American Federal Bank Mortgage Rates, Fees & Info

Fargo, ND

LEI: 549300OHXNUMVE33Q475

Tax ID: 41-0229822

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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

    American Federal Bank is a smaller bank specializing in Home Purchase and Refi loans. American Federal Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top two markets are Fargo and Grand Forks .

    American Federal Bank 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

    261

    Origination Dollar Volume (All Markets)

    $80,075,000

    Employee count

    120

    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
    FARGO, ND-MN (FHA|USDA|VA) 75 $38,205,000 $509,400 $0 0.00%
    Outside of Metro Areas 120 $28,670,000 $238,917 $0 0.00%
    GRAND FORKS, ND-MN (FHA|USDA|VA) 66 $13,200,000 $200,000 $0 0.00%
    American Federal Bank's top markets include Fargo and Grand Forks among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 249 $78,995,000 $317,249 $0 0.00%
    FHA 10 $690,000 $69,000 $0 0.00%
    VA 2 $390,000 $195,000 $0 0.00%

    For 2019, American Federal Bank's most frequently originated type of loan was Conventional, with 249 originations. Their 2nd most popular type was FHA, with 10 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 120 $31,850,000 $265,417 $0 0.00%
    Cash Out Refi 57 $11,765,000 $206,404 $0 0.00%
    Refi 54 $32,250,000 $597,222 $0 0.00%
    Home Improvement 30 $4,210,000 $140,333 $0 0.00%

    For 2019, American Federal Bank's most frequently cited loan purpose was Home Purchase, with 120 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 261 $80,075,000 $306,801 $0 0.00%

    For 2019, American Federal Bank's most frequently cited loan duration was Other, with 261 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 95 $13,995,000 $147,316 $0 0.00%
    $200k-400k 86 $23,920,000 $278,140 $0 0.00%
    $100,000 or less 50 $2,810,000 $56,200 $0 0.00%
    $400k-600k 16 $7,750,000 $484,375 $0 0.00%
    $1MM+ 10 $28,180,000 $2,818,000 $0 0.00%
    $600k-1MM 4 $3,420,000 $855,000 $0 0.00%

    2019 saw American Federal Bank place emphasis on $100k-200k loans with 95 originations, totaling $13,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 49 $6,775,000 $138,265 $0 0.00%
    $100k-150k 45 $8,935,000 $198,556 $0 0.00%
    $150k-250k 31 $8,645,000 $278,871 $0 0.00%
    $75k-100k 26 $5,100,000 $196,154 $0 0.00%
    $50k or less 25 $2,295,000 $91,800 $0 0.00%
    $250k+ 20 $6,110,000 $305,500 $0 0.00%

    American Federal Bank lent most frequently to those with incomes in the $50k-75k range, with 49 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% 261 $80,075,000 $306,801 $0 0.00%

    American Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 261 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 211 $41,975,000 $198,934 $0 0.00%
    Not applicable 45 $37,535,000 $834,111 $0 0.00%
    Asian 5 $565,000 $113,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.60%

    American Federal Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.51%

    American Federal Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 261 $80,075,000 $306,801

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 24 $34,380,000 $1,432,500
    Single Family (1-4 Units):Manufactured 4 $480,000 $120,000
    Single Family (1-4 Units):Site-Built 233 $45,215,000 $194,056

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    AMERICA FIRST FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    American Federal Bank 101 East Johnson Ave Warren, MN 56762 Full Service B&M $8,769
    American Federal Bank 117 South Mill Street Fergus Falls, MN 56537 Full Service B&M $37,390
    American Federal Bank 1301 Thirtieth Avenue South Fargo, ND 58103 Full Service B&M $41,480
    American Federal Bank 140 Gateway Drive Ne East Grand Forks, MN 56721 Full Service B&M $48,120
    American Federal Bank 157 South Second Street Hallock, MN 56728 Full Service B&M $37,864
    American Federal Bank 201 East Main Street South Ada, MN 56510 Full Service B&M $23,625
    American Federal Bank 209 Johnson Avenue North Fosston, MN 56542 Full Service B&M $33,397
    American Federal Bank 215 North Fifth Street Fargo, ND 58102 Full Service B&M $76,030
    American Federal Bank 2551 South Columbia Road Grand Forks, ND 58201 Full Service B&M $24,797
    American Federal Bank 304 N Broadway Crookston, MN 56716 Full Service B&M $45,031
    American Federal Bank 504 1st Avenue North Northwood, ND 58267 Full Service B&M $8,514
    American Federal Bank 601 Center Avenue Moorhead, MN 56560 Full Service B&M $31,390
    American Federal Bank 615 2nd Ave N Wahpeton, ND 58075 Full Service B&M $19,765

