River Bank & Trust Mortgage Rates, Fees & Info

Prattville, AL

LEI: 5493006HAFES1LQ18W28

Tax ID: 20-4303726

4.2 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

River Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. River Bank & Trust has a high proportion of conventional loans. Their top markets include Montgomery, Alexander City, Auburn, Daphne, and Dothan among others. River Bank & Trust has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. River Bank & Trust is typically an average fee lendor.


Originations

861

Origination Dollar Volume (All Markets)

$168,235,000

Employee count

270

Relative Rate

River Bank & Trust's average 30 year fixed rate mortgage of loans were 3.41%.

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

This yields a difference of 0.26%.

Relative Fees

River Bank & Trust's average total fees for a 30 year fixed rate mortgage are $4,726.

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
MONTGOMERY, AL (FHA|USDA|VA) 136 $24,340,000 $178,971 $3,352 4.08%
Alexander City, AL (FHA|USDA|VA) 81 $23,895,000 $295,000 $4,421 4.09%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 198 $20,070,000 $101,364 $3,230 6.07%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 45 $16,375,000 $363,889 $3,798 3.49%
DOTHAN, AL (FHA|USDA|VA) 61 $13,165,000 $215,820 $3,580 3.99%
MOBILE, AL (FHA|USDA|VA) 82 $11,480,000 $140,000 $2,970 4.03%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 14 $9,960,000 $711,429 $20,917 3.35%
Enterprise, AL (FHA|USDA|VA) 47 $8,555,000 $182,021 $2,320 4.14%
GADSDEN, AL (FHA|USDA|VA) 42 $8,530,000 $203,095 $2,888 3.91%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 59 $7,345,000 $124,492 $1,996 4.14%
PANAMA CITY, FL (FHA|USDA|VA) 20 $6,420,000 $321,000 $3,840 3.66%
Outside of Metro Areas 14 $3,690,000 $263,571 $1,952 5.02%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $2,175,000 $2,175,000 $0 3.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 4 $1,830,000 $457,500 $4,150 3.44%
HUNTSVILLE, AL (FHA|USDA|VA) 6 $1,740,000 $290,000 $1,026 3.71%
DECATUR, AL (FHA|USDA|VA) 12 $1,580,000 $131,667 $1,923 3.86%
TUSCALOOSA, AL (FHA|USDA|VA) 5 $1,325,000 $265,000 $3,452 3.49%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 3 $895,000 $298,333 $4,682 3.30%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $805,000 $805,000 $12,509 3.95%
Albertville, AL (FHA|USDA|VA) 1 $795,000 $795,000 $0 2.85%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $530,000 $265,000 $0 4.13%
Eufaula, AL-GA (FHA|USDA|VA) 1 $495,000 $495,000 $0 4.25%
LaGrange, GA-AL (FHA|USDA|VA) 10 $420,000 $42,000 $1,475 6.66%
Ozark, AL (FHA|USDA|VA) 6 $380,000 $63,333 $2,310 4.35%
Fort Payne, AL (FHA|USDA|VA) 2 $270,000 $135,000 $1,796 3.65%
Oxford, MS (FHA|USDA|VA) 1 $265,000 $265,000 $0 3.95%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.95%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $215,000 $215,000 $3,200 3.95%
Cullman, AL (FHA|USDA|VA) 1 $205,000 $205,000 $861 3.99%
COLUMBUS, GA-AL (FHA|USDA|VA) 2 $130,000 $65,000 $915 5.41%
Troy, AL (FHA|USDA|VA) 1 $85,000 $85,000 $765 2.95%
Starkville, MS (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.95%

River Bank & Trust's top markets include Montgomery, Alexander City, Auburn, Daphne, and Dothan among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 861 $168,235,000 $195,395 $3,801 4.50%

For the 2021 period, River Bank & Trust's most frequently originated loan type of loans were Conventional, with 861 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 546 $111,440,000 $204,103 $4,380 4.65%
Refi 282 $52,280,000 $185,390 $3,091 4.25%
Home Improvement 14 $1,080,000 $77,143 $1,913 4.59%
Cash Out Refi 11 $2,045,000 $185,909 $3,990 4.33%
Other 8 $1,390,000 $173,750 $2,391 3.48%

