United Bank Of Iowa Mortgage Rates, Fees & Info
Ida Grove, IALEI: 2549002OCMCJIOOONI88
Tax ID: 42-0326042
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Bank Data
Review & Overview
United Bank Of Iowa is a smaller bank specializing in Home Purchase and Refi loans. United Bank Of Iowa has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Carroll, Storm Lake, Spirit Lake, Sioux City, and Des Moines among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)United Bank Of Iowa has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. United Bank Of Iowa is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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 | 6.83% | 11/17/24 |
30 Year Conventional Refi | 6.67% | 11/17/24 |
30 Year Cash-out Refi | 6.82% | 11/17/24 |
30 Year USDA Purchase | 7.16% | 11/17/24 |
30 Year USDA Refi | 6.89% | 11/17/24 |
15 Year Conventional Purchase | 6.29% | 11/17/24 |
15 Year Conventional Refi | 6.31% | 11/17/24 |
15 Year Cash-out Refi | 6.31% | 11/17/24 |
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. |
United Bank 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
584Origination Dollar Volume (All Markets)
$72,790,000Employee count
292 Show all (4) awardsUnited Bank of Iowa - 2021
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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 |
---|---|---|---|---|---|
Outside of Metro Areas | 345 | $36,195,000 | $104,913 | $2,598 | 3.51% |
Carroll, IA (FHA|USDA|VA) | 56 | $8,130,000 | $145,179 | $3,034 | 3.30% |
Storm Lake, IA (FHA|USDA|VA) | 57 | $7,085,000 | $124,298 | $3,178 | 3.62% |
Spirit Lake, IA (FHA|USDA|VA) | 6 | $4,550,000 | $758,333 | $4,566 | 2.81% |
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 35 | $4,525,000 | $129,286 | $3,091 | 3.45% |
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 19 | $3,925,000 | $206,579 | $4,429 | 3.45% |
AMES, IA (FHA|USDA|VA) | 19 | $2,785,000 | $146,579 | $2,473 | 3.43% |
Fort Dodge, IA (FHA|USDA|VA) | 23 | $2,565,000 | $111,522 | $2,070 | 3.46% |
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 14 | $1,220,000 | $87,143 | $2,835 | 3.50% |
Spencer, IA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $3,127 | 4.00% |
Mason City, IA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $2,592 | 3.50% |
Yankton, SD (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $3,184 | 3.25% |
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,766 | 3.25% |
IOWA CITY, IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 3.00% |
CEDAR RAPIDS, IA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,675 | 3.25% |
Norfolk, NE (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $2,532 | 3.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against United Bank of Iowa based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 549 | $69,185,000 | $126,020 | $2,652 | 3.48% |
USDA | 35 | $3,605,000 | $103,000 | $3,751 | 3.57% |
For 2021, United Bank Of Iowa's most frequently originated type of loan was Conventional, with 549 originations. Their 2nd most popular type was USDA, with 35 originations.
Loan Reason
For 2021, United Bank Of Iowa's most frequently cited loan purpose was Home Purchase, with 315 originations. The 2nd most popular reason was Refi, with 164 originations.
Loan Duration/Length
For 2021, United Bank Of Iowa's most frequently cited loan duration was 30 Year, with 269 originations. The 2nd most popular length was 15 Year, with 143 originations.
Origination Fees/Closing Costs
United Bank Of Iowa's average total fees were $2,968, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 214 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 438 | $50,550,000 | $115,411 |
2.5-3% | 94 | $15,300,000 | $162,766 |
4-5% | 44 | $5,130,000 | $116,591 |
<2.5% | 4 | $1,720,000 | $430,000 |
5-6% | 4 | $90,000 | $22,500 |
During 2021, United Bank Of Iowa's average interest rate for loans was 3.53%, while their most frequently originated rate bucket for loans was 3-4%, with 438 originations.
