Minnesota Bank & Trust Mortgage Rates, Fees & Info

Edina, MN

LEI: 549300H8LK0AWIAODP34

Tax ID: 42-1757950

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 Refi and Home Purchase loans. Minnesota Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Orlando, Riverside, and Faribault among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    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

    47

    Origination Dollar Volume (All Markets)

    $27,745,000

    Employee count

    39

    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) 42 $25,890,000 $616,429 $851 2.99%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $5,609 2.50%
    Outside of Metro Areas 2 $540,000 $270,000 $433 2.63%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $225,000 $225,000 $0 4.25%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $25,000 $25,000 $278 10.50%
    Minnesota Bank & Trust's top markets include Minneapolis, Orlando, Riverside, and Faribault among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 47 $27,745,000 $590,319 $944 3.15%

    For 2021, Minnesota Bank & Trust's most frequently originated type of loan was Conventional, with 47 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 28 $8,880,000 $317,143 $1,088 3.19%
    Home Purchase 7 $16,855,000 $2,407,857 $2,853 3.93%
    Home Improvement 7 $925,000 $132,143 $492 2.50%
    Other 5 $1,085,000 $217,000 $534 2.73%

    For 2021, Minnesota Bank & Trust's most frequently cited loan purpose was Refi, with 28 originations. The 2nd most popular reason was Home Purchase, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 33 $9,415,000 $285,303 $1,001 2.88%
    10 Year 5 $15,015,000 $3,003,000 $336 3.31%
    5 Year 4 $460,000 $115,000 $288 3.88%
    Other 3 $1,695,000 $565,000 $0 4.07%
    3 Year 2 $1,160,000 $580,000 $0 4.38%

    For 2021, Minnesota Bank & Trust's most frequently cited loan duration was 15 Year, with 33 originations. The 2nd most popular length was 10 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 36 $9,690,000 $269,167

    Minnesota Bank & Trust's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 36 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 29 $8,555,000 $295,000
    4-5% 8 $1,260,000 $157,500
    3-4% 5 $16,995,000 $3,399,000
    2.5-3% 4 $910,000 $227,500
    Over 8% 1 $25,000 $25,000

    During 2021, Minnesota Bank & Trust's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 29 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 15 $4,125,000 $275,000 $897 2.84%
    $100k-200k 12 $1,620,000 $135,000 $205 3.46%
    $100,000 or less 9 $495,000 $55,000 $265 3.72%
    $400k-600k 5 $2,305,000 $461,000 $1,696 2.50%
    $1MM+ 4 $17,780,000 $4,445,000 $5,609 3.25%
    $600k-1MM 2 $1,420,000 $710,000 $2,345 2.50%

    2021 saw Minnesota Bank & Trust place emphasis on $200k-400k loans with 15 originations, totaling $4,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 15 $4,745,000 $316,333 $955 2.72%
    $150k-250k 9 $2,735,000 $303,889 $1,179 2.64%
    $100k-150k 6 $1,200,000 $200,000 $927 3.83%
    $50k-75k 3 $505,000 $168,333 $523 3.08%
    $75k-100k 2 $140,000 $70,000 $298 2.50%
    $50k or less 1 $85,000 $85,000 $359 2.50%

    Minnesota Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 15 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 10 $2,120,000 $212,000 $528 2.61%
    30-36% 8 $1,980,000 $247,500 $767 2.78%
    20-30% 6 $2,410,000 $401,667 $1,585 2.71%
    41% 3 $1,315,000 $438,333 $1,789 2.50%
    >60% 2 $660,000 $330,000 $1,205 2.50%
    39% 1 $55,000 $55,000 $308 2.50%
    36% 1 $125,000 $125,000 $288 2.50%
    42% 1 $345,000 $345,000 $1,370 2.50%
    37% 1 $15,000 $15,000 $288 2.50%
    49% 1 $25,000 $25,000 $278 10.50%
    50-60% 1 $385,000 $385,000 $2,077 2.50%
    43% 1 $255,000 $255,000 $683 2.50%

    Minnesota Bank & Trust lent most frequently to those with DTI ratios of <20%, with 10 originations. The next most common DTI ratio? 30-36%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 10 $17,940,000 $1,794,000 $0 4.12%
    Not provided 24 $7,700,000 $320,833 $1,178 2.69%
    White 11 $1,965,000 $178,636 $574 3.26%
    Asian 2 $140,000 $70,000 $298 3.13%

    Approval Rates

    Total approvals of all applications
    81.16%

    Minnesota Bank & Trust has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.85%

    Minnesota Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 47 $27,745,000 $590,319

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    47 $27,745,000 $590,319

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $2,180,000 $218,000 $517 3.03%
    40-60% 9 $3,275,000 $363,889 $1,058 3.09%
    60-80% 10 $5,060,000 $506,000 $2,439 3.23%
    80-100% 3 $1,215,000 $405,000 $1,410 2.50%
    Under 20% 15 $16,015,000 $1,067,667 $358 3.35%

