Minnesota Bank & Trust Mortgage Rates, Fees & Info
Edina, MNLEI: 549300H8LK0AWIAODP34
Tax ID: 42-1757950
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Mortgage Data
Bank Data
Review & Overview
Minnesota Bank & Trust is a smaller bank specializing in Refi and Home Purchase loans. Minnesota Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Salinas, Los Angeles, Cape Coral, and Phoenix among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)Minnesota Bank & 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. Minnesota Bank & Trust is typically an average 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.
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Originations
37Origination Dollar Volume (All Markets)
$13,495,000Employee count
49Top 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) | 31 | $10,855,000 | $350,161 | $2,334 | 5.99% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $1,005,000 | $1,005,000 | $14,198 | 4.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $6,176 | 4.00% |
| Outside of Metro Areas | 1 | $405,000 | $405,000 | $7,980 | 4.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $7,442 | 4.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 5.25% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,124 | 6.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 37 | $13,495,000 | $364,730 | $3,572 | 5.75% |
For 2018, Minnesota Bank & Trust's most frequently originated type of loan was Conventional, with 37 originations.
Loan Reason
For 2018, Minnesota Bank & Trust's most frequently cited loan purpose was Refi, with 20 originations. The 2nd most popular reason was Home Purchase, with 11 originations.
Loan Duration/Length
For 2018, Minnesota Bank & Trust's most frequently cited loan duration was 10 Year, with 9 originations. The 2nd most popular length was 30 Year, with 8 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 10 | $740,000 | $74,000 |
| $1k-2k | 6 | $1,530,000 | $255,000 |
| $5k+ | 5 | $3,035,000 | $607,000 |
| $4k-5k | 1 | $395,000 | $395,000 |
Minnesota Bank & Trust's average total fees were $8,229, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 10 originations.
Interest Rates
During 2018, Minnesota Bank & Trust's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 5-6%, with 15 originations.
Loan Sizing
2018 saw Minnesota Bank & Trust place emphasis on $100,000 or less loans with 10 originations, totaling $590,000 in origination value.
Applicant Income
Minnesota Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 10 originations. The second most popular income band? $150k-250k, with 6 originations.
Applicant Debt to Income Ratio
Minnesota Bank & Trust lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 37%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.08%
Minnesota Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination67.57%
Minnesota Bank & 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 | 37 | $13,495,000 | $364,730 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Minnesota Bank & Trust | 7701 France Avenue South Edina, MN 55435 | Full Service B&M | $223,115 |
| Minnesota Bank & Trust | 9800 Bren Road East, Suite 200 Minnetonka, MN 55343 | Full Service B&M | $338,142 |
For 2018, Minnesota Bank & Trust had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $27,395 |
| Net interest income | $24,544 |
| Total noninterest income | $4,531 |
| Gross Fiduciary activities income | $871 |
| Service charges on deposit accounts | $904 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,756 |
| Pre-tax net operating income | $5,816 |
| Securities gains (or losses, -) | $7 |
| Income before extraordinary items | $4,548 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,548 |
| Minority interest net income | $0 |
| Net income | $4,548 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,542 |
Minnesota Bank & Trust's gross interest income from loans was $27,395,000.
Minnesota Bank & Trust's net interest income from loans was $24,544,000.
Minnesota Bank & Trust's fee based income from loans was $904,000.
Minnesota Bank & Trust's net income from loans was $4,548,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,851 |
| Provision for credit losses | $4,879 |
| Total noninterest expense | $18,380 |
| Salaries and employee benefits | $7,738 |
| Premises and equipment expense | $1,361 |
| Additional noninterest expense | $9,281 |
| Applicable income taxes | $1,275 |
| Net charge-offs | $758 |
| Cash dividends | $0 |
Minnesota Bank & Trust's interest expense for loans was $2,851,000.
Minnesota Bank & Trust's payroll and benefits expense were $7,738,000.
Minnesota Bank & Trust's property, plant and equipment expenses $1,361,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 2.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 5.0% |
| 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 | $560,399 |
| Deposits held in domestic offices | $560,399 |
| Deposits by Individuals, partnerships, and corporations | $554,248 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $6,151 |
| 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 | $172,564 |
| Demand deposits | $143,618 |
| Nontransaction accounts | $387,835 |
| Money market deposit accounts (MMDAs) | $334,217 |
| Other savings deposits (excluding MMDAs) | $2,354 |
| Total time deposits | $51,264 |
| Total time and savings deposits | $416,781 |
| Noninterest-bearing deposits | $189,274 |
| Interest-bearing deposits | $371,125 |
| Retail deposits | $548,763 |
| IRAs and Keogh plan accounts | $2,553 |
| Brokered deposits | $2,502 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $666,564 |
| Cash & Balances due from depository institutions | $20,020 |
| Interest-bearing balances | $6,911 |
| Total securities | $105,120 |
| Federal funds sold & reverse repurchase | $24,250 |
| Net loans and leases | $463,950 |
| Loan and leases loss allowance | $5,327 |
| Trading account assets | $653 |
| Bank premises and fixed assets | $580 |
| Other real estate owned | $1,966 |
| Goodwill and other intangibles | $40,315 |
| All other assets | $9,710 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $666,564 |
| Total Liabilities | $565,407 |
| Total deposits | $560,399 |
| Interest-bearing deposits | $371,125 |
| Deposits held in domestic offices | $560,399 |
| % insured (estimated) | $50 |
| Federal funds purchased and repurchase agreements | $1,483 |
| Trading liabilities | $653 |
| Other borrowed funds | $927 |
| Subordinated debt | $0 |
| All other liabilities | $1,945 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $463,950 |
| Loan and leases loss allowance | $5,327 |
| Total loans and leases (domestic) | $469,277 |
| All real estate loans | $262,684 |
| Real estate loans in domestic offices | $262,684 |
| Construction and development loans | $35,843 |
| Residential 1-4 family construction | $5,918 |
| Other construction, all land development and other land | $29,925 |
| Loans secured by nonfarm nonresidential properties | $131,291 |
| Nonfarm nonresidential secured by owner-occupied properties | $68,724 |
| Commercial real estate & other non-farm, non-residential | $62,567 |
| Multifamily residential real estate | $13,628 |
| 1-4 family residential loans | $81,922 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $157,179 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $13,108 |
| Credit card loans | $48 |
| Related Plans | $8,711 |
| Consumer Auto Loans | $562 |
| Other loans to individuals | $3,787 |
| All other loans & leases | $36,561 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $89 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $7,908 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Minnesota Bank & Trust had $463,950,000 of loans outstanding in 2018. $262,684,000 of loans were in real estate loans. $35,843,000 of loans were in development loans. $13,628,000 of loans were in multifamily mortgage loans. $81,922,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $48,000 of loans were in credit card loans. $562,000 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 | 117 | $39,740 | $339,658 |
| Nonfarm, nonresidential loans - <$100k | 15 | $663 | $44,200 |
| Nonfarm, nonresidential loans - $100-250k | 23 | $3,474 | $151,043 |
| Nonfarm, nonresidential loans - $250k-1MM | 79 | $35,603 | $450,671 |
| Commercial & Industrial, US addressed loans - <$1MM | 674 | $66,984 | $99,383 |
| Commercial & Industrial, US addressed loans - <$100k | 329 | $6,987 | $21,237 |
| Commercial & Industrial, US addressed loans - $100-250k | 164 | $16,589 | $101,152 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 181 | $43,408 | $239,823 |