Visionbank Of Iowa Mortgage Rates, Fees & Info

Ames, IA

LEI: 254900040LMONERSH242

Tax ID: 42-0183300

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Mortgage Data

Bank Data

Review & Overview

Visionbank Of Iowa is a smaller bank specializing in Refi loans. Visionbank Of Iowa has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Des Moines, Mason City, Pella, and Omaha among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Visionbank Of Iowa has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.49% 3/27/24
30 Year Conventional Refi 6.59% 3/27/24
30 Year Cash-out Refi 6.38% 3/27/24
15 Year Conventional Purchase 5.83% 3/27/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Visionbank Of Iowa Mortgage Calculator






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The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

551

Origination Dollar Volume (All Markets)

$142,405,000

Employee count

104

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
AMES, IA (FHA|USDA|VA) 359 $78,095,000 $217,535 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 164 $52,210,000 $318,354 $0 0.00%
Outside of Metro Areas 17 $9,205,000 $541,471 $0 0.00%
Mason City, IA (FHA|USDA|VA) 2 $770,000 $385,000 $0 0.00%
Pella, IA (FHA|USDA|VA) 3 $675,000 $225,000 $0 0.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
Marshalltown, IA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
IOWA CITY, IA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Spirit Lake, IA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Carroll, IA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Visionbank Of Iowa's top markets include Ames, Des Moines, Mason City, Pella, and Omaha among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 551 $142,405,000 $258,448 $0 0.00%

    For 2020, Visionbank Of Iowa's most frequently originated type of loan was Conventional, with 551 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 341 $91,595,000 $268,607 $0 0.00%
    Cash Out Refi 119 $25,295,000 $212,563 $0 0.00%
    Home Purchase 78 $24,000,000 $307,692 $0 0.00%
    Other 10 $1,420,000 $142,000 $0 0.00%
    Home Improvement 3 $95,000 $31,667 $0 0.00%

    For 2020, Visionbank Of Iowa's most frequently cited loan purpose was Refi, with 341 originations. The 2nd most popular reason was Cash Out Refi, with 119 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 551 $142,405,000 $258,448 $0 0.00%

    For 2020, Visionbank Of Iowa's most frequently cited loan duration was Other, with 551 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 210 $58,650,000 $279,286 $0 0.00%
    $100k-200k 205 $31,465,000 $153,488 $0 0.00%
    $100,000 or less 76 $5,150,000 $67,763 $0 0.00%
    $400k-600k 45 $21,195,000 $471,000 $0 0.00%
    $1MM+ 9 $21,645,000 $2,405,000 $0 0.00%
    $600k-1MM 6 $4,300,000 $716,667 $0 0.00%

    2020 saw Visionbank Of Iowa place emphasis on $200k-400k loans with 210 originations, totaling $58,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 143 $32,485,000 $227,168 $0 0.00%
    $75k-100k 105 $19,105,000 $181,952 $0 0.00%
    $50k-75k 93 $15,435,000 $165,968 $0 0.00%
    $150k-250k 83 $25,775,000 $310,542 $0 0.00%
    $250k+ 32 $11,820,000 $369,375 $0 0.00%
    $50k or less 24 $2,680,000 $111,667 $0 0.00%

    Visionbank Of Iowa lent most frequently to those with incomes in the $100k-150k range, with 143 originations. The second most popular income band? $75k-100k, with 105 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 551 $142,405,000 $258,448 $0 0.00%

    Visionbank Of Iowa lent most frequently to those with DTI ratios of Exempt%, with 551 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 455 $105,805,000 $232,538 $0 0.00%
    Not applicable 42 $23,610,000 $562,143 $0 0.00%
    Not provided 29 $7,055,000 $243,276 $0 0.00%
    Asian 21 $5,185,000 $246,905 $0 0.00%
    Black 3 $565,000 $188,333 $0 0.00%
    Asian Indian 1 $185,000 $185,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.80%

    Visionbank Of Iowa has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    84.57%

    Visionbank Of Iowa has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 551 $142,405,000 $258,448

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 16 $24,330,000 $1,520,625
    Single Family (1-4 Units):Site-Built 535 $118,075,000 $220,701

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Visionbank of Iowa 100 Centennial Drive Huxley, IA 50124 Full Service B&M $25,779
    Visionbank of Iowa 104 Chestnut St Ames, IA 50010 Full Service B&M $129,115
    Visionbank of Iowa 107 Main Street Ames, IA 50010 Full Service B&M $9,676
    Visionbank of Iowa 1704 South Marshall Street Boone, IA 50036 Full Service B&M $123,027
    Visionbank of Iowa 217 W. Mulberry Ogden, IA 50212 Full Service B&M $63,034
    Visionbank of Iowa 4510 Mortensen Road Suite 101 Ames, IA 50014 Full Service B&M $31,182
    Visionbank of Iowa 504 Story St Boone, IA 50036 Limited, Drive-thru $11,642
    Visionbank of Iowa 925 Se Gateway Drive Grimes, IA 50111 Full Service B&M $55,208

