Premier Bank Mortgage Rates, Fees & Info

Rock Valley, IA

LEI: 25490031SXYH24299E86

Tax ID: 39-1871370

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Premier Bank is a smaller bank specializing in Home Purchase and Refi loans. Premier Bank has a high proportion of conventional loans. Their top markets by origination volume include: Colorado Springs, Sioux City, and Sioux Falls among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Premier Bank 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    142

    Origination Dollar Volume (All Markets)

    $18,830,000

    Employee count

    57

    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 80 $9,420,000 $117,750 $0 0.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 28 $5,800,000 $207,143 $0 0.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 21 $1,985,000 $94,524 $0 0.00%
    SIOUX FALLS, SD (FHA|USDA|VA) 13 $1,625,000 $125,000 $0 0.00%
    Premier Bank's top markets include Colorado Springs, Sioux City, and Sioux Falls among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $17,680,000 $136,000 $0 0.00%
    USDA 12 $1,150,000 $95,833 $0 0.00%

    For 2018, Premier Bank's most frequently originated type of loan was Conventional, with 130 originations. Their 2nd most popular type was USDA, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 89 $13,845,000 $155,562 $0 0.00%
    Refi 38 $4,040,000 $106,316 $0 0.00%
    Home Improvement 11 $835,000 $75,909 $0 0.00%
    Other 4 $110,000 $27,500 $0 0.00%

    For 2018, Premier Bank's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 142 $18,830,000 $132,606 $0 0.00%

    For 2018, Premier Bank's most frequently cited loan duration was Other, with 142 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 58 $2,950,000 $50,862 $0 0.00%
    $100k-200k 48 $6,890,000 $143,542 $0 0.00%
    $200k-400k 35 $8,575,000 $245,000 $0 0.00%
    $400k-600k 1 $415,000 $415,000 $0 0.00%

    2018 saw Premier Bank place emphasis on $100,000 or less loans with 58 originations, totaling $2,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 33 $2,605,000 $78,939 $0 0.00%
    $50k-75k 27 $3,335,000 $123,519 $0 0.00%
    $75k-100k 23 $2,475,000 $107,609 $0 0.00%
    $100k-150k 12 $1,910,000 $159,167 $0 0.00%
    $150k-250k 3 $335,000 $111,667 $0 0.00%
    $250k+ 3 $445,000 $148,333 $0 0.00%

    Premier Bank lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 142 $18,830,000 $132,606 $0 0.00%

    Premier Bank lent most frequently to those with DTI ratios of Exempt%, with 142 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 111 $12,415,000 $111,847 $0 0.00%
    Not applicable 31 $6,415,000 $206,935 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.87%

    Premier Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.73%

    Premier Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 142 $18,830,000 $132,606

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $415,000 $415,000
    Single Family (1-4 Units):Manufactured 3 $185,000 $61,667
    Single Family (1-4 Units):Site-Built 138 $18,230,000 $132,101

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Primary Capital Mortgage, LLC VA mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Premier Bank 227 Main Street Doon, IA 51235 Full Service B&M $16,604
    Premier Bank 1004 21st Avenue Rock Valley, IA 51247 Full Service B&M $204,662
    Premier Bank 190 Iowa St Alcester, SD 57001 Full Service B&M $109,096
    Premier Bank 500 4th Street Hudson, SD 57034 Full Service B&M $28,537
    Premier Bank 710 First Avenue Rock Rapids, IA 51246 Full Service B&M $49,340

    For 2018, Premier Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,362
    Net interest income $20,156
    Total noninterest income $1,863
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $742
    Trading account gains and fees $0
    Additional Noninterest Income $1,121
    Pre-tax net operating income $12,372
    Securities gains (or losses, -) $-17
    Income before extraordinary items $11,980
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,980
    Minority interest net income $0
    Net income $11,980
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,996

    Premier Bank's gross interest income from loans was $26,362,000.
    Premier Bank's net interest income from loans was $20,156,000.
    Premier Bank's fee based income from loans was $742,000.
    Premier Bank's net income from loans was $11,980,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,206
    Provision for credit losses $1,900
    Total noninterest expense $7,747
    Salaries and employee benefits $4,912
    Premises and equipment expense $487
    Additional noninterest expense $2,348
    Applicable income taxes $375
    Net charge-offs $727
    Cash dividends $4,972

    Premier Bank's interest expense for loans was $6,206,000.
    Premier Bank's payroll and benefits expense were $4,912,000.
    Premier Bank's property, plant and equipment expenses $487,000.

