American Bank & Trust Mortgage Rates, Fees & Info
Wessington Springs, SDLEI: 549300T03X096VF60C57
Tax ID: 46-0108140
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Bank Data
Review & Overview
American Bank & Trust is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. American Bank & Trust has a high proportion of conventional loans. They have a low ratio of USDA 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 Minneapolis among others. We have data for 19 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.29% | 4/18/24 |
| 30 Year Conventional Refi | 6.18% | 4/18/24 |
| 30 Year Cash-out Refi | 6.38% | 4/18/24 |
| 30 Year FHA Purchase | 7.05% | 4/18/24 |
| 30 Year FHA Refi | 6.27% | 4/18/24 |
| 30 Year VA Purchase | 6.18% | 4/18/24 |
| 30 Year USDA Purchase | 6.66% | 4/18/24 |
| 15 Year Conventional Purchase | 5.93% | 4/18/24 |
| 15 Year Conventional Refi | 6.16% | 4/18/24 |
| 15 Year Cash-out Refi | 6.16% | 4/18/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
368Origination Dollar Volume (All Markets)
$96,630,000Employee count
136Top 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) | 183 | $63,735,000 | $348,279 | $0 | 0.00% |
| Pierre, SD (FHA|USDA|VA) | 45 | $9,335,000 | $207,444 | $0 | 0.00% |
| Outside of Metro Areas | 59 | $9,025,000 | $152,966 | $0 | 0.00% |
| Huron, SD (FHA|USDA|VA) | 50 | $7,110,000 | $142,200 | $0 | 0.00% |
| Spearfish, SD (FHA|USDA|VA) | 5 | $1,685,000 | $337,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $0 | 0.00% |
| Mitchell, SD (FHA|USDA|VA) | 5 | $595,000 | $119,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 0.00% |
| Watertown, SD (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 0.00% |
| Yankton, SD (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| Jamestown, ND (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 0.00% |
| Aberdeen, SD (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Brookings, SD (FHA|USDA|VA) | 3 | $215,000 | $71,667 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Worthington, MN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against American Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2019, American Bank & Trust's most frequently originated type of loan was Conventional, with 314 originations. Their 2nd most popular type was USDA, with 25 originations.
Loan Reason
For 2019, American Bank & Trust's most frequently cited loan purpose was Home Purchase, with 181 originations. The 2nd most popular reason was Refi, with 93 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 368 | $96,630,000 | $262,582 | $0 | 0.00% |
For 2019, American Bank & Trust's most frequently cited loan duration was Other, with 368 originations.
Loan Sizing
2019 saw American Bank & Trust place emphasis on $200k-400k loans with 139 originations, totaling $38,495,000 in origination value.
Applicant Income
American Bank & Trust lent most frequently to those with incomes in the $75k-100k range, with 76 originations. The second most popular income band? $50k-75k, with 74 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 368 | $96,630,000 | $262,582 | $0 | 0.00% |
American Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 368 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.19%
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 origination86.96%
American Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 368 | $96,630,000 | $262,582 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERIS BANCORP | Conventional home mortgage | Closing on a mortgage | 1 | 7.1% |
| AMERIS BANCORP | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 14.3% |
| AMERIS BANCORP | VA mortgage | Trouble during payment process | 1 | 7.1% |
| AMERIS BANCORP | Other type of mortgage | Struggling to pay mortgage | 1 | 7.1% |
| AMERIS BANCORP | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 14.3% |
| AMERIS BANCORP | FHA mortgage | Trouble during payment process | 1 | 7.1% |
| AMERIS BANCORP | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
| AMERIS BANCORP | Conventional home mortgage | Struggling to pay mortgage | 1 | 7.1% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| American Bank & Trust | 100 Main Street Alpena, SD 57312 | Full Service B&M | $10,342 |
| American Bank & Trust | 120 East Main Street Wessington Springs, SD 57382 | Full Service B&M | $64,963 |
| American Bank & Trust | 131 North Broadway Miller, SD 57362 | Full Service B&M | $71,486 |
| American Bank & Trust | 1820 Dakota Avneue South, P.O. Box 838 Huron, SD 57350 | Full Service B&M | $116,556 |
| American Bank & Trust | 200 East 10th Street Sioux Falls, SD 57104 | Full Service B&M | $91,462 |
| American Bank & Trust | 201 S Ottowa St Iroquois, SD 57353 | Full Service B&M | $26,375 |
| American Bank & Trust | 212 Calumet Avenue, S.E. De Smet, SD 57231 | Full Service B&M | $79,435 |
| American Bank & Trust | 221 Main Street Stickney, SD 57375 | Full Service B&M | $53,071 |
| American Bank & Trust | 221 Main Street West Carthage, SD 57323 | Full Service B&M | $23,364 |
| American Bank & Trust | 265 Commercial Avenue, Sw Wolsey, SD 57384 | Full Service B&M | $31,266 |
| American Bank & Trust | 3405 S Sycamore Ave Sioux Falls, SD 57110 | Full Service B&M | $16,319 |
| American Bank & Trust | 4 Main Street Mellette, SD 57461 | Full Service B&M | $32,799 |
| American Bank & Trust | 700 East Sioux Avenue Pierre, SD 57501 | Full Service B&M | $165,838 |
For 2019, American Bank & Trust had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $42,065 |
| Net interest income | $34,024 |
| Total noninterest income | $7,302 |
| Gross Fiduciary activities income | $814 |
| Service charges on deposit accounts | $966 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,522 |
| Pre-tax net operating income | $16,606 |
| Securities gains (or losses, -) | $-25 |
| Income before extraordinary items | $15,698 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $15,698 |
| Minority interest net income | $0 |
| Net income | $15,698 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $15,721 |
American Bank & Trust's gross interest income from loans was $42,065,000.
