Frandsen Bank & Trust Mortgage Rates, Fees & Info
Lonsdale, MN
LEI: 549300ZZZUYWXK72JD21
Tax ID: 41-0947097
5 stars
-
out of 5 stars, based on 45 reviews
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Mortgage Data
Bank Data
Overview
Frandsen Bank & Trust is a
smaller
bank
specializing in
Refi and Home Purchase loans.
Frandsen Bank & Trust has a high proportion of conventional loans.
They have a low ratio of USDA loans.
Their top markets include Minneapolis, Duluth, Grand Forks, Brainerd, and Faribault among others. Frandsen Bank & Trust 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.
Frandsen Bank & Trust is typically
an average fee
lendor.
Originations
2,057
Origination Dollar Volume (All Markets)
$446,705,000
Employee count
401
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Frandsen Bank & Trust - 2021
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Relative Rate
Frandsen Bank & Trust's average 30 year fixed rate mortgage of loans were
3.04%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.11%.
Relative Fees
Frandsen Bank & Trust's average total fees for a 30 year fixed rate
mortgage are $3,891.
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 |
|
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)
|
562
|
$146,410,000 |
$260,516 |
$4,006 |
2.99% |
|
DULUTH, MN-WI (FHA|USDA|VA)
|
404
|
$85,380,000 |
$211,337 |
$3,972 |
3.15% |
|
Outside of Metro Areas
|
340 |
$55,270,000 |
$162,559 |
$3,199 |
3.03% |
|
GRAND FORKS, ND-MN (FHA|USDA|VA)
|
155
|
$29,285,000 |
$188,935 |
$3,622 |
2.92% |
|
Brainerd, MN (FHA|USDA|VA)
|
123
|
$27,335,000 |
$222,236 |
$2,768 |
3.02% |
|
Faribault-Northfield, MN (FHA|USDA|VA)
|
99
|
$21,615,000 |
$218,333 |
$3,930 |
2.96% |
|
MANKATO, MN (FHA|USDA|VA)
|
97
|
$19,575,000 |
$201,804 |
$3,018 |
2.89% |
|
New Ulm, MN (FHA|USDA|VA)
|
94
|
$14,300,000 |
$152,128 |
$3,204 |
3.12% |
|
EAU CLAIRE, WI (FHA|USDA|VA)
|
45
|
$10,845,000 |
$241,000 |
$2,353 |
2.87% |
|
ST. CLOUD, MN (FHA|USDA|VA)
|
40
|
$6,270,000 |
$156,750 |
$3,582 |
2.84% |
|
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)
|
8
|
$4,080,000 |
$510,000 |
$4,294 |
3.02% |
|
Hutchinson, MN (FHA|USDA|VA)
|
10
|
$1,840,000 |
$184,000 |
$3,901 |
2.73% |
|
Grand Rapids, MN (FHA|USDA|VA)
|
8
|
$1,720,000 |
$215,000 |
$4,602 |
3.05% |
|
FARGO, ND-MN (FHA|USDA|VA)
|
5
|
$1,605,000 |
$321,000 |
$4,867 |
3.46% |
|
Bemidji, MN (FHA|USDA|VA)
|
5
|
$1,435,000 |
$287,000 |
$4,669 |
3.03% |
|
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)
|
2
|
$1,430,000 |
$715,000 |
$9,575 |
3.05% |
|
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)
|
5
|
$1,315,000 |
$263,000 |
$4,365 |
2.65% |
|
Fergus Falls, MN (FHA|USDA|VA)
|
3
|
$1,255,000 |
$418,333 |
$6,830 |
3.01% |
|
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)
|
5
|
$1,215,000 |
$243,000 |
$4,233 |
2.90% |
|
Alexandria, MN (FHA|USDA|VA)
|
4
|
$1,210,000 |
$302,500 |
$4,349 |
2.98% |
|
ROCHESTER, MN (FHA|USDA|VA)
|
6
|
$1,200,000 |
$200,000 |
$2,627 |
2.62% |
|
MADISON, WI (FHA|USDA|VA)
|
2
|
$910,000 |
$455,000 |
$4,081 |
2.90% |
|
LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA)
|
1
|
$745,000 |
$745,000 |
$5,203 |
2.55% |
|
Owatonna, MN (FHA|USDA|VA)
|
4
|
$740,000 |
$185,000 |
$4,130 |
3.13% |
|
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)
|
1
|
$735,000 |
$735,000 |
$0 |
3.13% |
|
JACKSONVILLE, FL (FHA|USDA|VA)
|
1
|
$685,000 |
$685,000 |
$7,550 |
2.99% |
|
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA)
|
2
|
$650,000 |
$325,000 |
$2,331 |
3.19% |
|
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)
|
2
|
$620,000 |
$310,000 |
$3,066 |
2.56% |
|
Sebastian-Vero Beach, FL (FHA|USDA|VA)
|
3
|
$605,000 |
$201,667 |
$4,576 |
2.75% |
|
Willmar, MN (FHA|USDA|VA)
|
2
|
$600,000 |
$300,000 |
$2,894 |
2.43% |
|
WAUSAU-WESTON, WI (FHA|USDA|VA)
|
1
|
$595,000 |
$595,000 |
$4,710 |
2.92% |
|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)
|
1
|
$545,000 |
$545,000 |
$3,266 |
2.63% |
|
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA)
|
1
|
$545,000 |
$545,000 |
$5,860 |
2.50% |
|
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA)
|
2
|
$470,000 |
$235,000 |
$4,136 |
2.75% |
|
Whitewater, WI (FHA|USDA|VA)
|
1
|
$455,000 |
$455,000 |
$7,979 |
2.75% |
|
TUCSON, AZ (FHA|USDA|VA)
|
1
|
$405,000 |
$405,000 |
$8,322 |
2.38% |
|
Watertown, SD (FHA|USDA|VA)
|
1
|
$375,000 |
$375,000 |
$5,607 |
2.75% |
|
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA)
|
1
|
$355,000 |
$355,000 |
$5,240 |
2.88% |
|
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA)
|
1
|
$325,000 |
$325,000 |
$4,888 |
3.00% |
|
Winona, MN (FHA|USDA|VA)
|
1
|
$315,000 |
$315,000 |
$5,130 |
3.25% |
|
BISMARCK, ND (FHA|USDA|VA)
|
1
|
$305,000 |
$305,000 |
$5,982 |
3.13% |
|
Wahpeton, ND-MN (FHA|USDA|VA)
|
1
|
$265,000 |
$265,000 |
$5,884 |
2.75% |
|
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)
|
2
|
$250,000 |
$125,000 |
$4,515 |
4.87% |
|
Albert Lea, MN (FHA|USDA|VA)
|
1
|
$235,000 |
$235,000 |
$2,624 |
2.50% |
|
Fairmont, MN (FHA|USDA|VA)
|
1
|
$195,000 |
$195,000 |
$2,526 |
2.88% |
|
Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA)
|
1
|
$135,000 |
$135,000 |
$1,439 |
2.75% |
|
Menomonie, WI (FHA|USDA|VA)
|
1
|
$55,000 |
$55,000 |
$2,299 |
2.38% |
Frandsen Bank & Trust's top markets include Minneapolis, Duluth, Grand Forks, Brainerd, and Faribault among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
2,038 |
$443,650,000 |
$217,689 |
$3,623 |
3.02% |
| USDA |
19 |
$3,055,000 |
$160,789 |
$5,805 |
2.76% |
For the 2021 period, Frandsen Bank & Trust's most frequently
originated loan type
of loans were Conventional, with 2,038 originations.
Their 2nd most popular type is USDA,
with 19 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Refi |
829 |
$183,835,000 |
$221,755 |
$3,310 |
2.83% |
| Home Purchase |
715 |
$165,395,000 |
$231,322 |
$4,185 |
3.27% |
| Cash Out Refi |
429 |
$86,685,000 |
$202,063 |
$3,735 |
2.82% |
| Other |
50 |
$7,730,000 |
$154,600 |
$2,830 |
3.39% |
| Home Improvement |
34 |
$3,060,000 |
$90,000 |
$1,733 |
3.96% |
For the 2021, Frandsen Bank & Trust's most frequently cited loan
purpose
of loans were Refi, with 829
originations.
