# LUMINATE BANK
MINNEAPOLIS, MN · FDIC certificate 16635 · asset band $300M-1B · latest filing 2026-06 · live

**Verdict on the desk:** this could be *run candidate*. Composite score 8 (one point per flag, capital below 5% counted twice; 7 or more is where departures cluster).

## What the filing shows (filed dollars, derived ratios; band percentiles in parentheses)

| Measure | Value | Band median |
|---|---|---|
| Total assets | $554.5M | |
| Deposits | $412.7M | |
| Loans and leases | $453.6M | |
| Total equity | $54.6M | |
| Loans / deposits | 108.83% (p96 of band) | 82.04% |
| Liquid assets / assets | 10.32% (p5 of band) | |
| Uninsured deposits / deposits | 63.26% (p99 of band) | 25.97% |
| Brokered deposits | 0.53% | |
| Wholesale funding | 11.35% (p81 of band) | |
| FHLB advances / assets | 10.82% | |
| Tier 1 leverage | 10.40% (p43 of band) | 10.81% |
| Unrealized securities loss / equity | 0.00% (p98 of band) | -8.10% |
| AOCI / equity | -0.01% (p73 of band) | |
| ROA (annualized) | 3.07% (p98 of band) | 1.28% |
| Net interest margin | 3.64% (p35 of band) | 3.91% |
| Efficiency ratio | 90.03% (p95 of band) | |
| Noncurrent loans | 2.33% (p91 of band) | 0.43% |
| Net charge-offs (annualized) | 0.42% (p96 of band) | |
| Reserve coverage of noncurrent | 41.40% | |
| Real estate % of loans | 91% | |
| Construction % of loans | 114.83% (p91 of band) | |
| Auto loans | $0 (0.00% of loans; DQ –, NCO 0.00%) | |
| Loans to nondepository financials | $0 (0% of equity) (p45 of band) | |
| Deposits YoY | 20.0% | |
| Employees | 745 | |

