The Bennington State Bank Mortgage Rates, Fees & Info

Salina, KS

LEI: 549300G5DUB6RE1MCL12

Tax ID: 48-0137740

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Mortgage Data

Bank Data

Review & Overview

The Bennington State Bank is a smaller bank specializing in Home Purchase and Refi loans. The Bennington State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Salina, Manhattan, Hays, Denver, and Kansas City among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Bennington State 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.

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Originations

376

Origination Dollar Volume (All Markets)

$55,820,000

Employee count

100

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
Salina, KS (FHA|USDA|VA) 185 $20,655,000 $111,649 $0 0.00%
MANHATTAN, KS (FHA|USDA|VA) 34 $12,160,000 $357,647 $0 0.00%
Outside of Metro Areas 119 $10,995,000 $92,395 $0 0.00%
Hays, KS (FHA|USDA|VA) 2 $4,080,000 $2,040,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $1,780,000 $890,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $1,595,000 $531,667 $0 0.00%
WICHITA, KS (FHA|USDA|VA) 10 $1,140,000 $114,000 $0 0.00%
Taos, NM (FHA|USDA|VA) 1 $985,000 $985,000 $0 0.00%
TOPEKA, KS (FHA|USDA|VA) 5 $685,000 $137,000 $0 0.00%
McPherson, KS (FHA|USDA|VA) 6 $520,000 $86,667 $0 0.00%
Hutchinson, KS (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
JOPLIN, MO (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
LAWRENCE, KS (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Winfield, KS (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Ponca City, OK (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Beatrice, NE (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Richmond-Berea, KY (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
The Bennington State Bank's top markets include Salina, Manhattan, Hays, Denver, and Kansas City among others.

Their top states include:
  • Kansas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 323 $51,445,000 $159,272 $0 0.00%
    USDA 53 $4,375,000 $82,547 $0 0.00%

    For 2019, The Bennington State Bank's most frequently originated type of loan was Conventional, with 323 originations. Their 2nd most popular type was USDA, with 53 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 195 $22,755,000 $116,692 $0 0.00%
    Refi 99 $27,715,000 $279,949 $0 0.00%
    Cash Out Refi 48 $4,130,000 $86,042 $0 0.00%
    Home Improvement 20 $630,000 $31,500 $0 0.00%
    Other 14 $590,000 $42,143 $0 0.00%

    For 2019, The Bennington State Bank's most frequently cited loan purpose was Home Purchase, with 195 originations. The 2nd most popular reason was Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 376 $55,820,000 $148,457 $0 0.00%

    For 2019, The Bennington State Bank's most frequently cited loan duration was Other, with 376 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 228 $11,470,000 $50,307 $0 0.00%
    $100k-200k 89 $12,205,000 $137,135 $0 0.00%
    $200k-400k 43 $10,835,000 $251,977 $0 0.00%
    $600k-1MM 8 $5,820,000 $727,500 $0 0.00%
    $1MM+ 6 $14,510,000 $2,418,333 $0 0.00%
    $400k-600k 2 $980,000 $490,000 $0 0.00%

    2019 saw The Bennington State Bank place emphasis on $100,000 or less loans with 228 originations, totaling $11,470,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 106 $10,060,000 $94,906 $0 0.00%
    $50k-75k 77 $6,705,000 $87,078 $0 0.00%
    $75k-100k 44 $4,730,000 $107,500 $0 0.00%
    $100k-150k 43 $5,595,000 $130,116 $0 0.00%
    $150k-250k 35 $5,305,000 $151,571 $0 0.00%
    $250k+ 12 $4,300,000 $358,333 $0 0.00%

    The Bennington State Bank lent most frequently to those with incomes in the $50k or less range, with 106 originations. The second most popular income band? $50k-75k, with 77 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 376 $55,820,000 $148,457 $0 0.00%

    The Bennington State Bank lent most frequently to those with DTI ratios of Exempt%, with 376 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 316 $37,570,000 $118,892 $0 0.00%
    Not applicable 50 $17,390,000 $347,800 $0 0.00%
    American Indian 3 $415,000 $138,333 $0 0.00%
    Not provided 3 $225,000 $75,000 $0 0.00%
    Black 3 $155,000 $51,667 $0 0.00%
    Chinese 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.07%

    The Bennington State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.64%

    The Bennington State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 376 $55,820,000 $148,457

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $9,645,000 $1,929,000
    Single Family (1-4 Units):Manufactured 5 $385,000 $77,000
    Single Family (1-4 Units):Site-Built 366 $45,790,000 $125,109

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Bennington State Bank 102 North Main Street Sylvan Grove, KS 67481 Full Service B&M $15,898
    The Bennington State Bank 104 West Washington Bennington, KS 67422 Full Service B&M $58,395
    The Bennington State Bank 1210 Commerce Drive Wamego, KS 66547 Full Service B&M $34,022
    The Bennington State Bank 132 South Main Lucas, KS 67648 Full Service B&M $11,399
    The Bennington State Bank 200 South 9th Street Salina, KS 67402 Full Service B&M $0
    The Bennington State Bank 2130 South Ohio Street Salina, KS 67401 Full Service B&M $385,750
    The Bennington State Bank 320 West Second Minneapolis, KS 67467 Full Service B&M $62,625