    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 $447,880
    Deposits held in domestic offices $447,880
    Deposits by Individuals, partnerships, and corporations $321,543
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $55,985
    Deposits by Commercial banks and other depository institutions in U.S. $70,352
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $115,802
    Demand deposits $68,471
    Nontransaction accounts $332,078
    Money market deposit accounts (MMDAs) $73,071
    Other savings deposits (excluding MMDAs) $25,986
    Total time deposits $233,021
    Total time and savings deposits $379,409
    Noninterest-bearing deposits $68,500
    Interest-bearing deposits $379,380
    Retail deposits $364,742
    IRAs and Keogh plan accounts $20,935
    Brokered deposits $60,324
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $552,325
    Cash & Balances due from depository institutions $9,325
    Interest-bearing balances $531
    Total securities $27,057
    Federal funds sold & reverse repurchase $28,874
    Net loans and leases $463,987
    Loan and leases loss allowance $5,999
    Trading account assets $0
    Bank premises and fixed assets $3,251
    Other real estate owned $634
    Goodwill and other intangibles $7,558
    All other assets $11,639

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $552,325
    Total Liabilities $492,857
    Total deposits $447,880
    Interest-bearing deposits $379,380
    Deposits held in domestic offices $447,880
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $43,181
    Subordinated debt $0
    All other liabilities $1,796

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $463,987
    Loan and leases loss allowance $5,999
    Total loans and leases (domestic) $469,986
    All real estate loans $222,447
    Real estate loans in domestic offices $222,447
    Construction and development loans $10,157
    Residential 1-4 family construction $2,210
    Other construction, all land development and other land $7,947
    Loans secured by nonfarm nonresidential properties $28,969
    Nonfarm nonresidential secured by owner-occupied properties $21,002
    Commercial real estate & other non-farm, non-residential $7,967
    Multifamily residential real estate $952
    1-4 family residential loans $31,654
    Farmland loans $150,715
    Loans held in foreign offices $0
    Farm loans $170,558
    Commercial and industrial loans $50,879
    To non-U.S. addressees $0
    Loans to individuals $11,116
    Credit card loans $0
    Related Plans $249
    Consumer Auto Loans $8,816
    Other loans to individuals $2,051
    All other loans & leases $14,986
    Loans to foreign governments and official institutions $0
    Other loans $2,109
    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

    Premier Bank had $463,987,000 of loans outstanding in 2018. $222,447,000 of loans were in real estate loans. $10,157,000 of loans were in development loans. $952,000 of loans were in multifamily mortgage loans. $31,654,000 of loans were in 1-4 family mortgage loans. $170,558,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,816,000 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 121 $18,387 $151,959
    Nonfarm, nonresidential loans - <$100k 53 $2,250 $42,453
    Nonfarm, nonresidential loans - $100-250k 36 $4,642 $128,944
    Nonfarm, nonresidential loans - $250k-1MM 32 $11,495 $359,219
    Commercial & Industrial, US addressed loans - <$1MM 608 $37,179 $61,150
    Commercial & Industrial, US addressed loans - <$100k 461 $10,643 $23,087
    Commercial & Industrial, US addressed loans - $100-250k 81 $9,028 $111,457
    Commercial & Industrial, US addressed loans - $250k-1MM 66 $17,508 $265,273
    Farmland loans - <$1MM 368 $55,836 $151,728
    Farmland loans - <$100k 114 $5,065 $44,430
    Farmland loans - $100-250k 144 $19,095 $132,604
    Farmland loans - $250k-1MM 110 $31,676 $287,964
    Agriculture operations loans - <$1MM 994 $81,603 $82,096
    Agriculture operations loans - <$100k 589 $16,277 $27,635
    Agriculture operations loans - $100-250k 280 $32,609 $116,461
    Agriculture operations loans - $250k-1MM 125 $32,717 $261,736