State Bank Of Southern Utah Mortgage Rates, Fees & Info

Cedar City, UT

LEI: 549300IQGEUYRQBJC007

Tax ID: 87-0234702

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    State Bank Of Southern Utah is a smaller bank specializing in Home Purchase loans. State Bank Of Southern Utah has a high proportion of conventional loans. Their top markets by origination volume include: Cedar City, St. George, Flagstaff, Salt Lake City, and Provo among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    State Bank Of Southern Utah has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. State Bank Of Southern Utah 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
    Home Equity Line of Credit (HELOC) 6.27% 4/21/24
    30 Year Conventional Purchase 6.42% 4/21/24
    30 Year Conventional Refi 6.43% 4/21/24
    30 Year Cash-out Refi 6.59% 4/21/24
    30 Year VA Purchase 5.62% 4/21/24
    30 Year USDA Purchase 6.27% 4/21/24
    15 Year Conventional Purchase 5.95% 4/21/24
    15 Year Conventional Refi 6.18% 4/21/24
    15 Year Cash-out Refi 6.18% 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.

    State Bank Of Southern Utah Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from State Bank Of Southern Utah. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

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


    Originations

    437

    Origination Dollar Volume (All Markets)

    $95,665,000

    Employee count

    202

    Awards

    State Bank of Southern Utah 30 Year Conventional Loans gold State Bank of Southern Utah 30 Year Conventional Loans gold
    Show all (2) 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
    Cedar City, UT (FHA|USDA|VA) 220 $46,680,000 $212,182 $2,765 4.94%
    ST. GEORGE, UT (FHA|USDA|VA) 91 $25,355,000 $278,626 $3,185 4.94%
    Outside of Metro Areas 115 $22,235,000 $193,348 $2,801 4.90%
    FLAGSTAFF, AZ (FHA|USDA|VA) 5 $605,000 $121,000 $3,035 5.00%
    SALT LAKE CITY, UT (FHA|USDA|VA) 2 $300,000 $150,000 $2,350 4.56%
    PROVO-OREM, UT (FHA|USDA|VA) 1 $235,000 $235,000 $3,934 5.00%
    LOGAN, UT-ID (FHA|USDA|VA) 2 $130,000 $65,000 $2,221 5.42%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $125,000 $125,000 $2,299 5.50%
    State Bank Of Southern Utah's top markets include Cedar City, St. George, Flagstaff, Salt Lake City, and Provo among others.

    Their top states include:
  • Utah (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against State Bank of Southern Utah based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SECURITY SERVICE
    Similarity Rank: 128
    State Bank of Southern Utah
    Similarity Rank: 304
    Cache Valley Bank
    Similarity Rank: 390
    MY MOVE MORTGAGE, LLC
    Similarity Rank: 520
    GOLDENWEST
    Similarity Rank: 656
    AMERICA FIRST
    Similarity Rank: 782
    Bank of Utah
    Similarity Rank: 1050
    SUN AMERICAN MORTGAGE COMPANY
    Similarity Rank: 1100
    SECURITY HOME MORTGAGE, LLC.
    Similarity Rank: 1176
    Altabank
    Similarity Rank: 1392

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 437 $95,665,000 $218,913 $2,865 4.93%

    For 2018, State Bank Of Southern Utah's most frequently originated type of loan was Conventional, with 437 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 354 $82,640,000 $233,446 $2,916 4.96%
    Cash Out Refi 41 $6,835,000 $166,707 $2,667 4.89%
    Refi 28 $4,360,000 $155,714 $2,831 4.72%
    Other 12 $1,500,000 $125,000 $2,302 4.77%
    Home Improvement 2 $330,000 $165,000 $2,331 4.75%

