Rock Canyon Bank Mortgage Rates, Fees & Info
Provo, UT
LEI: 549300GHJNYLYN726391
Tax ID: 87-0489793
5 stars
-
out of 5 stars, based on 23 reviews
Jump to:
Mortgage Data
Bank Data
Overview
Rock Canyon Bank is a
smaller
bank
specializing in
Refi, Home Purchase, and Cash Out Refi loans.
Rock Canyon Bank has a high proportion of conventional loans.
Their top markets include Provo, St. George, Salt Lake City, Memphis, and Ogden among others. Rock Canyon Bank has
an above average
approval rate for mortages when compared nationally.
They have
an average
pick rate when compared to the same sample of other lendors.
Rock Canyon Bank is typically
an average fee
lendor.
Originations
534
Origination Dollar Volume (All Markets)
$155,140,000
Employee count
156
Relative Rate
Rock Canyon Bank's average 30 year fixed rate mortgage of loans were
3.25%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.1%.
Relative Fees
Rock Canyon Bank's average total fees for a 30 year fixed rate
mortgage are $3,904.
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 |
|
PROVO-OREM, UT (FHA|USDA|VA)
|
214
|
$75,460,000 |
$352,617 |
$3,302 |
2.69% |
|
ST. GEORGE, UT (FHA|USDA|VA)
|
39
|
$14,035,000 |
$359,872 |
$0 |
0.00% |
|
Outside of Metro Areas
|
62 |
$13,010,000 |
$209,839 |
$0 |
0.00% |
|
SALT LAKE CITY, UT (FHA|USDA|VA)
|
33
|
$10,235,000 |
$310,152 |
$0 |
0.00% |
|
MEMPHIS, TN-MS-AR (FHA|USDA|VA)
|
31
|
$4,245,000 |
$136,935 |
$0 |
0.00% |
|
OGDEN-CLEARFIELD, UT (FHA|USDA|VA)
|
11
|
$3,935,000 |
$357,727 |
$0 |
0.00% |
|
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)
|
5
|
$3,445,000 |
$689,000 |
$0 |
0.00% |
|
Cedar City, UT (FHA|USDA|VA)
|
8
|
$2,300,000 |
$287,500 |
$0 |
0.00% |
|
Heber, UT (FHA|USDA|VA)
|
4
|
$2,270,000 |
$567,500 |
$0 |
0.00% |
|
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)
|
8
|
$2,000,000 |
$250,000 |
$0 |
0.00% |
|
OCALA, FL (FHA|USDA|VA)
|
12
|
$2,000,000 |
$166,667 |
$0 |
0.00% |
|
SPARTANBURG, SC (FHA|USDA|VA)
|
11
|
$1,875,000 |
$170,455 |
$0 |
0.00% |
|
OKLAHOMA CITY, OK (FHA|USDA|VA)
|
9
|
$1,455,000 |
$161,667 |
$0 |
0.00% |
|
FORT COLLINS, CO (FHA|USDA|VA)
|
3
|
$1,135,000 |
$378,333 |
$0 |
0.00% |
|
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)
|
1
|
$1,135,000 |
$1,135,000 |
$0 |
0.00% |
|
JACKSONVILLE, FL (FHA|USDA|VA)
|
3
|
$985,000 |
$328,333 |
$0 |
0.00% |
|
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)
|
7
|
$925,000 |
$132,143 |
$0 |
0.00% |
|
URBAN HONOLULU, HI (FHA|USDA|VA)
|
1
|
$825,000 |
$825,000 |
$0 |
0.00% |
|
TWIN FALLS, ID (FHA|USDA|VA)
|
4
|
$800,000 |
$200,000 |
$0 |
0.00% |
|
BOISE CITY, ID (FHA|USDA|VA)
|
2
|
$740,000 |
$370,000 |
$0 |
0.00% |
|
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA)
|
2
|
$710,000 |
$355,000 |
$0 |
0.00% |
|
IDAHO FALLS, ID (FHA|USDA|VA)
|
2
|
$630,000 |
$315,000 |
$0 |
0.00% |
|
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA)
|
6
|
$620,000 |
$103,333 |
$0 |
0.00% |
|
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)
|
4
|
$600,000 |
$150,000 |
$0 |
0.00% |
|
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)
|
4
|
$560,000 |
$140,000 |
$0 |
0.00% |
|
ST. LOUIS, MO-IL (FHA|USDA|VA)
|
6
|
$550,000 |
$91,667 |
$0 |
0.00% |
|
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA)
|
1
|
$545,000 |
$545,000 |
$0 |
0.00% |
|
TUCSON, AZ (FHA|USDA|VA)
|
2
|
$530,000 |
$265,000 |
$0 |
0.00% |
