Northview Bank Mortgage Rates, Fees & Info

Sandstone, MN

LEI: 549300VJ9DGB4OZNPL63

Tax ID: 41-0257370

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Northview Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Northview Bank has a high proportion of conventional loans. Their top markets include Duluth, Minneapolis, Grand Rapids, Brainerd, and Bemidji among others. Northview Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Northview Bank is typically an average fee lendor.


Originations

593

Origination Dollar Volume (All Markets)

$111,385,000

Employee count

114

Awards

Northview Bank 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Northview Bank's average 30 year fixed rate mortgage of loans were 3.06%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.09%.

Relative Fees

Northview Bank's average total fees for a 30 year fixed rate mortgage are $3,826.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 300 $51,460,000 $171,533 $3,639 3.51%
DULUTH, MN-WI (FHA|USDA|VA) 136 $26,890,000 $197,721 $3,387 3.59%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 73 $16,765,000 $229,658 $4,122 3.16%
Grand Rapids, MN (FHA|USDA|VA) 46 $8,640,000 $187,826 $3,282 3.40%
Brainerd, MN (FHA|USDA|VA) 16 $2,290,000 $143,125 $3,481 3.86%
Bemidji, MN (FHA|USDA|VA) 6 $1,140,000 $190,000 $3,933 3.37%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $955,000 $955,000 $0 3.90%
Alexandria, MN (FHA|USDA|VA) 2 $790,000 $395,000 $5,884 3.19%
Marshall, MN (FHA|USDA|VA) 1 $345,000 $345,000 $5,269 2.88%
ST. CLOUD, MN (FHA|USDA|VA) 2 $310,000 $155,000 $3,442 3.06%
Red Wing, MN (FHA|USDA|VA) 1 $255,000 $255,000 $4,099 3.25%
ROCHESTER, MN (FHA|USDA|VA) 2 $250,000 $125,000 $2,874 3.19%
BISMARCK, ND (FHA|USDA|VA) 1 $225,000 $225,000 $4,309 2.50%
Albert Lea, MN (FHA|USDA|VA) 1 $215,000 $215,000 $3,618 2.38%
Fergus Falls, MN (FHA|USDA|VA) 1 $215,000 $215,000 $4,087 3.13%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $185,000 $185,000 $3,031 2.95%
FARGO, ND-MN (FHA|USDA|VA) 1 $175,000 $175,000 $3,569 3.25%
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $145,000 $145,000 $2,870 2.38%
WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $135,000 $135,000 $2,659 3.00%

Northview Bank's top markets include Duluth, Minneapolis, Grand Rapids, Brainerd, and Bemidji among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 593 $111,385,000 $187,833 $3,619 3.47%

For the 2021 period, Northview Bank's most frequently originated loan type of loans were Conventional, with 593 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 273 $55,765,000 $204,267 $3,841 3.98%
Cash Out Refi 183 $33,245,000 $181,667 $3,560 3.13%
Refi 100 $16,560,000 $165,600 $3,205 2.59%
Other 30 $4,960,000 $165,333 $3,388 3.56%
Home Improvement 7 $855,000 $122,143 $3,838 5.04%

For the 2021, Northview Bank's most frequently cited loan purpose of loans were Home Purchase, with 273 originations. The 2nd most popular reason of loans were Cash Out Refi, with 183 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 268 $53,910,000 $201,157 $3,826 3.06%
15 Year 198 $26,040,000 $131,515 $3,024 3.43%
5 Year 42 $8,460,000 $201,429 $3,498 4.50%
30+ year 22 $7,190,000 $326,818 $6,382 5.05%
Other 21 $6,495,000 $309,286 $4,322 4.85%
20 Year 18 $3,460,000 $192,222 $3,482 2.86%
10 Year 18 $3,920,000 $217,778 $2,963 4.55%
1 Year 6 $1,910,000 $318,333 $7,667 3.99%

For the 2021, Northview Bank's most frequently cited loan length of loans were 30 Year, with 268 originations. The 2nd most popular length of loans were 15 Year, with 198 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 317 $45,595,000 $143,833
$2k-3k 127 $31,465,000 $247,756
$<1k 80 $5,690,000 $71,125
$3k-4k 41 $15,605,000 $380,610
$5k+ 4 $1,680,000 $420,000

$3,826 of loans were Northview Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 317 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 161 $40,305,000 $250,342
2.5-3% 149 $28,555,000 $191,644
<2.5% 116 $16,470,000 $141,983
4-5% 101 $16,925,000 $167,574
5-6% 64 $9,080,000 $141,875
6-7% 2 $50,000 $25,000

