Frontier Bank Mortgage Rates, Fees & Info

Omaha, NE

LEI: 254900HEPQK96AEXHS12

Tax ID: 47-0098167

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

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


Originations

895

Origination Dollar Volume (All Markets)

$249,445,000

Employee count

124 Show all (9) awards

Relative Rate

Frontier Bank's average 30 year fixed rate mortgage of loans were 2.93%.

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

This yields a difference of -0.22%.

Relative Fees

Frontier Bank's average total fees for a 30 year fixed rate mortgage are $2,398.

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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 275 $88,085,000 $320,309 $2,135 3.24%
LINCOLN, NE (FHA|USDA|VA) 286 $85,360,000 $298,462 $2,160 3.17%
Outside of Metro Areas 161 $23,555,000 $146,304 $1,636 3.60%
Norfolk, NE (FHA|USDA|VA) 84 $13,940,000 $165,952 $2,115 3.29%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 19 $9,145,000 $481,316 $2,621 3.22%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 6 $4,730,000 $788,333 $2,694 3.00%
MANHATTAN, KS (FHA|USDA|VA) 1 $4,325,000 $4,325,000 $0 3.95%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $1,885,000 $1,885,000 $0 3.75%
FORT COLLINS, CO (FHA|USDA|VA) 3 $1,535,000 $511,667 $2,294 3.53%
Columbus, NE (FHA|USDA|VA) 7 $1,505,000 $215,000 $2,052 3.25%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $900,000 $450,000 $3,584 2.63%
Heber, UT (FHA|USDA|VA) 1 $835,000 $835,000 $2,008 3.75%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $810,000 $405,000 $0 3.85%
Beatrice, NE (FHA|USDA|VA) 4 $690,000 $172,500 $2,121 3.59%
Edwards, CO (FHA|USDA|VA) 2 $650,000 $325,000 $1,657 3.31%
Spirit Lake, IA (FHA|USDA|VA) 2 $640,000 $320,000 $2,674 3.38%
GRAND ISLAND, NE (FHA|USDA|VA) 4 $570,000 $142,500 $1,913 2.50%
Bozeman, MT (FHA|USDA|VA) 1 $555,000 $555,000 $0 4.75%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $545,000 $545,000 $3,379 2.75%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $515,000 $515,000 $3,368 2.50%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 2 $510,000 $255,000 $1,873 3.54%
Maryville, MO (FHA|USDA|VA) 3 $495,000 $165,000 $0 4.82%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $485,000 $485,000 $2,507 2.00%
WACO, TX (FHA|USDA|VA) 1 $445,000 $445,000 $6,664 2.38%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $445,000 $445,000 $3,671 2.00%
Kearney, NE (FHA|USDA|VA) 1 $445,000 $445,000 $2,402 2.63%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $415,000 $415,000 $4,195 2.38%
MISSOULA, MT (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.75%
Sevierville, TN (FHA|USDA|VA) 1 $385,000 $385,000 $0 3.75%
North Platte, NE (FHA|USDA|VA) 1 $355,000 $355,000 $168 4.00%
Payson, AZ (FHA|USDA|VA) 1 $345,000 $345,000 $2,659 2.88%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $335,000 $335,000 $2,875 2.88%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $325,000 $325,000 $2,057 2.63%
BEND, OR (FHA|USDA|VA) 1 $305,000 $305,000 $4,673 2.99%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $300,000 $150,000 $0 4.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $295,000 $295,000 $4,136 2.75%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $285,000 $285,000 $2,624 3.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,034 3.63%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $265,000 $265,000 $4,078 2.75%
Key West, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 3.95%
Breckenridge, CO (FHA|USDA|VA) 1 $215,000 $215,000 $2,750 2.75%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,391 3.85%
RAPID CITY, SD (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.95%
Riverton, WY (FHA|USDA|VA) 1 $195,000 $195,000 $2,274 2.63%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $175,000 $175,000 $1,787 2.63%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $115,000 $115,000 $2,889 3.25%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,209 3.00%
Fremont, NE (FHA|USDA|VA) 1 $85,000 $85,000 $1,813 3.13%

Frontier Bank's top markets include Omaha, Lincoln, Norfolk, Phoenix, and Denver among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 877 $244,615,000 $278,922 $2,040 3.31%
VA 13 $3,935,000 $302,692 $4,218 2.42%
USDA 5 $895,000 $179,000 $4,255 2.80%

