American Federal Bank Mortgage Rates, Fees & Info
Fargo, NDLEI: 549300OHXNUMVE33Q475
Tax ID: 41-0229822
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
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 markets by origination volume include: Fargo, Grand Forks, Fergus Falls, Minneapolis, and Wahpeton among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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
353Origination Dollar Volume (All Markets)
$93,855,000Employee count
117Top 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) | 95 | $35,585,000 | $374,579 | $0 | 0.00% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 83 | $17,085,000 | $205,843 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 61 | $15,415,000 | $252,705 | $0 | 0.00% |
| Outside of Metro Areas | 51 | $8,465,000 | $165,980 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 26 | $6,960,000 | $267,692 | $0 | 0.00% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 13 | $4,375,000 | $336,538 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 5 | $1,355,000 | $271,000 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $0 | 0.00% |
| Bemidji, MN (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| Minot, ND (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Williston, ND (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| BISMARCK, ND (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 339 | $92,375,000 | $272,493 | $0 | 0.00% |
| FHA | 9 | $215,000 | $23,889 | $0 | 0.00% |
| VA | 5 | $1,265,000 | $253,000 | $0 | 0.00% |
For 2021, American Federal Bank's most frequently originated type of loan was Conventional, with 339 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2021, American Federal Bank's most frequently cited loan purpose was Home Purchase, with 149 originations. The 2nd most popular reason was Refi, with 97 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 353 | $93,855,000 | $265,878 | $0 | 0.00% |
For 2021, American Federal Bank's most frequently cited loan duration was Other, with 353 originations.
Loan Sizing
2021 saw American Federal Bank place emphasis on $100k-200k loans with 124 originations, totaling $18,460,000 in origination value.
Applicant Income
American Federal Bank lent most frequently to those with incomes in the $100k-150k range, with 73 originations. The second most popular income band? $75k-100k, with 48 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 353 | $93,855,000 | $265,878 | $0 | 0.00% |
American Federal Bank lent most frequently to those with DTI ratios of Exempt%, with 353 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.83%
American Federal Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.25%
American Federal Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 353 | $93,855,000 | $265,878 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERICA FIRST FEDERAL CREDIT UNION | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 33.3% |
| AMERICA FIRST FEDERAL CREDIT UNION | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 33.3% |
| AMERICA FIRST FEDERAL CREDIT UNION | Other type of mortgage | Struggling to pay mortgage | 1 | 33.3% |
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 | $10,615 |
| American Federal Bank | 117 South Mill Street Fergus Falls, MN 56537 | Full Service B&M | $58,958 |
| American Federal Bank | 1301 Thirtieth Avenue South Fargo, ND 58103 | Full Service B&M | $58,211 |
| American Federal Bank | 140 Gateway Drive Ne East Grand Forks, MN 56721 | Full Service B&M | $61,470 |
| American Federal Bank | 157 South Second Street Hallock, MN 56728 | Full Service B&M | $51,689 |
| American Federal Bank | 201 East Main Street South Ada, MN 56510 | Full Service B&M | $36,608 |
| American Federal Bank | 209 Johnson Avenue North Fosston, MN 56542 | Full Service B&M | $45,513 |
| American Federal Bank | 215 North Fifth Street Fargo, ND 58102 | Full Service B&M | $79,835 |
| American Federal Bank | 2551 South Columbia Road Grand Forks, ND 58201 | Full Service B&M | $32,043 |
| American Federal Bank | 304 N Broadway Crookston, MN 56716 | Full Service B&M | $56,480 |
| American Federal Bank | 504 1st Avenue North Northwood, ND 58267 | Full Service B&M | $10,336 |
| American Federal Bank | 601 Center Avenue Moorhead, MN 56560 | Full Service B&M | $41,123 |
| American Federal Bank | 615 2nd Ave N Wahpeton, ND 58075 | Full Service B&M | $33,709 |
For 2021, American Federal Bank had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $26,724 |
| Net interest income | $24,608 |
| Total noninterest income | $4,298 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $243 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,055 |
| Pre-tax net operating income | $10,161 |
| Securities gains (or losses, -) | $27 |
| Income before extraordinary items | $10,184 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $10,184 |
| Minority interest net income | $0 |
| Net income | $10,184 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $10,157 |
American Federal Bank's gross interest income from loans was $26,724,000.
American Federal Bank's net interest income from loans was $24,608,000.
American Federal Bank's fee based income from loans was $243,000.