During 2021, Northview Bank's average interest rate of loans were 3.06%, while their most frequently originated rate bucket of loans were 3-4%, with 161 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 249 $36,755,000 $147,610 $3,268 3.30%
$200k-400k 178 $46,340,000 $260,337 $4,625 3.30%
$100,000 or less 140 $10,040,000 $71,714 $2,481 3.94%
$400k-600k 19 $9,075,000 $477,632 $6,747 3.79%
$1MM+ 4 $6,570,000 $1,642,500 $0 4.13%
$600k-1MM 3 $2,605,000 $868,333 $0 3.82%

2021 saw Northview Bank place emphasis on $100k-200k loans with 249 originations, totaling $36,755,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 139 $21,295,000 $153,201 $3,364 3.26%
$100k-150k 135 $25,495,000 $188,852 $3,642 3.55%
$50k or less 101 $11,645,000 $115,297 $2,920 3.21%
$75k-100k 91 $16,955,000 $186,319 $3,812 3.25%
$150k-250k 90 $19,970,000 $221,889 $4,315 4.07%
$250k+ 21 $6,035,000 $287,381 $4,815 3.68%

Northview Bank lent most frequently to those with incomes in the $50k-75k range, with 139 originations. The second most popular income band? $100k-150k, with 135 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 169 $28,165,000 $166,657 $3,537 3.46%
30-36% 141 $26,135,000 $185,355 $3,732 3.55%
<20% 64 $8,610,000 $134,531 $3,078 3.55%
41% 29 $5,545,000 $191,207 $3,756 3.65%
36% 24 $3,810,000 $158,750 $3,382 3.84%
42% 22 $4,170,000 $189,545 $3,778 3.36%
37% 21 $4,785,000 $227,857 $4,292 3.59%
39% 20 $3,330,000 $166,500 $3,689 3.61%
43% 20 $3,860,000 $193,000 $3,672 3.02%
40% 19 $3,315,000 $174,474 $3,448 2.98%
38% 14 $2,460,000 $175,714 $3,528 2.97%
44% 10 $1,840,000 $184,000 $3,622 3.00%
45% 9 $1,945,000 $216,111 $4,467 3.06%
49% 5 $965,000 $193,000 $3,846 2.80%
47% 4 $770,000 $192,500 $3,461 2.72%
46% 3 $945,000 $315,000 $5,051 2.96%
48% 2 $540,000 $270,000 $4,292 2.94%
50-60% 2 $510,000 $255,000 $7,667 4.85%

Northview Bank lent most frequently to those with DTI ratios of 20-30%, with 169 originations. The next most common DTI ratio? 30-36%, with 141 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 496 $87,590,000 $176,593 $3,611 3.39%
Not provided 79 $13,565,000 $171,709 $3,630 3.83%
Not applicable 13 $9,295,000 $715,000 $0 4.13%
American Indian 4 $890,000 $222,500 $4,622 4.62%
Black 1 $45,000 $45,000 $2,390 5.44%

Approval Rates

Total approvals of all applications
83.90%

Northview Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
63.34%

Northview Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 593 $111,385,000 $187,833

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
593 $111,385,000 $187,833

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 36 $3,610,000 $100,278 $2,847 3.27%
40-60% 112 $19,590,000 $174,911 $3,130 3.07%
60-80% 265 $52,945,000 $199,792 $3,880 3.49%
80-100% 172 $34,670,000 $201,570 $3,749 3.78%
Under 20% 8 $570,000 $71,250 $2,152 3.03%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Northview Bank 3697 Co Rd 140, 3697 County Road 140 Barnum, MN 55707 Full Service B&M $20,059
Northview Bank 130 West 7th Avenue Floodwood, MN 55736 Full Service B&M $20,129
Northview Bank 200 East 1st Street Park Rapids, MN 56470 Full Service B&M $81,656
Northview Bank 203 Old Highway 61 S Hinckley, MN 55037 Full Service B&M $27,590
Northview Bank 2203 Finland Ave Finlayson, MN 55735 Full Service B&M $58,430
Northview Bank 40 4th Street Se Deer River, MN 56636 Full Service B&M $20,601
Northview Bank 411 Pokegma Avenue South Grand Rapids, MN 55744 Full Service B&M $14,331
Northview Bank 510 Main Street Sandstone, MN 55072 Full Service B&M $31,160
Northview Bank 5584 Highway 210, Cardinal Building Cromwell, MN 55726 Full Service B&M $20,639
Northview Bank 6340 Merchant St Askov, MN 55704 Full Service B&M $26,707
Northview Bank 8132 County Highway 61 Willow River, MN 55795 Full Service B&M $32,372
Northview Bank 8382 Main Street Kerrick, MN 55756 Full Service B&M $12,235
Northview Bank Railroad Street Floodwood, MN 55736 Limited, Drive-thru $0