The 2nd most popular reason of loans were Home Purchase,
with 715 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 30 Year |
888 |
$198,830,000 |
$223,908 |
$3,891 |
3.04% |
| 15 Year |
739 |
$159,595,000 |
$215,961 |
$3,485 |
2.65% |
| 20 Year |
226 |
$44,670,000 |
$197,655 |
$3,406 |
3.26% |
| 5 Year |
72 |
$16,270,000 |
$225,972 |
$1,438 |
4.31% |
| Other |
71 |
$17,315,000 |
$243,873 |
$3,741 |
3.92% |
| 10 Year |
50 |
$7,540,000 |
$150,800 |
$2,328 |
3.48% |
| 1 Year |
8 |
$1,590,000 |
$198,750 |
$4,037 |
3.98% |
| 30+ year |
2 |
$800,000 |
$400,000 |
$7,665 |
3.99% |
| 3 Year |
1 |
$95,000 |
$95,000 |
$2,774 |
3.70% |
For the 2021, Frandsen Bank & Trust's most frequently cited loan
length
of loans were 30 Year, with 888 originations.
The 2nd most popular length of loans were 15 Year,
with 739 originations.
Origination Fees
| Origination Fee |
Originations |
Total Value |
Average Loan |
| $1k-2k |
586 |
$84,210,000 |
$143,703 |
| $<1k |
521 |
$99,065,000 |
$190,144 |
| $2k-3k |
500 |
$107,820,000 |
$215,640 |
| $3k-4k |
254 |
$94,470,000 |
$371,929 |
| $5k+ |
33 |
$20,145,000 |
$610,455 |
$3,891 of loans were Frandsen Bank & Trust's
average total fees, while their most
frequently occuring range of origination fees were in the
$1k-2k bucket,
with 586 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| 2.5-3% |
778 |
$180,850,000 |
$232,455 |
| 3-4% |
592 |
$139,640,000 |
$235,878 |
| <2.5% |
537 |
$101,265,000 |
$188,575 |
| 4-5% |
113 |
$22,345,000 |
$197,743 |
| 5-6% |
27 |
$1,665,000 |
$61,667 |
| 6-7% |
7 |
$755,000 |
$107,857 |
| 7-8% |
3 |
$185,000 |
$61,667 |
During 2021, Frandsen Bank & Trust's average interest
rate of loans were 3.04%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 778 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-200k |
861 |
$127,555,000 |
$148,148 |
$3,294 |
2.94% |
| $200k-400k |
678 |
$186,680,000 |
$275,339 |
$4,131 |
2.96% |
| $100,000 or less |
331 |
$22,535,000 |
$68,082 |
$2,372 |
3.30% |
| $400k-600k |
136 |
$64,590,000 |
$474,926 |
$5,302 |
2.93% |
| $600k-1MM |
39 |
$29,105,000 |
$746,282 |
$6,836 |
3.25% |
| $1MM+ |
12 |
$16,240,000 |
$1,353,333 |
$10,034 |
3.46% |
2021 saw Frandsen Bank & Trust place emphasis on
$100k-200k loans
with 861 originations, totaling
$127,555,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-150k |
422 |
$95,040,000 |
$225,213 |
$3,707 |
2.97% |
| $50k-75k |
421 |
$65,635,000 |
$155,903 |
$3,381 |
2.95% |
| $75k-100k |
332 |
$62,700,000 |
$188,855 |
$3,620 |
3.00% |
| $50k or less |
289 |
$34,315,000 |
$118,737 |
$3,064 |
3.03% |
| $150k-250k |
282 |
$80,200,000 |
$284,397 |
$4,278 |
2.90% |
| $250k+ |
143 |
$61,945,000 |
$433,182 |
$4,667 |
2.91% |
Frandsen Bank & Trust lent most frequently to those with incomes in the
$100k-150k range, with
422 originations.
