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, 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, Crestview, Omaha, and Sioux City among others. We have data for 15 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

    289

    Origination Dollar Volume (All Markets)

    $60,865,000

    Employee count

    47

    Awards

    Raccoon Valley Bank 30 Year Conventional Loans gold Raccoon Valley Bank 30 Year Conventional Loans gold Raccoon Valley Bank 30 Year Conventional Loans silver
    Show all (3) 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) 243 $51,675,000 $212,654 $1,774 3.39%
    AMES, IA (FHA|USDA|VA) 14 $2,390,000 $170,714 $1,770 3.31%
    Outside of Metro Areas 8 $1,300,000 $162,500 $1,957 2.67%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,085,000 $1,085,000 $0 3.35%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 5 $925,000 $185,000 $1,951 2.45%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 6 $540,000 $90,000 $0 2.94%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $505,000 $505,000 $4,189 2.25%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $505,000 $505,000 $1,804 2.63%
    IOWA CITY, IA (FHA|USDA|VA) 2 $460,000 $230,000 $1,767 2.75%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $395,000 $395,000 $3,026 2.75%
    Fairfield, IA (FHA|USDA|VA) 2 $330,000 $165,000 $2,407 2.63%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $305,000 $305,000 $1,079 2.63%
    Fort Dodge, IA (FHA|USDA|VA) 2 $270,000 $135,000 $1,708 2.75%
    Pella, IA (FHA|USDA|VA) 1 $105,000 $105,000 $1,779 2.25%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $75,000 $75,000 $0 2.75%
    Raccoon Valley Bank's top markets include Des Moines, Ames, Crestview, Omaha, and Sioux City among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Maryland (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.

    Bank
    Similarity Rank: 82
    RESIDENTIAL MORTGAGE NETWORK, INC.
    Similarity Rank: 102
    VisionBank of Iowa
    Similarity Rank: 286
    Fidelity Bank
    Similarity Rank: 392
    GREATER IOWA CREDIT UNION
    Similarity Rank: 414
    Raccoon Valley Bank
    Similarity Rank: 540
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 570
    Community Choice Credit Union
    Similarity Rank: 816
    Serve Credit Union
    Similarity Rank: 896
    Luana Savings Bank
    Similarity Rank: 960

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 289 $60,865,000 $210,606 $1,812 3.31%

    For 2021, Raccoon Valley Bank's most frequently originated type of loan was Conventional, with 289 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $23,235,000 $188,902 $1,684 3.74%
    Refi 89 $20,295,000 $228,034 $1,796 2.83%
    Cash Out Refi 76 $17,290,000 $227,500 $1,999 3.14%
    Home Improvement 1 $45,000 $45,000 $269 4.75%

    For 2021, Raccoon Valley Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Refi, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 117 $24,435,000 $208,846 $1,830 2.95%
    15 Year 60 $11,100,000 $185,000 $1,830 2.68%
    1 Year 44 $4,280,000 $97,273 $0 4.53%
    5 Year 35 $14,295,000 $408,429 $0 3.91%
    20 Year 17 $3,575,000 $210,294 $1,956 3.15%
    Other 10 $1,560,000 $156,000 $721 4.04%
    10 Year 5 $1,505,000 $301,000 $0 3.46%
    3 Year 1 $115,000 $115,000 $0 3.02%

    For 2021, Raccoon Valley Bank's most frequently cited loan duration was 30 Year, with 117 originations. The 2nd most popular length was 15 Year, with 60 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 157 $32,975,000 $210,032
    $1k-2k 6 $1,310,000 $218,333
    $2k-3k 2 $500,000 $250,000
    $3k-4k 2 $1,000,000 $500,000
    $5k+ 1 $185,000 $185,000

    Raccoon Valley Bank's average total fees were $1,830, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 157 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 92 $18,710,000 $203,370
    3-4% 78 $19,000,000 $243,590
    4-5% 67 $11,365,000 $169,627
    <2.5% 52 $11,790,000 $226,731

    During 2021, Raccoon Valley Bank's average interest rate for loans was 2.95%, while their most frequently originated rate bucket for loans was 2.5-3%, with 92 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 104 $15,130,000 $145,481 $1,790 3.23%
    $200k-400k 80 $21,120,000 $264,000 $1,801 2.94%
    $100,000 or less 79 $5,585,000 $70,696 $1,639 3.81%
    $400k-600k 17 $8,175,000 $480,882 $2,124 2.92%
    $600k-1MM 5 $3,645,000 $729,000 $4,401 3.63%
    $1MM+ 4 $7,210,000 $1,802,500 $0 3.74%

