Roundbank Mortgage Rates, Fees & Info

Waseca, MN

LEI: 549300YCO0GXEXFH4J39

Tax ID: 41-0250072

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Roundbank is a smaller bank specializing in Home Purchase and Refi loans. Roundbank has a high proportion of conventional loans. Their top markets by origination volume include: Minneapolis, Faribault, Mankato, Owatonna, and Duluth among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Roundbank 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. Roundbank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    233

    Origination Dollar Volume (All Markets)

    $46,155,000

    Employee count

    69

    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
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 117 $29,575,000 $252,778 $3,878 4.76%
    Outside of Metro Areas 68 $7,770,000 $114,265 $2,665 4.83%
    Faribault-Northfield, MN (FHA|USDA|VA) 11 $2,195,000 $199,545 $4,099 4.70%
    MANKATO, MN (FHA|USDA|VA) 5 $955,000 $191,000 $3,193 4.48%
    Owatonna, MN (FHA|USDA|VA) 8 $910,000 $113,750 $2,443 4.66%
    DULUTH, MN-WI (FHA|USDA|VA) 4 $750,000 $187,500 $4,815 4.63%
    ROCHESTER, MN (FHA|USDA|VA) 4 $720,000 $180,000 $4,077 4.75%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $675,000 $675,000 $5,240 4.38%
    Brainerd, MN (FHA|USDA|VA) 2 $470,000 $235,000 $2,703 5.08%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $445,000 $445,000 $3,004 4.88%
    Winona, MN (FHA|USDA|VA) 2 $330,000 $165,000 $4,094 5.13%
    ST. GEORGE, UT (FHA|USDA|VA) 1 $315,000 $315,000 $0 5.25%
    ST. CLOUD, MN (FHA|USDA|VA) 1 $265,000 $265,000 $5,927 4.96%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 2 $260,000 $130,000 $1,202 4.25%
    New Ulm, MN (FHA|USDA|VA) 2 $250,000 $125,000 $3,303 4.86%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $195,000 $195,000 $4,433 5.13%
    Albert Lea, MN (FHA|USDA|VA) 2 $40,000 $20,000 $0 5.50%
    Alexandria, MN (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.38%
    Roundbank's top markets include Minneapolis, Faribault, Mankato, Owatonna, and Duluth among others.

    Their top states include:
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Utah (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Roundbank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Cornerstone State Bank
    Similarity Rank: 408
    MEMBERS COOPERATIVE
    Similarity Rank: 630
    WESTconsin Credit Union
    Similarity Rank: 795
    SHAREPOINT CREDIT UNION
    Similarity Rank: 816
    South Metro Federal Credit Union
    Similarity Rank: 882
    First National Bank of Elk River
    Similarity Rank: 984
    Liberty Bank Minnesota
    Similarity Rank: 1080
    ST. CLOUD FINANCIAL
    Similarity Rank: 1150
    First State Bank and Trust
    Similarity Rank: 1162
    St. Paul Federal Credit Union
    Similarity Rank: 1197

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 233 $46,155,000 $198,090 $3,450 4.79%

    For 2018, Roundbank's most frequently originated type of loan was Conventional, with 233 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 133 $28,275,000 $212,594 $3,912 4.74%
    Refi 58 $13,330,000 $229,828 $3,378 4.78%
    Cash Out Refi 19 $3,055,000 $160,789 $3,790 4.85%
    Home Improvement 15 $735,000 $49,000 $810 5.17%
    Other 8 $760,000 $95,000 $984 4.78%

    For 2018, Roundbank's most frequently cited loan purpose was Home Purchase, with 133 originations. The 2nd most popular reason was Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 137 $35,075,000 $256,022 $4,327 4.80%
    15 Year 43 $4,685,000 $108,953 $2,008 4.10%
    5 Year 19 $2,115,000 $111,316 $481 5.04%
    20 Year 14 $1,670,000 $119,286 $1,900 5.35%
    Other 13 $2,195,000 $168,846 $1,992 5.22%
    10 Year 6 $380,000 $63,333 $798 6.13%
    3 Year 1 $35,000 $35,000 $0 6.38%

