National Bank Of Commerce Mortgage Rates, Fees & Info

Superior, WI

LEI: 549300YSSK1TDPTWQ036

Tax ID: 39-0669230

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

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


Originations

836

Origination Dollar Volume (All Markets)

$209,370,000

Employee count

175

Relative Rate

National Bank Of Commerce's average 30 year fixed rate mortgage of loans were 3.08%.

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

This yields a difference of -0.07%.

Relative Fees

National Bank Of Commerce's average total fees for a 30 year fixed rate mortgage are $4,191.

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
DULUTH, MN-WI (FHA|USDA|VA) 765 $181,935,000 $237,824 $4,120 3.17%
Outside of Metro Areas 27 $9,275,000 $343,519 $5,447 3.18%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 22 $5,570,000 $253,182 $4,805 3.03%
Bemidji, MN (FHA|USDA|VA) 4 $2,760,000 $690,000 $2,994 3.74%
Brainerd, MN (FHA|USDA|VA) 1 $2,215,000 $2,215,000 $4,042 3.00%
Edwards, CO (FHA|USDA|VA) 1 $1,285,000 $1,285,000 $15,817 3.50%
Grand Rapids, MN (FHA|USDA|VA) 4 $1,230,000 $307,500 $2,045 4.55%
CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $870,000 $435,000 $0 4.13%
ST. CLOUD, MN (FHA|USDA|VA) 1 $855,000 $855,000 $0 3.99%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $685,000 $685,000 $0 3.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $620,000 $310,000 $5,679 2.88%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $605,000 $605,000 $8,581 3.75%
Danville, KY (FHA|USDA|VA) 1 $345,000 $345,000 $5,570 2.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $335,000 $335,000 $3,750 3.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $4,577 4.79%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $285,000 $285,000 $5,595 2.88%
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.00%

National Bank Of Commerce's top markets include Duluth, Minneapolis, Bemidji, Brainerd, and Edwards among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 836 $209,370,000 $250,443 $4,213 3.18%

For the 2021 period, National Bank Of Commerce's most frequently originated loan type of loans were Conventional, with 836 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 353 $83,925,000 $237,748 $3,533 3.15%
Home Purchase 309 $91,085,000 $294,773 $5,224 3.32%
Cash Out Refi 157 $31,145,000 $198,376 $3,859 3.00%
Other 10 $1,330,000 $133,000 $3,180 2.71%
Home Improvement 7 $1,885,000 $269,286 $4,634 2.68%

For the 2021, National Bank Of Commerce's most frequently cited loan purpose of loans were Refi, with 353 originations. The 2nd most popular reason of loans were Home Purchase, with 309 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 400 $90,060,000 $225,150 $4,191 3.08%
15 Year 172 $46,210,000 $268,663 $4,634 2.54%
5 Year 117 $29,355,000 $250,897 $0 4.12%
Other 61 $21,025,000 $344,672 $3,246 4.13%
20 Year 56 $10,730,000 $191,607 $3,837 2.89%
10 Year 27 $4,475,000 $165,741 $3,693 2.84%
1 Year 2 $1,190,000 $595,000 $0 5.13%
3 Year 1 $6,325,000 $6,325,000 $0 3.50%

For the 2021, National Bank Of Commerce's most frequently cited loan length of loans were 30 Year, with 400 originations. The 2nd most popular length of loans were 15 Year, with 172 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$2k-3k 201 $37,675,000 $187,438
$1k-2k 153 $16,365,000 $106,961
$3k-4k 148 $46,740,000 $315,811
$<1k 93 $22,245,000 $239,194
$5k+ 51 $31,545,000 $618,529

$4,191 of loans were National Bank Of Commerce's average total fees, while their most frequently occuring range of origination fees were in the $2k-3k bucket, with 201 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 288 $78,140,000 $271,319
2.5-3% 273 $70,575,000 $258,516
<2.5% 163 $33,345,000 $204,571
4-5% 100 $23,360,000 $233,600
5-6% 9 $3,755,000 $417,222
6-7% 2 $160,000 $80,000
Over 8% 1 $35,000 $35,000

During 2021, National Bank Of Commerce's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 3-4%, with 288 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 318 $46,840,000 $147,296 $3,419 3.09%
$200k-400k 269 $75,265,000 $279,796 $4,666 3.08%
$100,000 or less 136 $9,530,000 $70,074 $2,216 3.49%
$400k-600k 71 $34,275,000 $482,746 $6,328 3.01%
$600k-1MM 31 $23,635,000 $762,419 $9,944 3.65%
$1MM+ 11 $19,825,000 $1,802,273 $12,700 3.87%

