Exchange Bank Mortgage Rates, Fees & Info

Gibbon, NE

LEI: 2549004ZRHLORHQ9LT73

Tax ID: 47-0153340

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Exchange Bank is a smaller bank specializing in Home Purchase and Refi loans. Exchange Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Grand Island, Omaha, Lincoln, Manhattan, and Salina among others. Exchange Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Exchange Bank is typically an average fee lendor.


Originations

640

Origination Dollar Volume (All Markets)

$186,490,000

Employee count

131 Show all (11) awards

Relative Rate

Exchange Bank's average 30 year fixed rate mortgage of loans were 2.74%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.41%.

Relative Fees

Exchange Bank's average total fees for a 30 year fixed rate mortgage are $3,895.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 272 $89,900,000 $330,515 $2,176 3.61%
GRAND ISLAND, NE (FHA|USDA|VA) 97 $26,705,000 $275,309 $1,669 4.45%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 70 $25,420,000 $363,143 $2,106 4.20%
LINCOLN, NE (FHA|USDA|VA) 107 $24,225,000 $226,402 $1,952 3.95%
MANHATTAN, KS (FHA|USDA|VA) 93 $20,165,000 $216,828 $5,414 2.77%
Salina, KS (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.00%

Exchange Bank's top markets include Grand Island, Omaha, Lincoln, Manhattan, and Salina among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 540 $166,290,000 $307,944 $1,842 3.95%
VA 88 $18,720,000 $212,727 $5,809 2.58%
USDA 12 $1,480,000 $123,333 $3,263 2.54%

For the 2021 period, Exchange Bank's most frequently originated loan type of loans were Conventional, with 540 originations. Their 2nd most popular type is VA, with 88 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 407 $96,285,000 $236,572 $3,576 3.72%
Refi 171 $78,585,000 $459,561 $1,809 3.94%
Cash Out Refi 41 $7,735,000 $188,659 $2,216 2.80%
Home Improvement 12 $3,440,000 $286,667 $1,305 4.26%
Other 9 $445,000 $49,444 $1,090 4.28%

For the 2021, Exchange Bank's most frequently cited loan purpose of loans were Home Purchase, with 407 originations. The 2nd most popular reason of loans were Refi, with 171 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
5 Year 239 $91,955,000 $384,749 $491 4.20%
30 Year 186 $44,450,000 $238,978 $3,895 2.74%
Other 93 $17,305,000 $186,075 $1,905 4.91%
15 Year 47 $15,315,000 $325,851 $1,863 3.26%
20 Year 28 $6,140,000 $219,286 $1,972 3.28%
1 Year 27 $4,685,000 $173,519 $1,824 4.59%
10 Year 13 $5,195,000 $399,615 $217 2.05%
3 Year 7 $1,445,000 $206,429 $0 3.75%

For the 2021, Exchange Bank's most frequently cited loan length of loans were 5 Year, with 239 originations. The 2nd most popular length of loans were 30 Year, with 186 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 307 $56,935,000 $185,456
$1k-2k 2 $410,000 $205,000
$2k-3k 1 $245,000 $245,000

$3,895 of loans were Exchange Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 307 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
4-5% 245 $56,855,000 $232,061
3-4% 162 $86,240,000 $532,346
<2.5% 121 $22,805,000 $188,471
2.5-3% 78 $14,640,000 $187,692
5-6% 22 $3,630,000 $165,000
6-7% 12 $2,320,000 $193,333

During 2021, Exchange Bank's average interest rate of loans were 2.74%, while their most frequently originated rate bucket of loans were 4-5%, with 245 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 256 $37,170,000 $145,195 $2,896 3.70%
$200k-400k 176 $46,400,000 $263,636 $3,819 3.47%
$100,000 or less 136 $8,680,000 $63,824 $1,488 4.03%
$400k-600k 33 $15,105,000 $457,727 $2,608 3.73%
$1MM+ 24 $68,920,000 $2,871,667 $0 3.89%
$600k-1MM 15 $10,215,000 $681,000 $1,134 4.56%

2021 saw Exchange Bank place emphasis on $100k-200k loans with 256 originations, totaling $37,170,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 107 $17,685,000 $165,280 $3,135 3.06%
$50k or less 89 $10,425,000 $117,135 $2,979 3.67%
$100k-150k 84 $16,770,000 $199,643 $2,969 3.45%
$75k-100k 63 $11,935,000 $189,444 $3,260 3.51%
$150k-250k 33 $8,215,000 $248,939 $2,822 3.61%
$250k+ 20 $5,810,000 $290,500 $1,957 3.99%

