Alliance Bank Mortgage Rates, Fees & Info

Lake City, MN

LEI: 549300SKSQ3IYUXJCH36

Tax ID: 41-0362490

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Alliance Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Alliance Bank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, New Ulm, Mankato, Red Wing, and Rochester among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Alliance 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. Alliance Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.79%	4/21/24
30 Year Conventional Refi	6.76%	4/21/24
30 Year Cash-out Refi	6.76%	4/21/24
15 Year Conventional Purchase	6.00%	4/21/24
15 Year Conventional Refi	6.03%	4/21/24
15 Year Cash-out Refi	6.03%	4/21/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Alliance Bank Mortgage Calculator

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This is not an official calculator from Alliance Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

294

Origination Dollar Volume (All Markets)

$88,150,000

Employee count

115

Awards

Alliance Bank 30 Year Conventional Loans bronze

Show all (1) awards

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
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	103	$50,375,000	$489,078	$3,662	3.08%
New Ulm, MN (FHA\|USDA\|VA)	57	$8,725,000	$153,070	$3,223	2.93%
Outside of Metro Areas	31	$6,945,000	$224,032	$3,345	2.97%
MANKATO, MN (FHA\|USDA\|VA)	32	$5,740,000	$179,375	$3,589	2.79%
Red Wing, MN (FHA\|USDA\|VA)	22	$4,900,000	$222,727	$4,191	2.93%
ROCHESTER, MN (FHA\|USDA\|VA)	25	$4,165,000	$166,600	$3,716	2.63%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	4	$2,490,000	$622,500	$4,501	3.03%
Brainerd, MN (FHA\|USDA\|VA)	2	$1,360,000	$680,000	$5,909	2.87%
Kapaa, HI (FHA\|USDA\|VA)	1	$595,000	$595,000	$11,098	2.50%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	2	$410,000	$205,000	$4,615	2.38%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$405,000	$405,000	$3,750	2.50%
Hutchinson, MN (FHA\|USDA\|VA)	2	$360,000	$180,000	$3,124	3.69%
Bozeman, MT (FHA\|USDA\|VA)	1	$355,000	$355,000	$2,490	2.50%
Fairmont, MN (FHA\|USDA\|VA)	2	$290,000	$145,000	$2,604	2.38%
EAU CLAIRE, WI (FHA\|USDA\|VA)	2	$270,000	$135,000	$3,111	2.44%
Owatonna, MN (FHA\|USDA\|VA)	1	$195,000	$195,000	$4,806	3.00%
ST. CLOUD, MN (FHA\|USDA\|VA)	2	$190,000	$95,000	$2,615	3.13%
Winona, MN (FHA\|USDA\|VA)	1	$135,000	$135,000	$0	4.00%
CEDAR RAPIDS, IA (FHA\|USDA\|VA)	1	$95,000	$95,000	$4,615	2.25%
Faribault-Northfield, MN (FHA\|USDA\|VA)	1	$75,000	$75,000	$365	4.25%
Marshall, MN (FHA\|USDA\|VA)	1	$75,000	$75,000	$2,765	3.00%

Alliance Bank's top markets include Minneapolis, New Ulm, Mankato, Red Wing, and Rochester among others.

Their top states include:

Minnesota (FHA|USDA|VA)

Wisconsin (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Hawaii (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	294	$88,150,000	$299,830	$3,583	2.94%

For 2021, Alliance Bank's most frequently originated type of loan was Conventional, with 294 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	109	$29,525,000	$270,872	$3,270	2.69%
Home Purchase	89	$36,615,000	$411,404	$3,991	3.24%
Cash Out Refi	86	$19,730,000	$229,419	$3,706	2.87%
Other	9	$2,255,000	$250,556	$2,668	3.58%
Home Improvement	1	$25,000	$25,000	$0	4.25%

For 2021, Alliance Bank's most frequently cited loan purpose was Refi, with 109 originations. The 2nd most popular reason was Home Purchase, with 89 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	124	$29,150,000	$235,081	$3,922	3.06%
15 Year	92	$17,000,000	$184,783	$3,321	2.31%
5 Year	38	$25,190,000	$662,895	$0	3.66%
20 Year	21	$5,305,000	$252,619	$3,846	2.83%
Other	13	$9,415,000	$724,231	$1,890	3.94%
1 Year	3	$325,000	$108,333	$1,120	4.33%
3 Year	3	$1,765,000	$588,333	$0	3.79%

For 2021, Alliance Bank's most frequently cited loan duration was 30 Year, with 124 originations. The 2nd most popular length was 15 Year, with 92 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	104	$15,210,000	$146,250
$2k-3k	80	$18,220,000	$227,750
$<1k	32	$7,960,000	$248,750
$3k-4k	24	$8,100,000	$337,500
$4k-5k	6	$2,620,000	$436,667
$5k+	4	$1,970,000	$492,500

