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 two markets are Minneapolis and Duluth .Minnesota Bank & Trust 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
23Origination Dollar Volume (All Markets)
$21,835,000Employee count
45Top 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) | 20 | $21,520,000 | $1,076,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $290,000 | $145,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 23 | $21,835,000 | $949,348 | $0 | 0.00% |
For 2019, Minnesota Bank & Trust's most frequently originated type of loan was Conventional, with 23 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 11 | $5,605,000 | $509,545 | $0 | 0.00% |
| Home Purchase | 10 | $15,940,000 | $1,594,000 | $0 | 0.00% |
| Other | 2 | $290,000 | $145,000 | $0 | 0.00% |
For 2019, Minnesota Bank & Trust's most frequently cited loan purpose was Refi, with 11 originations. The 2nd most popular reason was Home Purchase, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 23 | $21,835,000 | $949,348 | $0 | 0.00% |
For 2019, Minnesota Bank & Trust's most frequently cited loan duration was Other, with 23 originations.
Loan Sizing
2019 saw Minnesota Bank & Trust place emphasis on $100k-200k loans with 7 originations, totaling $995,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 6 | $4,400,000 | $733,333 | $0 | 0.00% |
| $150k-250k | 5 | $815,000 | $163,000 | $0 | 0.00% |
| $50k-75k | 1 | $85,000 | $85,000 | $0 | 0.00% |
Minnesota Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 23 | $21,835,000 | $949,348 | $0 | 0.00% |
Minnesota Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 23 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.38%
Minnesota Bank & Trust has a below average approval rate.
Pick Rate
Approvals leading to origination73.91%
Minnesota Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 23 | $21,835,000 | $949,348 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $13,125,000 | $4,375,000 |
| Single Family (1-4 Units):Site-Built | 20 | $8,710,000 | $435,500 |
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 | $171,414 |
| Minnesota Bank & Trust | 9800 Bren Road East, Suite 200 Minnetonka, MN 55343 | Full Service B&M | $343,896 |
For 2019, Minnesota Bank & Trust had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $31,741 |
| Net interest income | $26,538 |
| Total noninterest income | $4,227 |
| Gross Fiduciary activities income | $1,021 |
| Service charges on deposit accounts | $1,032 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,174 |
| Pre-tax net operating income | $11,193 |
| Securities gains (or losses, -) | $311 |
| Income before extraordinary items | $8,778 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,778 |
| Minority interest net income | $0 |
| Net income | $8,778 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,532 |
Minnesota Bank & Trust's gross interest income from loans was $31,741,000.
Minnesota Bank & Trust's net interest income from loans was $26,538,000.
Minnesota Bank & Trust's fee based income from loans was $1,032,000.
Minnesota Bank & Trust's net income from loans was $8,778,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,203 |
| Provision for credit losses | $1,214 |
| Total noninterest expense | $18,358 |
| Salaries and employee benefits | $7,395 |
| Premises and equipment expense | $1,382 |
| Additional noninterest expense | $9,581 |
| Applicable income taxes | $2,726 |
| Net charge-offs | $409 |
| Cash dividends | $3,000 |
Minnesota Bank & Trust's interest expense for loans was $5,203,000.
Minnesota Bank & Trust's payroll and benefits expense were $7,395,000.
Minnesota Bank & Trust's property, plant and equipment expenses $1,382,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| 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 | 1.0% |
| Commercial & industrial loans | 4.0% |
| 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 | $574,369 |
| Deposits held in domestic offices | $574,369 |
| Deposits by Individuals, partnerships, and corporations | $570,246 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $4,123 |
| 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 | $159,233 |
| Demand deposits | $128,624 |
| Nontransaction accounts | $415,136 |
| Money market deposit accounts (MMDAs) | $355,583 |
| Other savings deposits (excluding MMDAs) | $3,036 |
| Total time deposits | $56,517 |
| Total time and savings deposits | $445,745 |
| Noninterest-bearing deposits | $189,887 |
| Interest-bearing deposits | $384,482 |
| Retail deposits | $559,899 |
| IRAs and Keogh plan accounts | $2,665 |
| Brokered deposits | $801 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $718,807 |
| Cash & Balances due from depository institutions | $24,590 |
| Interest-bearing balances | $4,899 |
| Total securities | $165,752 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $472,271 |
| Loan and leases loss allowance | $6,132 |
| Trading account assets | $3,018 |
| Bank premises and fixed assets | $1,555 |
| Other real estate owned | $361 |
| Goodwill and other intangibles | $39,137 |
| All other assets | $12,123 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $718,807 |
| Total Liabilities | $611,353 |
| Total deposits | $574,369 |
| Interest-bearing deposits | $384,482 |
| Deposits held in domestic offices | $574,369 |
| % insured (estimated) | $50 |
| Federal funds purchased and repurchase agreements | $28,692 |
| Trading liabilities | $3,018 |
| Other borrowed funds | $2,872 |
| Subordinated debt | $0 |
| All other liabilities | $2,402 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $472,271 |
| Loan and leases loss allowance | $6,132 |
| Total loans and leases (domestic) | $478,403 |
| All real estate loans | $294,134 |
| Real estate loans in domestic offices | $294,134 |
| Construction and development loans | $57,941 |
| Residential 1-4 family construction | $4,765 |
| Other construction, all land development and other land | $53,176 |
| Loans secured by nonfarm nonresidential properties | $155,754 |
| Nonfarm nonresidential secured by owner-occupied properties | $71,416 |
| Commercial real estate & other non-farm, non-residential | $84,338 |
| Multifamily residential real estate | $13,125 |
| 1-4 family residential loans | $67,314 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $141,250 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $16,963 |
| Credit card loans | $66 |
| Related Plans | $11,852 |
| Consumer Auto Loans | $440 |
| Other loans to individuals | $4,605 |
| All other loans & leases | $26,692 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $96 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $4,868 |
| 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 $472,271,000 of loans outstanding in 2019. $294,134,000 of loans were in real estate loans. $57,941,000 of loans were in development loans. $13,125,000 of loans were in multifamily mortgage loans. $67,314,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $66,000 of loans were in credit card loans. $440,000 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 | 110 | $37,222 | $338,382 |
| Nonfarm, nonresidential loans - <$100k | 13 | $479 | $36,846 |
| Nonfarm, nonresidential loans - $100-250k | 21 | $2,833 | $134,905 |
| Nonfarm, nonresidential loans - $250k-1MM | 76 | $33,910 | $446,184 |
| Commercial & Industrial, US addressed loans - <$1MM | 553 | $58,871 | $106,458 |
| Commercial & Industrial, US addressed loans - <$100k | 220 | $5,528 | $25,127 |
| Commercial & Industrial, US addressed loans - $100-250k | 155 | $14,313 | $92,342 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 178 | $39,030 | $219,270 |