For the 2021 period, Frontier Bank's most frequently originated loan type of loans were Conventional, with 877 originations. Their 2nd most popular type is VA, with 13 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 412 $115,770,000 $280,995 $2,600 3.41%
Refi 329 $98,045,000 $298,009 $1,700 3.21%
Cash Out Refi 106 $25,680,000 $242,264 $2,143 2.85%
Other 36 $9,150,000 $254,167 $1,611 3.52%
Home Improvement 12 $800,000 $66,667 $376 4.72%

For the 2021, Frontier Bank's most frequently cited loan purpose of loans were Home Purchase, with 412 originations. The 2nd most popular reason of loans were Refi, with 329 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 404 $106,410,000 $263,391 $2,398 2.93%
Other 150 $37,750,000 $251,667 $1,102 4.27%
15 Year 136 $32,640,000 $240,000 $2,106 2.38%
5 Year 94 $38,890,000 $413,723 $300 4.09%
1 Year 54 $11,250,000 $208,333 $2,064 4.17%
10 Year 28 $15,780,000 $563,571 $2,151 3.46%
20 Year 24 $5,960,000 $248,333 $2,035 2.87%
3 Year 5 $765,000 $153,000 $1,122 4.16%

For the 2021, Frontier Bank's most frequently cited loan length of loans were 30 Year, with 404 originations. The 2nd most popular length of loans were Other, with 150 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 673 $165,275,000 $245,579
$1k-2k 22 $5,300,000 $240,909
$2k-3k 4 $1,250,000 $312,500
$3k-4k 2 $890,000 $445,000
$5k+ 2 $720,000 $360,000

$2,398 of loans were Frontier 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
3-4% 307 $107,285,000 $349,463
2.5-3% 270 $69,920,000 $258,963
<2.5% 180 $47,410,000 $263,389
4-5% 115 $22,485,000 $195,522
5-6% 14 $1,480,000 $105,714
6-7% 8 $540,000 $67,500

During 2021, Frontier Bank's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were 3-4%, with 307 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 323 $91,385,000 $282,926 $2,320 3.07%
$100k-200k 299 $44,235,000 $147,943 $1,919 3.29%
$100,000 or less 131 $7,835,000 $59,809 $1,121 3.93%
$400k-600k 109 $52,675,000 $483,257 $2,782 2.95%
$600k-1MM 17 $12,385,000 $728,529 $2,002 3.98%
$1MM+ 16 $40,930,000 $2,558,125 $4,331 3.88%

2021 saw Frontier Bank place emphasis on $200k-400k loans with 323 originations, totaling $91,385,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 173 $42,735,000 $247,023 $2,019 3.03%
$250k+ 139 $59,075,000 $425,000 $2,112 3.30%
$150k-250k 126 $37,330,000 $296,270 $2,436 2.94%
$75k-100k 114 $21,930,000 $192,368 $2,006 3.13%
$50k-75k 110 $19,170,000 $174,273 $2,147 3.28%
$50k or less 74 $8,490,000 $114,730 $1,722 3.44%

Frontier Bank lent most frequently to those with incomes in the $100k-150k range, with 173 originations. The second most popular income band? $250k+, with 139 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 213 $50,755,000 $238,286 $2,004 3.09%
30-36% 162 $39,670,000 $244,877 $2,147 3.09%
<20% 126 $28,320,000 $224,762 $1,812 3.26%
40% 31 $10,505,000 $338,871 $2,294 3.01%
39% 25 $5,265,000 $210,600 $2,198 3.18%
38% 23 $6,635,000 $288,478 $2,330 3.31%
43% 22 $5,270,000 $239,545 $2,090 2.81%
37% 22 $5,790,000 $263,182 $2,262 3.38%
36% 19 $4,955,000 $260,789 $2,410 2.92%
41% 18 $4,190,000 $232,778 $2,190 3.36%
44% 16 $4,210,000 $263,125 $2,720 2.88%
42% 12 $2,770,000 $230,833 $2,417 3.22%
45% 12 $3,170,000 $264,167 $2,284 3.10%
46% 11 $2,775,000 $252,273 $2,148 2.93%
49% 8 $1,960,000 $245,000 $3,823 2.78%
47% 6 $1,330,000 $221,667 $1,918 3.20%
48% 5 $1,045,000 $209,000 $1,829 3.16%
>60% 4 $1,200,000 $300,000 $485 4.29%
50-60% 1 $445,000 $445,000 $923 4.45%