For the 2021, River Bank & Trust's most frequently cited loan purpose of loans were Home Purchase, with 546 originations. The 2nd most popular reason of loans were Refi, with 282 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
5 Year 246 $31,300,000 $127,236 $1,423 4.26%
Other 243 $21,615,000 $88,951 $1,654 6.04%
30 Year 211 $71,545,000 $339,076 $4,726 3.41%
15 Year 50 $9,160,000 $183,200 $2,307 3.95%
10 Year 43 $13,185,000 $306,628 $1,734 4.02%
30+ year 22 $13,730,000 $624,091 $7,554 3.81%
3 Year 16 $1,270,000 $79,375 $0 4.79%
1 Year 16 $3,380,000 $211,250 $3,302 3.99%
20 Year 14 $3,050,000 $217,857 $3,088 3.42%

For the 2021, River Bank & Trust's most frequently cited loan length of loans were 5 Year, with 246 originations. The 2nd most popular length of loans were Other, with 243 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 143 $26,425,000 $184,790
$1k-2k 117 $18,615,000 $159,103
$2k-3k 48 $14,670,000 $305,625
$3k-4k 41 $18,615,000 $454,024
$5k+ 25 $22,965,000 $918,600

$4,726 of loans were River Bank & Trust's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 143 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 350 $88,060,000 $251,600
4-5% 213 $26,245,000 $123,216
2.5-3% 110 $43,820,000 $398,364
7-8% 81 $2,845,000 $35,123
6-7% 80 $4,270,000 $53,375
5-6% 17 $1,415,000 $83,235
Over 8% 6 $120,000 $20,000
<2.5% 4 $1,460,000 $365,000

During 2021, River Bank & Trust's average interest rate of loans were 3.41%, while their most frequently originated rate bucket of loans were 3-4%, with 350 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 420 $21,670,000 $51,595 $1,681 5.37%
$100k-200k 184 $26,050,000 $141,576 $2,622 3.90%
$200k-400k 146 $40,420,000 $276,849 $3,546 3.59%
$400k-600k 56 $26,860,000 $479,643 $4,584 3.51%
$600k-1MM 34 $25,100,000 $738,235 $7,319 3.36%
$1MM+ 21 $28,135,000 $1,339,762 $21,498 3.45%

2021 saw River Bank & Trust place emphasis on $100,000 or less loans with 420 originations, totaling $21,670,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 147 $9,715,000 $66,088 $1,831 5.38%
$100k-150k 128 $22,670,000 $177,109 $3,417 4.49%
$50k-75k 112 $11,110,000 $99,196 $2,554 4.67%
$150k-250k 107 $26,995,000 $252,290 $4,382 4.32%
$250k+ 100 $49,670,000 $496,700 $7,200 3.58%
$75k-100k 73 $9,075,000 $124,315 $2,555 5.09%

River Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 147 originations. The second most popular income band? $100k-150k, with 128 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 188 $36,880,000 $196,170 $3,771 4.52%
30-36% 128 $26,120,000 $204,063 $5,301 4.85%
<20% 117 $23,675,000 $202,350 $3,072 4.07%
38% 34 $3,680,000 $108,235 $2,731 5.38%
>60% 31 $6,195,000 $199,839 $3,172 4.34%
37% 27 $5,735,000 $212,407 $5,034 5.12%
42% 24 $3,480,000 $145,000 $3,428 5.00%
36% 21 $3,965,000 $188,810 $2,626 4.95%
41% 18 $3,830,000 $212,778 $4,141 4.75%
50-60% 17 $3,825,000 $225,000 $2,531 4.07%
43% 17 $3,375,000 $198,529 $4,029 4.96%
39% 16 $2,770,000 $173,125 $3,065 4.83%
40% 16 $2,200,000 $137,500 $2,767 5.06%
45% 5 $865,000 $173,000 $1,449 4.63%
47% 4 $900,000 $225,000 $5,093 4.34%
44% 4 $1,130,000 $282,500 $4,810 3.53%
46% 3 $1,055,000 $351,667 $4,791 3.42%
48% 3 $315,000 $105,000 $490 4.25%

River Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 188 originations. The next most common DTI ratio? 30-36%, with 128 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 601 $115,615,000 $192,371 $3,466 4.60%
Not applicable 181 $36,735,000 $202,956 $0 4.11%
Not provided 22 $7,000,000 $318,182 $15,648 4.68%
Asian 13 $4,645,000 $357,308 $3,394 3.68%
Black 43 $4,025,000 $93,605 $2,228 4.97%
Native Hawaiian 1 $215,000 $215,000 $691 3.45%

Approval Rates

Total approvals of all applications
90.61%

River Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
95.79%

River Bank & Trust 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
0.0 1 $55,000 $55,000
1158.69 1 $35,000 $35,000
129.5 1 $35,000 $35,000
132.5 5 $135,000 $27,000
135.5 2 $80,000 $40,000
141.5 1 $65,000 $65,000
144.5 4 $100,000 $25,000
225.0 2 $100,000 $50,000
228.0 109 $4,915,000 $45,092
230.0 7 $175,000 $25,000
237.0 6 $160,000 $26,667
248.0 1 $45,000 $45,000
253.0 1 $45,000 $45,000
261.83 1 $35,000 $35,000
3.0 2 $40,000 $20,000
753.0 1 $65,000 $65,000
NA 716 $162,150,000 $226,466

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
861 $168,235,000 $195,395

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 75 $9,555,000 $127,400 $2,054 4.34%
40-60% 102 $19,610,000 $192,255 $2,705 4.15%
60-80% 234 $50,090,000 $214,060 $3,842 4.40%
80-100% 405 $84,115,000 $207,691 $4,970 4.71%
Over 100% 18 $3,430,000 $190,556 $3,011 3.89%
Under 20% 27 $1,435,000 $53,148 $1,150 4.53%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
River Bank & Trust 2394 East University Drive Auburn, AL 36830 Full Service B&M $195,782
River Bank & Trust 244 South 3rd Street Gadsden, AL 35901 Full Service B&M $161,017
River Bank & Trust 2611 Legends Drive Prattville, AL 36066 Full Service B&M $181,366
River Bank & Trust 27900 N Main St Daphne, AL 36526 Full Service B&M $29,013
River Bank & Trust 306 South Main Street Enterprise, AL 36330 Full Service B&M $89,783
River Bank & Trust 309 Maxwell Blvd Montgomery, AL 36104 Full Service B&M $109,869
River Bank & Trust 3111 Alabama Hwy 14 Millbrook, AL 36054 Full Service B&M $46,848
River Bank & Trust 3617 U.S. Highway 280 Alexander City, AL 35010 Full Service B&M $137,746
River Bank & Trust 3850 West Main Street, Suite 1000 Dothan, AL 36305 Full Service B&M $33,995
River Bank & Trust 4630 Bit And Spur Road Mobile, AL 36608 Full Service B&M $12,287
River Bank & Trust 612 South Memorial Drive Prattville, AL 36067 Full Service B&M $10,031
River Bank & Trust 620 Second Avenue North Clanton, AL 35045 Full Service B&M $233,181
River Bank & Trust 7075 Halcyon Park Dr. Montgomery, AL 36117 Full Service B&M $397,654
River Bank & Trust 10 Cambridge Drive Wetumpka, AL 36093 Full Service B&M $145,940
River Bank & Trust 1479 West Main Street Dothan, AL 36302 Full Service B&M $79,147
River Bank & Trust 1804 Thomason Drive Opelika, AL 36801 Full Service B&M $110,020
River Bank & Trust 2040 7th St S Clanton, AL 35045 Full Service B&M $20,240
River Bank & Trust 20688 31 South Thorsby, AL 35171 Full Service B&M $6,236

For 2021, River Bank & Trust had 18 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $71,798
Net interest income $67,753
Total noninterest income $15,348
Gross Fiduciary activities income $0
Service charges on deposit accounts $2,114
Trading account gains and fees $0
Additional Noninterest Income $13,234
Pre-tax net operating income $34,852
Securities gains (or losses, -) $-607
Income before extraordinary items $26,589
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $26,589
Minority interest net income $0
Net income $26,589
Sale, conversion, retirement of capital stock, net $180
Net operating income $27,068

River Bank & Trust's gross interest income from loans was $71,798,000.
River Bank & Trust's net interest income from loans was $67,753,000.
River Bank & Trust's fee based income from loans was $2,114,000.
River Bank & Trust's net income from loans was $26,589,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,045
Provision for credit losses $4,744
Total noninterest expense $43,505
Salaries and employee benefits $27,189
Premises and equipment expense $3,519
Additional noninterest expense $12,797
Applicable income taxes $7,656
Net charge-offs $624
Cash dividends $3,000

River Bank & Trust's interest expense for loans was $4,045,000.
River Bank & Trust's payroll and benefits expense were $27,189,000.
River Bank & Trust's property, plant and equipment expenses $3,519,000.