|
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)
|
1
|
$515,000 |
$515,000 |
$0 |
0.00% |
|
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA)
|
1
|
$505,000 |
$505,000 |
$0 |
0.00% |
|
YORK-HANOVER, PA (FHA|USDA|VA)
|
3
|
$455,000 |
$151,667 |
$0 |
0.00% |
|
ALBANY-LEBANON, OR (FHA|USDA|VA)
|
1
|
$405,000 |
$405,000 |
$0 |
0.00% |
|
FLINT, MI (FHA|USDA|VA)
|
4
|
$380,000 |
$95,000 |
$0 |
0.00% |
|
FAYETTEVILLE, NC (FHA|USDA|VA)
|
3
|
$375,000 |
$125,000 |
$0 |
0.00% |
|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)
|
1
|
$365,000 |
$365,000 |
$0 |
0.00% |
|
CHATTANOOGA, TN-GA (FHA|USDA|VA)
|
1
|
$365,000 |
$365,000 |
$0 |
0.00% |
|
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)
|
1
|
$355,000 |
$355,000 |
$0 |
0.00% |
|
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA)
|
1
|
$345,000 |
$345,000 |
$0 |
0.00% |
|
JOHNSON CITY, TN (FHA|USDA|VA)
|
3
|
$345,000 |
$115,000 |
$0 |
0.00% |
|
Rexburg, ID (FHA|USDA|VA)
|
1
|
$315,000 |
$315,000 |
$0 |
0.00% |
|
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)
|
2
|
$310,000 |
$155,000 |
$0 |
0.00% |
|
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)
|
1
|
$275,000 |
$275,000 |
$0 |
0.00% |
|
AKRON, OH (FHA|USDA|VA)
|
1
|
$235,000 |
$235,000 |
$0 |
0.00% |
|
LOGAN, UT-ID (FHA|USDA|VA)
|
1
|
$205,000 |
$205,000 |
$0 |
0.00% |
|
Kalispell, MT (FHA|USDA|VA)
|
1
|
$205,000 |
$205,000 |
$0 |
0.00% |
|
WICHITA, KS (FHA|USDA|VA)
|
2
|
$200,000 |
$100,000 |
$0 |
0.00% |
|
Evanston, WY (FHA|USDA|VA)
|
1
|
$185,000 |
$185,000 |
$0 |
0.00% |
|
RICHMOND, VA (FHA|USDA|VA)
|
1
|
$185,000 |
$185,000 |
$0 |
0.00% |
|
ANCHORAGE, AK (FHA|USDA|VA)
|
1
|
$165,000 |
$165,000 |
$0 |
0.00% |
|
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)
|
1
|
$165,000 |
$165,000 |
$0 |
0.00% |
|
GREENVILLE-ANDERSON, SC (FHA|USDA|VA)
|
1
|
$155,000 |
$155,000 |
$0 |
0.00% |
|
Price, UT (FHA|USDA|VA)
|
1
|
$155,000 |
$155,000 |
$0 |
0.00% |
|
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA)
|
1
|
$145,000 |
$145,000 |
$0 |
0.00% |
|
Butte-Silver Bow, MT (FHA|USDA|VA)
|
1
|
$95,000 |
$95,000 |
$0 |
0.00% |
|
CLEVELAND-ELYRIA, OH (FHA|USDA|VA)
|
1
|
$95,000 |
$95,000 |
$0 |
0.00% |
|
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$0 |
0.00% |
Rock Canyon Bank's top markets include Provo, St. George, Salt Lake City, Memphis, and Ogden among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
534 |
$155,140,000 |
$290,524 |
$3,302 |
2.69% |
For the 2021 period, Rock Canyon Bank's most frequently
originated loan type
of loans were Conventional, with 534 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Refi |
213 |
$63,495,000 |
$298,099 |
$0 |
0.00% |
| Home Purchase |
172 |
$46,030,000 |
$267,616 |
$0 |
0.00% |
| Cash Out Refi |
149 |
$45,615,000 |
$306,141 |
$3,302 |
2.69% |
For the 2021, Rock Canyon Bank's most frequently cited loan
purpose
of loans were Refi, with 213
originations.
The 2nd most popular reason of loans were Home Purchase,
with 172 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
532 |
$154,190,000 |
$289,831 |
$0 |
0.00% |
| 15 Year |
1 |
$645,000 |
$645,000 |
$2,700 |
2.13% |
| 30 Year |
1 |
$305,000 |
$305,000 |
$3,904 |
3.25% |
For the 2021, Rock Canyon Bank's most frequently cited loan
length
of loans were Other, with 532 originations.
The 2nd most popular length of loans were 15 Year,
with 1 originations.
