Security First Bank Mortgage Rates, Fees & Info

Lincoln, NE

LEI: 549300BZTITCLMZ3TL46

Tax ID: 47-0299375

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Security First Bank is a smaller bank specializing in Home Purchase loans. Security First Bank has a high proportion of conventional loans. Their top markets include Lincoln, Rapid City, Bloomington, Omaha, and Beatrice among others. Security First Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Security First Bank is typically a low fee lendor.


Originations

631

Origination Dollar Volume (All Markets)

$159,625,000

Employee count

263 Show all (9) awards

Relative Rate

Security First Bank's average 30 year fixed rate mortgage of loans were 3.07%.

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

This yields a difference of -0.08%.

Relative Fees

Security First Bank's average total fees for a 30 year fixed rate mortgage are $1,992.

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
LINCOLN, NE (FHA|USDA|VA) 250 $66,950,000 $267,800 $1,940 3.14%
Outside of Metro Areas 167 $20,975,000 $125,599 $1,857 3.47%
RAPID CITY, SD (FHA|USDA|VA) 53 $20,485,000 $386,509 $2,417 3.51%
BLOOMINGTON, IL (FHA|USDA|VA) 2 $15,070,000 $7,535,000 $1,870 3.28%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 38 $13,270,000 $349,211 $2,028 3.10%
Beatrice, NE (FHA|USDA|VA) 45 $5,925,000 $131,667 $1,632 3.61%
Lexington, NE (FHA|USDA|VA) 38 $5,030,000 $132,368 $1,637 3.70%
CASPER, WY (FHA|USDA|VA) 2 $2,020,000 $1,010,000 $0 3.63%
Kearney, NE (FHA|USDA|VA) 7 $1,605,000 $229,286 $1,655 3.23%
Gillette, WY (FHA|USDA|VA) 1 $1,575,000 $1,575,000 $0 3.50%
FORT COLLINS, CO (FHA|USDA|VA) 2 $900,000 $450,000 $1,958 3.81%
Spearfish, SD (FHA|USDA|VA) 2 $750,000 $375,000 $2,618 2.94%
Hastings, NE (FHA|USDA|VA) 3 $635,000 $211,667 $2,164 4.21%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $500,000 $250,000 $1,882 2.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $445,000 $445,000 $5,932 2.75%
Durango, CO (FHA|USDA|VA) 1 $425,000 $425,000 $515 4.00%
Fremont, NE (FHA|USDA|VA) 2 $350,000 $175,000 $1,891 3.06%
LAWRENCE, KS (FHA|USDA|VA) 1 $335,000 $335,000 $2,496 2.88%
North Platte, NE (FHA|USDA|VA) 3 $315,000 $105,000 $1,651 3.83%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $265,000 $265,000 $0 4.25%
Scottsbluff, NE (FHA|USDA|VA) 1 $265,000 $265,000 $3,104 2.63%
AMARILLO, TX (FHA|USDA|VA) 2 $250,000 $125,000 $1,922 3.63%
SAVANNAH, GA (FHA|USDA|VA) 1 $245,000 $245,000 $2,502 2.75%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $225,000 $225,000 $2,383 2.88%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $215,000 $215,000 $1,093 2.63%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $205,000 $205,000 $3,108 3.25%
Vernon, TX (FHA|USDA|VA) 1 $175,000 $175,000 $1,967 3.88%
GAINESVILLE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,895 2.88%
MANHATTAN, KS (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.25%

Security First Bank's top markets include Lincoln, Rapid City, Bloomington, Omaha, and Beatrice among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 625 $158,185,000 $253,096 $1,872 3.35%
VA 6 $1,440,000 $240,000 $4,571 2.46%

For the 2021 period, Security First Bank's most frequently originated loan type of loans were Conventional, with 625 originations. Their 2nd most popular type is VA, with 6 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 318 $103,360,000 $325,031 $2,005 3.46%
Refi 192 $31,710,000 $165,156 $1,644 3.47%
Cash Out Refi 111 $22,815,000 $205,541 $2,055 2.72%
Home Improvement 10 $1,740,000 $174,000 $1,388 3.66%

