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

Jump to:

  • 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 Refi and Home Purchase 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, Las Vegas, Salt Lake City, and Flagstaff among others. We have data for 10 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    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

    862

    Origination Dollar Volume (All Markets)

    $194,830,000

    Employee count

    239

    Awards

    State Bank of Southern Utah 30 Year Conventional Loans gold State Bank of Southern Utah 30 Year Conventional Loans silver
    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) 379 $86,875,000 $229,222 $3,067 3.28%
    Outside of Metro Areas 276 $55,020,000 $199,348 $3,217 3.24%
    ST. GEORGE, UT (FHA|USDA|VA) 187 $48,335,000 $258,476 $3,164 3.18%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 7 $1,655,000 $236,429 $2,866 3.09%
    SALT LAKE CITY, UT (FHA|USDA|VA) 4 $1,180,000 $295,000 $3,122 3.03%
    FLAGSTAFF, AZ (FHA|USDA|VA) 3 $465,000 $155,000 $3,885 3.21%
    LOGAN, UT-ID (FHA|USDA|VA) 2 $430,000 $215,000 $3,050 2.94%
    PROVO-OREM, UT (FHA|USDA|VA) 2 $420,000 $210,000 $2,583 3.94%
    OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $285,000 $285,000 $2,840 3.25%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $3,272 3.25%
    State Bank Of Southern Utah's top markets include Cedar City, St. George, Las Vegas, Salt Lake City, and Flagstaff among others.

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

    University First Federal Credit Union
    Similarity Rank: 153
    CYPRUS Federal Credit Union
    Similarity Rank: 320
    UTAH COMMUNITY
    Similarity Rank: 370
    State Bank of Southern Utah
    Similarity Rank: 530
    MY MOVE MORTGAGE, LLC
    Similarity Rank: 783
    GOLDENWEST
    Similarity Rank: 800
    Cache Valley Bank
    Similarity Rank: 1102
    SECURITY HOME MORTGAGE, LLC.
    Similarity Rank: 1298
    Altabank
    Similarity Rank: 1885
    Utah Mortgage Loan Corporation
    Similarity Rank: 2580

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 853 $191,955,000 $225,035 $3,064 3.24%
    VA 5 $1,905,000 $381,000 $11,795 3.33%
    USDA 4 $970,000 $242,500 $6,337 3.09%

    For 2020, State Bank Of Southern Utah's most frequently originated type of loan was Conventional, with 853 originations. Their 2nd most popular type was VA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 401 $84,655,000 $211,110 $2,805 3.14%
    Home Purchase 276 $73,510,000 $266,341 $3,667 3.36%
    Cash Out Refi 182 $36,460,000 $200,330 $3,130 3.28%
    Other 3 $205,000 $68,333 $2,461 2.88%

    For 2020, State Bank Of Southern Utah's most frequently cited loan purpose was Refi, with 401 originations. The 2nd most popular reason was Home Purchase, with 276 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 605 $138,225,000 $228,471 $3,207 3.21%
    15 Year 171 $31,015,000 $181,374 $2,944 2.91%
    20 Year 57 $12,735,000 $223,421 $3,042 3.79%
    Other 9 $6,225,000 $691,667 $0 5.29%
    10 Year 9 $1,925,000 $213,889 $2,914 3.53%
    1 Year 7 $3,535,000 $505,000 $1,945 5.39%
    5 Year 3 $935,000 $311,667 $1,454 4.93%
    3 Year 1 $235,000 $235,000 $0 4.20%

    For 2020, State Bank Of Southern Utah's most frequently cited loan duration was 30 Year, with 605 originations. The 2nd most popular length was 15 Year, with 171 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 590 $125,050,000 $211,949
    $2k-3k 85 $21,155,000 $248,882
    $<1k 47 $8,325,000 $177,128
    $3k-4k 34 $9,830,000 $289,118
    $4k-5k 13 $4,475,000 $344,231
    $5k+ 8 $3,420,000 $427,500

    State Bank Of Southern Utah's average total fees were $3,207, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 590 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 398 $91,060,000 $228,794
    2.5-3% 336 $70,350,000 $209,375
    <2.5% 56 $10,630,000 $189,821
    4-5% 49 $16,775,000 $342,347
    5-6% 21 $5,795,000 $275,952
    6-7% 2 $220,000 $110,000

