South Story Bank & Trust Mortgage Rates, Fees & Info
SLATER, IALEI: 254900DJ8WC0BQHYR275
Tax ID: 42-0739240
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Mortgage Data
Review & Overview
South Story Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. South Story Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Minneapolis, Phoenix, and Brainerd among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)South Story Bank & Trust 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.
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Originations
72Origination Dollar Volume (All Markets)
$26,290,000Top 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) | 20 | $9,290,000 | $464,500 | $0 | 0.00% |
| AMES, IA (FHA|USDA|VA) | 24 | $6,030,000 | $251,250 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 12 | $3,180,000 | $265,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $2,890,000 | $1,445,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $1,080,000 | $540,000 | $0 | 0.00% |
| Brainerd, MN (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $0 | 0.00% |
| JOPLIN, MO (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $0 | 0.00% |
| Marshalltown, IA (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $0 | 0.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 72 | $26,290,000 | $365,139 | $0 | 0.00% |
For 2024, South Story Bank & Trust's most frequently originated type of loan was Conventional, with 72 originations.
Loan Reason
For 2024, South Story Bank & Trust's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 17 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 72 | $26,290,000 | $365,139 | $0 | 0.00% |
For 2024, South Story Bank & Trust's most frequently cited loan duration was Other, with 72 originations.
Loan Sizing
2024 saw South Story Bank & Trust place emphasis on $200k-400k loans with 21 originations, totaling $6,185,000 in origination value.
Applicant Income
South Story Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $150k-250k, with 13 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 72 | $26,290,000 | $365,139 | $0 | 0.00% |
South Story Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.78%
South Story Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination87.50%
South Story Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 72 | $26,290,000 | $365,139 |