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 Refi, Home Purchase, 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, Watertown, and Yankton among others. We have data for 36 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.18% | 4/21/24 |
| 30 Year Cash-out Refi | 6.38% | 4/21/24 |
| 30 Year FHA Purchase | 7.05% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.18% | 4/21/24 |
| 30 Year USDA Purchase | 6.66% | 4/21/24 |
| 15 Year Conventional Purchase | 5.93% | 4/21/24 |
| 15 Year Conventional Refi | 6.16% | 4/21/24 |
| 15 Year Cash-out Refi | 6.16% | 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. | ||
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
791Origination Dollar Volume (All Markets)
$217,905,000Employee count
145Top 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) | 354 | $111,270,000 | $314,322 | $0 | 0.00% |
| Pierre, SD (FHA|USDA|VA) | 134 | $29,030,000 | $216,642 | $0 | 0.00% |
| Huron, SD (FHA|USDA|VA) | 117 | $21,945,000 | $187,564 | $0 | 0.00% |
| Outside of Metro Areas | 90 | $17,000,000 | $188,889 | $0 | 0.00% |
| Watertown, SD (FHA|USDA|VA) | 15 | $12,725,000 | $848,333 | $0 | 0.00% |
| Yankton, SD (FHA|USDA|VA) | 5 | $5,425,000 | $1,085,000 | $0 | 0.00% |
| RAPID CITY, SD (FHA|USDA|VA) | 14 | $3,800,000 | $271,429 | $0 | 0.00% |
| Spearfish, SD (FHA|USDA|VA) | 5 | $1,945,000 | $389,000 | $0 | 0.00% |
| Mitchell, SD (FHA|USDA|VA) | 7 | $1,625,000 | $232,143 | $0 | 0.00% |
| Aberdeen, SD (FHA|USDA|VA) | 7 | $1,505,000 | $215,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 5 | $1,255,000 | $251,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 2 | $1,020,000 | $510,000 | $0 | 0.00% |
| Brookings, SD (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $0 | 0.00% |
| Spirit Lake, IA (FHA|USDA|VA) | 3 | $955,000 | $318,333 | $0 | 0.00% |
| GREELEY, CO (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $0 | 0.00% |
| NAPA, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| Vermillion, SD (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| REDDING, CA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| DeRidder, LA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Similar Lenders
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Product Mix
For 2020, American Bank & Trust's most frequently originated type of loan was Conventional, with 739 originations. Their 2nd most popular type was USDA, with 28 originations.
Loan Reason
For 2020, American Bank & Trust's most frequently cited loan purpose was Refi, with 365 originations. The 2nd most popular reason was Home Purchase, with 213 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 791 | $217,905,000 | $275,480 | $0 | 0.00% |
For 2020, American Bank & Trust's most frequently cited loan duration was Other, with 791 originations.
Loan Sizing
2020 saw American Bank & Trust place emphasis on $200k-400k loans with 346 originations, totaling $96,260,000 in origination value.
Applicant Income
American Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 169 originations. The second most popular income band? $50k-75k, with 159 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 791 | $217,905,000 | $275,480 | $0 | 0.00% |
American Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 791 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.00%
American Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination89.89%
American Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 791 | $217,905,000 | $275,480 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| AMERIS BANCORP | Conventional home mortgage | Closing on a mortgage | 1 | 2.4% |
| AMERIS BANCORP | Conventional home mortgage | Credit monitoring or identity theft protection services | 1 | 2.4% |
| AMERIS BANCORP | FHA mortgage | Closing on a mortgage | 2 | 4.9% |
| AMERIS BANCORP | FHA mortgage | Trouble during payment process | 2 | 4.9% |
| AMERIS BANCORP | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 4.9% |
| AMERIS BANCORP | VA mortgage | Trouble during payment process | 6 | 14.6% |
| AMERIS BANCORP | VA mortgage | Struggling to pay mortgage | 1 | 2.4% |
| AMERIS BANCORP | Other type of mortgage | Trouble during payment process | 1 | 2.4% |
| AMERIS BANCORP | Conventional home mortgage | Struggling to pay mortgage | 3 | 7.3% |
| AMERIS BANCORP | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 4.9% |
| AMERIS BANCORP | Conventional home mortgage | Trouble during payment process | 20 | 48.8% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| American Bank & Trust | 100 Main Street Alpena, SD 57312 | Full Service B&M | $10,731 |
| American Bank & Trust | 120 East Main Street Wessington Springs, SD 57382 | Full Service B&M | $67,903 |
| American Bank & Trust | 131 North Broadway Miller, SD 57362 | Full Service B&M | $78,937 |
| American Bank & Trust | 1820 Dakota Avneue South, P.O. Box 838 Huron, SD 57350 | Full Service B&M | $128,421 |
| American Bank & Trust | 200 East 10th Street Sioux Falls, SD 57104 | Full Service B&M | $122,857 |
| American Bank & Trust | 201 S Ottowa St Iroquois, SD 57353 | Full Service B&M | $26,754 |
| American Bank & Trust | 212 Calumet Avenue, S.E. De Smet, SD 57231 | Full Service B&M | $89,013 |
| American Bank & Trust | 221 Main Street Stickney, SD 57375 | Full Service B&M | $56,743 |
| American Bank & Trust | 221 Main Street West Carthage, SD 57323 | Full Service B&M | $24,303 |
| American Bank & Trust | 265 Commercial Avenue, Sw Wolsey, SD 57384 | Full Service B&M | $32,656 |
| American Bank & Trust | 3405 S Sycamore Ave Sioux Falls, SD 57110 | Full Service B&M | $22,278 |
| American Bank & Trust | 4 Main Street Mellette, SD 57461 | Full Service B&M | $35,567 |
| American Bank & Trust | 700 East Sioux Avenue Pierre, SD 57501 | Full Service B&M | $196,138 |
For 2020, American Bank & Trust had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $42,262 |
| Net interest income | $37,052 |
| Total noninterest income | $11,206 |
| Gross Fiduciary activities income | $835 |
| Service charges on deposit accounts | $696 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,675 |
| Pre-tax net operating income | $17,883 |
| Securities gains (or losses, -) | $1,043 |
| Income before extraordinary items | $18,041 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $18,041 |
| Minority interest net income | $0 |
| Net income | $18,041 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $17,050 |
American Bank & Trust's gross interest income from loans was $42,262,000.
