Cashmere Valley Bank Mortgage Rates, Fees & Info

Cashmere, WA

LEI: 549300DU4JZVSGF3G964

Tax ID: 91-0168460

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cashmere Valley Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Cashmere Valley Bank has a high proportion of conventional loans. Their top markets include Wenatchee, Ellensburg, Bremerton, Yakima, and Seattle among others. Cashmere 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. Cashmere Valley Bank is typically a low fee lendor.


Originations

484

Origination Dollar Volume (All Markets)

$180,970,000

Employee count

287

Awards

Cashmere Valley Bank 30 Year Conventional Loans gold Cashmere Valley Bank 30 Year Conventional Loans gold Cashmere Valley Bank 30 Year Conventional Loans silver
Show all (3) awards

Relative Rate

Cashmere Valley Bank's average 30 year fixed rate mortgage of loans were 3.32%.

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

This yields a difference of 0.17%.

Relative Fees

Cashmere Valley Bank's average total fees for a 30 year fixed rate mortgage are $3,258.

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
WENATCHEE, WA (FHA|USDA|VA) 370 $128,440,000 $347,135 $3,137 3.16%
Ellensburg, WA (FHA|USDA|VA) 68 $26,280,000 $386,471 $2,646 3.21%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 1 $11,305,000 $11,305,000 $0 4.00%
YAKIMA, WA (FHA|USDA|VA) 18 $6,980,000 $387,778 $3,022 3.31%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 9 $3,475,000 $386,111 $3,072 3.24%
Moses Lake, WA (FHA|USDA|VA) 13 $3,215,000 $247,308 $3,076 2.98%
Outside of Metro Areas 4 $1,100,000 $275,000 $2,865 3.13%
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) 1 $175,000 $175,000 $2,414 3.50%

Cashmere Valley Bank's top markets include Wenatchee, Ellensburg, Bremerton, Yakima, and Seattle among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 484 $180,970,000 $373,905 $3,061 3.17%

For the 2021 period, Cashmere Valley Bank's most frequently originated loan type of loans were Conventional, with 484 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 174 $49,120,000 $282,299 $2,654 3.01%
Home Purchase 163 $91,575,000 $561,810 $3,189 3.26%
Cash Out Refi 136 $37,610,000 $276,544 $3,373 3.28%
Other 9 $2,355,000 $261,667 $3,910 3.21%
Home Improvement 2 $310,000 $155,000 $3,568 3.06%

For the 2021, Cashmere Valley Bank's most frequently cited loan purpose of loans were Refi, with 174 originations. The 2nd most popular reason of loans were Home Purchase, with 163 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 295 $94,465,000 $320,220 $3,258 3.32%
15 Year 134 $29,230,000 $218,134 $2,704 2.76%
20 Year 32 $7,710,000 $240,938 $2,998 3.31%
10 Year 18 $29,810,000 $1,656,111 $2,169 3.23%
5 Year 3 $12,095,000 $4,031,667 $0 3.92%
1 Year 1 $305,000 $305,000 $0 5.50%
Other 1 $7,355,000 $7,355,000 $0 4.25%

For the 2021, Cashmere Valley Bank's most frequently cited loan length of loans were 30 Year, with 295 originations. The 2nd most popular length of loans were 15 Year, with 134 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 266 $72,560,000 $272,782
$1k-2k 85 $22,995,000 $270,529
$2k-3k 57 $16,415,000 $287,982
$3k-4k 26 $10,010,000 $385,000
$5k+ 10 $4,620,000 $462,000

$3,258 of loans were Cashmere Valley Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 266 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 272 $122,160,000 $449,118
2.5-3% 176 $41,930,000 $238,239
<2.5% 26 $6,480,000 $249,231
4-5% 9 $10,095,000 $1,121,667
5-6% 1 $305,000 $305,000

During 2021, Cashmere Valley Bank's average interest rate of loans were 3.32%, while their most frequently originated rate bucket of loans were 3-4%, with 272 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 235 $65,995,000 $280,830 $2,977 3.19%
$100k-200k 116 $17,980,000 $155,000 $2,537 3.09%
$400k-600k 87 $41,025,000 $471,552 $4,096 3.23%
$100,000 or less 28 $2,170,000 $77,500 $2,310 2.84%
$600k-1MM 10 $7,450,000 $745,000 $3,952 3.70%
$1MM+ 8 $46,350,000 $5,793,750 $3,010 3.74%

