Rio Bank Mortgage Rates, Fees & Info
McAllen, TXLEI: 5493007MVCEU8QCNWC60
Tax ID: 74-2331408
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Mortgage Data
Bank Data
Review & Overview
Rio Bank is a smaller bank specializing in Home Purchase and Refi loans. Rio Bank has a high proportion of conventional loans. Their top markets by origination volume include: Mcallen, Brownsville, San Antonio, Houston, and Rio Grande City among others. We have data for 5 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.
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Originations
73Origination Dollar Volume (All Markets)
$21,375,000Employee count
186Top 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) | 53 | $12,585,000 | $237,453 | $0 | 0.00% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 15 | $7,595,000 | $506,333 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| Rio Grande City-Roma, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 73 | $21,375,000 | $292,808 | $0 | 0.00% |
For 2020, Rio Bank's most frequently originated type of loan was Conventional, with 73 originations.
Loan Reason
For 2020, Rio Bank's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 73 | $21,375,000 | $292,808 | $0 | 0.00% |
For 2020, Rio Bank's most frequently cited loan duration was Other, with 73 originations.
Loan Sizing
2020 saw Rio Bank place emphasis on $100,000 or less loans with 30 originations, totaling $1,780,000 in origination value.
Applicant Income
Rio Bank lent most frequently to those with incomes in the $250k+ range, with 11 originations. The second most popular income band? $100k-150k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 73 | $21,375,000 | $292,808 | $0 | 0.00% |
Rio Bank lent most frequently to those with DTI ratios of Exempt%, with 73 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 20 | $12,880,000 | $644,000 | $0 | 0.00% |
| White | 53 | $8,495,000 | $160,283 | $0 | 0.00% |
Approval Rates
Total approvals of all applications87.27%
Rio Bank has an average approval rate.
Pick Rate
Approvals leading to origination69.86%
Rio Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 73 | $21,375,000 | $292,808 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Rio Bank | 1000 N. Westgate Drive Weslaco, TX 78596 | Full Service B&M | $51,671 |
| Rio Bank | 1655 North 23rd Street Mcallen, TX 78502 | Full Service B&M | $174,547 |
| Rio Bank | 300 West Edinburg Avenue Elsa, TX 78543 | Full Service B&M | $42,480 |
| Rio Bank | 3124 E. Business 83 Weslaco, TX 78596 | Full Service B&M | $37,335 |
| Rio Bank | 3401 Old Hwy. 77 Brownsville, TX 78520 | Full Service B&M | $31,353 |
| Rio Bank | 401 North Bentsen Palm Drive Mission, TX 78572 | Full Service B&M | $36,715 |
| Rio Bank | 401 West Fm 495 San Juan, TX 78589 | Full Service B&M | $33,997 |
| Rio Bank | 4120 N. Mccoll Road Mcallen, TX 78504 | Full Service B&M | $27,124 |
| Rio Bank | 442 W Santa Rosa Ave Edcouch, TX 78538 | Limited, Drive-thru | $8,236 |
| Rio Bank | 47 East Grant Street Roma, TX 78584 | Full Service B&M | $17,184 |
| Rio Bank | 601 S Stuart Place Rd Harlingen, TX 78552 | Full Service B&M | $29,265 |
| Rio Bank | 621 West University Edinburg, TX 78539 | Full Service B&M | $26,954 |
| Rio Bank | 712 West Main Rio Grande City, TX 78582 | Full Service B&M | $39,952 |
| Rio Bank | 720 E. Jackson Ave. Mcallen, TX 78501 | Full Service B&M | $16,065 |
For 2020, Rio Bank had 14 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $26,921 |
| Net interest income | $23,520 |
| Total noninterest income | $5,847 |
| Gross Fiduciary activities income | $133 |
| Service charges on deposit accounts | $2,284 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,430 |
| Pre-tax net operating income | $5,914 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,716 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,716 |
| Minority interest net income | $0 |
| Net income | $4,716 |
| Sale, conversion, retirement of capital stock, net | $5,361 |
| Net operating income | $4,716 |
Rio Bank's gross interest income from loans was $26,921,000.
Rio Bank's net interest income from loans was $23,520,000.
Rio Bank's fee based income from loans was $2,284,000.
Rio Bank's net income from loans was $4,716,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,401 |
| Provision for credit losses | $2,100 |
| Total noninterest expense | $21,353 |
| Salaries and employee benefits | $11,109 |
| Premises and equipment expense | $3,179 |
| Additional noninterest expense | $7,065 |
| Applicable income taxes | $1,198 |
| Net charge-offs | $1,506 |
| Cash dividends | $2,300 |
Rio Bank's interest expense for loans was $3,401,000.
