State Bank Of Southern Utah Mortgage Rates, Fees & Info
Cedar City, UTLEI: 549300IQGEUYRQBJC007
Tax ID: 87-0234702
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Bank Data
Review & Overview
State Bank Of Southern Utah is a smaller bank specializing in Home Purchase and Refi loans. State Bank Of Southern Utah has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cedar City, St. George, Salt Lake City, Las Vegas, and Lake Havasu City among others. We have data for 9 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/14/24 |
| 30 Year Conventional Purchase | 6.42% | 4/14/24 |
| 30 Year Conventional Refi | 6.43% | 4/14/24 |
| 30 Year Cash-out Refi | 6.59% | 4/14/24 |
| 30 Year VA Purchase | 5.62% | 4/14/24 |
| 30 Year USDA Purchase | 6.27% | 4/14/24 |
| 15 Year Conventional Purchase | 5.95% | 4/14/24 |
| 15 Year Conventional Refi | 6.18% | 4/14/24 |
| 15 Year Cash-out Refi | 6.18% | 4/14/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
427Origination Dollar Volume (All Markets)
$99,625,000Employee count
227Awards
State Bank of Southern Utah - 2019
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For 2019, less than of lenders were eligible for this award.
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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) | 207 | $50,705,000 | $244,952 | $3,421 | 4.25% |
| Outside of Metro Areas | 130 | $25,890,000 | $199,154 | $3,048 | 4.34% |
| ST. GEORGE, UT (FHA|USDA|VA) | 79 | $20,675,000 | $261,709 | $4,120 | 4.01% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $3,358 | 3.92% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $4,101 | 4.25% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,619 | 5.30% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $2,653 | 3.63% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $2,782 | 4.75% |
| Vernal, UT (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 6.50% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 412 | $95,570,000 | $231,966 | $3,308 | 4.26% |
| VA | 10 | $2,930,000 | $293,000 | $6,005 | 3.66% |
| USDA | 5 | $1,125,000 | $225,000 | $6,114 | 3.28% |
For 2019, State Bank Of Southern Utah's most frequently originated type of loan was Conventional, with 412 originations. Their 2nd most popular type was VA, with 10 originations.
Loan Reason
For 2019, State Bank Of Southern Utah's most frequently cited loan purpose was Home Purchase, with 251 originations. The 2nd most popular reason was Refi, with 94 originations.
Loan Duration/Length
For 2019, State Bank Of Southern Utah's most frequently cited loan duration was 30 Year, with 333 originations. The 2nd most popular length was 15 Year, with 49 originations.
Origination Fees/Closing Costs
State Bank Of Southern Utah's average total fees were $3,458, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 240 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 206 | $49,020,000 | $237,961 |
| 4-5% | 152 | $31,690,000 | $208,487 |
| 5-6% | 38 | $9,330,000 | $245,526 |
| 6-7% | 20 | $7,440,000 | $372,000 |
| 2.5-3% | 11 | $2,145,000 | $195,000 |
During 2019, State Bank Of Southern Utah's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 3-4%, with 206 originations.
Loan Sizing
2019 saw State Bank Of Southern Utah place emphasis on $200k-400k loans with 179 originations, totaling $49,075,000 in origination value.
Applicant Income
State Bank Of Southern Utah lent most frequently to those with incomes in the $50k-75k range, with 106 originations. The second most popular income band? $50k or less, with 80 originations.
Applicant Debt to Income Ratio
State Bank Of Southern Utah lent most frequently to those with DTI ratios of 20-30%, with 84 originations. The next most common DTI ratio? 30-36%, with 67 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.36%
State Bank Of Southern Utah has an average approval rate.
