Security Bank & Trust Company Mortgage Lending & HMDA Data, 2023
In 2023, Security Bank & Trust Company of Glencoe, MN reported 56 mortgage applications totaling $9.6 million. The average application was for $172,142, and applicants reported an average income of $134,053. 89% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (19) and St. Cloud, MN (2).
| Mortgage Company & Address | Security Bank & Trust Company 735 11th St E Glencoe, MN 55336 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 |
| Total Number of Mortgage Applications | 56 |
| Total Mortgage Loan Application Amount | $9,640,000 |
| Average Mortgage Loan Application Amount | $172,142 |
| Highest Mortgage Loan Application Amount | $515,000 |
| Average Applicant Income | $134,053 |
| Highest Applicant Income | $647,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Security Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Outside any metro area | 35 | $ 6,135,000 | $ 175,285 | $ 113,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 19 | $ 3,165,000 | $ 166,578 | $ 163,000 |
| St. Cloud, MN | 2 | $ 340,000 | $ 170,000 | $ 261,000 |
Mortgage Loan Application Detail Totals for Security Bank & Trust Company 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 | 30 | $6,100,000 | $203,000 | $515,000 | $123,000 | $362,000 |
| Refinancing | 15 | $1,905,000 | $127,000 | $375,000 | $175,000 | $647,000 |
| Other Purpose | 9 | $1,235,000 | $137,000 | $405,000 | $110,000 | $229,000 |
| Home Improvement | 2 | $400,000 | $200,000 | $355,000 | $101,000 | $109,000 |
| Cash-out Refinancing | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 42 | $7,140,000 | $170,000 | $515,000 | $138,000 | $647,000 |
| Not applicable | 11 | $2,005,000 | $182,000 | $465,000 | $0 | $0 |
| Hispanic | 2 | $130,000 | $65,000 | $105,000 | $79,000 | $84,000 |
| Not Provided | 1 | $365,000 | $365,000 | $365,000 | $137,000 | $137,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 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) | 56 | $9,640,000 | $172,000 | $515,000 | $135,000 | $647,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
| VA-guaranteed (Veterans 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 | 50 | $8,250,000 | $165,000 | $515,000 | $138,000 | $647,000 |
| Application Withdrawn By Applicant | 4 | $1,170,000 | $292,000 | $365,000 | $134,000 | $193,000 |
| Application Denied By Financial Institution | 2 | $220,000 | $110,000 | $195,000 | $89,000 | $94,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 54 | $9,420,000 | $174,000 | $515,000 | $138,000 | $647,000 |
| Debt-To-Income Ratio | 2 | $220,000 | $110,000 | $195,000 | $89,000 | $94,000 |
| 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Security Bank & Trust Company'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 Security Bank & Trust Company'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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