Alliance Bank's average total fees were $3,922, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 104 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	94	$23,990,000	$255,213
<2.5%	92	$17,390,000	$189,022
3-4%	91	$43,745,000	$480,714
4-5%	16	$2,660,000	$166,250

During 2021, Alliance Bank's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 94 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	110	$16,200,000	$147,273	$3,236	2.81%
$200k-400k	105	$28,765,000	$273,952	$3,966	2.91%
$100,000 or less	37	$2,675,000	$72,297	$2,353	3.13%
$400k-600k	26	$12,470,000	$479,615	$5,159	2.94%
$1MM+	12	$24,640,000	$2,053,333	$0	3.71%
$600k-1MM	4	$3,400,000	$850,000	$6,712	3.53%

2021 saw Alliance Bank place emphasis on $100k-200k loans with 110 originations, totaling $16,200,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	54	$8,260,000	$152,963	$3,353	2.77%
$100k-150k	53	$12,515,000	$236,132	$3,751	2.90%
$150k-250k	44	$10,570,000	$240,227	$3,902	2.75%
$75k-100k	42	$8,110,000	$193,095	$3,271	2.89%
$250k+	34	$12,980,000	$381,765	$4,628	2.93%
$50k or less	31	$3,415,000	$110,161	$2,882	2.98%

Alliance Bank lent most frequently to those with incomes in the $50k-75k range, with 54 originations. The second most popular income band? $100k-150k, with 53 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	88	$17,670,000	$200,795	$3,451	2.86%
30-36%	53	$11,585,000	$218,585	$3,852	2.92%
<20%	47	$11,175,000	$237,766	$3,666	2.63%
40%	8	$1,070,000	$133,750	$3,092	3.31%
37%	8	$1,760,000	$220,000	$3,991	2.95%
38%	7	$1,935,000	$276,429	$3,542	3.02%
36%	7	$1,825,000	$260,714	$4,021	2.43%
43%	7	$1,425,000	$203,571	$2,902	2.75%
45%	7	$1,695,000	$242,143	$3,775	2.71%
39%	6	$1,880,000	$313,333	$3,400	3.02%
42%	5	$715,000	$143,000	$3,238	3.15%
41%	4	$680,000	$170,000	$3,426	2.66%
>60%	4	$870,000	$217,500	$0	3.00%
46%	4	$1,010,000	$252,500	$3,433	3.29%
48%	3	$795,000	$265,000	$3,143	2.71%
44%	2	$500,000	$250,000	$4,858	2.75%
47%	1	$75,000	$75,000	$365	4.25%
50-60%	1	$235,000	$235,000	$0	4.00%

Alliance Bank lent most frequently to those with DTI ratios of 20-30%, with 88 originations. The next most common DTI ratio? 30-36%, with 53 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	223	$48,215,000	$216,211	$3,587	2.82%
Not applicable	32	$31,250,000	$976,563	$0	3.68%
Not provided	34	$7,650,000	$225,000	$3,582	3.06%
Asian	3	$655,000	$218,333	$3,402	3.17%
American Indian	2	$380,000	$190,000	$3,351	3.25%

Approval Rates

Total approvals of all applications
92.78%

Alliance Bank has an average approval rate.

Pick Rate

Approvals leading to origination
77.55%

Alliance Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	294	$88,150,000	$299,830

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	294	$88,150,000	$299,830

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	37	$5,435,000	$146,892	$3,012	2.74%
40-60%	68	$21,270,000	$312,794	$3,470	2.85%
60-80%	128	$38,270,000	$298,984	$3,670	2.92%
80-100%	56	$22,670,000	$404,821	$4,153	3.16%
Over 100%	2	$320,000	$160,000	$1,110	3.88%
Under 20%	3	$185,000	$61,667	$1,132	3.63%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
Alliance Data Card Services	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	50.0%
Alliance Data Card Services	Other type of mortgage	Trouble during payment process	1	50.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Alliance Bank	105 East Lyon Avenue Lake City, MN 55041	Full Service B&M	$90,964
Alliance Bank	112 Broadway Street Hanska, MN 56041	Full Service B&M	$19,704
Alliance Bank	20 West Main Street Madelia, MN 56062	Full Service B&M	$22,117
Alliance Bank	322 North Minnesota Street New Ulm, MN 56073	Full Service B&M	$150,475
Alliance Bank	55 E Fifth St, Suite 115 Saint Paul, MN 55101	Full Service B&M	$356,523
Alliance Bank	840 Technology Drive Red Wing, MN 55066	Full Service B&M	$30,212

For 2021, Alliance Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$27,394
Net interest income	$24,933
Total noninterest income	$5,455
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$590
Trading account gains and fees	$0
Additional Noninterest Income	$4,865
Pre-tax net operating income	$12,702
Securities gains (or losses, -)	$0
Income before extraordinary items	$8,955
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$8,955
Minority interest net income	$0
Net income	$8,955
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$8,955

