Applications / Mortgage Analytics / Lenders / Minnesota / Think Mutual Bank
Rochester, MN · Savings institution · OCC · $2.2 billion assets · 824 loans in 2025
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824
loans originated, 2025
1,115
applications, 2025
10
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Think Mutual Bank is the second-largest lender in Rochester, MN, mixing many small home-improvement loans with a share of jumbo loans (larger than the conforming limit) higher than about nine in ten similar lenders.
Its typical loan, $105,000, down from $145,000, was among the lowest twentieth of similar lenders (savings institutions making between half and twice as many loans), whose typical loan was $235,000. Home improvement (28.0%) and other purposes (16.4%) may explain the small loans. Yet jumbo loans were 8.2% of its lending, against 2.5% at peers.
It ranked 2 of 276 in Rochester, MN, where it has reported since before 1990, behind United Wholesale Mortgage. Its share fell 0.9 points to 8.5%. Shares are measured in dollars, so the fall in its typical loan size is one possible reason; competitors' growth is another.
Originations rose 5%, from 787 to 824, the same as similar lenders and below the whole market's 10%. Its typical rate, 6.69%, and higher-priced share (a rate well above the average for similar loans), 0.1%, are close to peers'.
It turned down 3.4% of first-lien home-purchase applications on owner-occupied homes, against 5.4% at peers. Loans in LMI (low- and moderate-income) areas were 10.1%, against 15.0% at peers, lower than more than eight in ten, while its share to LMI borrowers, 28.3%, was higher than 24.5%. The area figure could reflect how many LMI tracts lie in the counties it serves.
Questions the data can answer next
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Think Mutual Bank took 1,115 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 37.5% · Home improvement 28.0% · Refinance 18.1% · Other 16.4%
Conventional 100.0% · of 824 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Minnesota | 743 | 90.2% |
| Wisconsin | 29 | 3.5% |
| Illinois | 19 | 2.3% |
| Missouri | 10 | 1.2% |
| Florida | 6 | 0.7% |
| Kansas | 5 | 0.6% |
| Arizona | 4 | 0.5% |
| Nebraska | 3 | 0.4% |
| South Dakota | 3 | 0.4% |
| Iowa | 2 | 0.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Rochester | 462 |
| Minneapolis-St. Paul-Bloomington | 216 |
| Chicago-Naperville-Schaumburg | 15 |
| St. Louis | 8 |
| Kansas City | 5 |
| La Crosse-Onalaska | 5 |
| Milwaukee-Waukesha | 4 |
| Eau Claire | 3 |
| Mankato | 3 |
| Omaha | 3 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900B9B6TYYGLOXT47 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 936583 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 522494 | 1990–2006 |
| Respondent ID (the HMDA filer code before 2018) | 418037 | 2007–2010 |
| Respondent ID (the HMDA filer code before 2018) | 1718037 | 2011–2017 |
Established 1 July 2007. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Think Mutual Bank's data.
Think Mutual Bank's data
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Think Mutual Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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