Security First Bank Of North Dakota Mortgage Rates, Fees & Info

New Salem, ND

LEI: 549300P4RGN7F1H2N265

Tax ID: 45-0192710

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Mortgage Data

Bank Data

Review & Overview

Security First Bank Of North Dakota is a smaller bank specializing in Home Purchase and Refi loans. Security First Bank Of North Dakota has a high proportion of conventional loans. Their top markets by origination volume include: Bismarck, Cape Coral, Las Vegas, North Port, and Fargo among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Security First Bank Of North Dakota 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

93

Origination Dollar Volume (All Markets)

$17,395,000

Employee count

38

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
BISMARCK, ND (FHA|USDA|VA) 77 $14,645,000 $190,195 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 7 $775,000 $110,714 $0 0.00%
Outside of Metro Areas 3 $695,000 $231,667 $0 0.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $570,000 $285,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
FARGO, ND-MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Jamestown, ND (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Minot, ND (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Security First Bank Of North Dakota's top markets include Bismarck, Cape Coral, Las Vegas, North Port, and Fargo among others.

Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 92 $17,080,000 $185,652 $0 0.00%
    VA 1 $315,000 $315,000 $0 0.00%

    For 2018, Security First Bank Of North Dakota's most frequently originated type of loan was Conventional, with 92 originations. Their 2nd most popular type was VA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $10,910,000 $237,174 $0 0.00%
    Refi 26 $3,950,000 $151,923 $0 0.00%
    Cash Out Refi 8 $1,490,000 $186,250 $0 0.00%
    Other 7 $805,000 $115,000 $0 0.00%
    Home Improvement 6 $240,000 $40,000 $0 0.00%

    For 2018, Security First Bank Of North Dakota's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 93 $17,395,000 $187,043 $0 0.00%

    For 2018, Security First Bank Of North Dakota's most frequently cited loan duration was Other, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 37 $5,455,000 $147,432 $0 0.00%
    $200k-400k 25 $6,865,000 $274,600 $0 0.00%
    $100,000 or less 23 $1,175,000 $51,087 $0 0.00%
    $400k-600k 7 $3,235,000 $462,143 $0 0.00%
    $600k-1MM 1 $665,000 $665,000 $0 0.00%

    2018 saw Security First Bank Of North Dakota place emphasis on $100k-200k loans with 37 originations, totaling $5,455,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $4,150,000 $207,500 $0 0.00%
    $50k-75k 15 $2,015,000 $134,333 $0 0.00%
    $50k or less 13 $1,505,000 $115,769 $0 0.00%
    $250k+ 12 $2,130,000 $177,500 $0 0.00%
    $75k-100k 11 $2,955,000 $268,636 $0 0.00%
    $150k-250k 9 $1,765,000 $196,111 $0 0.00%

    Security First Bank Of North Dakota lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $50k-75k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 93 $17,395,000 $187,043 $0 0.00%

    Security First Bank Of North Dakota lent most frequently to those with DTI ratios of Exempt%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $14,530,000 $181,625 $0 0.00%
    Not applicable 12 $2,750,000 $229,167 $0 0.00%
    Asian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.03%

    Security First Bank Of North Dakota has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.32%

    Security First Bank Of North Dakota has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 93 $17,395,000 $187,043

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $445,000 $445,000
    Multifamily:Site-Built 3 $945,000 $315,000
    Single Family (1-4 Units):Manufactured 2 $190,000 $95,000
    Single Family (1-4 Units):Site-Built 87 $15,815,000 $181,782

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Security National Financial Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    Security National Financial Corp Conventional home mortgage Trouble during payment process 3 60.0%
    Security National Financial Corp VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Security First Bank of North Dakota 109 Main Street Almont, ND 58520 Limited, Drive-thru $0
    Security First Bank of North Dakota 3000 North 14th Street Bismarck, ND 58503 Full Service B&M $37,790
    Security First Bank of North Dakota 614 West Main Street Mandan, ND 58554 Full Service B&M $39,386
    Security First Bank of North Dakota 700 Ash Avenue New Salem, ND 58563 Full Service B&M $40,480
    Security First Bank of North Dakota Main Street And Center Avenue Center, ND 58530 Full Service B&M $36,872

    For 2018, Security First Bank Of North Dakota had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,703
    Net interest income $8,373
    Total noninterest income $1,053
    Gross Fiduciary activities income $3
    Service charges on deposit accounts $117
    Trading account gains and fees $0
    Additional Noninterest Income $933
    Pre-tax net operating income $2,430
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,430
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,430
    Minority interest net income $0
    Net income $2,430
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,430

