Frandsen Bank & Trust Mortgage Lending & HMDA Data, 2023
In 2023, Frandsen Bank & Trust of Lonsdale, MN reported 1,479 mortgage applications totaling $328.6 million, down 6% from 2022. The average application was for $222,146, and applicants reported an average income of $166,728. 80% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Duluth, MN-WI (335), Minneapolis-St. Paul-Bloomington, MN-WI (318) and Grand Forks, ND-MN (94) (applications in parentheses).
| Mortgage Company & Address | Frandsen Bank & Trust 116 Central Street West Lonsdale, MN 55046 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 |
| Total Number of Mortgage Applications | 1,479 |
| Total Mortgage Loan Application Amount | $328,555,000 |
| Average Mortgage Loan Application Amount | $222,146 |
| Highest Mortgage Loan Application Amount | $8,825,000 |
| Average Applicant Income | $166,728 |
| Highest Applicant Income | $5,282,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Frandsen Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| St. Louis, Minnesota | 244 | $ 45,160,000 | $ 185,081 | $ 146,000 |
| Hennepin, Minnesota | 65 | $ 24,045,000 | $ 369,923 | $ 257,000 |
| Rice, Minnesota | 62 | $ 10,270,000 | $ 165,645 | $ 140,000 |
| Carlton, Minnesota | 55 | $ 10,025,000 | $ 182,272 | $ 141,000 |
| Polk, Minnesota | 49 | $ 6,335,000 | $ 129,285 | $ 121,000 |
| Olmsted, Minnesota | 48 | $ 14,880,000 | $ 310,000 | $ 171,000 |
| Goodhue, Minnesota | 45 | $ 6,065,000 | $ 134,777 | $ 154,000 |
| Grand Forks, North Dakota | 45 | $ 9,335,000 | $ 207,444 | $ 127,000 |
| Brown, Minnesota | 43 | $ 5,885,000 | $ 136,860 | $ 136,000 |
| Dakota, Minnesota | 40 | $ 10,800,000 | $ 270,000 | $ 243,000 |
| Scott, Minnesota | 40 | $ 7,930,000 | $ 198,250 | $ 167,000 |
| Polk, Wisconsin | 40 | $ 4,710,000 | $ 117,750 | $ 104,000 |
| Blue Earth, Minnesota | 39 | $ 6,695,000 | $ 171,666 | $ 133,000 |
| Le Sueur, Minnesota | 39 | $ 7,185,000 | $ 184,230 | $ 143,000 |
| Crow Wing, Minnesota | 35 | $ 11,605,000 | $ 331,571 | $ 208,000 |
| Pine, Minnesota | 32 | $ 5,510,000 | $ 172,187 | $ 112,000 |
| Nicollet, Minnesota | 30 | $ 4,680,000 | $ 156,000 | $ 157,000 |
| Renville, Minnesota | 28 | $ 2,920,000 | $ 104,285 | $ 102,000 |
| Isanti, Minnesota | 27 | $ 4,615,000 | $ 170,925 | $ 125,000 |
| Eau Claire, Wisconsin | 26 | $ 9,100,000 | $ 350,000 | $ 236,000 |
| Sawyer, Wisconsin | 26 | $ 5,390,000 | $ 207,307 | $ 195,000 |
| Ramsey, Minnesota | 25 | $ 9,935,000 | $ 397,400 | $ 194,000 |
| Anoka, Minnesota | 24 | $ 6,030,000 | $ 251,250 | $ 167,000 |
| Benton, Minnesota | 24 | $ 4,140,000 | $ 172,500 | $ 124,000 |
| Douglas, Wisconsin | 20 | $ 5,980,000 | $ 299,000 | $ 211,000 |
| Burnett, Wisconsin | 19 | $ 2,945,000 | $ 155,000 | $ 160,000 |
| Cass, Minnesota | 18 | $ 5,140,000 | $ 285,555 | $ 323,000 |
