Cornhusker Bank Mortgage Rates, Fees & Info

Lincoln, NE

LEI: 254900EQ47K76CF2A976

Tax ID: 47-0157560

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cornhusker Bank is a smaller bank specializing in Refi and Home Purchase loans. Cornhusker Bank has a high proportion of conventional loans. Their top markets include Lincoln, Omaha, Beatrice, Des Moines, and Phoenix among others. Cornhusker 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. Cornhusker Bank is typically a low fee lendor.


Originations

980

Origination Dollar Volume (All Markets)

$286,940,000

Employee count

142

Awards

CORNHUSKER BANK 30 Year Conventional Loans gold CORNHUSKER BANK 30 Year Conventional Loans gold CORNHUSKER BANK 30 Year Conventional Loans gold
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Relative Rate

Cornhusker Bank's average 30 year fixed rate mortgage of loans were 3.08%.

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

This yields a difference of -0.07%.

Relative Fees

Cornhusker Bank's average total fees for a 30 year fixed rate mortgage are $1,487.

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
LINCOLN, NE (FHA|USDA|VA) 781 $216,065,000 $276,652 $1,383 3.28%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 136 $44,430,000 $326,691 $1,435 3.58%
Outside of Metro Areas 27 $6,795,000 $251,667 $1,430 3.21%
Beatrice, NE (FHA|USDA|VA) 6 $2,920,000 $486,667 $1,156 3.58%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 3 $2,595,000 $865,000 $0 3.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $2,450,000 $612,500 $2,805 3.11%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $2,045,000 $2,045,000 $0 3.88%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $1,260,000 $630,000 $1,133 3.00%
Pella, IA (FHA|USDA|VA) 1 $1,225,000 $1,225,000 $0 3.75%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $1,165,000 $388,333 $1,274 2.88%
Kalispell, MT (FHA|USDA|VA) 1 $1,155,000 $1,155,000 $0 3.75%
FORT COLLINS, CO (FHA|USDA|VA) 2 $1,020,000 $510,000 $867 3.38%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $795,000 $795,000 $0 3.88%
GREELEY, CO (FHA|USDA|VA) 1 $545,000 $545,000 $2,813 2.88%
Fremont, NE (FHA|USDA|VA) 3 $535,000 $178,333 $1,156 3.94%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $385,000 $385,000 $5,209 2.88%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $285,000 $285,000 $2,243 2.50%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $265,000 $265,000 $2,529 3.75%
GRAND ISLAND, NE (FHA|USDA|VA) 1 $245,000 $245,000 $2,234 2.88%
Hastings, NE (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.75%
Columbus, NE (FHA|USDA|VA) 1 $185,000 $185,000 $1,952 2.75%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,409 2.50%
Kearney, NE (FHA|USDA|VA) 1 $155,000 $155,000 $250 3.38%

Cornhusker Bank's top markets include Lincoln, Omaha, Beatrice, Des Moines, and Phoenix among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 980 $286,940,000 $292,796 $1,402 3.32%

For the 2021 period, Cornhusker Bank's most frequently originated loan type of loans were Conventional, with 980 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 433 $146,525,000 $338,395 $987 3.26%
Home Purchase 348 $96,790,000 $278,132 $1,919 3.52%
Cash Out Refi 164 $40,260,000 $245,488 $1,645 2.91%
Home Improvement 21 $1,025,000 $48,810 $439 4.05%
Other 14 $2,340,000 $167,143 $999 4.03%

For the 2021, Cornhusker Bank's most frequently cited loan purpose of loans were Refi, with 433 originations. The 2nd most popular reason of loans were Home Purchase, with 348 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 433 $118,555,000 $273,799 $1,487 3.08%
15 Year 189 $42,845,000 $226,693 $1,487 2.66%
Other 149 $42,745,000 $286,879 $859 4.20%
5 Year 97 $33,555,000 $345,928 $347 4.04%
20 Year 57 $12,035,000 $211,140 $1,255 3.17%
10 Year 31 $27,415,000 $884,355 $413 3.63%
1 Year 21 $6,235,000 $296,905 $1,143 4.52%
3 Year 3 $3,555,000 $1,185,000 $0 3.94%

For the 2021, Cornhusker Bank's most frequently cited loan length of loans were 30 Year, with 433 originations. The 2nd most popular length of loans were 15 Year, with 189 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 673 $167,885,000 $249,458
$1k-2k 12 $4,700,000 $391,667
$2k-3k 2 $1,120,000 $560,000
$3k-4k 1 $245,000 $245,000

