Applications / Mortgage Analytics / Lenders / Minnesota / Drake Bank
Saint Paul, MN · State non-member bank · FDIC · $255 million assets · 45 loans in 2025
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45
loans originated, 2025
51
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Drake Bank is a small purchase lender whose borrowers mostly have low or moderate incomes.
Low- and moderate-income (LMI) borrowers took 58.1% of its loans, against 27.7% at similar lenders (state non-member banks making between half and twice as many loans), more than at almost all of them. In 2020 the share was 14.3%. Poorer neighborhoods (LMI tracts) took 44.4%, against 18.6%, and majority-minority areas 26.7%, against 5.5%. On 45 loans, a few loans move these shares.
Purchases made up 84.4% of its loans. Its typical loan, $265,000, was higher than at about four in five peers, whose typical loan was $165,000. All were conventional.
Its loans fell 15%, from 53 to 45, while peers' rose 3%. The amount it lent still rose, from $15.5 million to $16.6 million. It filed no report for 2021 and 2022, a gap in the record rather than years without lending.
In Minneapolis-St. Paul-Bloomington, where it has lent since 2005, it ranked 202 of 688 lenders. Its share fell from 0.1% to 0.0%, which fewer loans may account for. Bell Bank led there. It has also lent in Tampa-St. Petersburg-Clearwater since 2019.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. 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. Drake Bank took 51 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 84.4% · Refinance 11.1% · Home improvement 2.2% · Other 2.2%
Conventional 100.0% · of 45 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 | 44 | 97.8% |
| Florida | 1 | 2.2% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 40 |
| Rochester | 1 |
| St. Petersburg-Clearwater-Largo | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 5493007GTTV61V305H74 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3090833 | 2005–2023 |
| Respondent ID (the HMDA filer code before 2018) | 357336 | 2005–2017 |
Established 1 May 2002. Reported under HMDA 2005-2025.
Mergers, name changes, data editions and corrections: Drake Bank's data.
Drake Bank's data
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Drake 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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