Community Savings Bank Mortgage Rates, Fees & Info

Edgewood, IA

LEI: 254900SPZRGOBHSHRP90

Tax ID: 42-0192370

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Community Savings Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Community Savings Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Cedar Rapids, Dubuque, Iowa City, Des Moines, and Waterloo among others. Community Savings Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Community Savings Bank is typically a low fee lendor.


Originations

514

Origination Dollar Volume (All Markets)

$86,820,000

Employee count

88 Show all (10) awards

Relative Rate

Community Savings Bank's average 30 year fixed rate mortgage of loans were 2.67%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.48%.

Relative Fees

Community Savings Bank's average total fees for a 30 year fixed rate mortgage are $2,669.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 257 $33,935,000 $132,043 $2,273 2.76%
CEDAR RAPIDS, IA (FHA|USDA|VA) 147 $22,545,000 $153,367 $1,903 3.10%
DUBUQUE, IA (FHA|USDA|VA) 56 $19,090,000 $340,893 $2,066 2.74%
IOWA CITY, IA (FHA|USDA|VA) 12 $2,400,000 $200,000 $1,918 2.71%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 9 $1,985,000 $220,556 $1,975 2.82%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 11 $1,755,000 $159,545 $2,239 2.65%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 7 $1,195,000 $170,714 $1,495 2.44%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $895,000 $895,000 $0 3.25%
Clinton, IA (FHA|USDA|VA) 1 $765,000 $765,000 $0 3.93%
Fergus Falls, MN (FHA|USDA|VA) 2 $550,000 $275,000 $4,817 2.19%
AMES, IA (FHA|USDA|VA) 2 $290,000 $145,000 $2,186 3.49%
ROCHESTER, MN (FHA|USDA|VA) 1 $255,000 $255,000 $4,591 2.88%
MADISON, WI (FHA|USDA|VA) 1 $235,000 $235,000 $4,514 2.75%
Burlington, IA-IL (FHA|USDA|VA) 1 $225,000 $225,000 $3,310 2.25%
Platteville, WI (FHA|USDA|VA) 2 $180,000 $90,000 $2,166 3.43%
Storm Lake, IA (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.25%
Mason City, IA (FHA|USDA|VA) 1 $135,000 $135,000 $2,063 2.75%
Pontiac, IL (FHA|USDA|VA) 1 $115,000 $115,000 $2,244 2.63%
Muscatine, IA (FHA|USDA|VA) 1 $115,000 $115,000 $1,149 2.50%

Community Savings Bank's top markets include Cedar Rapids, Dubuque, Iowa City, Des Moines, and Waterloo among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 493 $84,345,000 $171,085 $2,082 2.86%
USDA 20 $2,470,000 $123,500 $3,701 2.59%
FHA 1 $5,000 $5,000 $0 4.68%

For the 2021 period, Community Savings Bank's most frequently originated loan type of loans were Conventional, with 493 originations. Their 2nd most popular type is USDA, with 20 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 192 $44,070,000 $229,531 $2,504 3.08%
Refi 159 $23,365,000 $146,950 $1,987 2.59%
Cash Out Refi 128 $18,340,000 $143,281 $2,354 2.45%
Home Improvement 21 $485,000 $23,095 $264 4.00%
Other 14 $560,000 $40,000 $405 4.67%

For the 2021, Community Savings Bank's most frequently cited loan purpose of loans were Home Purchase, with 192 originations. The 2nd most popular reason of loans were Refi, with 159 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 197 $36,005,000 $182,766 $2,669 2.67%
15 Year 112 $15,710,000 $140,268 $2,151 1.98%
Other 66 $16,750,000 $253,788 $737 4.15%
20 Year 49 $7,185,000 $146,633 $2,321 2.42%
5 Year 42 $6,260,000 $149,048 $1,380 4.16%
10 Year 41 $4,355,000 $106,220 $1,427 2.90%
3 Year 4 $70,000 $17,500 $248 5.64%
1 Year 3 $485,000 $161,667 $350 3.81%

For the 2021, Community Savings Bank's most frequently cited loan length of loans were 30 Year, with 197 originations. The 2nd most popular length of loans were 15 Year, with 112 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 188 $20,330,000 $108,138
$1k-2k 170 $23,850,000 $140,294
$2k-3k 53 $13,195,000 $248,962
$3k-4k 25 $7,465,000 $298,600
$5k+ 1 $285,000 $285,000

$2,669 of loans were Community Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 188 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 236 $35,170,000 $149,025
2.5-3% 134 $24,520,000 $182,985
3-4% 88 $22,110,000 $251,250
4-5% 48 $4,840,000 $100,833
5-6% 5 $135,000 $27,000
Over 8% 3 $45,000 $15,000

