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 Refi and Cash Out Refi loans. Raccoon Valley Bank has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Cedar Rapids, Davenport, and Washington among others. We have data for 23 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

    542

    Origination Dollar Volume (All Markets)

    $113,780,000

    Employee count

    46

    Awards

    Raccoon Valley Bank 30 Year Conventional Loans silver Raccoon Valley Bank 30 Year Conventional Loans gold Raccoon Valley Bank 30 Year Conventional Loans gold Raccoon Valley Bank 30 Year Conventional Loans gold
    Show all (4) 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) 443 $89,985,000 $203,126 $1,621 3.02%
    AMES, IA (FHA|USDA|VA) 26 $7,290,000 $280,385 $1,660 3.00%
    Outside of Metro Areas 15 $3,625,000 $241,667 $2,271 2.63%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 10 $2,500,000 $250,000 $1,684 2.76%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 7 $1,365,000 $195,000 $1,633 2.86%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4 $1,300,000 $325,000 $2,821 2.69%
    Mason City, IA (FHA|USDA|VA) 4 $1,280,000 $320,000 $2,041 2.76%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 5 $1,155,000 $231,000 $1,929 2.98%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 4 $920,000 $230,000 $1,885 2.88%
    IOWA CITY, IA (FHA|USDA|VA) 4 $840,000 $210,000 $1,580 3.05%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $590,000 $295,000 $2,775 3.00%
    Pella, IA (FHA|USDA|VA) 2 $530,000 $265,000 $2,944 2.81%
    Fort Dodge, IA (FHA|USDA|VA) 3 $455,000 $151,667 $1,461 2.42%
    Muscatine, IA (FHA|USDA|VA) 2 $330,000 $165,000 $1,775 2.50%
    Spirit Lake, IA (FHA|USDA|VA) 2 $270,000 $135,000 $1,694 2.75%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 2 $270,000 $135,000 $1,551 2.75%
    Clinton, IA (FHA|USDA|VA) 1 $245,000 $245,000 $2,009 2.63%
    Fairfield, IA (FHA|USDA|VA) 1 $205,000 $205,000 $1,759 2.38%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,062 3.25%
    Fairmont, MN (FHA|USDA|VA) 1 $145,000 $145,000 $2,572 3.13%
    APPLETON, WI (FHA|USDA|VA) 1 $145,000 $145,000 $1,610 3.13%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $95,000 $95,000 $2,283 3.25%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $85,000 $85,000 $1,933 2.88%
    Raccoon Valley Bank's top markets include Des Moines, Ames, Cedar Rapids, Davenport, and Washington among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Missouri (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: 172
    GREATER IOWA CREDIT UNION
    Similarity Rank: 276
    Fidelity Bank
    Similarity Rank: 387
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 442
    Premier Credit Union
    Similarity Rank: 588
    MEMBERS1st Community Credit Union
    Similarity Rank: 749
    Raccoon Valley Bank
    Similarity Rank: 828
    Luana Savings Bank
    Similarity Rank: 1248
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 1470
    Bank Iowa
    Similarity Rank: 1512

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 542 $113,780,000 $209,926 $1,681 2.98%

    For 2020, Raccoon Valley Bank's most frequently originated type of loan was Conventional, with 542 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 299 $65,915,000 $220,452 $1,582 2.87%
    Cash Out Refi 148 $31,720,000 $214,324 $1,769 2.94%
    Home Purchase 95 $16,145,000 $169,947 $1,910 3.40%

    For 2020, Raccoon Valley Bank's most frequently cited loan purpose was Refi, with 299 originations. The 2nd most popular reason was Cash Out Refi, with 148 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 269 $64,225,000 $238,755 $1,723 2.91%
    15 Year 168 $33,640,000 $200,238 $1,639 2.54%
    Other 34 $4,670,000 $137,353 $154 4.27%
    20 Year 31 $6,745,000 $217,581 $1,683 2.92%
    5 Year 25 $2,665,000 $106,600 $0 4.41%
    10 Year 15 $1,835,000 $122,333 $0 4.03%

    For 2020, Raccoon Valley Bank's most frequently cited loan duration was 30 Year, with 269 originations. The 2nd most popular length was 15 Year, with 168 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 423 $92,395,000 $218,428
    $1k-2k 23 $5,075,000 $220,652
    $2k-3k 9 $2,085,000 $231,667
    $3k-4k 3 $855,000 $285,000

    Raccoon Valley Bank's average total fees were $1,723, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 423 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 230 $54,320,000 $236,174
    <2.5% 145 $29,995,000 $206,862
    3-4% 114 $24,630,000 $216,053
    4-5% 53 $4,835,000 $91,226

