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 and Refi loans. Raccoon Valley Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Phoenix, and Omaha among others. We have data for 5 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 a below 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

    88

    Origination Dollar Volume (All Markets)

    $20,040,000

    Employee count

    48

    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) 73 $16,925,000 $231,849 $1,492 4.48%
    AMES, IA (FHA|USDA|VA) 11 $2,475,000 $225,000 $1,350 4.50%
    Outside of Metro Areas 2 $270,000 $135,000 $1,682 3.50%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $225,000 $225,000 $0 3.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $145,000 $145,000 $1,721 3.38%
    Raccoon Valley Bank's top markets include Des Moines, Ames, Phoenix, and Omaha among others.

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

    FINANCIAL PLUS Credit Union
    Similarity Rank: 63
    Raccoon Valley Bank
    Similarity Rank: 145
    Community Choice Credit Union
    Similarity Rank: 255
    Luana Savings Bank
    Similarity Rank: 322
    Peoples Bank
    Similarity Rank: 380
    Fidelity Bank
    Similarity Rank: 388
    Premier Credit Union
    Similarity Rank: 574
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 640
    GREATER IOWA CREDIT UNION
    Similarity Rank: 640
    Farmers State Bank
    Similarity Rank: 1008

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 88 $20,040,000 $227,727 $1,480 4.43%

    For 2019, Raccoon Valley Bank's most frequently originated type of loan was Conventional, with 88 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 42 $10,050,000 $239,286 $1,620 4.46%
    Refi 22 $6,090,000 $276,818 $1,332 4.34%
    Cash Out Refi 22 $3,740,000 $170,000 $1,590 4.42%
    Home Improvement 2 $160,000 $80,000 $447 5.00%

    For 2019, Raccoon Valley Bank's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 40 $7,950,000 $198,750 $1,600 4.13%
    5 Year 19 $6,575,000 $346,053 $437 5.13%
    15 Year 9 $1,755,000 $195,000 $1,551 3.52%
    Other 9 $1,215,000 $135,000 $3 4.85%
    20 Year 8 $1,240,000 $155,000 $1,577 4.67%
    10 Year 3 $1,305,000 $435,000 $0 4.92%

    For 2019, Raccoon Valley Bank's most frequently cited loan duration was 30 Year, with 40 originations. The 2nd most popular length was 5 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 38 $7,210,000 $189,737
    $1k-2k 1 $115,000 $115,000
    $2k-3k 1 $225,000 $225,000

    Raccoon Valley Bank's average total fees were $1,600, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 38 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 38 $11,270,000 $296,579
    3-4% 28 $4,900,000 $175,000
    5-6% 18 $2,790,000 $155,000
    2.5-3% 4 $1,080,000 $270,000

    During 2019, Raccoon Valley Bank's average interest rate for loans was 4.13%, while their most frequently originated rate bucket for loans was 4-5%, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 31 $4,495,000 $145,000 $1,600 4.37%
    $200k-400k 26 $7,190,000 $276,538 $1,523 4.18%
    $100,000 or less 22 $1,380,000 $62,727 $1,047 4.69%
    $400k-600k 4 $1,870,000 $467,500 $1,988 4.78%
    $600k-1MM 4 $3,110,000 $777,500 $0 4.69%
    $1MM+ 1 $1,995,000 $1,995,000 $0 4.70%

    2019 saw Raccoon Valley Bank place emphasis on $100k-200k loans with 31 originations, totaling $4,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 18 $2,780,000 $154,444 $1,483 3.98%
    $100k-150k 13 $2,095,000 $161,154 $1,189 4.76%
    $150k-250k 10 $2,280,000 $228,000 $1,481 3.74%
    $50k or less 9 $835,000 $92,778 $1,764 4.37%
    $75k-100k 9 $1,795,000 $199,444 $1,435 4.24%
    $250k+ 3 $1,045,000 $348,333 $1,874 3.75%

    Raccoon Valley Bank lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 21 $3,765,000 $179,286 $1,353 4.42%
    30-36% 15 $2,325,000 $155,000 $1,429 4.05%
    <20% 6 $1,000,000 $166,667 $1,515 3.75%
    40% 4 $690,000 $172,500 $1,681 3.47%
    36% 3 $785,000 $261,667 $1,814 3.92%
    39% 2 $510,000 $255,000 $1,406 3.81%
    37% 2 $530,000 $265,000 $1,581 4.51%
    46% 2 $180,000 $90,000 $0 4.06%
    41% 1 $135,000 $135,000 $1,604 4.25%
    43% 1 $385,000 $385,000 $0 4.88%
    49% 1 $205,000 $205,000 $1,658 4.50%
    38% 1 $145,000 $145,000 $1,773 3.75%

    Raccoon Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 21 originations. The next most common DTI ratio? 30-36%, with 15 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $10,185,000 $172,627 $1,479 4.21%
    Not applicable 24 $8,860,000 $369,167 $0 5.06%
    Not provided 4 $670,000 $167,500 $1,404 4.09%
    Asian 1 $325,000 $325,000 $1,756 3.88%

    Approval Rates

    Total approvals of all applications
    94.44%

    Raccoon Valley Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.36%

    Raccoon Valley Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 88 $20,040,000 $227,727

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $5,620,000 $562,000
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 77 $14,315,000 $185,909