Origination Fees
| Origination Fee |
Originations |
Total Value |
Average Loan |
| $<1k |
1 |
$645,000 |
$645,000 |
| $1k-2k |
1 |
$305,000 |
$305,000 |
$3,904 of loans were Rock Canyon Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 1 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| <2.5% |
1 |
$645,000 |
$645,000 |
| 3-4% |
1 |
$305,000 |
$305,000 |
During 2021, Rock Canyon Bank's average interest
rate of loans were 3.25%, while their
most frequently originated rate bucket of loans were <2.5%,
with 1 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
213 |
$61,595,000 |
$289,178 |
$3,904 |
3.25% |
| $100k-200k |
166 |
$25,490,000 |
$153,554 |
$0 |
0.00% |
| $400k-600k |
98 |
$46,860,000 |
$478,163 |
$0 |
0.00% |
| $100,000 or less |
39 |
$3,315,000 |
$85,000 |
$0 |
0.00% |
| $600k-1MM |
11 |
$7,805,000 |
$709,545 |
$2,700 |
2.13% |
| $1MM+ |
7 |
$10,075,000 |
$1,439,286 |
$0 |
0.00% |
2021 saw Rock Canyon Bank place emphasis on
$200k-400k loans
with 213 originations, totaling
$61,595,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-150k |
110 |
$32,660,000 |
$296,909 |
$0 |
0.00% |
| $150k-250k |
106 |
$33,030,000 |
$311,604 |
$0 |
0.00% |
| $75k-100k |
101 |
$28,795,000 |
$285,099 |
$3,904 |
3.25% |
| $50k-75k |
91 |
$22,275,000 |
$244,780 |
$0 |
0.00% |
| $250k+ |
69 |
$25,595,000 |
$370,942 |
$2,700 |
2.13% |
| $50k or less |
52 |
$8,160,000 |
$156,923 |
$0 |
0.00% |
Rock Canyon Bank lent most frequently to those with incomes in the
$100k-150k range, with
110 originations.
The second most popular income band? $150k-250k,
with 106 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
532 |
$154,190,000 |
$289,831 |
$0 |
0.00% |
| 20-30% |
1 |
$305,000 |
$305,000 |
$3,904 |
3.25% |
| 30-36% |
1 |
$645,000 |
$645,000 |
$2,700 |
2.13% |
Rock Canyon Bank lent most frequently to those with DTI ratios
of Exempt%, with
532 originations.
The next most common DTI ratio? 20-30%,
with 1 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
475 |
$134,195,000 |
$282,516 |
$3,302 |
2.69% |
| Not provided |
38 |
$12,180,000 |
$320,526 |
$0 |
0.00% |
| Not applicable |
5 |
$4,625,000 |
$925,000 |
$0 |
0.00% |
| Asian |
8 |
$2,240,000 |
$280,000 |
$0 |
0.00% |
| Native Hawaiian |
3 |
$915,000 |
$305,000 |
$0 |
0.00% |
| American Indian |
3 |
$675,000 |
$225,000 |
$0 |
0.00% |
| Black |
1 |
$175,000 |
$175,000 |
$0 |
0.00% |
| Asian Indian |
1 |
$135,000 |
$135,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
97.65%
Rock Canyon 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
94.10%
Rock Canyon Bank has an average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
532 |
$154,190,000 |
$289,831 |
| NA |
2 |
$950,000 |
$475,000 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
534 |
$155,140,000 |
$290,524 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
1 |
$645,000 |
$645,000 |
$2,700 |
2.13% |
| 60-80% |
1 |
$305,000 |
$305,000 |
$3,904 |
3.25% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Rock Canyon Bank |
3610 N Digital Dr Lehi, UT 84043 |
Full Service B&M
|
$19,843 |
| Rock Canyon Bank |
475 East State Road Pleasant Grove, UT 84062 |
Full Service B&M
|
$171,334 |
| Rock Canyon Bank |
580 North Main Street Fillmore, UT 84631 |
Full Service B&M
|
$8,819 |
| Rock Canyon Bank |
94 East Tabernacle Street Saint George, UT 84770 |
Full Service B&M
|
$62,795 |
| Rock Canyon Bank |
99 N Main Street Spanish Fork, UT 84660 |
Full Service B&M
|
$141,882 |
| Rock Canyon Bank |
1376 North State Street Orem, UT 84057 |
Full Service B&M
|
$191,042 |
| Rock Canyon Bank |
215 W 2230 N Provo, UT 84604 |
Full Service B&M
|
$81,507 |
For 2021, Rock Canyon Bank had 7 branches.
Yearly Performance Overview
Bank Income
Rock Canyon Bank's gross interest income from loans was $33,735,000.
Rock Canyon Bank's net interest income from loans was $30,537,000.
Rock Canyon Bank's fee based income from loans was $270,000.