Exchange Bank lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $50k or less, with 89 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 62 $11,070,000 $178,548 $2,542 2.88%
30-36% 53 $8,785,000 $165,755 $2,689 3.46%
<20% 35 $6,995,000 $199,857 $2,410 3.19%
43% 22 $4,300,000 $195,455 $2,539 3.57%
40% 16 $2,820,000 $176,250 $2,641 3.25%
44% 15 $2,745,000 $183,000 $3,120 3.15%
50-60% 15 $3,185,000 $212,333 $4,722 2.67%
38% 14 $2,540,000 $181,429 $3,037 3.16%
39% 14 $2,430,000 $173,571 $2,200 3.02%
42% 13 $2,295,000 $176,538 $2,439 3.37%
>60% 10 $2,070,000 $207,000 $5,606 3.20%
41% 9 $2,045,000 $227,222 $4,247 2.99%
47% 8 $1,750,000 $218,750 $5,637 3.31%
37% 7 $1,185,000 $169,286 $3,040 3.06%
45% 6 $1,090,000 $181,667 $3,057 3.43%
36% 5 $1,045,000 $209,000 $4,308 3.03%
48% 4 $880,000 $220,000 $4,292 2.44%
46% 3 $445,000 $148,333 $3,958 4.22%
49% 1 $245,000 $245,000 $7,646 2.25%

Exchange Bank lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? 30-36%, with 53 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 219 $103,565,000 $472,900 $0 4.22%
White 335 $67,055,000 $200,164 $2,923 3.45%
Not provided 59 $10,585,000 $179,407 $3,629 3.71%
Black 16 $3,190,000 $199,375 $3,751 3.14%
American Indian 5 $965,000 $193,000 $2,242 4.31%
Asian 5 $945,000 $189,000 $2,095 3.98%
Native Hawaiian 1 $185,000 $185,000 $6,372 2.13%

Approval Rates

Total approvals of all applications
94.67%

Exchange Bank has an average approval rate.

Pick Rate

Approvals leading to origination
81.11%

Exchange Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 640 $186,490,000 $291,391

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
640 $186,490,000 $291,391

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 50 $28,790,000 $575,800 $1,660 3.71%
40-60% 69 $32,715,000 $474,130 $1,954 4.19%
60-80% 205 $67,135,000 $327,488 $1,977 3.88%
80-100% 193 $37,695,000 $195,311 $3,210 3.38%
Over 100% 22 $5,170,000 $235,000 $9,227 2.42%
Under 20% 101 $14,985,000 $148,366 $393 4.12%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Exchange Bank 8008 West Dodge Road Omaha, NE 68114 Full Service B&M $28,948
Exchange Bank 1204 Allen Drive Grand Island, NE 68803 Full Service B&M $235,226
Exchange Bank 14 Labarre Street Gibbon, NE 68840 Full Service B&M $80,764
Exchange Bank 1720 South Ohio Street Salina, KS 67401 Full Service B&M $75,303
Exchange Bank 3110 2nd Avenue Kearney, NE 68847 Full Service B&M $185,574
Exchange Bank 702 North Washington Street Junction City, KS 66441 Full Service B&M $79,275
Exchange Bank 7655 Pioneers Blvd Lincoln, NE 68516 Full Service B&M $161,647
Exchange Bank 939 South Locust Street Grand Island, NE 68801 Full Service B&M $22,880

For 2021, Exchange Bank had 8 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $44,656
Net interest income $36,047
Total noninterest income $5,688
Gross Fiduciary activities income $298
Service charges on deposit accounts $336
Trading account gains and fees $0
Additional Noninterest Income $5,054
Pre-tax net operating income $22,266
Securities gains (or losses, -) $1,416
Income before extraordinary items $23,085
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $23,085
Minority interest net income $0
Net income $23,085
Sale, conversion, retirement of capital stock, net $0
Net operating income $21,711

Exchange Bank's gross interest income from loans was $44,656,000.
Exchange Bank's net interest income from loans was $36,047,000.
Exchange Bank's fee based income from loans was $336,000.
Exchange Bank's net income from loans was $23,085,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $8,609
Provision for credit losses $1,500
Total noninterest expense $17,969
Salaries and employee benefits $11,049
Premises and equipment expense $2,503
Additional noninterest expense $4,417
Applicable income taxes $597
Net charge-offs $220
Cash dividends $8,700

Exchange Bank's interest expense for loans was $8,609,000.
Exchange Bank's payroll and benefits expense were $11,049,000.
Exchange Bank's property, plant and equipment expenses $2,503,000.