$1,487 of loans were Cornhusker Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 673 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 382 $116,310,000 $304,476
3-4% 297 $110,025,000 $370,455
4-5% 167 $24,225,000 $145,060
<2.5% 109 $33,435,000 $306,743
5-6% 25 $2,945,000 $117,800

During 2021, Cornhusker Bank's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 2.5-3%, with 382 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 339 $50,995,000 $150,428 $1,320 3.39%
$200k-400k 328 $91,450,000 $278,811 $1,489 3.08%
$100,000 or less 159 $10,505,000 $66,069 $736 3.92%
$400k-600k 120 $58,670,000 $488,917 $1,807 2.92%
$1MM+ 17 $62,415,000 $3,671,471 $0 3.68%
$600k-1MM 17 $12,905,000 $759,118 $1,758 3.40%

2021 saw Cornhusker Bank place emphasis on $100k-200k loans with 339 originations, totaling $50,995,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 187 $44,915,000 $240,187 $1,397 3.05%
$75k-100k 135 $27,545,000 $204,037 $1,285 3.20%
$50k-75k 132 $21,430,000 $162,348 $1,445 3.09%
$150k-250k 128 $37,980,000 $296,719 $1,370 3.04%
$250k+ 111 $42,885,000 $386,351 $1,591 2.96%
$50k or less 59 $7,055,000 $119,576 $1,333 3.40%

Cornhusker Bank lent most frequently to those with incomes in the $100k-150k range, with 187 originations. The second most popular income band? $75k-100k, with 135 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 213 $49,435,000 $232,089 $1,352 3.10%
30-36% 143 $35,845,000 $250,664 $1,394 3.08%
<20% 139 $35,885,000 $258,165 $1,300 2.92%
37% 30 $6,330,000 $211,000 $1,423 3.10%
40% 26 $7,010,000 $269,615 $1,553 3.12%
36% 22 $4,340,000 $197,273 $1,562 3.08%
41% 20 $4,620,000 $231,000 $1,569 3.05%
38% 19 $4,185,000 $220,263 $1,318 3.34%
42% 18 $4,090,000 $227,222 $1,504 3.11%
39% 18 $4,950,000 $275,000 $1,373 2.99%
46% 17 $3,805,000 $223,824 $1,658 2.98%
43% 17 $4,395,000 $258,529 $1,848 3.00%
50-60% 14 $4,330,000 $309,286 $1,276 3.48%
44% 13 $3,295,000 $253,462 $1,404 3.06%
48% 12 $3,430,000 $285,833 $1,694 3.15%
45% 11 $2,085,000 $189,545 $1,078 3.18%
47% 9 $2,465,000 $273,889 $1,914 2.81%
49% 7 $1,725,000 $246,429 $1,806 3.18%
>60% 5 $655,000 $131,000 $850 4.46%

Cornhusker Bank lent most frequently to those with DTI ratios of 20-30%, with 213 originations. The next most common DTI ratio? 30-36%, with 143 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 650 $157,370,000 $242,108 $1,333 3.13%
Not applicable 187 $88,615,000 $473,877 $0 4.12%
Not provided 111 $34,545,000 $311,216 $1,862 3.04%
Asian 22 $4,810,000 $218,636 $1,373 3.52%
Asian Indian 3 $705,000 $235,000 $250 2.50%
Black 4 $460,000 $115,000 $1,048 3.85%
Chinese 1 $175,000 $175,000 $1,351 3.00%
Other Asian 1 $155,000 $155,000 $1,385 2.88%
American Indian 1 $105,000 $105,000 $1,271 2.63%

Approval Rates

Total approvals of all applications
97.41%

Cornhusker Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
89.72%

Cornhusker Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 980 $286,940,000 $292,796