    During 2020, Raccoon Valley Bank's average interest rate for loans was 2.91%, while their most frequently originated rate bucket for loans was 2.5-3%, with 230 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 218 $59,190,000 $271,514 $1,686 2.78%
    $100k-200k 190 $28,850,000 $151,842 $1,636 2.93%
    $100,000 or less 96 $6,410,000 $66,771 $1,644 3.56%
    $400k-600k 33 $15,705,000 $475,909 $1,951 2.82%
    $600k-1MM 5 $3,625,000 $725,000 $0 3.94%

    2020 saw Raccoon Valley Bank place emphasis on $200k-400k loans with 218 originations, totaling $59,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 143 $32,815,000 $229,476 $1,664 2.75%
    $150k-250k 96 $26,720,000 $278,333 $1,743 2.74%
    $75k-100k 85 $16,935,000 $199,235 $1,632 2.84%
    $50k-75k 75 $11,615,000 $154,867 $1,716 2.79%
    $250k+ 34 $10,920,000 $321,176 $1,678 2.78%
    $50k or less 33 $3,405,000 $103,182 $1,619 2.85%

    Raccoon Valley Bank lent most frequently to those with incomes in the $100k-150k range, with 143 originations. The second most popular income band? $150k-250k, with 96 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 57 $12,965,000 $227,456 $1,730 2.79%
    <20% 39 $8,425,000 $216,026 $1,699 2.93%
    30-36% 18 $3,900,000 $216,667 $1,630 2.90%
    36% 5 $1,265,000 $253,000 $1,815 2.85%
    40% 4 $900,000 $225,000 $1,439 2.97%
    37% 4 $980,000 $245,000 $1,710 2.88%
    41% 3 $455,000 $151,667 $1,609 2.54%
    38% 3 $795,000 $265,000 $1,716 3.17%
    39% 3 $385,000 $128,333 $1,168 3.88%
    42% 3 $615,000 $205,000 $1,411 2.63%
    43% 3 $365,000 $121,667 $1,814 2.71%
    49% 3 $1,005,000 $335,000 $1,616 3.17%
    47% 2 $720,000 $360,000 $1,158 2.63%
    44% 2 $370,000 $185,000 $1,654 2.56%
    46% 1 $195,000 $195,000 $1,572 3.22%
    >60% 1 $415,000 $415,000 $5,426 3.19%
    50-60% 1 $375,000 $375,000 $1,756 2.13%

    Raccoon Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? <20%, with 39 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 426 $92,470,000 $217,066 $1,685 2.82%
    Not applicable 67 $9,485,000 $141,567 $0 4.23%
    Asian 31 $7,985,000 $257,581 $1,613 2.67%
    Not provided 18 $3,840,000 $213,333 $1,691 2.73%

    Approval Rates

    Total approvals of all applications
    95.87%

    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
    93.54%

    Raccoon Valley Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 542 $113,780,000 $209,926

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $475,000 $475,000
    Single Family (1-4 Units):Site-Built 541 $113,305,000 $209,436

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $3,425,000 $126,852 $1,681 2.87%
    40-60% 130 $24,980,000 $192,154 $1,595 3.02%
    60-80% 268 $61,100,000 $227,985 $1,695 2.94%
    80-100% 101 $22,875,000 $226,485 $1,762 2.90%
    Over 100% 2 $480,000 $240,000 $2,678 2.56%
    Under 20% 14 $920,000 $65,714 $154 4.36%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Raccoon Valley Bank 1009 Court Street Adel, IA 50003 Full Service B&M $61,493
    Raccoon Valley Bank 1051 Ne Gateway Drive Grimes, IA 50111 Full Service B&M $11,892
    Raccoon Valley Bank 1202 2nd Street Perry, IA 50220 Full Service B&M $158,551
    Raccoon Valley Bank 305 Baker Street Minburn, IA 50167 Full Service B&M $13,941
    Raccoon Valley Bank 590 Sugar Grove Dallas Center, IA 50063 Full Service B&M $42,995

    For 2020, Raccoon Valley Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,819
    Net interest income $10,511
    Total noninterest income $3,843
    Gross Fiduciary activities income $34
    Service charges on deposit accounts $195
    Trading account gains and fees $0
    Additional Noninterest Income $3,614
    Pre-tax net operating income $5,112
    Securities gains (or losses, -) $243
    Income before extraordinary items $5,077
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,077
    Minority interest net income $0
    Net income $5,077
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,846