Frontier Bank lent most frequently to those with DTI ratios of 20-30%, with 213 originations. The next most common DTI ratio? 30-36%, with 162 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 641 $160,915,000 $251,037 $2,081 3.18%
Not applicable 134 $54,420,000 $406,119 $0 4.03%
Not provided 94 $28,470,000 $302,872 $2,143 3.06%
Black 10 $2,380,000 $238,000 $2,463 3.03%
Asian 9 $2,015,000 $223,889 $2,233 2.85%
American Indian 4 $570,000 $142,500 $2,299 3.93%
Other Asian 2 $410,000 $205,000 $2,121 2.81%
Vietnamese 1 $265,000 $265,000 $1,533 3.13%

Approval Rates

Total approvals of all applications
97.04%

Frontier 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
96.71%

Frontier Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
NA 895 $249,445,000 $278,709

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
895 $249,445,000 $278,709

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 72 $23,350,000 $324,306 $1,552 3.32%
40-60% 138 $36,070,000 $261,377 $2,130 2.99%
60-80% 436 $118,580,000 $271,972 $2,163 3.29%
80-100% 215 $65,565,000 $304,953 $2,336 3.30%
Over 100% 8 $2,820,000 $352,500 $0 4.67%
Under 20% 25 $2,735,000 $109,400 $368 4.35%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Fairway Independent Mortgage Corporation Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 11 22.9%
Fairway Independent Mortgage Corporation Conventional home mortgage Closing on a mortgage 3 6.3%
Fairway Independent Mortgage Corporation Conventional home mortgage Struggling to pay mortgage 3 6.3%
Fairway Independent Mortgage Corporation Conventional home mortgage Trouble during payment process 11 22.9%
Fairway Independent Mortgage Corporation FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 4.2%
Fairway Independent Mortgage Corporation FHA mortgage Closing on a mortgage 3 6.3%
Fairway Independent Mortgage Corporation FHA mortgage Struggling to pay mortgage 1 2.1%
Fairway Independent Mortgage Corporation FHA mortgage Trouble during payment process 2 4.2%
Fairway Independent Mortgage Corporation Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.1%
Fairway Independent Mortgage Corporation Other type of mortgage Closing on a mortgage 3 6.3%
Fairway Independent Mortgage Corporation Other type of mortgage Struggling to pay mortgage 1 2.1%
Fairway Independent Mortgage Corporation Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.1%
Fairway Independent Mortgage Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 4.2%
Fairway Independent Mortgage Corporation VA mortgage Closing on a mortgage 1 2.1%
Fairway Independent Mortgage Corporation VA mortgage Trouble during payment process 3 6.3%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Frontier Bank 13333 California St, Ste 100 Omaha, NE 68154 Full Service B&M $278,148
Frontier Bank 13333 California St, Ste. 100 Omaha, NE 68154 Limited, Administrative $0
Frontier Bank 1616 Harlan Street Falls City, NE 68355 Full Service B&M $114,896
Frontier Bank 217 North Main Stella, NE 68442 Full Service B&M $25,250
Frontier Bank 222 Main Street Pender, NE 68047 Full Service B&M $143,318
Frontier Bank 301 South Main Street Madison, NE 68748 Full Service B&M $77,340
Frontier Bank 6940 O Street Lincoln, NE 68510 Full Service B&M $37,778
Frontier Bank 8380 Glynoaks Drive Lincoln, NE 68506 Full Service B&M $192,170
Frontier Bank 1106 Benjamin Avenue, Suite 100 Norfolk, NE 68701 Full Service B&M $20,765

For 2021, Frontier Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $42,211
Net interest income $34,010
Total noninterest income $4,709
Gross Fiduciary activities income $0
Service charges on deposit accounts $221
Trading account gains and fees $0
Additional Noninterest Income $4,488
Pre-tax net operating income $17,380
Securities gains (or losses, -) $-61
Income before extraordinary items $16,981
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $16,981
Minority interest net income $0
Net income $16,981
Sale, conversion, retirement of capital stock, net $0
Net operating income $17,040

Frontier Bank's gross interest income from loans was $42,211,000.
Frontier Bank's net interest income from loans was $34,010,000.
Frontier Bank's fee based income from loans was $221,000.
Frontier Bank's net income from loans was $16,981,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $8,201
Provision for credit losses $1,150
Total noninterest expense $20,189
Salaries and employee benefits $12,897
Premises and equipment expense $2,825
Additional noninterest expense $4,467
Applicable income taxes $338
Net charge-offs $601
Cash dividends $12,286

Frontier Bank's interest expense for loans was $8,201,000.
Frontier Bank's payroll and benefits expense were $12,897,000.
Frontier Bank's property, plant and equipment expenses $2,825,000.

