Cache Valley Bank Mortgage Rates, Fees & Info

Logan, UT

LEI: 549300CM7HYHZ1MEJ624

Tax ID: 87-0310100

5 stars - out of 5 stars, based on 33 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cache Valley Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Cache Valley Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Logan, Ogden, St. George, Salt Lake City, and Provo among others. Cache Valley 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. Cache Valley Bank is typically an average fee lendor.


Originations

1,091

Origination Dollar Volume (All Markets)

$374,695,000

Employee count

293 Show all (16) awards

Relative Rate

Cache Valley Bank's average 30 year fixed rate mortgage of loans were 2.93%.

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

This yields a difference of -0.22%.

Relative Fees

Cache Valley Bank's average total fees for a 30 year fixed rate mortgage are $3,388.

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
LOGAN, UT-ID (FHA|USDA|VA) 463 $141,015,000 $304,568 $3,046 2.95%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 189 $76,145,000 $402,884 $3,949 2.93%
ST. GEORGE, UT (FHA|USDA|VA) 200 $71,020,000 $355,100 $2,963 3.04%
Outside of Metro Areas 91 $25,335,000 $278,407 $3,188 3.04%
SALT LAKE CITY, UT (FHA|USDA|VA) 28 $19,480,000 $695,714 $3,350 3.29%
PROVO-OREM, UT (FHA|USDA|VA) 43 $13,565,000 $315,465 $3,115 2.98%
Cedar City, UT (FHA|USDA|VA) 8 $3,420,000 $427,500 $2,809 3.33%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 6 $3,380,000 $563,333 $3,260 3.25%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $1,685,000 $561,667 $4,372 3.54%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $1,485,000 $1,485,000 $11,578 2.88%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 4 $1,180,000 $295,000 $3,190 2.90%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $1,150,000 $575,000 $0 3.38%
Heber, UT (FHA|USDA|VA) 2 $1,110,000 $555,000 $5,142 2.75%
Price, UT (FHA|USDA|VA) 5 $1,015,000 $203,000 $2,981 2.75%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $905,000 $905,000 $500 4.15%
Rock Springs, WY (FHA|USDA|VA) 3 $895,000 $298,333 $3,842 2.58%
POCATELLO, ID (FHA|USDA|VA) 3 $735,000 $245,000 $4,941 3.83%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $735,000 $735,000 $10,893 2.75%
IDAHO FALLS, ID (FHA|USDA|VA) 2 $710,000 $355,000 $0 5.00%
Evanston, WY (FHA|USDA|VA) 2 $680,000 $340,000 $984 2.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $650,000 $325,000 $2,517 2.69%
Bozeman, MT (FHA|USDA|VA) 2 $640,000 $320,000 $6,510 2.88%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $625,000 $625,000 $4,494 3.00%
Burley, ID (FHA|USDA|VA) 1 $505,000 $505,000 $0 3.00%
FLAGSTAFF, AZ (FHA|USDA|VA) 2 $500,000 $250,000 $3,605 2.50%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $475,000 $475,000 $5,444 2.88%
Elko, NV (FHA|USDA|VA) 2 $470,000 $235,000 $2,095 2.56%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $400,000 $200,000 $735 2.56%
COLUMBUS, OH (FHA|USDA|VA) 1 $385,000 $385,000 $5,035 2.75%
OCALA, FL (FHA|USDA|VA) 2 $350,000 $175,000 $0 3.63%
Vernal, UT (FHA|USDA|VA) 1 $345,000 $345,000 $4,821 3.25%
Outside of Metro Areas 1 $345,000 $345,000 $4,870 2.50%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $325,000 $325,000 $3,581 3.13%
WENATCHEE, WA (FHA|USDA|VA) 1 $295,000 $295,000 $4,135 2.88%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $275,000 $275,000 $3,239 3.25%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $255,000 $255,000 $5,524 3.13%
Winnemucca, NV (FHA|USDA|VA) 1 $255,000 $255,000 $4,986 2.75%
Hood River, OR (FHA|USDA|VA) 1 $215,000 $215,000 $0 2.75%
RENO, NV (FHA|USDA|VA) 1 $205,000 $205,000 $2,696 2.38%
Bemidji, MN (FHA|USDA|VA) 1 $195,000 $195,000 $1,940 2.88%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $195,000 $195,000 $3,808 2.88%
Fernley, NV (FHA|USDA|VA) 1 $195,000 $195,000 $5,224 2.99%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $185,000 $185,000 $2,105 2.88%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $185,000 $185,000 $0 3.63%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.88%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $155,000 $155,000 $1,964 2.63%
ALBANY-LEBANON, OR (FHA|USDA|VA) 1 $145,000 $145,000 $2,594 4.75%
LEWISTON, ID-WA (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.63%