    For 2018, State Bank Of Southern Utah's most frequently cited loan purpose was Home Purchase, with 354 originations. The 2nd most popular reason was Cash Out Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 331 $67,865,000 $205,030 $2,860 4.86%
    20 Year 49 $8,585,000 $175,204 $2,545 5.43%
    15 Year 35 $6,895,000 $197,000 $3,038 4.41%
    1 Year 11 $7,375,000 $670,455 $0 5.77%
    10 Year 4 $250,000 $62,500 $2,255 5.31%
    Other 4 $3,800,000 $950,000 $0 5.69%
    5 Year 3 $895,000 $298,333 $3,819 6.01%

    For 2018, State Bank Of Southern Utah's most frequently cited loan duration was 30 Year, with 331 originations. The 2nd most popular length was 20 Year, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 250 $47,520,000 $190,080
    $1k-2k 89 $18,535,000 $208,258
    $2k-3k 22 $5,450,000 $247,727
    $3k-4k 16 $3,890,000 $243,125
    $5k+ 3 $1,575,000 $525,000
    $4k-5k 1 $445,000 $445,000

    State Bank Of Southern Utah's average total fees were $2,860, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 250 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 270 $55,740,000 $206,444
    5-6% 140 $35,020,000 $250,143
    3-4% 15 $2,605,000 $173,667
    6-7% 11 $1,855,000 $168,636
    7-8% 1 $445,000 $445,000

    During 2018, State Bank Of Southern Utah's average interest rate for loans was 4.86%, while their most frequently originated rate bucket for loans was 4-5%, with 270 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 191 $28,235,000 $147,827 $2,598 4.90%
    $200k-400k 155 $42,205,000 $272,290 $3,177 4.89%
    $100,000 or less 63 $4,785,000 $75,952 $2,284 5.06%
    $400k-600k 19 $8,345,000 $439,211 $3,946 4.96%
    $1MM+ 5 $8,855,000 $1,771,000 $0 5.50%
    $600k-1MM 4 $3,240,000 $810,000 $9,987 5.41%

    2018 saw State Bank Of Southern Utah place emphasis on $100k-200k loans with 191 originations, totaling $28,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 100 $18,330,000 $183,300 $2,889 4.89%
    $50k or less 92 $13,480,000 $146,522 $2,542 4.77%
    $100k-150k 73 $17,845,000 $244,452 $2,932 4.85%
    $75k-100k 72 $15,540,000 $215,833 $2,966 4.79%
    $150k-250k 31 $7,345,000 $236,935 $3,194 5.02%
    $250k+ 19 $4,795,000 $252,368 $3,272 5.09%

    State Bank Of Southern Utah lent most frequently to those with incomes in the $50k-75k range, with 100 originations. The second most popular income band? $50k or less, with 92 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 85 $15,475,000 $182,059 $2,824 4.73%
    30-36% 76 $15,580,000 $205,000 $2,904 4.75%
    <20% 42 $6,840,000 $162,857 $2,703 4.85%
    37% 18 $3,820,000 $212,222 $2,968 4.98%
    49% 17 $3,545,000 $208,529 $2,926 4.77%
    38% 15 $3,335,000 $222,333 $2,948 4.70%
    39% 15 $2,345,000 $156,333 $2,489 4.73%
    44% 15 $3,755,000 $250,333 $3,223 4.92%
    42% 14 $3,100,000 $221,429 $2,767 4.92%
    41% 14 $3,270,000 $233,571 $2,777 4.80%
    47% 13 $2,985,000 $229,615 $2,997 4.88%
    48% 12 $2,340,000 $195,000 $2,686 4.80%
    40% 11 $2,275,000 $206,818 $3,020 4.90%
    43% 9 $2,165,000 $240,556 $2,927 4.81%
    46% 9 $1,905,000 $211,667 $2,588 4.88%
    45% 8 $2,160,000 $270,000 $3,690 4.84%
    36% 6 $2,070,000 $345,000 $3,192 5.02%
    50-60% 1 $145,000 $145,000 $2,799 5.00%
    >60% 1 $305,000 $305,000 $983 5.75%

