Community Savings Bank Mortgage Rates, Fees & Info

Edgewood, IA

LEI: 254900SPZRGOBHSHRP90

Tax ID: 42-0192370

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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 by origination volume include: Cedar Rapids, Dubuque, Iowa City, Des Moines, and Waterloo among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community Savings 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. Community Savings 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.29% 11/17/24
    30 Year Conventional Refi 6.17% 11/17/24
    30 Year Cash-out Refi 6.14% 11/17/24
    30 Year USDA Purchase 6.51% 11/17/24
    15 Year Conventional Purchase 5.95% 11/17/24
    15 Year Conventional Refi 5.70% 11/17/24
    15 Year Cash-out Refi 5.70% 11/17/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Community Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Community Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    514

    Origination Dollar Volume (All Markets)

    $86,820,000

    Employee count

    88 Show all (10) 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
    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.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)

    • Similar Lenders

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

    BankIowa of Cedar Rapids
    Similarity Rank: 75
    Farmers & Merchants Savings Bank
    Similarity Rank: 240
    Hills Bank and Trust Company
    Similarity Rank: 308
    FIRST
    Similarity Rank: 308
    LINN AREA
    Similarity Rank: 390
    Fidelity Bank & Trust
    Similarity Rank: 585
    Community Savings Bank
    Similarity Rank: 589
    RUHL MORTGAGE, LLC
    Similarity Rank: 600
    Bankers Trust Company
    Similarity Rank: 629
    Collins Community Credit Union
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Community Savings Bank's most frequently originated type of loan was Conventional, with 493 originations. Their 2nd most popular type was USDA, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Community Savings Bank's most frequently cited loan purpose was Home Purchase, with 192 originations. The 2nd most popular reason was 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 2021, Community Savings Bank's most frequently cited loan duration was 30 Year, with 197 originations. The 2nd most popular length was 15 Year, with 112 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 21 $6,105,000 $290,714
    $4k-5k 4 $1,360,000 $340,000
    $5k+ 1 $285,000 $285,000

    Community Savings Bank's average total fees were $2,669, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.67%, while their most frequently originated rate bucket for loans was <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
    90.34%

    Community Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.94%

    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 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
    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

    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