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: Minneapolis, St. Cloud, Grand Rapids, Brainerd, and Duluth 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 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

    59

    Origination Dollar Volume (All Markets)

    $36,495,000

    Employee count

    64

    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) 15 $18,685,000 $1,245,667 $0 0.00%
    Outside of Metro Areas 9 $8,965,000 $996,111 $0 0.00%
    ST. CLOUD, MN (FHA|USDA|VA) 31 $8,325,000 $268,548 $0 0.00%
    Grand Rapids, MN (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    Brainerd, MN (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Fergus Falls, MN (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    American Heritage National Bank's top markets include Minneapolis, St. Cloud, Grand Rapids, Brainerd, and Duluth among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 59 $36,495,000 $618,559 $0 0.00%

    For 2021, American Heritage National Bank's most frequently originated type of loan was Conventional, with 59 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 35 $12,015,000 $343,286 $0 0.00%
    Refi 13 $2,745,000 $211,154 $0 0.00%
    Home Improvement 6 $20,970,000 $3,495,000 $0 0.00%
    Cash Out Refi 5 $765,000 $153,000 $0 0.00%

    For 2021, American Heritage National Bank's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 59 $36,495,000 $618,559 $0 0.00%

    For 2021, American Heritage National Bank's most frequently cited loan duration was Other, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 17 $2,125,000 $125,000 $0 0.00%
    $200k-400k 16 $4,270,000 $266,875 $0 0.00%
    $100,000 or less 14 $790,000 $56,429 $0 0.00%
    $1MM+ 7 $25,925,000 $3,703,571 $0 0.00%
    $600k-1MM 3 $2,405,000 $801,667 $0 0.00%
    $400k-600k 2 $980,000 $490,000 $0 0.00%

    2021 saw American Heritage National Bank place emphasis on $100k-200k loans with 17 originations, totaling $2,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 7 $555,000 $79,286 $0 0.00%
    $75k-100k 7 $915,000 $130,714 $0 0.00%
    $250k+ 3 $1,425,000 $475,000 $0 0.00%
    $50k-75k 3 $615,000 $205,000 $0 0.00%
    $150k-250k 2 $600,000 $300,000 $0 0.00%
    $100k-150k 1 $75,000 $75,000 $0 0.00%

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

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 59 $36,495,000 $618,559 $0 0.00%

    American Heritage National Bank lent most frequently to those with DTI ratios of Exempt%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 35 $32,265,000 $921,857 $0 0.00%
    White 22 $3,810,000 $173,182 $0 0.00%
    Not provided 2 $420,000 $210,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.78%

    American Heritage National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    62.71%

    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 59 $36,495,000 $618,559

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    59 $36,495,000 $618,559

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    AMERICAN BANCSHARES MORTGAGE, LLC Conventional home mortgage Closing on a 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 $116,968
    American Heritage National Bank 24 2nd Street South Long Prairie, MN 56347 Full Service B&M $97,006
    American Heritage National Bank 2915 2nd Street South St. Cloud, MN 56301 Full Service B&M $148,215
    American Heritage National Bank 502 South Main Browerville, MN 56438 Full Service B&M $19,197
    American Heritage National Bank 525 Highway 10 South Saint Cloud, MN 56304 Full Service B&M $47,321
    American Heritage National Bank 800 Nelson Dr Clearwater, MN 55320 Full Service B&M $11,268

    For 2021, American Heritage National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,784
    Net interest income $12,805
    Total noninterest income $2,616
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $237
    Trading account gains and fees $0
    Additional Noninterest Income $2,379
    Pre-tax net operating income $6,521
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,703
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,703
    Minority interest net income $0
    Net income $4,703
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,703

    American Heritage National Bank's gross interest income from loans was $13,784,000.
    American Heritage National Bank's net interest income from loans was $12,805,000.
    American Heritage National Bank's fee based income from loans was $237,000.
    American Heritage National Bank's net income from loans was $4,703,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $979
    Provision for credit losses $0
    Total noninterest expense $8,900
    Salaries and employee benefits $5,762
    Premises and equipment expense $1,217
    Additional noninterest expense $1,921
    Applicable income taxes $1,818
    Net charge-offs $-9
    Cash dividends $83

    American Heritage National Bank's interest expense for loans was $979,000.
    American Heritage National Bank's payroll and benefits expense were $5,762,000.
    American Heritage National Bank's property, plant and equipment expenses $1,217,000.

