Sunrise Banks Mortgage Rates, Fees & Info

St. Paul, MN

LEI: 549300HWDY3N8UVJO697

Tax ID: 41-0852727

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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 (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 markets by origination volume include: Minneapolis, Faribault, Rochester, Grand Rapids, and Brainerd among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sunrise Banks has an above 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

    489

    Origination Dollar Volume (All Markets)

    $137,795,000

    Employee count

    262

    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) 477 $135,275,000 $283,595 $0 0.00%
    Outside of Metro Areas 5 $955,000 $191,000 $0 0.00%
    Faribault-Northfield, MN (FHA|USDA|VA) 2 $350,000 $175,000 $0 0.00%
    ROCHESTER, MN (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    Grand Rapids, MN (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
    Brainerd, MN (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    FARGO, ND-MN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Sunrise Banks's top markets include Minneapolis, Faribault, Rochester, Grand Rapids, and Brainerd among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 489 $137,795,000 $281,789 $0 0.00%

    For 2020, Sunrise Banks's most frequently originated type of loan was Conventional, with 489 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 215 $49,835,000 $231,791 $0 0.00%
    Refi 206 $68,510,000 $332,573 $0 0.00%
    Cash Out Refi 60 $14,640,000 $244,000 $0 0.00%
    Home Improvement 6 $4,540,000 $756,667 $0 0.00%
    Other 2 $270,000 $135,000 $0 0.00%

    For 2020, Sunrise Banks's most frequently cited loan purpose was Home Purchase, with 215 originations. The 2nd most popular reason was Refi, with 206 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 489 $137,795,000 $281,789 $0 0.00%

    For 2020, Sunrise Banks's most frequently cited loan duration was Other, with 489 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 201 $55,365,000 $275,448 $0 0.00%
    $100k-200k 197 $30,445,000 $154,543 $0 0.00%
    $100,000 or less 39 $2,925,000 $75,000 $0 0.00%
    $400k-600k 36 $17,220,000 $478,333 $0 0.00%
    $1MM+ 8 $25,020,000 $3,127,500 $0 0.00%
    $600k-1MM 8 $6,820,000 $852,500 $0 0.00%

    2020 saw Sunrise Banks place emphasis on $200k-400k loans with 201 originations, totaling $55,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 72 $15,480,000 $215,000 $0 0.00%
    $100k-150k 62 $17,010,000 $274,355 $0 0.00%
    $75k-100k 57 $13,635,000 $239,211 $0 0.00%
    $50k or less 48 $7,800,000 $162,500 $0 0.00%
    $150k-250k 41 $12,545,000 $305,976 $0 0.00%
    $250k+ 15 $4,345,000 $289,667 $0 0.00%

    Sunrise Banks lent most frequently to those with incomes in the $50k-75k range, with 72 originations. The second most popular income band? $100k-150k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 489 $137,795,000 $281,789 $0 0.00%

    Sunrise Banks lent most frequently to those with DTI ratios of Exempt%, with 489 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 192 $66,470,000 $346,198 $0 0.00%
    White 248 $60,000,000 $241,935 $0 0.00%
    Not provided 26 $5,920,000 $227,692 $0 0.00%
    Asian 16 $3,710,000 $231,875 $0 0.00%
    Black 4 $1,060,000 $265,000 $0 0.00%
    Vietnamese 1 $255,000 $255,000 $0 0.00%
    Native Hawaiian or Islander 1 $195,000 $195,000 $0 0.00%
    American Indian 1 $185,000 $185,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.23%

    Sunrise Banks has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.60%

    Sunrise Banks has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 489 $137,795,000 $281,789

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 29 $35,855,000 $1,236,379
    Single Family (1-4 Units):Site-Built 460 $101,940,000 $221,609

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SYNERGY ONE LENDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 33.3%
    SYNERGY ONE LENDING, INC. Conventional home mortgage Closing on a mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. Conventional home mortgage Trouble during payment process 1 11.1%
    SYNERGY ONE LENDING, INC. FHA mortgage Closing on a mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. VA mortgage Closing on a mortgage 1 11.1%

    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 $15,055
    Sunrise Banks, National Association 200 University Avenue West Saint Paul, MN 55103 Full Service B&M $645,019
    Sunrise Banks, National Association 2100 Blaisdell Avenue North Minneapolis, MN 55404 Full Service B&M $82,001
    Sunrise Banks, National Association 2171 University Avenue Saint Paul, MN 55114 Full Service B&M $34,588
    Sunrise Banks, National Association 2300 Como Avenue Saint Paul, MN 55108 Full Service B&M $247,746
    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 $94,878

