Rio Bank Mortgage Rates, Fees & Info

McAllen, TX

LEI: 5493007MVCEU8QCNWC60

Tax ID: 74-2331408

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

Jump to:

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

    Rio Bank is a smaller bank specializing in Home Purchase loans. Rio Bank has a high proportion of conventional loans. Their top markets by origination volume include: Mcallen, Brownsville, and Rio Grande City among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Rio Bank has an average approval rate when compared to the average across all lenders. They have a below 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.

    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.


    Originations

    55

    Origination Dollar Volume (All Markets)

    $14,565,000

    Employee count

    183

    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
    MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 35 $9,345,000 $267,000 $0 0.00%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 17 $3,785,000 $222,647 $0 0.00%
    Rio Grande City-Roma, TX (FHA|USDA|VA) 3 $1,435,000 $478,333 $0 0.00%
    Rio Bank's top markets include Mcallen, Brownsville, and Rio Grande City among others.

    Their top states include:
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 55 $14,565,000 $264,818 $0 0.00%

    For 2019, Rio Bank's most frequently originated type of loan was Conventional, with 55 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 44 $12,030,000 $273,409 $0 0.00%
    Refi 6 $2,110,000 $351,667 $0 0.00%
    Home Improvement 2 $200,000 $100,000 $0 0.00%
    Cash Out Refi 2 $220,000 $110,000 $0 0.00%
    Other 1 $5,000 $5,000 $0 0.00%

    For 2019, Rio Bank's most frequently cited loan purpose was Home Purchase, with 44 originations. The 2nd most popular reason was Refi, with 6 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 55 $14,565,000 $264,818 $0 0.00%

    For 2019, Rio Bank's most frequently cited loan duration was Other, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 25 $3,875,000 $155,000 $0 0.00%
    $100,000 or less 13 $595,000 $45,769 $0 0.00%
    $200k-400k 8 $2,090,000 $261,250 $0 0.00%
    $1MM+ 4 $5,360,000 $1,340,000 $0 0.00%
    $400k-600k 4 $2,030,000 $507,500 $0 0.00%
    $600k-1MM 1 $615,000 $615,000 $0 0.00%

    2019 saw Rio Bank place emphasis on $100k-200k loans with 25 originations, totaling $3,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 7 $525,000 $75,000 $0 0.00%
    $100k-150k 6 $700,000 $116,667 $0 0.00%
    $150k-250k 4 $280,000 $70,000 $0 0.00%
    $75k-100k 4 $530,000 $132,500 $0 0.00%
    $250k+ 3 $2,535,000 $845,000 $0 0.00%
    $50k or less 1 $65,000 $65,000 $0 0.00%

    Rio Bank lent most frequently to those with incomes in the $50k-75k range, with 7 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 55 $14,565,000 $264,818 $0 0.00%

    Rio Bank lent most frequently to those with DTI ratios of Exempt%, with 55 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 24 $8,450,000 $352,083 $0 0.00%
    White 31 $6,115,000 $197,258 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.01%

    Rio Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.18%

    Rio Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 55 $14,565,000 $264,818

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $2,940,000 $1,470,000
    Multifamily:Site-Built 13 $4,365,000 $335,769
    Single Family (1-4 Units):Manufactured 2 $30,000 $15,000
    Single Family (1-4 Units):Site-Built 38 $7,230,000 $190,263

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Rio Bank 1000 N. Westgate Drive Weslaco, TX 78596 Full Service B&M $41,339
    Rio Bank 1655 North 23rd Street Mcallen, TX 78502 Full Service B&M $155,812
    Rio Bank 300 West Edinburg Avenue Elsa, TX 78543 Full Service B&M $42,438
    Rio Bank 3124 E. Business 83 Weslaco, TX 78596 Full Service B&M $30,146
    Rio Bank 3401 Old Hwy. 77 Brownsville, TX 78520 Full Service B&M $23,611
    Rio Bank 401 North Bentsen Palm Drive Mission, TX 78572 Full Service B&M $28,552
    Rio Bank 401 West Fm 495 San Juan, TX 78589 Full Service B&M $32,897
    Rio Bank 4120 N. Mccoll Road Mcallen, TX 78504 Full Service B&M $22,963
    Rio Bank 442 W Santa Rosa Ave Edcouch, TX 78538 Limited, Drive-thru $8,295
    Rio Bank 47 East Grant Street Roma, TX 78584 Full Service B&M $15,578
    Rio Bank 601 S Stuart Place Rd Harlingen, TX 78552 Full Service B&M $19,805
    Rio Bank 621 West University Edinburg, TX 78539 Full Service B&M $22,221
    Rio Bank 712 West Main Rio Grande City, TX 78582 Full Service B&M $33,239
    Rio Bank 720 E. Jackson Ave. Mcallen, TX 78501 Full Service B&M $10,270

