Northview Bank Mortgage Rates, Fees & Info
Sandstone, MNLEI: 549300VJ9DGB4OZNPL63
Tax ID: 41-0257370
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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
593Origination Dollar Volume (All Markets)
$111,385,000Employee count
114Awards
Northview Bank - 2021
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For 2021, less than of lenders were eligible for this award.
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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 applications83.90%
Northview Bank has a below average approval rate.
Pick Rate
Approvals leading to origination63.34%
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 |