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
980 $286,940,000 $292,796

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 99 $17,095,000 $172,677 $1,095 3.46%
40-60% 190 $46,340,000 $243,895 $1,363 3.09%
60-80% 446 $156,150,000 $350,112 $1,430 3.31%
80-100% 196 $63,820,000 $325,612 $1,829 3.34%
Under 20% 49 $3,535,000 $72,143 $322 3.98%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
CARRINGTON MORTGAGE SERVICES, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 11 3.2%
CARRINGTON MORTGAGE SERVICES, LLC Conventional home mortgage Closing on a mortgage 9 2.6%
CARRINGTON MORTGAGE SERVICES, LLC Conventional home mortgage Incorrect information on your report 2 0.6%
CARRINGTON MORTGAGE SERVICES, LLC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 2 0.6%
CARRINGTON MORTGAGE SERVICES, LLC Conventional home mortgage Struggling to pay mortgage 53 15.4%
CARRINGTON MORTGAGE SERVICES, LLC Conventional home mortgage Trouble during payment process 54 15.7%
CARRINGTON MORTGAGE SERVICES, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 18 5.2%
CARRINGTON MORTGAGE SERVICES, LLC FHA mortgage Closing on a mortgage 8 2.3%
CARRINGTON MORTGAGE SERVICES, LLC FHA mortgage Credit monitoring or identity theft protection services 2 0.6%
CARRINGTON MORTGAGE SERVICES, LLC FHA mortgage Incorrect information on your report 9 2.6%
CARRINGTON MORTGAGE SERVICES, LLC FHA mortgage Problem with a credit reporting company's investigation into an existing problem 3 0.9%
CARRINGTON MORTGAGE SERVICES, LLC FHA mortgage Struggling to pay mortgage 37 10.8%
CARRINGTON MORTGAGE SERVICES, LLC FHA mortgage Trouble during payment process 72 20.9%
CARRINGTON MORTGAGE SERVICES, LLC FHA mortgage Unable to get your credit report or credit score 1 0.3%
CARRINGTON MORTGAGE SERVICES, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 0.3%
CARRINGTON MORTGAGE SERVICES, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 0.3%
CARRINGTON MORTGAGE SERVICES, LLC Home equity loan or line of credit (HELOC) Trouble during payment process 3 0.9%
CARRINGTON MORTGAGE SERVICES, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.6%
CARRINGTON MORTGAGE SERVICES, LLC Other type of mortgage Closing on a mortgage 2 0.6%
CARRINGTON MORTGAGE SERVICES, LLC Other type of mortgage Struggling to pay mortgage 7 2.0%
CARRINGTON MORTGAGE SERVICES, LLC Other type of mortgage Trouble during payment process 3 0.9%
CARRINGTON MORTGAGE SERVICES, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 4 1.2%
CARRINGTON MORTGAGE SERVICES, LLC VA mortgage Closing on a mortgage 1 0.3%
CARRINGTON MORTGAGE SERVICES, LLC VA mortgage Incorrect information on your report 5 1.5%
CARRINGTON MORTGAGE SERVICES, LLC VA mortgage Struggling to pay mortgage 11 3.2%
CARRINGTON MORTGAGE SERVICES, LLC VA mortgage Trouble during payment process 23 6.7%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Cornhusker Bank 7200 Van Dorn Street Lincoln, NE 68506 Limited, Drive-thru $2,885
Cornhusker Bank 1101 Cornhusker Highway Lincoln, NE 68521 Full Service B&M $230,498
Cornhusker Bank 11102 Blondo St, Ste 102 Omaha, NE 68164 Full Service B&M $8,344
Cornhusker Bank 5555 South Street Lincoln, NE 68506 Full Service B&M $68,118
Cornhusker Bank 5600 Pioneers Boulevard Lincoln, NE 68506 Limited, Drive-thru $2,479
Cornhusker Bank 5700 Fremont Street Lincoln, NE 68504 Limited, Drive-thru $3,377
Cornhusker Bank 5701 South 34th Street Ste 100 Lincoln, NE 68516 Full Service B&M $47,553
Cornhusker Bank 6100 Apple's Way Lincoln, NE 68516 Full Service B&M $49,510
Cornhusker Bank 8310 O Street Lincoln, NE 68510 Full Service B&M $296,426

For 2021, Cornhusker Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $28,224
Net interest income $25,635
Total noninterest income $7,724
Gross Fiduciary activities income $0
Service charges on deposit accounts $500
Trading account gains and fees $0
Additional Noninterest Income $7,224
Pre-tax net operating income $11,332
Securities gains (or losses, -) $-5
Income before extraordinary items $11,003
Discontinued Operations (Extraordinary gains, net) $1,770
Net income of bank and minority interests $12,773
Minority interest net income $0
Net income $12,773
Sale, conversion, retirement of capital stock, net $0
Net operating income $11,007

Cornhusker Bank's gross interest income from loans was $28,224,000.
Cornhusker Bank's net interest income from loans was $25,635,000.
Cornhusker Bank's fee based income from loans was $500,000.
Cornhusker Bank's net income from loans was $12,773,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,589
Provision for credit losses $495
Total noninterest expense $21,532
Salaries and employee benefits $13,427
Premises and equipment expense $3,759
Additional noninterest expense $4,346
Applicable income taxes $324
Net charge-offs $23
Cash dividends $3,600

Cornhusker Bank's interest expense for loans was $2,589,000.
Cornhusker Bank's payroll and benefits expense were $13,427,000.
Cornhusker Bank's property, plant and equipment expenses $3,759,000.