    For 2018, Roundbank's most frequently cited loan duration was 30 Year, with 137 originations. The 2nd most popular length was 15 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 65 $10,375,000 $159,615
    $<1k 56 $4,260,000 $76,071
    $2k-3k 51 $10,645,000 $208,725
    $3k-4k 23 $7,275,000 $316,304
    $4k-5k 8 $3,290,000 $411,250
    $5k+ 7 $6,885,000 $983,571

    Roundbank's average total fees were $4,327, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 65 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 136 $32,580,000 $239,559
    3-4% 43 $6,115,000 $142,209
    5-6% 35 $6,075,000 $173,571
    6-7% 13 $1,105,000 $85,000
    7-8% 4 $150,000 $37,500
    2.5-3% 1 $15,000 $15,000

    During 2018, Roundbank's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 136 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 75 $11,015,000 $146,867 $3,406 4.73%
    $100,000 or less 74 $4,020,000 $54,324 $1,392 4.98%
    $200k-400k 67 $19,205,000 $286,642 $4,504 4.68%
    $400k-600k 11 $4,885,000 $444,091 $5,882 4.61%
    $600k-1MM 5 $3,525,000 $705,000 $8,561 4.63%
    $1MM+ 1 $3,505,000 $3,505,000 $24,418 4.63%

    2018 saw Roundbank place emphasis on $100k-200k loans with 75 originations, totaling $11,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 60 $11,670,000 $194,500 $3,176 4.75%
    $50k-75k 37 $5,355,000 $144,730 $3,159 4.67%
    $50k or less 37 $3,865,000 $104,459 $2,787 4.71%
    $75k-100k 33 $5,745,000 $174,091 $3,471 4.91%
    $150k-250k 31 $8,035,000 $259,194 $4,330 4.75%
    $250k+ 15 $8,215,000 $547,667 $5,579 4.94%

    Roundbank lent most frequently to those with incomes in the $100k-150k range, with 60 originations. The second most popular income band? $50k-75k, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 53 $8,295,000 $156,509 $2,915 4.62%
    30-36% 35 $7,595,000 $217,000 $3,745 4.63%
    <20% 22 $7,620,000 $346,364 $4,655 4.45%
    43% 13 $1,865,000 $143,462 $2,647 5.05%
    37% 10 $1,450,000 $145,000 $2,465 4.82%
    49% 9 $2,275,000 $252,778 $4,548 5.00%
    36% 8 $1,780,000 $222,500 $3,097 4.40%
    38% 8 $1,820,000 $227,500 $3,629 4.62%
    40% 8 $1,440,000 $180,000 $3,565 4.83%
    >60% 6 $1,000,000 $166,667 $1,856 5.27%
    39% 6 $1,220,000 $203,333 $3,909 4.78%
    42% 6 $880,000 $146,667 $3,205 5.05%
    45% 6 $1,210,000 $201,667 $4,290 5.10%
    46% 6 $1,080,000 $180,000 $3,628 4.61%
    47% 4 $960,000 $240,000 $4,295 4.84%
    48% 3 $655,000 $218,333 $4,044 5.11%
    50-60% 3 $605,000 $201,667 $3,709 4.86%
    44% 2 $320,000 $160,000 $3,059 6.42%
    41% 2 $660,000 $330,000 $3,117 4.94%

    Roundbank lent most frequently to those with DTI ratios of 20-30%, with 53 originations. The next most common DTI ratio? 30-36%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 215 $43,025,000 $200,116 $3,428 4.76%
    Not applicable 12 $1,940,000 $161,667 $0 5.25%
    Not provided 2 $400,000 $200,000 $4,722 4.19%
    Black 1 $375,000 $375,000 $4,181 4.75%
    Asian Indian 2 $350,000 $175,000 $4,006 4.88%
    Asian 1 $65,000 $65,000 $0 5.57%

    Approval Rates

    Total approvals of all applications
    93.62%

    Roundbank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.70%

    Roundbank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 233 $46,155,000 $198,090

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $675,000 $675,000
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 231 $45,445,000 $196,732

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $5,625,000 $244,565 $2,931 4.90%
    40-60% 32 $6,140,000 $191,875 $3,345 4.38%
    60-80% 81 $18,225,000 $225,000 $3,896 4.79%
    80-100% 64 $14,170,000 $221,406 $4,433 4.75%
    Over 100% 2 $200,000 $100,000 $0 4.88%
    Under 20% 28 $1,300,000 $46,429 $605 5.16%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    RoundPoint Mortgage Servicing Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 1.8%
    RoundPoint Mortgage Servicing Corporation Conventional home mortgage Closing on a mortgage 1 0.5%
    RoundPoint Mortgage Servicing Corporation Conventional home mortgage Incorrect information on your report 2 0.9%
    RoundPoint Mortgage Servicing Corporation Conventional home mortgage Struggling to pay mortgage 16 7.3%
    RoundPoint Mortgage Servicing Corporation Conventional home mortgage Trouble during payment process 122 55.7%
    RoundPoint Mortgage Servicing Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.5%
    RoundPoint Mortgage Servicing Corporation FHA mortgage Closing on a mortgage 1 0.5%
    RoundPoint Mortgage Servicing Corporation FHA mortgage Credit monitoring or identity theft protection services 1 0.5%
    RoundPoint Mortgage Servicing Corporation FHA mortgage Struggling to pay mortgage 10 4.6%
    RoundPoint Mortgage Servicing Corporation FHA mortgage Trouble during payment process 22 10.0%
    RoundPoint Mortgage Servicing Corporation Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 0.5%
    RoundPoint Mortgage Servicing Corporation Home equity loan or line of credit (HELOC) Struggling to pay mortgage 3 1.4%
    RoundPoint Mortgage Servicing Corporation Home equity loan or line of credit (HELOC) Trouble during payment process 2 0.9%
    RoundPoint Mortgage Servicing Corporation Other type of mortgage Incorrect information on your report 1 0.5%
    RoundPoint Mortgage Servicing Corporation Other type of mortgage Struggling to pay mortgage 4 1.8%
    RoundPoint Mortgage Servicing Corporation Other type of mortgage Trouble during payment process 5 2.3%
    RoundPoint Mortgage Servicing Corporation VA mortgage Incorrect information on your report 1 0.5%
    RoundPoint Mortgage Servicing Corporation VA mortgage Struggling to pay mortgage 10 4.6%
    RoundPoint Mortgage Servicing Corporation VA mortgage Trouble during payment process 12 5.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Roundbank 102 Main Street Waldorf, MN 56091 Full Service B&M $21,138
    Roundbank 1100 1st Street, N.E. New Prague, MN 56071 Full Service B&M $67,177
    Roundbank 200 Northeast 2nd Street Waseca, MN 56093 Full Service B&M $131,145
    Roundbank 3380 Vermillion River Trail Farmington, MN 55024 Full Service B&M $29,268

    For 2018, Roundbank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,720
    Net interest income $11,734
    Total noninterest income $3,217
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $620
    Trading account gains and fees $0
    Additional Noninterest Income $2,597
    Pre-tax net operating income $4,923
    Securities gains (or losses, -) $-110
    Income before extraordinary items $4,808
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,808
    Minority interest net income $0
    Net income $4,808
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,918

    Roundbank's gross interest income from loans was $13,720,000.
    Roundbank's net interest income from loans was $11,734,000.
    Roundbank's fee based income from loans was $620,000.
    Roundbank's net income from loans was $4,808,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,986
    Provision for credit losses $60
    Total noninterest expense $9,968
    Salaries and employee benefits $5,548
    Premises and equipment expense $797
    Additional noninterest expense $3,623
    Applicable income taxes $5
    Net charge-offs $-146
    Cash dividends $2,696

