Raccoon Valley Bank Mortgage Rates, Fees & Info

Perry, IA

LEI: 254900S2BHB4ZY0JPI53

Tax ID: 42-0464130

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Raccoon Valley Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Raccoon Valley Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, and Spirit Lake among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Raccoon Valley 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. Raccoon Valley Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    114

    Origination Dollar Volume (All Markets)

    $17,160,000

    Employee count

    45

    Awards

    Raccoon Valley Bank 30 Year Conventional Loans gold Raccoon Valley Bank 30 Year Conventional Loans gold
    Show all (2) awards

    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) 107 $16,265,000 $152,009 $1,292 4.82%
    Outside of Metro Areas 3 $325,000 $108,333 $1,301 4.81%
    AMES, IA (FHA|USDA|VA) 3 $305,000 $101,667 $1,683 4.63%
    Spirit Lake, IA (FHA|USDA|VA) 1 $265,000 $265,000 $0 5.40%
    Raccoon Valley Bank's top markets include Des Moines, Ames, and Spirit Lake among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Raccoon Valley Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Charter Bank
    Similarity Rank: 36
    Raccoon Valley Bank
    Similarity Rank: 96
    Guthrie County State Bank
    Similarity Rank: 166
    Community Choice Credit Union
    Similarity Rank: 187
    Collins Community Credit Union
    Similarity Rank: 273
    Luana Savings Bank
    Similarity Rank: 289
    GREATER IOWA CREDIT UNION
    Similarity Rank: 374
    Fidelity Bank
    Similarity Rank: 428
    Premier Credit Union
    Similarity Rank: 450
    American Trust & Savings Bank
    Similarity Rank: 486

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 113 $17,015,000 $150,575 $1,298 4.82%
    HELOC 1 $145,000 $145,000 n/a 5.25%

    For 2018, Raccoon Valley Bank's most frequently originated type of loan was Conventional, with 113 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 51 $6,405,000 $125,588 $1,523 4.81%
    Cash Out Refi 27 $6,145,000 $227,593 $1,404 4.91%
    Refi 25 $4,145,000 $165,800 $1,561 4.72%
    Other 6 $280,000 $46,667 $304 4.92%
    Home Improvement 5 $185,000 $37,000 $193 4.97%

    For 2018, Raccoon Valley Bank's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 46 $7,540,000 $163,913 $1,593 4.53%
    5 Year 24 $5,670,000 $236,250 $665 5.18%
    20 Year 18 $1,460,000 $81,111 $1,958 4.96%
    Other 12 $800,000 $66,667 $489 5.05%
    10 Year 8 $620,000 $77,500 $301 5.18%
    15 Year 6 $1,070,000 $178,333 $1,316 4.40%

    For 2018, Raccoon Valley Bank's most frequently cited loan duration was 30 Year, with 46 originations. The 2nd most popular length was 5 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 43 $5,715,000 $132,907

    Raccoon Valley Bank's average total fees were $1,593, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 43 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 65 $7,645,000 $117,615
    5-6% 35 $6,755,000 $193,000
    3-4% 13 $2,695,000 $207,308

    During 2018, Raccoon Valley Bank's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 58 $3,080,000 $53,103 $972 5.00%
    $100k-200k 33 $4,845,000 $146,818 $1,758 4.61%
    $200k-400k 20 $5,160,000 $258,000 $1,262 4.76%
    $400k-600k 2 $840,000 $420,000 $1,745 3.81%
    $1MM+ 1 $3,235,000 $3,235,000 $0 5.25%

    2018 saw Raccoon Valley Bank place emphasis on $100,000 or less loans with 58 originations, totaling $3,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 28 $2,620,000 $93,571 $1,471 4.82%
    $50k or less 22 $1,760,000 $80,000 $1,449 4.65%
    $100k-150k 19 $3,285,000 $172,895 $1,090 4.72%
    $75k-100k 15 $1,585,000 $105,667 $1,228 4.76%
    $150k-250k 6 $1,200,000 $200,000 $1,447 4.67%
    $250k+ 2 $450,000 $225,000 $667 4.83%

    Raccoon Valley Bank lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $50k or less, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $4,180,000 $122,941 $1,359 4.66%
    30-36% 19 $2,565,000 $135,000 $1,323 4.52%
    <20% 14 $1,490,000 $106,429 $1,453 4.88%
    41% 4 $770,000 $192,500 $908 4.47%
    48% 3 $595,000 $198,333 $1,372 4.71%
    39% 3 $305,000 $101,667 $935 4.52%
    40% 2 $260,000 $130,000 $1,017 4.19%
    38% 1 $35,000 $35,000 $188 4.90%
    36% 1 $35,000 $35,000 $193 4.90%

    Raccoon Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 97 $14,565,000 $150,155 $1,294 4.75%
    Not applicable 15 $2,285,000 $152,333 $0 5.27%
    Asian 1 $215,000 $215,000 $2,007 4.63%
    Not provided 1 $95,000 $95,000 $849 5.50%

    Approval Rates

    Total approvals of all applications
    95.28%

    Raccoon Valley 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
    93.86%

    Raccoon Valley Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1099.44 1 $95,000 $95,000
    NA 113 $17,065,000 $151,018

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $4,075,000 $815,000
    Single Family (1-4 Units):Site-Built 109 $13,085,000 $120,046