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 0.0%
Credit card loans 1.2%
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 $718,652
Deposits held in domestic offices $718,652
Deposits by Individuals, partnerships, and corporations $667,992
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $49,170
Deposits by Commercial banks and other depository institutions in U.S. $1,490
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $187,292
Demand deposits $187,292
Nontransaction accounts $531,360
Money market deposit accounts (MMDAs) $343,544
Other savings deposits (excluding MMDAs) $79,594
Total time deposits $108,222
Total time and savings deposits $531,360
Noninterest-bearing deposits $139,703
Interest-bearing deposits $578,949
Retail deposits $682,239
IRAs and Keogh plan accounts $14,185
Brokered deposits $25,655
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $867,559
Cash & Balances due from depository institutions $9,086
Interest-bearing balances $2,867
Total securities $199,192
Federal funds sold & reverse repurchase $0
Net loans and leases $622,593
Loan and leases loss allowance $9,009
Trading account assets $0
Bank premises and fixed assets $21,818
Other real estate owned $0
Goodwill and other intangibles $3,225
All other assets $11,645

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $867,559
Total Liabilities $796,743
Total deposits $718,652
Interest-bearing deposits $578,949
Deposits held in domestic offices $718,652
% insured (estimated) $86
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $76,441
Subordinated debt $0
All other liabilities $1,650

Issued Loan Types

Type Value (in 000's)
Net loans and leases $622,593
Loan and leases loss allowance $9,009
Total loans and leases (domestic) $631,602
All real estate loans $581,244
Real estate loans in domestic offices $581,244
Construction and development loans $57,477
Residential 1-4 family construction $22,390
Other construction, all land development and other land $35,087
Loans secured by nonfarm nonresidential properties $256,309
Nonfarm nonresidential secured by owner-occupied properties $102,975
Commercial real estate & other non-farm, non-residential $153,334
Multifamily residential real estate $81,979
1-4 family residential loans $175,699
Farmland loans $9,780
Loans held in foreign offices $0
Farm loans $70
Commercial and industrial loans $42,876
To non-U.S. addressees $0
Loans to individuals $4,621
Credit card loans $739
Related Plans $267
Consumer Auto Loans $1,396
Other loans to individuals $2,219
All other loans & leases $2,851
Loans to foreign governments and official institutions $0
Other loans $52
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 $521
Non 1-4 family restructured loans & leases $437
Total loans and leases (foreign) $0

CORNHUSKER BANK had $622,593,000 of loans outstanding in 2021. $581,244,000 of loans were in real estate loans. $57,477,000 of loans were in development loans. $81,979,000 of loans were in multifamily mortgage loans. $175,699,000 of loans were in 1-4 family mortgage loans. $70,000 of loans were in farm loans. $739,000 of loans were in credit card loans. $1,396,000 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 277 $79,694 $287,704
Nonfarm, nonresidential loans - <$100k 41 $1,468 $35,805
Nonfarm, nonresidential loans - $100-250k 87 $12,302 $141,402
Nonfarm, nonresidential loans - $250k-1MM 149 $65,924 $442,443
Commercial & Industrial, US addressed loans - <$1MM 399 $30,185 $75,652
Commercial & Industrial, US addressed loans - <$100k 262 $6,148 $23,466
Commercial & Industrial, US addressed loans - $100-250k 76 $6,662 $87,658
Commercial & Industrial, US addressed loans - $250k-1MM 61 $17,375 $284,836
Farmland loans - <$1MM 28 $4,194 $149,786
Farmland loans - <$100k 6 $283 $47,167
Farmland loans - $100-250k 13 $1,548 $119,077
Farmland loans - $250k-1MM 9 $2,363 $262,556
Agriculture operations loans - <$1MM 3 $70 $23,333
Agriculture operations loans - <$100k 3 $70 $23,333