Black Hills Community Bank Mortgage Rates, Fees & Info

Rapid City, SD

LEI: 2549001R6R928Y08SC30

Tax ID: 26-1341163

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Mortgage Data

Bank Data

Review & Overview

Black Hills Community Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Black Hills Community Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Rapid City, Spearfish, Phoenix, Kansas City, and Sioux Falls among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

Black Hills Community Bank 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.

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Originations

287

Origination Dollar Volume (All Markets)

$77,655,000

Employee count

60

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
RAPID CITY, SD (FHA|USDA|VA) 160 $45,000,000 $281,250 $0 0.00%
Spearfish, SD (FHA|USDA|VA) 55 $15,075,000 $274,091 $0 0.00%
Outside of Metro Areas 41 $8,465,000 $206,463 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $2,470,000 $411,667 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $775,000 $258,333 $0 0.00%
SIOUX FALLS, SD (FHA|USDA|VA) 3 $705,000 $235,000 $0 0.00%
Gillette, WY (FHA|USDA|VA) 2 $600,000 $300,000 $0 0.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
Dickinson, ND (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
BISMARCK, ND (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
FLORENCE, SC (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
BILLINGS, MT (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
Yankton, SD (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Pierre, SD (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Ada, OK (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Scottsbluff, NE (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Riverton, WY (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Mitchell, SD (FHA|USDA|VA) 2 $190,000 $95,000 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Black Hills Community Bank's top markets include Rapid City, Spearfish, Phoenix, Kansas City, and Sioux Falls among others.

Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • North Dakota (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 224 $58,870,000 $262,813 $0 0.00%
    VA 32 $12,250,000 $382,813 $0 0.00%
    FHA 23 $5,305,000 $230,652 $0 0.00%
    USDA 8 $1,230,000 $153,750 $0 0.00%

    For 2021, Black Hills Community Bank's most frequently originated type of loan was Conventional, with 224 originations. Their 2nd most popular type was VA, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 148 $40,400,000 $272,973 $0 0.00%
    Cash Out Refi 65 $18,125,000 $278,846 $0 0.00%
    Refi 60 $16,810,000 $280,167 $0 0.00%
    Other 10 $1,890,000 $189,000 $0 0.00%
    Home Improvement 4 $430,000 $107,500 $0 0.00%

    For 2021, Black Hills Community Bank's most frequently cited loan purpose was Home Purchase, with 148 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 287 $77,655,000 $270,575 $0 0.00%

    For 2021, Black Hills Community Bank's most frequently cited loan duration was Other, with 287 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 124 $34,220,000 $275,968 $0 0.00%
    $100k-200k 97 $15,155,000 $156,237 $0 0.00%
    $400k-600k 33 $15,705,000 $475,909 $0 0.00%
    $100,000 or less 24 $1,730,000 $72,083 $0 0.00%
    $600k-1MM 8 $5,970,000 $746,250 $0 0.00%
    $1MM+ 1 $4,875,000 $4,875,000 $0 0.00%

    2021 saw Black Hills Community Bank place emphasis on $200k-400k loans with 124 originations, totaling $34,220,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 65 $19,195,000 $295,308 $0 0.00%
    $50k-75k 52 $11,020,000 $211,923 $0 0.00%
    $75k-100k 44 $10,470,000 $237,955 $0 0.00%
    $50k or less 40 $6,800,000 $170,000 $0 0.00%
    $250k+ 29 $8,605,000 $296,724 $0 0.00%
    $150k-250k 25 $9,155,000 $366,200 $0 0.00%

    Black Hills Community Bank lent most frequently to those with incomes in the $100k-150k range, with 65 originations. The second most popular income band? $50k-75k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 287 $77,655,000 $270,575 $0 0.00%

    Black Hills Community Bank lent most frequently to those with DTI ratios of Exempt%, with 287 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 239 $62,105,000 $259,854 $0 0.00%
    Not applicable 25 $10,595,000 $423,800 $0 0.00%
    Not provided 16 $2,820,000 $176,250 $0 0.00%
    Asian 5 $1,495,000 $299,000 $0 0.00%
    American Indian 2 $640,000 $320,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.64%

    Black Hills Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.78%

    Black Hills Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 287 $77,655,000 $270,575

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    287 $77,655,000 $270,575

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Black Hills Community Bank, N.A. 215 East Jackson Boulevard Spearfish, SD 57783 Full Service B&M $60,316
    Black Hills Community Bank, N.A. 840 Mount Rushmore Road Rapid City, SD 57701 Full Service B&M $309,159

