Granite Bank Mortgage Lending & HMDA Data, 2024
In 2024, Granite Bank of Cold Spring, MN reported 1,395 mortgage applications totaling $390.5 million. The average application was for $279,924, and applicants reported an average income of $131,317. 76% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (530), Rapid City, SD (146) and Duluth, MN-WI (42) (applications in parentheses).
| Mortgage Company & Address | Granite Bank 202 2nd Avenue South, P.O. Box 416 Cold Spring, MN 56320 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2019 2018 2017 2016 2015 2014 2013 |
| Total Number of Mortgage Applications | 1,395 |
| Total Mortgage Loan Application Amount | $390,495,000 |
| Average Mortgage Loan Application Amount | $279,924 |
| Highest Mortgage Loan Application Amount | $2,505,000 |
| Average Applicant Income | $131,317 |
| Highest Applicant Income | $2,400,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Granite Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Minneapolis-St. Paul-Bloomington, MN-WI | 530 | $ 152,820,000 | $ 288,339 | $ 136,932 |
| Outside any metro area | 336 | $ 79,190,000 | $ 235,684 | $ 116,041 |
| Rapid City, SD | 146 | $ 39,560,000 | $ 270,958 | $ 107,000 |
| Duluth, MN-WI | 42 | $ 6,410,000 | $ 152,619 | $ 110,000 |
| St. Cloud, MN | 32 | $ 6,690,000 | $ 209,062 | $ 191,000 |
| Huntsville, AL | 31 | $ 10,075,000 | $ 325,000 | $ 162,000 |
| La Crosse-Onalaska, WI-MN | 27 | $ 6,415,000 | $ 237,592 | $ 94,111 |
| North Port-Sarasota-Bradenton, FL | 23 | $ 6,945,000 | $ 301,956 | $ 137,000 |
| Punta Gorda, FL | 23 | $ 7,125,000 | $ 309,782 | $ 131,000 |
| Chicago-Naperville, IL | 16 | $ 6,000,000 | $ 375,000 | $ 162,000 |
| Colorado Springs, CO | 15 | $ 6,945,000 | $ 463,000 | $ 134,000 |
| Milwaukee-Waukesha-West Allis, WI | 15 | $ 3,975,000 | $ 265,000 | $ 104,000 |
| Rochester, MN | 14 | $ 2,580,000 | $ 184,285 | $ 64,000 |
| Phoenix-Mesa-Scottsdale, AZ | 9 | $ 3,095,000 | $ 343,888 | $ 167,000 |
| Mankato-North Mankato, MN | 8 | $ 1,920,000 | $ 240,000 | $ 134,000 |
| Daphne-Fairhope-Foley, AL | 6 | $ 1,120,000 | $ 186,666 | $ 142,000 |
| Dallas-Plano-Irving, TX | 5 | $ 1,255,000 | $ 251,000 | $ 116,000 |
| Tampa, FL | 5 | $ 1,635,000 | $ 327,000 | $ 129,000 |
| Cape Coral-Fort Myers, FL | 4 | $ 1,600,000 | $ 400,000 | $ 202,000 |
| Denver-Aurora-Lakewood, CO | 4 | $ 2,220,000 | $ 555,000 | $ 124,000 |
| Fort Worth-Arlington, TX | 4 | $ 1,040,000 | $ 260,000 | $ 71,000 |
| Los Angeles-Long Beach-Glendale, CA | 4 | $ 4,630,000 | $ 1,157,500 | $ 650,000 |
| Omaha-Council Bluffs, NE-IA | 4 | $ 1,620,000 | $ 405,000 | $ 107,000 |
| St. Petersburg-Clearwater-Largo, FL | 4 | $ 1,110,000 | $ 277,500 | $ 107,000 |
| Wildwood-The Villages, FL | 4 | $ 1,300,000 | $ 325,000 | $ 152,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 3 | $ 1,065,000 | $ 355,000 | $ 148,000 |
| Kansas City, MO-KS | 3 | $ 1,195,000 | $ 398,333 | $ 162,666 |
| Lakeland-Winter Haven, FL | 3 | $ 885,000 | $ 295,000 | $ 126,000 |
| Naples-Immokalee-Marco Island, FL | 3 | $ 3,105,000 | $ 1,035,000 | $ 460,000 |
| Orlando-Kissimmee-Sanford, FL | 3 | $ 1,095,000 | $ 365,000 | $ 241,000 |
| Palm Bay-Melbourne-Titusville, FL | 3 | $ 925,000 | $ 308,333 | $ 92,000 |
| St. Louis, MO-IL | 3 | $ 705,000 | $ 235,000 | $ 113,333 |
| Anaheim-Santa Ana-Irvine, CA | 2 | $ 2,080,000 | $ 1,040,000 | $ 348,000 |
