Sunrise Banks Mortgage Rates, Fees & Info
St. Paul, MN
LEI: 549300HWDY3N8UVJO697
Tax ID: 41-0852727
Jump to:
Mortgage Data
Bank Data
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
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.
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 |