| Chisago, Minnesota | 18 | $ 4,330,000 | $ 240,555 | $ 143,000 |
| Lake, Minnesota | 16 | $ 3,080,000 | $ 192,500 | $ 175,000 |
| Washington, Minnesota | 16 | $ 5,170,000 | $ 323,125 | $ 251,000 |
| Chippewa, Wisconsin | 13 | $ 12,475,000 | $ 959,615 | $ 237,000 |
| Big Stone, Minnesota | 10 | $ 1,100,000 | $ 110,000 | $ 73,000 |
| Kanabec, Minnesota | 10 | $ 2,030,000 | $ 203,000 | $ 80,000 |
| Bayfield, Wisconsin | 10 | $ 1,690,000 | $ 169,000 | $ 182,000 |
| Norman, Minnesota | 9 | $ 855,000 | $ 95,000 | $ 56,000 |
| Maricopa, Arizona | 7 | $ 4,605,000 | $ 657,857 | $ 1,311,000 |
| Dodge, Minnesota | 7 | $ 1,265,000 | $ 180,714 | $ 161,000 |
| Marshall, Minnesota | 7 | $ 355,000 | $ 50,714 | $ 81,000 |
| Morrison, Minnesota | 7 | $ 1,315,000 | $ 187,857 | $ 124,000 |
| Stearns, Minnesota | 7 | $ 1,555,000 | $ 222,142 | $ 179,000 |
| Carver, Minnesota | 6 | $ 2,130,000 | $ 355,000 | $ 168,000 |
| Itasca, Minnesota | 6 | $ 940,000 | $ 156,666 | $ 116,000 |
| Lee, Florida | 5 | $ 1,785,000 | $ 357,000 | $ 214,000 |
| Sherburne, Minnesota | 5 | $ 1,665,000 | $ 333,000 | $ 153,000 |
| Wright, Minnesota | 5 | $ 1,945,000 | $ 389,000 | $ 187,000 |
| Sibley, Minnesota | 4 | $ 360,000 | $ 90,000 | $ 129,000 |
| Cass, North Dakota | 4 | $ 720,000 | $ 180,000 | $ 115,000 |
| Washburn, Wisconsin | 4 | $ 350,000 | $ 87,500 | $ 64,000 |
| Pima, Arizona | 3 | $ 1,245,000 | $ 415,000 | $ 101,000 |
| Aitkin, Minnesota | 3 | $ 675,000 | $ 225,000 | $ 200,000 |
| Beltrami, Minnesota | 3 | $ 1,195,000 | $ 398,333 | $ 261,000 |
| Mille Lacs, Minnesota | 3 | $ 605,000 | $ 201,666 | $ 115,000 |
| Otter Tail, Minnesota | 3 | $ 745,000 | $ 248,333 | $ 212,000 |
| Steele, Minnesota | 3 | $ 465,000 | $ 155,000 | $ 214,000 |
| Stevens, Minnesota | 3 | $ 315,000 | $ 105,000 | $ 91,000 |
| Wabasha, Minnesota | 3 | $ 545,000 | $ 181,666 | $ 112,000 |
| Wadena, Minnesota | 3 | $ 535,000 | $ 178,333 | $ 90,000 |
| Dane, Wisconsin | 3 | $ 1,415,000 | $ 471,666 | $ 332,000 |
| Shawano, Wisconsin | 3 | $ 465,000 | $ 155,000 | $ 0 |
| St. Croix, Wisconsin | 3 | $ 955,000 | $ 318,333 | $ 151,000 |
| Collier, Florida | 2 | $ 450,000 | $ 225,000 | $ 181,000 |
| Cook, Minnesota | 2 | $ 2,870,000 | $ 1,435,000 | $ 117,000 |
| Douglas, Minnesota | 2 | $ 360,000 | $ 180,000 | $ 201,000 |
| Faribault, Minnesota | 2 | $ 110,000 | $ 55,000 | $ 80,000 |
| Hubbard, Minnesota | 2 | $ 520,000 | $ 260,000 | $ 123,000 |
| Kandiyohi, Minnesota | 2 | $ 610,000 | $ 305,000 | $ 44,000 |
| Lake of the Woods, Minnesota | 2 | $ 70,000 | $ 35,000 | $ 85,000 |
| Lyon, Minnesota | 2 | $ 490,000 | $ 245,000 | $ 247,000 |
| Martin, Minnesota | 2 | $ 450,000 | $ 225,000 | $ 210,000 |
| Mower, Minnesota | 2 | $ 280,000 | $ 140,000 | $ 154,000 |
| Pennington, Minnesota | 2 | $ 450,000 | $ 225,000 | $ 248,000 |
| Redwood, Minnesota | 2 | $ 140,000 | $ 70,000 | $ 50,000 |
