Cashmere Valley Bank Mortgage Rates, Fees & Info

Cashmere, WA

LEI: 549300DU4JZVSGF3G964

Tax ID: 91-0168460

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Cashmere Valley Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Cashmere Valley Bank has a high proportion of conventional loans. Their top markets by origination volume include: Wenatchee, Seattle, Ellensburg, Yakima, and Moses Lake among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Cashmere Valley 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. Cashmere Valley 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.83%	4/21/24
30 Year Conventional Refi	7.08%	4/21/24
30 Year Cash-out Refi	6.97%	4/21/24
15 Year Conventional Purchase	6.23%	4/21/24
15 Year Conventional Refi	6.30%	4/21/24
15 Year Cash-out Refi	6.30%	4/21/24
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.

Cashmere Valley Bank Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

728

Origination Dollar Volume (All Markets)

$253,030,000

Employee count

265

Awards

Cashmere Valley Bank 30 Year Conventional Loans gold

Show all (4) awards

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
WENATCHEE, WA (FHA\|USDA\|VA)	510	$166,330,000	$326,137	$2,625	3.33%
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	36	$39,070,000	$1,085,278	$2,580	3.13%
Ellensburg, WA (FHA\|USDA\|VA)	101	$27,275,000	$270,050	$2,715	3.35%
YAKIMA, WA (FHA\|USDA\|VA)	25	$6,035,000	$241,400	$2,774	3.35%
Outside of Metro Areas	18	$3,950,000	$219,444	$2,440	3.31%
Moses Lake, WA (FHA\|USDA\|VA)	16	$3,680,000	$230,000	$2,656	3.29%
KENNEWICK-RICHLAND, WA (FHA\|USDA\|VA)	1	$2,505,000	$2,505,000	$0	3.50%
BELLINGHAM, WA (FHA\|USDA\|VA)	4	$1,180,000	$295,000	$1,726	3.13%
SPOKANE-SPOKANE VALLEY, WA (FHA\|USDA\|VA)	4	$1,000,000	$250,000	$2,250	3.09%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA\|USDA\|VA)	4	$630,000	$157,500	$1,930	2.91%
MOUNT VERNON-ANACORTES, WA (FHA\|USDA\|VA)	2	$380,000	$190,000	$1,842	2.81%
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA\|USDA\|VA)	2	$290,000	$145,000	$1,908	3.81%
Pullman, WA (FHA\|USDA\|VA)	1	$255,000	$255,000	$2,426	3.88%
OLYMPIA-LACEY-TUMWATER, WA (FHA\|USDA\|VA)	2	$250,000	$125,000	$1,594	2.94%
LONGVIEW, WA (FHA\|USDA\|VA)	1	$125,000	$125,000	$1,539	2.88%
WALLA WALLA, WA (FHA\|USDA\|VA)	1	$75,000	$75,000	$2,314	3.00%

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

Their top states include:

Washington (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Cashmere Valley 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	728	$253,030,000	$347,569	$2,614	3.32%

For 2020, Cashmere Valley Bank's most frequently originated type of loan was Conventional, with 728 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	349	$110,535,000	$316,719	$2,246	3.20%
Cash Out Refi	196	$52,070,000	$265,663	$2,981	3.41%
Home Purchase	167	$86,995,000	$520,928	$2,932	3.44%
Other	12	$2,970,000	$247,500	$2,889	3.51%
Home Improvement	4	$460,000	$115,000	$2,190	3.31%

For 2020, Cashmere Valley Bank's most frequently cited loan purpose was Refi, with 349 originations. The 2nd most popular reason was Cash Out Refi, with 196 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	442	$131,620,000	$297,783	$2,745	3.46%
15 Year	205	$44,715,000	$218,122	$2,312	2.88%
20 Year	43	$10,335,000	$240,349	$2,798	3.56%
10 Year	22	$43,700,000	$1,986,364	$2,297	3.63%
5 Year	11	$2,345,000	$213,182	$0	3.97%
Other	5	$20,315,000	$4,063,000	$2,116	3.60%