## Flags firing in the latest filing

- **loans exceed deposits** (`liq_ltd`)
- **uninsured deposits >50%** (`liq_uninsured`)
- **run vulnerability** (`liq_runrisk`)
- **expense ratio p90** (`earn_efficiency`)
- **noncurrent p90** (`aq_noncurrent`)
- **charge-offs p90** (`aq_nco`)
- **reserve under noncurrent** (`aq_reserve`)
- **construction >100% equity** (`conc_construction`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2011-03 | 2 | loans exceed deposits, liquid assets <10% |  |
| 2011-06 | 4 | losing money, expense ratio p90 |  |
| 2011-09 | 4 | capital falling | loans exceed deposits |
| 2011-12 | 1 |  | losing money, expense ratio p90, capital falling |
| 2012-03 | 3 | loans exceed deposits, reserve under noncurrent |  |
| 2012-06 | 2 |  | loans exceed deposits |
| 2012-09 | 5 | loans exceed deposits, deposits shrinking, assets shrinking |  |
| 2012-12 | 4 |  | loans exceed deposits |
| 2013-03 | 4 |  |  |
| 2013-06 | 8 | capital falling, losing money, expense ratio p90, uninsured deposits leaving |  |
| 2013-09 | 2 |  | deposits shrinking, assets shrinking, capital falling, losing money, expense ratio p90, uninsured deposits leaving |
| 2013-12 | 4 | loans exceed deposits, construction >100% equity, deposits shrinking | reserve under noncurrent |
| 2014-03 | 1 |  | loans exceed deposits, construction >100% equity, deposits shrinking |
| 2014-06 | 2 | reserve under noncurrent |  |
| 2014-09 | 3 | expense ratio p90, uninsured deposits leaving | liquid assets <10% |
| 2014-12 | 1 |  | reserve under noncurrent, expense ratio p90 |
| 2015-03 | 3 | losing money, expense ratio p90 |  |
| 2015-06 | 4 | capital falling |  |
| 2015-09 | 4 | reserve under noncurrent | uninsured deposits leaving |
| 2015-12 | 3 |  | capital falling |
| 2016-03 | 6 | loans exceed deposits, liquid assets <10%, uninsured deposits leaving |  |
| 2016-06 | 2 |  | losing money, loans exceed deposits, liquid assets <10%, uninsured deposits leaving |
| 2016-09 | 6 | loans exceed deposits, capital falling, losing money, uninsured deposits leaving |  |
| 2016-12 | 5 |  | uninsured deposits leaving |
| 2017-03 | 5 | liquid assets <10% | losing money |
| 2017-06 | 7 | losing money, deposits shrinking, assets shrinking | capital falling |
| 2017-09 | 5 |  | deposits shrinking, assets shrinking |
| 2017-12 | 6 | capital falling, noncurrent p90 | liquid assets <10% |
| 2018-03 | 9 | liquid assets <10%, deposits shrinking, assets shrinking |  |
| 2018-06 | 7 |  | capital falling, liquid assets <10% |
| 2018-09 | 8 | liquid assets <10% |  |
| 2018-12 | 7 |  | liquid assets <10% |
| 2019-03 | 7 | wholesale funding >15%, liquid assets <10% | deposits shrinking, assets shrinking |
| 2019-06 | 7 |  |  |
| 2019-09 | 6 | capital falling, charge-offs p90 | noncurrent p90, wholesale funding >15%, liquid assets <10% |
| 2019-12 | 5 |  | reserve under noncurrent |
| 2020-03 | 4 | uninsured deposits leaving | losing money, capital falling |
| 2020-06 | 2 |  | loans exceed deposits, uninsured deposits leaving |
| 2020-09 | 3 | loans exceed deposits, liquid assets <10% | expense ratio p90 |
| 2020-12 | 1 | brokered >10% | charge-offs p90, loans exceed deposits, liquid assets <10% |
| 2021-03 | 3 | uninsured deposits >50%, capital falling |  |
| 2021-06 | 1 |  | brokered >10%, capital falling |
| 2021-09 | 1 |  |  |
| 2021-12 | 4 | brokered >10%, capital falling, noncurrent p90, reserve under noncurrent | uninsured deposits >50% |
| 2022-03 | 1 |  | capital falling, noncurrent p90, reserve under noncurrent |
| 2022-06 | 5 | loans exceed deposits, uninsured deposits >50%, wholesale funding >15%, liquid assets <10%, run vulnerability | brokered >10% |
| 2022-09 | 6 | brokered >10%, charge-offs p90 | liquid assets <10% |
| 2022-12 | 6 | liquid assets <10%, expense ratio p90 | uninsured deposits >50%, run vulnerability |
| 2023-03 | 7 | capital falling |  |
| 2023-06 | 8 | reserve under noncurrent, uninsured deposits leaving | expense ratio p90 |
| 2023-09 | 6 |  | liquid assets <10%, capital falling |
| 2023-12 | 7 | noncurrent p90, construction >100% equity | uninsured deposits leaving |
| 2024-03 | 7 |  |  |
| 2024-06 | 6 |  | construction >100% equity |
| 2024-09 | 6 | capital falling | brokered >10% |
| 2024-12 | 9 | uninsured deposits >50%, run vulnerability, expense ratio p90, construction >100% equity | wholesale funding >15% |