    For 2020, Sunrise Banks had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $52,123
    Net interest income $51,122
    Total noninterest income $37,789
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,448
    Trading account gains and fees $0
    Additional Noninterest Income $35,341
    Pre-tax net operating income $15,219
    Securities gains (or losses, -) $733
    Income before extraordinary items $15,937
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,937
    Minority interest net income $0
    Net income $15,937
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $15,204

    Sunrise Banks's gross interest income from loans was $52,123,000.
    Sunrise Banks's net interest income from loans was $51,122,000.
    Sunrise Banks's fee based income from loans was $2,448,000.
    Sunrise Banks's net income from loans was $15,937,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,001
    Provision for credit losses $2,428
    Total noninterest expense $71,264
    Salaries and employee benefits $28,398
    Premises and equipment expense $2,788
    Additional noninterest expense $40,078
    Applicable income taxes $15
    Net charge-offs $808
    Cash dividends $9,811

    Sunrise Banks's interest expense for loans was $1,001,000.
    Sunrise Banks's payroll and benefits expense were $28,398,000.
    Sunrise Banks's property, plant and equipment expenses $2,788,000.

    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 $1,241,202
    Deposits held in domestic offices $1,241,202
    Deposits by Individuals, partnerships, and corporations $1,206,041
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,161
    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 $172,264
    Demand deposits $136,639
    Nontransaction accounts $1,068,938
    Money market deposit accounts (MMDAs) $26,841
    Other savings deposits (excluding MMDAs) $870,171
    Total time deposits $171,926
    Total time and savings deposits $1,104,563
    Noninterest-bearing deposits $804,785
    Interest-bearing deposits $436,417
    Retail deposits $800,251
    IRAs and Keogh plan accounts $4,417
    Brokered deposits $432,227
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,572,959
    Cash & Balances due from depository institutions $219,841
    Interest-bearing balances $182,549
    Total securities $161,340
    Federal funds sold & reverse repurchase $481
    Net loans and leases $1,112,074
    Loan and leases loss allowance $12,314
    Trading account assets $0
    Bank premises and fixed assets $26,542
    Other real estate owned $315
    Goodwill and other intangibles $91
    All other assets $52,275

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,572,959
    Total Liabilities $1,460,115
    Total deposits $1,241,202
    Interest-bearing deposits $436,417
    Deposits held in domestic offices $1,241,202
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $208,154
    Subordinated debt $1,225
    All other liabilities $9,534

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,112,074
    Loan and leases loss allowance $12,314
    Total loans and leases (domestic) $1,124,388
    All real estate loans $723,946
    Real estate loans in domestic offices $723,946
    Construction and development loans $52,377
    Residential 1-4 family construction $250
    Other construction, all land development and other land $52,127
    Loans secured by nonfarm nonresidential properties $410,736
    Nonfarm nonresidential secured by owner-occupied properties $176,223
    Commercial real estate & other non-farm, non-residential $234,513
    Multifamily residential real estate $102,245
    1-4 family residential loans $158,588
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $286,698
    To non-U.S. addressees $0
    Loans to individuals $89,517
    Credit card loans $0
    Related Plans $211
    Consumer Auto Loans $2,449
    Other loans to individuals $86,857
    All other loans & leases $24,227
    Loans to foreign governments and official institutions $0
    Other loans $1,292
    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 $1,112,074,000 of loans outstanding in 2020. $723,946,000 of loans were in real estate loans. $52,377,000 of loans were in development loans. $102,245,000 of loans were in multifamily mortgage loans. $158,588,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,449,000 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 333 $109,089 $327,595
    Nonfarm, nonresidential loans - <$100k 20 $1,202 $60,100
    Nonfarm, nonresidential loans - $100-250k 91 $13,932 $153,099
    Nonfarm, nonresidential loans - $250k-1MM 222 $93,955 $423,221
    Commercial & Industrial, US addressed loans - <$1MM 2,138 $186,349 $87,160
    Commercial & Industrial, US addressed loans - <$100k 1,569 $43,427 $27,678
    Commercial & Industrial, US addressed loans - $100-250k 321 $44,047 $137,218
    Commercial & Industrial, US addressed loans - $250k-1MM 248 $98,875 $398,690