For 2020, Cashmere Valley Bank's most frequently cited loan duration was 30 Year, with 442 originations. The 2nd most popular length was 15 Year, with 205 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	516	$136,100,000	$263,760
$1k-2k	87	$22,185,000	$255,000
$2k-3k	36	$11,110,000	$308,611
$3k-4k	12	$4,750,000	$395,833
$4k-5k	10	$3,960,000	$396,000
$5k+	9	$3,895,000	$432,778

Cashmere Valley Bank's average total fees were $2,745, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 516 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	454	$163,320,000	$359,736
2.5-3%	222	$54,880,000	$247,207
4-5%	36	$29,730,000	$825,833
<2.5%	13	$4,225,000	$325,000
5-6%	3	$875,000	$291,667

During 2020, Cashmere Valley Bank's average interest rate for loans was 3.46%, while their most frequently originated rate bucket for loans was 3-4%, with 454 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	363	$103,925,000	$286,295	$2,634	3.34%
$100k-200k	207	$31,285,000	$151,135	$2,229	3.26%
$400k-600k	110	$51,260,000	$466,000	$3,339	3.32%
$100,000 or less	30	$2,400,000	$80,000	$2,102	3.08%
$1MM+	9	$57,895,000	$6,432,778	$0	3.73%
$600k-1MM	9	$6,265,000	$696,111	$2,803	3.89%

2020 saw Cashmere Valley Bank place emphasis on $200k-400k loans with 363 originations, totaling $103,925,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	168	$49,020,000	$291,786	$2,794	3.32%
$50k-75k	137	$28,635,000	$209,015	$2,401	3.26%
$75k-100k	126	$31,620,000	$250,952	$2,580	3.26%
$150k-250k	121	$39,815,000	$329,050	$2,653	3.35%
$50k or less	75	$11,305,000	$150,733	$2,196	3.26%
$250k+	72	$27,850,000	$386,806	$3,064	3.32%

Cashmere Valley Bank lent most frequently to those with incomes in the $100k-150k range, with 168 originations. The second most popular income band? $50k-75k, with 137 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	222	$59,790,000	$269,324	$2,562	3.23%
30-36%	124	$34,890,000	$281,371	$2,760	3.41%
<20%	105	$26,915,000	$256,333	$2,523	3.17%
36%	31	$8,325,000	$268,548	$2,360	3.20%
41%	26	$7,160,000	$275,385	$2,722	3.44%
38%	24	$7,560,000	$315,000	$3,182	3.43%
39%	22	$4,930,000	$224,091	$2,145	3.40%
40%	22	$6,850,000	$311,364	$2,458	3.52%
37%	20	$4,740,000	$237,000	$2,781	3.38%
45%	15	$3,695,000	$246,333	$2,174	3.36%
43%	15	$4,845,000	$323,000	$2,445	3.28%
44%	13	$2,355,000	$181,154	$3,008	3.24%
46%	13	$3,065,000	$235,769	$2,562	3.15%
48%	12	$3,780,000	$315,000	$3,167	3.38%
47%	11	$3,205,000	$291,364	$3,106	3.31%
49%	11	$3,305,000	$300,455	$2,349	3.19%
42%	10	$2,210,000	$221,000	$2,743	3.20%
50-60%	4	$920,000	$230,000	$2,190	3.47%
>60%	1	$245,000	$245,000	$0	4.75%

Cashmere Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 222 originations. The next most common DTI ratio? 30-36%, with 124 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	604	$163,660,000	$270,960	$2,628	3.31%
Not applicable	26	$63,920,000	$2,458,462	$0	3.85%
American Indian	50	$11,390,000	$227,800	$2,338	3.23%
Not provided	35	$9,765,000	$279,000	$2,690	3.17%
Asian	9	$2,965,000	$329,444	$3,152	3.15%
Native Hawaiian or Islander	2	$660,000	$330,000	$1,996	3.06%
Chinese	1	$445,000	$445,000	$2,612	4.00%
Asian Indian	1	$225,000	$225,000	$2,266	2.88%

Approval Rates

Total approvals of all applications
92.69%

Cashmere Valley Bank has an average approval rate.

