American State Bank Mortgage Rates, Fees & Info

Osceola, IA

LEI: 254900A1GT4B0CJ1GH46

Tax ID: 42-1295132

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Mortgage Data

Bank Data

Review & Overview

American State Bank is a smaller bank specializing in Home Purchase and Refi loans. American State Bank has a high proportion of conventional loans. Their top two markets are Des Moines and Kansas City .

American State Bank has an average approval rate when compared to the average across all lenders.

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Originations

70

Origination Dollar Volume (All Markets)

$5,760,000

Employee count

39

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
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 40 $3,710,000 $92,750 $0 0.00%
Outside of Metro Areas 29 $1,935,000 $66,724 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
American State Bank's top markets include Des Moines and Kansas City among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 70 $5,760,000 $82,286 $0 0.00%

    For 2019, American State Bank's most frequently originated type of loan was Conventional, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $3,180,000 $106,000 $0 0.00%
    Refi 24 $1,860,000 $77,500 $0 0.00%
    Home Improvement 9 $225,000 $25,000 $0 0.00%
    Other 7 $495,000 $70,714 $0 0.00%

    For 2019, American State Bank's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 70 $5,760,000 $82,286 $0 0.00%

    For 2019, American State Bank's most frequently cited loan duration was Other, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $1,925,000 $42,778 $0 0.00%
    $100k-200k 22 $2,930,000 $133,182 $0 0.00%
    $200k-400k 3 $905,000 $301,667 $0 0.00%

    2019 saw American State Bank place emphasis on $100,000 or less loans with 45 originations, totaling $1,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $1,635,000 $71,087 $0 0.00%
    $50k-75k 22 $1,390,000 $63,182 $0 0.00%
    $75k-100k 9 $975,000 $108,333 $0 0.00%
    $100k-150k 6 $480,000 $80,000 $0 0.00%
    $150k-250k 3 $395,000 $131,667 $0 0.00%
    $250k+ 1 $375,000 $375,000 $0 0.00%

    American State Bank lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 70 $5,760,000 $82,286 $0 0.00%

    American State Bank lent most frequently to those with DTI ratios of Exempt%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 65 $5,365,000 $82,538 $0 0.00%
    Not applicable 5 $395,000 $79,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.61%

    American State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 70 $5,760,000 $82,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $115,000 $115,000
    Single Family (1-4 Units):Manufactured 6 $740,000 $123,333
    Single Family (1-4 Units):Site-Built 63 $4,905,000 $77,857

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    AMERIS BANCORP VA mortgage Trouble during payment process 1 7.1%
    AMERIS BANCORP Conventional home mortgage Closing on a mortgage 1 7.1%
    AMERIS BANCORP Conventional home mortgage Struggling to pay mortgage 1 7.1%
    AMERIS BANCORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 14.3%
    AMERIS BANCORP Conventional home mortgage Trouble during payment process 5 35.7%
    AMERIS BANCORP FHA mortgage Trouble during payment process 1 7.1%
    AMERIS BANCORP Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 14.3%
    AMERIS BANCORP Other type of mortgage Struggling to pay mortgage 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    American State Bank 1000 Jeffreys Drive Osceola, IA 50213 Full Service B&M $125,444
    American State Bank 101 North Main Osceola, IA 50213 Full Service B&M $0
    American State Bank 801 East Main Street Lamoni, IA 50140 Full Service B&M $27,671
    American State Bank 809 North John Wayne Drive Winterset, IA 50273 Full Service B&M $30,865

    For 2019, American State Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,476
    Net interest income $8,135
    Total noninterest income $2,473
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,156
    Trading account gains and fees $0
    Additional Noninterest Income $1,317
    Pre-tax net operating income $4,138
    Securities gains (or losses, -) $34
    Income before extraordinary items $3,974
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,974
    Minority interest net income $0
    Net income $3,974
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,941

    American State Bank's gross interest income from loans was $10,476,000.
    American State Bank's net interest income from loans was $8,135,000.
    American State Bank's fee based income from loans was $1,156,000.
    American State Bank's net income from loans was $3,974,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,341
    Provision for credit losses $495
    Total noninterest expense $5,975
    Salaries and employee benefits $3,409
    Premises and equipment expense $684
    Additional noninterest expense $1,882
    Applicable income taxes $198
    Net charge-offs $424
    Cash dividends $2,800

    American State Bank's interest expense for loans was $2,341,000.
    American State Bank's payroll and benefits expense were $3,409,000.
    American State Bank's property, plant and equipment expenses $684,000.