| Atlanta-Sandy Springs-Roswell, GA | 2 | $ 400,000 | $ 200,000 | $ 296,000 |
| Clarksville, TN-KY | 2 | $ 440,000 | $ 220,000 | $ 62,000 |
| Columbia, SC | 2 | $ 420,000 | $ 210,000 | $ 101,000 |
| Crestview-Fort Walton Beach-Destin, FL | 2 | $ 430,000 | $ 215,000 | $ 132,000 |
| Eau Claire, WI | 2 | $ 610,000 | $ 305,000 | $ 91,000 |
| Fort Collins, CO | 2 | $ 800,000 | $ 400,000 | $ 152,000 |
| Houston-The Woodlands-Sugar Land, TX | 2 | $ 540,000 | $ 270,000 | $ 178,000 |
| Lake County-Kenosha County, IL-WI | 2 | $ 700,000 | $ 350,000 | $ 253,000 |
| Miami-Miami Beach-Kendall, FL | 2 | $ 590,000 | $ 295,000 | $ 218,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 2 | $ 450,000 | $ 225,000 | $ 81,000 |
| Pensacola-Ferry Pass-Brent, FL | 2 | $ 500,000 | $ 250,000 | $ 80,000 |
| Sioux Falls, SD | 2 | $ 650,000 | $ 325,000 | $ 114,000 |
| Albuquerque, NM | 1 | $ 485,000 | $ 485,000 | $ 286,000 |
| Boise City, ID | 1 | $ 435,000 | $ 435,000 | $ 150,000 |
| Boulder, CO | 1 | $ 2,205,000 | $ 2,205,000 | $ 420,000 |
| Canton-Massillon, OH | 1 | $ 155,000 | $ 155,000 | $ 272,000 |
| Champaign-Urbana, IL | 1 | $ 165,000 | $ 165,000 | $ 60,000 |
| Cincinnati, OH-KY-IN | 1 | $ 355,000 | $ 355,000 | $ 0 |
| Des Moines-West Des Moines, IA | 1 | $ 455,000 | $ 455,000 | $ 147,000 |
| Dothan, AL | 1 | $ 235,000 | $ 235,000 | $ 67,000 |
| El Paso, TX | 1 | $ 205,000 | $ 205,000 | $ 51,000 |
| Elgin, IL | 1 | $ 295,000 | $ 295,000 | $ 398,000 |
| Florence-Muscle Shoals, AL | 1 | $ 395,000 | $ 395,000 | $ 160,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 1 | $ 315,000 | $ 315,000 | $ 76,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 655,000 | $ 655,000 | $ 375,000 |
| Helena, MT | 1 | $ 705,000 | $ 705,000 | $ 103,000 |
| Hilton Head Island-Bluffton-Beaufort, SC | 1 | $ 415,000 | $ 415,000 | $ 180,000 |
| Indianapolis-Carmel-Anderson, IN | 1 | $ 305,000 | $ 305,000 | $ 85,000 |
| Johnson City, TN | 1 | $ 185,000 | $ 185,000 | $ 237,000 |
| Kankakee, IL | 1 | $ 105,000 | $ 105,000 | $ 45,000 |
| Killeen-Temple, TX | 1 | $ 385,000 | $ 385,000 | $ 155,000 |
| Knoxville, TN | 1 | $ 255,000 | $ 255,000 | $ 173,000 |
| Las Vegas-Henderson-Paradise, NV | 1 | $ 665,000 | $ 665,000 | $ 97,000 |
| Ogden-Clearfield, UT | 1 | $ 1,155,000 | $ 1,155,000 | $ 257,000 |
| Oshkosh-Neenah, WI | 1 | $ 435,000 | $ 435,000 | $ 150,000 |
| Port St. Lucie, FL | 1 | $ 335,000 | $ 335,000 | $ 532,000 |
| Portland-Vancouver-Hillsboro, OR-WA | 1 | $ 185,000 | $ 185,000 | $ 180,000 |
| Racine, WI | 1 | $ 165,000 | $ 165,000 | $ 122,000 |
| Richmond, VA | 1 | $ 225,000 | $ 225,000 | $ 116,000 |
| San Antonio-New Braunfels, TX | 1 | $ 525,000 | $ 525,000 | $ 191,000 |
| Sebring, FL | 1 | $ 405,000 | $ 405,000 | $ 86,000 |
| Sherman-Denison, TX | 1 | $ 375,000 | $ 375,000 | $ 164,000 |
| St. George, UT | 1 | $ 485,000 | $ 485,000 | $ 198,000 |
| Stockton-Lodi, CA | 1 | $ 595,000 | $ 595,000 | $ 177,000 |
| Trenton, NJ | 1 | $ 55,000 | $ 55,000 | $ 173,000 |
| Warren-Troy-Farmington Hills, MI | 1 | $ 255,000 | $ 255,000 | $ 75,000 |
| Wausau, WI | 1 | $ 265,000 | $ 265,000 | $ 150,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 1 | $ 535,000 | $ 535,000 | $ 192,000 |
| Wichita Falls, TX | 1 | $ 265,000 | $ 265,000 | $ 0 |
Mortgage Loan Application Detail Totals for Granite Bank in 2024