    Security First Bank Of North Dakota's gross interest income from loans was $8,703,000.
    Security First Bank Of North Dakota's net interest income from loans was $8,373,000.
    Security First Bank Of North Dakota's fee based income from loans was $117,000.
    Security First Bank Of North Dakota's net income from loans was $2,430,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $330
    Provision for credit losses $1,229
    Total noninterest expense $5,767
    Salaries and employee benefits $4,124
    Premises and equipment expense $349
    Additional noninterest expense $1,294
    Applicable income taxes $0
    Net charge-offs $540
    Cash dividends $772

    Security First Bank Of North Dakota's interest expense for loans was $330,000.
    Security First Bank Of North Dakota's payroll and benefits expense were $4,124,000.
    Security First Bank Of North Dakota's property, plant and equipment expenses $349,000.

    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 1.0%
    HELOC loans 13.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.2%
    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 $153,870
    Deposits held in domestic offices $153,870
    Deposits by Individuals, partnerships, and corporations $140,946
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $12,924
    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 $75,290
    Demand deposits $37,546
    Nontransaction accounts $78,580
    Money market deposit accounts (MMDAs) $27,835
    Other savings deposits (excluding MMDAs) $20,662
    Total time deposits $30,083
    Total time and savings deposits $116,324
    Noninterest-bearing deposits $33,808
    Interest-bearing deposits $120,062
    Retail deposits $142,069
    IRAs and Keogh plan accounts $2,042
    Brokered deposits $3,738
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $182,978
    Cash & Balances due from depository institutions $11,033
    Interest-bearing balances $8,698
    Total securities $9,330
    Federal funds sold & reverse repurchase $1,095
    Net loans and leases $151,612
    Loan and leases loss allowance $3,290
    Trading account assets $0
    Bank premises and fixed assets $2,708
    Other real estate owned $0
    Goodwill and other intangibles $1,244
    All other assets $5,956

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $182,978
    Total Liabilities $157,625
    Total deposits $153,870
    Interest-bearing deposits $120,062
    Deposits held in domestic offices $153,870
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $917
    Trading liabilities $0
    Other borrowed funds $772
    Subordinated debt $0
    All other liabilities $2,066

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $151,612
    Loan and leases loss allowance $3,290
    Total loans and leases (domestic) $154,902
    All real estate loans $98,022
    Real estate loans in domestic offices $98,022
    Construction and development loans $10,451
    Residential 1-4 family construction $5,119
    Other construction, all land development and other land $5,332
    Loans secured by nonfarm nonresidential properties $42,050
    Nonfarm nonresidential secured by owner-occupied properties $23,594
    Commercial real estate & other non-farm, non-residential $18,456
    Multifamily residential real estate $6,398
    1-4 family residential loans $21,706
    Farmland loans $17,417
    Loans held in foreign offices $0
    Farm loans $29,712
    Commercial and industrial loans $21,463
    To non-U.S. addressees $0
    Loans to individuals $3,952
    Credit card loans $478
    Related Plans $95
    Consumer Auto Loans $2,006
    Other loans to individuals $1,373
    All other loans & leases $1,753
    Loans to foreign governments and official institutions $0
    Other loans $1,020
    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

    Security First Bank of North Dakota had $151,612,000 of loans outstanding in 2018. $98,022,000 of loans were in real estate loans. $10,451,000 of loans were in development loans. $6,398,000 of loans were in multifamily mortgage loans. $21,706,000 of loans were in 1-4 family mortgage loans. $29,712,000 of loans were in farm loans. $478,000 of loans were in credit card loans. $2,006,000 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 88 $18,676 $212,227
    Nonfarm, nonresidential loans - <$100k 10 $353 $35,300
    Nonfarm, nonresidential loans - $100-250k 39 $4,708 $120,718
    Nonfarm, nonresidential loans - $250k-1MM 39 $13,615 $349,103
    Commercial & Industrial, US addressed loans - <$1MM 273 $12,862 $47,114
    Commercial & Industrial, US addressed loans - <$100k 209 $4,036 $19,311
    Commercial & Industrial, US addressed loans - $100-250k 39 $3,678 $94,308
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $5,148 $205,920
    Farmland loans - <$1MM 115 $14,520 $126,261
    Farmland loans - <$100k 38 $1,495 $39,342
    Farmland loans - $100-250k 51 $5,594 $109,686
    Farmland loans - $250k-1MM 26 $7,431 $285,808
    Agriculture operations loans - <$1MM 473 $21,614 $45,696
    Agriculture operations loans - <$100k 394 $8,246 $20,929
    Agriculture operations loans - $100-250k 45 $4,314 $95,867
    Agriculture operations loans - $250k-1MM 34 $9,054 $266,294