    2021 saw Raccoon Valley Bank place emphasis on $100k-200k loans with 104 originations, totaling $15,130,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 42 $6,890,000 $164,048 $1,862 2.84%
    $100k-150k 39 $9,425,000 $241,667 $1,718 2.83%
    $150k-250k 33 $7,435,000 $225,303 $1,831 2.91%
    $50k or less 32 $3,590,000 $112,188 $1,768 2.98%
    $75k-100k 25 $4,545,000 $181,800 $1,732 2.75%
    $250k+ 18 $7,060,000 $392,222 $2,089 2.69%

    Raccoon Valley Bank lent most frequently to those with incomes in the $50k-75k range, with 42 originations. The second most popular income band? $100k-150k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 49 $9,845,000 $200,918 $1,813 2.70%
    <20% 34 $7,150,000 $210,294 $1,757 2.77%
    30-36% 30 $6,210,000 $207,000 $1,750 2.84%
    36% 8 $1,400,000 $175,000 $1,656 2.97%
    44% 8 $1,930,000 $241,250 $2,622 2.78%
    39% 6 $960,000 $160,000 $1,705 2.90%
    41% 5 $1,375,000 $275,000 $1,260 2.70%
    38% 5 $855,000 $171,000 $2,437 2.73%
    43% 5 $795,000 $159,000 $1,964 2.85%
    46% 5 $1,255,000 $251,000 $1,901 2.85%
    42% 4 $480,000 $120,000 $1,834 2.88%
    48% 4 $710,000 $177,500 $1,412 2.31%
    47% 4 $770,000 $192,500 $1,771 2.63%
    40% 4 $870,000 $217,500 $1,395 3.44%
    37% 3 $665,000 $221,667 $2,043 3.20%
    45% 3 $945,000 $315,000 $1,822 3.25%
    49% 2 $360,000 $180,000 $1,783 2.75%

    Raccoon Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 49 originations. The next most common DTI ratio? <20%, with 34 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 164 $34,190,000 $208,476 $1,800 2.87%
    Not applicable 98 $21,530,000 $219,694 $0 4.18%
    Not provided 17 $3,155,000 $185,588 $1,813 2.69%
    Asian 8 $1,650,000 $206,250 $2,137 2.80%
    Black 2 $340,000 $170,000 $1,650 3.69%

    Approval Rates

    Total approvals of all applications
    97.09%

    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
    96.19%

    Raccoon Valley 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 289 $60,865,000 $210,606

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    289 $60,865,000 $210,606

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $1,810,000 $150,833 $1,702 3.01%
    40-60% 60 $12,220,000 $203,667 $1,979 3.09%
    60-80% 145 $32,225,000 $222,241 $1,809 3.41%
    80-100% 61 $13,795,000 $226,148 $1,758 3.17%
    Under 20% 11 $815,000 $74,091 $811 4.25%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Raccoon Valley Bank 1009 Court Street Adel, IA 50003 Full Service B&M $63,452
    Raccoon Valley Bank 1051 Ne Gateway Drive Grimes, IA 50111 Full Service B&M $20,535
    Raccoon Valley Bank 1202 2nd Street Perry, IA 50220 Full Service B&M $171,289
    Raccoon Valley Bank 305 Baker Street Minburn, IA 50167 Full Service B&M $17,599
    Raccoon Valley Bank 590 Sugar Grove Dallas Center, IA 50063 Full Service B&M $46,034

    For 2021, Raccoon Valley Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,854
    Net interest income $11,598
    Total noninterest income $1,762
    Gross Fiduciary activities income $35
    Service charges on deposit accounts $182
    Trading account gains and fees $0
    Additional Noninterest Income $1,545
    Pre-tax net operating income $5,361
    Securities gains (or losses, -) $349
    Income before extraordinary items $5,420
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,420
    Minority interest net income $0
    Net income $5,420
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,088

    Raccoon Valley Bank's gross interest income from loans was $12,854,000.
    Raccoon Valley Bank's net interest income from loans was $11,598,000.
    Raccoon Valley Bank's fee based income from loans was $182,000.
    Raccoon Valley Bank's net income from loans was $5,420,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,256
    Provision for credit losses $0
    Total noninterest expense $7,999
    Salaries and employee benefits $4,377
    Premises and equipment expense $1,408
    Additional noninterest expense $2,214
    Applicable income taxes $290
    Net charge-offs $11
    Cash dividends $3,534

    Raccoon Valley Bank's interest expense for loans was $1,256,000.
    Raccoon Valley Bank's payroll and benefits expense were $4,377,000.
    Raccoon Valley Bank's property, plant and equipment expenses $1,408,000.