    For 2019, The Bennington State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,079
    Net interest income $23,581
    Total noninterest income $4,837
    Gross Fiduciary activities income $706
    Service charges on deposit accounts $1,265
    Trading account gains and fees $0
    Additional Noninterest Income $2,866
    Pre-tax net operating income $14,173
    Securities gains (or losses, -) $-46
    Income before extraordinary items $13,540
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,540
    Minority interest net income $0
    Net income $13,540
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,584

    The Bennington State Bank's gross interest income from loans was $31,079,000.
    The Bennington State Bank's net interest income from loans was $23,581,000.
    The Bennington State Bank's fee based income from loans was $1,265,000.
    The Bennington State Bank's net income from loans was $13,540,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,498
    Provision for credit losses $1,950
    Total noninterest expense $12,295
    Salaries and employee benefits $7,747
    Premises and equipment expense $1,493
    Additional noninterest expense $3,055
    Applicable income taxes $587
    Net charge-offs $1,698
    Cash dividends $6,800

    The Bennington State Bank's interest expense for loans was $7,498,000.
    The Bennington State Bank's payroll and benefits expense were $7,747,000.
    The Bennington State Bank's property, plant and equipment expenses $1,493,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 2.0%
    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 $576,267
    Deposits held in domestic offices $576,267
    Deposits by Individuals, partnerships, and corporations $485,703
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $89,060
    Deposits by Commercial banks and other depository institutions in U.S. $1,504
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $51,655
    Demand deposits $21,916
    Nontransaction accounts $524,612
    Money market deposit accounts (MMDAs) $157,572
    Other savings deposits (excluding MMDAs) $207,826
    Total time deposits $159,215
    Total time and savings deposits $554,351
    Noninterest-bearing deposits $93,258
    Interest-bearing deposits $483,009
    Retail deposits $528,321
    IRAs and Keogh plan accounts $25,878
    Brokered deposits $1,453
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $728,981
    Cash & Balances due from depository institutions $48,973
    Interest-bearing balances $41,627
    Total securities $196,552
    Federal funds sold & reverse repurchase $0
    Net loans and leases $472,744
    Loan and leases loss allowance $15,103
    Trading account assets $0
    Bank premises and fixed assets $3,094
    Other real estate owned $240
    Goodwill and other intangibles $0
    All other assets $7,378

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $728,981
    Total Liabilities $642,007
    Total deposits $576,267
    Interest-bearing deposits $483,009
    Deposits held in domestic offices $576,267
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $37,128
    Trading liabilities $0
    Other borrowed funds $28,131
    Subordinated debt $0
    All other liabilities $481

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $472,744
    Loan and leases loss allowance $15,103
    Total loans and leases (domestic) $487,847
    All real estate loans $374,712
    Real estate loans in domestic offices $374,712
    Construction and development loans $9,013
    Residential 1-4 family construction $8,408
    Other construction, all land development and other land $605
    Loans secured by nonfarm nonresidential properties $88,460
    Nonfarm nonresidential secured by owner-occupied properties $61,623
    Commercial real estate & other non-farm, non-residential $26,837
    Multifamily residential real estate $20,523
    1-4 family residential loans $113,417
    Farmland loans $143,299
    Loans held in foreign offices $0
    Farm loans $31,631
    Commercial and industrial loans $68,565
    To non-U.S. addressees $0
    Loans to individuals $9,732
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,296
    Other loans to individuals $6,436
    All other loans & leases $3,207
    Loans to foreign governments and official institutions $0
    Other loans $273
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $13,306
    Non 1-4 family restructured loans & leases $13,306
    Total loans and leases (foreign) $0

    The Bennington State Bank had $472,744,000 of loans outstanding in 2019. $374,712,000 of loans were in real estate loans. $9,013,000 of loans were in development loans. $20,523,000 of loans were in multifamily mortgage loans. $113,417,000 of loans were in 1-4 family mortgage loans. $31,631,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,296,000 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 239 $29,576 $123,749
    Nonfarm, nonresidential loans - <$100k 120 $4,199 $34,992
    Nonfarm, nonresidential loans - $100-250k 67 $7,850 $117,164
    Nonfarm, nonresidential loans - $250k-1MM 52 $17,527 $337,058
    Commercial & Industrial, US addressed loans - <$1MM 378 $19,366 $51,233
    Commercial & Industrial, US addressed loans - <$100k 288 $5,946 $20,646
    Commercial & Industrial, US addressed loans - $100-250k 58 $5,129 $88,431
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $8,291 $259,094
    Farmland loans - <$1MM 582 $51,964 $89,285
    Farmland loans - <$100k 330 $10,995 $33,318
    Farmland loans - $100-250k 187 $22,896 $122,439
    Farmland loans - $250k-1MM 65 $18,073 $278,046
    Agriculture operations loans - <$1MM 477 $18,358 $38,486
    Agriculture operations loans - <$100k 388 $7,582 $19,541
    Agriculture operations loans - $100-250k 73 $7,328 $100,384
    Agriculture operations loans - $250k-1MM 16 $3,448 $215,500