For the 2021, Security First Bank's most frequently cited loan purpose of loans were Home Purchase, with 318 originations. The 2nd most popular reason of loans were Refi, with 192 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 354 $70,060,000 $197,910 $1,992 3.07%
15 Year 77 $12,145,000 $157,727 $1,859 2.69%
Other 76 $35,540,000 $467,632 $0 4.29%
10 Year 43 $24,985,000 $581,047 $1,314 3.65%
20 Year 33 $3,685,000 $111,667 $1,749 3.53%
1 Year 28 $5,520,000 $197,143 $1,339 4.77%
5 Year 19 $7,455,000 $392,368 $0 3.99%
3 Year 1 $235,000 $235,000 $0 3.95%

For the 2021, Security First Bank's most frequently cited loan length of loans were 30 Year, with 354 originations. The 2nd most popular length of loans were 15 Year, with 77 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 486 $89,140,000 $183,416
$1k-2k 3 $1,515,000 $505,000

$1,992 of loans were Security First Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 486 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 229 $46,725,000 $204,039
3-4% 220 $83,690,000 $380,409
4-5% 86 $13,680,000 $159,070
<2.5% 85 $15,095,000 $177,588
5-6% 6 $310,000 $51,667
6-7% 5 $125,000 $25,000

During 2021, Security First Bank's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 2.5-3%, with 229 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 255 $37,745,000 $148,020 $1,834 3.27%
$200k-400k 181 $48,575,000 $268,370 $2,113 3.08%
$100,000 or less 150 $9,280,000 $61,867 $1,614 3.73%
$400k-600k 30 $14,490,000 $483,000 $2,475 3.34%
$1MM+ 13 $47,895,000 $3,684,231 $0 3.56%
$600k-1MM 2 $1,640,000 $820,000 $3,164 4.05%

2021 saw Security First Bank place emphasis on $100k-200k loans with 255 originations, totaling $37,745,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 123 $18,955,000 $154,106 $1,964 3.29%
$100k-150k 119 $26,265,000 $220,714 $2,004 3.05%
$50k or less 114 $11,960,000 $104,912 $1,683 3.51%
$75k-100k 107 $18,325,000 $171,262 $1,955 3.20%
$150k-250k 51 $15,195,000 $297,941 $2,015 2.96%
$250k+ 20 $5,410,000 $270,500 $1,767 3.67%

Security First Bank lent most frequently to those with incomes in the $50k-75k range, with 123 originations. The second most popular income band? $100k-150k, with 119 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 140 $25,330,000 $180,929 $1,923 3.04%
30-36% 103 $16,515,000 $160,340 $1,946 3.25%
<20% 74 $8,450,000 $114,189 $1,660 3.24%
41% 23 $4,845,000 $210,652 $1,882 3.24%
42% 22 $5,620,000 $255,455 $2,269 2.97%
39% 21 $3,355,000 $159,762 $1,873 2.98%
>60% 18 $4,440,000 $246,667 $1,387 4.32%
38% 16 $2,680,000 $167,500 $2,036 3.23%
40% 16 $3,280,000 $205,000 $1,912 3.24%
37% 15 $3,405,000 $227,000 $1,903 3.48%
44% 14 $3,830,000 $273,571 $2,504 3.26%
36% 14 $2,750,000 $196,429 $1,769 3.48%
48% 14 $3,480,000 $248,571 $1,985 3.12%
43% 10 $2,170,000 $217,000 $1,793 2.54%
46% 7 $1,705,000 $243,571 $2,100 2.86%
47% 7 $1,485,000 $212,143 $2,012 2.98%
50-60% 7 $1,115,000 $159,286 $1,906 4.11%
49% 5 $875,000 $175,000 $2,084 3.03%
45% 5 $855,000 $171,000 $1,630 3.33%

Security First Bank lent most frequently to those with DTI ratios of 20-30%, with 140 originations. The next most common DTI ratio? 30-36%, with 103 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 507 $91,215,000 $179,911 $1,896 3.25%
Not applicable 87 $62,115,000 $713,966 $0 3.92%
Not provided 20 $3,780,000 $189,000 $2,090 3.02%
Asian 7 $1,325,000 $189,286 $2,059 2.93%
American Indian 5 $565,000 $113,000 $2,028 3.13%
Black 4 $490,000 $122,500 $1,874 3.78%
Native Hawaiian 1 $135,000 $135,000 $1,504 2.88%

Approval Rates

Total approvals of all applications
96.31%

Security First Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
89.81%

Security First Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 631 $159,625,000 $252,971

