The Bank Of Elk River Mortgage Rates, Fees & Info
Elk River, MN
LEI: 549300M5DZ6P9KNT7H33
Tax ID: 41-0138420
Jump to:
Mortgage Data
Bank Data
Review & Overview
The Bank Of Elk River is a smaller bank specializing in
various types of mortgages.
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
0
Origination Dollar Volume (All Markets)
$0
Employee count
100
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| TD BANK US HOLDING COMPANY |
Conventional home mortgage |
Applying for a mortgage or refinancing an existing mortgage |
24 |
16.9% |
| TD BANK US HOLDING COMPANY |
Conventional home mortgage |
Closing on a mortgage |
13 |
9.2% |
| TD BANK US HOLDING COMPANY |
Conventional home mortgage |
Improper use of your report |
1 |
0.7% |
| TD BANK US HOLDING COMPANY |
Conventional home mortgage |
Incorrect information on your report |
4 |
2.8% |
| TD BANK US HOLDING COMPANY |
Conventional home mortgage |
Struggling to pay mortgage |
6 |
4.2% |
| TD BANK US HOLDING COMPANY |
Conventional home mortgage |
Trouble during payment process |
37 |
26.1% |
| TD BANK US HOLDING COMPANY |
FHA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
0.7% |
| TD BANK US HOLDING COMPANY |
FHA mortgage |
Struggling to pay mortgage |
2 |
1.4% |
| TD BANK US HOLDING COMPANY |
FHA mortgage |
Trouble during payment process |
1 |
0.7% |
| TD BANK US HOLDING COMPANY |
Home equity loan or line of credit (HELOC) |
Applying for a mortgage or refinancing an existing mortgage |
15 |
10.6% |
| TD BANK US HOLDING COMPANY |
Home equity loan or line of credit (HELOC) |
Closing on a mortgage |
6 |
4.2% |
| TD BANK US HOLDING COMPANY |
Home equity loan or line of credit (HELOC) |
Incorrect information on your report |
1 |
0.7% |
| TD BANK US HOLDING COMPANY |
Home equity loan or line of credit (HELOC) |
Struggling to pay mortgage |
2 |
1.4% |
| TD BANK US HOLDING COMPANY |
Home equity loan or line of credit (HELOC) |
Trouble during payment process |
11 |
7.7% |
| TD BANK US HOLDING COMPANY |
Other type of mortgage |
Applying for a mortgage or refinancing an existing mortgage |
7 |
4.9% |
| TD BANK US HOLDING COMPANY |
Other type of mortgage |
Closing on a mortgage |
1 |
0.7% |
| TD BANK US HOLDING COMPANY |
Other type of mortgage |
Struggling to pay mortgage |
1 |
0.7% |
| TD BANK US HOLDING COMPANY |
Other type of mortgage |
Trouble during payment process |
6 |
4.2% |
| TD BANK US HOLDING COMPANY |
VA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
2 |
1.4% |
| TD BANK US HOLDING COMPANY |
VA mortgage |
Trouble during payment process |
1 |
0.7% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| The Bank of Elk River |
15800 88th Street Northeast Otsego, MN 55330 |
Full Service B&M
|
$87,653 |
| The Bank of Elk River |
26319 2nd St. E Zimmerman, MN 55398 |
Full Service B&M
|
$75,650 |
| The Bank of Elk River |
630 Main Street Elk River, MN 55330 |
Full Service B&M
|
$311,802 |
| The Bank of Elk River |
846 Freeport Avenue Elk River, MN 55330 |
Full Service B&M
|
$82,658 |
For 2021, The Bank Of Elk River had 4 branches.
Yearly Performance Overview
Bank Income
The Bank Of Elk River's gross interest income from loans was $19,954,000.
The Bank Of Elk River's net interest income from loans was $18,832,000.
The Bank Of Elk River's fee based income from loans was $1,234,000.
The Bank Of Elk River's net income from loans was $6,506,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$1,122 |
| Provision for credit losses |
$165 |
| Total noninterest expense |
$16,401 |
| Salaries and employee benefits |
$10,506 |
| Premises and equipment expense |
$1,274 |
| Additional noninterest expense |
$4,621 |
| Applicable income taxes |
$565 |
| Net charge-offs |
$179 |
| Cash dividends |
$2,781 |
The Bank Of Elk River's interest expense for loans was $1,122,000.