The second most popular income band? $50k-75k,
with 421 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-30% |
590 |
$128,940,000 |
$218,542 |
$3,530 |
2.88% |
| 30-36% |
435 |
$91,735,000 |
$210,885 |
$3,728 |
3.03% |
| <20% |
261 |
$51,775,000 |
$198,372 |
$3,296 |
2.78% |
| 36% |
73 |
$15,375,000 |
$210,616 |
$3,627 |
2.98% |
| 43% |
72 |
$15,120,000 |
$210,000 |
$3,580 |
2.90% |
| 39% |
65 |
$13,975,000 |
$215,000 |
$3,986 |
3.07% |
| 41% |
63 |
$12,335,000 |
$195,794 |
$3,824 |
2.89% |
| 40% |
60 |
$14,000,000 |
$233,333 |
$3,956 |
3.04% |
| 42% |
58 |
$12,160,000 |
$209,655 |
$3,784 |
2.90% |
| 38% |
54 |
$9,600,000 |
$177,778 |
$3,666 |
3.10% |
| 37% |
53 |
$10,105,000 |
$190,660 |
$3,706 |
3.16% |
| 44% |
53 |
$12,205,000 |
$230,283 |
$3,601 |
3.05% |
| 45% |
18 |
$4,330,000 |
$240,556 |
$4,663 |
2.74% |
| 46% |
18 |
$4,190,000 |
$232,778 |
$4,488 |
3.14% |
| 48% |
14 |
$4,010,000 |
$286,429 |
$4,185 |
2.88% |
| 47% |
11 |
$2,425,000 |
$220,455 |
$3,116 |
2.96% |
| 50-60% |
11 |
$2,205,000 |
$200,455 |
$4,393 |
3.57% |
| >60% |
9 |
$3,655,000 |
$406,111 |
$6,520 |
3.71% |
| 49% |
7 |
$1,855,000 |
$265,000 |
$4,290 |
3.38% |
Frandsen Bank & Trust lent most frequently to those with DTI ratios
of 20-30%, with
590 originations.
The next most common DTI ratio? 30-36%,
with 435 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
1,815 |
$383,135,000 |
$211,094 |
$3,625 |
2.95% |
| Not applicable |
116 |
$33,690,000 |
$290,431 |
$0 |
3.95% |
| Not provided |
104 |
$24,540,000 |
$235,962 |
$3,993 |
3.05% |
| Asian |
11 |
$3,135,000 |
$285,000 |
$3,823 |
3.17% |
| American Indian |
7 |
$1,065,000 |
$152,143 |
$3,501 |
3.28% |
| Native Hawaiian |
1 |
$605,000 |
$605,000 |
$5,767 |
3.88% |
| Black |
3 |
$535,000 |
$178,333 |
$3,522 |
2.29% |
Approval Rates
Total approvals of all applications
95.20%
Frandsen Bank & Trust has an exceptionally high approval rate. They
either target their audience
very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination
83.73%
Frandsen Bank & Trust has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| 7.5 |
1 |
$25,000 |
$25,000 |
| 75.0 |
1 |
$95,000 |
$95,000 |
| 82.5 |
2 |
$100,000 |
$50,000 |
| NA |
2,053 |
$446,485,000 |
$217,479 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
2,057 |
$446,705,000 |
$217,163 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
155 |
$18,175,000 |
$117,258 |
$2,696 |
2.89% |
| 40-60% |
429 |
$81,765,000 |
$190,594 |
$3,283 |
2.79% |
| 60-80% |
980 |
$232,700,000 |
$237,449 |
$3,757 |
3.06% |
| 80-100% |
444 |
$110,700,000 |
$249,324 |
$4,354 |
3.08% |
| Over 100% |
3 |
$1,015,000 |
$338,333 |
$6,746 |
3.41% |
| Under 20% |
46 |
$2,350,000 |
$51,087 |
$1,202 |
4.04% |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| Fairway Independent Mortgage Corporation |
Conventional home mortgage |
Applying for a mortgage or refinancing an existing mortgage |
11 |
22.9% |
| Fairway Independent Mortgage Corporation |
Conventional home mortgage |
