The Bank of Elk River in Minnesota vs the state
4.4%Denial rate-9.25 pts vs state
4.4%Decision denial rate-11.93 pts vs state
80.9%Origination rate+14.50 pts vs state
—Median rate
—Rate spread (pts)
$126kMedian applicant income
93Loans originated
5Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 84 | 73 | 6.0% | — | #204 |
| 2024 | 58 | 47 | 6.9% | — | #245 |
| 2025 | 115 | 93 | 4.4% | — | #186 |
What The Bank of Elk River lends in Minnesota
By loan purpose
By loan type
Where in Minnesota
Counties with the most The Bank of Elk River applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Sherburne County | 47 | 32 | 3 | 6.4% |
| Hennepin County | 15 | 15 | 0 | 0.0% |
| Wright County | 13 | 12 | 0 | 0.0% |
| Anoka County | 8 | 7 | 1 | 12.5% |
| Ramsey County | 5 | 5 | 0 | 0.0% |
| Mille Lacs County | 4 | 4 | 0 | 0.0% |
| Isanti County | 3 | 2 | 1 | 33.3% |
| Stearns County | 2 | 2 | 0 | 0.0% |
| Washington County | 2 | 2 | 0 | 0.0% |
| Dakota County | 2 | 1 | 0 | 0.0% |
Other large lenders in Minnesota
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| United Shore Financial Services | B | 8,694 | 10.6% | 6.38% |
| U.S. Bank | D | 8,624 | 30.4% | 7.88% |
| Bell Bank | A | 7,987 | 5.3% | 6.63% |
| Rocket Mortgage | C | 7,630 | 16.3% | 6.63% |
| Trustone Financial Credit Union | C | 6,066 | 20.0% | 7.25% |
| Affinity Plus | C | 5,438 | 14.6% | 6.63% |
| Blaze Credit Union | B | 4,074 | 12.3% | 6.38% |
| Wings Financial Credit Union | A | 3,960 | 16.4% | 7.25% |
| Crosscountry Mortgage | B | 3,942 | 2.1% | 6.63% |
| Fairway Independent Mortgage | B | 3,327 | 3.2% | 6.75% |
Frequently asked questions
Minnesota: 115 applications in 2025, of which 93 were originated and 5 denied.
4.4% of all applications, or 4.4% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
This lender did not report interest rates on its originated loans (some institutions are exempt from HMDA pricing fields).
About this data. Figures are The Bank of Elk River's own HMDA filing for properties located in Minnesota, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology