Applications / Mortgage Analytics / Lenders / Minnesota / First State Bank and Trust
Bayport, MN · State non-member bank · FDIC · $473 million assets · 118 loans in 2025
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118
loans originated, 2025
182
applications, 2025
7
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First State Bank and Trust makes bigger loans than most similar banks, yet lends to low- and moderate-income (LMI) borrowers more than nine in ten of them.
Its typical loan was $285,000, against $175,000 at similar lenders (state non-member banks making between half and twice as many loans), higher than more than eight in ten of them. LMI borrowers took 46.1% of its loans, against 27.9%. LMI neighborhoods took only 11.1%, against 18.0%, which could reflect the incomes of the areas it serves.
It made 118 loans in 2025, up 12%, against 9% at peers and 10% for the whole market. That is still well below the 199 it made five years before. Purchases were 68.6% of its loans and refinances 20.3%.
In Minneapolis-St. Paul-Bloomington it ranked 126 of 688 lenders, with a 0.1% share that did not change. It has lent there since at least 1990. Its lending reaches 7 states and 24 counties, mostly in Minnesota.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. First State Bank and Trust took 182 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 68.6% · Refinance 20.3% · Other 6.8% · Home improvement 4.2%
Conventional 100.0% · of 118 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 | 73 | 61.9% |
| Wisconsin | 39 | 33.1% |
| Arizona | 2 | 1.7% |
| Florida | 1 | 0.8% |
| Michigan | 1 | 0.8% |
| Montana | 1 | 0.8% |
| Oklahoma | 1 | 0.8% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 102 |
| Kenosha | 2 |
| Bozeman | 1 |
| Duluth | 1 |
| Phoenix-Mesa-Chandler | 1 |
| Rochester | 1 |
| Tampa | 1 |
| Tucson | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300AO417FCNJGKM49 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 144856 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 310159 | 1990–2017 |
Established 1 January 1914. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: First State Bank and Trust's data.
First State Bank and Trust's data
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First State Bank and Trust 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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