United Bank Of Union Mortgage Rates, Fees & Info
Union, MOLEI: 5493008WWKO0RD22RN65
Tax ID: 43-0560860
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Bank Data
Review & Overview
United Bank Of Union is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. United Bank Of Union has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: St. Louis, Springfield, Branson, and Joplin among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)United Bank Of Union 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. United Bank Of Union 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 | 6.49% | 9/1/24 |
30 Year Conventional Refi | 6.61% | 9/1/24 |
30 Year Cash-out Refi | 6.27% | 9/1/24 |
30 Year USDA Purchase | 7.19% | 9/1/24 |
15 Year Conventional Purchase | 5.76% | 9/1/24 |
15 Year Conventional Refi | 5.70% | 9/1/24 |
15 Year Cash-out Refi | 5.70% | 9/1/24 |
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. |
United Bank Of Union Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
625Origination Dollar Volume (All Markets)
$133,305,000Employee count
79 Show all (7) awardsUnited Bank of Union - 2020
United Bank of Union is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
---|---|---|---|---|---|
ST. LOUIS, MO-IL (FHA|USDA|VA) | 580 | $111,400,000 | $192,069 | $1,488 | 3.01% |
SPRINGFIELD, MO (FHA|USDA|VA) | 4 | $15,230,000 | $3,807,500 | $3,501 | 3.31% |
Outside of Metro Areas | 38 | $6,210,000 | $163,421 | $1,574 | 3.15% |
Branson, MO (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $1,354 | 2.88% |
JOPLIN, MO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,084 | 3.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against United Bank of Union based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 165
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 609 | $131,025,000 | $215,148 | $1,428 | 3.01% |
USDA | 16 | $2,280,000 | $142,500 | $3,946 | 3.15% |
For 2020, United Bank Of Union's most frequently originated type of loan was Conventional, with 609 originations. Their 2nd most popular type was USDA, with 16 originations.
Loan Reason
For 2020, United Bank Of Union's most frequently cited loan purpose was Refi, with 306 originations. The 2nd most popular reason was Cash Out Refi, with 165 originations.
Loan Duration/Length
For 2020, United Bank Of Union's most frequently cited loan duration was 30 Year, with 313 originations. The 2nd most popular length was 15 Year, with 139 originations.
Origination Fees/Closing Costs
Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
---|---|---|---|
$<1k | 548 | $101,780,000 | $185,730 |
$1k-2k | 6 | $1,840,000 | $306,667 |
United Bank Of Union's average total fees were $1,728, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 548 originations.
Interest Rates
During 2020, United Bank Of Union's average interest rate for loans was 3.02%, while their most frequently originated rate bucket for loans was 2.5-3%, with 313 originations.
Loan Sizing
2020 saw United Bank Of Union place emphasis on $100k-200k loans with 272 originations, totaling $39,170,000 in origination value.
Applicant Income
United Bank Of Union lent most frequently to those with incomes in the $100k-150k range, with 153 originations. The second most popular income band? $75k-100k, with 115 originations.
Applicant Debt to Income Ratio
United Bank Of Union lent most frequently to those with DTI ratios of 20-30%, with 205 originations. The next most common DTI ratio? <20%, with 142 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.66%
United Bank Of Union has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination93.12%
United Bank Of Union has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 625 | $133,305,000 | $213,288 |
Occupancy Type Mix
LTV Distribution
Complaints
Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 3 | 50.0% |
UNITED COMMUNITY BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 16.7% |
UNITED COMMUNITY BANK | Conventional home mortgage | Closing on a mortgage | 1 | 16.7% |
UNITED COMMUNITY BANK | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 16.7% |
Bank Details
Branches
Bank Name | Branch | Branch Type | Deposits (000's) |
---|---|---|---|
United Bank of Union | 1440 Rebel Road Union, MO 63084 | Full Service B&M | $50,969 |
United Bank of Union | 15 East Main Street Union, MO 63084 | Full Service B&M | $279,761 |
United Bank of Union | 210 Highway 50 West Union, MO 63084 | Full Service B&M | $24,657 |
For 2020, United Bank Of Union had 3 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $16,814 |
Net interest income | $14,292 |
Total noninterest income | $3,879 |
Gross Fiduciary activities income | $0 |
Service charges on deposit accounts | $391 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $3,488 |
Pre-tax net operating income | $7,326 |
Securities gains (or losses, -) | $154 |
Income before extraordinary items | $7,480 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $7,480 |
Minority interest net income | $0 |
Net income | $7,480 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $7,326 |
United Bank Of Union's gross interest income from loans was $16,814,000.
United Bank Of Union's net interest income from loans was $14,292,000.
United Bank Of Union's fee based income from loans was $391,000.
United Bank Of Union's net income from loans was $7,480,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $2,522 |
Provision for credit losses | $910 |
Total noninterest expense | $9,935 |
Salaries and employee benefits | $5,331 |
Premises and equipment expense | $984 |
Additional noninterest expense | $3,620 |
Applicable income taxes | $0 |
Net charge-offs | $778 |
Cash dividends | $4,552 |
United Bank Of Union's interest expense for loans was $2,522,000.