    State Bank Of Southern Utah lent most frequently to those with DTI ratios of 20-30%, with 85 originations. The next most common DTI ratio? 30-36%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 379 $74,935,000 $197,718 $2,880 4.87%
    Not applicable 32 $14,980,000 $468,125 $0 5.78%
    Not provided 22 $4,960,000 $225,455 $2,656 4.77%
    Native Hawaiian or Islander 2 $470,000 $235,000 $2,563 5.19%
    Asian 2 $320,000 $160,000 $2,823 5.00%

    Approval Rates

    Total approvals of all applications
    89.47%

    State Bank Of Southern Utah has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.40%

    State Bank Of Southern Utah has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 437 $95,665,000 $218,913

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $11,040,000 $1,104,000
    Single Family (1-4 Units):Manufactured 47 $5,865,000 $124,787
    Single Family (1-4 Units):Site-Built 380 $78,760,000 $207,263

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $2,960,000 $113,846 $2,288 4.57%
    40-60% 65 $13,825,000 $212,692 $2,849 4.95%
    60-80% 191 $46,045,000 $241,073 $2,927 5.01%
    80-100% 151 $31,035,000 $205,530 $2,902 4.88%
    Under 20% 4 $1,800,000 $450,000 $2,023 5.37%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Closing on a mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 6 50.0%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 16.7%
    STATE FARM BANK, FSB Other type of mortgage Trouble during payment process 2 16.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    State Bank of Southern Utah 125 West Main Street Circleville, UT 84723 Full Service B&M $22,134
    State Bank of Southern Utah 1322 South Interstate Drive Cedar City, UT 84720 Full Service B&M $35,934
    State Bank of Southern Utah 1337 E. 170 S. Saint George, UT 84790 Full Service B&M $98,050
    State Bank of Southern Utah 200 North Main Tropic, UT 84776 Full Service B&M $24,080
    State Bank of Southern Utah 2287 Santa Clara Drive Santa Clara, UT 84765 Full Service B&M $36,166
    State Bank of Southern Utah 377 North Main Cedar City, UT 84721 Full Service B&M $338,115
    State Bank of Southern Utah 395 East St. George Boulevard St. George, UT 84770 Full Service B&M $87,695
    State Bank of Southern Utah 55 East State Street Orderville, UT 84758 Full Service B&M $25,453
    State Bank of Southern Utah 720 West State Street Hurricane, UT 84737 Full Service B&M $65,563
    State Bank of Southern Utah 93 North Main Street Parowan, UT 84761 Full Service B&M $40,077
    State Bank of Southern Utah 99 West Center Street Kanab, UT 84741 Full Service B&M $51,050
    State Bank of Southern Utah Main And Center Streets Richfield, UT 84701 Full Service B&M $58,230

    For 2018, State Bank Of Southern Utah had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $46,990
    Net interest income $42,390
    Total noninterest income $8,957
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,101
    Trading account gains and fees $0
    Additional Noninterest Income $7,856
    Pre-tax net operating income $27,092
    Securities gains (or losses, -) $0
    Income before extraordinary items $20,830
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $20,830
    Minority interest net income $0
    Net income $20,830
    Sale, conversion, retirement of capital stock, net $119
    Net operating income $20,830

    State Bank Of Southern Utah's gross interest income from loans was $46,990,000.
    State Bank Of Southern Utah's net interest income from loans was $42,390,000.
    State Bank Of Southern Utah's fee based income from loans was $1,101,000.
    State Bank Of Southern Utah's net income from loans was $20,830,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,600
    Provision for credit losses $0
    Total noninterest expense $24,255
    Salaries and employee benefits $14,633
    Premises and equipment expense $2,448
    Additional noninterest expense $7,174
    Applicable income taxes $6,262
    Net charge-offs $233
    Cash dividends $3,210

    State Bank Of Southern Utah's interest expense for loans was $4,600,000.
    State Bank Of Southern Utah's payroll and benefits expense were $14,633,000.
    State Bank Of Southern Utah's property, plant and equipment expenses $2,448,000.