During 2021, Community Savings Bank's average interest rate of loans were 2.67%, while their most frequently originated rate bucket of loans were <2.5%, with 236 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 214 $29,600,000 $138,318 $2,218 2.62%
$100,000 or less 179 $10,475,000 $58,520 $1,246 3.24%
$200k-400k 107 $28,705,000 $268,271 $3,259 2.61%
$400k-600k 8 $3,810,000 $476,250 $2,796 3.02%
$600k-1MM 4 $3,120,000 $780,000 $0 3.88%
$1MM+ 2 $11,110,000 $5,555,000 $0 3.70%

2021 saw Community Savings Bank place emphasis on $100k-200k loans with 214 originations, totaling $29,600,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 109 $12,115,000 $111,147 $1,966 2.83%
$100k-150k 104 $17,900,000 $172,115 $2,156 2.79%
$50k or less 99 $9,555,000 $96,515 $1,907 2.83%
$75k-100k 79 $12,165,000 $153,987 $2,462 2.58%
$150k-250k 62 $12,920,000 $208,387 $2,439 2.61%
$250k+ 11 $3,105,000 $282,273 $2,979 2.80%

Community Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 109 originations. The second most popular income band? $100k-150k, with 104 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 161 $24,855,000 $154,379 $2,203 2.55%
30-36% 99 $14,225,000 $143,687 $2,198 2.85%
<20% 92 $12,500,000 $135,870 $1,996 2.68%
36% 15 $2,115,000 $141,000 $2,545 3.14%
41% 14 $2,580,000 $184,286 $2,317 2.77%
38% 11 $1,615,000 $146,818 $2,651 3.12%
39% 11 $1,245,000 $113,182 $1,876 2.85%
40% 11 $1,305,000 $118,636 $2,013 2.98%
42% 10 $1,200,000 $120,000 $2,228 2.98%
37% 10 $1,450,000 $145,000 $2,158 2.36%
43% 8 $1,270,000 $158,750 $2,388 3.01%
45% 6 $540,000 $90,000 $1,863 3.01%
48% 4 $370,000 $92,500 $1,171 3.11%
49% 4 $720,000 $180,000 $2,353 2.38%
47% 3 $465,000 $155,000 $2,397 3.11%
44% 3 $465,000 $155,000 $855 3.36%
50-60% 2 $330,000 $165,000 $0 3.94%
46% 1 $35,000 $35,000 $0 4.98%
>60% 1 $285,000 $285,000 $0 3.50%

Community Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 161 originations. The next most common DTI ratio? 30-36%, with 99 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 438 $62,930,000 $143,676 $2,146 2.75%
Not applicable 45 $18,275,000 $406,111 $0 3.97%
Not provided 24 $4,230,000 $176,250 $2,194 2.61%
Asian 4 $760,000 $190,000 $2,403 3.09%
American Indian 3 $625,000 $208,333 $3,003 2.78%

Approval Rates

Total approvals of all applications
89.53%

Community Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
88.76%

Community Savings Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
40.0 2 $140,000 $70,000
450.0 1 $25,000 $25,000
NA 511 $86,655,000 $169,579

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
514 $86,820,000 $168,911

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 40 $3,610,000 $90,250 $1,483 3.00%
40-60% 93 $12,315,000 $132,419 $1,963 2.39%
60-80% 194 $45,910,000 $236,649 $2,501 2.77%
80-100% 142 $23,510,000 $165,563 $2,601 2.90%
Over 100% 1 $215,000 $215,000 $0 4.03%
Under 20% 44 $1,260,000 $28,636 $319 3.93%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
COMMUNITY BANK SYSTEM, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 1 50.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Community Savings Bank 101 East Union Streets Edgewood, IA 52042 Full Service B&M $120,902
Community Savings Bank 203 East Main Street Coggon, IA 52218 Full Service B&M $17,972
Community Savings Bank 221 East Main Street Manchester, IA 52057 Full Service B&M $89,400
Community Savings Bank 3414 Mt. Vernon Road Cedar Rapids, IA 52403 Full Service B&M $22,396
Community Savings Bank 502 South Highway 52, Suite 2 Guttenberg, IA 52052 Full Service B&M $3,628
Community Savings Bank 101 Robins Square Court Robins, IA 52328 Full Service B&M $54,428
Community Savings Bank 101 S. Main Street Garnavillo, IA 52049 Full Service B&M $35,816
Community Savings Bank 106 Northern Avenue Earlville, IA 52041 Full Service B&M $36,580
Community Savings Bank 1211 12th Ave Se, Suite 103 Dyersville, IA 52040 Full Service B&M $21,933
Community Savings Bank 1295 Blairs Ferry Road Marion, IA 52302 Full Service B&M $12,330

For 2021, Community Savings Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $18,547
Net interest income $16,067
Total noninterest income $4,400
Gross Fiduciary activities income $26
Service charges on deposit accounts $441
Trading account gains and fees $0
Additional Noninterest Income $3,933
Pre-tax net operating income $6,233
Securities gains (or losses, -) $568
Income before extraordinary items $6,464
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,464
Minority interest net income $0
Net income $6,464
Sale, conversion, retirement of capital stock, net $0
Net operating income $5,924