Closing on a mortgage |
3 |
6.3% |
| Fairway Independent Mortgage Corporation |
Conventional home mortgage |
Struggling to pay mortgage |
3 |
6.3% |
| Fairway Independent Mortgage Corporation |
Conventional home mortgage |
Trouble during payment process |
11 |
22.9% |
| Fairway Independent Mortgage Corporation |
FHA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
2 |
4.2% |
| Fairway Independent Mortgage Corporation |
FHA mortgage |
Closing on a mortgage |
3 |
6.3% |
| Fairway Independent Mortgage Corporation |
FHA mortgage |
Struggling to pay mortgage |
1 |
2.1% |
| Fairway Independent Mortgage Corporation |
FHA mortgage |
Trouble during payment process |
2 |
4.2% |
| Fairway Independent Mortgage Corporation |
Other type of mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
2.1% |
| Fairway Independent Mortgage Corporation |
Other type of mortgage |
Closing on a mortgage |
3 |
6.3% |
| Fairway Independent Mortgage Corporation |
Other type of mortgage |
Struggling to pay mortgage |
1 |
2.1% |
| Fairway Independent Mortgage Corporation |
Reverse mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
2.1% |
| Fairway Independent Mortgage Corporation |
VA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
2 |
4.2% |
| Fairway Independent Mortgage Corporation |
VA mortgage |
Closing on a mortgage |
1 |
2.1% |
| Fairway Independent Mortgage Corporation |
VA mortgage |
Trouble during payment process |
3 |
6.3% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Frandsen Bank & Trust |
100 North Minnesota Street New Ulm, MN 56073 |
Full Service B&M
|
$93,623 |
| Frandsen Bank & Trust |
331 West Superior Street Duluth, MN 55802 |
Full Service B&M
|
$35,942 |
| Frandsen Bank & Trust |
341 Fourth Avenue Foley, MN 56329 |
Limited, Drive-thru
|
$0 |
| Frandsen Bank & Trust |
341 Fourth Avenue Foley, MN 56329 |
Full Service B&M
|
$75,472 |
| Frandsen Bank & Trust |
35470 Cty Rd 3 Crosslake, MN 56442 |
Full Service B&M
|
$0 |
| Frandsen Bank & Trust |
3585 Us Highway 61 North Vadnais Heights, MN 55110 |
Full Service B&M
|
$74,706 |
| Frandsen Bank & Trust |
410 Second Street West Ada, MN 56510 |
Full Service B&M
|
$47,694 |
| Frandsen Bank & Trust |
415 Main St Tower, MN 55790 |
Full Service B&M
|
$20,510 |
| Frandsen Bank & Trust |
4251 Southtowne Drive Eau Claire, WI 54701 |
Full Service B&M
|
$104,023 |
| Frandsen Bank & Trust |
501 Chestnut St Virginia, MN 55792 |
Full Service B&M
|
$121,398 |
| Frandsen Bank & Trust |
524-528 North First Street Warren, MN 56762 |
Full Service B&M
|
$34,661 |
| Frandsen Bank & Trust |
560 East Third Avenue Pine City, MN 55063 |
Full Service B&M
|
$72,384 |
| Frandsen Bank & Trust |
712 Hwy 33 S. Cloquet, MN 55720 |
Full Service B&M
|
$80,121 |
| Frandsen Bank & Trust |
715 Stafford Road North Dundas, MN 55019 |
Full Service B&M
|
$60,463 |
| Frandsen Bank & Trust |
165 Main St Clinton, MN 56225 |
Full Service B&M
|
$64,983 |
| Frandsen Bank & Trust |
1661 Commerce Drive North Mankato, MN 56003 |
Full Service B&M
