Red River Bank Mortgage Rates, Fees & Info
Alexandria, LALEI: 5493006QG55R8V712J33
Tax ID: 72-1426574
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Review & Overview
Red River Bank is a smaller bank specializing in Home Purchase and Refi loans. Red River Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Alexandria, Shreveport, Baton Rouge, Lake Charles, and New Orleans among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)Red River 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. Red River 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.40% | 12/3/24 |
30 Year Conventional Refi | 6.44% | 12/3/24 |
30 Year Cash-out Refi | 6.65% | 12/3/24 |
30 Year FHA Purchase | 7.05% | 12/3/24 |
30 Year FHA Refi | 6.72% | 12/3/24 |
30 Year VA Purchase | 6.03% | 12/3/24 |
30 Year USDA Purchase | 6.34% | 12/3/24 |
15 Year Conventional Purchase | 6.29% | 12/3/24 |
15 Year Conventional Refi | 6.23% | 12/3/24 |
15 Year Cash-out Refi | 6.23% | 12/3/24 |
15 Year VA Refi | 5.95% | 12/3/24 |
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. |
Red River Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
985Origination Dollar Volume (All Markets)
$205,415,000Employee count
320 Show all (10) awardsRed River Bank - 2018
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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 |
---|---|---|---|---|---|
ALEXANDRIA, LA (FHA|USDA|VA) | 443 | $72,105,000 | $162,765 | $2,806 | 4.87% |
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 251 | $49,715,000 | $198,068 | $3,394 | 4.70% |
BATON ROUGE, LA (FHA|USDA|VA) | 147 | $43,835,000 | $298,197 | $3,179 | 4.75% |
LAKE CHARLES, LA (FHA|USDA|VA) | 23 | $7,755,000 | $337,174 | $2,787 | 4.65% |
Outside of Metro Areas | 52 | $7,720,000 | $148,462 | $3,308 | 4.79% |
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 14 | $6,580,000 | $470,000 | $2,702 | 4.70% |
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 8 | $4,660,000 | $582,500 | $2,863 | 4.36% |
Natchitoches, LA (FHA|USDA|VA) | 6 | $2,460,000 | $410,000 | $1,903 | 4.53% |
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $5,097 | 4.38% |
HOUMA-THIBODAUX, LA (FHA|USDA|VA) | 2 | $1,060,000 | $530,000 | $0 | 5.56% |
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $1,030,000 | $515,000 | $1,204 | 4.25% |
LAFAYETTE, LA (FHA|USDA|VA) | 7 | $945,000 | $135,000 | $3,310 | 4.63% |
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $4,040 | 4.63% |
Fort Polk South, LA (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $7,817 | 4.13% |
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $2,408 | 5.00% |
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $1,027 | 4.56% |
Minden, LA (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,950 | 4.56% |
HAMMOND, LA (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $5,807 | 4.06% |
GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 5.63% |
MONROE, LA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 4.80% |
Warrensburg, MO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $11,883 | 4.25% |
HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $1,586 | 4.63% |
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,189 | 4.50% |
KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,455 | 4.13% |
JACKSON, MS (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,982 | 4.88% |
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $1,620 | 5.25% |
Key West, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,653 | 4.38% |
Palestine, TX (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,482 | 4.13% |
Roswell, NM (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $1,678 | 4.63% |
TERRE HAUTE, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $1,372 | 4.65% |
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,383 | 5.75% |
Oxford, MS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 4.95% |
Similar Lenders
We use machine learning to identify the top lenders compared against Red River Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, Red River Bank's most frequently originated type of loan was Conventional, with 798 originations. Their 2nd most popular type was FHA, with 119 originations.
Loan Reason
For 2018, Red River Bank's most frequently cited loan purpose was Home Purchase, with 647 originations. The 2nd most popular reason was Refi, with 236 originations.
Loan Duration/Length
For 2018, Red River Bank's most frequently cited loan duration was 30 Year, with 412 originations. The 2nd most popular length was Other, with 175 originations.
Origination Fees/Closing Costs
Red River Bank's average total fees were $4,283, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 739 originations.
Interest Rates
During 2018, Red River Bank's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 586 originations.
Loan Sizing
2018 saw Red River Bank place emphasis on $100k-200k loans with 341 originations, totaling $49,685,000 in origination value.
Applicant Income
Red River Bank lent most frequently to those with incomes in the $50k-75k range, with 166 originations. The second most popular income band? $100k-150k, with 146 originations.
