Denver Savings Bank Mortgage Rates, Fees & Info

Denver, IA

LEI: 254900JG0TE6ZVYQ7857

Tax ID: 42-0213720

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

Review & Overview

Denver Savings Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Denver Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Waterloo, San Diego, Denver, Forest City, and Roanoke Rapids among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Denver Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

101

Origination Dollar Volume (All Markets)

$18,355,000

Employee count

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
WATERLOO-CEDAR FALLS, IA (FHA\|USDA\|VA)	76	$11,920,000	$156,842	$0	0.00%
Outside of Metro Areas	11	$1,705,000	$155,000	$0	0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA\|USDA\|VA)	3	$1,565,000	$521,667	$0	0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	2	$1,160,000	$580,000	$0	0.00%
Forest City, NC (FHA\|USDA\|VA)	2	$530,000	$265,000	$0	0.00%
Roanoke Rapids, NC (FHA\|USDA\|VA)	1	$415,000	$415,000	$0	0.00%
DES MOINES-WEST DES MOINES, IA (FHA\|USDA\|VA)	2	$400,000	$200,000	$0	0.00%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	1	$275,000	$275,000	$0	0.00%
Austin, MN (FHA\|USDA\|VA)	1	$225,000	$225,000	$0	0.00%
THE VILLAGES, FL (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	0.00%

Denver Savings Bank's top markets include Waterloo, San Diego, Denver, Forest City, and Roanoke Rapids among others.

Their top states include:

Iowa (FHA|USDA|VA)

California (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Massachusetts (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	101	$18,355,000	$181,733	$0	0.00%

For 2019, Denver Savings Bank's most frequently originated type of loan was Conventional, with 101 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	42	$8,950,000	$213,095	$0	0.00%
Home Purchase	37	$5,455,000	$147,432	$0	0.00%
Cash Out Refi	16	$3,770,000	$235,625	$0	0.00%
Home Improvement	4	$100,000	$25,000	$0	0.00%
Other	2	$80,000	$40,000	$0	0.00%

For 2019, Denver Savings Bank's most frequently cited loan purpose was Refi, with 42 originations. The 2nd most popular reason was Home Purchase, with 37 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	101	$18,355,000	$181,733	$0	0.00%

For 2019, Denver Savings Bank's most frequently cited loan duration was Other, with 101 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	43	$2,235,000	$51,977	$0	0.00%
$200k-400k	27	$7,565,000	$280,185	$0	0.00%
$100k-200k	22	$2,930,000	$133,182	$0	0.00%
$400k-600k	4	$1,970,000	$492,500	$0	0.00%
$600k-1MM	4	$2,550,000	$637,500	$0	0.00%
$1MM+	1	$1,105,000	$1,105,000	$0	0.00%

2019 saw Denver Savings Bank place emphasis on $100,000 or less loans with 43 originations, totaling $2,235,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	20	$2,850,000	$142,500	$0	0.00%
$75k-100k	20	$2,550,000	$127,500	$0	0.00%
$150k-250k	18	$4,640,000	$257,778	$0	0.00%
$50k or less	14	$1,120,000	$80,000	$0	0.00%
$50k-75k	9	$1,115,000	$123,889	$0	0.00%
$250k+	6	$1,760,000	$293,333	$0	0.00%

Denver Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $75k-100k, with 20 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	101	$18,355,000	$181,733	$0	0.00%

Denver Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 101 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	85	$13,715,000	$161,353	$0	0.00%
Not applicable	10	$4,020,000	$402,000	$0	0.00%
Asian	3	$415,000	$138,333	$0	0.00%
Black	1	$125,000	$125,000	$0	0.00%
Not provided	2	$80,000	$40,000	$0	0.00%

Approval Rates

Total approvals of all applications
100.00%

Denver Savings 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
97.03%

Denver Savings 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
Exempt	101	$18,355,000	$181,733

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	7	$3,275,000	$467,857
Single Family (1-4 Units):Site-Built	94	$15,080,000	$160,426

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Denver Savings Bank	1022 Skyler Street Denver, IA 50622	Full Service Retail	$15,060
Denver Savings Bank	121 South State Street Denver, IA 50622	Full Service B&M	$136,961

For 2019, Denver Savings Bank had 2 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$7,489
Net interest income	$4,813
Total noninterest income	$461
Gross Fiduciary activities income	$24
Service charges on deposit accounts	$79
Trading account gains and fees	$0
Additional Noninterest Income	$358
Pre-tax net operating income	$1,498
Securities gains (or losses, -)	$-24
Income before extraordinary items	$1,260
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$1,260
Minority interest net income	$0
Net income	$1,260
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$1,280