|
$0 |
| Frandsen Bank & Trust |
200 Creek Lane Jordan, MN 55352 |
Full Service B&M
|
$68,854 |
| Frandsen Bank & Trust |
200 Main Street South Luck, WI 54853 |
Full Service B&M
|
$57,900 |
| Frandsen Bank & Trust |
2001 West Broadway Avenue Forest Lake, MN 55025 |
Full Service B&M
|
$84,637 |
| Frandsen Bank & Trust |
20280 Iberia Avenue Lakeville, MN 55044 |
Full Service B&M
|
$52,533 |
| Frandsen Bank & Trust |
205 South Main Street Bird Island, MN 55310 |
Full Service B&M
|
$46,976 |
| Frandsen Bank & Trust |
206 Main Street Hector, MN 55342 |
Full Service B&M
|
$48,991 |
| Frandsen Bank & Trust |
212 Main Street Oslo, MN 56744 |
Full Service B&M
|
$28,797 |
| Frandsen Bank & Trust |
24110 Smiley Road Nisswa, MN 56468 |
Full Service B&M
|
$0 |
| Frandsen Bank & Trust |
245 Belgrade Avenue North Mankato, MN 56003 |
Limited, Drive-thru
|
$0 |
| Frandsen Bank & Trust |
245 Belgrade Avenue North Mankato, MN 56003 |
Full Service B&M
|
$157,681 |
| Frandsen Bank & Trust |
320 East Main Street Waterville, MN 56096 |
Full Service B&M
|
$33,352 |
| Frandsen Bank & Trust |
7303 161st Street Lakeville, MN 55044 |
Full Service B&M
|
$26,823 |
| Frandsen Bank & Trust |
7429 Excelsior Rd Baxter, MN 56425 |
Full Service B&M
|
$88,543 |
| Frandsen Bank & Trust |
100 S Park St Fairfax, MN 55332 |
Full Service B&M
|
$35,799 |
| Frandsen Bank & Trust |
102 East Sheridan Ely, MN 55731 |
Full Service B&M
|
$34,673 |
| Frandsen Bank & Trust |
10583 Main Street Hayward, WI 54843 |
Full Service B&M
|
$182,960 |
| Frandsen Bank & Trust |
116 Central Street West Lonsdale, MN 55046 |
Full Service B&M
|
$68,996 |
| Frandsen Bank & Trust |
121 South Main Braham, MN 55006 |
Full Service B&M
|
$52,338 |
| Frandsen Bank & Trust |
125 First Street South Montgomery, MN 56069 |
Full Service B&M
|
$86,881 |
| Frandsen Bank & Trust |
1413 Central Avenue, N.W. East Grand Forks, MN 56721 |
Full Service B&M
|
$87,579 |
| Frandsen Bank & Trust |
1580 Madison Avenue Mankato, MN 56001 |
Full Service B&M
|
$0 |
| Frandsen Bank & Trust |
1616 South Washington Street Grand Forks, ND 58201 |
Full Service B&M
|
$136,480 |
For 2021, Frandsen Bank & Trust had 38 branches.
Yearly Performance Overview
Bank Income
Frandsen Bank & Trust's gross interest income from loans was $86,823,000.
Frandsen Bank & Trust's net interest income from loans was $84,758,000.
Frandsen Bank & Trust's fee based income from loans was $3,273,000.
Frandsen Bank & Trust's net income from loans was $38,960,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$2,065 |
| Provision for credit losses |
$750 |
| Total noninterest expense |
$70,214 |
| Salaries and employee benefits |
$42,879 |
| Premises and equipment expense |
$6,320 |
| Additional noninterest expense |
$21,015 |
| Applicable income taxes |
$3,156 |
| Net charge-offs |
$-150 |
| Cash dividends |
$31,537 |
Frandsen Bank & Trust's interest expense for loans was $2,065,000.
Frandsen Bank & Trust's payroll and benefits expense were $42,879,000.