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
631 $159,625,000 $252,971

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 34 $6,860,000 $201,765 $1,608 3.32%
40-60% 96 $25,610,000 $266,771 $1,756 3.36%
60-80% 305 $86,495,000 $283,590 $1,887 3.35%
80-100% 169 $35,885,000 $212,337 $1,982 3.17%
Over 100% 13 $2,555,000 $196,538 $7,975 3.97%
Under 20% 14 $2,220,000 $158,571 $1,618 4.53%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Security National Financial Corp Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
Security National Financial Corp Conventional home mortgage Closing on a mortgage 1 7.1%
Security National Financial Corp Conventional home mortgage Incorrect information on your report 1 7.1%
Security National Financial Corp Conventional home mortgage Trouble during payment process 5 35.7%
Security National Financial Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
Security National Financial Corp FHA mortgage Trouble during payment process 2 14.3%
Security National Financial Corp Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 14.3%
Security National Financial Corp VA mortgage Closing on a mortgage 1 7.1%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Security First Bank 5430 Sheridan Lake Rd. Rapid City, SD 57702 Full Service B&M $38,616
Security First Bank 1900 East Court Street Beatrice, NE 68310 Limited, Drive-thru $0
Security First Bank 201 Smith Avenue Elwood, NE 68937 Full Service B&M $20,033
Security First Bank 2301 North 6th Street Beatrice, NE 68310 Full Service B&M $15,845
Security First Bank 231 North Main Hay Springs, NE 69347 Full Service B&M $43,889
Security First Bank 253 North Main Valentine, NE 69201 Full Service B&M $118,551
Security First Bank 289 Main Street Harrison, NE 69346 Full Service B&M $22,082
Security First Bank 401 Third Avenue Martin, SD 57551 Full Service B&M $75,878
Security First Bank 403 Second Street Crawford, NE 69339 Full Service B&M $22,681
Security First Bank 4811 Van Dorn Lincoln, NE 68506 Limited, Mobile/Seasonal Office $0
Security First Bank 501 C Street Overton, NE 68863 Full Service B&M $15,310
Security First Bank 501 Quincy Street Rapid City, SD 57702 Full Service B&M $135,196
Security First Bank 502 Main Street Thedford, NE 69166 Full Service B&M $20,758
Security First Bank 525 Highway 77 Cortland, NE 68331 Full Service B&M $12,242
Security First Bank 101 East Broad Street Blue Springs, NE 68318 Full Service B&M $26,914
Security First Bank 101 East Second Street Rushville, NE 69360 Limited, Mobile/Seasonal Office $0
Security First Bank 102 East Second Street Rushville, NE 69360 Full Service B&M $99,199
Security First Bank 104 East Nebraska Avenue Cody, NE 69211 Full Service B&M $7,893
Security First Bank 111 N Mills Merriman, NE 69218 Full Service B&M $5,223
Security First Bank 120 North Sixth Street Beatrice, NE 68310 Full Service B&M $188,422
Security First Bank 1205 Jackson Street Sidney, NE 69162 Full Service B&M $79,452
Security First Bank 1300 Garret Lane Lincoln, NE 68512 Full Service B&M $17,897
Security First Bank 1328 West Highway 20 Chadron, NE 69337 Full Service B&M $24,744
Security First Bank 1540 Samco Road, Suite B Rapid City, SD 57702 Limited, Mobile/Seasonal Office $0
Security First Bank 1540 Samco Road, Suite B Rapid City, SD 57702 Full Service B&M $12,761
Security First Bank 160 Washington Street Clatonia, NE 68328 Full Service B&M $12,502
Security First Bank 5505 Red Rock Lane Lincoln, NE 68516 Full Service B&M $125,324
Security First Bank 818 Avenue F Cozad, NE 69130 Full Service B&M $24,962
Security First Bank 8260 Northwoods Drive Lincoln, NE 68505 Full Service B&M $15,482

For 2021, Security First Bank had 29 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $49,294
Net interest income $44,668
Total noninterest income $9,709
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,355
Trading account gains and fees $0
Additional Noninterest Income $8,354
Pre-tax net operating income $19,121
Securities gains (or losses, -) $390
Income before extraordinary items $15,604
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $15,604
Minority interest net income $0
Net income $15,604
Sale, conversion, retirement of capital stock, net $0
Net operating income $15,292

Security First Bank's gross interest income from loans was $49,294,000.
Security First Bank's net interest income from loans was $44,668,000.
Security First Bank's fee based income from loans was $1,355,000.
Security First Bank's net income from loans was $15,604,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,626
Provision for credit losses $500
Total noninterest expense $34,756
Salaries and employee benefits $20,984
Premises and equipment expense $3,298
Additional noninterest expense $10,474
Applicable income taxes $3,907
Net charge-offs $-21
Cash dividends $5,000

Security First Bank's interest expense for loans was $4,626,000.
Security First Bank's payroll and benefits expense were $20,984,000.
Security First Bank's property, plant and equipment expenses $3,298,000.

