Iowa State Bank Mortgage Rates, Fees & Info

Hull, IA

LEI: 54930043NO4SOC3P8438

Tax ID: 42-0335307

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Mortgage Data

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

    Iowa State Bank is a smaller bank specializing in Home Purchase and Refi loans. Iowa State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Sioux City, Spirit Lake, Carroll, Sioux Falls, and Spencer among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Iowa State 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.

    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

    229

    Origination Dollar Volume (All Markets)

    $37,275,000

    Employee count

    83

    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 188 $25,820,000 $137,340 $0 0.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 4 $3,670,000 $917,500 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 10 $2,180,000 $218,000 $0 0.00%
    Carroll, IA (FHA|USDA|VA) 1 $1,405,000 $1,405,000 $0 0.00%
    SIOUX FALLS, SD (FHA|USDA|VA) 6 $1,140,000 $190,000 $0 0.00%
    Spencer, IA (FHA|USDA|VA) 5 $995,000 $199,000 $0 0.00%
    Fairmont, MN (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
    IOWA CITY, IA (FHA|USDA|VA) 2 $350,000 $175,000 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
    Yankton, SD (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    Storm Lake, IA (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2 $130,000 $65,000 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $100,000 $50,000 $0 0.00%
    Worthington, MN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Iowa State Bank's top markets include Sioux City, Spirit Lake, Carroll, Sioux Falls, and Spencer among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 206 $34,690,000 $168,398 $0 0.00%
    USDA 23 $2,585,000 $112,391 $0 0.00%

    For 2018, Iowa State Bank's most frequently originated type of loan was Conventional, with 206 originations. Their 2nd most popular type was USDA, with 23 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 156 $25,800,000 $165,385 $0 0.00%
    Refi 49 $8,895,000 $181,531 $0 0.00%
    Cash Out Refi 12 $1,600,000 $133,333 $0 0.00%
    Home Improvement 11 $955,000 $86,818 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2018, Iowa State Bank's most frequently cited loan purpose was Home Purchase, with 156 originations. The 2nd most popular reason was Refi, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 229 $37,275,000 $162,773 $0 0.00%

    For 2018, Iowa State Bank's most frequently cited loan duration was Other, with 229 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 101 $5,695,000 $56,386 $0 0.00%
    $100k-200k 83 $11,595,000 $139,699 $0 0.00%
    $200k-400k 35 $9,025,000 $257,857 $0 0.00%
    $1MM+ 5 $8,545,000 $1,709,000 $0 0.00%
    $400k-600k 4 $1,810,000 $452,500 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2018 saw Iowa State Bank place emphasis on $100,000 or less loans with 101 originations, totaling $5,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 66 $7,650,000 $115,909 $0 0.00%
    $50k or less 58 $4,780,000 $82,414 $0 0.00%
    $100k-150k 33 $4,985,000 $151,061 $0 0.00%
    $75k-100k 30 $4,560,000 $152,000 $0 0.00%
    $150k-250k 11 $2,325,000 $211,364 $0 0.00%
    $250k+ 5 $1,025,000 $205,000 $0 0.00%

    Iowa State Bank lent most frequently to those with incomes in the $50k-75k range, with 66 originations. The second most popular income band? $50k or less, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 229 $37,275,000 $162,773 $0 0.00%

    Iowa State Bank lent most frequently to those with DTI ratios of Exempt%, with 229 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 189 $25,345,000 $134,101 $0 0.00%
    Not applicable 17 $8,145,000 $479,118 $0 0.00%
    Not provided 22 $3,760,000 $170,909 $0 0.00%
    Asian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.79%

    Iowa State 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
    90.83%

    Iowa State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 229 $37,275,000 $162,773

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $9,720,000 $1,215,000
    Single Family (1-4 Units):Manufactured 2 $30,000 $15,000
    Single Family (1-4 Units):Site-Built 219 $27,525,000 $125,685

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Iowa State Bank 105 Albany Avenue, Southeast Orange City, IA 51041 Full Service B&M $145,876
    Iowa State Bank 105 North Main Paullina, IA 51046 Full Service B&M $22,737
    Iowa State Bank 108 Main Street Sanborn, IA 51248 Full Service B&M $14,368
    Iowa State Bank 1101 Main Street Hull, IA 51239 Full Service B&M $76,973
    Iowa State Bank 17 West Second Street Remsen, IA 51050 Full Service B&M $74,683
    Iowa State Bank 301 Plymouth Street Northwest Le Mars, IA 51031 Full Service B&M $3,735
    Iowa State Bank 305 Oak Street Le Mars, IA 51031 Full Service B&M $9,492
    Iowa State Bank 308 Main Street Ireton, IA 51027 Full Service B&M $30,987
    Iowa State Bank 627 2nd Avenue Sheldon, IA 51201 Full Service B&M $74,351

