Applications / Mortgage Analytics / Lenders / Minnesota / Sherburne Bank
Becker, MN · State non-member bank · FDIC · $337 million assets · 216 loans in 2025
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216
loans originated, 2025
249
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Sherburne Bank, a Minnesota bank that has reported since 1990, lends more to lower-income borrowers than most similar banks while making bigger loans than they do.
Its typical loan was $255,000 in 2025, against $175,000 at similar lenders, here state non-member banks making between half and twice as many loans. Yet 36.9% of its borrowers had low or moderate incomes (LMI), against 28.0% at the typical peer, a higher share than at about four in five of them. Purchases made up 59.3% of its loans, and every loan was conventional.
It made 216 loans, down 2% from 220, while similar banks grew 9% and the whole market 10%. Its record has swung widely: 95 loans in 2018, 416 in 2020 and 164 in 2022, rising each year from then to 2024.
Only 0.9% of its decided home-purchase applications were denied, against 5.5% at the typical peer, lower than at all but a few similar banks. A rate that low rests on very few denials.
It has lent in St. Cloud since 1990 and ranked 40 of 243 lenders there, with a 0.6% share that held steady. In Minneapolis-St. Paul-Bloomington, its largest market by dollars, it ranked 102 of 688, far behind Bell Bank and United Wholesale Mortgage.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Sherburne Bank took 249 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 59.3% · Refinance 16.2% · Home improvement 12.5% · Other 12.0%
Conventional 100.0% · of 216 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 | 214 | 99.1% |
| Florida | 1 | 0.5% |
| Iowa | 1 | 0.5% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 167 |
| St. Cloud | 21 |
| Duluth | 3 |
| Pensacola-Ferry Pass-Brent | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300GWO8DN75PL7X16 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 198251 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 310169 | 1990–2017 |
Established 7 September 1920. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Sherburne Bank's data.
Sherburne Bank's data
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Sherburne 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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