American Bank & Trust's net interest income from loans was $34,024,000.
American Bank & Trust's fee based income from loans was $966,000.
American Bank & Trust's net income from loans was $15,698,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $8,041 |
| Provision for credit losses | $1,690 |
| Total noninterest expense | $23,030 |
| Salaries and employee benefits | $14,253 |
| Premises and equipment expense | $2,577 |
| Additional noninterest expense | $6,200 |
| Applicable income taxes | $883 |
| Net charge-offs | $527 |
| Cash dividends | $7,100 |
American Bank & Trust's interest expense for loans was $8,041,000.
American Bank & Trust's payroll and benefits expense were $14,253,000.
American Bank & Trust's property, plant and equipment expenses $2,577,000.
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 | $842,195 |
| Deposits held in domestic offices | $842,195 |
| Deposits by Individuals, partnerships, and corporations | $711,943 |
| Deposits by U.S. Government | $1,100 |
| Deposits by States and political subdivisions in the U.S. | $128,661 |
| Deposits by Commercial banks and other depository institutions in U.S. | $491 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $82,700 |
| Demand deposits | $29,941 |
| Nontransaction accounts | $759,495 |
| Money market deposit accounts (MMDAs) | $102,783 |
| Other savings deposits (excluding MMDAs) | $448,674 |
| Total time deposits | $208,038 |
| Total time and savings deposits | $812,254 |
| Noninterest-bearing deposits | $160,045 |
| Interest-bearing deposits | $682,150 |
| Retail deposits | $786,865 |
| IRAs and Keogh plan accounts | $18,089 |
| Brokered deposits | $5,975 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $985,338 |
| Cash & Balances due from depository institutions | $68,505 |
| Interest-bearing balances | $52,055 |
| Total securities | $163,470 |
| Federal funds sold & reverse repurchase | $401 |
| Net loans and leases | $700,209 |
| Loan and leases loss allowance | $8,835 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $9,962 |
| Other real estate owned | $10 |
| Goodwill and other intangibles | $9,205 |
| All other assets | $33,576 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $985,338 |
| Total Liabilities | $887,277 |
| Total deposits | $842,195 |
| Interest-bearing deposits | $682,150 |
| Deposits held in domestic offices | $842,195 |
| % insured (estimated) | $63 |
| Federal funds purchased and repurchase agreements | $7,623 |
| Trading liabilities | $0 |
| Other borrowed funds | $28,734 |
| Subordinated debt | $0 |
| All other liabilities | $8,725 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $700,209 |
| Loan and leases loss allowance | $8,835 |
| Total loans and leases (domestic) | $709,044 |
| All real estate loans | $329,775 |
| Real estate loans in domestic offices | $329,775 |
| Construction and development loans | $37,302 |
| Residential 1-4 family construction | $2,291 |
| Other construction, all land development and other land | $35,011 |
| Loans secured by nonfarm nonresidential properties | $138,530 |
| Nonfarm nonresidential secured by owner-occupied properties | $22,324 |
| Commercial real estate & other non-farm, non-residential | $116,206 |
| Multifamily residential real estate | $25,395 |
| 1-4 family residential loans | $31,389 |
| Farmland loans | $97,159 |
| Loans held in foreign offices | $0 |
| Farm loans | $202,530 |
| Commercial and industrial loans | $132,034 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $13,820 |
| Credit card loans | $123 |
| Related Plans | $207 |
| Consumer Auto Loans | $8,206 |
| Other loans to individuals | $5,284 |
| All other loans & leases | $30,885 |
| 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 $700,209,000 of loans outstanding in 2019. $329,775,000 of loans were in real estate loans. $37,302,000 of loans were in development loans. $25,395,000 of loans were in multifamily mortgage loans. $31,389,000 of loans were in 1-4 family mortgage loans. $202,530,000 of loans were in farm loans. $123,000 of loans were in credit card loans. $8,206,000 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 | 137 | $23,682 | $172,861 |
| Nonfarm, nonresidential loans - <$100k | 45 | $1,762 | $39,156 |
| Nonfarm, nonresidential loans - $100-250k | 50 | $6,617 | $132,340 |
| Nonfarm, nonresidential loans - $250k-1MM | 42 | $15,303 | $364,357 |
| Commercial & Industrial, US addressed loans - <$1MM | 475 | $37,566 | $79,086 |
| Commercial & Industrial, US addressed loans - <$100k | 291 | $7,257 | $24,938 |
| Commercial & Industrial, US addressed loans - $100-250k | 108 | $10,053 | $93,083 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 76 | $20,256 | $266,526 |
| Farmland loans - <$1MM | 270 | $39,980 | $148,074 |
| Farmland loans - <$100k | 67 | $2,633 | $39,299 |
| Farmland loans - $100-250k | 107 | $12,882 | $120,393 |
| Farmland loans - $250k-1MM | 96 | $24,465 | $254,844 |
| Agriculture operations loans - <$1MM | 615 | $50,176 | $81,587 |
| Agriculture operations loans - <$100k | 316 | $6,645 | $21,028 |
| Agriculture operations loans - $100-250k | 175 | $17,264 | $98,651 |
| Agriculture operations loans - $250k-1MM | 124 | $26,267 | $211,831 |