Applications / Mortgage Analytics / Lenders / Minnesota / The First National Bank of Gilbert
Gilbert, MN · National bank · OCC · $85.2 million assets · 58 loans in 2025
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58
loans originated, 2025
59
applications, 2025
4
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
The First National Bank of Gilbert, a small bank in northern Minnesota, nearly doubled its home loans in 2025 and doubled its share of the Duluth market.
Its loans rose 87%, from 31 to 58. That was faster than more than nine in ten similar lenders (national banks making between half and twice as many loans), whose typical growth was 2%; the whole market grew 10%. A year with 31 loans is a small base, so the rate of growth exaggerates the change. Its record has a gap from 2018 to 2022, years it filed no report.
In Duluth, where it has lent since at least 1990, its share rose from 0.4% to 0.8%, and it ranks 31 of 318. North Shore Bank of Commerce leads with $141.4M.
Purchase loans made up 62.1% of its lending; refinancing and other purposes took 13.8% each. Its typical loan, $195,000, was close to peers' $175,000. It also made loans in Houston and Phoenix for the first time in 2025.
Low- and moderate-income (LMI) borrowers took 28.1% of its loans, against 23.0% at peers. LMI neighborhoods took 17.2%, close to peers' 16.3%.
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, 2023–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted.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. The First National Bank of Gilbert took 59 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 62.1% · Other 13.8% · Refinance 13.8% · Home improvement 10.3%
Conventional 100.0% · of 58 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 | 55 | 94.8% |
| Arizona | 1 | 1.7% |
| Texas | 1 | 1.7% |
| Wisconsin | 1 | 1.7% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Duluth | 47 |
| Minneapolis-St. Paul-Bloomington | 6 |
| Houston-Pasadena-The Woodlands | 1 |
| Phoenix-Mesa-Chandler | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 2549007GLTHLP3ZYS308 | 2023–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 975452 | 2023–2023 |
| Respondent ID (the HMDA filer code before 2018) | 19262 | 1990–1996 |
Established 26 October 1908. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: The First National Bank of Gilbert's data.
The First National Bank of Gilbert's data
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The First National Bank of Gilbert 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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