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. They have a low ratio of USDA loans. Their top markets by origination volume include: Colorado Springs, Sioux Falls, Sioux City, Vermillion, and Spirit Lake among others. We have data for 7 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 an 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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    Originations

    175

    Origination Dollar Volume (All Markets)

    $24,885,000

    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 105 $13,975,000 $133,095 $0 0.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 35 $7,225,000 $206,429 $0 0.00%
    SIOUX FALLS, SD (FHA|USDA|VA) 17 $1,755,000 $103,235 $0 0.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 11 $885,000 $80,455 $0 0.00%
    Vermillion, SD (FHA|USDA|VA) 5 $485,000 $97,000 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    RAPID CITY, SD (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Premier Bank's top markets include Colorado Springs, Sioux Falls, Sioux City, Vermillion, and Spirit Lake 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 167 $23,935,000 $143,323 $0 0.00%
    USDA 8 $950,000 $118,750 $0 0.00%

    For 2019, Premier Bank's most frequently originated type of loan was Conventional, with 167 originations. Their 2nd most popular type was USDA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 104 $16,780,000 $161,346 $0 0.00%
    Refi 54 $6,990,000 $129,444 $0 0.00%
    Home Improvement 9 $605,000 $67,222 $0 0.00%
    Other 8 $510,000 $63,750 $0 0.00%

    For 2019, Premier Bank's most frequently cited loan purpose was Home Purchase, with 104 originations. The 2nd most popular reason was Refi, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 175 $24,885,000 $142,200 $0 0.00%

    For 2019, Premier Bank's most frequently cited loan duration was Other, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 67 $9,895,000 $147,687 $0 0.00%
    $100,000 or less 66 $3,190,000 $48,333 $0 0.00%
    $200k-400k 39 $10,185,000 $261,154 $0 0.00%
    $400k-600k 2 $970,000 $485,000 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2019 saw Premier Bank place emphasis on $100k-200k loans with 67 originations, totaling $9,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 41 $2,685,000 $65,488 $0 0.00%
    $75k-100k 32 $5,070,000 $158,438 $0 0.00%
    $50k-75k 29 $3,255,000 $112,241 $0 0.00%
    $100k-150k 17 $2,935,000 $172,647 $0 0.00%
    $150k-250k 7 $1,725,000 $246,429 $0 0.00%

    Premier Bank lent most frequently to those with incomes in the $50k or less range, with 41 originations. The second most popular income band? $75k-100k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 175 $24,885,000 $142,200 $0 0.00%

    Premier Bank lent most frequently to those with DTI ratios of Exempt%, with 175 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 132 $16,140,000 $122,273 $0 0.00%
    Not applicable 42 $8,600,000 $204,762 $0 0.00%
    Not provided 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.84%

    Premier Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.57%

    Premier Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 175 $24,885,000 $142,200

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $645,000 $645,000
    Single Family (1-4 Units):Manufactured 5 $315,000 $63,000
    Single Family (1-4 Units):Site-Built 169 $23,925,000 $141,568

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Premier Lending, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Premier Bank 1004 21st Avenue Rock Valley, IA 51247 Full Service B&M $249,723
    Premier Bank 190 Iowa St Alcester, SD 57001 Full Service B&M $111,528
    Premier Bank 227 Main Street Doon, IA 51235 Full Service B&M $20,751
    Premier Bank 500 4th Street Hudson, SD 57034 Full Service B&M $24,099
    Premier Bank 710 First Avenue Rock Rapids, IA 51246 Full Service B&M $53,008

    For 2019, Premier Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,112
    Net interest income $19,640
    Total noninterest income $1,696
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $741
    Trading account gains and fees $0
    Additional Noninterest Income $955
    Pre-tax net operating income $12,010
    Securities gains (or losses, -) $12
    Income before extraordinary items $11,469
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,469
    Minority interest net income $0
    Net income $11,469
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,457

    Premier Bank's gross interest income from loans was $29,112,000.
    Premier Bank's net interest income from loans was $19,640,000.
    Premier Bank's fee based income from loans was $741,000.
    Premier Bank's net income from loans was $11,469,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,472
    Provision for credit losses $1,400
    Total noninterest expense $7,926
    Salaries and employee benefits $5,384
    Premises and equipment expense $507
    Additional noninterest expense $2,035
    Applicable income taxes $553
    Net charge-offs $435
    Cash dividends $5,380

    Premier Bank's interest expense for loans was $9,472,000.
    Premier Bank's payroll and benefits expense were $5,384,000.
    Premier Bank's property, plant and equipment expenses $507,000.