Cache Valley Bank's top markets include Logan, Ogden, St. George, Salt Lake City, and Provo among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,050 $361,730,000 $344,505 $3,197 3.01%
USDA 20 $5,850,000 $292,500 $3,699 2.49%
VA 14 $5,160,000 $368,571 $4,875 2.46%
FHA 7 $1,955,000 $279,286 $6,370 2.63%

For the 2021 period, Cache Valley Bank's most frequently originated loan type of loans were Conventional, with 1,050 originations. Their 2nd most popular type is USDA, with 20 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 459 $192,925,000 $420,316 $3,855 3.12%
Refi 333 $90,995,000 $273,258 $2,539 2.86%
Cash Out Refi 292 $89,980,000 $308,151 $3,158 2.91%
Other 5 $355,000 $71,000 $1,456 5.00%
Home Improvement 2 $440,000 $220,000 $6,193 3.88%

For the 2021, Cache Valley Bank's most frequently cited loan purpose of loans were Home Purchase, with 459 originations. The 2nd most popular reason of loans were Refi, with 333 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 861 $286,335,000 $332,561 $3,388 2.93%
15 Year 124 $29,760,000 $240,000 $2,686 2.58%
Other 42 $27,950,000 $665,476 $2,078 4.03%
20 Year 35 $11,245,000 $321,286 $3,132 3.66%
1 Year 18 $7,110,000 $395,000 $2,349 5.00%
10 Year 7 $1,835,000 $262,143 $2,376 3.09%
5 Year 4 $10,460,000 $2,615,000 $0 4.88%

For the 2021, Cache Valley Bank's most frequently cited loan length of loans were 30 Year, with 861 originations. The 2nd most popular length of loans were 15 Year, with 124 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 408 $126,030,000 $308,897
$1k-2k 254 $72,020,000 $283,543
$2k-3k 145 $46,785,000 $322,655
$3k-4k 102 $45,560,000 $446,667
$5k+ 18 $13,020,000 $723,333

$3,388 of loans were Cache Valley Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 408 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 553 $175,545,000 $317,441
3-4% 257 $92,535,000 $360,058
<2.5% 206 $58,000,000 $281,553
4-5% 56 $40,490,000 $723,036
5-6% 19 $8,125,000 $427,632

During 2021, Cache Valley Bank's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were 2.5-3%, with 553 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 561 $160,425,000 $285,963 $3,023 2.96%
$400k-600k 242 $116,830,000 $482,769 $4,324 2.94%
$100k-200k 210 $32,930,000 $156,810 $2,301 2.93%
$600k-1MM 38 $29,870,000 $786,053 $4,924 3.45%
$100,000 or less 28 $2,060,000 $73,571 $1,497 3.44%
$1MM+ 12 $32,580,000 $2,715,000 $11,906 4.41%

2021 saw Cache Valley Bank place emphasis on $200k-400k loans with 561 originations, totaling $160,425,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 227 $73,155,000 $322,269 $3,258 2.92%
$50k-75k 200 $49,420,000 $247,100 $2,897 2.87%
$75k-100k 198 $60,540,000 $305,758 $3,236 2.86%
$150k-250k 153 $61,255,000 $400,359 $4,188 3.04%
$50k or less 120 $23,290,000 $194,083 $2,634 2.94%
$250k+ 117 $56,625,000 $483,974 $3,954 3.01%

Cache Valley Bank lent most frequently to those with incomes in the $100k-150k range, with 227 originations. The second most popular income band? $50k-75k, with 200 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 305 $95,775,000 $314,016 $3,344 2.85%
30-36% 221 $73,385,000 $332,059 $3,196 2.88%
<20% 154 $48,240,000 $313,247 $2,961 2.86%
37% 51 $15,295,000 $299,902 $3,107 3.00%
43% 36 $11,030,000 $306,389 $3,512 2.88%
42% 33 $11,515,000 $348,939 $2,800 3.00%
40% 31 $9,375,000 $302,419 $3,101 3.00%
39% 30 $9,890,000 $329,667 $3,340 2.89%
36% 26 $10,430,000 $401,154 $4,696 2.95%
41% 25 $7,245,000 $289,800 $3,235 3.15%
38% 24 $8,090,000 $337,083 $3,700 2.91%
44% 24 $6,970,000 $290,417 $3,105 2.98%
45% 19 $5,945,000 $312,895 $2,918 2.95%
47% 19 $5,855,000 $308,158 $3,155 2.87%
46% 17 $4,915,000 $289,118 $3,851 3.07%
48% 9 $2,245,000 $249,444 $3,380 2.90%
49% 7 $2,375,000 $339,286 $4,333 2.70%
50-60% 5 $1,275,000 $255,000 $2,903 3.22%

