Applications / Mortgage Analytics / Lenders / Minnesota / New Market Bank
Elko New Market, MN · State non-member bank · FDIC · $191 million assets · 138 loans in 2025
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138
loans originated, 2025
158
applications, 2025
7
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
New Market Bank is a Minnesota home-purchase lender whose loans are bigger than most similar banks' and go to poorer borrowers more often than at about nine in ten of them.
Home purchases were 80.4% of its 138 loans. 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 at more than four in five of them. None was jumbo (larger than the conforming limit).
Low- and moderate-income (LMI) borrowers took 42.6% of its loans, up from 37.4%, against 28.0% at peers. LMI areas took 9.4%, against 17.6%, lower than at about four in five similar lenders. One possibility is that few of the areas it serves are LMI areas.
Its loans rose 2%, while similar lenders grew 9% and the whole market 10%. In Minneapolis-St. Paul-Bloomington, where it has lent since 1991, its share held at 0.1%, ranking it 116 of 688; Bell Bank leads.
It turned down 2.9% of first-lien home-purchase applications on owner-occupied homes, against 7.5% at similar lenders, lower than at about four in five of them.
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, 2019–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. New Market Bank took 158 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 80.4% · Refinance 15.9% · Other 3.6%
Conventional 100.0% · of 138 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 | 125 | 90.6% |
| Wisconsin | 6 | 4.3% |
| Iowa | 3 | 2.2% |
| Florida | 1 | 0.7% |
| Kansas | 1 | 0.7% |
| Missouri | 1 | 0.7% |
| South Carolina | 1 | 0.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 103 |
| Rochester | 3 |
| Duluth | 2 |
| Kansas City | 2 |
| Mankato | 2 |
| Ames | 1 |
| Charleston-North Charleston | 1 |
| Punta Gorda | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 2549002N9QET42VCAS33 | 2019–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 165758 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 31931 | 1990–2016 |
Established 10 June 1905. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: New Market Bank's data.
New Market Bank's data
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