    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 $457,511
    Deposits held in domestic offices $457,511
    Deposits by Individuals, partnerships, and corporations $347,679
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $46,304
    Deposits by Commercial banks and other depository institutions in U.S. $63,527
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $110,372
    Demand deposits $81,575
    Nontransaction accounts $347,138
    Money market deposit accounts (MMDAs) $76,448
    Other savings deposits (excluding MMDAs) $28,667
    Total time deposits $242,025
    Total time and savings deposits $375,935
    Noninterest-bearing deposits $70,048
    Interest-bearing deposits $387,463
    Retail deposits $368,218
    IRAs and Keogh plan accounts $22,297
    Brokered deposits $62,630
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $564,246
    Cash & Balances due from depository institutions $7,778
    Interest-bearing balances $344
    Total securities $56,134
    Federal funds sold & reverse repurchase $5,216
    Net loans and leases $472,555
    Loan and leases loss allowance $6,964
    Trading account assets $0
    Bank premises and fixed assets $3,098
    Other real estate owned $530
    Goodwill and other intangibles $7,294
    All other assets $11,641

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $564,246
    Total Liabilities $498,154
    Total deposits $457,511
    Interest-bearing deposits $387,463
    Deposits held in domestic offices $457,511
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $38,500
    Subordinated debt $0
    All other liabilities $2,143

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $472,555
    Loan and leases loss allowance $6,964
    Total loans and leases (domestic) $479,519
    All real estate loans $229,012
    Real estate loans in domestic offices $229,012
    Construction and development loans $7,679
    Residential 1-4 family construction $1,658
    Other construction, all land development and other land $6,021
    Loans secured by nonfarm nonresidential properties $30,745
    Nonfarm nonresidential secured by owner-occupied properties $22,564
    Commercial real estate & other non-farm, non-residential $8,181
    Multifamily residential real estate $1,458
    1-4 family residential loans $32,936
    Farmland loans $156,194
    Loans held in foreign offices $0
    Farm loans $178,489
    Commercial and industrial loans $51,647
    To non-U.S. addressees $0
    Loans to individuals $9,532
    Credit card loans $0
    Related Plans $250
    Consumer Auto Loans $8,070
    Other loans to individuals $1,212
    All other loans & leases $10,838
    Loans to foreign governments and official institutions $0
    Other loans $641
    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 $5,100
    Non 1-4 family restructured loans & leases $5,100
    Total loans and leases (foreign) $0

    Premier Bank had $472,555,000 of loans outstanding in 2019. $229,012,000 of loans were in real estate loans. $7,679,000 of loans were in development loans. $1,458,000 of loans were in multifamily mortgage loans. $32,936,000 of loans were in 1-4 family mortgage loans. $178,489,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,070,000 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 134 $20,785 $155,112
    Nonfarm, nonresidential loans - <$100k 54 $2,287 $42,352
    Nonfarm, nonresidential loans - $100-250k 45 $5,981 $132,911
    Nonfarm, nonresidential loans - $250k-1MM 35 $12,517 $357,629
    Commercial & Industrial, US addressed loans - <$1MM 547 $36,802 $67,280
    Commercial & Industrial, US addressed loans - <$100k 408 $9,226 $22,613
    Commercial & Industrial, US addressed loans - $100-250k 74 $7,529 $101,743
    Commercial & Industrial, US addressed loans - $250k-1MM 65 $20,047 $308,415
    Farmland loans - <$1MM 349 $54,174 $155,226
    Farmland loans - <$100k 99 $4,313 $43,566
    Farmland loans - $100-250k 140 $18,281 $130,579
    Farmland loans - $250k-1MM 110 $31,580 $287,091
    Agriculture operations loans - <$1MM 943 $85,541 $90,712
    Agriculture operations loans - <$100k 522 $15,182 $29,084
    Agriculture operations loans - $100-250k 282 $36,563 $129,656
    Agriculture operations loans - $250k-1MM 139 $33,796 $243,137