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $865,000 $66,538 $1,190 4.81%
    40-60% 10 $1,420,000 $142,000 $1,203 5.11%
    60-80% 45 $6,925,000 $153,889 $1,797 4.69%
    80-100% 27 $6,925,000 $256,481 $1,425 4.82%
    Under 20% 17 $695,000 $40,882 $403 4.98%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Raccoon Valley Bank 1009 Court Street Adel, IA 50003 Full Service B&M $52,542
    Raccoon Valley Bank 1202 2nd Street Perry, IA 50220 Full Service B&M $146,305
    Raccoon Valley Bank 305 Baker Street Minburn, IA 50167 Full Service B&M $10,516
    Raccoon Valley Bank 590 Sugar Grove Dallas Center, IA 50063 Full Service B&M $33,026

    For 2018, Raccoon Valley Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,533
    Net interest income $8,711
    Total noninterest income $1,034
    Gross Fiduciary activities income $52
    Service charges on deposit accounts $273
    Trading account gains and fees $0
    Additional Noninterest Income $709
    Pre-tax net operating income $3,495
    Securities gains (or losses, -) $-100
    Income before extraordinary items $3,228
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,228
    Minority interest net income $0
    Net income $3,228
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,323

    Raccoon Valley Bank's gross interest income from loans was $10,533,000.
    Raccoon Valley Bank's net interest income from loans was $8,711,000.
    Raccoon Valley Bank's fee based income from loans was $273,000.
    Raccoon Valley Bank's net income from loans was $3,228,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,822
    Provision for credit losses $90
    Total noninterest expense $6,160
    Salaries and employee benefits $3,590
    Premises and equipment expense $925
    Additional noninterest expense $1,645
    Applicable income taxes $167
    Net charge-offs $10
    Cash dividends $1,436

    Raccoon Valley Bank's interest expense for loans was $1,822,000.
    Raccoon Valley Bank's payroll and benefits expense were $3,590,000.
    Raccoon Valley Bank's property, plant and equipment expenses $925,000.

    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 $256,784
    Deposits held in domestic offices $256,784
    Deposits by Individuals, partnerships, and corporations $207,008
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $49,765
    Deposits by Commercial banks and other depository institutions in U.S. $11
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $90,456
    Demand deposits $34,847
    Nontransaction accounts $166,328
    Money market deposit accounts (MMDAs) $52,066
    Other savings deposits (excluding MMDAs) $25,507
    Total time deposits $88,755
    Total time and savings deposits $221,937
    Noninterest-bearing deposits $34,847
    Interest-bearing deposits $221,937
    Retail deposits $217,437
    IRAs and Keogh plan accounts $6,568
    Brokered deposits $7,466
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $280,725
    Cash & Balances due from depository institutions $20,095
    Interest-bearing balances $12,194
    Total securities $60,536
    Federal funds sold & reverse repurchase $0
    Net loans and leases $190,423
    Loan and leases loss allowance $2,252
    Trading account assets $0
    Bank premises and fixed assets $5,432
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,239

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $280,725
    Total Liabilities $260,129
    Total deposits $256,784
    Interest-bearing deposits $221,937
    Deposits held in domestic offices $256,784
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,115
    Subordinated debt $0
    All other liabilities $1,230

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $190,423
    Loan and leases loss allowance $2,252
    Total loans and leases (domestic) $192,675
    All real estate loans $130,254
    Real estate loans in domestic offices $130,254
    Construction and development loans $24,697
    Residential 1-4 family construction $15,469
    Other construction, all land development and other land $9,228
    Loans secured by nonfarm nonresidential properties $49,091
    Nonfarm nonresidential secured by owner-occupied properties $20,252
    Commercial real estate & other non-farm, non-residential $28,839
    Multifamily residential real estate $12,384
    1-4 family residential loans $23,165
    Farmland loans $20,917
    Loans held in foreign offices $0
    Farm loans $24,634
    Commercial and industrial loans $35,484
    To non-U.S. addressees $0
    Loans to individuals $2,303
    Credit card loans $0
    Related Plans $56
    Consumer Auto Loans $1,386
    Other loans to individuals $861
    All other loans & leases $0
    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 $823
    Non 1-4 family restructured loans & leases $823
    Total loans and leases (foreign) $0

    Raccoon Valley Bank had $190,423,000 of loans outstanding in 2018. $130,254,000 of loans were in real estate loans. $24,697,000 of loans were in development loans. $12,384,000 of loans were in multifamily mortgage loans. $23,165,000 of loans were in 1-4 family mortgage loans. $24,634,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,386,000 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 80 $19,457 $243,213
    Nonfarm, nonresidential loans - <$100k 23 $835 $36,304
    Nonfarm, nonresidential loans - $100-250k 22 $2,532 $115,091
    Nonfarm, nonresidential loans - $250k-1MM 35 $16,090 $459,714
    Commercial & Industrial, US addressed loans - <$1MM 311 $22,361 $71,900
    Commercial & Industrial, US addressed loans - <$100k 230 $5,442 $23,661
    Commercial & Industrial, US addressed loans - $100-250k 48 $4,520 $94,167
    Commercial & Industrial, US addressed loans - $250k-1MM 33 $12,399 $375,727
    Farmland loans - <$1MM 53 $8,021 $151,340
    Farmland loans - <$100k 15 $569 $37,933
    Farmland loans - $100-250k 25 $3,537 $141,480
    Farmland loans - $250k-1MM 13 $3,915 $301,154
    Agriculture operations loans - <$1MM 262 $16,967 $64,760
    Agriculture operations loans - <$100k 181 $5,393 $29,796
    Agriculture operations loans - $100-250k 58 $6,581 $113,466
    Agriculture operations loans - $250k-1MM 23 $4,993 $217,087