Roundbank Mortgage Rates, Fees & Info
Waseca, MNLEI: 549300YCO0GXEXFH4J39
Tax ID: 41-0250072
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & Overview
Roundbank is a smaller bank specializing in Refi and Cash Out 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, Owatonna, Mankato, and Brainerd among others. We have data for 33 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 an above 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.
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
1,105Origination Dollar Volume (All Markets)
$272,025,000Employee count
70Top 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) | 760 | $207,830,000 | $273,461 | $0 | 0.00% |
| Outside of Metro Areas | 172 | $27,200,000 | $158,140 | $0 | 0.00% |
| Faribault-Northfield, MN (FHA|USDA|VA) | 27 | $7,255,000 | $268,704 | $0 | 0.00% |
| Owatonna, MN (FHA|USDA|VA) | 42 | $7,210,000 | $171,667 | $0 | 0.00% |
| MANKATO, MN (FHA|USDA|VA) | 21 | $4,195,000 | $199,762 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 18 | $3,700,000 | $205,556 | $0 | 0.00% |
| ROCHESTER, MN (FHA|USDA|VA) | 10 | $2,230,000 | $223,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $0 | 0.00% |
| Albert Lea, MN (FHA|USDA|VA) | 8 | $1,130,000 | $141,250 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 5 | $965,000 | $193,000 | $0 | 0.00% |
| EAU CLAIRE, WI (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $0 | 0.00% |
| ST. CLOUD, MN (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $0 | 0.00% |
| Winona, MN (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $0 | 0.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 0.00% |
| Fergus Falls, MN (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| Austin, MN (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 0.00% |
| Worthington, MN (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| New Ulm, MN (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 0.00% |
| Willmar, MN (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| GREEN BAY, WI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| TOLEDO, OH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| SIOUX FALLS, SD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Red Wing, MN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Alexandria, MN (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Marshall, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Fairmont, MN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $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.
Similarity Rank: 608
Similarity Rank: 882
Similarity Rank: 1517
Similarity Rank: 1564
Similarity Rank: 1876
Similarity Rank: 1946
Similarity Rank: 1976
Similarity Rank: 2175
Similarity Rank: 2244
Similarity Rank: 2312
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,100 | $271,270,000 | $246,609 | $0 | 0.00% |
| USDA | 5 | $755,000 | $151,000 | $0 | 0.00% |
For 2020, Roundbank's most frequently originated type of loan was Conventional, with 1,100 originations. Their 2nd most popular type was USDA, with 5 originations.
Loan Reason
For 2020, Roundbank's most frequently cited loan purpose was Refi, with 595 originations. The 2nd most popular reason was Cash Out Refi, with 276 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 1,105 | $272,025,000 | $246,176 | $0 | 0.00% |
For 2020, Roundbank's most frequently cited loan duration was Other, with 1,105 originations.
Loan Sizing
2020 saw Roundbank place emphasis on $200k-400k loans with 517 originations, totaling $145,495,000 in origination value.
Applicant Income
Roundbank lent most frequently to those with incomes in the $100k-150k range, with 294 originations. The second most popular income band? $150k-250k, with 233 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 1,105 | $272,025,000 | $246,176 | $0 | 0.00% |
Roundbank lent most frequently to those with DTI ratios of Exempt%, with 1,105 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.50%
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 origination92.67%
Roundbank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 1,105 | $272,025,000 | $246,176 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 7 | 4.6% |
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Closing on a mortgage | 11 | 7.2% |
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 3 | 2.0% |
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Struggling to pay mortgage | 13 | 8.5% |
| RoundPoint Mortgage Servicing Corporation | Conventional home mortgage | Trouble during payment process | 61 | 39.9% |
| 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 | 2 | 1.3% |
| RoundPoint Mortgage Servicing Corporation | FHA mortgage | Incorrect information on your report | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | FHA mortgage | Struggling to pay mortgage | 17 | 11.1% |
| RoundPoint Mortgage Servicing Corporation | FHA mortgage | Trouble during payment process | 10 | 6.5% |
| RoundPoint Mortgage Servicing Corporation | Other type of mortgage | Closing on a mortgage | 9 | 5.9% |
| RoundPoint Mortgage Servicing Corporation | Other type of mortgage | Struggling to pay mortgage | 2 | 1.3% |
| RoundPoint Mortgage Servicing Corporation | Other type of mortgage | Trouble during payment process | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | Reverse mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 3 | 2.0% |
| RoundPoint Mortgage Servicing Corporation | VA mortgage | Closing on a mortgage | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | VA mortgage | Struggling to pay mortgage | 1 | 0.7% |
| RoundPoint Mortgage Servicing Corporation | VA mortgage | Trouble during payment process | 6 | 3.9% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Roundbank | 102 Main Street Waldorf, MN 56091 | Full Service B&M | $20,637 |
| Roundbank | 1100 1st Street, N.E. New Prague, MN 56071 | Full Service B&M | $82,935 |
| Roundbank | 200 Northeast 2nd Street Waseca, MN 56093 | Full Service B&M | $148,043 |
| Roundbank | 3380 Vermillion River Trail Farmington, MN 55024 | Full Service B&M | $35,521 |
For 2020, Roundbank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $15,472 |
| Net interest income | $13,348 |
| Total noninterest income | $9,794 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $435 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,359 |
| Pre-tax net operating income | $8,096 |
| Securities gains (or losses, -) | $457 |
| Income before extraordinary items | $8,548 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,548 |
| Minority interest net income | $0 |
| Net income | $8,548 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,091 |
Roundbank's gross interest income from loans was $15,472,000.