Pick Rate
Approvals leading to origination75.64%
State Bank Of Southern Utah has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 427 | $99,625,000 | $233,314 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| STATE FARM BANK, FSB | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 16.7% |
| STATE FARM BANK, FSB | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 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 | 5 | 41.7% |
| STATE FARM BANK, FSB | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 16.7% |
| STATE FARM BANK, FSB | VA mortgage | Trouble during payment process | 1 | 8.3% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| State Bank of Southern Utah | 10 South Main Street Gunnison, UT 84634 | Full Service B&M | $54,845 |
| State Bank of Southern Utah | 125 West Main Street Circleville, UT 84723 | Full Service B&M | $22,203 |
| State Bank of Southern Utah | 1322 South Interstate Drive Cedar City, UT 84720 | Full Service B&M | $43,369 |
| State Bank of Southern Utah | 1337 E. 170 S. Saint George, UT 84790 | Full Service B&M | $115,831 |
| State Bank of Southern Utah | 200 North Main Tropic, UT 84776 | Full Service B&M | $24,561 |
| State Bank of Southern Utah | 2287 Santa Clara Drive Santa Clara, UT 84765 | Full Service B&M | $36,029 |
| State Bank of Southern Utah | 310 South Main Street Fillmore, UT 84631 | Full Service B&M | $7,147 |
| State Bank of Southern Utah | 377 North Main Cedar City, UT 84721 | Full Service B&M | $374,772 |
| State Bank of Southern Utah | 395 East St. George Boulevard St. George, UT 84770 | Full Service B&M | $89,493 |
| State Bank of Southern Utah | 55 East State Street Orderville, UT 84758 | Full Service B&M | $27,133 |
| State Bank of Southern Utah | 720 West State Street Hurricane, UT 84737 | Full Service B&M | $68,148 |
| State Bank of Southern Utah | 93 North Main Street Parowan, UT 84761 | Full Service B&M | $45,916 |
| State Bank of Southern Utah | 99 West Center Street Kanab, UT 84741 | Full Service B&M | $52,043 |
| State Bank of Southern Utah | Main And Center Streets Richfield, UT 84701 | Full Service B&M | $66,591 |
For 2019, State Bank Of Southern Utah had 14 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $57,604 |
| Net interest income | $50,240 |
| Total noninterest income | $7,909 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,126 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,783 |
| Pre-tax net operating income | $26,119 |
| Securities gains (or losses, -) | $582 |
| Income before extraordinary items | $20,439 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $20,439 |
| Minority interest net income | $0 |
| Net income | $20,439 |
| Sale, conversion, retirement of capital stock, net | $277 |
| Net operating income | $19,979 |
State Bank Of Southern Utah's gross interest income from loans was $57,604,000.
State Bank Of Southern Utah's net interest income from loans was $50,240,000.
State Bank Of Southern Utah's fee based income from loans was $1,126,000.
State Bank Of Southern Utah's net income from loans was $20,439,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $7,364 |
| Provision for credit losses | $2,000 |
| Total noninterest expense | $30,030 |
| Salaries and employee benefits | $17,428 |
| Premises and equipment expense | $2,900 |
| Additional noninterest expense | $9,702 |
| Applicable income taxes | $6,262 |
| Net charge-offs | $2,014 |
| Cash dividends | $4,399 |
State Bank Of Southern Utah's interest expense for loans was $7,364,000.
State Bank Of Southern Utah's payroll and benefits expense were $17,428,000.
State Bank Of Southern Utah's property, plant and equipment expenses $2,900,000.
