Loan Officer Salary at Northern State Bank BETA

How much does a Northern State Bank Loan Officer make?

As of March 2025, the average annual salary for a Loan Officer at Northern State Bank is $46,619, which translates to approximately $22 per hour. Salaries for Loan Officer at Northern State Bank typically range from $40,611 to $53,802, reflecting the diverse roles within the company.

It's essential to understand that salaries can vary significantly based on factors such as geographic location, departmental budget, and individual qualifications. Key determinants include years of experience, specific skill sets, educational background, and relevant certifications. For a more tailored salary estimate, consider these variables when evaluating compensation for this role.

DISCLAIMER: The salary range presented here is an estimation that has been derived from our proprietary algorithm. It should be noted that this range does not originate from the company's factual payroll records or survey data.

Northern State Bank Overview

Website:
nsbashland.com
Size:
25 - 50 Employees
Revenue:
$10M - $50M
Industry:
Financial Services

Northern State Bank has been serving the needs of our communities for over 80 years. The bank's original charter incorporated the Marengo State Bank in 1920. In 1933 the articles of incorporation were amended, changing the name to Northern State Bank, and the main office was moved to Ashland. At that time, the former independent banks at Mellen, Glidden, Butternut and Mason were all incorporated into the Northern State Bank operation. Today, we have our main office in Ashland, Wisconsin, two local grocery store branches and maintain a presence in Mellen, Glidden and Butternut. In 2010 we opened a branch in Aurora, Minnesota. As an independent, community bank, our objective has always been to offer financial products that fit the needs of our customers and promote the growth of our communities. We are committed to operating responsibly with the welfare of our customers coming first. Northern State Bank is locally owned. Decisions are made in our local offices. We understand our customers' goals and respect their concerns because we live here, too. We hire locally, so our employees live, shop and pay taxes in our communities. Our people volunteer for local organizations and events and we donate to many local causes. Northern State Bank offers a full array of banking products to consumers and businesses. We are pleased that we can combine the 'hometown' business philosophy of a small, community bank with the latest technology. We offer the convenience of free Internet and mobile banking, automatic bill payment and paperless electronic statements while providing you with friendly, personal service. Thank you for visiting our website. Please take a few moments to compare our products and services. If you don't already bank with us, we hope you will stop in to talk to a member of our staff. We are confident we will win you over. If you are already a customer, we sincerely appreciate your business and will work hard to maintain the relationship. Northern State Bank is proud to be your Hometown Bank.

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What Skills Does a person Need at Northern State Bank?

At Northern State Bank, specify the abilities and skills that a person needs in order to carry out the specified job duties. Each competency has five to ten behavioral assertions that can be observed, each with a corresponding performance level (from one to five) that is required for a particular job.

  1. Financial services: A services provided by the finance industry, which encompasses a broad range of businesses that manage money. These services involve banking, brokerage, mortgages, credit cards, payment services, real estate, investment funds, taxes and accounting.
  2. Mortgage Loans: A mortgage loan or, simply, mortgage (/ˈmɔːrɡɪdʒ/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is "secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in the form of a collateral for a benefit (loan)".
  3. Underwriting: Underwriting services are provided by some large financial institutions, such as banks, or insurance or investment houses, whereby they guarantee payment in case of damage or financial loss and accept the financial risk for liability arising from such guarantee. An underwriting arrangement may be created in a number of situations including insurance, issue of securities in a public offering, and bank lending, among others. The person or institution that agrees to sell a minimum number of securities of the company for commission is called the underwriter. The name derives from the Lloyd's of London insurance market. Financial bankers, who would accept some of the risk on a given venture (historically a sea voyage with associated risks of shipwreck) in exchange for a premium, would literally write their names under the risk information that was written on a Lloyd's slip created for this purpose.
  4. Loan Origination: Loan origination is the process by which a borrower applies for a new loan, and a lender processes that application. Origination generally includes all the steps from taking a loan application up to disbursal of funds (or declining the application). For mortgages, there is a specific mortgage origination process. Loan servicing covers everything after disbursing the funds until the loan is fully paid off. Loan origination is a specialized version of new account opening for financial services organizations. Certain people and organizations specialize in loan origination. Mortgage brokers and other mortgage originator companies serve as a prominent example. There are many different types of loans. For more information on loan types, see the loan and consumer lending articles. Steps involved in originating a loan vary by loan type, various kinds of loan risk, regulator, lender policy, and other factors.
  5. Pricing: Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods.

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Check more jobs information at Northern State Bank

Job Title Average Northern State Bank Salary Hourly Rate
2 Loan Originator $35,729 $17
3 Assistant Vice President $51,770 $25
4 Branch Manager $60,103 $29
5 Consumer Loan Assistant $52,814 $25
6 Executive Vice President $259,649 $125
7 Head Teller $33,440 $16

Hourly Pay at Northern State Bank

The average hourly pay at Northern State Bank for a Loan Officer is $22 per hour. The location, department, and job description all have an impact on the typical compensation for Northern State Bank positions. The pay range and total remuneration for the job title are shown in the table below. Northern State Bank may pay a varying wage for a given position based on experience, talents, and education.
How accurate does $46,619 look to you?

FAQ about Salary and Jobs at Northern State Bank

1. How much does Northern State Bank pay per hour?
The average hourly pay is $22. The salary for each employee depends on several factors, including the level of experience, work performance, certifications and skills.
2. What is the highest salary at Northern State Bank?
According to the data, the highest approximate salary is about $53,802 per year. Salaries are usually determined by comparing other employees’ salaries in similar positions in the same region and industry.
3. What is the lowest pay at Northern State Bank?
According to the data, the lowest estimated salary is about $40,611 per year. Pay levels are mainly influenced by market forces, supply and demand, and social structures.
4. What steps can an employee take to increase their salary?
There are various ways to increase the wage. Level of education: An employee may receive a higher salary and get a promotion if they obtain advanced degrees. Experience in management: an employee with supervisory experience can increase the likelihood to earn more.