American National Bank Of Minnesota Mortgage Rates, Fees & Info
Baxter, MNLEI: 549300IJ5M3CD2DPIX47
Tax ID: 41-1449276
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Mortgage Data
Bank Data
Review & Overview
American National Bank Of Minnesota is a smaller bank specializing in Home Purchase loans. American National Bank Of Minnesota has a high proportion of conventional loans. Their top markets by origination volume include: Brainerd, Minneapolis, Alexandria, St. Cloud, and Fergus Falls among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)American National Bank Of Minnesota has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
347Origination Dollar Volume (All Markets)
$79,945,000Employee count
82Top 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 |
|---|---|---|---|---|---|
| Brainerd, MN (FHA|USDA|VA) | 129 | $28,455,000 | $220,581 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 51 | $15,545,000 | $304,804 | $0 | 0.00% |
| Outside of Metro Areas | 67 | $12,775,000 | $190,672 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 37 | $10,615,000 | $286,892 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 17 | $4,535,000 | $266,765 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 17 | $4,285,000 | $252,059 | $0 | 0.00% |
| FARGO, ND-MN (FHA|USDA|VA) | 6 | $790,000 | $131,667 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 11 | $635,000 | $57,727 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $0 | 0.00% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 347 | $79,945,000 | $230,389 | $0 | 0.00% |
For 2021, American National Bank Of Minnesota's most frequently originated type of loan was Conventional, with 347 originations.
Loan Reason
For 2021, American National Bank Of Minnesota's most frequently cited loan purpose was Home Purchase, with 271 originations. The 2nd most popular reason was Refi, with 61 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 347 | $79,945,000 | $230,389 | $0 | 0.00% |
For 2021, American National Bank Of Minnesota's most frequently cited loan duration was Other, with 347 originations.
Loan Sizing
2021 saw American National Bank Of Minnesota place emphasis on $100k-200k loans with 131 originations, totaling $19,145,000 in origination value.
Applicant Income
American National Bank Of Minnesota lent most frequently to those with incomes in the $50k or less range, with 52 originations. The second most popular income band? $100k-150k, with 45 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 347 | $79,945,000 | $230,389 | $0 | 0.00% |
American National Bank Of Minnesota lent most frequently to those with DTI ratios of Exempt%, with 347 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.72%
American National Bank Of Minnesota has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination95.97%
American National Bank Of Minnesota has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 347 | $79,945,000 | $230,389 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICAN BANCSHARES MORTGAGE, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| American National Bank of Minnesota | 100 Highland Avenue Northwest Walker, MN 56484 | Full Service B&M | $15,817 |
| American National Bank of Minnesota | 1325 Highway 10 West Detroit Lakes, MN 56501 | Full Service B&M | $31,447 |
| American National Bank of Minnesota | 1920 South Sixth Street Brainerd, MN 56401 | Full Service B&M | $55,343 |
| American National Bank of Minnesota | 24052 Smiley Road Nisswa, MN 56468 | Full Service B&M | $17,560 |
| American National Bank of Minnesota | 31279 Brunes Street Pequot Lakes, MN 56472 | Full Service B&M | $28,194 |
| American National Bank of Minnesota | 3210 West Division Street St. Cloud, MN 56301 | Full Service B&M | $55,721 |
| American National Bank of Minnesota | 512 30th Avenue East Alexandria, MN 56308 | Full Service B&M | $22,984 |
| American National Bank of Minnesota | 727 Western Avenue North Fergus Falls, MN 56537 | Full Service B&M | $25,932 |
| American National Bank of Minnesota | 7638 Woida Road Baxter, MN 56425 | Full Service B&M | $51,402 |
For 2021, American National Bank Of Minnesota had 9 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $18,164 |
| Net interest income | $15,899 |
| Total noninterest income | $532 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $122 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $410 |
| Pre-tax net operating income | $4,796 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,383 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,383 |
| Minority interest net income | $0 |
| Net income | $4,383 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,383 |
American National Bank Of Minnesota's gross interest income from loans was $18,164,000.
American National Bank Of Minnesota's net interest income from loans was $15,899,000.
American National Bank Of Minnesota's fee based income from loans was $122,000.
