# Park State Bank

> **Canonical URL:** https://saferate.com/lenders/park-state-bank


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Park State Bank is a bank, headquartered in Duluth, MN, serving borrowers across 3 states, with 151 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 47% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 59% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300YVBUEC0SGSZW55
- **Headquarters:** Duluth, MN
- **Geographic Reach:** Regional
- **States Served:** 3
- **State List:** AZ, MN, WI
- **Markets (MSAs):** 3
- **Primary Channel:** mix
- **Direct Origination:** 76.5%
- **Brokered/Wholesale:** 23.5%

## Safe Rate Ratings

### Pricing: Sound ☺️
- Score: 53/100
- Rating: ●●●○○ (3/5)

### Pull Through: Sound ☺️
- Score: 41/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** -0.037%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $2,502
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 151
- **Dollar Volume:** $43 million
- **Applications Received:** 251
- **Market Share:** 0.00%

## Typical Borrower Profile

- **Average Loan Amount:** $284,073
- **Average Borrower Income:** $142,411
- **Average Property Value:** $402,616

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 49/100 | 121 | -0.051% | $2,589 | Sound ☺️ |
| FHA | 50/100 | 12 | +0.134% | $1,971 | Sound ☺️ |

### Product Performance by Purpose

**Conventional:**
- Purchase: 104 loans, Score: 49/100 (Sound)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 52/100 | 132 | $37M | -0.051% | Sound ☺️ |
| Refinance | 30/100 | 19 | $6M | +0.048% | Acceptable 🙂 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| MN | 142 | 0.22% | 73/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Duluth, MN | MN-WI | 63 | 73/100 |
| Non |  | 57 | 51/100 |
| Minneapolis | MN-WI | 14 | 47/100 |

## Where This Lender Ranks

Park State Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🏆 **#4** in Duluth, MN for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#6** in Duluth, MN Banks
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks)
- 🏆 **#8** in Minnesota for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks/usda-loans)
- 🏆 **#8** in Duluth, MN for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#11** in Duluth, MN
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders)
- 🏆 **#14** in Duluth, MN for FHA Loans
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/fha-loans)
- 🏆 **#16** in Minnesota for USDA Loans
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/usda-loans)
- 🏆 **#18** in Minnesota for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks/fha-loans)

## Frequently Asked Questions

### What loan types does Park State Bank offer?

Park State Bank offers the following mortgage loan types: FHA, Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Park State Bank offer mortgages?

Park State Bank offers mortgages in 3 states: AZ, MN, WI.

### How competitive are Park State Bank's mortgage rates?

Park State Bank has a pricing score of 53/100 (Sound), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.037% below market average.

### What type of lender is Park State Bank?

Park State Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Duluth, MN.

### What is Park State Bank's loan approval success rate?

Park State Bank has a pull-through score of 41/100 (Sound). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/park-state-bank

### How to Cite

> "Park State Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/park-state-bank

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