Sunrise Banks Mortgage Rates, Fees & Info

St. Paul, MN

LEI: 549300HWDY3N8UVJO697

Tax ID: 41-0852727

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

Jump to:

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 (Closing Costs)

    • Bank Data

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

    • Review & 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 (well, only) market is Minneapolis.

    Sunrise Banks 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    329

    Origination Dollar Volume (All Markets)

    $62,365,000

    Employee count

    253

    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) 329 $62,365,000 $189,559 $0 0.00%
    Sunrise Banks's top markets include and Minneapolis among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 329 $62,365,000 $189,559 $0 0.00%

    For 2019, Sunrise Banks's most frequently originated type of loan was Conventional, with 329 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 220 $41,210,000 $187,318 $0 0.00%
    Refi 93 $17,905,000 $192,527 $0 0.00%
    Cash Out Refi 13 $2,905,000 $223,462 $0 0.00%
    Home Improvement 3 $345,000 $115,000 $0 0.00%

    For 2019, Sunrise Banks's most frequently cited loan purpose was Home Purchase, with 220 originations. The 2nd most popular reason was Refi, with 93 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 329 $62,365,000 $189,559 $0 0.00%

    For 2019, Sunrise Banks's most frequently cited loan duration was Other, with 329 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 146 $22,340,000 $153,014 $0 0.00%
    $200k-400k 100 $25,600,000 $256,000 $0 0.00%
    $100,000 or less 65 $4,165,000 $64,077 $0 0.00%
    $400k-600k 10 $4,770,000 $477,000 $0 0.00%
    $600k-1MM 8 $5,490,000 $686,250 $0 0.00%

    2019 saw Sunrise Banks place emphasis on $100k-200k loans with 146 originations, totaling $22,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 55 $10,345,000 $188,091 $0 0.00%
    $50k or less 51 $7,445,000 $145,980 $0 0.00%
    $75k-100k 26 $5,870,000 $225,769 $0 0.00%
    $100k-150k 25 $6,235,000 $249,400 $0 0.00%
    $150k-250k 11 $2,755,000 $250,455 $0 0.00%
    $250k+ 8 $2,200,000 $275,000 $0 0.00%

    Sunrise Banks lent most frequently to those with incomes in the $50k-75k range, with 55 originations. The second most popular income band? $50k or less, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 329 $62,365,000 $189,559 $0 0.00%

    Sunrise Banks lent most frequently to those with DTI ratios of Exempt%, with 329 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 157 $30,915,000 $196,911 $0 0.00%
    Not applicable 149 $26,465,000 $177,617 $0 0.00%
    Asian 12 $3,040,000 $253,333 $0 0.00%
    Black 6 $800,000 $133,333 $0 0.00%
    Not provided 2 $590,000 $295,000 $0 0.00%
    Other Asian 1 $215,000 $215,000 $0 0.00%
    American Indian 1 $205,000 $205,000 $0 0.00%
    Native Hawaiian or Islander 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.23%

    Sunrise Banks has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.50%

    Sunrise Banks has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 329 $62,365,000 $189,559

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $6,390,000 $456,429
    Single Family (1-4 Units):Site-Built 315 $55,975,000 $177,698

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SYNERGY ONE LENDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 37.5%
    SYNERGY ONE LENDING, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    SYNERGY ONE LENDING, INC. FHA mortgage Closing on a mortgage 3 37.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sunrise Banks, National Association 1351 Arcade Street St. Paul, MN 55106 Full Service B&M $12,957
    Sunrise Banks, National Association 200 University Avenue West Saint Paul, MN 55103 Full Service B&M $650,000
    Sunrise Banks, National Association 2100 Blaisdell Avenue North Minneapolis, MN 55404 Full Service B&M $60,599
    Sunrise Banks, National Association 2171 University Avenue Saint Paul, MN 55114 Full Service B&M $24,379
    Sunrise Banks, National Association 2300 Como Avenue Saint Paul, MN 55108 Full Service B&M $173,147
    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 $65,429

    For 2019, Sunrise Banks had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $50,909
    Net interest income $50,122
    Total noninterest income $32,063
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,967
    Trading account gains and fees $0
    Additional Noninterest Income $30,096
    Pre-tax net operating income $11,875
    Securities gains (or losses, -) $8
    Income before extraordinary items $11,543
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,543
    Minority interest net income $0
    Net income $11,543
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,535

    Sunrise Banks's gross interest income from loans was $50,909,000.
    Sunrise Banks's net interest income from loans was $50,122,000.
    Sunrise Banks's fee based income from loans was $1,967,000.
    Sunrise Banks's net income from loans was $11,543,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $787
    Provision for credit losses $2,033
    Total noninterest expense $68,277
    Salaries and employee benefits $26,246
    Premises and equipment expense $2,999
    Additional noninterest expense $39,032
    Applicable income taxes $340
    Net charge-offs $2,787
    Cash dividends $9,748

    Sunrise Banks's interest expense for loans was $787,000.
    Sunrise Banks's payroll and benefits expense were $26,246,000.
    Sunrise Banks's property, plant and equipment expenses $2,999,000.

    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 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,072,634
    Deposits held in domestic offices $1,072,634
    Deposits by Individuals, partnerships, and corporations $1,052,880
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $19,754
    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 $129,709
    Demand deposits $103,671
    Nontransaction accounts $942,925
    Money market deposit accounts (MMDAs) $14,469
    Other savings deposits (excluding MMDAs) $842,446
    Total time deposits $86,010
    Total time and savings deposits $968,963
    Noninterest-bearing deposits $772,828
    Interest-bearing deposits $299,806
    Retail deposits $518,664
    IRAs and Keogh plan accounts $4,940
    Brokered deposits $545,827
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,179,926
    Cash & Balances due from depository institutions $149,676
    Interest-bearing balances $134,838
    Total securities $149,649
    Federal funds sold & reverse repurchase $323
    Net loans and leases $806,733
    Loan and leases loss allowance $10,694
    Trading account assets $0
    Bank premises and fixed assets $27,494
    Other real estate owned $0
    Goodwill and other intangibles $119
    All other assets $45,932

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,179,926
    Total Liabilities $1,077,949
    Total deposits $1,072,634
    Interest-bearing deposits $299,806
    Deposits held in domestic offices $1,072,634
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $1,225
    All other liabilities $4,090

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $806,733
    Loan and leases loss allowance $10,694
    Total loans and leases (domestic) $817,427
    All real estate loans $660,925
    Real estate loans in domestic offices $660,925
    Construction and development loans $39,351
    Residential 1-4 family construction $0
    Other construction, all land development and other land $39,351
    Loans secured by nonfarm nonresidential properties $380,944
    Nonfarm nonresidential secured by owner-occupied properties $160,670
    Commercial real estate & other non-farm, non-residential $220,274
    Multifamily residential real estate $98,249
    1-4 family residential loans $142,381
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $79,993
    To non-U.S. addressees $0
    Loans to individuals $46,968
    Credit card loans $0
    Related Plans $665
    Consumer Auto Loans $2,030
    Other loans to individuals $44,273
    All other loans & leases $29,541
    Loans to foreign governments and official institutions $0
    Other loans $3,697
    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 $806,733,000 of loans outstanding in 2019. $660,925,000 of loans were in real estate loans. $39,351,000 of loans were in development loans. $98,249,000 of loans were in multifamily mortgage loans. $142,381,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,030,000 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 339 $106,023 $312,752
    Nonfarm, nonresidential loans - <$100k 24 $1,483 $61,792
    Nonfarm, nonresidential loans - $100-250k 99 $14,783 $149,323
    Nonfarm, nonresidential loans - $250k-1MM 216 $89,757 $415,542
    Commercial & Industrial, US addressed loans - <$1MM 451 $53,942 $119,605
    Commercial & Industrial, US addressed loans - <$100k 222 $6,575 $29,617
    Commercial & Industrial, US addressed loans - $100-250k 125 $12,689 $101,512
    Commercial & Industrial, US addressed loans - $250k-1MM 104 $34,678 $333,442