    Raccoon Valley Bank's gross interest income from loans was $12,819,000.
    Raccoon Valley Bank's net interest income from loans was $10,511,000.
    Raccoon Valley Bank's fee based income from loans was $195,000.
    Raccoon Valley Bank's net income from loans was $5,077,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,308
    Provision for credit losses $780
    Total noninterest expense $8,462
    Salaries and employee benefits $4,169
    Premises and equipment expense $1,495
    Additional noninterest expense $2,798
    Applicable income taxes $278
    Net charge-offs $2
    Cash dividends $1,732

    Raccoon Valley Bank's interest expense for loans was $2,308,000.
    Raccoon Valley Bank's payroll and benefits expense were $4,169,000.
    Raccoon Valley Bank's property, plant and equipment expenses $1,495,000.

    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 $307,829
    Deposits held in domestic offices $307,829
    Deposits by Individuals, partnerships, and corporations $259,054
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $48,764
    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 $130,539
    Demand deposits $65,538
    Nontransaction accounts $177,290
    Money market deposit accounts (MMDAs) $57,555
    Other savings deposits (excluding MMDAs) $35,738
    Total time deposits $83,995
    Total time and savings deposits $242,291
    Noninterest-bearing deposits $65,538
    Interest-bearing deposits $242,291
    Retail deposits $273,263
    IRAs and Keogh plan accounts $6,955
    Brokered deposits $5,579
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $343,525
    Cash & Balances due from depository institutions $37,985
    Interest-bearing balances $32,995
    Total securities $53,971
    Federal funds sold & reverse repurchase $0
    Net loans and leases $239,129
    Loan and leases loss allowance $3,150
    Trading account assets $0
    Bank premises and fixed assets $8,417
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,023

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $343,525
    Total Liabilities $313,106
    Total deposits $307,829
    Interest-bearing deposits $242,291
    Deposits held in domestic offices $307,829
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,500
    Subordinated debt $0
    All other liabilities $1,777

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $239,129
    Loan and leases loss allowance $3,150
    Total loans and leases (domestic) $242,279
    All real estate loans $171,395
    Real estate loans in domestic offices $171,395
    Construction and development loans $33,393
    Residential 1-4 family construction $18,684
    Other construction, all land development and other land $14,709
    Loans secured by nonfarm nonresidential properties $67,025
    Nonfarm nonresidential secured by owner-occupied properties $31,202
    Commercial real estate & other non-farm, non-residential $35,823
    Multifamily residential real estate $11,899
    1-4 family residential loans $31,858
    Farmland loans $27,220
    Loans held in foreign offices $0
    Farm loans $23,178
    Commercial and industrial loans $45,386
    To non-U.S. addressees $0
    Loans to individuals $2,320
    Credit card loans $0
    Related Plans $44
    Consumer Auto Loans $616
    Other loans to individuals $1,660
    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 $779
    Non 1-4 family restructured loans & leases $779
    Total loans and leases (foreign) $0

    Raccoon Valley Bank had $239,129,000 of loans outstanding in 2020. $171,395,000 of loans were in real estate loans. $33,393,000 of loans were in development loans. $11,899,000 of loans were in multifamily mortgage loans. $31,858,000 of loans were in 1-4 family mortgage loans. $23,178,000 of loans were in farm loans. $0 of loans were in credit card loans. $616,000 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 84 $24,152 $287,524
    Nonfarm, nonresidential loans - <$100k 24 $1,123 $46,792
    Nonfarm, nonresidential loans - $100-250k 19 $2,584 $136,000
    Nonfarm, nonresidential loans - $250k-1MM 41 $20,445 $498,659
    Commercial & Industrial, US addressed loans - <$1MM 379 $21,832 $57,604
    Commercial & Industrial, US addressed loans - <$100k 286 $7,175 $25,087
    Commercial & Industrial, US addressed loans - $100-250k 47 $4,818 $102,511
    Commercial & Industrial, US addressed loans - $250k-1MM 46 $9,839 $213,891
    Farmland loans - <$1MM 70 $7,630 $109,000
    Farmland loans - <$100k 21 $883 $42,048
    Farmland loans - $100-250k 38 $4,436 $116,737
    Farmland loans - $250k-1MM 11 $2,311 $210,091
    Agriculture operations loans - <$1MM 237 $12,232 $51,612
    Agriculture operations loans - <$100k 159 $3,037 $19,101
    Agriculture operations loans - $100-250k 51 $3,981 $78,059
    Agriculture operations loans - $250k-1MM 27 $5,214 $193,111