    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 3.0%
    Personal loans 0.0%
    Credit card loans 25.0%
    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 $175,983
    Deposits held in domestic offices $175,983
    Deposits by Individuals, partnerships, and corporations $143,942
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $32,041
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $62,906
    Demand deposits $57,244
    Nontransaction accounts $113,077
    Money market deposit accounts (MMDAs) $4,311
    Other savings deposits (excluding MMDAs) $45,396
    Total time deposits $63,370
    Total time and savings deposits $118,739
    Noninterest-bearing deposits $21,954
    Interest-bearing deposits $154,029
    Retail deposits $145,536
    IRAs and Keogh plan accounts $3,638
    Brokered deposits $10,272
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $221,431
    Cash & Balances due from depository institutions $12,847
    Interest-bearing balances $9,372
    Total securities $36,471
    Federal funds sold & reverse repurchase $7,000
    Net loans and leases $153,355
    Loan and leases loss allowance $1,752
    Trading account assets $0
    Bank premises and fixed assets $3,572
    Other real estate owned $205
    Goodwill and other intangibles $237
    All other assets $7,744

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $221,431
    Total Liabilities $199,533
    Total deposits $175,983
    Interest-bearing deposits $154,029
    Deposits held in domestic offices $175,983
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $1,143
    Trading liabilities $0
    Other borrowed funds $21,135
    Subordinated debt $0
    All other liabilities $1,272

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $153,355
    Loan and leases loss allowance $1,752
    Total loans and leases (domestic) $155,107
    All real estate loans $89,874
    Real estate loans in domestic offices $89,874
    Construction and development loans $4,276
    Residential 1-4 family construction $3,939
    Other construction, all land development and other land $337
    Loans secured by nonfarm nonresidential properties $20,554
    Nonfarm nonresidential secured by owner-occupied properties $12,920
    Commercial real estate & other non-farm, non-residential $7,634
    Multifamily residential real estate $809
    1-4 family residential loans $25,722
    Farmland loans $38,513
    Loans held in foreign offices $0
    Farm loans $24,019
    Commercial and industrial loans $30,208
    To non-U.S. addressees $0
    Loans to individuals $9,547
    Credit card loans $100
    Related Plans $0
    Consumer Auto Loans $4,480
    Other loans to individuals $4,967
    All other loans & leases $1,459
    Loans to foreign governments and official institutions $0
    Other loans $116
    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

    American State Bank had $153,355,000 of loans outstanding in 2019. $89,874,000 of loans were in real estate loans. $4,276,000 of loans were in development loans. $809,000 of loans were in multifamily mortgage loans. $25,722,000 of loans were in 1-4 family mortgage loans. $24,019,000 of loans were in farm loans. $100,000 of loans were in credit card loans. $4,480,000 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 135 $16,753 $124,096
    Nonfarm, nonresidential loans - <$100k 83 $4,494 $54,145
    Nonfarm, nonresidential loans - $100-250k 27 $3,286 $121,704
    Nonfarm, nonresidential loans - $250k-1MM 25 $8,973 $358,920
    Commercial & Industrial, US addressed loans - <$1MM 352 $26,467 $75,190
    Commercial & Industrial, US addressed loans - <$100k 323 $19,853 $61,464
    Commercial & Industrial, US addressed loans - $100-250k 18 $2,170 $120,556
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $4,444 $404,000
    Farmland loans - <$1MM 271 $31,005 $114,410
    Farmland loans - <$100k 127 $5,854 $46,094
    Farmland loans - $100-250k 108 $14,303 $132,435
    Farmland loans - $250k-1MM 36 $10,848 $301,333
    Agriculture operations loans - <$1MM 742 $23,084 $31,111
    Agriculture operations loans - <$100k 724 $20,462 $28,262
    Agriculture operations loans - $100-250k 16 $1,946 $121,625
    Agriculture operations loans - $250k-1MM 2 $676 $338,000