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 Home Improvement loans. American Heritage National Bank has a high proportion of conventional loans. Their top markets by origination volume include: St. Cloud, Brainerd, Minneapolis, and Naples among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    American Heritage National Bank 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.

    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

    67

    Origination Dollar Volume (All Markets)

    $22,965,000

    Employee count

    61

    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) 46 $15,880,000 $345,217 $0 0.00%
    Outside of Metro Areas 9 $3,135,000 $348,333 $0 0.00%
    Brainerd, MN (FHA|USDA|VA) 3 $2,285,000 $761,667 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 8 $1,460,000 $182,500 $0 0.00%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    American Heritage National Bank's top markets include St. Cloud, Brainerd, Minneapolis, 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 67 $22,965,000 $342,761 $0 0.00%

    For 2020, American Heritage National Bank's most frequently originated type of loan was Conventional, with 67 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $12,895,000 $444,655 $0 0.00%
    Cash Out Refi 26 $3,060,000 $117,692 $0 0.00%
    Refi 8 $1,530,000 $191,250 $0 0.00%
    Home Improvement 4 $5,480,000 $1,370,000 $0 0.00%

    For 2020, American Heritage National Bank's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 67 $22,965,000 $342,761 $0 0.00%

    For 2020, American Heritage National Bank's most frequently cited loan duration was Other, with 67 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 29 $3,915,000 $135,000 $0 0.00%
    $100,000 or less 21 $1,355,000 $64,524 $0 0.00%
    $1MM+ 7 $14,105,000 $2,015,000 $0 0.00%
    $200k-400k 6 $1,450,000 $241,667 $0 0.00%
    $400k-600k 3 $1,355,000 $451,667 $0 0.00%
    $600k-1MM 1 $785,000 $785,000 $0 0.00%

    2020 saw American Heritage National Bank place emphasis on $100k-200k loans with 29 originations, totaling $3,915,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 9 $2,235,000 $248,333 $0 0.00%
    $50k-75k 7 $925,000 $132,143 $0 0.00%
    $50k or less 6 $640,000 $106,667 $0 0.00%
    $100k-150k 4 $400,000 $100,000 $0 0.00%
    $150k-250k 3 $715,000 $238,333 $0 0.00%
    $250k+ 3 $3,135,000 $1,045,000 $0 0.00%

    American Heritage National Bank lent most frequently to those with incomes in the $75k-100k range, with 9 originations. The second most popular income band? $50k-75k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 67 $22,965,000 $342,761 $0 0.00%

    American Heritage National Bank lent most frequently to those with DTI ratios of Exempt%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 35 $14,915,000 $426,143 $0 0.00%
    White 28 $5,400,000 $192,857 $0 0.00%
    Not provided 4 $2,650,000 $662,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.44%

    American Heritage National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    47.76%

    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 67 $22,965,000 $342,761

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 17 $15,735,000 $925,588
    Single Family (1-4 Units):Manufactured 2 $480,000 $240,000
    Single Family (1-4 Units):Site-Built 48 $6,750,000 $140,625

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    AMERICAN BANCSHARES MORTGAGE, LLC FHA mortgage Closing on a mortgage 1 50.0%
    AMERICAN BANCSHARES MORTGAGE, LLC 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 $103,689
    American Heritage National Bank 24 2nd Street South Long Prairie, MN 56347 Full Service B&M $83,026
    American Heritage National Bank 2915 2nd Street South St. Cloud, MN 56301 Full Service B&M $132,463
    American Heritage National Bank 502 South Main Browerville, MN 56438 Full Service B&M $17,906
    American Heritage National Bank 525 Highway 10 South Saint Cloud, MN 56304 Full Service B&M $36,671
    American Heritage National Bank 800 Nelson Dr Clearwater, MN 55320 Full Service B&M $7,879

    For 2020, American Heritage National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,160
    Net interest income $13,720
    Total noninterest income $2,355
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $246
    Trading account gains and fees $0
    Additional Noninterest Income $2,109
    Pre-tax net operating income $6,502
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,651
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,651
    Minority interest net income $0
    Net income $4,651
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,651

    American Heritage National Bank's gross interest income from loans was $15,160,000.
    American Heritage National Bank's net interest income from loans was $13,720,000.
    American Heritage National Bank's fee based income from loans was $246,000.
    American Heritage National Bank's net income from loans was $4,651,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,440
    Provision for credit losses $825
    Total noninterest expense $8,748
    Salaries and employee benefits $5,784
    Premises and equipment expense $1,305
    Additional noninterest expense $1,659
    Applicable income taxes $1,851
    Net charge-offs $-11
    Cash dividends $1,570

    American Heritage National Bank's interest expense for loans was $1,440,000.
    American Heritage National Bank's payroll and benefits expense were $5,784,000.
    American Heritage National Bank's property, plant and equipment expenses $1,305,000.