The Bank Of Elk River's payroll and benefits expense were $10,506,000.
The Bank Of Elk River's property, plant and equipment expenses $1,274,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$582,128 |
| Deposits held in domestic offices |
$582,128 |
| Deposits by Individuals, partnerships, and corporations |
$573,865 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$8,014 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$249 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$82,727 |
| Demand deposits |
$43,749 |
| Nontransaction accounts |
$499,401 |
| Money market deposit accounts (MMDAs) |
$153,816 |
| Other savings deposits (excluding MMDAs) |
$262,179 |
| Total time deposits |
$83,405 |
| Total time and savings deposits |
$538,379 |
| Noninterest-bearing deposits |
$173,251 |
| Interest-bearing deposits |
$408,877 |
| Retail deposits |
$561,064 |
| IRAs and Keogh plan accounts |
$26,541 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$635,628 |
| Cash & Balances due from depository institutions |
$44,055 |
| Interest-bearing balances |
$33,589 |
| Total securities |
$263,488 |
| Federal funds sold & reverse repurchase |
$5,203 |
| Net loans and leases |
$307,911 |
| Loan and leases loss allowance |
$5,112 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$9,131 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$0 |
| All other assets |
$5,840 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$635,628 |
| Total Liabilities |
$584,498 |
| Total deposits |
$582,128 |
| Interest-bearing deposits |
$408,877 |
| Deposits held in domestic offices |
$582,128 |
| % insured (estimated) |
$80 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$0 |
| Subordinated debt |
$0 |
| All other liabilities |
$2,370 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$307,911 |
| Loan and leases loss allowance |
$5,112 |
| Total loans and leases (domestic) |
$313,023 |
| All real estate loans |
$216,075 |
| Real estate loans in domestic offices |
$216,075 |
| Construction and development loans |
$21,312 |
| Residential 1-4 family construction |
$7,701 |
| Other construction, all land development and other land |
$13,611 |
| Loans secured by nonfarm nonresidential properties |
$117,394 |
| Nonfarm nonresidential secured by owner-occupied properties |
$67,495 |
| Commercial real estate & other non-farm, non-residential |
$49,899 |
| Multifamily residential real estate |
$19,512 |
| 1-4 family residential loans |
$56,588 |
| Farmland loans |
$1,269 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$85,530 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$11,376 |
| Credit card loans |
$104 |
| Related Plans |
$323 |
| Consumer Auto Loans |
$6,974 |
| Other loans to individuals |
$3,975 |
| All other loans & leases |
$42 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$42 |
| 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 |
The Bank of Elk River had $307,911,000 of loans outstanding in 2021. $216,075,000 of loans were in real estate loans.
$21,312,000 of loans were in development loans. $19,512,000 of loans were in multifamily mortgage loans.
$56,588,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $104,000
of loans were in credit card loans. $6,974,000 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 |
155 |
$39,844 |
$257,058 |
| Nonfarm, nonresidential loans - <$100k |
17 |
$793 |
$46,647 |
| Nonfarm, nonresidential loans - $100-250k |
50 |
$5,667 |
$113,340 |
| Nonfarm, nonresidential loans - $250k-1MM |
88 |
$33,384 |
$379,364 |
| Commercial & Industrial, US addressed loans - <$1MM |
718 |
$51,816 |
$72,167 |
| Commercial & Industrial, US addressed loans - <$100k |
507 |
$16,556 |
$32,655 |
| Commercial & Industrial, US addressed loans - $100-250k |
141 |
$14,720 |
$104,397 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
70 |
$20,540 |
$293,429 |
| Farmland loans - <$1MM |
9 |
$1,269 |
$141,000 |
| Farmland loans - <$100k |
2 |
$108 |
$54,000 |
| Farmland loans - $100-250k |
5 |
$644 |
$128,800 |
| Farmland loans - $250k-1MM |
2 |
$517 |
$258,500 |