American Bank & Trust Mortgage Rates, Fees & Info

Wessington Springs, SD

LEI: 549300T03X096VF60C57

Tax ID: 46-0108140

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Mortgage Data

Bank Data

Review & Overview

American Bank & Trust is a smaller bank specializing in Home Purchase loans. American Bank & Trust 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: Sioux Falls, Pierre, Huron, Spearfish, and Brookings among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

American Bank & Trust 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.29% 11/21/24
30 Year Conventional Refi 6.18% 11/21/24
30 Year Cash-out Refi 6.38% 11/21/24
30 Year FHA Purchase 7.05% 11/21/24
30 Year FHA Refi 6.27% 11/21/24
30 Year VA Purchase 6.18% 11/21/24
30 Year USDA Purchase 6.66% 11/21/24
15 Year Conventional Purchase 5.93% 11/21/24
15 Year Conventional Refi 6.16% 11/21/24
15 Year Cash-out Refi 6.16% 11/21/24
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.

American Bank & Trust Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from American Bank & Trust. 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

247

Origination Dollar Volume (All Markets)

$53,305,000

Employee count

139

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
SIOUX FALLS, SD (FHA|USDA|VA) 122 $30,190,000 $247,459 $0 0.00%
Pierre, SD (FHA|USDA|VA) 34 $6,750,000 $198,529 $0 0.00%
Outside of Metro Areas 38 $6,150,000 $161,842 $0 0.00%
Huron, SD (FHA|USDA|VA) 34 $5,240,000 $154,118 $0 0.00%
Spearfish, SD (FHA|USDA|VA) 1 $865,000 $865,000 $0 0.00%
Brookings, SD (FHA|USDA|VA) 2 $670,000 $335,000 $0 0.00%
Yankton, SD (FHA|USDA|VA) 2 $610,000 $305,000 $0 0.00%
Aberdeen, SD (FHA|USDA|VA) 3 $495,000 $165,000 $0 0.00%
Fergus Falls, MN (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
Watertown, SD (FHA|USDA|VA) 3 $435,000 $145,000 $0 0.00%
Mitchell, SD (FHA|USDA|VA) 2 $390,000 $195,000 $0 0.00%
Gillette, WY (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
RAPID CITY, SD (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
American Bank & Trust's top markets include Sioux Falls, Pierre, Huron, Spearfish, and Brookings among others.

Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 215 $48,045,000 $223,465 $0 0.00%
    USDA 21 $2,845,000 $135,476 $0 0.00%
    FHA 7 $1,415,000 $202,143 $0 0.00%
    VA 4 $1,000,000 $250,000 $0 0.00%

    For 2018, American Bank & Trust's most frequently originated type of loan was Conventional, with 215 originations. Their 2nd most popular type was USDA, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 204 $45,480,000 $222,941 $0 0.00%
    Cash Out Refi 26 $4,970,000 $191,154 $0 0.00%
    Refi 12 $2,140,000 $178,333 $0 0.00%
    Home Improvement 5 $715,000 $143,000 $0 0.00%

    For 2018, American Bank & Trust's most frequently cited loan purpose was Home Purchase, with 204 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 247 $53,305,000 $215,810 $0 0.00%

    For 2018, American Bank & Trust's most frequently cited loan duration was Other, with 247 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 100 $15,140,000 $151,400 $0 0.00%
    $200k-400k 91 $24,795,000 $272,473 $0 0.00%
    $100,000 or less 36 $2,210,000 $61,389 $0 0.00%
    $400k-600k 18 $7,940,000 $441,111 $0 0.00%
    $1MM+ 1 $2,355,000 $2,355,000 $0 0.00%
    $600k-1MM 1 $865,000 $865,000 $0 0.00%

    2018 saw American Bank & Trust place emphasis on $100k-200k loans with 100 originations, totaling $15,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 59 $9,575,000 $162,288 $0 0.00%
    $100k-150k 54 $14,370,000 $266,111 $0 0.00%
    $75k-100k 45 $9,455,000 $210,111 $0 0.00%
    $50k or less 39 $4,615,000 $118,333 $0 0.00%
    $150k-250k 27 $7,175,000 $265,741 $0 0.00%
    $250k+ 18 $7,300,000 $405,556 $0 0.00%

    American Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 59 originations. The second most popular income band? $100k-150k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 247 $53,305,000 $215,810 $0 0.00%

    American Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 247 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 220 $47,810,000 $217,318 $0 0.00%
    Not provided 16 $3,450,000 $215,625 $0 0.00%
    Asian 4 $960,000 $240,000 $0 0.00%
    Not applicable 5 $815,000 $163,000 $0 0.00%
    Black 1 $155,000 $155,000 $0 0.00%
    American Indian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.28%

    American Bank & Trust 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
    84.21%

    American Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 247 $53,305,000 $215,810

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $175,000 $175,000
    Single Family (1-4 Units):Site-Built 246 $53,130,000 $215,976

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    AMERIS BANCORP Other type of mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    American Bank & Trust 1820 Dakota Avneue South Huron, SD 57350 Full Service B&M $94,900
    American Bank & Trust 100 Main Street Alpena, SD 57312 Full Service B&M $8,360
    American Bank & Trust 120 East Main Street Wessington Springs, SD 57382 Full Service B&M $69,527
    American Bank & Trust 131 North Broadway Miller, SD 57362 Full Service B&M $65,640
    American Bank & Trust 200 East 10th Street Sioux Falls, SD 57104 Full Service B&M $72,725
    American Bank & Trust 212 Calumet Avenue, S.E. De Smet, SD 57231 Full Service B&M $74,880
    American Bank & Trust 265 Commercial Avenue, Sw Wolsey, SD 57384 Full Service B&M $31,377
    American Bank & Trust 3405 S Sycamore Ave Sioux Falls, SD 57110 Full Service B&M $8,303
    American Bank & Trust 4 Main Street Mellette, SD 57461 Full Service B&M $30,309
    American Bank & Trust 700 East Sioux Avenue Pierre, SD 57501 Full Service B&M $160,814