Applicant Debt to Income Ratio
Red River Bank lent most frequently to those with DTI ratios of 20-30%, with 223 originations. The next most common DTI ratio? 30-36%, with 152 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.17%
Red River Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.94%
Red River Bank has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 985 | $205,415,000 | $208,543 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
Bank Name | Branch | Branch Type | Deposits (000's) |
---|---|---|---|
Red River Bank | 1020 Bridgewater Avenue Shreveport, LA 71106 | Full Service B&M | $38,671 |
Red River Bank | 1210 Wall Street Lecompte, LA 71346 | Full Service B&M | $45,279 |
Red River Bank | 12509 Highway 73 Geismar, LA 70734 | Full Service B&M | $19,324 |
Red River Bank | 1412 Centre Court Drive, Suite 101 Alexandria, LA 71301 | Full Service B&M | $633,529 |
Red River Bank | 14545 Wax Road Baton Rouge, LA 70818 | Full Service B&M | $31,939 |
Red River Bank | 1753 East 70th Shreveport, LA 71105 | Full Service B&M | $76,688 |
Red River Bank | 2591 South Acadian Thruway Baton Rouge, LA 70808 | Full Service B&M | $22,633 |
Red River Bank | 2931 East Texas Street Bossier City, LA 71111 | Full Service B&M | $11,311 |
Red River Bank | 3120 Highway 28 East Pineville, LA 71360 | Full Service B&M | $78,642 |
Red River Bank | 3300 Airline Drive Bossier City, LA 71111 | Full Service B&M | $38,302 |
Red River Bank | 3422 North Blvd. Alexandria, LA 71301 | Full Service B&M | $56,028 |
Red River Bank | 4112 Lake Street, Suite 200 Lake Charles, LA 70605 | Full Service B&M | $1,271 |
Red River Bank | 4292 Highway 112 Forest Hill, LA 71430 | Full Service B&M | $27,674 |
Red River Bank | 4425 Monroe Highway Pineville, LA 71360 | Full Service B&M | $53,781 |
Red River Bank | 447 East Tunica Drive Marksville, LA 71351 | Full Service B&M | $39,737 |
Red River Bank | 5063 Essen Lane Baton Rouge, LA 70809 | Full Service B&M | $22,671 |
Red River Bank | 5350 Jones Creek Road Baton Rouge, LA 70817 | Full Service B&M | $26,504 |
Red River Bank | 5631 Coliseum Boulevard Alexandria, LA 71303 | Full Service B&M | $41,904 |
Red River Bank | 571 Hwy 171 Stonewall, LA 71078 | Full Service B&M | $5,110 |
Red River Bank | 5868 Line Avenue Shreveport, LA 71106 | Full Service B&M | $38,268 |
Red River Bank | 600 Jackson Street Alexandria, LA 71301 | Full Service B&M | $16,757 |
Red River Bank | 601 Market Street Shreveport, LA 71101 | Full Service B&M | $113,685 |
Red River Bank | 9400 Old Hammond Highway Baton Rouge, LA 70898 | Full Service B&M | $137,221 |
For 2018, Red River Bank had 23 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $66,870 |
Net interest income | $59,300 |
Total noninterest income | $15,857 |
Gross Fiduciary activities income | $0 |
Service charges on deposit accounts | $4,836 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $11,021 |
Pre-tax net operating income | $28,798 |
Securities gains (or losses, -) | $-53 |
Income before extraordinary items | $23,371 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $23,371 |
Minority interest net income | $0 |
Net income | $23,371 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $23,413 |
Red River Bank's gross interest income from loans was $66,870,000.
Red River Bank's net interest income from loans was $59,300,000.
Red River Bank's fee based income from loans was $4,836,000.
Red River Bank's net income from loans was $23,371,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $7,570 |
Provision for credit losses | $1,990 |
Total noninterest expense | $44,369 |
Salaries and employee benefits | $26,094 |
Premises and equipment expense | $4,500 |
Additional noninterest expense | $13,775 |
Applicable income taxes | $5,374 |
Net charge-offs | $361 |
Cash dividends | $0 |
Red River Bank's interest expense for loans was $7,570,000.
Red River Bank's payroll and benefits expense were $26,094,000.
Red River Bank's property, plant and equipment expenses $4,500,000.
