Security First Bank Mortgage Rates, Fees & Info
Lincoln, NELEI: 549300BZTITCLMZ3TL46
Tax ID: 47-0299375
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Review & 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 by origination volume include: Lincoln, Rapid City, Bloomington, Omaha, and Beatrice among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)Security First 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. Security First 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 | 6.53% | 12/16/24 |
| 30 Year Conventional Refi | 6.54% | 12/16/24 |
| 30 Year Cash-out Refi | 6.58% | 12/16/24 |
| 30 Year FHA Purchase | 6.27% | 12/16/24 |
| 30 Year VA Purchase | 5.56% | 12/16/24 |
| 30 Year USDA Purchase | 6.27% | 12/16/24 |
| 15 Year Conventional Purchase | 6.25% | 12/16/24 |
| 15 Year Conventional Refi | 6.36% | 12/16/24 |
| 15 Year Cash-out Refi | 6.36% | 12/16/24 |
| 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. | ||
Security First Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
631Origination Dollar Volume (All Markets)
$159,625,000Employee count
263Awards
Security First Bank - 2021
Security First Bank is a 2021 , due to their low .
For 2021, 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 |
|---|---|---|---|---|---|
| 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against Security First 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 625 | $158,185,000 | $253,096 | $1,872 | 3.35% |
| VA | 6 | $1,440,000 | $240,000 | $4,571 | 2.46% |
For 2021, Security First Bank's most frequently originated type of loan was Conventional, with 625 originations. Their 2nd most popular type was VA, with 6 originations.
Loan Reason
For 2021, Security First Bank's most frequently cited loan purpose was Home Purchase, with 318 originations. The 2nd most popular reason was Refi, with 192 originations.
Loan Duration/Length
For 2021, Security First Bank's most frequently cited loan duration was 30 Year, with 354 originations. The 2nd most popular length was 15 Year, with 77 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 486 | $89,140,000 | $183,416 |
| $1k-2k | 3 | $1,515,000 | $505,000 |
Security First Bank's average total fees were $1,992, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 486 originations.
Interest Rates
During 2021, Security First Bank's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 2.5-3%, with 229 originations.
Loan Sizing
2021 saw Security First Bank place emphasis on $100k-200k loans with 255 originations, totaling $37,745,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications95.92%
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 origination88.59%
Security First Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 631 | $159,625,000 | $252,971 |
LTV Distribution
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 | 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 | 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 | 5430 Sheridan Lake Rd. Rapid City, SD 57702 | Full Service B&M | $38,616 |
| 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 |