Rio Bank's payroll and benefits expense were $11,109,000.
Rio Bank's property, plant and equipment expenses $3,179,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 1.0% |
| Nonfarm, nonresidential loans | 3.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 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 | $584,717 |
| Deposits held in domestic offices | $584,717 |
| Deposits by Individuals, partnerships, and corporations | $542,698 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $27,516 |
| Deposits by Commercial banks and other depository institutions in U.S. | $14,503 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $265,319 |
| Demand deposits | $225,817 |
| Nontransaction accounts | $319,398 |
| Money market deposit accounts (MMDAs) | $212,265 |
| Other savings deposits (excluding MMDAs) | $33,468 |
| Total time deposits | $73,665 |
| Total time and savings deposits | $358,900 |
| Noninterest-bearing deposits | $225,817 |
| Interest-bearing deposits | $358,900 |
| Retail deposits | $570,308 |
| IRAs and Keogh plan accounts | $8,530 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $667,998 |
| Cash & Balances due from depository institutions | $33,616 |
| Interest-bearing balances | $19,693 |
| Total securities | $164,712 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $381,563 |
| Loan and leases loss allowance | $3,846 |
| Trading account assets | $5,525 |
| Bank premises and fixed assets | $51,841 |
| Other real estate owned | $1,600 |
| Goodwill and other intangibles | $8,696 |
| All other assets | $20,445 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $667,998 |
| Total Liabilities | $597,489 |
| Total deposits | $584,717 |
| Interest-bearing deposits | $358,900 |
| Deposits held in domestic offices | $584,717 |
| % insured (estimated) | $70 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,589 |
| Subordinated debt | $0 |
| All other liabilities | $2,183 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $381,563 |
| Loan and leases loss allowance | $3,846 |
| Total loans and leases (domestic) | $385,409 |
| All real estate loans | $267,676 |
| Real estate loans in domestic offices | $267,676 |
| Construction and development loans | $33,373 |
| Residential 1-4 family construction | $5,007 |
| Other construction, all land development and other land | $28,366 |
| Loans secured by nonfarm nonresidential properties | $150,478 |
| Nonfarm nonresidential secured by owner-occupied properties | $62,210 |
| Commercial real estate & other non-farm, non-residential | $88,268 |
| Multifamily residential real estate | $10,421 |
| 1-4 family residential loans | $45,473 |
| Farmland loans | $27,931 |
| Loans held in foreign offices | $0 |
| Farm loans | $4,129 |
| Commercial and industrial loans | $107,548 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $6,027 |
| Credit card loans | $0 |
| Related Plans | $139 |
| Consumer Auto Loans | $928 |
| Other loans to individuals | $4,960 |
| All other loans & leases | $29 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $25 |
| 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 $381,563,000 of loans outstanding in 2020. $267,676,000 of loans were in real estate loans. $33,373,000 of loans were in development loans. $10,421,000 of loans were in multifamily mortgage loans. $45,473,000 of loans were in 1-4 family mortgage loans. $4,129,000 of loans were in farm loans. $0 of loans were in credit card loans. $928,000 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 | 433 | $145,378 | $335,746 |
| Nonfarm, nonresidential loans - <$100k | 105 | $530 | $5,048 |
| Nonfarm, nonresidential loans - $100-250k | 146 | $20,002 | $137,000 |
| Nonfarm, nonresidential loans - $250k-1MM | 182 | $124,846 | $685,967 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,087 | $107,548 | $98,940 |
| Commercial & Industrial, US addressed loans - <$100k | 886 | $22,836 | $25,774 |
| Commercial & Industrial, US addressed loans - $100-250k | 101 | $12,838 | $127,109 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 100 | $71,874 | $718,740 |
| Farmland loans - <$1MM | 104 | $10,351 | $99,529 |
| Farmland loans - <$100k | 46 | $2,330 | $50,652 |
| Farmland loans - $100-250k | 41 | $4,611 | $112,463 |
| Farmland loans - $250k-1MM | 17 | $3,410 | $200,588 |
| Agriculture operations loans - <$1MM | 31 | $1,489 | $48,032 |
| Agriculture operations loans - <$100k | 20 | $488 | $24,400 |
| Agriculture operations loans - $100-250k | 8 | $610 | $76,250 |
| Agriculture operations loans - $250k-1MM | 3 | $391 | $130,333 |