Rock Canyon Bank's net income from loans was $9,695,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$3,198 |
| Provision for credit losses |
$264 |
| Total noninterest expense |
$30,585 |
| Salaries and employee benefits |
$24,296 |
| Premises and equipment expense |
$3,220 |
| Additional noninterest expense |
$3,069 |
| Applicable income taxes |
$2,633 |
| Net charge-offs |
$-2 |
| Cash dividends |
$0 |
Rock Canyon Bank's interest expense for loans was $3,198,000.
Rock Canyon Bank's payroll and benefits expense were $24,296,000.
Rock Canyon Bank's property, plant and equipment expenses $3,220,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$737,035 |
| Deposits held in domestic offices |
$737,035 |
| Deposits by Individuals, partnerships, and corporations |
$703,131 |
| Deposits by U.S. Government |
$6,098 |
| Deposits by States and political subdivisions in the U.S. |
$5,696 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$22,110 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$310,462 |
| Demand deposits |
$289,896 |
| Nontransaction accounts |
$426,573 |
| Money market deposit accounts (MMDAs) |
$288,162 |
| Other savings deposits (excluding MMDAs) |
$46,864 |
| Total time deposits |
$91,547 |
| Total time and savings deposits |
$447,139 |
| Noninterest-bearing deposits |
$289,933 |
| Interest-bearing deposits |
$447,102 |
| Retail deposits |
$685,785 |
| IRAs and Keogh plan accounts |
$3,129 |
| Brokered deposits |
$18,851 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$814,371 |
| Cash & Balances due from depository institutions |
$304,058 |
| Interest-bearing balances |
$294,922 |
| Total securities |
$60 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$489,438 |
| Loan and leases loss allowance |
$4,933 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$4,498 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$3,379 |
| All other assets |
$12,938 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$814,371 |
| Total Liabilities |
$742,676 |
| Total deposits |
$737,035 |
| Interest-bearing deposits |
$447,102 |
| Deposits held in domestic offices |
$737,035 |
| % insured (estimated) |
$48 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$0 |
| Subordinated debt |
$0 |
| All other liabilities |
$5,641 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$489,438 |
| Loan and leases loss allowance |
$4,933 |
| Total loans and leases (domestic) |
$494,371 |
| All real estate loans |
$415,938 |
| Real estate loans in domestic offices |
$415,938 |
| Construction and development loans |
$70,659 |
| Residential 1-4 family construction |
$18,459 |
| Other construction, all land development and other land |
$52,200 |
| Loans secured by nonfarm nonresidential properties |
$230,701 |
| Nonfarm nonresidential secured by owner-occupied properties |
$157,114 |
| Commercial real estate & other non-farm, non-residential |
$73,587 |
| Multifamily residential real estate |
$22,034 |
| 1-4 family residential loans |
$32,859 |
| Farmland loans |
$59,685 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$8,917 |
| Commercial and industrial loans |
$68,467 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$918 |
| Credit card loans |
$0 |
| Related Plans |
$86 |
| Consumer Auto Loans |
$225 |
| Other loans to individuals |
$607 |
| All other loans & leases |
$131 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$131 |
| 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 |
$381 |
| Non 1-4 family restructured loans & leases |
$381 |
| Total loans and leases (foreign) |
$0 |
Rock Canyon Bank had $489,438,000 of loans outstanding in 2021. $415,938,000 of loans were in real estate loans.
$70,659,000 of loans were in development loans. $22,034,000 of loans were in multifamily mortgage loans.
$32,859,000 of loans were in 1-4 family mortgage loans. $8,917,000 of loans were in farm loans. $0
of loans were in credit card loans. $225,000 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 |
237 |
$67,106 |
$283,148 |
| Nonfarm, nonresidential loans - <$100k |
19 |
$663 |
$34,895 |
| Nonfarm, nonresidential loans - $100-250k |
49 |
$6,879 |
$140,388 |
| Nonfarm, nonresidential loans - $250k-1MM |
169 |
$59,564 |
$352,450 |
| Commercial & Industrial, US addressed loans - <$1MM |
292 |
$25,253 |
$86,483 |
| Commercial & Industrial, US addressed loans - <$100k |
171 |
$3,742 |
$21,883 |
| Commercial & Industrial, US addressed loans - $100-250k |
44 |
$4,309 |
$97,932 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
77 |
$17,202 |
$223,403 |
| Farmland loans - <$1MM |
52 |
$4,922 |
$94,654 |
| Farmland loans - <$100k |
10 |
$328 |
$32,800 |
| Farmland loans - $100-250k |
23 |
$2,685 |
$116,739 |
| Farmland loans - $250k-1MM |
19 |
$1,909 |
$100,474 |
| Agriculture operations loans - <$1MM |
82 |
$5,520 |
$67,317 |
| Agriculture operations loans - <$100k |
54 |
$1,853 |
$34,315 |
| Agriculture operations loans - $100-250k |
17 |
$1,813 |
$106,647 |
| Agriculture operations loans - $250k-1MM |
11 |
$1,854 |
$168,545 |
