Exchange Bank Mortgage Rates, Fees & Info

Gibbon, NE

LEI: 2549004ZRHLORHQ9LT73

Tax ID: 47-0153340

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    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 by origination volume include: Grand Island, Omaha, Lincoln, Manhattan, and Salina among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Exchange Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Exchange Bank 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.

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

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.61% 4/22/24
    30 Year Conventional Refi 6.51% 4/22/24
    30 Year Cash-out Refi 6.76% 4/22/24
    30 Year VA Purchase 5.94% 4/22/24
    15 Year Conventional Purchase 6.17% 4/22/24
    15 Year Conventional Refi 6.20% 4/22/24
    15 Year Cash-out Refi 6.20% 4/22/24
    15 Year VA Purchase 5.68% 4/22/24
    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.

    Exchange Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Exchange Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    640

    Origination Dollar Volume (All Markets)

    $186,490,000

    Employee count

    131 Show all (11) awards

    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 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.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Exchange Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The Farmers State Bank of Westmoreland
    Similarity Rank: 42
    KANSAS STATE UNIVERSITY Federal Credit Union
    Similarity Rank: 126
    Home Federal Savings & Loan Association of Grand Island
    Similarity Rank: 195
    Exchange Bank
    Similarity Rank: 216
    Bank of the Flint Hills
    Similarity Rank: 225
    Mortgage Investment Services Corporation
    Similarity Rank: 264
    KELLOGG MIDWEST FEDERAL CREDIT UNION
    Similarity Rank: 322
    MUTUAL FIRST
    Similarity Rank: 484
    Cobalt Credit Union
    Similarity Rank: 490
    U.S. HOME MORTGAGE, INC.
    Similarity Rank: 525

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Exchange Bank's most frequently originated type of loan was Conventional, with 540 originations. Their 2nd most popular type was VA, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Exchange Bank's most frequently cited loan purpose was Home Purchase, with 407 originations. The 2nd most popular reason was 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 2021, Exchange Bank's most frequently cited loan duration was 5 Year, with 239 originations. The 2nd most popular length was 30 Year, with 186 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    Exchange Bank's average total fees were $3,895, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.74%, while their most frequently originated rate bucket for loans was 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 or Islander 1 $185,000 $185,000 $6,372 2.13%

    Approval Rates

    Total approvals of all applications
    94.30%

    Exchange Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.75%

    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 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 8008 West Dodge Road Omaha, NE 68114 Full Service B&M $28,948
    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