Community Savings Bank's gross interest income from loans was $18,547,000.
Community Savings Bank's net interest income from loans was $16,067,000.
Community Savings Bank's fee based income from loans was $441,000.
Community Savings Bank's net income from loans was $6,464,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,480
Provision for credit losses $158
Total noninterest expense $14,076
Salaries and employee benefits $8,119
Premises and equipment expense $1,980
Additional noninterest expense $3,977
Applicable income taxes $337
Net charge-offs $-60
Cash dividends $2,400

Community Savings Bank's interest expense for loans was $2,480,000.
Community Savings Bank's payroll and benefits expense were $8,119,000.
Community Savings Bank's property, plant and equipment expenses $1,980,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 1.0%
Real Estate loans 1.0%
Construction & Land Development loans 3.0%
Nonfarm, nonresidential loans 3.0%
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 $427,918
Deposits held in domestic offices $427,918
Deposits by Individuals, partnerships, and corporations $350,330
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $63,162
Deposits by Commercial banks and other depository institutions in U.S. $14,426
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $165,108
Demand deposits $99,587
Nontransaction accounts $262,810
Money market deposit accounts (MMDAs) $125,619
Other savings deposits (excluding MMDAs) $70,965
Total time deposits $66,226
Total time and savings deposits $328,331
Noninterest-bearing deposits $99,587
Interest-bearing deposits $328,331
Retail deposits $414,703
IRAs and Keogh plan accounts $13,641
Brokered deposits $6,662
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $521,133
Cash & Balances due from depository institutions $32,418
Interest-bearing balances $29,310
Total securities $120,506
Federal funds sold & reverse repurchase $4,667
Net loans and leases $336,834
Loan and leases loss allowance $3,892
Trading account assets $0
Bank premises and fixed assets $11,366
Other real estate owned $725
Goodwill and other intangibles $5,971
All other assets $8,646

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $521,133
Total Liabilities $468,554
Total deposits $427,918
Interest-bearing deposits $328,331
Deposits held in domestic offices $427,918
% insured (estimated) $77
Federal funds purchased and repurchase agreements $10,149
Trading liabilities $0
Other borrowed funds $29,254
Subordinated debt $0
All other liabilities $1,233

Issued Loan Types

Type Value (in 000's)
Net loans and leases $336,834
Loan and leases loss allowance $3,892
Total loans and leases (domestic) $340,726
All real estate loans $234,337
Real estate loans in domestic offices $234,337
Construction and development loans $22,374
Residential 1-4 family construction $5,373
Other construction, all land development and other land $17,001
Loans secured by nonfarm nonresidential properties $85,409
Nonfarm nonresidential secured by owner-occupied properties $43,728
Commercial real estate & other non-farm, non-residential $41,681
Multifamily residential real estate $9,977
1-4 family residential loans $36,992
Farmland loans $79,585
Loans held in foreign offices $0
Farm loans $39,352
Commercial and industrial loans $49,799
To non-U.S. addressees $0
Loans to individuals $9,763
Credit card loans $0
Related Plans $68
Consumer Auto Loans $4,067
Other loans to individuals $5,628
All other loans & leases $7,476
Loans to foreign governments and official institutions $0
Other loans $6,098
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $29
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,134
Non 1-4 family restructured loans & leases $1,134
Total loans and leases (foreign) $0

Community Savings Bank had $336,834,000 of loans outstanding in 2021. $234,337,000 of loans were in real estate loans. $22,374,000 of loans were in development loans. $9,977,000 of loans were in multifamily mortgage loans. $36,992,000 of loans were in 1-4 family mortgage loans. $39,352,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,067,000 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 153 $30,569 $199,797
Nonfarm, nonresidential loans - <$100k 44 $1,992 $45,273
Nonfarm, nonresidential loans - $100-250k 55 $7,189 $130,709
Nonfarm, nonresidential loans - $250k-1MM 54 $21,388 $396,074
Commercial & Industrial, US addressed loans - <$1MM 362 $22,748 $62,840
Commercial & Industrial, US addressed loans - <$100k 251 $5,252 $20,924
Commercial & Industrial, US addressed loans - $100-250k 63 $5,492 $87,175
Commercial & Industrial, US addressed loans - $250k-1MM 48 $12,004 $250,083
Farmland loans - <$1MM 150 $22,086 $147,240
Farmland loans - <$100k 32 $894 $27,938
Farmland loans - $100-250k 72 $9,572 $132,944
Farmland loans - $250k-1MM 46 $11,620 $252,609
Agriculture operations loans - <$1MM 281 $14,465 $51,477
Agriculture operations loans - <$100k 185 $3,457 $18,686
Agriculture operations loans - $100-250k 64 $4,807 $75,109
Agriculture operations loans - $250k-1MM 32 $6,201 $193,781