Cache Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 305 originations. The next most common DTI ratio? 30-36%, with 221 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 995 $317,655,000 $319,251 $3,244 2.92%
Not applicable 38 $38,650,000 $1,017,105 $0 4.83%
Not provided 42 $12,600,000 $300,000 $3,374 3.08%
Asian 6 $1,850,000 $308,333 $3,790 2.60%
Native Hawaiian 3 $1,325,000 $441,667 $2,686 3.42%
American Indian 4 $1,270,000 $317,500 $4,884 2.81%
Black 2 $800,000 $400,000 $2,946 2.94%
Japanese 1 $545,000 $545,000 $4,021 3.00%

Approval Rates

Total approvals of all applications
98.55%

Cache Valley 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
89.99%

Cache Valley Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,091 $374,695,000 $343,442

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,091 $374,695,000 $343,442

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 126 $25,530,000 $202,619 $2,504 2.82%
40-60% 285 $81,905,000 $287,386 $2,959 2.90%
60-80% 465 $180,515,000 $388,204 $3,400 3.08%
80-100% 190 $72,440,000 $381,263 $3,895 2.95%
Over 100% 5 $11,165,000 $2,233,000 $10,276 3.88%
Under 20% 17 $1,985,000 $116,765 $1,666 3.60%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Cache Valley Bank 10 North Main Smithfield, UT 84335 Full Service B&M $13,182
Cache Valley Bank 1224 S. River Road Saint George, UT 84790 Full Service B&M $66,047
Cache Valley Bank 1320 North Main Street Logan, UT 84341 Full Service B&M $28,252
Cache Valley Bank 1333 North Hillfield Road Layton, UT 84041 Full Service B&M $112,930
Cache Valley Bank 1710 N Main North Logan, UT 84341 Full Service B&M $61,739
Cache Valley Bank 185 North Main Street Nephi, UT 84648 Full Service B&M $57,288
Cache Valley Bank 2 North Main Street Ephraim, UT 84627 Full Service B&M $55,111
Cache Valley Bank 210 South State Street Mount Pleasant, UT 84647 Full Service B&M $47,060
Cache Valley Bank 2380 Washington Blvd, Suite 285 Ogden, UT 84401 Full Service B&M $49,743
Cache Valley Bank 27 East 100 North Logan, UT 84321 Full Service B&M $13,829
Cache Valley Bank 294 E. Tabernacle Street Saint George, UT 84770 Full Service B&M $401,661
Cache Valley Bank 30 E Main St Hyrum, UT 84319 Full Service B&M $25,218
Cache Valley Bank 300 North Milburn Road Fairview, UT 84629 Full Service B&M $16,727
Cache Valley Bank 5 South Main Logan, UT 84321 Full Service B&M $92,993
Cache Valley Bank 710 W. Telegraph Street Washington, UT 84780 Full Service B&M $69,447
Cache Valley Bank 82 West Main Street Price, UT 84501 Full Service B&M $50,366
Cache Valley Bank 101 North Main Street Logan, UT 84321 Full Service B&M $744,886
Cache Valley Bank 105 South 500 West Bountiful, UT 84010 Full Service B&M $59,383
Cache Valley Bank 105 South Main Street Loa, UT 84747 Full Service B&M $59,035
Cache Valley Bank 1091 N. Bluff Saint George, UT 84770 Full Service B&M $97,662

For 2021, Cache Valley Bank had 20 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $121,225
Net interest income $111,221
Total noninterest income $10,190
Gross Fiduciary activities income $0
Service charges on deposit accounts $616
Trading account gains and fees $0
Additional Noninterest Income $9,574
Pre-tax net operating income $75,894
Securities gains (or losses, -) $47
Income before extraordinary items $57,058
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $57,058
Minority interest net income $0
Net income $57,058
Sale, conversion, retirement of capital stock, net $0
Net operating income $57,020

Cache Valley Bank's gross interest income from loans was $121,225,000.
Cache Valley Bank's net interest income from loans was $111,221,000.
Cache Valley Bank's fee based income from loans was $616,000.
Cache Valley Bank's net income from loans was $57,058,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $10,004
Provision for credit losses $2,700
Total noninterest expense $42,817
Salaries and employee benefits $27,135
Premises and equipment expense $4,559
Additional noninterest expense $11,123
Applicable income taxes $18,883
Net charge-offs $-832
Cash dividends $27,238

Cache Valley Bank's interest expense for loans was $10,004,000.
Cache Valley Bank's payroll and benefits expense were $27,135,000.
Cache Valley Bank's property, plant and equipment expenses $4,559,000.