United Bank Of Union's payroll and benefits expense were $5,331,000.
United Bank Of Union's property, plant and equipment expenses $984,000.
Loan Performance
Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
---|---|
All loans | 2.0% |
Real Estate loans | 2.0% |
Construction & Land Development loans | 11.0% |
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 | $346,241 |
Deposits held in domestic offices | $346,241 |
Deposits by Individuals, partnerships, and corporations | $279,860 |
Deposits by U.S. Government | $1 |
Deposits by States and political subdivisions in the U.S. | $60,500 |
Deposits by Commercial banks and other depository institutions in U.S. | $5,880 |
Deposits by Banks in foreign countries | $0 |
Deposits by Foreign governments and official institutions | $0 |
Transaction accounts | $142,091 |
Demand deposits | $51,258 |
Nontransaction accounts | $204,150 |
Money market deposit accounts (MMDAs) | $27,668 |
Other savings deposits (excluding MMDAs) | $64,146 |
Total time deposits | $112,337 |
Total time and savings deposits | $294,983 |
Noninterest-bearing deposits | $51,258 |
Interest-bearing deposits | $294,983 |
Retail deposits | $313,898 |
IRAs and Keogh plan accounts | $19,771 |
Brokered deposits | $5,000 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $419,940 |
Cash & Balances due from depository institutions | $4,358 |
Interest-bearing balances | $1,204 |
Total securities | $72,077 |
Federal funds sold & reverse repurchase | $8,130 |
Net loans and leases | $316,164 |
Loan and leases loss allowance | $4,817 |
Trading account assets | $0 |
Bank premises and fixed assets | $11,826 |
Other real estate owned | $796 |
Goodwill and other intangibles | $1,206 |
All other assets | $5,383 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $419,940 |
Total Liabilities | $374,617 |
Total deposits | $346,241 |
Interest-bearing deposits | $294,983 |
Deposits held in domestic offices | $346,241 |
% insured (estimated) | $77 |
Federal funds purchased and repurchase agreements | $1,812 |
Trading liabilities | $0 |
Other borrowed funds | $25,750 |
Subordinated debt | $0 |
All other liabilities | $814 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $316,164 |
Loan and leases loss allowance | $4,817 |
Total loans and leases (domestic) | $320,981 |
All real estate loans | $256,528 |
Real estate loans in domestic offices | $256,528 |
Construction and development loans | $48,596 |
Residential 1-4 family construction | $19,122 |
Other construction, all land development and other land | $29,474 |
Loans secured by nonfarm nonresidential properties | $112,110 |
Nonfarm nonresidential secured by owner-occupied properties | $34,142 |
Commercial real estate & other non-farm, non-residential | $77,968 |
Multifamily residential real estate | $15,364 |
1-4 family residential loans | $72,175 |
Farmland loans | $8,283 |
Loans held in foreign offices | $0 |
Farm loans | $211 |
Commercial and industrial loans | $60,839 |
To non-U.S. addressees | $0 |
Loans to individuals | $3,014 |
Credit card loans | $0 |
Related Plans | $0 |
Consumer Auto Loans | $1,361 |
Other loans to individuals | $1,653 |
All other loans & leases | $390 |
Loans to foreign governments and official institutions | $0 |
Other loans | $0 |
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 | $1,975 |
Non 1-4 family restructured loans & leases | $1,975 |
Total loans and leases (foreign) | $0 |
United Bank of Union had $316,164,000 of loans outstanding in 2020. $256,528,000 of loans were in real estate loans. $48,596,000 of loans were in development loans. $15,364,000 of loans were in multifamily mortgage loans. $72,175,000 of loans were in 1-4 family mortgage loans. $211,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,361,000 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 | 143 | $27,215 | $190,315 |
Nonfarm, nonresidential loans - <$100k | 41 | $1,432 | $34,927 |
Nonfarm, nonresidential loans - $100-250k | 50 | $6,706 | $134,120 |
Nonfarm, nonresidential loans - $250k-1MM | 52 | $19,077 | $366,865 |
Commercial & Industrial, US addressed loans - <$1MM | 368 | $21,410 | $58,179 |
Commercial & Industrial, US addressed loans - <$100k | 228 | $3,923 | $17,206 |
Commercial & Industrial, US addressed loans - $100-250k | 92 | $7,126 | $77,457 |
Commercial & Industrial, US addressed loans - $250k-1MM | 48 | $10,361 | $215,854 |
Farmland loans - <$1MM | 16 | $1,372 | $85,750 |
Farmland loans - <$100k | 9 | $233 | $25,889 |
Farmland loans - $100-250k | 5 | $666 | $133,200 |
Farmland loans - $250k-1MM | 2 | $473 | $236,500 |
Agriculture operations loans - <$1MM | 6 | $211 | $35,167 |
Agriculture operations loans - <$100k | 5 | $159 | $31,800 |
Agriculture operations loans - $100-250k | 1 | $52 | $52,000 |