    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 $425,777
    Deposits held in domestic offices $425,777
    Deposits by Individuals, partnerships, and corporations $387,380
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $38,397
    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 $206,765
    Demand deposits $126,197
    Nontransaction accounts $219,012
    Money market deposit accounts (MMDAs) $118,331
    Other savings deposits (excluding MMDAs) $52,015
    Total time deposits $48,666
    Total time and savings deposits $299,580
    Noninterest-bearing deposits $127,238
    Interest-bearing deposits $298,539
    Retail deposits $416,457
    IRAs and Keogh plan accounts $15,531
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $475,655
    Cash & Balances due from depository institutions $127,250
    Interest-bearing balances $125,364
    Total securities $42,596
    Federal funds sold & reverse repurchase $0
    Net loans and leases $287,446
    Loan and leases loss allowance $4,751
    Trading account assets $0
    Bank premises and fixed assets $6,009
    Other real estate owned $311
    Goodwill and other intangibles $5,281
    All other assets $6,762

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $475,655
    Total Liabilities $426,518
    Total deposits $425,777
    Interest-bearing deposits $298,539
    Deposits held in domestic offices $425,777
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $741

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $287,446
    Loan and leases loss allowance $4,751
    Total loans and leases (domestic) $292,197
    All real estate loans $232,604
    Real estate loans in domestic offices $232,604
    Construction and development loans $9,978
    Residential 1-4 family construction $2,468
    Other construction, all land development and other land $7,510
    Loans secured by nonfarm nonresidential properties $114,176
    Nonfarm nonresidential secured by owner-occupied properties $57,070
    Commercial real estate & other non-farm, non-residential $57,106
    Multifamily residential real estate $65,247
    1-4 family residential loans $37,882
    Farmland loans $5,321
    Loans held in foreign offices $0
    Farm loans $1,676
    Commercial and industrial loans $56,887
    To non-U.S. addressees $0
    Loans to individuals $992
    Credit card loans $0
    Related Plans $44
    Consumer Auto Loans $534
    Other loans to individuals $414
    All other loans & leases $38
    Loans to foreign governments and official institutions $0
    Other loans $38
    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 $371
    Non 1-4 family restructured loans & leases $132
    Total loans and leases (foreign) $0

    American Heritage National Bank had $287,446,000 of loans outstanding in 2020. $232,604,000 of loans were in real estate loans. $9,978,000 of loans were in development loans. $65,247,000 of loans were in multifamily mortgage loans. $37,882,000 of loans were in 1-4 family mortgage loans. $1,676,000 of loans were in farm loans. $0 of loans were in credit card loans. $534,000 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 153 $38,243 $249,954
    Nonfarm, nonresidential loans - <$100k 39 $1,594 $40,872
    Nonfarm, nonresidential loans - $100-250k 39 $4,997 $128,128
    Nonfarm, nonresidential loans - $250k-1MM 75 $31,652 $422,027
    Commercial & Industrial, US addressed loans - <$1MM 320 $23,560 $73,625
    Commercial & Industrial, US addressed loans - <$100k 215 $4,873 $22,665
    Commercial & Industrial, US addressed loans - $100-250k 68 $6,857 $100,838
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $11,830 $319,730
    Farmland loans - <$1MM 60 $5,321 $88,683
    Farmland loans - <$100k 34 $1,249 $36,735
    Farmland loans - $100-250k 21 $2,654 $126,381
    Farmland loans - $250k-1MM 5 $1,418 $283,600
    Agriculture operations loans - <$1MM 68 $1,330 $19,559
    Agriculture operations loans - <$100k 64 $1,012 $15,813
    Agriculture operations loans - $100-250k 4 $318 $79,500