    For 2019, American Federal Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,550
    Net interest income $23,494
    Total noninterest income $3,244
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $307
    Trading account gains and fees $0
    Additional Noninterest Income $2,937
    Pre-tax net operating income $7,295
    Securities gains (or losses, -) $8
    Income before extraordinary items $7,299
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,299
    Minority interest net income $0
    Net income $7,299
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,291

    American Federal Bank's gross interest income from loans was $30,550,000.
    American Federal Bank's net interest income from loans was $23,494,000.
    American Federal Bank's fee based income from loans was $307,000.
    American Federal Bank's net income from loans was $7,299,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,056
    Provision for credit losses $1,280
    Total noninterest expense $18,163
    Salaries and employee benefits $13,444
    Premises and equipment expense $2,171
    Additional noninterest expense $2,548
    Applicable income taxes $4
    Net charge-offs $730
    Cash dividends $4,000

    American Federal Bank's interest expense for loans was $7,056,000.
    American Federal Bank's payroll and benefits expense were $13,444,000.
    American Federal Bank's property, plant and equipment expenses $2,171,000.

    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 $478,492
    Deposits held in domestic offices $478,492
    Deposits by Individuals, partnerships, and corporations $449,602
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $28,092
    Deposits by Commercial banks and other depository institutions in U.S. $798
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $199,616
    Demand deposits $109,045
    Nontransaction accounts $278,876
    Money market deposit accounts (MMDAs) $85,009
    Other savings deposits (excluding MMDAs) $63,836
    Total time deposits $130,031
    Total time and savings deposits $369,447
    Noninterest-bearing deposits $108,952
    Interest-bearing deposits $369,540
    Retail deposits $433,262
    IRAs and Keogh plan accounts $13,373
    Brokered deposits $29,317
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $628,546
    Cash & Balances due from depository institutions $17,419
    Interest-bearing balances $3,547
    Total securities $49,618
    Federal funds sold & reverse repurchase $0
    Net loans and leases $532,051
    Loan and leases loss allowance $5,832
    Trading account assets $0
    Bank premises and fixed assets $10,940
    Other real estate owned $0
    Goodwill and other intangibles $2,993
    All other assets $15,525

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $628,546
    Total Liabilities $575,464
    Total deposits $478,492
    Interest-bearing deposits $369,540
    Deposits held in domestic offices $478,492
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $94,750
    Subordinated debt $0
    All other liabilities $2,222

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $532,051
    Loan and leases loss allowance $5,832
    Total loans and leases (domestic) $537,883
    All real estate loans $337,265
    Real estate loans in domestic offices $337,265
    Construction and development loans $7,381
    Residential 1-4 family construction $1,820
    Other construction, all land development and other land $5,561
    Loans secured by nonfarm nonresidential properties $37,243
    Nonfarm nonresidential secured by owner-occupied properties $22,753
    Commercial real estate & other non-farm, non-residential $14,490
    Multifamily residential real estate $74,886
    1-4 family residential loans $94,413
    Farmland loans $123,342
    Loans held in foreign offices $0
    Farm loans $163,639
    Commercial and industrial loans $24,182
    To non-U.S. addressees $0
    Loans to individuals $5,769
    Credit card loans $0
    Related Plans $2,352
    Consumer Auto Loans $1,217
    Other loans to individuals $2,200
    All other loans & leases $7,028
    Loans to foreign governments and official institutions $0
    Other loans $138
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $167
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $334
    Non 1-4 family restructured loans & leases $324
    Total loans and leases (foreign) $0

    American Federal Bank had $532,051,000 of loans outstanding in 2019. $337,265,000 of loans were in real estate loans. $7,381,000 of loans were in development loans. $74,886,000 of loans were in multifamily mortgage loans. $94,413,000 of loans were in 1-4 family mortgage loans. $163,639,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,217,000 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 81 $13,791 $170,259
    Nonfarm, nonresidential loans - <$100k 26 $920 $35,385
    Nonfarm, nonresidential loans - $100-250k 26 $3,404 $130,923
    Nonfarm, nonresidential loans - $250k-1MM 29 $9,467 $326,448
    Commercial & Industrial, US addressed loans - <$1MM 123 $11,629 $94,545
    Commercial & Industrial, US addressed loans - <$100k 65 $1,432 $22,031
    Commercial & Industrial, US addressed loans - $100-250k 32 $3,375 $105,469
    Commercial & Industrial, US addressed loans - $250k-1MM 26 $6,822 $262,385
    Farmland loans - <$1MM 362 $40,655 $112,307
    Farmland loans - <$100k 82 $3,527 $43,012
    Farmland loans - $100-250k 152 $14,125 $92,928
    Farmland loans - $250k-1MM 128 $23,003 $179,711
    Agriculture operations loans - <$1MM 295 $29,748 $100,841
    Agriculture operations loans - <$100k 104 $2,894 $27,827
    Agriculture operations loans - $100-250k 92 $8,605 $93,533
    Agriculture operations loans - $250k-1MM 99 $18,249 $184,333