Pick Rate

Approvals leading to origination
72.94%

Cashmere Valley Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	728	$253,030,000	$347,569

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	17	$62,125,000	$3,654,412
Single Family (1-4 Units):Manufactured	30	$5,050,000	$168,333
Single Family (1-4 Units):Site-Built	681	$185,855,000	$272,915

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	127	$26,925,000	$212,008	$2,253	3.17%
40-60%	235	$69,885,000	$297,383	$2,346	3.22%
60-80%	278	$130,760,000	$470,360	$2,943	3.44%
80-100%	76	$24,230,000	$318,816	$2,906	3.46%
Under 20%	12	$1,230,000	$102,500	$1,968	3.16%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
Chesmar Homes	Conventional home mortgage	Closing on a mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Cashmere Valley Bank	127 Easy Street Wenatchee, WA 98801	Full Service B&M	$175,148
Cashmere Valley Bank	124 E. Penny Rd. Wenatchee, WA 98801	Full Service B&M	$0
Cashmere Valley Bank	101 University Way Ellensburg, WA 98926	Full Service B&M	$149,227
Cashmere Valley Bank	124 South Chelan Street Wenatchee, WA 98801	Full Service B&M	$101,280
Cashmere Valley Bank	1108 Maple Street Wenatchee, WA 98801	Full Service B&M	$257,429
Cashmere Valley Bank	117 Aplets Way Cashmere, WA 98815	Full Service B&M	$200,007
Cashmere Valley Bank	199 Valley Mall Parkway East Wenatchee, WA 98802	Full Service B&M	$246,782
Cashmere Valley Bank	329 E. Woodin Avenue Chelan, WA 98816	Full Service B&M	$95,903
Cashmere Valley Bank	5802 Summitview Ave. Yakima, WA 98908	Full Service B&M	$24,825
Cashmere Valley Bank	803 W 1st St Cle Elum, WA 98922	Full Service B&M	$92,077
Cashmere Valley Bank	980 Highway 2 Leavenworth, WA 98826	Full Service B&M	$238,156
Cashmere Valley Bank	127 W. Yakima Ave. Yakima, WA 98902	Full Service B&M	$4,613

For 2020, Cashmere Valley Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$53,676
Net interest income	$46,791
Total noninterest income	$20,923
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,247
Trading account gains and fees	$0
Additional Noninterest Income	$19,676
Pre-tax net operating income	$27,020
Securities gains (or losses, -)	$2,520
Income before extraordinary items	$25,521
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$25,521
Minority interest net income	$0
Net income	$25,521
Sale, conversion, retirement of capital stock, net	$318
Net operating income	$23,353

Cashmere Valley Bank's gross interest income from loans was $53,676,000.
Cashmere Valley Bank's net interest income from loans was $46,791,000.
Cashmere Valley Bank's fee based income from loans was $1,247,000.
Cashmere Valley Bank's net income from loans was $25,521,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$6,885
Provision for credit losses	$3,174
Total noninterest expense	$37,520
Salaries and employee benefits	$19,969
Premises and equipment expense	$2,997
Additional noninterest expense	$14,554
Applicable income taxes	$4,019
Net charge-offs	$632
Cash dividends	$13,506

Cashmere Valley Bank's interest expense for loans was $6,885,000.
Cashmere Valley Bank's payroll and benefits expense were $19,969,000.
Cashmere Valley Bank's property, plant and equipment expenses $2,997,000.