Denver Savings Bank's gross interest income from loans was $7,489,000.
Denver Savings Bank's net interest income from loans was $4,813,000.
Denver Savings Bank's fee based income from loans was $79,000.
Denver Savings Bank's net income from loans was $1,260,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,676
Provision for credit losses	$200
Total noninterest expense	$3,576
Salaries and employee benefits	$2,602
Premises and equipment expense	$169
Additional noninterest expense	$805
Applicable income taxes	$214
Net charge-offs	$90
Cash dividends	$409

Denver Savings Bank's interest expense for loans was $2,676,000.
Denver Savings Bank's payroll and benefits expense were $2,602,000.
Denver Savings Bank's property, plant and equipment expenses $169,000.

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	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$142,922
Deposits held in domestic offices	$142,922
Deposits by Individuals, partnerships, and corporations	$128,728
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$14,194
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	$26,552
Demand deposits	$14,322
Nontransaction accounts	$116,370
Money market deposit accounts (MMDAs)	$17,197
Other savings deposits (excluding MMDAs)	$17,296
Total time deposits	$81,877
Total time and savings deposits	$128,600
Noninterest-bearing deposits	$14,331
Interest-bearing deposits	$128,591
Retail deposits	$113,790
IRAs and Keogh plan accounts	$5,775
Brokered deposits	$19,660
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$175,440
Cash & Balances due from depository institutions	$3,253
Interest-bearing balances	$1,210
Total securities	$34,007
Federal funds sold & reverse repurchase	$530
Net loans and leases	$128,438
Loan and leases loss allowance	$1,389
Trading account assets	$0
Bank premises and fixed assets	$1,207
Other real estate owned	$60
Goodwill and other intangibles	$1,312
All other assets	$6,633

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$175,440
Total Liabilities	$156,726
Total deposits	$142,922
Interest-bearing deposits	$128,591
Deposits held in domestic offices	$142,922
% insured (estimated)	$76
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$12,750
Subordinated debt	$0
All other liabilities	$1,054

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$128,438
Loan and leases loss allowance	$1,389
Total loans and leases (domestic)	$129,827
All real estate loans	$99,621
Real estate loans in domestic offices	$99,621
Construction and development loans	$4,689
Residential 1-4 family construction	$522
Other construction, all land development and other land	$4,167
Loans secured by nonfarm nonresidential properties	$50,162
Nonfarm nonresidential secured by owner-occupied properties	$14,329
Commercial real estate & other non-farm, non-residential	$35,833
Multifamily residential real estate	$4,008
1-4 family residential loans	$28,678
Farmland loans	$12,084
Loans held in foreign offices	$0
Farm loans	$2,760
Commercial and industrial loans	$24,807
To non-U.S. addressees	$0
Loans to individuals	$2,490
Credit card loans	$0
Related Plans	$141
Consumer Auto Loans	$1,645
Other loans to individuals	$704
All other loans & leases	$149
Loans to foreign governments and official institutions	$0
Other loans	$31
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

Denver Savings Bank had $128,438,000 of loans outstanding in 2019. $99,621,000 of loans were in real estate loans. $4,689,000 of loans were in development loans. $4,008,000 of loans were in multifamily mortgage loans. $28,678,000 of loans were in 1-4 family mortgage loans. $2,760,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,645,000 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	85	$21,786	$256,306
Nonfarm, nonresidential loans - <$100k	25	$1,101	$44,040
Nonfarm, nonresidential loans - $100-250k	28	$3,843	$137,250
Nonfarm, nonresidential loans - $250k-1MM	32	$16,842	$526,313
Commercial & Industrial, US addressed loans - <$1MM	168	$14,538	$86,536
Commercial & Industrial, US addressed loans - <$100k	99	$3,315	$33,485
Commercial & Industrial, US addressed loans - $100-250k	51	$5,836	$114,431
Commercial & Industrial, US addressed loans - $250k-1MM	18	$5,387	$299,278
Farmland loans - <$1MM	40	$5,550	$138,750
Farmland loans - <$100k	15	$440	$29,333
Farmland loans - $100-250k	12	$1,181	$98,417
Farmland loans - $250k-1MM	13	$3,929	$302,231
Agriculture operations loans - <$1MM	64	$2,183	$34,109
Agriculture operations loans - <$100k	56	$988	$17,643
Agriculture operations loans - $100-250k	6	$890	$148,333
Agriculture operations loans - $250k-1MM	2	$305	$152,500