2021 saw National Bank Of Commerce place emphasis on $100k-200k loans with 318 originations, totaling $46,840,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 158 $39,790,000 $251,835 $4,474 2.97%
$50k-75k 158 $26,860,000 $170,000 $3,589 2.99%
$75k-100k 104 $18,650,000 $179,327 $3,846 3.01%
$150k-250k 97 $29,305,000 $302,113 $4,992 2.97%
$50k or less 93 $11,755,000 $126,398 $3,202 2.95%
$250k+ 66 $34,610,000 $524,394 $7,193 3.02%

National Bank Of Commerce lent most frequently to those with incomes in the $100k-150k range, with 158 originations. The second most popular income band? $50k-75k, with 158 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 197 $43,675,000 $221,701 $3,977 2.90%
30-36% 152 $36,480,000 $240,000 $4,371 2.93%
<20% 88 $20,580,000 $233,864 $4,202 2.81%
37% 27 $5,645,000 $209,074 $3,916 2.95%
42% 25 $5,915,000 $236,600 $4,323 3.13%
43% 22 $6,620,000 $300,909 $4,862 2.98%
41% 20 $5,200,000 $260,000 $4,855 3.16%
38% 19 $2,755,000 $145,000 $3,252 3.01%
40% 19 $4,765,000 $250,789 $4,066 3.08%
44% 18 $4,300,000 $238,889 $3,948 2.95%
36% 18 $3,300,000 $183,333 $3,602 3.27%
45% 16 $3,850,000 $240,625 $3,971 2.82%
48% 14 $3,980,000 $284,286 $4,358 2.76%
39% 13 $3,105,000 $238,846 $4,950 2.99%
46% 9 $1,455,000 $161,667 $3,362 3.07%
49% 9 $2,645,000 $293,889 $5,603 2.67%
47% 7 $3,195,000 $456,429 $8,174 3.00%
50-60% 5 $1,795,000 $359,000 $5,698 3.08%
>60% 2 $50,000 $25,000 $629 5.22%

National Bank Of Commerce lent most frequently to those with DTI ratios of 20-30%, with 197 originations. The next most common DTI ratio? 30-36%, with 152 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 671 $154,985,000 $230,976 $4,120 2.99%
Not applicable 129 $41,965,000 $325,310 $0 4.18%
Not provided 24 $7,320,000 $305,000 $5,307 2.96%
Asian 6 $2,760,000 $460,000 $9,656 3.00%
Black 3 $1,595,000 $531,667 $10,286 3.84%
American Indian 3 $745,000 $248,333 $3,950 3.46%

Approval Rates

Total approvals of all applications
94.35%

National Bank Of Commerce has an average approval rate.

Pick Rate

Approvals leading to origination
85.95%

National Bank Of Commerce has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 836 $209,370,000 $250,443

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
836 $209,370,000 $250,443

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 54 $8,500,000 $157,407 $2,995 3.14%
40-60% 148 $25,250,000 $170,608 $3,547 3.01%
60-80% 352 $89,950,000 $255,540 $4,212 3.22%
80-100% 261 $83,595,000 $320,287 $4,927 3.13%
Over 100% 1 $185,000 $185,000 $0 4.16%
Under 20% 20 $1,890,000 $94,500 $691 4.32%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
NATIONAL ASSET MORTGAGE, LLC Conventional home mortgage Struggling to pay mortgage 2 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
National Bank of Commerce 1127 Tower Avenue Superior, WI 54880 Full Service B&M $315,491
National Bank of Commerce 1314 East Superior Street Duluth, MN 55805 Full Service B&M $127,804
National Bank of Commerce 1619 Woodland Avenue Duluth, MN 55803 Full Service B&M $18,051
National Bank of Commerce 2521 First Avenue Hibbing, MN 55746 Full Service B&M $19,328
National Bank of Commerce 2822 Tower Avenue Superior, WI 54880 Full Service B&M $54,822
National Bank of Commerce 3 Thomson Road Esko, MN 55733 Full Service B&M $18,676
National Bank of Commerce 306 West Superior Street Duluth, MN 55802 Full Service B&M $223,031
National Bank of Commerce 4105 Richard Avenue Hermantown, MN 55811 Full Service B&M $78,319
National Bank of Commerce 4994 S Memorial Dr, P.O. Box 15 Poplar, WI 54864 Full Service B&M $41,290
National Bank of Commerce 9245 E Main St, P.O. Box 279 Solon Springs, WI 54873 Full Service B&M $36,447

