Applications / Mortgage Analytics / Lenders / Minnesota / Platinum Bank
Oakdale, MN · State non-member bank · FDIC · $694 million assets · 43 loans in 2025
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43
loans originated, 2025
51
applications, 2025
4
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Platinum Bank, a Minnesota lender, makes far bigger loans than most banks its size, though its loan count nearly halved in 2025.
Its typical loan was $355,000, more than double the $165,000 at similar lenders (state non-member banks making between half and twice as many loans), and larger than nearly nine in ten of them. Home purchases made up 74.4% of its lending, and every loan was conventional.
It made 43 loans in 2025, down 48% from 82, while the typical similar lender grew 2% and the whole market 10%. Almost no similar lender fell as far. With so few loans, a handful of large purchase deals going elsewhere could explain much of it; the record does not say why. It filed no report for 2020 to 2022, years in which a bank of its size need not.
None of its loans went to low- and moderate-income (LMI) borrowers, against 28.2% at peers. Yet 18.6% went to LMI neighborhoods, in line with peers' 18.8%. Large purchase loans tend to go to higher earners, which may explain the first figure.
Its largest market is Minneapolis-St. Paul, where it ranks 130 of 688 lenders with 0.1% of lending; Bell Bank leads. It also lends in New Haven, Cape Coral-Fort Myers and Phoenix, far from home.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted.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. Platinum Bank took 51 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 74.4% · Refinance 20.9% · Home improvement 4.7%
Conventional 100.0% · of 43 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 | 40 | 93.0% |
| Arizona | 1 | 2.3% |
| Connecticut | 1 | 2.3% |
| Florida | 1 | 2.3% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 33 |
| Cape Coral-Fort Myers | 1 |
| Duluth | 1 |
| Mankato | 1 |
| New Haven | 1 |
| Phoenix-Mesa-Chandler | 1 |
| St. Cloud | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900MSHJQMAF6B3Q76 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 3538009 | 2010–2023 |
| Respondent ID (the HMDA filer code before 2018) | 358511 | 2009–2017 |
Established 12 February 2007. Reported under HMDA 2009-2025.
Mergers, name changes, data editions and corrections: Platinum Bank's data.
Platinum Bank's data
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