Roundbank Mortgage Rates, Fees & Info
Waseca, MNLEI: 549300YCO0GXEXFH4J39
Tax ID: 41-0250072
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Bank Data
Review & Overview
Roundbank is a smaller bank specializing in Home Purchase and Refi loans. Roundbank has a high proportion of conventional loans. They have a low ratio of USDA 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.
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Originations
297Origination Dollar Volume (All Markets)
$61,455,000Employee count
68Top 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) | 169 | $41,655,000 | $246,479 | $0 | 0.00% |
| Outside of Metro Areas | 76 | $10,250,000 | $134,868 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 11 | $2,265,000 | $205,909 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 6 | $1,490,000 | $248,333 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 11 | $1,305,000 | $118,636 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 5 | $1,255,000 | $251,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $0 | 0.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 3 | $325,000 | $108,333 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 3 | $275,000 | $91,667 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Austin, MN (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
| Fairmont, MN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 294 | $60,980,000 | $207,415 | $0 | 0.00% |
| USDA | 3 | $475,000 | $158,333 | $0 | 0.00% |
For 2019, Roundbank's most frequently originated type of loan was Conventional, with 294 originations. Their 2nd most popular type was USDA, with 3 originations.
Loan Reason
For 2019, Roundbank's most frequently cited loan purpose was Home Purchase, with 138 originations. The 2nd most popular reason was Refi, with 100 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 297 | $61,455,000 | $206,919 | $0 | 0.00% |
For 2019, Roundbank's most frequently cited loan duration was Other, with 297 originations.
Loan Sizing
2019 saw Roundbank place emphasis on $200k-400k loans with 103 originations, totaling $28,915,000 in origination value.
Applicant Income
Roundbank lent most frequently to those with incomes in the $100k-150k range, with 60 originations. The second most popular income band? $75k-100k, with 49 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 297 | $61,455,000 | $206,919 | $0 | 0.00% |
Roundbank lent most frequently to those with DTI ratios of Exempt%, with 297 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.18%
Roundbank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination89.90%
Roundbank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 297 | $61,455,000 | $206,919 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 6 | 4.0% |
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Closing on a mortgage | 3 | 2.0% |
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Incorrect information on your report | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Struggling to pay mortgage | 19 | 12.7% |
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Trouble during payment process | 69 | 46.0% |
| RoundPoint Mortgage Servicing Corporation | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 2.0% |
| RoundPoint Mortgage Servicing Corporation | FHA mortgage | Closing on a mortgage | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | FHA mortgage | Struggling to pay mortgage | 10 | 6.7% |
| RoundPoint Mortgage Servicing Corporation | FHA mortgage | Trouble during payment process | 16 | 10.7% |
| RoundPoint Mortgage Servicing Corporation | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | Other type of mortgage | Closing on a mortgage | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | Other type of mortgage | Struggling to pay mortgage | 4 | 2.7% |
| RoundPoint Mortgage Servicing Corporation | Other type of mortgage | Trouble during payment process | 5 | 3.3% |
| RoundPoint Mortgage Servicing Corporation | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | VA mortgage | Struggling to pay mortgage | 4 | 2.7% |
| RoundPoint Mortgage Servicing Corporation | VA mortgage | Trouble during payment process | 6 | 4.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Roundbank | 102 Main Street Waldorf, MN 56091 | Full Service B&M | $19,526 |
| Roundbank | 1100 1st Street, N.E. New Prague, MN 56071 | Full Service B&M | $69,494 |
| Roundbank | 200 Northeast 2nd Street Waseca, MN 56093 | Full Service B&M | $132,263 |
| Roundbank | 3380 Vermillion River Trail Farmington, MN 55024 | Full Service B&M | $25,605 |
For 2019, Roundbank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $14,393 |
| Net interest income | $11,744 |
| Total noninterest income | $3,263 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $576 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,687 |
| Pre-tax net operating income | $5,529 |
| Securities gains (or losses, -) | $23 |
| Income before extraordinary items | $5,547 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,547 |
| Minority interest net income | $0 |
| Net income | $5,547 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,524 |
Roundbank's gross interest income from loans was $14,393,000.
Roundbank's net interest income from loans was $11,744,000.
Roundbank's fee based income from loans was $576,000.
Roundbank's net income from loans was $5,547,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,649 |
| Provision for credit losses | $-1,080 |
| Total noninterest expense | $10,558 |
| Salaries and employee benefits | $6,239 |
| Premises and equipment expense | $865 |
| Additional noninterest expense | $3,454 |
| Applicable income taxes | $5 |
| Net charge-offs | $-406 |
| Cash dividends | $3,531 |
Roundbank's interest expense for loans was $2,649,000.