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

Deposits

Type Value (in 000's)
Total deposits $906,550
Deposits held in domestic offices $906,550
Deposits by Individuals, partnerships, and corporations $756,109
Deposits by U.S. Government $10,053
Deposits by States and political subdivisions in the U.S. $100,032
Deposits by Commercial banks and other depository institutions in U.S. $40,355
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $339,240
Demand deposits $217,482
Nontransaction accounts $567,309
Money market deposit accounts (MMDAs) $275,365
Other savings deposits (excluding MMDAs) $54,864
Total time deposits $237,080
Total time and savings deposits $689,067
Noninterest-bearing deposits $166,048
Interest-bearing deposits $740,502
Retail deposits $811,338
IRAs and Keogh plan accounts $24,661
Brokered deposits $53,344
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,106,372
Cash & Balances due from depository institutions $12,120
Interest-bearing balances $8,682
Total securities $128,789
Federal funds sold & reverse repurchase $0
Net loans and leases $932,704
Loan and leases loss allowance $10,424
Trading account assets $0
Bank premises and fixed assets $4,138
Other real estate owned $0
Goodwill and other intangibles $15,213
All other assets $13,408

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,106,372
Total Liabilities $994,673
Total deposits $906,550
Interest-bearing deposits $740,502
Deposits held in domestic offices $906,550
% insured (estimated) $79
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $85,377
Subordinated debt $0
All other liabilities $2,746

Issued Loan Types

Type Value (in 000's)
Net loans and leases $932,704
Loan and leases loss allowance $10,424
Total loans and leases (domestic) $943,128
All real estate loans $723,178
Real estate loans in domestic offices $723,178
Construction and development loans $99,193
Residential 1-4 family construction $43,083
Other construction, all land development and other land $56,110
Loans secured by nonfarm nonresidential properties $232,652
Nonfarm nonresidential secured by owner-occupied properties $85,889
Commercial real estate & other non-farm, non-residential $146,763
Multifamily residential real estate $45,540
1-4 family residential loans $205,638
Farmland loans $140,155
Loans held in foreign offices $0
Farm loans $71,610
Commercial and industrial loans $134,095
To non-U.S. addressees $0
Loans to individuals $11,607
Credit card loans $0
Related Plans $3,599
Consumer Auto Loans $3,179
Other loans to individuals $4,829
All other loans & leases $2,638
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 $2,948
Non 1-4 family restructured loans & leases $2,948
Total loans and leases (foreign) $0

Frontier Bank had $932,704,000 of loans outstanding in 2021. $723,178,000 of loans were in real estate loans. $99,193,000 of loans were in development loans. $45,540,000 of loans were in multifamily mortgage loans. $205,638,000 of loans were in 1-4 family mortgage loans. $71,610,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,179,000 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 202 $53,164 $263,188
Nonfarm, nonresidential loans - <$100k 44 $1,664 $37,818
Nonfarm, nonresidential loans - $100-250k 53 $8,105 $152,925
Nonfarm, nonresidential loans - $250k-1MM 105 $43,395 $413,286
Commercial & Industrial, US addressed loans - <$1MM 699 $58,492 $83,680
Commercial & Industrial, US addressed loans - <$100k 461 $10,618 $23,033
Commercial & Industrial, US addressed loans - $100-250k 114 $11,166 $97,947
Commercial & Industrial, US addressed loans - $250k-1MM 124 $36,708 $296,032
Farmland loans - <$1MM 315 $44,991 $142,829
Farmland loans - <$100k 106 $3,773 $35,594
Farmland loans - $100-250k 104 $12,940 $124,423
Farmland loans - $250k-1MM 105 $28,278 $269,314
Agriculture operations loans - <$1MM 648 $22,320 $34,444
Agriculture operations loans - <$100k 461 $6,100 $13,232
Agriculture operations loans - $100-250k 114 $7,274 $63,807
Agriculture operations loans - $250k-1MM 73 $8,946 $122,548