Security Bank & Trust Company Mortgage Lending & HMDA Data, 2017
In 2017, Security Bank & Trust Company of Glencoe, MN reported 84 mortgage applications totaling $25.0 million, down 18% from 2016. The average application was for $297,583, and applicants reported an average income of $74,023. 82% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Minneapolis-St. Paul-Bloomington, MN-WI (35), Mankato-North Mankato, MN (2) and Fargo, ND-MN (1) (applications in parentheses).
| 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 | 84 |
| Total Mortgage Loan Application Amount | $24,997,000 |
| Average Mortgage Loan Application Amount | $297,583 |
| Highest Mortgage Loan Application Amount | $6,002,000 |
| Average Applicant Income | $74,023 |
| Highest Applicant Income | $488,000 |
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records Security Bank & Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 2017
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 | 49 | $12,582,000 | $256,000 | $3,550,000 | $73,000 | $488,000 |
| Home Improvement | 22 | $4,585,000 | $208,000 | $3,200,000 | $84,000 | $288,000 |
| Refinancing | 13 | $7,830,000 | $602,000 | $6,002,000 | $61,000 | $187,000 |
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 | 67 | $9,421,000 | $140,000 | $998,000 | $93,000 | $488,000 |
| Not applicable | 17 | $15,576,000 | $916,000 | $6,002,000 | $0 | $0 |
| Not Provided | 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 |
| Hispanic | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 84 | $24,997,000 | $297,000 | $6,002,000 | $74,000 | $488,000 |
| 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 | 69 | $20,127,000 | $291,000 | $6,002,000 | $78,000 | $488,000 |
| Application Denied By Financial Institution | 11 | $1,011,000 | $91,000 | $211,000 | $68,000 | $153,000 |
| Application Withdrawn By Applicant | 2 | $228,000 | $114,000 | $128,000 | $22,000 | $44,000 |
| Application Approved But Not Accepted | 2 | $3,631,000 | $1,815,000 | $3,550,000 | $30,000 | $61,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 5 | $301,000 | $60,000 | $160,000 | $74,000 | $153,000 |
| Debt-To-Income Ratio | 3 | $349,000 | $116,000 | $186,000 | $28,000 | $50,000 |
| Collateral | 3 | $361,000 | $120,000 | $211,000 | $101,000 | $111,000 |
| Credit Application Incomplete | 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 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Security Bank & Trust Company's 2017 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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