    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 $225,956
    Minnesota Bank & Trust 9800 Bren Road East, Suite 200 Minnetonka, MN 55343 Full Service B&M $536,593

    For 2021, Minnesota Bank & Trust had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,553
    Net interest income $29,446
    Total noninterest income $5,110
    Gross Fiduciary activities income $1,489
    Service charges on deposit accounts $1,046
    Trading account gains and fees $0
    Additional Noninterest Income $2,575
    Pre-tax net operating income $19,239
    Securities gains (or losses, -) $315
    Income before extraordinary items $15,122
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,122
    Minority interest net income $0
    Net income $15,122
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,873

    Minnesota Bank & Trust's gross interest income from loans was $31,553,000.
    Minnesota Bank & Trust's net interest income from loans was $29,446,000.
    Minnesota Bank & Trust's fee based income from loans was $1,046,000.
    Minnesota Bank & Trust's net income from loans was $15,122,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,107
    Provision for credit losses $-2,648
    Total noninterest expense $17,965
    Salaries and employee benefits $5,153
    Premises and equipment expense $1,282
    Additional noninterest expense $11,530
    Applicable income taxes $4,432
    Net charge-offs $-1,369
    Cash dividends $12,800

    Minnesota Bank & Trust's interest expense for loans was $2,107,000.
    Minnesota Bank & Trust's payroll and benefits expense were $5,153,000.
    Minnesota Bank & Trust's property, plant and equipment expenses $1,282,000.

    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 1.0%
    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 $719,489
    Deposits held in domestic offices $719,489
    Deposits by Individuals, partnerships, and corporations $715,846
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,643
    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 $268,910
    Demand deposits $224,295
    Nontransaction accounts $450,579
    Money market deposit accounts (MMDAs) $413,939
    Other savings deposits (excluding MMDAs) $11,686
    Total time deposits $24,954
    Total time and savings deposits $495,194
    Noninterest-bearing deposits $222,826
    Interest-bearing deposits $496,663
    Retail deposits $711,318
    IRAs and Keogh plan accounts $1,555
    Brokered deposits $10,002
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $865,825
    Cash & Balances due from depository institutions $8,081
    Interest-bearing balances $4,603
    Total securities $319,931
    Federal funds sold & reverse repurchase $0
    Net loans and leases $474,434
    Loan and leases loss allowance $4,777
    Trading account assets $3,316
    Bank premises and fixed assets $3,032
    Other real estate owned $0
    Goodwill and other intangibles $37,211
    All other assets $19,820

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $865,825
    Total Liabilities $742,458
    Total deposits $719,489
    Interest-bearing deposits $496,663
    Deposits held in domestic offices $719,489
    % insured (estimated) $38
    Federal funds purchased and repurchase agreements $9,810
    Trading liabilities $3,316
    Other borrowed funds $4,567
    Subordinated debt $0
    All other liabilities $5,276

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $474,434
    Loan and leases loss allowance $4,777
    Total loans and leases (domestic) $479,211
    All real estate loans $313,365
    Real estate loans in domestic offices $313,365
    Construction and development loans $45,517
    Residential 1-4 family construction $2,041
    Other construction, all land development and other land $43,476
    Loans secured by nonfarm nonresidential properties $207,686
    Nonfarm nonresidential secured by owner-occupied properties $92,389
    Commercial real estate & other non-farm, non-residential $115,297
    Multifamily residential real estate $7,622
    1-4 family residential loans $50,883
    Farmland loans $1,657
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $141,354
    To non-U.S. addressees $0
    Loans to individuals $12,945
    Credit card loans $84
    Related Plans $9,373
    Consumer Auto Loans $187
    Other loans to individuals $3,301
    All other loans & leases $11,547
    Loans to foreign governments and official institutions $0
    Other loans $37
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,042
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $16
    Non 1-4 family restructured loans & leases $16
    Total loans and leases (foreign) $0

    Minnesota Bank & Trust had $474,434,000 of loans outstanding in 2021. $313,365,000 of loans were in real estate loans. $45,517,000 of loans were in development loans. $7,622,000 of loans were in multifamily mortgage loans. $50,883,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $84,000 of loans were in credit card loans. $187,000 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 97 $33,091 $341,144
    Nonfarm, nonresidential loans - <$100k 5 $115 $23,000
    Nonfarm, nonresidential loans - $100-250k 23 $3,278 $142,522
    Nonfarm, nonresidential loans - $250k-1MM 69 $29,698 $430,406
    Commercial & Industrial, US addressed loans - <$1MM 420 $44,909 $106,926
    Commercial & Industrial, US addressed loans - <$100k 171 $3,303 $19,316
    Commercial & Industrial, US addressed loans - $100-250k 105 $8,630 $82,190
    Commercial & Industrial, US addressed loans - $250k-1MM 144 $32,976 $229,000
    Farmland loans - <$1MM 1 $246 $246,000
    Farmland loans - $250k-1MM 1 $246 $246,000