $305,000 | $2,005 | 4.78% |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| American Heritage Capital, LP | 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) |
|---|---|---|---|
| American Heritage National Bank | 104 Avon Ave North Avon, MN 56310 | Full Service B&M | $88,019 |
| American Heritage National Bank | 24 2nd Street South Long Prairie, MN 56347 | Full Service B&M | $73,220 |
| American Heritage National Bank | 2915 2nd Street South St. Cloud, MN 56301 | Full Service B&M | $92,761 |
| American Heritage National Bank | 502 South Main Browerville, MN 56438 | Full Service B&M | $17,367 |
| American Heritage National Bank | 525 Highway 10 South Saint Cloud, MN 56304 | Full Service B&M | $30,968 |
| American Heritage National Bank | 800 Nelson Dr Clearwater, MN 55320 | Full Service B&M | $3,921 |
For 2019, American Heritage National Bank had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $14,826 |
| Net interest income | $12,901 |
| Total noninterest income | $1,711 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $470 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,241 |
| Pre-tax net operating income | $6,324 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,630 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,630 |
| Minority interest net income | $0 |
| Net income | $4,630 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,630 |
American Heritage National Bank's gross interest income from loans was $14,826,000.
American Heritage National Bank's net interest income from loans was $12,901,000.
American Heritage National Bank's fee based income from loans was $470,000.
American Heritage National Bank's net income from loans was $4,630,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,925 |
| Provision for credit losses | $20 |
| Total noninterest expense | $8,268 |
| Salaries and employee benefits | $5,235 |
| Premises and equipment expense | $1,411 |
| Additional noninterest expense | $1,622 |
| Applicable income taxes | $1,694 |
| Net charge-offs | $-9 |
| Cash dividends | $1,884 |
American Heritage National Bank's interest expense for loans was $1,925,000.
American Heritage National Bank's payroll and benefits expense were $5,235,000.
American Heritage National Bank's property, plant and equipment expenses $1,411,000.
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 | 2.0% |
| 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 | $331,979 |
| Deposits held in domestic offices | $331,979 |
| Deposits by Individuals, partnerships, and corporations | $299,515 |
| Deposits by U.S. Government | $10 |
| Deposits by States and political subdivisions in the U.S. | $32,454 |
| 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 | $148,504 |
| Demand deposits | $95,123 |
| Nontransaction accounts | $183,475 |
| Money market deposit accounts (MMDAs) | $88,640 |
| Other savings deposits (excluding MMDAs) | $47,045 |
| Total time deposits | $47,790 |
| Total time and savings deposits | $236,856 |
| Noninterest-bearing deposits | $95,882 |
| Interest-bearing deposits | $236,097 |
| Retail deposits | $323,372 |
| IRAs and Keogh plan accounts | $17,244 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $378,582 |
| Cash & Balances due from depository institutions | $94,634 |
| Interest-bearing balances | $92,543 |
| Total securities | $33,871 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $232,080 |
| Loan and leases loss allowance | $3,915 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,175 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $5,444 |
| All other assets | $6,378 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $378,582 |
| Total Liabilities | $332,555 |
| Total deposits | $331,979 |
| Interest-bearing deposits | $236,097 |
| Deposits held in domestic offices | $331,979 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $576 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $232,080 |
| Loan and leases loss allowance | $3,915 |
| Total loans and leases (domestic) | $235,995 |
| All real estate loans | $204,892 |
| Real estate loans in domestic offices | $204,892 |
| Construction and development loans | $9,036 |
| Residential 1-4 family construction | $3,259 |
| Other construction, all land development and other land | $5,777 |
| Loans secured by nonfarm nonresidential properties | $94,374 |
| Nonfarm nonresidential secured by owner-occupied properties | $42,977 |
| Commercial real estate & other non-farm, non-residential | $51,397 |
| Multifamily residential real estate | $53,080 |
| 1-4 family residential loans | $42,744 |
| Farmland loans | $5,658 |
| Loans held in foreign offices | $0 |
| Farm loans | $2,467 |
| Commercial and industrial loans | $27,522 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,106 |
| Credit card loans | $0 |
| Related Plans | $55 |
| Consumer Auto Loans | $525 |
| Other loans to individuals | $526 |
| All other loans & leases | $8 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $8 |
| 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 | $415 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
American Heritage National Bank had $232,080,000 of loans outstanding in 2019. $204,892,000 of loans were in real estate loans. $9,036,000 of loans were in development loans. $53,080,000 of loans were in multifamily mortgage loans. $42,744,000 of loans were in 1-4 family mortgage loans. $2,467,000 of loans were in farm loans. $0 of loans were in credit card loans. $525,000 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 | 149 | $34,185 | $229,430 |
| Nonfarm, nonresidential loans - <$100k | 44 | $1,602 | $36,409 |
| Nonfarm, nonresidential loans - $100-250k | 41 | $5,440 | $132,683 |
| Nonfarm, nonresidential loans - $250k-1MM | 64 | $27,143 | $424,109 |
| Commercial & Industrial, US addressed loans - <$1MM | 193 | $13,135 | $68,057 |
| Commercial & Industrial, US addressed loans - <$100k | 123 | $2,737 | $22,252 |
| Commercial & Industrial, US addressed loans - $100-250k | 41 | $3,613 | $88,122 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 29 | $6,785 | $233,966 |
| Farmland loans - <$1MM | 65 | $4,739 | $72,908 |
| Farmland loans - <$100k | 40 | $1,408 | $35,200 |
| Farmland loans - $100-250k | 21 | $2,547 | $121,286 |
| Farmland loans - $250k-1MM | 4 | $784 | $196,000 |
| Agriculture operations loans - <$1MM | 85 | $1,963 | $23,094 |
| Agriculture operations loans - <$100k | 80 | $1,531 | $19,138 |
| Agriculture operations loans - $100-250k | 5 | $432 | $86,400 |