Glacier Bank

Kalispell, MT 59901

LEI: 549300ESRQ6OLBB56N04

Tax ID: 81-0251125

2019 Data | 2018 Data


Overview

Glacier Bank is a small mortgage company specializing in Home Purchase loans. Glacier Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Coeur D'alene, Spokane, Missoula, Billings, and Boise City among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Glacier Bank is typically a lendor.


Originations

8,124

Origination Dollar Volume (All Markets)

$1,880,020,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 7,431 $1,721,735,000 $231,696
FHA 328 $69,230,000 $211,067
VA 250 $68,050,000 $272,200
USDA 115 $21,005,000 $182,652

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 4,087 $1,152,115,000 $281,897
Home Improvement 949 $85,915,000 $90,532
Other 862 $98,850,000 $114,675
Refi 1,448 $350,160,000 $241,823
Cash Out Refi 778 $192,980,000 $248,046

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
Outside of Metro Areas 4,408 $984,430,000 $223,328
COEUR D'ALENE, ID 947 $240,835,000 $254,314
SPOKANE-SPOKANE VALLEY, WA 387 $115,125,000 $297,481
MISSOULA, MT 505 $97,645,000 $193,356
BILLINGS, MT 496 $91,230,000 $183,931
BOISE CITY, ID 354 $68,300,000 $192,938
POCATELLO, ID 368 $65,300,000 $177,446
DENVER-AURORA-LAKEWOOD, CO 104 $52,680,000 $506,538
WENATCHEE, WA 100 $33,340,000 $333,400
IDAHO FALLS, ID 99 $21,395,000 $216,111
OGDEN-CLEARFIELD, UT 53 $17,485,000 $329,906
PHOENIX-MESA-CHANDLER, AZ 21 $15,215,000 $724,524
COLORADO SPRINGS, CO 37 $9,725,000 $262,838
SALT LAKE CITY, UT 18 $8,150,000 $452,778
YUMA, AZ 35 $7,305,000 $208,714
PUEBLO, CO 32 $6,550,000 $204,688
Outside of Metro Areas 8 $6,260,000 $782,500
GRAND JUNCTION, CO 30 $5,690,000 $189,667
PRESCOTT VALLEY-PRESCOTT, AZ 20 $4,550,000 $227,500
FLAGSTAFF, AZ 8 $3,580,000 $447,500
PROVO-OREM, UT 10 $3,480,000 $348,000
TUCSON, AZ 3 $2,695,000 $898,333
SEATTLE-BELLEVUE-KENT, WA 8 $2,430,000 $303,750
TWIN FALLS, ID 8 $1,960,000 $245,000
CHEYENNE, WY 8 $1,700,000 $212,500
RENO, NV 3 $1,305,000 $435,000
ST. GEORGE, UT 5 $1,235,000 $247,000
LOGAN, UT-ID 6 $1,230,000 $205,000
TACOMA-LAKEWOOD, WA 3 $935,000 $311,667
LEWISTON, ID-WA 4 $890,000 $222,500
CASPER, WY 3 $885,000 $295,000
GREAT FALLS, MT 9 $785,000 $87,222
BOULDER, CO 1 $705,000 $705,000
FARMINGTON, NM 5 $665,000 $133,000
BREMERTON-SILVERDALE-PORT ORCHARD, WA 3 $665,000 $221,667
KENNEWICK-RICHLAND, WA 3 $645,000 $215,000
GREELEY, CO 2 $620,000 $310,000
FORT COLLINS, CO 2 $570,000 $285,000
EUGENE-SPRINGFIELD, OR 1 $425,000 $425,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 2 $390,000 $195,000
YAKIMA, WA 1 $385,000 $385,000
LAKE HAVASU CITY-KINGMAN, AZ 2 $280,000 $140,000
BELLINGHAM, WA 1 $245,000 $245,000
LINCOLN, NE 1 $105,000 $105,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 41 $2,165,000 $52,805
2.5-3% 55 $13,355,000 $242,818
3-4% 2,367 $620,145,000 $261,996
4-5% 3,090 $814,810,000 $263,693
5-6% 2,184 $381,000,000 $174,451
6-7% 274 $40,660,000 $148,394
7-8% 67 $6,145,000 $91,716
Over 8% 45 $1,705,000 $37,889

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 2,044 $105,500,000 $51,614
$100k-200k 2,207 $325,555,000 $147,510
$200k-400k 2,936 $801,420,000 $272,963
$400k-600k 644 $299,450,000 $464,984
$600k-1000k 182 $136,080,000 $747,692
$Over $1MM 111 $212,015,000 $1,910,045

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 1,255 $175,945,000 $140,195
40-60% 1,111 $283,025,000 $254,748
60-80% 2,468 $797,710,000 $323,221
80-100% 1,977 $541,845,000 $274,074
Over 100% 56 $14,710,000 $262,679
Under 20% 1,254 $65,840,000 $52,504

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 1,541 $351,835,000 $228,316
$150k-250k 967 $265,205,000 $274,255
$50k-75k 1,730 $295,540,000 $170,832
$50k-or less 1,332 $160,090,000 $120,188
$75k-100k 1,323 $267,155,000 $201,931
$Over $250k 601 $282,925,000 $470,757

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 7,225 $1,552,035,000 $214,815
Not applicable 311 $192,655,000 $619,469
Not provided 430 $102,900,000 $239,302
Asian 67 $16,575,000 $247,388
American Indian 60 $10,390,000 $173,167
Black 20 $3,140,000 $157,000
Native Hawaiian 8 $2,050,000 $256,250
Chinese 1 $125,000 $125,000
Asian Indian 1 $125,000 $125,000
Other Pacific Islander 1 $25,000 $25,000

Approval Rates

Total approvals of all applications
90.26%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
75.36%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
0.0 7 $65,000 $9,286
100.0 31 $925,000 $29,839
120.0 1 $45,000 $45,000
NA 8,085 $1,878,985,000 $232,404

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 990 $240,410,000 $242,838
$1k-2k 951 $170,385,000 $179,164
$2k-3k 1,146 $261,920,000 $228,551
$3k-4k 995 $309,935,000 $311,492
$5k+ 419 $258,925,000 $617,959

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Manufactured 22 $22,100,000 $1,004,545
Multifamily:Site-Built 83 $93,225,000 $1,123,193
Single Family (1-4 Units):Manufactured 356 $37,150,000 $104,354
Single Family (1-4 Units):Site-Built 7,663 $1,727,545,000 $225,440