| Waseca, Minnesota | 2 | $ 360,000 | $ 180,000 | $ 221,000 |
| Ashland, Wisconsin | 2 | $ 360,000 | $ 180,000 | $ 356,000 |
| La Crosse, Wisconsin | 2 | $ 1,670,000 | $ 835,000 | $ 474,000 |
| Pepin, Wisconsin | 2 | $ 220,000 | $ 110,000 | $ 56,000 |
| Pierce, Wisconsin | 2 | $ 320,000 | $ 160,000 | $ 148,000 |
| Sauk, Wisconsin | 2 | $ 570,000 | $ 285,000 | $ 268,000 |
| Vilas, Wisconsin | 2 | $ 480,000 | $ 240,000 | $ 70,000 |
| Mohave, Arizona | 1 | $ 105,000 | $ 105,000 | $ 157,000 |
| Clear Creek, Colorado | 1 | $ 145,000 | $ 145,000 | $ 185,000 |
| La Plata, Colorado | 1 | $ 555,000 | $ 555,000 | $ 336,000 |
| Citrus, Florida | 1 | $ 295,000 | $ 295,000 | $ 92,000 |
| Pinellas, Florida | 1 | $ 325,000 | $ 325,000 | $ 206,000 |
| Clinton, Iowa | 1 | $ 255,000 | $ 255,000 | $ 584,000 |
| Winnebago, Iowa | 1 | $ 45,000 | $ 45,000 | $ 72,000 |
| Becker, Minnesota | 1 | $ 25,000 | $ 25,000 | $ 58,000 |
| Clay, Minnesota | 1 | $ 355,000 | $ 355,000 | $ 220,000 |
| Clearwater, Minnesota | 1 | $ 245,000 | $ 245,000 | $ 121,000 |
| Fillmore, Minnesota | 1 | $ 155,000 | $ 155,000 | $ 42,000 |
| Freeborn, Minnesota | 1 | $ 65,000 | $ 65,000 | $ 45,000 |
| Koochiching, Minnesota | 1 | $ 125,000 | $ 125,000 | $ 46,000 |
| Lac qui Parle, Minnesota | 1 | $ 195,000 | $ 195,000 | $ 117,000 |
| Mahnomen, Minnesota | 1 | $ 115,000 | $ 115,000 | $ 0 |
| McLeod, Minnesota | 1 | $ 235,000 | $ 235,000 | $ 121,000 |
| Meeker, Minnesota | 1 | $ 225,000 | $ 225,000 | $ 203,000 |
| Murray, Minnesota | 1 | $ 165,000 | $ 165,000 | $ 48,000 |
| Traverse, Minnesota | 1 | $ 15,000 | $ 15,000 | $ 43,000 |
| Watonwan, Minnesota | 1 | $ 545,000 | $ 545,000 | $ 816,000 |
| Winona, Minnesota | 1 | $ 215,000 | $ 215,000 | $ 54,000 |
| Saunders, Nebraska | 1 | $ 165,000 | $ 165,000 | $ 0 |
| Burleigh, North Dakota | 1 | $ 5,000 | $ 5,000 | $ 101,000 |
| Ramsey, North Dakota | 1 | $ 95,000 | $ 95,000 | $ 167,000 |
| Traill, North Dakota | 1 | $ 185,000 | $ 185,000 | $ 91,000 |
| Walsh, North Dakota | 1 | $ 335,000 | $ 335,000 | $ 144,000 |
| Lycoming, Pennsylvania | 1 | $ 5,000 | $ 5,000 | $ 25,000 |
| Lawrence, South Dakota | 1 | $ 505,000 | $ 505,000 | $ 332,000 |
| Barron, Wisconsin | 1 | $ 125,000 | $ 125,000 | $ 88,000 |
| Brown, Wisconsin | 1 | $ 245,000 | $ 245,000 | $ 122,000 |
| Columbia, Wisconsin | 1 | $ 475,000 | $ 475,000 | $ 291,000 |
| Dunn, Wisconsin | 1 | $ 1,655,000 | $ 1,655,000 | $ 0 |
| Green Lake, Wisconsin | 1 | $ 985,000 | $ 985,000 | $ 606,000 |
| Iron, Wisconsin | 1 | $ 335,000 | $ 335,000 | $ 660,000 |
| Jefferson, Wisconsin | 1 | $ 285,000 | $ 285,000 | $ 216,000 |
| Marathon, Wisconsin | 1 | $ 195,000 | $ 195,000 | $ 85,000 |
| Marinette, Wisconsin | 1 | $ 505,000 | $ 505,000 | $ 451,000 |
| Rusk, Wisconsin | 1 | $ 185,000 | $ 185,000 | $ 154,000 |
