Applications / Mortgage Analytics / Lenders / Minnesota / Lake Elmo Bank
Lake Elmo, MN · State non-member bank · FDIC · $531 million assets · 136 loans in 2025
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136
loans originated, 2025
145
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Lake Elmo Bank made 25% more loans in 2025 than in 2024, growing faster than most similar lenders and the market as a whole.
The Minnesota bank made 136 loans, up from 109. Similar lenders (state non-member banks making between half and twice as many loans) typically grew 9%, and the whole market 10%; its growth was higher than about seven in ten of them. Its lending rose to $45.9 million from $29.7 million. It is still well short of 2021, when it made 312 loans.
Its typical loan was $265,000, against $175,000 at similar lenders, higher than about four in five. Home purchases made up 62.5% of its loans and refinances 19.1%. Every loan was conventional, with no government insurance or guarantee.
Borrowers with low or moderate incomes (LMI) took 37.1% of its loans, against 28.0% at similar lenders, higher than about four in five. Only 8.1% of its loans were in LMI neighborhoods, against 17.6%. The make-up of the 17 counties where it lends may explain the difference.
Minneapolis-St. Paul-Bloomington is its largest market, and it has lent there since at least 1990. It ranks 105 of 688 lenders, with 0.2% of the market, up 0.1 points. Bell Bank leads with $1.80B.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Lake Elmo Bank took 145 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 62.5% · Refinance 19.1% · Other 11.0% · Home improvement 7.4%
Conventional 100.0% · of 136 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 | 121 | 89.0% |
| Wisconsin | 15 | 11.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 128 |
| Duluth | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300B934MYWT57IX38 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 1015850 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 315443 | 1990–2017 |
Established 1 August 1911. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Lake Elmo Bank's data.
Lake Elmo Bank's data
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Lake Elmo 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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