    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 $494,677
    Deposits held in domestic offices $494,677
    Deposits by Individuals, partnerships, and corporations $448,427
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $46,250
    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 $245,219
    Demand deposits $150,825
    Nontransaction accounts $249,458
    Money market deposit accounts (MMDAs) $141,408
    Other savings deposits (excluding MMDAs) $61,079
    Total time deposits $46,971
    Total time and savings deposits $343,852
    Noninterest-bearing deposits $152,200
    Interest-bearing deposits $342,477
    Retail deposits $486,357
    IRAs and Keogh plan accounts $15,213
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $549,579
    Cash & Balances due from depository institutions $181,473
    Interest-bearing balances $179,531
    Total securities $49,638
    Federal funds sold & reverse repurchase $0
    Net loans and leases $293,550
    Loan and leases loss allowance $4,760
    Trading account assets $0
    Bank premises and fixed assets $7,302
    Other real estate owned $0
    Goodwill and other intangibles $5,119
    All other assets $12,497

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $549,579
    Total Liabilities $495,892
    Total deposits $494,677
    Interest-bearing deposits $342,477
    Deposits held in domestic offices $494,677
    % insured (estimated) $64
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,215

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $293,550
    Loan and leases loss allowance $4,760
    Total loans and leases (domestic) $298,310
    All real estate loans $249,368
    Real estate loans in domestic offices $249,368
    Construction and development loans $21,740
    Residential 1-4 family construction $4,189
    Other construction, all land development and other land $17,551
    Loans secured by nonfarm nonresidential properties $114,929
    Nonfarm nonresidential secured by owner-occupied properties $56,073
    Commercial real estate & other non-farm, non-residential $58,856
    Multifamily residential real estate $68,165
    1-4 family residential loans $40,520
    Farmland loans $4,014
    Loans held in foreign offices $0
    Farm loans $1,206
    Commercial and industrial loans $45,881
    To non-U.S. addressees $0
    Loans to individuals $1,791
    Credit card loans $0
    Related Plans $38
    Consumer Auto Loans $556
    Other loans to individuals $1,197
    All other loans & leases $64
    Loans to foreign governments and official institutions $0
    Other loans $64
    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 $351
    Non 1-4 family restructured loans & leases $122
    Total loans and leases (foreign) $0

    American Heritage National Bank had $293,550,000 of loans outstanding in 2021. $249,368,000 of loans were in real estate loans. $21,740,000 of loans were in development loans. $68,165,000 of loans were in multifamily mortgage loans. $40,520,000 of loans were in 1-4 family mortgage loans. $1,206,000 of loans were in farm loans. $0 of loans were in credit card loans. $556,000 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 137 $36,574 $266,964
    Nonfarm, nonresidential loans - <$100k 29 $1,108 $38,207
    Nonfarm, nonresidential loans - $100-250k 38 $4,886 $128,579
    Nonfarm, nonresidential loans - $250k-1MM 70 $30,580 $436,857
    Commercial & Industrial, US addressed loans - <$1MM 169 $12,628 $74,722
    Commercial & Industrial, US addressed loans - <$100k 100 $2,150 $21,500
    Commercial & Industrial, US addressed loans - $100-250k 39 $3,097 $79,410
    Commercial & Industrial, US addressed loans - $250k-1MM 30 $7,381 $246,033
    Farmland loans - <$1MM 47 $4,013 $85,383
    Farmland loans - <$100k 26 $921 $35,423
    Farmland loans - $100-250k 18 $2,341 $130,056
    Farmland loans - $250k-1MM 3 $751 $250,333
    Agriculture operations loans - <$1MM 59 $1,023 $17,339
    Agriculture operations loans - <$100k 55 $756 $13,745
    Agriculture operations loans - $100-250k 4 $267 $66,750