Roundbank's net interest income from loans was $13,348,000.
Roundbank's fee based income from loans was $435,000.
Roundbank's net income from loans was $8,548,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,124 |
| Provision for credit losses | $1,293 |
| Total noninterest expense | $13,753 |
| Salaries and employee benefits | $8,367 |
| Premises and equipment expense | $861 |
| Additional noninterest expense | $4,525 |
| Applicable income taxes | $5 |
| Net charge-offs | $136 |
| Cash dividends | $5,836 |
Roundbank's interest expense for loans was $2,124,000.
Roundbank's payroll and benefits expense were $8,367,000.
Roundbank's property, plant and equipment expenses $861,000.
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 | 1.0% |
| 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 | $303,126 |
| Deposits held in domestic offices | $303,126 |
| Deposits by Individuals, partnerships, and corporations | $291,487 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $11,638 |
| 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 | $39,252 |
| Demand deposits | $16,924 |
| Nontransaction accounts | $263,873 |
| Money market deposit accounts (MMDAs) | $61,869 |
| Other savings deposits (excluding MMDAs) | $139,131 |
| Total time deposits | $62,874 |
| Total time and savings deposits | $286,201 |
| Noninterest-bearing deposits | $67,882 |
| Interest-bearing deposits | $235,244 |
| Retail deposits | $287,824 |
| IRAs and Keogh plan accounts | $5,329 |
| Brokered deposits | $10,297 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $385,394 |
| Cash & Balances due from depository institutions | $6,484 |
| Interest-bearing balances | $5,312 |
| Total securities | $89,239 |
| Federal funds sold & reverse repurchase | $17,123 |
| Net loans and leases | $255,040 |
| Loan and leases loss allowance | $3,542 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,089 |
| Other real estate owned | $115 |
| Goodwill and other intangibles | $2,162 |
| All other assets | $11,142 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $385,394 |
| Total Liabilities | $340,533 |
| Total deposits | $303,126 |
| Interest-bearing deposits | $235,244 |
| Deposits held in domestic offices | $303,126 |
| % insured (estimated) | $83 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $33,309 |
| Subordinated debt | $0 |
| All other liabilities | $4,098 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $255,040 |
| Loan and leases loss allowance | $3,542 |
| Total loans and leases (domestic) | $258,582 |
| All real estate loans | $185,658 |
| Real estate loans in domestic offices | $185,658 |
| Construction and development loans | $16,364 |
| Residential 1-4 family construction | $9,118 |
| Other construction, all land development and other land | $7,246 |
| Loans secured by nonfarm nonresidential properties | $42,271 |
| Nonfarm nonresidential secured by owner-occupied properties | $26,658 |
| Commercial real estate & other non-farm, non-residential | $15,613 |
| Multifamily residential real estate | $12,773 |
| 1-4 family residential loans | $78,359 |
| Farmland loans | $35,891 |
| Loans held in foreign offices | $0 |
| Farm loans | $23,530 |
| Commercial and industrial loans | $45,235 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,973 |
| Credit card loans | $337 |
| Related Plans | $399 |
| Consumer Auto Loans | $3,237 |
| Other loans to individuals | $0 |
| All other loans & leases | $186 |
| 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 | $4,598 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,581 |
| Non 1-4 family restructured loans & leases | $940 |
| Total loans and leases (foreign) | $0 |
Roundbank had $255,040,000 of loans outstanding in 2020. $185,658,000 of loans were in real estate loans. $16,364,000 of loans were in development loans. $12,773,000 of loans were in multifamily mortgage loans. $78,359,000 of loans were in 1-4 family mortgage loans. $23,530,000 of loans were in farm loans. $337,000 of loans were in credit card loans. $3,237,000 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 | 117 | $26,160 | $223,590 |
| Nonfarm, nonresidential loans - <$100k | 25 | $919 | $36,760 |
| Nonfarm, nonresidential loans - $100-250k | 39 | $4,640 | $118,974 |
| Nonfarm, nonresidential loans - $250k-1MM | 53 | $20,601 | $388,698 |
| Commercial & Industrial, US addressed loans - <$1MM | 613 | $39,557 | $64,530 |
| Commercial & Industrial, US addressed loans - <$100k | 471 | $11,657 | $24,749 |
| Commercial & Industrial, US addressed loans - $100-250k | 79 | $8,659 | $109,608 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 63 | $19,241 | $305,413 |
| Farmland loans - <$1MM | 161 | $26,731 | $166,031 |
| Farmland loans - <$100k | 46 | $2,142 | $46,565 |
| Farmland loans - $100-250k | 65 | $7,814 | $120,215 |
| Farmland loans - $250k-1MM | 50 | $16,775 | $335,500 |
| Agriculture operations loans - <$1MM | 275 | $23,030 | $83,745 |
| Agriculture operations loans - <$100k | 186 | $6,557 | $35,253 |
| Agriculture operations loans - $100-250k | 61 | $9,552 | $156,590 |
| Agriculture operations loans - $250k-1MM | 28 | $6,921 | $247,179 |