Premier Bank Mortgage Rates, Fees & Info

Rock Valley, IA

LEI: 25490031SXYH24299E86

Tax ID: 39-1871370

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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)

    • 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 City, Sioux Falls, Spencer, and Vermillion 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 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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    Originations

    89

    Origination Dollar Volume (All Markets)

    $14,945,000

    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 56 $8,910,000 $159,107 $0 0.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 9 $2,865,000 $318,333 $0 0.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 12 $1,210,000 $100,833 $0 0.00%
    SIOUX FALLS, SD (FHA|USDA|VA) 9 $1,205,000 $133,889 $0 0.00%
    Spencer, IA (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Vermillion, SD (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Worthington, MN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Premier Bank's top markets include Colorado Springs, Sioux City, Sioux Falls, Spencer, and Vermillion 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 87 $14,815,000 $170,287 $0 0.00%
    USDA 2 $130,000 $65,000 $0 0.00%

    For 2022, Premier Bank's most frequently originated type of loan was Conventional, with 87 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 54 $10,230,000 $189,444 $0 0.00%
    Refi 25 $3,405,000 $136,200 $0 0.00%
    Other 6 $920,000 $153,333 $0 0.00%
    Home Improvement 4 $390,000 $97,500 $0 0.00%

    For 2022, Premier Bank's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 89 $14,945,000 $167,921 $0 0.00%

    For 2022, Premier Bank's most frequently cited loan duration was Other, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,610,000 $53,667 $0 0.00%
    $200k-400k 30 $8,390,000 $279,667 $0 0.00%
    $100k-200k 27 $4,105,000 $152,037 $0 0.00%
    $400k-600k 2 $840,000 $420,000 $0 0.00%

    2022 saw Premier Bank place emphasis on $100,000 or less loans with 30 originations, totaling $1,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 25 $4,215,000 $168,600 $0 0.00%
    $50k or less 20 $1,870,000 $93,500 $0 0.00%
    $100k-150k 10 $1,430,000 $143,000 $0 0.00%
    $75k-100k 10 $1,510,000 $151,000 $0 0.00%
    $150k-250k 4 $850,000 $212,500 $0 0.00%
    $250k+ 3 $1,215,000 $405,000 $0 0.00%

    Premier Bank lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $50k or less, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 89 $14,945,000 $167,921 $0 0.00%

    Premier Bank lent most frequently to those with DTI ratios of Exempt%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $11,100,000 $154,167 $0 0.00%
    Not applicable 14 $3,330,000 $237,857 $0 0.00%
    Not provided 3 $515,000 $171,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.00%

    Premier Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.64%

    Premier Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 89 $14,945,000 $167,921

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    89 $14,945,000 $167,921

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    PRIMARY RESIDENTIAL MORTGAGE Conventional home mortgage Trouble during payment process 1 50.0%
    PRIMARY RESIDENTIAL MORTGAGE VA mortgage Trouble during payment process 1 50.0%