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $955,000 $136,429 $1,318 4.76%
    40-60% 15 $3,395,000 $226,333 $1,387 4.36%
    60-80% 42 $11,730,000 $279,286 $1,564 4.45%
    80-100% 22 $3,870,000 $175,909 $1,604 4.31%
    Under 20% 2 $90,000 $45,000 $3 4.88%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Raccoon Valley Bank 1009 Court Street Adel, IA 50003 Full Service B&M $58,663
    Raccoon Valley Bank 1202 2nd Street Perry, IA 50220 Full Service B&M $151,282
    Raccoon Valley Bank 305 Baker Street Minburn, IA 50167 Full Service B&M $12,764
    Raccoon Valley Bank 590 Sugar Grove Dallas Center, IA 50063 Full Service B&M $37,242

    For 2019, Raccoon Valley Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,071
    Net interest income $9,453
    Total noninterest income $1,177
    Gross Fiduciary activities income $34
    Service charges on deposit accounts $253
    Trading account gains and fees $0
    Additional Noninterest Income $890
    Pre-tax net operating income $3,596
    Securities gains (or losses, -) $121
    Income before extraordinary items $3,544
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,544
    Minority interest net income $0
    Net income $3,544
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,429

    Raccoon Valley Bank's gross interest income from loans was $12,071,000.
    Raccoon Valley Bank's net interest income from loans was $9,453,000.
    Raccoon Valley Bank's fee based income from loans was $253,000.
    Raccoon Valley Bank's net income from loans was $3,544,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,618
    Provision for credit losses $120
    Total noninterest expense $6,914
    Salaries and employee benefits $3,835
    Premises and equipment expense $1,148
    Additional noninterest expense $1,931
    Applicable income taxes $173
    Net charge-offs $0
    Cash dividends $1,728

    Raccoon Valley Bank's interest expense for loans was $2,618,000.
    Raccoon Valley Bank's payroll and benefits expense were $3,835,000.
    Raccoon Valley Bank's property, plant and equipment expenses $1,148,000.

    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 $277,937
    Deposits held in domestic offices $277,937
    Deposits by Individuals, partnerships, and corporations $216,653
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $61,273
    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 $99,669
    Demand deposits $38,030
    Nontransaction accounts $178,268
    Money market deposit accounts (MMDAs) $51,836
    Other savings deposits (excluding MMDAs) $29,316
    Total time deposits $97,117
    Total time and savings deposits $239,907
    Noninterest-bearing deposits $38,030
    Interest-bearing deposits $239,907
    Retail deposits $233,826
    IRAs and Keogh plan accounts $7,053
    Brokered deposits $5,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $304,873
    Cash & Balances due from depository institutions $24,485
    Interest-bearing balances $17,436
    Total securities $62,649
    Federal funds sold & reverse repurchase $0
    Net loans and leases $204,588
    Loan and leases loss allowance $2,372
    Trading account assets $0
    Bank premises and fixed assets $8,799
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,352

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $304,873
    Total Liabilities $280,753
    Total deposits $277,937
    Interest-bearing deposits $239,907
    Deposits held in domestic offices $277,937
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,332
    Subordinated debt $0
    All other liabilities $1,484

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $204,588
    Loan and leases loss allowance $2,372
    Total loans and leases (domestic) $206,960
    All real estate loans $141,968
    Real estate loans in domestic offices $141,968
    Construction and development loans $30,538
    Residential 1-4 family construction $15,468
    Other construction, all land development and other land $15,070
    Loans secured by nonfarm nonresidential properties $44,673
    Nonfarm nonresidential secured by owner-occupied properties $20,510
    Commercial real estate & other non-farm, non-residential $24,163
    Multifamily residential real estate $9,698
    1-4 family residential loans $27,081
    Farmland loans $29,978
    Loans held in foreign offices $0
    Farm loans $27,428
    Commercial and industrial loans $35,647
    To non-U.S. addressees $0
    Loans to individuals $1,917
    Credit card loans $0
    Related Plans $46
    Consumer Auto Loans $1,083
    Other loans to individuals $788
    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 $806
    Non 1-4 family restructured loans & leases $806
    Total loans and leases (foreign) $0

    Raccoon Valley Bank had $204,588,000 of loans outstanding in 2019. $141,968,000 of loans were in real estate loans. $30,538,000 of loans were in development loans. $9,698,000 of loans were in multifamily mortgage loans. $27,081,000 of loans were in 1-4 family mortgage loans. $27,428,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,083,000 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 82 $18,997 $231,671
    Nonfarm, nonresidential loans - <$100k 28 $1,179 $42,107
    Nonfarm, nonresidential loans - $100-250k 20 $2,384 $119,200
    Nonfarm, nonresidential loans - $250k-1MM 34 $15,434 $453,941
    Commercial & Industrial, US addressed loans - <$1MM 343 $25,343 $73,886
    Commercial & Industrial, US addressed loans - <$100k 254 $6,056 $23,843
    Commercial & Industrial, US addressed loans - $100-250k 47 $4,844 $103,064
    Commercial & Industrial, US addressed loans - $250k-1MM 42 $14,443 $343,881
    Farmland loans - <$1MM 68 $10,580 $155,588
    Farmland loans - <$100k 17 $664 $39,059
    Farmland loans - $100-250k 32 $4,102 $128,188
    Farmland loans - $250k-1MM 19 $5,814 $306,000
    Agriculture operations loans - <$1MM 259 $16,129 $62,274
    Agriculture operations loans - <$100k 169 $3,818 $22,592
    Agriculture operations loans - $100-250k 61 $5,820 $95,410
    Agriculture operations loans - $250k-1MM 29 $6,491 $223,828