    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 $355,933
    Deposits held in domestic offices $355,933
    Deposits by Individuals, partnerships, and corporations $293,706
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $62,215
    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 $161,269
    Demand deposits $80,040
    Nontransaction accounts $194,664
    Money market deposit accounts (MMDAs) $72,099
    Other savings deposits (excluding MMDAs) $44,278
    Total time deposits $78,287
    Total time and savings deposits $275,893
    Noninterest-bearing deposits $80,040
    Interest-bearing deposits $275,893
    Retail deposits $318,856
    IRAs and Keogh plan accounts $5,863
    Brokered deposits $10,516
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $394,924
    Cash & Balances due from depository institutions $36,690
    Interest-bearing balances $30,740
    Total securities $62,059
    Federal funds sold & reverse repurchase $0
    Net loans and leases $283,388
    Loan and leases loss allowance $3,139
    Trading account assets $0
    Bank premises and fixed assets $9,157
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $3,630

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $394,924
    Total Liabilities $360,385
    Total deposits $355,933
    Interest-bearing deposits $275,893
    Deposits held in domestic offices $355,933
    % insured (estimated) $65
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,500
    Subordinated debt $0
    All other liabilities $952

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $283,388
    Loan and leases loss allowance $3,139
    Total loans and leases (domestic) $286,527
    All real estate loans $212,945
    Real estate loans in domestic offices $212,945
    Construction and development loans $50,491
    Residential 1-4 family construction $23,522
    Other construction, all land development and other land $26,969
    Loans secured by nonfarm nonresidential properties $81,084
    Nonfarm nonresidential secured by owner-occupied properties $42,573
    Commercial real estate & other non-farm, non-residential $38,511
    Multifamily residential real estate $16,475
    1-4 family residential loans $34,533
    Farmland loans $30,362
    Loans held in foreign offices $0
    Farm loans $25,889
    Commercial and industrial loans $46,365
    To non-U.S. addressees $0
    Loans to individuals $1,328
    Credit card loans $0
    Related Plans $38
    Consumer Auto Loans $725
    Other loans to individuals $565
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Raccoon Valley Bank had $283,388,000 of loans outstanding in 2021. $212,945,000 of loans were in real estate loans. $50,491,000 of loans were in development loans. $16,475,000 of loans were in multifamily mortgage loans. $34,533,000 of loans were in 1-4 family mortgage loans. $25,889,000 of loans were in farm loans. $0 of loans were in credit card loans. $725,000 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 98 $29,849 $304,582
    Nonfarm, nonresidential loans - <$100k 20 $869 $43,450
    Nonfarm, nonresidential loans - $100-250k 30 $4,612 $153,733
    Nonfarm, nonresidential loans - $250k-1MM 48 $24,368 $507,667
    Commercial & Industrial, US addressed loans - <$1MM 384 $23,711 $61,747
    Commercial & Industrial, US addressed loans - <$100k 293 $7,404 $25,270
    Commercial & Industrial, US addressed loans - $100-250k 50 $5,634 $112,680
    Commercial & Industrial, US addressed loans - $250k-1MM 41 $10,673 $260,317
    Farmland loans - <$1MM 63 $6,572 $104,317
    Farmland loans - <$100k 20 $655 $32,750
    Farmland loans - $100-250k 35 $4,110 $117,429
    Farmland loans - $250k-1MM 8 $1,807 $225,875
    Agriculture operations loans - <$1MM 203 $12,581 $61,975
    Agriculture operations loans - <$100k 134 $3,287 $24,530
    Agriculture operations loans - $100-250k 48 $4,542 $94,625
    Agriculture operations loans - $250k-1MM 21 $4,752 $226,286