Loan Sizing
2021 saw United Bank Of Iowa place emphasis on $100,000 or less loans with 306 originations, totaling $18,790,000 in origination value.
Applicant Income
United Bank Of Iowa lent most frequently to those with incomes in the $50k or less range, with 160 originations. The second most popular income band? $50k-75k, with 117 originations.
Applicant Debt to Income Ratio
United Bank Of Iowa lent most frequently to those with DTI ratios of 20-30%, with 135 originations. The next most common DTI ratio? 30-36%, with 108 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.65%
United Bank Of Iowa has a below average approval rate.
Pick Rate
Approvals leading to origination82.02%
United Bank Of Iowa has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 584 | $72,790,000 | $124,640 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
UNITED COMMUNITY BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |
UNITED COMMUNITY BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 20.0% |
UNITED COMMUNITY BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
UNITED COMMUNITY BANK | Other type of mortgage | Trouble during payment process | 1 | 20.0% |
Bank Details
Branches
Bank Name | Branch | Branch Type | Deposits (000's) |
---|---|---|---|
United Bank of Iowa | 102 Main Street Galva, IA 51020 | Full Service B&M | $31,658 |
United Bank of Iowa | 109 West 3rd Avenue Arthur, IA 51431 | Full Service B&M | $25,299 |
United Bank of Iowa | 116 North Kiel Street Holstein, IA 51025 | Full Service B&M | $83,466 |
United Bank of Iowa | 12 Main Street Charter Oak, IA 51439 | Full Service B&M | $40,645 |
United Bank of Iowa | 120 South First Street Moville, IA 51039 | Full Service B&M | $31,932 |
United Bank of Iowa | 124 Oak Street Moorhead, IA 51558 | Full Service B&M | $23,418 |
United Bank of Iowa | 1270 Lake Avenue Storm Lake, IA 50588 | Full Service B&M | $78,345 |
United Bank of Iowa | 1334 Broadway Street Denison, IA 51442 | Full Service B&M | $84,322 |
United Bank of Iowa | 148 Main Street Aurelia, IA 51005 | Full Service B&M | $41,443 |
United Bank of Iowa | 15 East Main Street Anthon, IA 51004 | Full Service B&M | $13,460 |
United Bank of Iowa | 1608 First Avenue South Fort Dodge, IA 50501 | Full Service B&M | $59,883 |
United Bank of Iowa | 101 East First Street Kingsley, IA 51028 | Full Service B&M | $45,599 |
United Bank of Iowa | 101 North Lewis Avenue Cleghorn, IA 51014 | Full Service B&M | $14,248 |
United Bank of Iowa | 10 N. Grove Street Kiron, IA 51448 | Limited, Drive-thru | $4,722 |
United Bank of Iowa | 100 W Pine Street Marcus, IA 51035 | Full Service B&M | $8,568 |
United Bank of Iowa | 1609 Hawkeye Drive Boone, IA 50036 | Full Service B&M | $26,934 |
United Bank of Iowa | 1802 23rd Street Harlan, IA 51537 | Full Service B&M | $56,028 |
United Bank of Iowa | 200 Main Street Lytton, IA 50561 | Full Service B&M | $10,630 |
United Bank of Iowa | 200-202 Main Street Cushing, IA 51018 | Full Service B&M | $8,066 |
United Bank of Iowa | 201 North Center Street Lake City, IA 51449 | Full Service B&M | $65,175 |
United Bank of Iowa | 202 Main Street Alta, IA 51002 | Full Service B&M | $21,797 |
United Bank of Iowa | 210 Front Avenue Pocahontas, IA 50574 | Full Service B&M | $34,395 |
United Bank of Iowa | 219 Main Street Ida Grove, IA 51445 | Limited, Drive-thru | $0 |
United Bank of Iowa | 21945 State Highway 175 Onawa, IA 51040 | Full Service B&M | $51,127 |
United Bank of Iowa | 301 S. Main Street Odebolt, IA 51458 | Full Service B&M | $41,758 |
United Bank of Iowa | 316 Garfield Rolfe, IA 50581 | Full Service B&M | $28,141 |