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 $2,159,168
Deposits held in domestic offices $2,159,168
Deposits by Individuals, partnerships, and corporations $1,908,936
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $250,232
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 $502,770
Demand deposits $271,535
Nontransaction accounts $1,656,398
Money market deposit accounts (MMDAs) $1,258,534
Other savings deposits (excluding MMDAs) $117,765
Total time deposits $280,098
Total time and savings deposits $1,887,633
Noninterest-bearing deposits $617,997
Interest-bearing deposits $1,541,172
Retail deposits $2,057,397
IRAs and Keogh plan accounts $28,761
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,395,648
Cash & Balances due from depository institutions $55,873
Interest-bearing balances $40,118
Total securities $926,941
Federal funds sold & reverse repurchase $9,500
Net loans and leases $1,261,239
Loan and leases loss allowance $20,925
Trading account assets $0
Bank premises and fixed assets $40,040
Other real estate owned $254
Goodwill and other intangibles $30,801
All other assets $71,000

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,395,648
Total Liabilities $2,181,115
Total deposits $2,159,168
Interest-bearing deposits $1,541,172
Deposits held in domestic offices $2,159,168
% insured (estimated) $90
Federal funds purchased and repurchase agreements $9,753
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $12,194

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,261,239
Loan and leases loss allowance $20,925
Total loans and leases (domestic) $1,282,164
All real estate loans $983,534
Real estate loans in domestic offices $983,534
Construction and development loans $196,116
Residential 1-4 family construction $90,924
Other construction, all land development and other land $105,192
Loans secured by nonfarm nonresidential properties $350,372
Nonfarm nonresidential secured by owner-occupied properties $221,917
Commercial real estate & other non-farm, non-residential $128,455
Multifamily residential real estate $9,981
1-4 family residential loans $388,257
Farmland loans $38,808
Loans held in foreign offices $0
Farm loans $36,063
Commercial and industrial loans $198,949
To non-U.S. addressees $0
Loans to individuals $43,080
Credit card loans $0
Related Plans $1,844
Consumer Auto Loans $10,000
Other loans to individuals $31,236
All other loans & leases $26,912
Loans to foreign governments and official institutions $0
Other loans $2,973
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 $911
Non 1-4 family restructured loans & leases $683
Total loans and leases (foreign) $0

River Bank & Trust had $1,261,239,000 of loans outstanding in 2021. $983,534,000 of loans were in real estate loans. $196,116,000 of loans were in development loans. $9,981,000 of loans were in multifamily mortgage loans. $388,257,000 of loans were in 1-4 family mortgage loans. $36,063,000 of loans were in farm loans. $0 of loans were in credit card loans. $10,000,000 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 773 $175,621 $227,194
Nonfarm, nonresidential loans - <$100k 184 $10,098 $54,880
Nonfarm, nonresidential loans - $100-250k 259 $38,737 $149,564
Nonfarm, nonresidential loans - $250k-1MM 330 $126,786 $384,200
Commercial & Industrial, US addressed loans - <$1MM 2,215 $130,527 $58,929
Commercial & Industrial, US addressed loans - <$100k 1,780 $49,973 $28,075
Commercial & Industrial, US addressed loans - $100-250k 279 $33,447 $119,882
Commercial & Industrial, US addressed loans - $250k-1MM 156 $47,107 $301,968
Farmland loans - <$1MM 62 $9,430 $152,097
Farmland loans - <$100k 27 $1,355 $50,185
Farmland loans - $100-250k 20 $2,815 $140,750
Farmland loans - $250k-1MM 15 $5,260 $350,667
Agriculture operations loans - <$1MM 116 $10,896 $93,931
Agriculture operations loans - <$100k 74 $1,888 $25,514
Agriculture operations loans - $100-250k 29 $4,864 $167,724
Agriculture operations loans - $250k-1MM 13 $4,144 $318,769