    For 2018, American Bank & Trust had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,953
    Net interest income $29,775
    Total noninterest income $6,241
    Gross Fiduciary activities income $695
    Service charges on deposit accounts $884
    Trading account gains and fees $0
    Additional Noninterest Income $4,662
    Pre-tax net operating income $12,783
    Securities gains (or losses, -) $-6
    Income before extraordinary items $12,140
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,140
    Minority interest net income $0
    Net income $12,140
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,145

    American Bank & Trust's gross interest income from loans was $34,953,000.
    American Bank & Trust's net interest income from loans was $29,775,000.
    American Bank & Trust's fee based income from loans was $884,000.
    American Bank & Trust's net income from loans was $12,140,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,178
    Provision for credit losses $1,140
    Total noninterest expense $22,093
    Salaries and employee benefits $13,006
    Premises and equipment expense $2,537
    Additional noninterest expense $6,550
    Applicable income taxes $637
    Net charge-offs $-44
    Cash dividends $6,000

    American Bank & Trust's interest expense for loans was $5,178,000.
    American Bank & Trust's payroll and benefits expense were $13,006,000.
    American Bank & Trust's property, plant and equipment expenses $2,537,000.

    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 3.0%
    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 $769,604
    Deposits held in domestic offices $769,604
    Deposits by Individuals, partnerships, and corporations $646,837
    Deposits by U.S. Government $1,053
    Deposits by States and political subdivisions in the U.S. $121,714
    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 $61,779
    Demand deposits $36,481
    Nontransaction accounts $707,825
    Money market deposit accounts (MMDAs) $106,503
    Other savings deposits (excluding MMDAs) $387,945
    Total time deposits $213,376
    Total time and savings deposits $733,123
    Noninterest-bearing deposits $169,768
    Interest-bearing deposits $599,836
    Retail deposits $707,341
    IRAs and Keogh plan accounts $18,811
    Brokered deposits $8,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $907,505
    Cash & Balances due from depository institutions $54,099
    Interest-bearing balances $39,359
    Total securities $127,893
    Federal funds sold & reverse repurchase $606
    Net loans and leases $674,143
    Loan and leases loss allowance $7,672
    Trading account assets $0
    Bank premises and fixed assets $12,456
    Other real estate owned $20
    Goodwill and other intangibles $9,232
    All other assets $29,056

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $907,504
    Total Liabilities $820,679
    Total deposits $769,604
    Interest-bearing deposits $599,836
    Deposits held in domestic offices $769,604
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $7,160
    Trading liabilities $0
    Other borrowed funds $37,040
    Subordinated debt $0
    All other liabilities $6,875

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $674,143
    Loan and leases loss allowance $7,672
    Total loans and leases (domestic) $681,815
    All real estate loans $319,990
    Real estate loans in domestic offices $319,990
    Construction and development loans $26,625
    Residential 1-4 family construction $3,336
    Other construction, all land development and other land $23,289
    Loans secured by nonfarm nonresidential properties $139,424
    Nonfarm nonresidential secured by owner-occupied properties $31,592
    Commercial real estate & other non-farm, non-residential $107,832
    Multifamily residential real estate $18,246
    1-4 family residential loans $23,917
    Farmland loans $111,778
    Loans held in foreign offices $0
    Farm loans $217,994
    Commercial and industrial loans $106,451
    To non-U.S. addressees $0
    Loans to individuals $12,363
    Credit card loans $132
    Related Plans $387
    Consumer Auto Loans $6,156
    Other loans to individuals $5,688
    All other loans & leases $25,017
    Loans to foreign governments and official institutions $0
    Other loans $0
    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

    American Bank & Trust had $674,143,000 of loans outstanding in 2018. $319,990,000 of loans were in real estate loans. $26,625,000 of loans were in development loans. $18,246,000 of loans were in multifamily mortgage loans. $23,917,000 of loans were in 1-4 family mortgage loans. $217,994,000 of loans were in farm loans. $132,000 of loans were in credit card loans. $6,156,000 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 164 $25,751 $157,018
    Nonfarm, nonresidential loans - <$100k 62 $2,262 $36,484
    Nonfarm, nonresidential loans - $100-250k 60 $7,305 $121,750
    Nonfarm, nonresidential loans - $250k-1MM 42 $16,184 $385,333
    Commercial & Industrial, US addressed loans - <$1MM 483 $36,142 $74,828
    Commercial & Industrial, US addressed loans - <$100k 306 $7,047 $23,029
    Commercial & Industrial, US addressed loans - $100-250k 106 $10,621 $100,198
    Commercial & Industrial, US addressed loans - $250k-1MM 71 $18,474 $260,197
    Farmland loans - <$1MM 284 $44,983 $158,391
    Farmland loans - <$100k 65 $2,791 $42,938
    Farmland loans - $100-250k 114 $14,720 $129,123
    Farmland loans - $250k-1MM 105 $27,472 $261,638
    Agriculture operations loans - <$1MM 616 $53,466 $86,795
    Agriculture operations loans - <$100k 311 $6,937 $22,305
    Agriculture operations loans - $100-250k 187 $19,798 $105,872
    Agriculture operations loans - $250k-1MM 118 $26,731 $226,534