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	0.1%
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	$1,719,971
Deposits held in domestic offices	$1,719,971
Deposits by Individuals, partnerships, and corporations	$1,680,333
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$39,549
Deposits by Commercial banks and other depository institutions in U.S.	$90
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$152,365
Demand deposits	$82,354
Nontransaction accounts	$1,567,607
Money market deposit accounts (MMDAs)	$265,901
Other savings deposits (excluding MMDAs)	$1,068,492
Total time deposits	$233,215
Total time and savings deposits	$1,637,618
Noninterest-bearing deposits	$365,645
Interest-bearing deposits	$1,354,326
Retail deposits	$1,672,079
IRAs and Keogh plan accounts	$45,190
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,994,288
Cash & Balances due from depository institutions	$124,724
Interest-bearing balances	$97,466
Total securities	$856,327
Federal funds sold & reverse repurchase	$10,990
Net loans and leases	$938,711
Loan and leases loss allowance	$13,730
Trading account assets	$0
Bank premises and fixed assets	$16,381
Other real estate owned	$0
Goodwill and other intangibles	$11,601
All other assets	$35,554

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,994,288
Total Liabilities	$1,755,610
Total deposits	$1,719,971
Interest-bearing deposits	$1,354,326
Deposits held in domestic offices	$1,719,971
% insured (estimated)	$70
Federal funds purchased and repurchase agreements	$16,395
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$19,244

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$938,711
Loan and leases loss allowance	$13,730
Total loans and leases (domestic)	$952,441
All real estate loans	$519,231
Real estate loans in domestic offices	$519,231
Construction and development loans	$73,497
Residential 1-4 family construction	$12,844
Other construction, all land development and other land	$60,653
Loans secured by nonfarm nonresidential properties	$257,355
Nonfarm nonresidential secured by owner-occupied properties	$79,427
Commercial real estate & other non-farm, non-residential	$177,928
Multifamily residential real estate	$60,324
1-4 family residential loans	$119,398
Farmland loans	$8,657
Loans held in foreign offices	$0
Farm loans	$941
Commercial and industrial loans	$126,229
To non-U.S. addressees	$0
Loans to individuals	$207,509
Credit card loans	$3,661
Related Plans	$4,164
Consumer Auto Loans	$187,152
Other loans to individuals	$12,532
All other loans & leases	$98,531
Loans to foreign governments and official institutions	$0
Other loans	$2,053
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$921
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$18,492
Non 1-4 family restructured loans & leases	$14,206
Total loans and leases (foreign)	$0

Cashmere Valley Bank had $938,711,000 of loans outstanding in 2020. $519,231,000 of loans were in real estate loans. $73,497,000 of loans were in development loans. $60,324,000 of loans were in multifamily mortgage loans. $119,398,000 of loans were in 1-4 family mortgage loans. $941,000 of loans were in farm loans. $3,661,000 of loans were in credit card loans. $187,152,000 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	203	$62,607	$308,409
Nonfarm, nonresidential loans - <$100k	9	$456	$50,667
Nonfarm, nonresidential loans - $100-250k	57	$8,145	$142,895
Nonfarm, nonresidential loans - $250k-1MM	137	$54,006	$394,204
Commercial & Industrial, US addressed loans - <$1MM	1,949	$107,282	$55,045
Commercial & Industrial, US addressed loans - <$100k	1,508	$46,462	$30,810
Commercial & Industrial, US addressed loans - $100-250k	351	$36,374	$103,630
Commercial & Industrial, US addressed loans - $250k-1MM	90	$24,446	$271,622
Farmland loans - <$1MM	19	$2,808	$147,789
Farmland loans - <$100k	7	$381	$54,429
Farmland loans - $100-250k	9	$1,366	$151,778
Farmland loans - $250k-1MM	3	$1,061	$353,667
Agriculture operations loans - <$1MM	15	$820	$54,667
Agriculture operations loans - <$100k	9	$148	$16,444
Agriculture operations loans - $100-250k	4	$223	$55,750
Agriculture operations loans - $250k-1MM	2	$449	$224,500