Applications / Mortgage Analytics / Lenders / Minnesota / Ultima Bank Minnesota
Winger, MN · State non-member bank · FDIC · $317 million assets · 68 loans in 2025
Ultima Bank Minnesota's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
68
loans originated, 2025
71
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Ultima Bank Minnesota, a small bank once called Farmers State Bank of Winger, grew its lending by a third in 2025 and took a much larger share of Grand Forks, its one metro market.
Loans rose 33%, from 51 to 68, faster than about three in four of the 589 similar lenders, state non-member banks making between half and twice as many loans; they grew 9%. It had made between 49 and 52 loans in each of 2018, 2019, 2023 and 2024. It filed no report for 2020 to 2022, gaps in the record rather than years without lending.
It has lent in Grand Forks since 1994. Its share there rose from 0.2% to 0.9%, and it now ranks 26 of 131 lenders. United Wholesale Mortgage and Gate City Bank lead that market.
Refinancing made up 42.6% of its loans and purchases 41.2%. Home improvement, at 14.7%, was a sizable slice. Every loan was conventional, and the typical one was $145,000, against $175,000 at the typical peer.
Low- and moderate-income borrowers took 36.4% of its loans, against 27.3% at the typical peer, higher than at about three in four similar lenders.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted.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. Ultima Bank Minnesota took 71 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 42.6% · Purchase 41.2% · Home improvement 14.7% · Other 1.5%
Conventional 100.0% · of 68 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 | 27 | 39.7% |
| North Dakota | 1 | 1.5% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Grand Forks | 28 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 25490052LT8QG1RXJ172 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 225157 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 38867 | 1994–2017 |
Established 1 January 1904. Reported under HMDA 1994-2025.
Mergers, name changes, data editions and corrections: Ultima Bank Minnesota's data.
Ultima Bank Minnesota's data
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Ultima Bank Minnesota 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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