2021 saw Cashmere Valley Bank place emphasis on $200k-400k loans with 235 originations, totaling $65,995,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 110 $25,600,000 $232,727 $2,912 3.21%
$100k-150k 105 $30,895,000 $294,238 $3,052 3.17%
$150k-250k 80 $29,460,000 $368,250 $3,462 3.12%
$75k-100k 78 $20,320,000 $260,513 $3,059 3.13%
$50k or less 61 $9,395,000 $154,016 $2,570 3.11%
$250k+ 39 $17,495,000 $448,590 $3,471 3.19%

Cashmere Valley Bank lent most frequently to those with incomes in the $50k-75k range, with 110 originations. The second most popular income band? $100k-150k, with 105 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 144 $40,650,000 $282,292 $3,118 3.10%
30-36% 101 $26,515,000 $262,525 $3,046 3.15%
<20% 71 $19,695,000 $277,394 $2,875 3.05%
37% 17 $4,645,000 $273,235 $3,436 3.40%
42% 15 $4,365,000 $291,000 $3,259 3.33%
41% 15 $5,455,000 $363,667 $2,932 3.28%
43% 15 $4,535,000 $302,333 $3,359 3.19%
45% 14 $4,040,000 $288,571 $3,186 3.13%
44% 11 $3,145,000 $285,909 $3,370 3.40%
36% 11 $2,885,000 $262,273 $3,146 3.30%
39% 9 $2,955,000 $328,333 $2,625 3.29%
48% 9 $2,725,000 $302,778 $2,858 3.14%
40% 9 $2,615,000 $290,556 $2,930 3.24%
49% 8 $1,690,000 $211,250 $3,694 3.06%
46% 6 $1,070,000 $178,333 $2,156 3.35%
47% 6 $1,820,000 $303,333 $2,460 3.19%
38% 6 $1,920,000 $320,000 $3,559 3.13%
50-60% 6 $2,440,000 $406,667 $2,611 3.38%

Cashmere Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 144 originations. The next most common DTI ratio? 30-36%, with 101 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 393 $117,585,000 $299,198 $3,069 3.18%
Not applicable 7 $42,885,000 $6,126,429 $0 3.93%
American Indian 52 $11,150,000 $214,423 $2,630 3.07%
Not provided 28 $8,600,000 $307,143 $4,017 3.15%
Asian 3 $535,000 $178,333 $1,681 2.75%
Asian Indian 1 $215,000 $215,000 $0 3.50%

Approval Rates

Total approvals of all applications
91.76%

Cashmere Valley Bank has an average approval rate.

Pick Rate

Approvals leading to origination
78.48%

Cashmere Valley Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 484 $180,970,000 $373,905

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
484 $180,970,000 $373,905

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 100 $18,670,000 $186,700 $2,541 2.94%
40-60% 144 $55,130,000 $382,847 $2,888 3.13%
60-80% 168 $80,940,000 $481,786 $3,555 3.36%
80-100% 53 $24,245,000 $457,453 $3,379 3.17%
Under 20% 19 $1,985,000 $104,474 $2,219 3.02%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Cashmere Valley Bank 101 University Way Ellensburg, WA 98926 Full Service B&M $171,320
Cashmere Valley Bank 1108 Maple Street Wenatchee, WA 98801 Full Service B&M $298,263
Cashmere Valley Bank 117 Aplets Way Cashmere, WA 98815 Full Service B&M $245,458
Cashmere Valley Bank 124 E. Penny Rd. Wenatchee, WA 98801 Full Service B&M $0
Cashmere Valley Bank 124 South Chelan Street Wenatchee, WA 98801 Full Service B&M $120,859
Cashmere Valley Bank 127 Easy Street Wenatchee, WA 98801 Full Service B&M $201,028
Cashmere Valley Bank 127 W. Yakima Ave. Yakima, WA 98902 Full Service B&M $10,020
Cashmere Valley Bank 199 Valley Mall Parkway East Wenatchee, WA 98802 Full Service B&M $274,618
Cashmere Valley Bank 329 E. Woodin Avenue Chelan, WA 98816 Full Service B&M $116,352
Cashmere Valley Bank 5802 Summitview Ave. Yakima, WA 98908 Full Service B&M $31,215
Cashmere Valley Bank 803 W 1st St Cle Elum, WA 98922 Full Service B&M $105,620
Cashmere Valley Bank 980 Highway 2 Leavenworth, WA 98826 Full Service B&M $297,569

For 2021, Cashmere Valley Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $57,966
Net interest income $52,823
Total noninterest income $22,695
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,634
Trading account gains and fees $0
Additional Noninterest Income $21,061
Pre-tax net operating income $33,981
Securities gains (or losses, -) $1
Income before extraordinary items $29,033
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $29,033
Minority interest net income $0
Net income $29,033
Sale, conversion, retirement of capital stock, net $-6,413
Net operating income $29,032