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 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 2.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $893,733
Deposits held in domestic offices $893,733
Deposits by Individuals, partnerships, and corporations $802,207
Deposits by U.S. Government $5
Deposits by States and political subdivisions in the U.S. $26,001
Deposits by Commercial banks and other depository institutions in U.S. $65,520
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $26,923
Demand deposits $4,399
Nontransaction accounts $866,810
Money market deposit accounts (MMDAs) $467,132
Other savings deposits (excluding MMDAs) $45,188
Total time deposits $354,490
Total time and savings deposits $889,334
Noninterest-bearing deposits $96,836
Interest-bearing deposits $796,897
Retail deposits $777,182
IRAs and Keogh plan accounts $22,793
Brokered deposits $87,549
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,232,471
Cash & Balances due from depository institutions $9,594
Interest-bearing balances $1,954
Total securities $333,028
Federal funds sold & reverse repurchase $0
Net loans and leases $823,052
Loan and leases loss allowance $13,914
Trading account assets $0
Bank premises and fixed assets $18,533
Other real estate owned $638
Goodwill and other intangibles $3,103
All other assets $44,523

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,232,471
Total Liabilities $1,097,892
Total deposits $893,733
Interest-bearing deposits $796,897
Deposits held in domestic offices $893,733
% insured (estimated) $70
Federal funds purchased and repurchase agreements $5,290
Trading liabilities $0
Other borrowed funds $197,207
Subordinated debt $0
All other liabilities $1,662

Issued Loan Types

Type Value (in 000's)
Net loans and leases $823,052
Loan and leases loss allowance $13,914
Total loans and leases (domestic) $836,966
All real estate loans $667,883
Real estate loans in domestic offices $667,883
Construction and development loans $56,977
Residential 1-4 family construction $19,430
Other construction, all land development and other land $37,547
Loans secured by nonfarm nonresidential properties $269,611
Nonfarm nonresidential secured by owner-occupied properties $85,118
Commercial real estate & other non-farm, non-residential $184,493
Multifamily residential real estate $107,654
1-4 family residential loans $151,008
Farmland loans $82,633
Loans held in foreign offices $0
Farm loans $63,641
Commercial and industrial loans $73,976
To non-U.S. addressees $0
Loans to individuals $6,499
Credit card loans $0
Related Plans $99
Consumer Auto Loans $3,371
Other loans to individuals $3,029
All other loans & leases $24,967
Loans to foreign governments and official institutions $0
Other loans $0
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

Exchange Bank had $823,052,000 of loans outstanding in 2021. $667,883,000 of loans were in real estate loans. $56,977,000 of loans were in development loans. $107,654,000 of loans were in multifamily mortgage loans. $151,008,000 of loans were in 1-4 family mortgage loans. $63,641,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,371,000 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 161 $43,164 $268,099
Nonfarm, nonresidential loans - <$100k 34 $1,792 $52,706
Nonfarm, nonresidential loans - $100-250k 52 $7,663 $147,365
Nonfarm, nonresidential loans - $250k-1MM 75 $33,709 $449,453
Commercial & Industrial, US addressed loans - <$1MM 351 $24,165 $68,846
Commercial & Industrial, US addressed loans - <$100k 257 $6,352 $24,716
Commercial & Industrial, US addressed loans - $100-250k 53 $6,250 $117,925
Commercial & Industrial, US addressed loans - $250k-1MM 41 $11,563 $282,024
Farmland loans - <$1MM 63 $12,252 $194,476
Farmland loans - <$100k 17 $836 $49,176
Farmland loans - $100-250k 21 $2,951 $140,524
Farmland loans - $250k-1MM 25 $8,465 $338,600
Agriculture operations loans - <$1MM 111 $11,260 $101,441
Agriculture operations loans - <$100k 50 $1,341 $26,820
Agriculture operations loans - $100-250k 32 $3,029 $94,656
Agriculture operations loans - $250k-1MM 29 $6,890 $237,586