    For 2019, Rio Bank had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,962
    Net interest income $23,756
    Total noninterest income $6,012
    Gross Fiduciary activities income $100
    Service charges on deposit accounts $2,848
    Trading account gains and fees $0
    Additional Noninterest Income $3,064
    Pre-tax net operating income $8,153
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,556
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,556
    Minority interest net income $0
    Net income $6,556
    Sale, conversion, retirement of capital stock, net $337
    Net operating income $6,556

    Rio Bank's gross interest income from loans was $28,962,000.
    Rio Bank's net interest income from loans was $23,756,000.
    Rio Bank's fee based income from loans was $2,848,000.
    Rio Bank's net income from loans was $6,556,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,206
    Provision for credit losses $495
    Total noninterest expense $21,120
    Salaries and employee benefits $11,661
    Premises and equipment expense $3,316
    Additional noninterest expense $6,143
    Applicable income taxes $1,597
    Net charge-offs $143
    Cash dividends $1,500

    Rio Bank's interest expense for loans was $5,206,000.
    Rio Bank's payroll and benefits expense were $11,661,000.
    Rio Bank's property, plant and equipment expenses $3,316,000.

    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 1.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $471,992
    Deposits held in domestic offices $471,992
    Deposits by Individuals, partnerships, and corporations $431,286
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $34,333
    Deposits by Commercial banks and other depository institutions in U.S. $6,373
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $184,927
    Demand deposits $153,408
    Nontransaction accounts $287,065
    Money market deposit accounts (MMDAs) $171,910
    Other savings deposits (excluding MMDAs) $27,261
    Total time deposits $87,893
    Total time and savings deposits $318,584
    Noninterest-bearing deposits $153,408
    Interest-bearing deposits $318,584
    Retail deposits $455,691
    IRAs and Keogh plan accounts $9,154
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $544,956
    Cash & Balances due from depository institutions $24,427
    Interest-bearing balances $12,658
    Total securities $118,797
    Federal funds sold & reverse repurchase $0
    Net loans and leases $333,210
    Loan and leases loss allowance $3,252
    Trading account assets $0
    Bank premises and fixed assets $41,802
    Other real estate owned $325
    Goodwill and other intangibles $9,180
    All other assets $17,215

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $544,956
    Total Liabilities $483,224
    Total deposits $471,992
    Interest-bearing deposits $318,584
    Deposits held in domestic offices $471,992
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $8,591
    Subordinated debt $0
    All other liabilities $2,641

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $333,210
    Loan and leases loss allowance $3,252
    Total loans and leases (domestic) $336,462
    All real estate loans $258,640
    Real estate loans in domestic offices $258,640
    Construction and development loans $38,350
    Residential 1-4 family construction $3,244
    Other construction, all land development and other land $35,106
    Loans secured by nonfarm nonresidential properties $144,763
    Nonfarm nonresidential secured by owner-occupied properties $66,322
    Commercial real estate & other non-farm, non-residential $78,441
    Multifamily residential real estate $7,616
    1-4 family residential loans $47,520
    Farmland loans $20,391
    Loans held in foreign offices $0
    Farm loans $4,688
    Commercial and industrial loans $65,292
    To non-U.S. addressees $0
    Loans to individuals $7,762
    Credit card loans $0
    Related Plans $240
    Consumer Auto Loans $1,433
    Other loans to individuals $6,089
    All other loans & leases $80
    Loans to foreign governments and official institutions $0
    Other loans $52
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Rio Bank had $333,210,000 of loans outstanding in 2019. $258,640,000 of loans were in real estate loans. $38,350,000 of loans were in development loans. $7,616,000 of loans were in multifamily mortgage loans. $47,520,000 of loans were in 1-4 family mortgage loans. $4,688,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,433,000 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 390 $71,841 $184,208
    Nonfarm, nonresidential loans - <$100k 118 $6,203 $52,568
    Nonfarm, nonresidential loans - $100-250k 151 $20,130 $133,311
    Nonfarm, nonresidential loans - $250k-1MM 121 $45,508 $376,099
    Commercial & Industrial, US addressed loans - <$1MM 662 $38,036 $57,456
    Commercial & Industrial, US addressed loans - <$100k 571 $14,953 $26,187
    Commercial & Industrial, US addressed loans - $100-250k 47 $5,386 $114,596
    Commercial & Industrial, US addressed loans - $250k-1MM 44 $17,697 $402,205
    Farmland loans - <$1MM 114 $13,369 $117,272
    Farmland loans - <$100k 49 $2,391 $48,796
    Farmland loans - $100-250k 44 $5,549 $126,114
    Farmland loans - $250k-1MM 21 $5,429 $258,524
    Agriculture operations loans - <$1MM 46 $2,667 $57,978
    Agriculture operations loans - <$100k 32 $939 $29,344
    Agriculture operations loans - $100-250k 8 $729 $91,125
    Agriculture operations loans - $250k-1MM 6 $999 $166,500