    For 2021, Black Hills Community Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,490
    Net interest income $14,975
    Total noninterest income $2,713
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $168
    Trading account gains and fees $0
    Additional Noninterest Income $2,545
    Pre-tax net operating income $7,465
    Securities gains (or losses, -) $0
    Income before extraordinary items $7,465
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,465
    Minority interest net income $0
    Net income $7,465
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,465

    Black Hills Community Bank's gross interest income from loans was $16,490,000.
    Black Hills Community Bank's net interest income from loans was $14,975,000.
    Black Hills Community Bank's fee based income from loans was $168,000.
    Black Hills Community Bank's net income from loans was $7,465,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,515
    Provision for credit losses $24
    Total noninterest expense $10,199
    Salaries and employee benefits $6,320
    Premises and equipment expense $914
    Additional noninterest expense $2,965
    Applicable income taxes $0
    Net charge-offs $0
    Cash dividends $0

    Black Hills Community Bank's interest expense for loans was $1,515,000.
    Black Hills Community Bank's payroll and benefits expense were $6,320,000.
    Black Hills Community Bank's property, plant and equipment expenses $914,000.

    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 3.0%
    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 $388,936
    Deposits held in domestic offices $388,936
    Deposits by Individuals, partnerships, and corporations $308,093
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $34,124
    Deposits by Commercial banks and other depository institutions in U.S. $46,718
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $153,032
    Demand deposits $104,162
    Nontransaction accounts $235,903
    Money market deposit accounts (MMDAs) $125,646
    Other savings deposits (excluding MMDAs) $19,674
    Total time deposits $90,583
    Total time and savings deposits $284,773
    Noninterest-bearing deposits $104,162
    Interest-bearing deposits $284,774
    Retail deposits $371,972
    IRAs and Keogh plan accounts $6,828
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $437,389
    Cash & Balances due from depository institutions $41,818
    Interest-bearing balances $35,567
    Total securities $72,822
    Federal funds sold & reverse repurchase $746
    Net loans and leases $307,304
    Loan and leases loss allowance $5,141
    Trading account assets $0
    Bank premises and fixed assets $7,235
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $7,464

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $437,389
    Total Liabilities $390,829
    Total deposits $388,936
    Interest-bearing deposits $284,774
    Deposits held in domestic offices $388,936
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,893

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $307,304
    Loan and leases loss allowance $5,141
    Total loans and leases (domestic) $312,445
    All real estate loans $271,757
    Real estate loans in domestic offices $271,757
    Construction and development loans $52,313
    Residential 1-4 family construction $18,538
    Other construction, all land development and other land $33,775
    Loans secured by nonfarm nonresidential properties $147,402
    Nonfarm nonresidential secured by owner-occupied properties $71,422
    Commercial real estate & other non-farm, non-residential $75,980
    Multifamily residential real estate $24,684
    1-4 family residential loans $35,541
    Farmland loans $11,817
    Loans held in foreign offices $0
    Farm loans $2,468
    Commercial and industrial loans $36,954
    To non-U.S. addressees $0
    Loans to individuals $1,069
    Credit card loans $0
    Related Plans $22
    Consumer Auto Loans $193
    Other loans to individuals $854
    All other loans & leases $1,041
    Loans to foreign governments and official institutions $0
    Other loans $450
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Black Hills Community Bank had $307,304,000 of loans outstanding in 2021. $271,757,000 of loans were in real estate loans. $52,313,000 of loans were in development loans. $24,684,000 of loans were in multifamily mortgage loans. $35,541,000 of loans were in 1-4 family mortgage loans. $2,468,000 of loans were in farm loans. $0 of loans were in credit card loans. $193,000 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 153 $48,025 $313,889
    Nonfarm, nonresidential loans - <$100k 18 $907 $50,389
    Nonfarm, nonresidential loans - $100-250k 46 $7,077 $153,848
    Nonfarm, nonresidential loans - $250k-1MM 89 $40,041 $449,899
    Commercial & Industrial, US addressed loans - <$1MM 210 $22,202 $105,724
    Commercial & Industrial, US addressed loans - <$100k 107 $2,647 $24,738
    Commercial & Industrial, US addressed loans - $100-250k 44 $4,305 $97,841
    Commercial & Industrial, US addressed loans - $250k-1MM 59 $15,250 $258,475
    Farmland loans - <$1MM 8 $1,403 $175,375
    Farmland loans - <$100k 1 $94 $94,000
    Farmland loans - $100-250k 3 $280 $93,333
    Farmland loans - $250k-1MM 4 $1,029 $257,250
    Agriculture operations loans - <$1MM 12 $1,365 $113,750
    Agriculture operations loans - <$100k 5 $161 $32,200
    Agriculture operations loans - $100-250k 5 $646 $129,200
    Agriculture operations loans - $250k-1MM 2 $558 $279,000