    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 $907,806
    Deposits held in domestic offices $907,806
    Deposits by Individuals, partnerships, and corporations $866,068
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $41,738
    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 $9,562
    Demand deposits $8,729
    Nontransaction accounts $898,244
    Money market deposit accounts (MMDAs) $133,466
    Other savings deposits (excluding MMDAs) $554,836
    Total time deposits $209,943
    Total time and savings deposits $899,077
    Noninterest-bearing deposits $238,515
    Interest-bearing deposits $669,291
    Retail deposits $871,246
    IRAs and Keogh plan accounts $63,853
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,080,838
    Cash & Balances due from depository institutions $26,899
    Interest-bearing balances $11,079
    Total securities $281,623
    Federal funds sold & reverse repurchase $1,318
    Net loans and leases $708,419
    Loan and leases loss allowance $9,353
    Trading account assets $0
    Bank premises and fixed assets $21,725
    Other real estate owned $630
    Goodwill and other intangibles $3,500
    All other assets $36,724

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,080,838
    Total Liabilities $932,010
    Total deposits $907,806
    Interest-bearing deposits $669,291
    Deposits held in domestic offices $907,806
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $12,515
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $11,689

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $708,419
    Loan and leases loss allowance $9,353
    Total loans and leases (domestic) $717,772
    All real estate loans $579,917
    Real estate loans in domestic offices $579,917
    Construction and development loans $129,671
    Residential 1-4 family construction $38,713
    Other construction, all land development and other land $90,958
    Loans secured by nonfarm nonresidential properties $318,154
    Nonfarm nonresidential secured by owner-occupied properties $104,942
    Commercial real estate & other non-farm, non-residential $213,212
    Multifamily residential real estate $22,708
    1-4 family residential loans $83,148
    Farmland loans $26,236
    Loans held in foreign offices $0
    Farm loans $28,830
    Commercial and industrial loans $80,259
    To non-U.S. addressees $0
    Loans to individuals $25,139
    Credit card loans $3,582
    Related Plans $663
    Consumer Auto Loans $16,083
    Other loans to individuals $4,811
    All other loans & leases $3,626
    Loans to foreign governments and official institutions $0
    Other loans $897
    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 $1,453
    Non 1-4 family restructured loans & leases $1,156
    Total loans and leases (foreign) $0

    State Bank of Southern Utah had $708,419,000 of loans outstanding in 2018. $579,917,000 of loans were in real estate loans. $129,671,000 of loans were in development loans. $22,708,000 of loans were in multifamily mortgage loans. $83,148,000 of loans were in 1-4 family mortgage loans. $28,830,000 of loans were in farm loans. $3,582,000 of loans were in credit card loans. $16,083,000 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 489 $100,983 $206,509
    Nonfarm, nonresidential loans - <$100k 103 $4,975 $48,301
    Nonfarm, nonresidential loans - $100-250k 161 $19,123 $118,776
    Nonfarm, nonresidential loans - $250k-1MM 225 $76,885 $341,711
    Commercial & Industrial, US addressed loans - <$1MM 1,001 $50,282 $50,232
    Commercial & Industrial, US addressed loans - <$100k 789 $19,182 $24,312
    Commercial & Industrial, US addressed loans - $100-250k 135 $12,179 $90,215
    Commercial & Industrial, US addressed loans - $250k-1MM 77 $18,921 $245,727
    Farmland loans - <$1MM 160 $11,369 $71,056
    Farmland loans - <$100k 60 $2,368 $39,467
    Farmland loans - $100-250k 74 $6,021 $81,365
    Farmland loans - $250k-1MM 26 $2,980 $114,615
    Agriculture operations loans - <$1MM 314 $15,684 $49,949
    Agriculture operations loans - <$100k 237 $5,435 $22,932
    Agriculture operations loans - $100-250k 55 $4,753 $86,418
    Agriculture operations loans - $250k-1MM 22 $5,496 $249,818