For 2021, National Bank Of Commerce had 10 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $48,400
Net interest income $46,437
Total noninterest income $8,499
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,273
Trading account gains and fees $0
Additional Noninterest Income $7,226
Pre-tax net operating income $25,992
Securities gains (or losses, -) $-78
Income before extraordinary items $24,572
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $24,572
Minority interest net income $0
Net income $24,572
Sale, conversion, retirement of capital stock, net $0
Net operating income $24,646

National Bank Of Commerce's gross interest income from loans was $48,400,000.
National Bank Of Commerce's net interest income from loans was $46,437,000.
National Bank Of Commerce's fee based income from loans was $1,273,000.
National Bank Of Commerce's net income from loans was $24,572,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,963
Provision for credit losses $136
Total noninterest expense $28,808
Salaries and employee benefits $18,873
Premises and equipment expense $2,425
Additional noninterest expense $7,510
Applicable income taxes $1,342
Net charge-offs $178
Cash dividends $11,600

National Bank Of Commerce's interest expense for loans was $1,963,000.
National Bank Of Commerce's payroll and benefits expense were $18,873,000.
National Bank Of Commerce's property, plant and equipment expenses $2,425,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
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 2.0%
HELOC loans 9.0%
All other family 1.0%
Commercial & industrial loans 1.0%
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 $993,937
Deposits held in domestic offices $993,937
Deposits by Individuals, partnerships, and corporations $932,932
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $58,155
Deposits by Commercial banks and other depository institutions in U.S. $2,850
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $434,797
Demand deposits $284,279
Nontransaction accounts $559,140
Money market deposit accounts (MMDAs) $280,384
Other savings deposits (excluding MMDAs) $126,881
Total time deposits $151,876
Total time and savings deposits $709,658
Noninterest-bearing deposits $266,315
Interest-bearing deposits $727,622
Retail deposits $938,607
IRAs and Keogh plan accounts $17,963
Brokered deposits $33,120
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,197,655
Cash & Balances due from depository institutions $13,796
Interest-bearing balances $3,203
Total securities $221,170
Federal funds sold & reverse repurchase $0
Net loans and leases $908,935
Loan and leases loss allowance $9,316
Trading account assets $0
Bank premises and fixed assets $16,290
Other real estate owned $0
Goodwill and other intangibles $8,767
All other assets $28,697

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,197,655
Total Liabilities $1,052,408
Total deposits $993,937
Interest-bearing deposits $727,622
Deposits held in domestic offices $993,937
% insured (estimated) $70
Federal funds purchased and repurchase agreements $12,877
Trading liabilities $0
Other borrowed funds $43,285
Subordinated debt $0
All other liabilities $2,309

Issued Loan Types

Type Value (in 000's)
Net loans and leases $908,935
Loan and leases loss allowance $9,316
Total loans and leases (domestic) $918,251
All real estate loans $694,639
Real estate loans in domestic offices $694,639
Construction and development loans $85,566
Residential 1-4 family construction $24,485
Other construction, all land development and other land $61,081
Loans secured by nonfarm nonresidential properties $318,442
Nonfarm nonresidential secured by owner-occupied properties $114,223
Commercial real estate & other non-farm, non-residential $204,219
Multifamily residential real estate $83,141
1-4 family residential loans $207,263
Farmland loans $227
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $153,795
To non-U.S. addressees $0
Loans to individuals $14,593
Credit card loans $0
Related Plans $3,920
Consumer Auto Loans $4,090
Other loans to individuals $6,583
All other loans & leases $55,223
Loans to foreign governments and official institutions $0
Other loans $17,272
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $3,573
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $571
Non 1-4 family restructured loans & leases $571
Total loans and leases (foreign) $0

National Bank of Commerce had $908,935,000 of loans outstanding in 2021. $694,639,000 of loans were in real estate loans. $85,566,000 of loans were in development loans. $83,141,000 of loans were in multifamily mortgage loans. $207,263,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,090,000 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 384 $97,376 $253,583
Nonfarm, nonresidential loans - <$100k 56 $2,734 $48,821
Nonfarm, nonresidential loans - $100-250k 132 $17,355 $131,477
Nonfarm, nonresidential loans - $250k-1MM 196 $77,287 $394,321
Commercial & Industrial, US addressed loans - <$1MM 748 $65,119 $87,057
Commercial & Industrial, US addressed loans - <$100k 448 $10,260 $22,902
Commercial & Industrial, US addressed loans - $100-250k 149 $11,576 $77,691
Commercial & Industrial, US addressed loans - $250k-1MM 151 $43,283 $286,642
Farmland loans - <$1MM 4 $227 $56,750
Farmland loans - $100-250k 3 $201 $67,000
Farmland loans - $250k-1MM 1 $26 $26,000