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 $2,572,928
Deposits held in domestic offices $2,572,928
Deposits by Individuals, partnerships, and corporations $2,380,762
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $189,795
Deposits by Commercial banks and other depository institutions in U.S. $2,371
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $1,409,029
Demand deposits $1,409,029
Nontransaction accounts $1,163,899
Money market deposit accounts (MMDAs) $472,685
Other savings deposits (excluding MMDAs) $242,390
Total time deposits $448,823
Total time and savings deposits $1,163,899
Noninterest-bearing deposits $827,234
Interest-bearing deposits $1,745,693
Retail deposits $2,241,163
IRAs and Keogh plan accounts $30,465
Brokered deposits $197,077
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $3,083,491
Cash & Balances due from depository institutions $1,227,126
Interest-bearing balances $1,213,160
Total securities $29,115
Federal funds sold & reverse repurchase $17,122
Net loans and leases $1,749,817
Loan and leases loss allowance $20,558
Trading account assets $0
Bank premises and fixed assets $39,629
Other real estate owned $0
Goodwill and other intangibles $184
All other assets $20,498

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $3,083,491
Total Liabilities $2,854,958
Total deposits $2,572,928
Interest-bearing deposits $1,745,693
Deposits held in domestic offices $2,572,928
% insured (estimated) $41
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $271,892
Subordinated debt $0
All other liabilities $10,138

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,749,817
Loan and leases loss allowance $20,558
Total loans and leases (domestic) $1,770,375
All real estate loans $1,258,044
Real estate loans in domestic offices $1,258,044
Construction and development loans $283,587
Residential 1-4 family construction $105,812
Other construction, all land development and other land $177,775
Loans secured by nonfarm nonresidential properties $691,946
Nonfarm nonresidential secured by owner-occupied properties $344,812
Commercial real estate & other non-farm, non-residential $347,134
Multifamily residential real estate $35,168
1-4 family residential loans $161,580
Farmland loans $85,763
Loans held in foreign offices $0
Farm loans $43,934
Commercial and industrial loans $475,775
To non-U.S. addressees $0
Loans to individuals $10,192
Credit card loans $876
Related Plans $298
Consumer Auto Loans $2,904
Other loans to individuals $6,114
All other loans & leases $1,688
Loans to foreign governments and official institutions $0
Other loans $123
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $4,291
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $3,672
Non 1-4 family restructured loans & leases $3,333
Total loans and leases (foreign) $0

Cache Valley Bank had $1,749,817,000 of loans outstanding in 2021. $1,258,044,000 of loans were in real estate loans. $283,587,000 of loans were in development loans. $35,168,000 of loans were in multifamily mortgage loans. $161,580,000 of loans were in 1-4 family mortgage loans. $43,934,000 of loans were in farm loans. $876,000 of loans were in credit card loans. $2,904,000 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 544 $159,077 $292,421
Nonfarm, nonresidential loans - <$100k 60 $2,810 $46,833
Nonfarm, nonresidential loans - $100-250k 147 $19,825 $134,864
Nonfarm, nonresidential loans - $250k-1MM 337 $136,442 $404,872
Commercial & Industrial, US addressed loans - <$1MM 4,746 $331,315 $69,809
Commercial & Industrial, US addressed loans - <$100k 3,708 $90,878 $24,509
Commercial & Industrial, US addressed loans - $100-250k 611 $82,921 $135,714
Commercial & Industrial, US addressed loans - $250k-1MM 427 $157,516 $368,890
Farmland loans - <$1MM 226 $31,537 $139,544
Farmland loans - <$100k 75 $3,435 $45,800
Farmland loans - $100-250k 91 $12,218 $134,264
Farmland loans - $250k-1MM 60 $15,884 $264,733
Agriculture operations loans - <$1MM 307 $22,698 $73,935
Agriculture operations loans - <$100k 211 $6,271 $29,720
Agriculture operations loans - $100-250k 65 $6,636 $102,092
Agriculture operations loans - $250k-1MM 31 $9,791 $315,839