Security Bank & Trust Company Mortgage Lending & HMDA Data, 2019
In 2019, Security Bank & Trust Company of Glencoe, MN reported 70 mortgage applications totaling $12.6 million, up 63% from 2018. The average application was for $179,714, and applicants reported an average income of $142,628. 86% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (31) and Duluth, MN-WI (1).
| Mortgage Company & Address | Security Bank & Trust Company 735 11th Street, P.O. Box 218 Glencoe, MN 55336 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2019 2018 2017 2016 2015 2014 |
| Total Number of Mortgage Applications | 70 |
| Total Mortgage Loan Application Amount | $12,580,000 |
| Average Mortgage Loan Application Amount | $179,714 |
| Highest Mortgage Loan Application Amount | $4,915,000 |
| Average Applicant Income | $142,628 |
| Highest Applicant Income | $2,216,000 |
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records Security Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Security Bank & Trust Company in 2019
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 | 24 | $3,670,000 | $152,000 | $555,000 | $229,000 | $2,216,000 |
| Refinancing | 24 | $7,700,000 | $320,000 | $4,915,000 | $89,000 | $200,000 |
| Home Improvement | 12 | $690,000 | $57,000 | $345,000 | $126,000 | $367,000 |
| Other Purpose | 10 | $520,000 | $52,000 | $105,000 | $84,000 | $153,000 |
| 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 | 64 | $11,140,000 | $174,000 | $4,915,000 | $142,000 | $2,216,000 |
| Not applicable | 5 | $1,335,000 | $267,000 | $555,000 | $0 | $0 |
| Hispanic | 1 | $105,000 | $105,000 | $105,000 | $0 | $0 |
| 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 |
| Not Provided | 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) | 70 | $12,580,000 | $179,000 | $4,915,000 | $142,000 | $2,216,000 |
| 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 | 60 | $11,700,000 | $195,000 | $4,915,000 | $155,000 | $2,216,000 |
| Application Denied By Financial Institution | 5 | $215,000 | $43,000 | $75,000 | $65,000 | $112,000 |
| Application Approved But Not Accepted | 4 | $450,000 | $112,000 | $115,000 | $81,000 | $145,000 |
| Application Withdrawn By Applicant | 1 | $215,000 | $215,000 | $215,000 | $64,000 | $64,000 |
| 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 | 65 | $12,365,000 | $190,000 | $4,915,000 | $148,000 | $2,216,000 |
| Credit History | 3 | $85,000 | $28,000 | $55,000 | $75,000 | $112,000 |
| Debt-To-Income Ratio | 2 | $130,000 | $65,000 | $75,000 | $50,000 | $51,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Security Bank & Trust Company's 2019 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.
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