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, Refi, and Cash Out Refi loans. Security First Bank Of North Dakota has a high proportion of conventional loans. Their top markets by origination volume include: Bismarck, Phoenix, Grand Forks, Naples, and Minneapolis among others. We have data for 13 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

145

Origination Dollar Volume (All Markets)

$41,425,000

Employee count

37

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) 125 $31,535,000 $252,280 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $2,670,000 $667,500 $0 0.00%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $2,055,000 $2,055,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $790,000 $395,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $620,000 $310,000 $0 0.00%
Outside of Metro Areas 3 $615,000 $205,000 $0 0.00%
FARGO, ND-MN (FHA|USDA|VA) 2 $390,000 $195,000 $0 0.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
Kapaa, HI (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Dickinson, ND (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
DOVER, DE (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Williston, ND (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Security First Bank Of North Dakota's top markets include Bismarck, Phoenix, Grand Forks, Naples, and Minneapolis among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 145 $41,425,000 $285,690 $0 0.00%

    For 2021, Security First Bank Of North Dakota's most frequently originated type of loan was Conventional, with 145 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 54 $18,520,000 $342,963 $0 0.00%
    Refi 52 $13,470,000 $259,038 $0 0.00%
    Cash Out Refi 37 $9,315,000 $251,757 $0 0.00%
    Home Improvement 1 $85,000 $85,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    For 2021, Security First Bank Of North Dakota's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 145 $41,425,000 $285,690 $0 0.00%

    For 2021, Security First Bank Of North Dakota's most frequently cited loan duration was Other, with 145 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 67 $18,565,000 $277,090 $0 0.00%
    $100k-200k 39 $5,915,000 $151,667 $0 0.00%
    $400k-600k 22 $10,450,000 $475,000 $0 0.00%
    $100,000 or less 13 $855,000 $65,769 $0 0.00%
    $1MM+ 3 $4,835,000 $1,611,667 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2021 saw Security First Bank Of North Dakota place emphasis on $200k-400k loans with 67 originations, totaling $18,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $7,720,000 $241,250 $0 0.00%
    $150k-250k 31 $11,055,000 $356,613 $0 0.00%
    $75k-100k 26 $6,680,000 $256,923 $0 0.00%
    $50k-75k 22 $3,570,000 $162,273 $0 0.00%
    $250k+ 12 $4,450,000 $370,833 $0 0.00%
    $50k or less 11 $1,415,000 $128,636 $0 0.00%

    Security First Bank Of North Dakota lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $150k-250k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 145 $41,425,000 $285,690 $0 0.00%

    Security First Bank Of North Dakota lent most frequently to those with DTI ratios of Exempt%, with 145 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 136 $35,660,000 $262,206 $0 0.00%
    Not applicable 9 $5,765,000 $640,556 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.55%

    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
    90.34%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 145 $41,425,000 $285,690

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    145 $41,425,000 $285,690

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Security National Financial Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    Security National Financial Corp Conventional home mortgage Closing on a mortgage 1 7.1%
    Security National Financial Corp Conventional home mortgage Incorrect information on your report 1 7.1%
    Security National Financial Corp Conventional home mortgage Trouble during payment process 5 35.7%
    Security National Financial Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    Security National Financial Corp FHA mortgage Trouble during payment process 2 14.3%
    Security National Financial Corp Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 14.3%
    Security National Financial Corp VA mortgage Closing on a mortgage 1 7.1%

    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 $54,793
    Security First Bank of North Dakota 614 West Main Street Mandan, ND 58554 Full Service B&M $50,649
    Security First Bank of North Dakota 700 Ash Avenue New Salem, ND 58563 Full Service B&M $46,794
    Security First Bank of North Dakota Main Street And Center Avenue Center, ND 58530 Full Service B&M $38,483

    For 2021, Security First Bank Of North Dakota had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,757
    Net interest income $8,433
    Total noninterest income $1,945
    Gross Fiduciary activities income $3
    Service charges on deposit accounts $82
    Trading account gains and fees $0
    Additional Noninterest Income $1,860
    Pre-tax net operating income $3,541
    Securities gains (or losses, -) $38
    Income before extraordinary items $3,579
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,579
    Minority interest net income $0
    Net income $3,579
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,541

    Security First Bank Of North Dakota's gross interest income from loans was $8,757,000.
    Security First Bank Of North Dakota's net interest income from loans was $8,433,000.
    Security First Bank Of North Dakota's fee based income from loans was $82,000.
    Security First Bank Of North Dakota's net income from loans was $3,579,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $324
    Provision for credit losses $0
    Total noninterest expense $6,837
    Salaries and employee benefits $5,199
    Premises and equipment expense $282
    Additional noninterest expense $1,356
    Applicable income taxes $0
    Net charge-offs $-36
    Cash dividends $3,210

    Security First Bank Of North Dakota's interest expense for loans was $324,000.
    Security First Bank Of North Dakota's payroll and benefits expense were $5,199,000.
    Security First Bank Of North Dakota's property, plant and equipment expenses $282,000.