United Bank of Iowa | 320 Front Street Pierson, IA 51048 | Full Service B&M | $22,513 |
United Bank of Iowa | 33 2nd Street Schleswig, IA 51461 | Full Service B&M | $42,967 |
United Bank of Iowa | 400 Morningside Drive Sac City, IA 50583 | Full Service B&M | $40,072 |
United Bank of Iowa | 408 Hwy 30 Dunlap, IA 51529 | Full Service B&M | $40,837 |
United Bank of Iowa | 417 - 4th Street Rockwell City, IA 50579 | Full Service B&M | $76,962 |
United Bank of Iowa | 425 East 9th Street Glidden, IA 51443 | Full Service B&M | $61,051 |
United Bank of Iowa | 501 2nd Street Ida Grove, IA 51445 | Full Service B&M | $281,121 |
United Bank of Iowa | 600 2nd Street Lohrville, IA 51453 | Full Service B&M | $15,287 |
United Bank of Iowa | 600 Head Street Churdan, IA 50050 | Full Service B&M | $32,751 |
United Bank of Iowa | 609 North Clark Street Carroll, IA 51401 | Full Service B&M | $90,626 |
For 2021, United Bank Of Iowa had 36 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $68,426 |
Net interest income | $61,139 |
Total noninterest income | $10,204 |
Gross Fiduciary activities income | $195 |
Service charges on deposit accounts | $3,760 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $6,249 |
Pre-tax net operating income | $34,038 |
Securities gains (or losses, -) | $702 |
Income before extraordinary items | $33,054 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $33,054 |
Minority interest net income | $0 |
Net income | $33,054 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $32,387 |
United Bank Of Iowa's gross interest income from loans was $68,426,000.
United Bank Of Iowa's net interest income from loans was $61,139,000.
United Bank Of Iowa's fee based income from loans was $3,760,000.
United Bank Of Iowa's net income from loans was $33,054,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $7,287 |
Provision for credit losses | $700 |
Total noninterest expense | $36,605 |
Salaries and employee benefits | $24,869 |
Premises and equipment expense | $3,920 |
Additional noninterest expense | $7,816 |
Applicable income taxes | $1,686 |
Net charge-offs | $-58 |
Cash dividends | $17,418 |
United Bank Of Iowa's interest expense for loans was $7,287,000.
United Bank Of Iowa's payroll and benefits expense were $24,869,000.
United Bank Of Iowa's property, plant and equipment expenses $3,920,000.
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 | 1.0% |
HELOC loans | 0.0% |
All other family | 1.0% |
Commercial & industrial loans | 1.0% |
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 | $1,692,628 |
Deposits held in domestic offices | $1,692,628 |
Deposits by Individuals, partnerships, and corporations | $1,449,358 |
Deposits by U.S. Government | $80 |
Deposits by States and political subdivisions in the U.S. | $210,870 |
Deposits by Commercial banks and other depository institutions in U.S. | $32,320 |
Deposits by Banks in foreign countries | $0 |
Deposits by Foreign governments and official institutions | $0 |
Transaction accounts | $123,643 |
Demand deposits | $75,515 |
Nontransaction accounts | $1,568,985 |
Money market deposit accounts (MMDAs) | $199,406 |
Other savings deposits (excluding MMDAs) | $778,632 |
Total time deposits | $590,948 |
Total time and savings deposits | $1,617,113 |
Noninterest-bearing deposits | $353,100 |
Interest-bearing deposits | $1,339,528 |
Retail deposits | $1,506,401 |
IRAs and Keogh plan accounts | $62,087 |
Brokered deposits | $18,732 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $2,102,938 |
Cash & Balances due from depository institutions | $37,055 |
