Sunrise Banks Mortgage Rates, Fees & Info

St. Paul, MN

LEI: 549300HWDY3N8UVJO697

Tax ID: 41-0852727

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
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Overview

    Sunrise Banks is a smaller bank specializing in Home Purchase and Refi loans. Sunrise Banks has a high proportion of conventional loans. Their top markets include Minneapolis, Grand Rapids, Duluth, Faribault, and St. Cloud among others. Sunrise Banks has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


    Originations

    440

    Origination Dollar Volume (All Markets)

    $94,550,000

    Employee count

    280

    Top Markets

    Market Originations Total Value Average Loan Average Fees Average Rate
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 435 $93,565,000 $215,092 $0 0.00%
    Grand Rapids, MN (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    Outside of Metro Areas 1 $205,000 $205,000 $0 0.00%
    Faribault-Northfield, MN (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%

    Sunrise Banks's top markets include Minneapolis, Grand Rapids, Duluth, Faribault, and St. Cloud among others.

    Product Mix

    Loan Type Originations Total Value Average Loan Average Fees Average Rate
    Conventional 440 $94,550,000 $214,886 $0 0.00%

    For the 2021 period, Sunrise Banks's most frequently originated loan type of loans were Conventional, with 440 originations.

    Loan Reason

    Loan Reason Originations Total Value Average Loan Average Fees Average Rate
    Home Purchase 237 $49,255,000 $207,827 $0 0.00%
    Refi 154 $33,070,000 $214,740 $0 0.00%
    Cash Out Refi 45 $11,055,000 $245,667 $0 0.00%
    Home Improvement 3 $965,000 $321,667 $0 0.00%
    Other 1 $205,000 $205,000 $0 0.00%

    For the 2021, Sunrise Banks's most frequently cited loan purpose of loans were Home Purchase, with 237 originations. The 2nd most popular reason of loans were Refi, with 154 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 440 $94,550,000 $214,886 $0 0.00%

    For the 2021, Sunrise Banks's most frequently cited loan length of loans were Other, with 440 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 183 $49,845,000 $272,377 $0 0.00%
    $100k-200k 180 $25,910,000 $143,944 $0 0.00%
    $100,000 or less 51 $3,935,000 $77,157 $0 0.00%
    $400k-600k 20 $9,400,000 $470,000 $0 0.00%
    $600k-1MM 4 $2,900,000 $725,000 $0 0.00%
    $1MM+ 2 $2,560,000 $1,280,000 $0 0.00%

    2021 saw Sunrise Banks place emphasis on $200k-400k loans with 183 originations, totaling $49,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 82 $17,680,000 $215,610 $0 0.00%
    $75k-100k 51 $12,875,000 $252,451 $0 0.00%
    $100k-150k 48 $12,980,000 $270,417 $0 0.00%
    $50k or less 37 $5,845,000 $157,973 $0 0.00%
    $150k-250k 25 $7,305,000 $292,200 $0 0.00%
    $250k+ 6 $2,090,000 $348,333 $0 0.00%

    Sunrise Banks lent most frequently to those with incomes in the $50k-75k range, with 82 originations. The second most popular income band? $75k-100k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 440 $94,550,000 $214,886 $0 0.00%

    Sunrise Banks lent most frequently to those with DTI ratios of Exempt%, with 440 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 191 $45,195,000 $236,623 $0 0.00%
    Not applicable 189 $35,515,000 $187,910 $0 0.00%
    Not provided 33 $7,225,000 $218,939 $0 0.00%
    Asian 18 $4,190,000 $232,778 $0 0.00%
    Black 6 $1,710,000 $285,000 $0 0.00%
    Asian Indian 1 $285,000 $285,000 $0 0.00%
    American Indian 1 $235,000 $235,000 $0 0.00%
    Other Pacific Islander 1 $195,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.31%

    Sunrise Banks has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.17%

    Sunrise Banks has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 440 $94,550,000 $214,886

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    440 $94,550,000 $214,886

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Synergy One Lending, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Synergy One Lending, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sunrise Banks, National Association 200 University Avenue West Saint Paul, MN 55103 Full Service B&M $822,307
    Sunrise Banks, National Association 2100 Blaisdell Avenue North Minneapolis, MN 55404 Full Service B&M $88,444
    Sunrise Banks, National Association 2300 Como Avenue Saint Paul, MN 55108 Full Service B&M $286,448
    Sunrise Banks, National Association 5105 South Crossing Place Sioux Falls, SD 57108 Limited, Administrative $0
    Sunrise Banks, National Association 525 Washington Avenue North Minneapolis, MN 55401 Full Service B&M $134,852