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 | 1.0% |
| Personal loans | 2.0% |
| Credit card loans | 1.0% |
| Other individual loans | 2.0% |
| Auto loans | 2.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,064,165 |
| Deposits held in domestic offices | $1,064,165 |
| Deposits by Individuals, partnerships, and corporations | $1,003,573 |
| Deposits by U.S. Government | $12 |
| Deposits by States and political subdivisions in the U.S. | $60,330 |
| Deposits by Commercial banks and other depository institutions in U.S. | $250 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $53,314 |
| Demand deposits | $49,568 |
| Nontransaction accounts | $1,010,851 |
| Money market deposit accounts (MMDAs) | $138,002 |
| Other savings deposits (excluding MMDAs) | $629,077 |
| Total time deposits | $243,771 |
| Total time and savings deposits | $1,014,597 |
| Noninterest-bearing deposits | $288,252 |
| Interest-bearing deposits | $775,913 |
| Retail deposits | $1,020,130 |
| IRAs and Keogh plan accounts | $67,849 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,259,099 |
| Cash & Balances due from depository institutions | $90,528 |
| Interest-bearing balances | $64,276 |
| Total securities | $287,919 |
| Federal funds sold & reverse repurchase | $629 |
| Net loans and leases | $808,894 |
| Loan and leases loss allowance | $9,339 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $24,631 |
| Other real estate owned | $2,329 |
| Goodwill and other intangibles | $5,090 |
| All other assets | $39,079 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,259,099 |
| Total Liabilities | $1,089,641 |
| Total deposits | $1,064,165 |
| Interest-bearing deposits | $775,913 |
| Deposits held in domestic offices | $1,064,165 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $11,215 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,250 |
| Subordinated debt | $0 |
| All other liabilities | $12,011 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $808,894 |
| Loan and leases loss allowance | $9,339 |
| Total loans and leases (domestic) | $818,233 |
| All real estate loans | $651,743 |
| Real estate loans in domestic offices | $651,743 |
| Construction and development loans | $159,563 |
| Residential 1-4 family construction | $45,343 |
| Other construction, all land development and other land | $114,220 |
| Loans secured by nonfarm nonresidential properties | $332,956 |
| Nonfarm nonresidential secured by owner-occupied properties | $96,755 |
| Commercial real estate & other non-farm, non-residential | $236,201 |
| Multifamily residential real estate | $36,685 |
| 1-4 family residential loans | $92,627 |
| Farmland loans | $29,912 |
| Loans held in foreign offices | $0 |
| Farm loans | $38,846 |
| Commercial and industrial loans | $85,762 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $38,117 |
| Credit card loans | $3,542 |
| Related Plans | $633 |
| Consumer Auto Loans | $26,225 |
| Other loans to individuals | $7,717 |
| All other loans & leases | $3,765 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $811 |
| 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 | $1,545 |
| Non 1-4 family restructured loans & leases | $1,085 |
| Total loans and leases (foreign) | $0 |
State Bank of Southern Utah had $808,894,000 of loans outstanding in 2019. $651,743,000 of loans were in real estate loans. $159,563,000 of loans were in development loans. $36,685,000 of loans were in multifamily mortgage loans. $92,627,000 of loans were in 1-4 family mortgage loans. $38,846,000 of loans were in farm loans. $3,542,000 of loans were in credit card loans. $26,225,000 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 | 505 | $109,167 | $216,172 |
| Nonfarm, nonresidential loans - <$100k | 96 | $4,583 | $47,740 |
| Nonfarm, nonresidential loans - $100-250k | 165 | $19,746 | $119,673 |
| Nonfarm, nonresidential loans - $250k-1MM | 244 | $84,838 | $347,697 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,205 | $59,305 | $49,216 |
| Commercial & Industrial, US addressed loans - <$100k | 961 | $21,603 | $22,480 |
| Commercial & Industrial, US addressed loans - $100-250k | 151 | $12,885 | $85,331 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 93 | $24,817 | $266,849 |
| Farmland loans - <$1MM | 174 | $13,203 | $75,879 |
| Farmland loans - <$100k | 66 | $2,690 | $40,758 |
| Farmland loans - $100-250k | 78 | $5,758 | $73,821 |
| Farmland loans - $250k-1MM | 30 | $4,755 | $158,500 |
| Agriculture operations loans - <$1MM | 476 | $25,339 | $53,233 |
| Agriculture operations loans - <$100k | 358 | $8,814 | $24,620 |
| Agriculture operations loans - $100-250k | 82 | $7,781 | $94,890 |
| Agriculture operations loans - $250k-1MM | 36 | $8,744 | $242,889 |