    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 $208,437
    Deposits held in domestic offices $208,437
    Deposits by Individuals, partnerships, and corporations $193,813
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $14,624
    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 $114,963
    Demand deposits $58,146
    Nontransaction accounts $93,474
    Money market deposit accounts (MMDAs) $37,281
    Other savings deposits (excluding MMDAs) $32,121
    Total time deposits $24,072
    Total time and savings deposits $150,291
    Noninterest-bearing deposits $58,146
    Interest-bearing deposits $150,291
    Retail deposits $203,770
    IRAs and Keogh plan accounts $2,014
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $240,373
    Cash & Balances due from depository institutions $8,456
    Interest-bearing balances $5,096
    Total securities $14,542
    Federal funds sold & reverse repurchase $51,725
    Net loans and leases $155,908
    Loan and leases loss allowance $3,551
    Trading account assets $0
    Bank premises and fixed assets $2,314
    Other real estate owned $0
    Goodwill and other intangibles $1,071
    All other assets $6,357

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $240,373
    Total Liabilities $212,106
    Total deposits $208,437
    Interest-bearing deposits $150,291
    Deposits held in domestic offices $208,437
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $1,424
    Trading liabilities $0
    Other borrowed funds $177
    Subordinated debt $0
    All other liabilities $2,068

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $155,908
    Loan and leases loss allowance $3,551
    Total loans and leases (domestic) $159,459
    All real estate loans $108,357
    Real estate loans in domestic offices $108,357
    Construction and development loans $13,227
    Residential 1-4 family construction $4,416
    Other construction, all land development and other land $8,811
    Loans secured by nonfarm nonresidential properties $53,595
    Nonfarm nonresidential secured by owner-occupied properties $33,347
    Commercial real estate & other non-farm, non-residential $20,248
    Multifamily residential real estate $10,028
    1-4 family residential loans $12,694
    Farmland loans $18,813
    Loans held in foreign offices $0
    Farm loans $27,600
    Commercial and industrial loans $15,408
    To non-U.S. addressees $0
    Loans to individuals $4,721
    Credit card loans $546
    Related Plans $67
    Consumer Auto Loans $762
    Other loans to individuals $3,346
    All other loans & leases $3,373
    Loans to foreign governments and official institutions $0
    Other loans $1,770
    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 $712
    Non 1-4 family restructured loans & leases $712
    Total loans and leases (foreign) $0

    Security First Bank of North Dakota had $155,908,000 of loans outstanding in 2021. $108,357,000 of loans were in real estate loans. $13,227,000 of loans were in development loans. $10,028,000 of loans were in multifamily mortgage loans. $12,694,000 of loans were in 1-4 family mortgage loans. $27,600,000 of loans were in farm loans. $546,000 of loans were in credit card loans. $762,000 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 79 $19,728 $249,722
    Nonfarm, nonresidential loans - <$100k 10 $442 $44,200
    Nonfarm, nonresidential loans - $100-250k 28 $3,242 $115,786
    Nonfarm, nonresidential loans - $250k-1MM 41 $16,044 $391,317
    Commercial & Industrial, US addressed loans - <$1MM 194 $11,672 $60,165
    Commercial & Industrial, US addressed loans - <$100k 138 $2,517 $18,239
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,247 $86,423
    Commercial & Industrial, US addressed loans - $250k-1MM 30 $6,908 $230,267
    Farmland loans - <$1MM 97 $11,192 $115,381
    Farmland loans - <$100k 27 $1,014 $37,556
    Farmland loans - $100-250k 45 $4,739 $105,311
    Farmland loans - $250k-1MM 25 $5,439 $217,560
    Agriculture operations loans - <$1MM 374 $15,267 $40,821
    Agriculture operations loans - <$100k 306 $6,792 $22,196
    Agriculture operations loans - $100-250k 45 $4,185 $93,000
    Agriculture operations loans - $250k-1MM 23 $4,290 $186,522