    For 2021, Sunrise Banks had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $58,560
    Net interest income $57,315
    Total noninterest income $50,422
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,390
    Trading account gains and fees $0
    Additional Noninterest Income $47,032
    Pre-tax net operating income $18,613
    Securities gains (or losses, -) $97
    Income before extraordinary items $18,565
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $18,565
    Minority interest net income $0
    Net income $18,565
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $18,468

    Sunrise Banks's gross interest income from loans was $58,560,000.
    Sunrise Banks's net interest income from loans was $57,315,000.
    Sunrise Banks's fee based income from loans was $3,390,000.
    Sunrise Banks's net income from loans was $18,565,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,245
    Provision for credit losses $3,102
    Total noninterest expense $86,022
    Salaries and employee benefits $31,483
    Premises and equipment expense $2,753
    Additional noninterest expense $51,786
    Applicable income taxes $145
    Net charge-offs $797
    Cash dividends $18,395

    Sunrise Banks's interest expense for loans was $1,245,000.
    Sunrise Banks's payroll and benefits expense were $31,483,000.
    Sunrise Banks's property, plant and equipment expenses $2,753,000.

    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 2.0%
    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 $1,533,773
    Deposits held in domestic offices $1,533,773
    Deposits by Individuals, partnerships, and corporations $1,471,424
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $62,349
    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 $214,591
    Demand deposits $168,527
    Nontransaction accounts $1,319,182
    Money market deposit accounts (MMDAs) $53,031
    Other savings deposits (excluding MMDAs) $1,058,234
    Total time deposits $207,917
    Total time and savings deposits $1,365,246
    Noninterest-bearing deposits $991,670
    Interest-bearing deposits $542,103
    Retail deposits $1,522,319
    IRAs and Keogh plan accounts $4,905
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,742,993
    Cash & Balances due from depository institutions $328,213
    Interest-bearing balances $295,706
    Total securities $244,391
    Federal funds sold & reverse repurchase $946
    Net loans and leases $1,091,512
    Loan and leases loss allowance $14,619
    Trading account assets $0
    Bank premises and fixed assets $24,258
    Other real estate owned $0
    Goodwill and other intangibles $66
    All other assets $53,607

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,742,993
    Total Liabilities $1,624,430
    Total deposits $1,533,773
    Interest-bearing deposits $542,103
    Deposits held in domestic offices $1,533,773
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $81,871
    Subordinated debt $1,225
    All other liabilities $7,561

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,091,512
    Loan and leases loss allowance $14,619
    Total loans and leases (domestic) $1,106,131
    All real estate loans $805,953
    Real estate loans in domestic offices $805,953
    Construction and development loans $83,486
    Residential 1-4 family construction $104
    Other construction, all land development and other land $83,382
    Loans secured by nonfarm nonresidential properties $437,334
    Nonfarm nonresidential secured by owner-occupied properties $191,420
    Commercial real estate & other non-farm, non-residential $245,914
    Multifamily residential real estate $115,175
    1-4 family residential loans $169,958
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $160,418
    To non-U.S. addressees $0
    Loans to individuals $107,021
    Credit card loans $0
    Related Plans $138
    Consumer Auto Loans $2,863
    Other loans to individuals $104,020
    All other loans & leases $32,739
    Loans to foreign governments and official institutions $0
    Other loans $6,197
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Sunrise Banks had $1,091,512,000 of loans outstanding in 2021. $805,953,000 of loans were in real estate loans. $83,486,000 of loans were in development loans. $115,175,000 of loans were in multifamily mortgage loans. $169,958,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,863,000 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 327 $109,580 $335,107
    Nonfarm, nonresidential loans - <$100k 16 $988 $61,750
    Nonfarm, nonresidential loans - $100-250k 82 $12,802 $156,122
    Nonfarm, nonresidential loans - $250k-1MM 229 $95,790 $418,297
    Commercial & Industrial, US addressed loans - <$1MM 1,177 $109,910 $93,381
    Commercial & Industrial, US addressed loans - <$100k 818 $17,470 $21,357
    Commercial & Industrial, US addressed loans - $100-250k 193 $25,542 $132,342
    Commercial & Industrial, US addressed loans - $250k-1MM 166 $66,898 $403,000