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 | 1,251 | $348,295,000 | $278,000 | $2,505,000 | $130,000 | $1,619,000 |
| Refinancing | 62 | $16,880,000 | $272,000 | $615,000 | $125,000 | $408,000 |
| Cash-out Refinancing | 56 | $17,230,000 | $307,000 | $995,000 | $120,000 | $314,000 |
| Other Purpose | 16 | $4,040,000 | $252,000 | $645,000 | $292,000 | $2,400,000 |
| Home Improvement | 5 | $445,000 | $89,000 | $165,000 | $152,000 | $293,000 |
| Not Applicable | 5 | $3,605,000 | $721,000 | $1,685,000 | $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 | 962 | $270,250,000 | $280,000 | $2,205,000 | $128,000 | $2,400,000 |
| Not Provided | 200 | $55,350,000 | $276,000 | $1,455,000 | $138,000 | $968,000 |
| Black or African American | 73 | $18,625,000 | $255,000 | $1,225,000 | $112,000 | $743,000 |
| Hispanic | 60 | $12,730,000 | $212,000 | $605,000 | $105,000 | $592,000 |
| Not applicable | 38 | $17,930,000 | $471,000 | $2,505,000 | $0 | $0 |
| Asian | 32 | $7,930,000 | $247,000 | $475,000 | $100,000 | $247,000 |
| American Indian or Alaskan Native | 25 | $5,815,000 | $232,000 | $535,000 | $112,000 | $368,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $1,865,000 | $373,000 | $445,000 | $1,334,000 | $1,432,000 |
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) | 1,069 | $285,865,000 | $267,000 | $2,505,000 | $138,000 | $2,400,000 |
| FHA-insured (Federal Housing Administration) | 207 | $56,175,000 | $271,000 | $595,000 | $92,000 | $234,000 |
| VA-guaranteed (Veterans Administration) | 113 | $46,995,000 | $415,000 | $1,455,000 | $146,000 | $968,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 6 | $1,460,000 | $243,000 | $435,000 | $89,000 | $113,000 |
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 | 1,054 | $293,810,000 | $278,000 | $2,185,000 | $129,000 | $1,619,000 |
| Application Withdrawn By Applicant | 244 | $70,900,000 | $290,000 | $2,205,000 | $154,000 | $2,400,000 |
| Application Denied By Financial Institution | 84 | $19,390,000 | $230,000 | $1,205,000 | $97,000 | $1,048,000 |
| Application Approved But Not Accepted | 11 | $5,715,000 | $519,000 | $2,505,000 | $79,000 | $180,000 |
| Preapproval Denied by Financial Institution | 2 | $680,000 | $340,000 | $455,000 | $47,000 | $84,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 1,309 | $370,425,000 | $282,000 | $2,505,000 | $134,000 | $2,400,000 |
| Debt-To-Income Ratio | 29 | $8,675,000 | $299,000 | $1,205,000 | $65,000 | $227,000 |
| Collateral | 19 | $3,945,000 | $207,000 | $495,000 | $119,000 | $244,000 |
| Credit History | 16 | $3,130,000 | $195,000 | $425,000 | $145,000 | $1,048,000 |
| Unverifiable Information | 8 | $1,370,000 | $171,000 | $355,000 | $63,000 | $102,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $1,675,000 | $335,000 | $525,000 | $105,000 | $204,000 |
| Other | 3 | $405,000 | $135,000 | $225,000 | $76,000 | $88,000 |
| Credit Application Incomplete | 3 | $555,000 | $185,000 | $345,000 | $104,000 | $164,000 |
| Employment History | 3 | $315,000 | $105,000 | $185,000 | $47,000 | $77,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Granite Bank's 2024 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 Granite Bank'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.
For a list of all lenders in Minnesota, download the full spreadsheet
with aggregated HMDA statistics today.
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