American Bank & Trust's net interest income from loans was $37,052,000.
American Bank & Trust's fee based income from loans was $696,000.
American Bank & Trust's net income from loans was $18,041,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,210 |
| Provision for credit losses | $4,451 |
| Total noninterest expense | $25,924 |
| Salaries and employee benefits | $15,890 |
| Premises and equipment expense | $2,407 |
| Additional noninterest expense | $7,627 |
| Applicable income taxes | $885 |
| Net charge-offs | $146 |
| Cash dividends | $8,240 |
American Bank & Trust's interest expense for loans was $5,210,000.
American Bank & Trust's payroll and benefits expense were $15,890,000.
American Bank & Trust's property, plant and equipment expenses $2,407,000.
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 | 0.3% |
| 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 | $974,352 |
| Deposits held in domestic offices | $974,352 |
| Deposits by Individuals, partnerships, and corporations | $817,829 |
| Deposits by U.S. Government | $1,594 |
| Deposits by States and political subdivisions in the U.S. | $154,929 |
| 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 | $104,419 |
| Demand deposits | $40,876 |
| Nontransaction accounts | $869,933 |
| Money market deposit accounts (MMDAs) | $106,598 |
| Other savings deposits (excluding MMDAs) | $570,991 |
| Total time deposits | $192,344 |
| Total time and savings deposits | $933,476 |
| Noninterest-bearing deposits | $219,614 |
| Interest-bearing deposits | $754,738 |
| Retail deposits | $927,136 |
| IRAs and Keogh plan accounts | $17,054 |
| Brokered deposits | $1,000 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,148,987 |
| Cash & Balances due from depository institutions | $77,333 |
| Interest-bearing balances | $56,924 |
| Total securities | $238,925 |
| Federal funds sold & reverse repurchase | $277 |
| Net loans and leases | $776,971 |
| Loan and leases loss allowance | $13,140 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $14,248 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $9,232 |
| All other assets | $32,001 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,148,987 |
| Total Liabilities | $1,034,932 |
| Total deposits | $974,352 |
| Interest-bearing deposits | $754,738 |
| Deposits held in domestic offices | $974,352 |
| % insured (estimated) | $60 |
| Federal funds purchased and repurchase agreements | $20,101 |
| Trading liabilities | $0 |
| Other borrowed funds | $32,728 |
| Subordinated debt | $0 |
| All other liabilities | $7,751 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $776,971 |
| Loan and leases loss allowance | $13,140 |
| Total loans and leases (domestic) | $790,111 |
| All real estate loans | $361,885 |
| Real estate loans in domestic offices | $361,885 |
| Construction and development loans | $47,615 |
| Residential 1-4 family construction | $1,836 |
| Other construction, all land development and other land | $45,779 |
| Loans secured by nonfarm nonresidential properties | $157,642 |
| Nonfarm nonresidential secured by owner-occupied properties | $19,877 |
| Commercial real estate & other non-farm, non-residential | $137,765 |
| Multifamily residential real estate | $29,834 |
| 1-4 family residential loans | $33,848 |
| Farmland loans | $92,946 |
| Loans held in foreign offices | $0 |
| Farm loans | $207,779 |
| Commercial and industrial loans | $177,367 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $13,766 |
| Credit card loans | $386 |
| Related Plans | $176 |
| Consumer Auto Loans | $8,728 |
| Other loans to individuals | $4,476 |
| All other loans & leases | $29,314 |
| 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 $776,971,000 of loans outstanding in 2020. $361,885,000 of loans were in real estate loans. $47,615,000 of loans were in development loans. $29,834,000 of loans were in multifamily mortgage loans. $33,848,000 of loans were in 1-4 family mortgage loans. $207,779,000 of loans were in farm loans. $386,000 of loans were in credit card loans. $8,728,000 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 | 140 | $27,279 | $194,850 |
| Nonfarm, nonresidential loans - <$100k | 42 | $1,639 | $39,024 |
| Nonfarm, nonresidential loans - $100-250k | 51 | $6,915 | $135,588 |
| Nonfarm, nonresidential loans - $250k-1MM | 47 | $18,725 | $398,404 |
| Commercial & Industrial, US addressed loans - <$1MM | 782 | $55,801 | $71,357 |
| Commercial & Industrial, US addressed loans - <$100k | 548 | $13,168 | $24,029 |
| Commercial & Industrial, US addressed loans - $100-250k | 127 | $13,301 | $104,732 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 107 | $29,332 | $274,131 |
| Farmland loans - <$1MM | 220 | $30,866 | $140,300 |
| Farmland loans - <$100k | 51 | $2,036 | $39,922 |
| Farmland loans - $100-250k | 93 | $10,789 | $116,011 |
| Farmland loans - $250k-1MM | 76 | $18,041 | $237,382 |
| Agriculture operations loans - <$1MM | 645 | $47,673 | $73,912 |
| Agriculture operations loans - <$100k | 353 | $6,603 | $18,705 |
| Agriculture operations loans - $100-250k | 176 | $16,902 | $96,034 |
| Agriculture operations loans - $250k-1MM | 116 | $24,168 | $208,345 |