Frandsen Bank & Trust's property, plant and equipment expenses $6,320,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$2,378,448 |
| Deposits held in domestic offices |
$2,378,448 |
| Deposits by Individuals, partnerships, and corporations |
$2,225,812 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$152,630 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$6 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$133,372 |
| Demand deposits |
$133,366 |
| Nontransaction accounts |
$2,245,076 |
| Money market deposit accounts (MMDAs) |
$479,721 |
| Other savings deposits (excluding MMDAs) |
$1,637,629 |
| Total time deposits |
$127,727 |
| Total time and savings deposits |
$2,245,082 |
| Noninterest-bearing deposits |
$769,697 |
| Interest-bearing deposits |
$1,608,751 |
| Retail deposits |
$2,352,107 |
| IRAs and Keogh plan accounts |
$34,260 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$2,730,710 |
| Cash & Balances due from depository institutions |
$35,770 |
| Interest-bearing balances |
$2,327 |
| Total securities |
$893,745 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$1,574,140 |
| Loan and leases loss allowance |
$22,469 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$33,246 |
| Other real estate owned |
$35 |
| Goodwill and other intangibles |
$116,866 |
| All other assets |
$76,908 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$2,730,710 |
| Total Liabilities |
$2,438,575 |
| Total deposits |
$2,378,448 |
| Interest-bearing deposits |
$1,608,751 |
| Deposits held in domestic offices |
$2,378,448 |
| % insured (estimated) |
$83 |
| Federal funds purchased and repurchase agreements |
$33,775 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$12,200 |
| Subordinated debt |
$0 |
| All other liabilities |
$14,152 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$1,574,140 |
| Loan and leases loss allowance |
$22,469 |
| Total loans and leases (domestic) |
$1,596,609 |
| All real estate loans |
$1,223,048 |
| Real estate loans in domestic offices |
$1,223,048 |
| Construction and development loans |
$107,210 |
| Residential 1-4 family construction |
$26,421 |
| Other construction, all land development and other land |
$80,789 |
| Loans secured by nonfarm nonresidential properties |
$471,269 |
| Nonfarm nonresidential secured by owner-occupied properties |
$235,132 |
| Commercial real estate & other non-farm, non-residential |
$236,137 |
| Multifamily residential real estate |
$79,261 |
| 1-4 family residential loans |
$449,722 |
| Farmland loans |
$115,586 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$99,522 |
| Commercial and industrial loans |
$198,757 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$38,514 |
| Credit card loans |
$0 |
| Related Plans |
$1,671 |
| Consumer Auto Loans |
$14,455 |
| Other loans to individuals |
$22,388 |
| All other loans & leases |
$36,768 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$1,763 |
| 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 |
$1,717 |
| Non 1-4 family restructured loans & leases |
$529 |
| Total loans and leases (foreign) |
$0 |
Frandsen Bank & Trust had $1,574,140,000 of loans outstanding in 2021. $1,223,048,000 of loans were in real estate loans.
$107,210,000 of loans were in development loans. $79,261,000 of loans were in multifamily mortgage loans.
$449,722,000 of loans were in 1-4 family mortgage loans. $99,522,000 of loans were in farm loans. $0
of loans were in credit card loans. $14,455,000 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 |
758 |
$166,939 |
$220,236 |
| Nonfarm, nonresidential loans - <$100k |
176 |
$8,056 |
$45,773 |
| Nonfarm, nonresidential loans - $100-250k |
282 |
$37,212 |
$131,957 |
| Nonfarm, nonresidential loans - $250k-1MM |
300 |
$121,671 |
$405,570 |
| Commercial & Industrial, US addressed loans - <$1MM |
1,467 |
$137,858 |
$93,973 |
| Commercial & Industrial, US addressed loans - <$100k |
1,157 |
$82,000 |
$70,873 |
| Commercial & Industrial, US addressed loans - $100-250k |
192 |
$18,791 |
$97,870 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
118 |
$37,067 |
$314,127 |
| Farmland loans - <$1MM |
422 |
$78,810 |
$186,754 |
| Farmland loans - <$100k |
127 |
$5,901 |
$46,465 |
| Farmland loans - $100-250k |
148 |
$17,253 |
$116,574 |
| Farmland loans - $250k-1MM |
147 |
$55,656 |
$378,612 |
| Agriculture operations loans - <$1MM |
836 |
$54,447 |
$65,128 |
| Agriculture operations loans - <$100k |
445 |
$11,856 |
$26,643 |
| Agriculture operations loans - $100-250k |
196 |
$19,214 |
$98,031 |
| Agriculture operations loans - $250k-1MM |
195 |
$23,377 |
$119,882 |