For 2021, Northview Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $16,209
Net interest income $14,885
Total noninterest income $5,006
Gross Fiduciary activities income $0
Service charges on deposit accounts $253
Trading account gains and fees $0
Additional Noninterest Income $4,753
Pre-tax net operating income $6,771
Securities gains (or losses, -) $0
Income before extraordinary items $6,303
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,303
Minority interest net income $0
Net income $6,303
Sale, conversion, retirement of capital stock, net $0
Net operating income $6,303

Northview Bank's gross interest income from loans was $16,209,000.
Northview Bank's net interest income from loans was $14,885,000.
Northview Bank's fee based income from loans was $253,000.
Northview Bank's net income from loans was $6,303,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,324
Provision for credit losses $450
Total noninterest expense $12,670
Salaries and employee benefits $7,570
Premises and equipment expense $1,751
Additional noninterest expense $3,349
Applicable income taxes $468
Net charge-offs $-1
Cash dividends $5,360

Northview Bank's interest expense for loans was $1,324,000.
Northview Bank's payroll and benefits expense were $7,570,000.
Northview Bank's property, plant and equipment expenses $1,751,000.

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 $394,096
Deposits held in domestic offices $394,096
Deposits by Individuals, partnerships, and corporations $371,463
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $22,125
Deposits by Commercial banks and other depository institutions in U.S. $509
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $182,425
Demand deposits $109,867
Nontransaction accounts $211,672
Money market deposit accounts (MMDAs) $55,858
Other savings deposits (excluding MMDAs) $70,783
Total time deposits $85,031
Total time and savings deposits $284,230
Noninterest-bearing deposits $109,867
Interest-bearing deposits $284,229
Retail deposits $381,493
IRAs and Keogh plan accounts $22,647
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $439,943
Cash & Balances due from depository institutions $74,305
Interest-bearing balances $64,340
Total securities $101,644
Federal funds sold & reverse repurchase $0
Net loans and leases $240,680
Loan and leases loss allowance $4,208
Trading account assets $0
Bank premises and fixed assets $9,950
Other real estate owned $149
Goodwill and other intangibles $4,949
All other assets $8,266

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $439,943
Total Liabilities $394,438
Total deposits $394,096
Interest-bearing deposits $284,229
Deposits held in domestic offices $394,096
% insured (estimated) $85
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $342

Issued Loan Types

Type Value (in 000's)
Net loans and leases $240,680
Loan and leases loss allowance $4,208
Total loans and leases (domestic) $244,888
All real estate loans $210,628
Real estate loans in domestic offices $210,628
Construction and development loans $78,742
Residential 1-4 family construction $8,540
Other construction, all land development and other land $70,202
Loans secured by nonfarm nonresidential properties $39,561
Nonfarm nonresidential secured by owner-occupied properties $11,795
Commercial real estate & other non-farm, non-residential $27,766
Multifamily residential real estate $6,717
1-4 family residential loans $80,196
Farmland loans $5,412
Loans held in foreign offices $0
Farm loans $3,000
Commercial and industrial loans $16,478
To non-U.S. addressees $0
Loans to individuals $12,136
Credit card loans $505
Related Plans $75
Consumer Auto Loans $3,266
Other loans to individuals $8,290
All other loans & leases $2,646
Loans to foreign governments and official institutions $0
Other loans $365
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 $310
Non 1-4 family restructured loans & leases $275
Total loans and leases (foreign) $0

Northview Bank had $240,680,000 of loans outstanding in 2021. $210,628,000 of loans were in real estate loans. $78,742,000 of loans were in development loans. $6,717,000 of loans were in multifamily mortgage loans. $80,196,000 of loans were in 1-4 family mortgage loans. $3,000,000 of loans were in farm loans. $505,000 of loans were in credit card loans. $3,266,000 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 141 $30,246 $214,511
Nonfarm, nonresidential loans - <$100k 54 $2,268 $42,000
Nonfarm, nonresidential loans - $100-250k 44 $6,520 $148,182
Nonfarm, nonresidential loans - $250k-1MM 43 $21,458 $499,023
Commercial & Industrial, US addressed loans - <$1MM 226 $13,745 $60,819
Commercial & Industrial, US addressed loans - <$100k 192 $4,863 $25,328
Commercial & Industrial, US addressed loans - $100-250k 22 $3,661 $166,409
Commercial & Industrial, US addressed loans - $250k-1MM 12 $5,221 $435,083
Farmland loans - <$1MM 53 $2,780 $52,453
Farmland loans - <$100k 29 $1,202 $41,448
Farmland loans - $100-250k 22 $1,017 $46,227
Farmland loans - $250k-1MM 2 $561 $280,500
Agriculture operations loans - <$1MM 51 $2,390 $46,863
Agriculture operations loans - <$100k 45 $1,041 $23,133
Agriculture operations loans - $100-250k 4 $615 $153,750
Agriculture operations loans - $250k-1MM 2 $734 $367,000