Alliance Bank's gross interest income from loans was $27,394,000.
Alliance Bank's net interest income from loans was $24,933,000.
Alliance Bank's fee based income from loans was $590,000.
Alliance Bank's net income from loans was $8,955,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,461
Provision for credit losses	$-297
Total noninterest expense	$17,983
Salaries and employee benefits	$11,640
Premises and equipment expense	$2,130
Additional noninterest expense	$4,213
Applicable income taxes	$3,747
Net charge-offs	$-101
Cash dividends	$4,000

Alliance Bank's interest expense for loans was $2,461,000.
Alliance Bank's payroll and benefits expense were $11,640,000.
Alliance Bank's property, plant and equipment expenses $2,130,000.

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	$683,784
Deposits held in domestic offices	$683,784
Deposits by Individuals, partnerships, and corporations	$653,876
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$29,604
Deposits by Commercial banks and other depository institutions in U.S.	$304
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$322,135
Demand deposits	$258,919
Nontransaction accounts	$361,649
Money market deposit accounts (MMDAs)	$197,567
Other savings deposits (excluding MMDAs)	$41,807
Total time deposits	$122,275
Total time and savings deposits	$424,865
Noninterest-bearing deposits	$258,948
Interest-bearing deposits	$424,836
Retail deposits	$636,615
IRAs and Keogh plan accounts	$9,018
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$781,244
Cash & Balances due from depository institutions	$149,311
Interest-bearing balances	$141,544
Total securities	$114,348
Federal funds sold & reverse repurchase	$0
Net loans and leases	$498,872
Loan and leases loss allowance	$10,044
Trading account assets	$0
Bank premises and fixed assets	$6,833
Other real estate owned	$0
Goodwill and other intangibles	$3,636
All other assets	$8,244

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$781,244
Total Liabilities	$703,006
Total deposits	$683,784
Interest-bearing deposits	$424,836
Deposits held in domestic offices	$683,784
% insured (estimated)	$65
Federal funds purchased and repurchase agreements	$6,299
Trading liabilities	$0
Other borrowed funds	$8,000
Subordinated debt	$0
All other liabilities	$4,923

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$498,872
Loan and leases loss allowance	$10,044
Total loans and leases (domestic)	$508,916
All real estate loans	$360,028
Real estate loans in domestic offices	$360,028
Construction and development loans	$34,937
Residential 1-4 family construction	$4,944
Other construction, all land development and other land	$29,993
Loans secured by nonfarm nonresidential properties	$178,966
Nonfarm nonresidential secured by owner-occupied properties	$56,482
Commercial real estate & other non-farm, non-residential	$122,484
Multifamily residential real estate	$46,457
1-4 family residential loans	$41,373
Farmland loans	$58,295
Loans held in foreign offices	$0
Farm loans	$36,362
Commercial and industrial loans	$104,261
To non-U.S. addressees	$0
Loans to individuals	$5,438
Credit card loans	$0
Related Plans	$802
Consumer Auto Loans	$1,280
Other loans to individuals	$3,356
All other loans & leases	$2,941
Loans to foreign governments and official institutions	$0
Other loans	$2,272
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	$396
Non 1-4 family restructured loans & leases	$396
Total loans and leases (foreign)	$0

Alliance Bank had $498,872,000 of loans outstanding in 2021. $360,028,000 of loans were in real estate loans. $34,937,000 of loans were in development loans. $46,457,000 of loans were in multifamily mortgage loans. $41,373,000 of loans were in 1-4 family mortgage loans. $36,362,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,280,000 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	201	$42,279	$210,343
Nonfarm, nonresidential loans - <$100k	53	$5,297	$99,943
Nonfarm, nonresidential loans - $100-250k	75	$8,739	$116,520
Nonfarm, nonresidential loans - $250k-1MM	73	$28,243	$386,890
Commercial & Industrial, US addressed loans - <$1MM	569	$39,228	$68,942
Commercial & Industrial, US addressed loans - <$100k	325	$8,770	$26,985
Commercial & Industrial, US addressed loans - $100-250k	110	$8,185	$74,409
Commercial & Industrial, US addressed loans - $250k-1MM	134	$22,273	$166,216
Farmland loans - <$1MM	177	$27,302	$154,249
Farmland loans - <$100k	53	$2,438	$46,000
Farmland loans - $100-250k	72	$9,961	$138,347
Farmland loans - $250k-1MM	52	$14,903	$286,596
Agriculture operations loans - <$1MM	316	$20,413	$64,598
Agriculture operations loans - <$100k	219	$5,473	$24,991
Agriculture operations loans - $100-250k	62	$6,916	$111,548
Agriculture operations loans - $250k-1MM	35	$8,024	$229,257