American Federal Bank's net income from loans was $10,184,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,116 |
| Provision for credit losses | $-750 |
| Total noninterest expense | $19,495 |
| Salaries and employee benefits | $15,020 |
| Premises and equipment expense | $2,324 |
| Additional noninterest expense | $2,151 |
| Applicable income taxes | $4 |
| Net charge-offs | $-3 |
| Cash dividends | $8,000 |
American Federal Bank's interest expense for loans was $2,116,000.
American Federal Bank's payroll and benefits expense were $15,020,000.
American Federal Bank's property, plant and equipment expenses $2,324,000.
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 | $614,919 |
| Deposits held in domestic offices | $614,919 |
| Deposits by Individuals, partnerships, and corporations | $569,729 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $41,614 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,576 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $264,241 |
| Demand deposits | $142,347 |
| Nontransaction accounts | $350,678 |
| Money market deposit accounts (MMDAs) | $150,548 |
| Other savings deposits (excluding MMDAs) | $108,564 |
| Total time deposits | $91,566 |
| Total time and savings deposits | $472,572 |
| Noninterest-bearing deposits | $133,914 |
| Interest-bearing deposits | $481,005 |
| Retail deposits | $584,054 |
| IRAs and Keogh plan accounts | $12,714 |
| Brokered deposits | $17,597 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $684,318 |
| Cash & Balances due from depository institutions | $81,481 |
| Interest-bearing balances | $70,522 |
| Total securities | $52,907 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $524,084 |
| Loan and leases loss allowance | $5,688 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $10,532 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $4,056 |
| All other assets | $11,258 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $684,318 |
| Total Liabilities | $622,969 |
| Total deposits | $614,919 |
| Interest-bearing deposits | $481,005 |
| Deposits held in domestic offices | $614,919 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $5,000 |
| Subordinated debt | $0 |
| All other liabilities | $3,050 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $524,084 |
| Loan and leases loss allowance | $5,688 |
| Total loans and leases (domestic) | $529,772 |
| All real estate loans | $371,816 |
| Real estate loans in domestic offices | $371,816 |
| Construction and development loans | $7,862 |
| Residential 1-4 family construction | $722 |
| Other construction, all land development and other land | $7,140 |
| Loans secured by nonfarm nonresidential properties | $37,899 |
| Nonfarm nonresidential secured by owner-occupied properties | $21,634 |
| Commercial real estate & other non-farm, non-residential | $16,265 |
| Multifamily residential real estate | $85,074 |
| 1-4 family residential loans | $111,775 |
| Farmland loans | $129,206 |
| Loans held in foreign offices | $0 |
| Farm loans | $130,835 |
| Commercial and industrial loans | $15,425 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $6,900 |
| Credit card loans | $0 |
| Related Plans | $1,632 |
| Consumer Auto Loans | $1,887 |
| Other loans to individuals | $3,381 |
| All other loans & leases | $4,796 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $1,327 |
| 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 | $430 |
| Non 1-4 family restructured loans & leases | $251 |
| Total loans and leases (foreign) | $0 |
American Federal Bank had $524,084,000 of loans outstanding in 2021. $371,816,000 of loans were in real estate loans. $7,862,000 of loans were in development loans. $85,074,000 of loans were in multifamily mortgage loans. $111,775,000 of loans were in 1-4 family mortgage loans. $130,835,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,887,000 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 | 73 | $14,729 | $201,767 |
| Nonfarm, nonresidential loans - <$100k | 16 | $1,026 | $64,125 |
| Nonfarm, nonresidential loans - $100-250k | 25 | $2,969 | $118,760 |
| Nonfarm, nonresidential loans - $250k-1MM | 32 | $10,734 | $335,438 |
| Commercial & Industrial, US addressed loans - <$1MM | 122 | $9,975 | $81,762 |
| Commercial & Industrial, US addressed loans - <$100k | 67 | $1,272 | $18,985 |
| Commercial & Industrial, US addressed loans - $100-250k | 28 | $3,141 | $112,179 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 27 | $5,562 | $206,000 |
| Farmland loans - <$1MM | 343 | $35,978 | $104,892 |
| Farmland loans - <$100k | 75 | $3,062 | $40,827 |
| Farmland loans - $100-250k | 137 | $12,412 | $90,599 |
| Farmland loans - $250k-1MM | 131 | $20,504 | $156,519 |
| Agriculture operations loans - <$1MM | 314 | $25,677 | $81,774 |
| Agriculture operations loans - <$100k | 106 | $2,460 | $23,208 |
| Agriculture operations loans - $100-250k | 103 | $7,689 | $74,650 |
| Agriculture operations loans - $250k-1MM | 105 | $15,528 | $147,886 |