Interest-bearing balances | $17,657 |
Total securities | $562,968 |
Federal funds sold & reverse repurchase | $0 |
Net loans and leases | $1,394,224 |
Loan and leases loss allowance | $20,287 |
Trading account assets | $0 |
Bank premises and fixed assets | $31,256 |
Other real estate owned | $0 |
Goodwill and other intangibles | $16,807 |
All other assets | $60,628 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $2,102,938 |
Total Liabilities | $1,887,683 |
Total deposits | $1,692,628 |
Interest-bearing deposits | $1,339,528 |
Deposits held in domestic offices | $1,692,628 |
% insured (estimated) | $86 |
Federal funds purchased and repurchase agreements | $20,609 |
Trading liabilities | $0 |
Other borrowed funds | $166,514 |
Subordinated debt | $0 |
All other liabilities | $7,932 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $1,394,224 |
Loan and leases loss allowance | $20,287 |
Total loans and leases (domestic) | $1,414,511 |
All real estate loans | $887,382 |
Real estate loans in domestic offices | $887,382 |
Construction and development loans | $24,331 |
Residential 1-4 family construction | $9,514 |
Other construction, all land development and other land | $14,817 |
Loans secured by nonfarm nonresidential properties | $37,936 |
Nonfarm nonresidential secured by owner-occupied properties | $20,648 |
Commercial real estate & other non-farm, non-residential | $17,288 |
Multifamily residential real estate | $7,597 |
1-4 family residential loans | $150,102 |
Farmland loans | $667,416 |
Loans held in foreign offices | $0 |
Farm loans | $391,628 |
Commercial and industrial loans | $66,521 |
To non-U.S. addressees | $0 |
Loans to individuals | $59,002 |
Credit card loans | $0 |
Related Plans | $0 |
Consumer Auto Loans | $43,845 |
Other loans to individuals | $15,157 |
All other loans & leases | $9,978 |
Loans to foreign governments and official institutions | $0 |
Other loans | $3,164 |
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 | $452 |
Non 1-4 family restructured loans & leases | $436 |
Total loans and leases (foreign) | $0 |
United Bank of Iowa had $1,394,224,000 of loans outstanding in 2021. $887,382,000 of loans were in real estate loans. $24,331,000 of loans were in development loans. $7,597,000 of loans were in multifamily mortgage loans. $150,102,000 of loans were in 1-4 family mortgage loans. $391,628,000 of loans were in farm loans. $0 of loans were in credit card loans. $43,845,000 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 | 261 | $26,805 | $102,701 |
Nonfarm, nonresidential loans - <$100k | 149 | $5,753 | $38,611 |
Nonfarm, nonresidential loans - $100-250k | 74 | $9,056 | $122,378 |
Nonfarm, nonresidential loans - $250k-1MM | 38 | $11,996 | $315,684 |
Commercial & Industrial, US addressed loans - <$1MM | 1,294 | $56,233 | $43,457 |
Commercial & Industrial, US addressed loans - <$100k | 1,083 | $24,569 | $22,686 |
Commercial & Industrial, US addressed loans - $100-250k | 146 | $15,279 | $104,651 |
Commercial & Industrial, US addressed loans - $250k-1MM | 65 | $16,385 | $252,077 |
Farmland loans - <$1MM | 1,277 | $214,108 | $167,665 |
Farmland loans - <$100k | 273 | $11,764 | $43,092 |
Farmland loans - $100-250k | 506 | $66,496 | $131,415 |
Farmland loans - $250k-1MM | 498 | $135,848 | $272,787 |
Agriculture operations loans - <$1MM | 3,536 | $200,727 | $56,767 |
Agriculture operations loans - <$100k | 2,529 | $62,106 | $24,558 |
Agriculture operations loans - $100-250k | 653 | $65,262 | $99,942 |
Agriculture operations loans - $250k-1MM | 354 | $73,359 | $207,229 |