Cashmere Valley Bank's gross interest income from loans was $57,966,000.
Cashmere Valley Bank's net interest income from loans was $52,823,000.
Cashmere Valley Bank's fee based income from loans was $1,634,000.
Cashmere Valley Bank's net income from loans was $29,033,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,143
Provision for credit losses $81
Total noninterest expense $41,456
Salaries and employee benefits $22,120
Premises and equipment expense $3,123
Additional noninterest expense $16,213
Applicable income taxes $4,949
Net charge-offs $37
Cash dividends $6,081

Cashmere Valley Bank's interest expense for loans was $5,143,000.
Cashmere Valley Bank's payroll and benefits expense were $22,120,000.
Cashmere Valley Bank's property, plant and equipment expenses $3,123,000.

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 $1,936,577
Deposits held in domestic offices $1,936,577
Deposits by Individuals, partnerships, and corporations $1,888,929
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $47,648
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $166,989
Demand deposits $94,120
Nontransaction accounts $1,769,588
Money market deposit accounts (MMDAs) $315,635
Other savings deposits (excluding MMDAs) $1,251,166
Total time deposits $202,787
Total time and savings deposits $1,842,457
Noninterest-bearing deposits $432,621
Interest-bearing deposits $1,503,956
Retail deposits $1,894,292
IRAs and Keogh plan accounts $44,162
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,224,302
Cash & Balances due from depository institutions $103,849
Interest-bearing balances $81,399
Total securities $1,103,232
Federal funds sold & reverse repurchase $10,155
Net loans and leases $928,176
Loan and leases loss allowance $13,774
Trading account assets $0
Bank premises and fixed assets $17,058
Other real estate owned $0
Goodwill and other intangibles $14,663
All other assets $47,169

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,224,302
Total Liabilities $1,985,204
Total deposits $1,936,577
Interest-bearing deposits $1,503,956
Deposits held in domestic offices $1,936,577
% insured (estimated) $69
Federal funds purchased and repurchase agreements $34,504
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $14,123

Issued Loan Types

Type Value (in 000's)
Net loans and leases $928,176
Loan and leases loss allowance $13,774
Total loans and leases (domestic) $941,950
All real estate loans $531,528
Real estate loans in domestic offices $531,528
Construction and development loans $91,186
Residential 1-4 family construction $11,666
Other construction, all land development and other land $79,520
Loans secured by nonfarm nonresidential properties $278,460
Nonfarm nonresidential secured by owner-occupied properties $66,459
Commercial real estate & other non-farm, non-residential $212,001
Multifamily residential real estate $52,972
1-4 family residential loans $103,556
Farmland loans $5,354
Loans held in foreign offices $0
Farm loans $1,332
Commercial and industrial loans $98,151
To non-U.S. addressees $0
Loans to individuals $203,816
Credit card loans $3,615
Related Plans $3,343
Consumer Auto Loans $183,709
Other loans to individuals $13,149
All other loans & leases $107,123
Loans to foreign governments and official institutions $0
Other loans $11,429
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $458
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $15,638
Non 1-4 family restructured loans & leases $11,412
Total loans and leases (foreign) $0

Cashmere Valley Bank had $928,176,000 of loans outstanding in 2021. $531,528,000 of loans were in real estate loans. $91,186,000 of loans were in development loans. $52,972,000 of loans were in multifamily mortgage loans. $103,556,000 of loans were in 1-4 family mortgage loans. $1,332,000 of loans were in farm loans. $3,615,000 of loans were in credit card loans. $183,709,000 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 187 $59,055 $315,802
Nonfarm, nonresidential loans - <$100k 6 $332 $55,333
Nonfarm, nonresidential loans - $100-250k 55 $7,607 $138,309
Nonfarm, nonresidential loans - $250k-1MM 126 $51,116 $405,683
Commercial & Industrial, US addressed loans - <$1MM 1,495 $80,766 $54,024
Commercial & Industrial, US addressed loans - <$100k 1,122 $36,138 $32,209
Commercial & Industrial, US addressed loans - $100-250k 300 $28,293 $94,310
Commercial & Industrial, US addressed loans - $250k-1MM 73 $16,335 $223,767
Farmland loans - <$1MM 18 $2,520 $140,000
Farmland loans - <$100k 5 $213 $42,600
Farmland loans - $100-250k 10 $1,266 $126,600
Farmland loans - $250k-1MM 3 $1,041 $347,000
Agriculture operations loans - <$1MM 15 $854 $56,933
Agriculture operations loans - <$100k 10 $173 $17,300
Agriculture operations loans - $100-250k 2 $231 $115,500
Agriculture operations loans - $250k-1MM 3 $450 $150,000