| Trempealeau, Wisconsin | 1 | $ 105,000 | $ 105,000 | $ 54,000 |
| Washington, Wisconsin | 1 | $ 305,000 | $ 305,000 | $ 238,000 |
| Waukesha, Wisconsin | 1 | $ 485,000 | $ 485,000 | $ 350,000 |
Mortgage Loan Application Detail Totals for Frandsen Bank & Trust in 2023
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 770 | $237,520,000 | $308,000 | $8,825,000 | $186,000 | $5,282,000 |
| Home Improvement | 314 | $27,200,000 | $86,000 | $805,000 | $164,000 | $3,421,000 |
| Other Purpose | 206 | $19,200,000 | $93,000 | $555,000 | $136,000 | $862,000 |
| Refinancing | 159 | $39,215,000 | $246,000 | $4,075,000 | $131,000 | $816,000 |
| Cash-out Refinancing | 30 | $5,420,000 | $180,000 | $455,000 | $101,000 | $240,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 1,241 | $254,815,000 | $205,000 | $2,545,000 | $167,000 | $5,282,000 |
| Not applicable | 111 | $48,035,000 | $432,000 | $8,825,000 | $0 | $0 |
| Not Provided | 97 | $19,415,000 | $200,000 | $1,105,000 | $169,000 | $1,900,000 |
| Hispanic | 9 | $1,215,000 | $135,000 | $285,000 | $107,000 | $204,000 |
| Black or African American | 8 | $1,800,000 | $225,000 | $605,000 | $106,000 | $235,000 |
| American Indian or Alaskan Native | 7 | $1,415,000 | $202,000 | $445,000 | $115,000 | $308,000 |
| Asian | 5 | $1,355,000 | $271,000 | $505,000 | $314,000 | $634,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,476 | $328,180,000 | $222,000 | $8,825,000 | $166,000 | $5,282,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $375,000 | $125,000 | $225,000 | $51,000 | $76,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 1,181 | $272,625,000 | $230,000 | $8,825,000 | $174,000 | $5,282,000 |
| Application Withdrawn By Applicant | 190 | $44,660,000 | $235,000 | $2,385,000 | $161,000 | $912,000 |
| Application Denied By Financial Institution | 95 | $8,885,000 | $93,000 | $505,000 | $90,000 | $418,000 |
| Loan Purchased By The Institution | 6 | $1,190,000 | $198,000 | $265,000 | $0 | $0 |
| Application Approved But Not Accepted | 5 | $585,000 | $117,000 | $185,000 | $132,000 | $222,000 |
| File Closed For Incompleteness | 2 | $610,000 | $305,000 | $405,000 | $256,000 | $325,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 1,048 | $289,850,000 | $276,000 | $8,825,000 | $172,000 | $5,282,000 |
| Debt-To-Income Ratio | 407 | $35,795,000 | $87,000 | $605,000 | $158,000 | $3,421,000 |
| Credit History | 21 | $2,425,000 | $115,000 | $455,000 | $83,000 | $194,000 |
| Other | 2 | $460,000 | $230,000 | $395,000 | $132,000 | $224,000 |
| Collateral | 1 | $25,000 | $25,000 | $25,000 | $65,000 | $65,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Frandsen Bank & Trust's 2023 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Frandsen Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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