    For 2020, Visionbank Of Iowa had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,071
    Net interest income $15,772
    Total noninterest income $4,967
    Gross Fiduciary activities income $16
    Service charges on deposit accounts $370
    Trading account gains and fees $0
    Additional Noninterest Income $4,581
    Pre-tax net operating income $6,202
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,905
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,905
    Minority interest net income $0
    Net income $5,905
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,905

    Visionbank Of Iowa's gross interest income from loans was $21,071,000.
    Visionbank Of Iowa's net interest income from loans was $15,772,000.
    Visionbank Of Iowa's fee based income from loans was $370,000.
    Visionbank Of Iowa's net income from loans was $5,905,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,299
    Provision for credit losses $1,375
    Total noninterest expense $13,162
    Salaries and employee benefits $8,306
    Premises and equipment expense $1,331
    Additional noninterest expense $3,525
    Applicable income taxes $297
    Net charge-offs $693
    Cash dividends $2,952

    Visionbank Of Iowa's interest expense for loans was $5,299,000.
    Visionbank Of Iowa's payroll and benefits expense were $8,306,000.
    Visionbank Of Iowa's property, plant and equipment expenses $1,331,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $453,645
    Deposits held in domestic offices $453,645
    Deposits by Individuals, partnerships, and corporations $391,829
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $61,816
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $211,698
    Demand deposits $119,921
    Nontransaction accounts $241,947
    Money market deposit accounts (MMDAs) $123,339
    Other savings deposits (excluding MMDAs) $36,650
    Total time deposits $81,958
    Total time and savings deposits $333,724
    Noninterest-bearing deposits $95,514
    Interest-bearing deposits $358,131
    Retail deposits $417,545
    IRAs and Keogh plan accounts $5,204
    Brokered deposits $30,557
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $574,837
    Cash & Balances due from depository institutions $68,945
    Interest-bearing balances $62,248
    Total securities $17,328
    Federal funds sold & reverse repurchase $0
    Net loans and leases $467,424
    Loan and leases loss allowance $5,607
    Trading account assets $0
    Bank premises and fixed assets $12,091
    Other real estate owned $837
    Goodwill and other intangibles $863
    All other assets $7,349

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $574,837
    Total Liabilities $516,782
    Total deposits $453,645
    Interest-bearing deposits $358,131
    Deposits held in domestic offices $453,645
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $61,000
    Subordinated debt $0
    All other liabilities $2,137

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $467,424
    Loan and leases loss allowance $5,607
    Total loans and leases (domestic) $473,031
    All real estate loans $418,586
    Real estate loans in domestic offices $418,586
    Construction and development loans $64,950
    Residential 1-4 family construction $12,704
    Other construction, all land development and other land $52,246
    Loans secured by nonfarm nonresidential properties $221,220
    Nonfarm nonresidential secured by owner-occupied properties $82,746
    Commercial real estate & other non-farm, non-residential $138,474
    Multifamily residential real estate $28,380
    1-4 family residential loans $62,819
    Farmland loans $41,217
    Loans held in foreign offices $0
    Farm loans $15,281
    Commercial and industrial loans $35,547
    To non-U.S. addressees $0
    Loans to individuals $997
    Credit card loans $224
    Related Plans $7
    Consumer Auto Loans $41
    Other loans to individuals $725
    All other loans & leases $3,144
    Loans to foreign governments and official institutions $0
    Other loans $554
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $343
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $68
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    VisionBank of Iowa had $467,424,000 of loans outstanding in 2020. $418,586,000 of loans were in real estate loans. $64,950,000 of loans were in development loans. $28,380,000 of loans were in multifamily mortgage loans. $62,819,000 of loans were in 1-4 family mortgage loans. $15,281,000 of loans were in farm loans. $224,000 of loans were in credit card loans. $41,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 110 $31,799 $289,082
    Nonfarm, nonresidential loans - <$100k 19 $788 $41,474
    Nonfarm, nonresidential loans - $100-250k 26 $3,247 $124,885
    Nonfarm, nonresidential loans - $250k-1MM 65 $27,764 $427,138
    Commercial & Industrial, US addressed loans - <$1MM 305 $21,875 $71,721
    Commercial & Industrial, US addressed loans - <$100k 219 $4,823 $22,023
    Commercial & Industrial, US addressed loans - $100-250k 45 $4,981 $110,689
    Commercial & Industrial, US addressed loans - $250k-1MM 41 $12,071 $294,415
    Farmland loans - <$1MM 78 $13,240 $169,744
    Farmland loans - <$100k 17 $824 $48,471
    Farmland loans - $100-250k 34 $4,385 $128,971
    Farmland loans - $250k-1MM 27 $8,031 $297,444
    Agriculture operations loans - <$1MM 89 $5,226 $58,719
    Agriculture operations loans - <$100k 46 $886 $19,261
    Agriculture operations loans - $100-250k 27 $1,722 $63,778
    Agriculture operations loans - $250k-1MM 16 $2,618 $163,625