    Roundbank's interest expense for loans was $1,986,000.
    Roundbank's payroll and benefits expense were $5,548,000.
    Roundbank's property, plant and equipment expenses $797,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    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 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $250,108
    Deposits held in domestic offices $250,108
    Deposits by Individuals, partnerships, and corporations $235,631
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $14,478
    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 $28,423
    Demand deposits $12,654
    Nontransaction accounts $221,686
    Money market deposit accounts (MMDAs) $51,551
    Other savings deposits (excluding MMDAs) $98,544
    Total time deposits $71,591
    Total time and savings deposits $237,455
    Noninterest-bearing deposits $12,654
    Interest-bearing deposits $237,454
    Retail deposits $233,559
    IRAs and Keogh plan accounts $6,001
    Brokered deposits $8,500
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $308,104
    Cash & Balances due from depository institutions $9,428
    Interest-bearing balances $8,795
    Total securities $59,002
    Federal funds sold & reverse repurchase $0
    Net loans and leases $222,508
    Loan and leases loss allowance $3,059
    Trading account assets $0
    Bank premises and fixed assets $3,790
    Other real estate owned $1,182
    Goodwill and other intangibles $1,584
    All other assets $10,610

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $308,105
    Total Liabilities $274,490
    Total deposits $250,108
    Interest-bearing deposits $237,454
    Deposits held in domestic offices $250,108
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $4,533
    Trading liabilities $0
    Other borrowed funds $16,479
    Subordinated debt $0
    All other liabilities $3,370

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $222,508
    Loan and leases loss allowance $3,059
    Total loans and leases (domestic) $225,567
    All real estate loans $164,645
    Real estate loans in domestic offices $164,645
    Construction and development loans $13,429
    Residential 1-4 family construction $6,674
    Other construction, all land development and other land $6,755
    Loans secured by nonfarm nonresidential properties $34,643
    Nonfarm nonresidential secured by owner-occupied properties $23,911
    Commercial real estate & other non-farm, non-residential $10,732
    Multifamily residential real estate $8,087
    1-4 family residential loans $77,615
    Farmland loans $30,871
    Loans held in foreign offices $0
    Farm loans $30,619
    Commercial and industrial loans $26,660
    To non-U.S. addressees $0
    Loans to individuals $3,414
    Credit card loans $398
    Related Plans $596
    Consumer Auto Loans $2,420
    Other loans to individuals $0
    All other loans & leases $230
    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 $5,655
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,072
    Non 1-4 family restructured loans & leases $2,620
    Total loans and leases (foreign) $0

    Roundbank had $222,508,000 of loans outstanding in 2018. $164,645,000 of loans were in real estate loans. $13,429,000 of loans were in development loans. $8,087,000 of loans were in multifamily mortgage loans. $77,615,000 of loans were in 1-4 family mortgage loans. $30,619,000 of loans were in farm loans. $398,000 of loans were in credit card loans. $2,420,000 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 116 $20,824 $179,517
    Nonfarm, nonresidential loans - <$100k 30 $1,027 $34,233
    Nonfarm, nonresidential loans - $100-250k 45 $5,813 $129,178
    Nonfarm, nonresidential loans - $250k-1MM 41 $13,984 $341,073
    Commercial & Industrial, US addressed loans - <$1MM 314 $18,397 $58,589
    Commercial & Industrial, US addressed loans - <$100k 230 $5,257 $22,857
    Commercial & Industrial, US addressed loans - $100-250k 48 $3,561 $74,188
    Commercial & Industrial, US addressed loans - $250k-1MM 36 $9,579 $266,083
    Farmland loans - <$1MM 178 $27,618 $155,157
    Farmland loans - <$100k 50 $2,102 $42,040
    Farmland loans - $100-250k 77 $10,045 $130,455
    Farmland loans - $250k-1MM 51 $15,471 $303,353
    Agriculture operations loans - <$1MM 336 $30,619 $91,128
    Agriculture operations loans - <$100k 230 $8,168 $35,513
    Agriculture operations loans - $100-250k 74 $11,414 $154,243
    Agriculture operations loans - $250k-1MM 32 $11,037 $344,906