American National Bank Of Minnesota's net income from loans was $4,383,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,265 |
| Provision for credit losses | $372 |
| Total noninterest expense | $11,263 |
| Salaries and employee benefits | $7,359 |
| Premises and equipment expense | $961 |
| Additional noninterest expense | $2,943 |
| Applicable income taxes | $413 |
| Net charge-offs | $-2 |
| Cash dividends | $1,647 |
American National Bank Of Minnesota's interest expense for loans was $2,265,000.
American National Bank Of Minnesota's payroll and benefits expense were $7,359,000.
American National Bank Of Minnesota's property, plant and equipment expenses $961,000.
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 | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $320,941 |
| Deposits held in domestic offices | $320,941 |
| Deposits by Individuals, partnerships, and corporations | $315,842 |
| Deposits by U.S. Government | $2 |
| Deposits by States and political subdivisions in the U.S. | $4,591 |
| Deposits by Commercial banks and other depository institutions in U.S. | $506 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $88,642 |
| Demand deposits | $45,630 |
| Nontransaction accounts | $232,299 |
| Money market deposit accounts (MMDAs) | $119,265 |
| Other savings deposits (excluding MMDAs) | $16,598 |
| Total time deposits | $96,434 |
| Total time and savings deposits | $275,311 |
| Noninterest-bearing deposits | $45,639 |
| Interest-bearing deposits | $275,302 |
| Retail deposits | $282,038 |
| IRAs and Keogh plan accounts | $9,729 |
| Brokered deposits | $20,842 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $386,972 |
| Cash & Balances due from depository institutions | $14,326 |
| Interest-bearing balances | $10,211 |
| Total securities | $13,418 |
| Federal funds sold & reverse repurchase | $6,429 |
| Net loans and leases | $327,542 |
| Loan and leases loss allowance | $3,963 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $11,017 |
| Other real estate owned | $616 |
| Goodwill and other intangibles | $0 |
| All other assets | $13,624 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $386,972 |
| Total Liabilities | $351,473 |
| Total deposits | $320,941 |
| Interest-bearing deposits | $275,302 |
| Deposits held in domestic offices | $320,941 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $30,000 |
| Subordinated debt | $0 |
| All other liabilities | $532 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $327,542 |
| Loan and leases loss allowance | $3,963 |
| Total loans and leases (domestic) | $331,505 |
| All real estate loans | $305,876 |
| Real estate loans in domestic offices | $305,876 |
| Construction and development loans | $50,835 |
| Residential 1-4 family construction | $19,135 |
| Other construction, all land development and other land | $31,700 |
| Loans secured by nonfarm nonresidential properties | $83,173 |
| Nonfarm nonresidential secured by owner-occupied properties | $35,236 |
| Commercial real estate & other non-farm, non-residential | $47,937 |
| Multifamily residential real estate | $10,695 |
| 1-4 family residential loans | $157,354 |
| Farmland loans | $3,819 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $16,282 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $9,235 |
| Credit card loans | $0 |
| Related Plans | $996 |
| Consumer Auto Loans | $3,028 |
| Other loans to individuals | $5,211 |
| All other loans & leases | $112 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $31 |
| 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 | $180 |
| Non 1-4 family restructured loans & leases | $180 |
| Total loans and leases (foreign) | $0 |
American National Bank of Minnesota had $327,542,000 of loans outstanding in 2021. $305,876,000 of loans were in real estate loans. $50,835,000 of loans were in development loans. $10,695,000 of loans were in multifamily mortgage loans. $157,354,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,028,000 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 | 245 | $42,232 | $172,376 |
| Nonfarm, nonresidential loans - <$100k | 75 | $4,747 | $63,293 |
| Nonfarm, nonresidential loans - $100-250k | 89 | $10,501 | $117,989 |
| Nonfarm, nonresidential loans - $250k-1MM | 81 | $26,984 | $333,136 |
| Commercial & Industrial, US addressed loans - <$1MM | 251 | $12,890 | $51,355 |
| Commercial & Industrial, US addressed loans - <$100k | 189 | $4,535 | $23,995 |
| Commercial & Industrial, US addressed loans - $100-250k | 41 | $3,901 | $95,146 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 21 | $4,454 | $212,095 |
| Farmland loans - <$1MM | 23 | $3,306 | $143,739 |
| Farmland loans - <$100k | 10 | $343 | $34,300 |
| Farmland loans - $100-250k | 9 | $1,295 | $143,889 |
| Farmland loans - $250k-1MM | 4 | $1,668 | $417,000 |