| 2025-03 | 8 | wholesale funding >15%, liquid assets <10% | uninsured deposits >50%, run vulnerability, construction >100% equity |
| 2025-06 | 7 | uninsured deposits >50%, run vulnerability | loans exceed deposits, wholesale funding >15%, liquid assets <10% |
| 2025-09 | 7 |  |  |
| 2025-12 | 5 |  | capital falling, run vulnerability |
| 2026-03 | 5 | run vulnerability | noncurrent p90 |
| 2026-06 | 8 | loans exceed deposits, noncurrent p90, construction >100% equity |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-08-20 [Luminate Bank Welcomes the First State Mortgage Team - PR Newswire](https://news.google.com/rss/articles/CBMirAFBVV95cUxNNXlCcENXaHZLUFVjS2Yyei1fZ0w1bVo3VGhPVlBoS0M0XzctSlRLNUFqdWR1c2tXNEptZ0ZmQU9pdG9jdlZzcDhxakNJRGs0M205YTJaZTVOTmdOcldWbktYMEpUUHcycUR3elR3MGtEazdDWWhPVGVpTlRoVW5CM21SM29YTGJHNTlmX0FkYVNzTEc2VHpZOUNHcGpCZ05wbGJzZWxEeDJwUXFU?oc=5) · PR Newswire
- 2026-08-20 [Luminate Bank expands footprint with First State Mortgage deal - HousingWire](https://news.google.com/rss/articles/CBMic0FVX3lxTE4tSzVCZTlaRjVBc20zZjFsTGtnZEhORjNINTJ2eF9sR0RMZ1BSUVBCMTBWX3I2c1B5aTNDTl8zNXhIcEd0OXB2WC1nMXVVSlFFcVhJZVBVOEVVOUZYWDN5WVA2VXJQUVNuWVB3U00yZWppNVU?oc=5) · HousingWire
- 2026-07-07 [Luminate Bank® Named New Jersey's #1 Large Company Top Workplace - Morningstar](https://news.google.com/rss/articles/CBMivwFBVV95cUxQVktIWmJCZnZIb0FubW9DVlFWLVc1UjlCMnAyNTdyT244STEydEMtbHg1VjFpbjRfVlJCSWVqOWFCNkpkU2Jma2c0RS01VERqRFRESW12akFtN1V5bEEzRzFyNFZBOXRaaVBhbkR4MUdiWHlveHRzUEU5emcxMU5zaDdWd08yV1lKdFB0VGFGWGp2enIwVXZTS0dGX05aalg5TXlma29DVUxKRXFKMncwdDZ4eE5fbmNNUS01d3RfUQ?oc=5) · Morningstar
- 2026-02-26 [Luminate Bank® Leaders Taryn Reuter and Eric Lovins Named 2025 Mortgage Leaders of the Year - PR Newswire](https://news.google.com/rss/articles/CBMi3wFBVV95cUxNOUYwR2xseTRDdlM4Q0VrQ2txOGVtdjBRUTZLZEhFNnJZaVJsQVdvc253NWd3MnduZFdkcXlDZ1RIcklyZDN1RTU2eU1OY0M5MFdkdE5PWEM1M054TWgxRldNRjlRWGdqTE1LNWdOWDR3NDNVN2dLclNXOHB1LTctUFhiT0lfbUhPN1hESndpTFRlMjhzdWFHdVlOWEFjaS1uMzI2LVYwT3N0cTVfYUhwM2t1NmxsY1YwN3FqWHRSS1NaUnJoeWYxSWZpUVhiUloyT01tdVRiMXNYaXlBbDVj?oc=5) · PR Newswire
- 2025-04-14 [Luminate Bank adds NJ Lenders team - National Mortgage News](https://news.google.com/rss/articles/CBMihwFBVV95cUxQZnVLa3RzWFRoSVJLM0h4RW1lNFhVdkxZNFltYy1qT3Zqc1kybkVTd2taaldCOXBZbWF0Nms1YUpWVU16RFE1Q2E1V0ROUFZHZ0hReUR6bl9QT29nbWcwc0w4ZExGamZpdXIzb0pxNkhGX0RyWUpnZUdTUk1Na3pRNVpxTjdicUE?oc=5) · National Mortgage News
- 2024-11-13 [2024 CFO of the Year: David Turk, Luminate Bank - The Business Journals](https://news.google.com/rss/articles/CBMiogFBVV95cUxOc3JDSlVHZmpRNkJUU29qbk1mZ1ZmUE9GUXIzWXJXNDYzVUd3MUU4ZlcxZDg4Zm5XanBuRktmNk5IaUN5dldYVXpfRkhHTkVHQk9sdDVicU56akx5U2lJNXlVWDFRSEJYLW0xcVZfZ0Z0VUdyakVESnZuczcxLUFWa205ejlmQ3JBRU55VjQ2X1Ryei12Tzh3VDZNV2hQdnloWkE?oc=5) · The Business Journals
- 2025-04-14 [Employees at lender challenged by mortgage fraud case jump to Luminate - HousingWire](https://news.google.com/rss/articles/CBMisAFBVV95cUxOUmhTYlU2Q0RUeHpHNnY4WlJESW9kTFRBLWNKV1RTZ2RJNGY0Zmp3eG4ySlZjR1RQWW5OS2NTRERUcE5vTHNnQmNxMXdheGhKbVZoSTFEeUE0eEtwbXRXX0pxVEg2ZzB6TXJJdW9CbGVPamV4b3VKNVFxdUVYalczTkZlS2J1WEgza2FtMEhDdXRTLUJYOHBfWk9yWWltS0Q4RXZNb2drYm5FY0F4dFp6Tw?oc=5) · HousingWire
- 2025-07-15 [Luminate Bank Powers $90K Investment into Housing in Action to Advance Housing Equity - PR Newswire](https://news.google.com/rss/articles/CBMi1wFBVV95cUxONUVMTXE3dWF5RENWa2tuRS1qdTY2VDN3N2ZSNGpsY0dlVV94NFU0c25lLXU0UWxLREs3RTR1cEU1ajdIQ2hQWkFGcHk2YVNWbGlRNVVDLVB3N2NLdURXWXZHREl1aEdHZW8zazI3dThyclE5RThhZ0RkNFpFZC1pWjhaWkx1TEpFOTVWZUVxZTVCN3BiUkVIZU9fcmtIaHA4VFMxQnFoWWQxbkFGTmJJX3oxWTRLaWxIS0hveDhQcUZUanA5SEE1RmVQNVdyckk5dm5JY21Xbw?oc=5) · PR Newswire

## How to verify

- Page: https://getbookiq.com/bank-desk/#bank=16635 (click any number for its formula and FFIEC field codes)
- Latest row, JSON: https://getbookiq.com/bank-desk/data/summary.json · history: https://getbookiq.com/bank-desk/data/h/59.json (key "16635", columns cycle, ASSET, DEP, LNLSGR, EQTOT, ltd, liquid_pct, unins_pct, lev, aoci_pct_eq, sec_loss_eq, roa, nim, eff, nc_pct, nco_pct, LNAUTO, auto_dq, auto_nco, LNNDEPD, ndfi_eq, wholesale_pct, dep_yoy, score, flags)
- Field definitions: https://getbookiq.com/dictionary/#bank-LNNDEPD and the rest of the bank dictionary
- Source: FDIC call report via BankFind, dollars in thousands as filed. Departed means stopped filing, which is usually a merger; FAILED is the FDIC's own list.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide