Minnesota Bank & Trust Mortgage Rates, Fees & Info

Edina, MN

LEI: 549300H8LK0AWIAODP34

Tax ID: 42-1757950

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Minnesota Bank & Trust is a smaller bank specializing in Home Purchase loans. Minnesota Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Miami, Tampa, and Cape Coral among others. We have data for 4 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 an above 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.

    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

    34

    Origination Dollar Volume (All Markets)

    $52,520,000

    Employee count

    37

    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) 30 $45,880,000 $1,529,333 $5,641 4.94%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $3,375,000 $3,375,000 $0 3.25%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $2,280,000 $1,140,000 $0 3.43%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $985,000 $985,000 $13,710 3.00%
    Minnesota Bank & Trust's top markets include Minneapolis, Miami, Tampa, and Cape Coral among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $52,520,000 $1,544,706 $6,314 4.74%

    For 2020, Minnesota Bank & Trust's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 24 $46,970,000 $1,957,083 $8,255 4.82%
    Refi 7 $4,995,000 $713,571 $3,664 4.45%
    Home Improvement 1 $105,000 $105,000 $0 4.75%
    Other 1 $45,000 $45,000 $253 5.50%
    Cash Out Refi 1 $405,000 $405,000 $6,733 4.13%

    For 2020, Minnesota Bank & Trust's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 14 $2,120,000 $151,429 $3,096 5.73%
    30 Year 7 $5,395,000 $770,714 $9,779 3.43%
    10 Year 4 $1,250,000 $312,500 $345 4.77%
    5 Year 4 $36,320,000 $9,080,000 $0 4.23%
    Other 4 $7,360,000 $1,840,000 $0 3.54%
    15 Year 1 $75,000 $75,000 $428 6.74%

    For 2020, Minnesota Bank & Trust's most frequently cited loan duration was 1 Year, with 14 originations. The 2nd most popular length was 30 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $5k+ 5 $4,275,000 $855,000
    $<1k 3 $185,000 $61,667
    $1k-2k 2 $660,000 $330,000
    $4k-5k 2 $1,120,000 $560,000

    Minnesota Bank & Trust's average total fees were $9,779, while their most frequently occuring range of origination fees (closing costs) were in the $5k+ bucket, with 5 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 15 $2,165,000 $144,333
    4-5% 8 $39,170,000 $4,896,250
    3-4% 7 $8,825,000 $1,260,714
    2.5-3% 3 $2,285,000 $761,667
    6-7% 1 $75,000 $75,000

    During 2020, Minnesota Bank & Trust's average interest rate for loans was 3.43%, while their most frequently originated rate bucket for loans was 5-6%, with 15 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 9 $645,000 $71,667 $373 5.54%
    $100k-200k 8 $1,050,000 $131,250 $0 5.51%
    $1MM+ 6 $44,270,000 $7,378,333 $0 3.74%
    $600k-1MM 5 $4,405,000 $881,000 $10,305 3.38%
    $200k-400k 4 $1,160,000 $290,000 $3,096 5.19%
    $400k-600k 2 $990,000 $495,000 $8,465 3.56%

    2020 saw Minnesota Bank & Trust place emphasis on $100,000 or less loans with 9 originations, totaling $645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 6 $4,080,000 $680,000 $8,877 3.89%
    $100k-150k 2 $330,000 $165,000 $1,422 5.12%
    $150k-250k 2 $1,030,000 $515,000 $4,571 4.38%
    $50k-75k 2 $510,000 $255,000 $6,733 4.44%
    $50k or less 1 $395,000 $395,000 $3,786 5.75%

    Minnesota Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 6 originations. The second most popular income band? $100k-150k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 3 $835,000 $278,333 $3,056 5.00%
    30-36% 2 $850,000 $425,000 $6,302 4.25%
    >60% 2 $800,000 $400,000 $5,259 4.94%
    <20% 2 $1,910,000 $955,000 $12,010 3.13%
    37% 1 $795,000 $795,000 $10,127 4.63%
    42% 1 $65,000 $65,000 $438 4.74%
    50-60% 1 $985,000 $985,000 $8,890 3.25%

    Minnesota Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 30-36%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 20 $42,800,000 $2,140,000 $0 5.05%
    Not provided 9 $7,125,000 $791,667 $5,546 4.55%
    White 5 $2,595,000 $519,000 $7,850 3.85%

    Approval Rates

    Total approvals of all applications
    100.00%

    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 origination
    94.12%

    Minnesota Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 34 $52,520,000 $1,544,706

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $39,190,000 $9,797,500
    Single Family (1-4 Units):Site-Built 30 $13,330,000 $444,333

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $470,000 $235,000 $3,786 4.95%
    40-60% 7 $4,265,000 $609,286 $2,407 5.21%
    60-80% 15 $40,875,000 $2,725,000 $9,764 4.91%
    80-100% 4 $2,740,000 $685,000 $9,799 3.31%
    Under 20% 5 $2,465,000 $493,000 $373 4.77%

    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 $216,103
    Minnesota Bank & Trust 9800 Bren Road East, Suite 200 Minnetonka, MN 55343 Full Service B&M $604,096

    For 2020, Minnesota Bank & Trust had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,972
    Net interest income $29,877
    Total noninterest income $4,760
    Gross Fiduciary activities income $1,187
    Service charges on deposit accounts $1,087
    Trading account gains and fees $0
    Additional Noninterest Income $2,486
    Pre-tax net operating income $15,349
    Securities gains (or losses, -) $632
    Income before extraordinary items $12,330
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,330
    Minority interest net income $0
    Net income $12,330
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,830

    Minnesota Bank & Trust's gross interest income from loans was $32,972,000.
    Minnesota Bank & Trust's net interest income from loans was $29,877,000.
    Minnesota Bank & Trust's fee based income from loans was $1,087,000.
    Minnesota Bank & Trust's net income from loans was $12,330,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,095
    Provision for credit losses $1,349
    Total noninterest expense $17,939
    Salaries and employee benefits $5,765
    Premises and equipment expense $1,267
    Additional noninterest expense $10,907
    Applicable income taxes $3,651
    Net charge-offs $4,260
    Cash dividends $2,500

    Minnesota Bank & Trust's interest expense for loans was $3,095,000.
    Minnesota Bank & Trust's payroll and benefits expense were $5,765,000.
    Minnesota Bank & Trust's property, plant and equipment expenses $1,267,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    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 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 $789,555
    Deposits held in domestic offices $789,555
    Deposits by Individuals, partnerships, and corporations $786,482
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,073
    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 $245,766
    Demand deposits $207,117
    Nontransaction accounts $543,789
    Money market deposit accounts (MMDAs) $483,297
    Other savings deposits (excluding MMDAs) $17,849
    Total time deposits $42,643
    Total time and savings deposits $582,438
    Noninterest-bearing deposits $274,677
    Interest-bearing deposits $514,878
    Retail deposits $777,533
    IRAs and Keogh plan accounts $2,258
    Brokered deposits $5,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,000,168
    Cash & Balances due from depository institutions $10,429
    Interest-bearing balances $4,908
    Total securities $326,278
    Federal funds sold & reverse repurchase $0
    Net loans and leases $595,669
    Loan and leases loss allowance $5,898
    Trading account assets $6,299
    Bank premises and fixed assets $1,022
    Other real estate owned $1,815
    Goodwill and other intangibles $38,109
    All other assets $20,547

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,000,168
    Total Liabilities $876,051
    Total deposits $789,555
    Interest-bearing deposits $514,878
    Deposits held in domestic offices $789,555
    % insured (estimated) $38
    Federal funds purchased and repurchase agreements $12,418
    Trading liabilities $6,299
    Other borrowed funds $62,406
    Subordinated debt $0
    All other liabilities $5,373

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $595,669
    Loan and leases loss allowance $5,898
    Total loans and leases (domestic) $601,567
    All real estate loans $302,080
    Real estate loans in domestic offices $302,080
    Construction and development loans $29,489
    Residential 1-4 family construction $3,579
    Other construction, all land development and other land $25,910
    Loans secured by nonfarm nonresidential properties $204,915
    Nonfarm nonresidential secured by owner-occupied properties $83,062
    Commercial real estate & other non-farm, non-residential $121,853
    Multifamily residential real estate $8,031
    1-4 family residential loans $59,645
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $266,129
    To non-U.S. addressees $0
    Loans to individuals $16,906
    Credit card loans $89
    Related Plans $12,500
    Consumer Auto Loans $363
    Other loans to individuals $3,954
    All other loans & leases $18,930
    Loans to foreign governments and official institutions $0
    Other loans $84
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,087
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $20
    Non 1-4 family restructured loans & leases $20
    Total loans and leases (foreign) $0

    Minnesota Bank & Trust had $595,669,000 of loans outstanding in 2020. $302,080,000 of loans were in real estate loans. $29,489,000 of loans were in development loans. $8,031,000 of loans were in multifamily mortgage loans. $59,645,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $89,000 of loans were in credit card loans. $363,000 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 98 $33,551 $342,357
    Nonfarm, nonresidential loans - <$100k 7 $223 $31,857
    Nonfarm, nonresidential loans - $100-250k 21 $2,604 $124,000
    Nonfarm, nonresidential loans - $250k-1MM 70 $30,724 $438,914
    Commercial & Industrial, US addressed loans - <$1MM 739 $104,591 $141,530
    Commercial & Industrial, US addressed loans - <$100k 275 $7,652 $27,825
    Commercial & Industrial, US addressed loans - $100-250k 200 $20,308 $101,540
    Commercial & Industrial, US addressed loans - $250k-1MM 264 $76,631 $290,269