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 | 1.0% |
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 | $1,657,294 |
Deposits held in domestic offices | $1,657,294 |
Deposits by Individuals, partnerships, and corporations | $1,489,976 |
Deposits by U.S. Government | $0 |
Deposits by States and political subdivisions in the U.S. | $163,955 |
Deposits by Commercial banks and other depository institutions in U.S. | $3,363 |
Deposits by Banks in foreign countries | $0 |
Deposits by Foreign governments and official institutions | $0 |
Transaction accounts | $183,437 |
Demand deposits | $57,959 |
Nontransaction accounts | $1,473,857 |
Money market deposit accounts (MMDAs) | $358,574 |
Other savings deposits (excluding MMDAs) | $777,055 |
Total time deposits | $338,228 |
Total time and savings deposits | $1,599,335 |
Noninterest-bearing deposits | $551,591 |
Interest-bearing deposits | $1,105,703 |
Retail deposits | $1,567,340 |
IRAs and Keogh plan accounts | $35,519 |
Brokered deposits | $0 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $1,860,011 |
Cash & Balances due from depository institutions | $151,906 |
Interest-bearing balances | $117,836 |
Total securities | $311,698 |
Federal funds sold & reverse repurchase | $0 |
Net loans and leases | $1,318,818 |
Loan and leases loss allowance | $12,524 |
Trading account assets | $0 |
Bank premises and fixed assets | $39,690 |
Other real estate owned | $646 |
Goodwill and other intangibles | $1,546 |
All other assets | $35,707 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $1,860,011 |
Total Liabilities | $1,667,255 |
Total deposits | $1,657,294 |
Interest-bearing deposits | $1,105,703 |
Deposits held in domestic offices | $1,657,294 |
% insured (estimated) | $79 |
Federal funds purchased and repurchase agreements | $0 |
Trading liabilities | $0 |
Other borrowed funds | $0 |
Subordinated debt | $0 |
All other liabilities | $9,961 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $1,318,818 |
Loan and leases loss allowance | $12,524 |
Total loans and leases (domestic) | $1,331,342 |
All real estate loans | $967,424 |
Real estate loans in domestic offices | $967,424 |
Construction and development loans | $102,868 |
Residential 1-4 family construction | $22,979 |
Other construction, all land development and other land | $79,889 |
Loans secured by nonfarm nonresidential properties | $421,344 |
Nonfarm nonresidential secured by owner-occupied properties | $260,793 |
Commercial real estate & other non-farm, non-residential | $160,551 |
Multifamily residential real estate | $24,055 |
1-4 family residential loans | $409,867 |
Farmland loans | $9,290 |
Loans held in foreign offices | $0 |
Farm loans | $5,749 |
Commercial and industrial loans | $254,924 |
To non-U.S. addressees | $0 |
Loans to individuals | $27,933 |
Credit card loans | $751 |
Related Plans | $2,035 |
Consumer Auto Loans | $6,207 |
Other loans to individuals | $18,940 |
All other loans & leases | $75,312 |
Loans to foreign governments and official institutions | $0 |
Other loans | $15,208 |
Loans to depository institutions and acceptances of other banks | $0 |
Loans not secured by real estate | $1,934 |
Loans secured by real estate to non-U.S. addressees | $187 |
Restructured Loans & leases | $1,572 |
Non 1-4 family restructured loans & leases | $1,364 |
Total loans and leases (foreign) | $0 |
Red River Bank had $1,318,818,000 of loans outstanding in 2018. $967,424,000 of loans were in real estate loans. $102,868,000 of loans were in development loans. $24,055,000 of loans were in multifamily mortgage loans. $409,867,000 of loans were in 1-4 family mortgage loans. $5,749,000 of loans were in farm loans. $751,000 of loans were in credit card loans. $6,207,000 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 | 490 | $127,434 | $260,069 |
Nonfarm, nonresidential loans - <$100k | 93 | $4,219 | $45,366 |
Nonfarm, nonresidential loans - $100-250k | 152 | $20,022 | $131,724 |
Nonfarm, nonresidential loans - $250k-1MM | 245 | $103,193 | $421,196 |
Commercial & Industrial, US addressed loans - <$1MM | 1,608 | $110,417 | $68,667 |
Commercial & Industrial, US addressed loans - <$100k | 1,174 | $26,864 | $22,882 |
Commercial & Industrial, US addressed loans - $100-250k | 268 | $28,936 | $107,970 |
Commercial & Industrial, US addressed loans - $250k-1MM | 166 | $54,617 | $329,018 |
Farmland loans - <$1MM | 56 | $6,489 | $115,875 |
Farmland loans - <$100k | 25 | $1,161 | $46,440 |
Farmland loans - $100-250k | 19 | $2,148 | $113,053 |
Farmland loans - $250k-1MM | 12 | $3,180 | $265,000 |
Agriculture operations loans - <$1MM | 59 | $3,128 | $53,017 |
Agriculture operations loans - <$100k | 42 | $1,046 | $24,905 |
Agriculture operations loans - $100-250k | 14 | $1,456 | $104,000 |
Agriculture operations loans - $250k-1MM | 3 | $626 | $208,667 |