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 $1,266,033
Deposits held in domestic offices $1,266,033
Deposits by Individuals, partnerships, and corporations $1,105,815
Deposits by U.S. Government $16
Deposits by States and political subdivisions in the U.S. $153,810
Deposits by Commercial banks and other depository institutions in U.S. $6,392
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $803,036
Demand deposits $803,036
Nontransaction accounts $462,997
Money market deposit accounts (MMDAs) $121,568
Other savings deposits (excluding MMDAs) $126,655
Total time deposits $214,775
Total time and savings deposits $462,997
Noninterest-bearing deposits $278,275
Interest-bearing deposits $987,758
Retail deposits $1,223,588
IRAs and Keogh plan accounts $13,574
Brokered deposits $7,704
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,463,879
Cash & Balances due from depository institutions $203,999
Interest-bearing balances $175,877
Total securities $243,236
Federal funds sold & reverse repurchase $82
Net loans and leases $953,292
Loan and leases loss allowance $12,869
Trading account assets $9
Bank premises and fixed assets $27,258
Other real estate owned $0
Goodwill and other intangibles $11,081
All other assets $24,922

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,463,879
Total Liabilities $1,340,210
Total deposits $1,266,033
Interest-bearing deposits $987,758
Deposits held in domestic offices $1,266,033
% insured (estimated) $84
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $67,351
Subordinated debt $0
All other liabilities $6,826

Issued Loan Types

Type Value (in 000's)
Net loans and leases $953,292
Loan and leases loss allowance $12,869
Total loans and leases (domestic) $966,161
All real estate loans $619,573
Real estate loans in domestic offices $619,573
Construction and development loans $62,622
Residential 1-4 family construction $8,432
Other construction, all land development and other land $54,190
Loans secured by nonfarm nonresidential properties $236,624
Nonfarm nonresidential secured by owner-occupied properties $103,734
Commercial real estate & other non-farm, non-residential $132,890
Multifamily residential real estate $71,781
1-4 family residential loans $114,763
Farmland loans $133,783
Loans held in foreign offices $0
Farm loans $116,516
Commercial and industrial loans $82,068
To non-U.S. addressees $0
Loans to individuals $116,118
Credit card loans $0
Related Plans $357
Consumer Auto Loans $8,464
Other loans to individuals $107,297
All other loans & leases $31,886
Loans to foreign governments and official institutions $0
Other loans $15,002
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $12,647
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $619
Non 1-4 family restructured loans & leases $610
Total loans and leases (foreign) $0

Security First Bank had $953,292,000 of loans outstanding in 2021. $619,573,000 of loans were in real estate loans. $62,622,000 of loans were in development loans. $71,781,000 of loans were in multifamily mortgage loans. $114,763,000 of loans were in 1-4 family mortgage loans. $116,516,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,464,000 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 218 $46,418 $212,927
Nonfarm, nonresidential loans - <$100k 72 $2,785 $38,681
Nonfarm, nonresidential loans - $100-250k 67 $8,092 $120,776
Nonfarm, nonresidential loans - $250k-1MM 79 $35,541 $449,886
Commercial & Industrial, US addressed loans - <$1MM 687 $31,717 $46,167
Commercial & Industrial, US addressed loans - <$100k 546 $10,924 $20,007
Commercial & Industrial, US addressed loans - $100-250k 91 $7,958 $87,451
Commercial & Industrial, US addressed loans - $250k-1MM 50 $12,835 $256,700
Farmland loans - <$1MM 303 $42,084 $138,891
Farmland loans - <$100k 97 $3,974 $40,969
Farmland loans - $100-250k 120 $15,409 $128,408
Farmland loans - $250k-1MM 86 $22,701 $263,965
Agriculture operations loans - <$1MM 1,181 $58,041 $49,146
Agriculture operations loans - <$100k 870 $18,251 $20,978
Agriculture operations loans - $100-250k 210 $18,202 $86,676
Agriculture operations loans - $250k-1MM 101 $21,588 $213,743