Roundbank's payroll and benefits expense were $6,239,000.
Roundbank's property, plant and equipment expenses $865,000.
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 | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $255,266 |
| Deposits held in domestic offices | $255,266 |
| Deposits by Individuals, partnerships, and corporations | $241,479 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $13,787 |
| 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 | $26,998 |
| Demand deposits | $11,726 |
| Nontransaction accounts | $228,268 |
| Money market deposit accounts (MMDAs) | $50,720 |
| Other savings deposits (excluding MMDAs) | $101,236 |
| Total time deposits | $76,311 |
| Total time and savings deposits | $243,540 |
| Noninterest-bearing deposits | $11,726 |
| Interest-bearing deposits | $243,540 |
| Retail deposits | $235,640 |
| IRAs and Keogh plan accounts | $5,871 |
| Brokered deposits | $12,221 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $325,074 |
| Cash & Balances due from depository institutions | $7,812 |
| Interest-bearing balances | $6,603 |
| Total securities | $68,442 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $230,830 |
| Loan and leases loss allowance | $2,385 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,930 |
| Other real estate owned | $1,286 |
| Goodwill and other intangibles | $1,508 |
| All other assets | $11,266 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $325,074 |
| Total Liabilities | $286,213 |
| Total deposits | $255,266 |
| Interest-bearing deposits | $243,540 |
| Deposits held in domestic offices | $255,266 |
| % insured (estimated) | $87 |
| Federal funds purchased and repurchase agreements | $12,887 |
| Trading liabilities | $0 |
| Other borrowed funds | $14,105 |
| Subordinated debt | $0 |
| All other liabilities | $3,955 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $230,830 |
| Loan and leases loss allowance | $2,385 |
| Total loans and leases (domestic) | $233,215 |
| All real estate loans | $171,905 |
| Real estate loans in domestic offices | $171,905 |
| Construction and development loans | $11,654 |
| Residential 1-4 family construction | $5,929 |
| Other construction, all land development and other land | $5,725 |
| Loans secured by nonfarm nonresidential properties | $36,015 |
| Nonfarm nonresidential secured by owner-occupied properties | $22,863 |
| Commercial real estate & other non-farm, non-residential | $13,152 |
| Multifamily residential real estate | $8,161 |
| 1-4 family residential loans | $81,680 |
| Farmland loans | $34,395 |
| Loans held in foreign offices | $0 |
| Farm loans | $27,249 |
| Commercial and industrial loans | $30,029 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,824 |
| Credit card loans | $372 |
| Related Plans | $552 |
| Consumer Auto Loans | $2,900 |
| Other loans to individuals | $0 |
| All other loans & leases | $208 |
| 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 | $5,181 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,844 |
| Non 1-4 family restructured loans & leases | $1,184 |
| Total loans and leases (foreign) | $0 |
Roundbank had $230,830,000 of loans outstanding in 2019. $171,905,000 of loans were in real estate loans. $11,654,000 of loans were in development loans. $8,161,000 of loans were in multifamily mortgage loans. $81,680,000 of loans were in 1-4 family mortgage loans. $27,249,000 of loans were in farm loans. $372,000 of loans were in credit card loans. $2,900,000 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 | 118 | $22,317 | $189,127 |
| Nonfarm, nonresidential loans - <$100k | 30 | $1,101 | $36,700 |
| Nonfarm, nonresidential loans - $100-250k | 44 | $5,800 | $131,818 |
| Nonfarm, nonresidential loans - $250k-1MM | 44 | $15,416 | $350,364 |
| Commercial & Industrial, US addressed loans - <$1MM | 338 | $24,687 | $73,038 |
| Commercial & Industrial, US addressed loans - <$100k | 228 | $5,752 | $25,228 |
| Commercial & Industrial, US addressed loans - $100-250k | 60 | $5,711 | $95,183 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 50 | $13,224 | $264,480 |
| Farmland loans - <$1MM | 173 | $29,937 | $173,046 |
| Farmland loans - <$100k | 48 | $2,192 | $45,667 |
| Farmland loans - $100-250k | 71 | $9,306 | $131,070 |
| Farmland loans - $250k-1MM | 54 | $18,439 | $341,463 |
| Agriculture operations loans - <$1MM | 317 | $27,248 | $85,956 |
| Agriculture operations loans - <$100k | 215 | $7,577 | $35,242 |
| Agriculture operations loans - $100-250k | 71 | $10,938 | $154,056 |
| Agriculture operations loans - $250k-1MM | 31 | $8,733 | $281,710 |