Applications / Mortgage Analytics / Lenders / Minnesota / Cornerstone State Bank
Montgomery, MN · State non-member bank · FDIC · $242 million assets · 63 loans in 2025
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63
loans originated, 2025
73
applications, 2025
4
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Cornerstone State Bank is a small Minnesota home-purchase lender whose loans have fallen in four of the past five years, to 63 in 2025.
It made 63 loans, against 82 in 2024 and 222 in 2020. Similar lenders (banks of the same type making between half and twice as many loans) grew 9%, and its change was lower than at about nine in ten of them. The 2020 and 2021 peaks may have come partly from refinancing, now only 12.7% of its loans.
Home purchases made up 60.3% of its loans. Its typical loan, $205,000, was larger than peers' $165,000, which kept its $18.1 million total close to theirs. None of its loans was higher-priced (a rate well above the average for similar loans), against 6.1% at peers, and its typical rate of 6.38% was lower than at nearly all of them.
Low- and moderate-income (LMI) borrowers took 39.7% of its loans, against 26.9% at peers, higher than at more than eight in ten. Only 7.9% were in LMI neighborhoods, against 18.8%. The mix of neighborhoods in the Minnesota markets it serves may explain that.
In Mankato it ranks 47 of 180, and its share fell from 0.4% to 0.2%. In Duluth it fell from 0.2% to 0.1%. Both may follow from its lower volume rather than from a change in either market.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Cornerstone State Bank took 73 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 60.3% · Other 14.3% · Home improvement 12.7% · Refinance 12.7%
Conventional 100.0% · of 63 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 | 60 | 95.2% |
| Florida | 1 | 1.6% |
| Tennessee | 1 | 1.6% |
| Wisconsin | 1 | 1.6% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 29 |
| Duluth | 9 |
| Mankato | 7 |
| Nashville-Davidson--Murfreesboro--Franklin | 1 |
| North Port-Bradenton-Sarasota | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493001DKNDZW3UIWI38 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 914853 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 2914853 | 2003–2003 |
| Respondent ID (the HMDA filer code before 2018) | 321525 | 2004–2017 |
Established 8 April 1974. Reported under HMDA 2003-2025.
Mergers, name changes, data editions and corrections: Cornerstone State Bank's data.
Cornerstone State Bank's data
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Cornerstone State 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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