Five years of decline
Its loans fell 9%, from 552 to 501, while similar lenders (state member banks making between half and twice as many loans) grew 7% and the whole market 10%. It made 2,295 loans in 2020 and fewer every year since.
Applications / Mortgage Analytics / Lenders / North Carolina / North State Bank
North State Bank
Raleigh, NC · State member bank · FRS · $1.4 billion assets · 501 loans in 2025
North State Bank's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
501
loans originated, 2025
607
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
North State Bank, a Raleigh purchase lender, makes much bigger loans than similar banks, but it has made fewer of them every year since 2020.
Bigger loans, some government-backed
Its typical loan was $345,000, against $195,000 at similar lenders, larger than at about nine in ten of them. Purchases made up 83.4% of its loans. Loans insured by the Federal Housing Administration (FHA) were 7.4% and those guaranteed by the Department of Veterans Affairs (VA) 4.4%; the typical similar lender made neither.
Poorer and majority-minority neighborhoods
Low- and moderate-income (LMI) areas took 25.1% of its loans, against 17.1% at similar lenders, higher than at about nine in ten; majority-minority areas took 23.9%, against 7.1%. Its share to LMI borrowers, 28.3%, was near the middle. Its denial rate on purchase applications, 1.9%, was lower than at about nine in ten similar lenders, whose typical rate was 7.4%.
Slipping in Raleigh and Wilmington
Its share fell from 0.8% to 0.6% in Raleigh-Cary, where it ranks 40 of 638, and from 1.0% to 0.7% in Wilmington, NC, where it ranks 31 of 538 and State Employees' Credit Union leads. Its own lending fell while the market grew, which is one possible reason.
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
501 loans in 2025, against a peak of 2,295 in 2020.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. North State Bank took 607 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
83.4% of its 2025 loans were purchase loans; 87.2% were conventional loans.
Purchase 83.4% · Refinance 15.0% · Home improvement 1.4% · Other 0.2%
Conventional 87.2% · FHA 7.4% · VA 4.4% · USDA (RHS or FSA) 1.0% · of 501 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
3 states, 20 metros, 50 counties
| State | Loans | Share |
|---|---|---|
| North Carolina | 492 | 98.2% |
| South Carolina | 5 | 1.0% |
| Virginia | 4 | 0.8% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Raleigh-Cary | 251 |
| Wilmington | 108 |
| Durham-Chapel Hill | 33 |
| Rocky Mount | 8 |
| Jacksonville | 7 |
| Winston-Salem | 6 |
| Burlington | 3 |
| Charlotte-Concord-Gastonia | 3 |
| Fayetteville | 3 |
| Goldsboro | 3 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300EDXX36BJ0X7583 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 2915461 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 335519 | 2001–2014 |
| Respondent ID (the HMDA filer code before 2018) | 22915461 | 2015–2017 |
Established 1 June 2000. Reported under HMDA 2001-2025.
Mergers, name changes, data editions and corrections: North State Bank's data.
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