    For 2018, Iowa State Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,961
    Net interest income $20,054
    Total noninterest income $3,211
    Gross Fiduciary activities income $13
    Service charges on deposit accounts $590
    Trading account gains and fees $0
    Additional Noninterest Income $2,608
    Pre-tax net operating income $10,368
    Securities gains (or losses, -) $-229
    Income before extraordinary items $8,304
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,304
    Minority interest net income $0
    Net income $8,304
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,491

    Iowa State Bank's gross interest income from loans was $24,961,000.
    Iowa State Bank's net interest income from loans was $20,054,000.
    Iowa State Bank's fee based income from loans was $590,000.
    Iowa State Bank's net income from loans was $8,304,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,907
    Provision for credit losses $542
    Total noninterest expense $12,355
    Salaries and employee benefits $7,268
    Premises and equipment expense $1,548
    Additional noninterest expense $3,539
    Applicable income taxes $1,835
    Net charge-offs $42
    Cash dividends $3,690

    Iowa State Bank's interest expense for loans was $4,907,000.
    Iowa State Bank's payroll and benefits expense were $7,268,000.
    Iowa State Bank's property, plant and equipment expenses $1,548,000.

    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 $464,781
    Deposits held in domestic offices $464,781
    Deposits by Individuals, partnerships, and corporations $404,998
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $59,783
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $46,631
    Demand deposits $20,534
    Nontransaction accounts $418,150
    Money market deposit accounts (MMDAs) $69,253
    Other savings deposits (excluding MMDAs) $250,115
    Total time deposits $98,783
    Total time and savings deposits $444,247
    Noninterest-bearing deposits $87,968
    Interest-bearing deposits $376,812
    Retail deposits $447,987
    IRAs and Keogh plan accounts $17,692
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $619,537
    Cash & Balances due from depository institutions $32,637
    Interest-bearing balances $295
    Total securities $92,711
    Federal funds sold & reverse repurchase $0
    Net loans and leases $463,241
    Loan and leases loss allowance $5,820
    Trading account assets $0
    Bank premises and fixed assets $7,214
    Other real estate owned $85
    Goodwill and other intangibles $3,339
    All other assets $20,310

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $619,537
    Total Liabilities $537,449
    Total deposits $464,781
    Interest-bearing deposits $376,812
    Deposits held in domestic offices $464,781
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $54,127
    Trading liabilities $0
    Other borrowed funds $15,000
    Subordinated debt $0
    All other liabilities $3,541

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $463,241
    Loan and leases loss allowance $5,820
    Total loans and leases (domestic) $469,061
    All real estate loans $345,104
    Real estate loans in domestic offices $345,104
    Construction and development loans $8,935
    Residential 1-4 family construction $1,216
    Other construction, all land development and other land $7,719
    Loans secured by nonfarm nonresidential properties $71,673
    Nonfarm nonresidential secured by owner-occupied properties $67,437
    Commercial real estate & other non-farm, non-residential $4,236
    Multifamily residential real estate $7,277
    1-4 family residential loans $28,063
    Farmland loans $229,156
    Loans held in foreign offices $0
    Farm loans $58,735
    Commercial and industrial loans $39,787
    To non-U.S. addressees $0
    Loans to individuals $7,586
    Credit card loans $1,752
    Related Plans $18
    Consumer Auto Loans $4,308
    Other loans to individuals $1,508
    All other loans & leases $17,849
    Loans to foreign governments and official institutions $0
    Other loans $2,375
    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 $686
    Non 1-4 family restructured loans & leases $686
    Total loans and leases (foreign) $0

    Iowa State Bank had $463,241,000 of loans outstanding in 2018. $345,104,000 of loans were in real estate loans. $8,935,000 of loans were in development loans. $7,277,000 of loans were in multifamily mortgage loans. $28,063,000 of loans were in 1-4 family mortgage loans. $58,735,000 of loans were in farm loans. $1,752,000 of loans were in credit card loans. $4,308,000 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 210 $30,347 $144,510
    Nonfarm, nonresidential loans - <$100k 97 $3,138 $32,351
    Nonfarm, nonresidential loans - $100-250k 62 $7,587 $122,371
    Nonfarm, nonresidential loans - $250k-1MM 51 $19,622 $384,745
    Commercial & Industrial, US addressed loans - <$1MM 273 $22,278 $81,604
    Commercial & Industrial, US addressed loans - <$100k 175 $4,089 $23,366
    Commercial & Industrial, US addressed loans - $100-250k 56 $5,998 $107,107
    Commercial & Industrial, US addressed loans - $250k-1MM 42 $12,191 $290,262
    Farmland loans - <$1MM 201 $28,666 $142,617
    Farmland loans - <$100k 61 $1,886 $30,918
    Farmland loans - $100-250k 70 $8,715 $124,500
    Farmland loans - $250k-1MM 70 $18,065 $258,071
    Agriculture operations loans - <$1MM 233 $13,920 $59,742
    Agriculture operations loans - <$100k 162 $3,619 $22,340
    Agriculture operations loans - $100-250k 49 $5,457 $111,367
    Agriculture operations loans - $250k-1MM 22 $4,844 $220,182