    During 2020, State Bank Of Southern Utah's average interest rate for loans was 3.21%, while their most frequently originated rate bucket for loans was 3-4%, with 398 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 367 $98,485,000 $268,351 $3,371 3.22%
    $100k-200k 363 $54,195,000 $149,298 $2,651 3.22%
    $100,000 or less 65 $4,895,000 $75,308 $2,361 3.20%
    $400k-600k 61 $28,705,000 $470,574 $5,142 3.38%
    $1MM+ 5 $7,645,000 $1,529,000 $0 4.80%
    $600k-1MM 1 $905,000 $905,000 $0 5.00%

    2020 saw State Bank Of Southern Utah place emphasis on $200k-400k loans with 367 originations, totaling $98,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 216 $42,970,000 $198,935 $2,962 3.10%
    $100k-150k 158 $39,620,000 $250,759 $3,519 3.20%
    $50k or less 149 $21,775,000 $146,141 $2,667 3.21%
    $75k-100k 128 $28,540,000 $222,969 $3,365 3.21%
    $150k-250k 61 $17,875,000 $293,033 $3,551 3.07%
    $250k+ 43 $12,895,000 $299,884 $3,746 3.59%

    State Bank Of Southern Utah lent most frequently to those with incomes in the $50k-75k range, with 216 originations. The second most popular income band? $100k-150k, with 158 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 261 $53,995,000 $206,877 $2,942 3.07%
    30-36% 148 $35,230,000 $238,041 $3,416 3.19%
    <20% 116 $21,590,000 $186,121 $2,919 2.97%
    36% 46 $9,830,000 $213,696 $3,204 3.17%
    41% 31 $7,445,000 $240,161 $3,314 3.22%
    38% 24 $6,310,000 $262,917 $3,802 3.20%
    39% 22 $5,230,000 $237,727 $3,293 3.15%
    37% 22 $4,210,000 $191,364 $2,740 3.28%
    44% 22 $5,730,000 $260,455 $3,187 3.24%
    42% 19 $3,935,000 $207,105 $3,064 3.14%
    40% 19 $3,635,000 $191,316 $2,838 3.59%
    47% 17 $4,315,000 $253,824 $2,962 3.21%
    46% 17 $4,575,000 $269,118 $3,306 3.13%
    49% 15 $4,055,000 $270,333 $3,317 3.18%
    43% 14 $3,340,000 $238,571 $2,733 3.13%
    48% 11 $1,525,000 $138,636 $2,736 3.24%
    45% 8 $1,510,000 $188,750 $3,251 3.08%
    50-60% 3 $1,185,000 $395,000 $11,633 3.17%

    State Bank Of Southern Utah lent most frequently to those with DTI ratios of 20-30%, with 261 originations. The next most common DTI ratio? 30-36%, with 148 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 808 $175,840,000 $217,624 $3,134 3.17%
    Not applicable 31 $14,525,000 $468,548 $0 5.13%
    Not provided 16 $2,760,000 $172,500 $3,163 3.15%
    American Indian 3 $785,000 $261,667 $3,013 3.46%
    Black 2 $530,000 $265,000 $4,221 3.19%
    Native Hawaiian or Islander 1 $245,000 $245,000 $3,364 3.50%
    Asian 1 $145,000 $145,000 $2,582 3.25%

    Approval Rates

    Total approvals of all applications
    88.58%

    State Bank Of Southern Utah has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.85%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 862 $194,830,000 $226,021

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $455,000 $455,000
    Multifamily:Site-Built 7 $7,615,000 $1,087,857
    Single Family (1-4 Units):Manufactured 52 $8,090,000 $155,577
    Single Family (1-4 Units):Site-Built 802 $178,670,000 $222,781

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 87 $13,745,000 $157,989 $2,552 3.01%
    40-60% 223 $43,715,000 $196,031 $2,921 3.08%
    60-80% 371 $93,015,000 $250,714 $3,219 3.40%
    80-100% 162 $41,740,000 $257,654 $3,491 3.24%
    Over 100% 1 $595,000 $595,000 $24,956 3.25%
    Under 20% 18 $2,020,000 $112,222 $2,453 3.20%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Closing on a mortgage 3 15.8%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 2 10.5%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 11 57.9%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Struggling to pay mortgage 2 10.5%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 1 5.3%

    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 $68,750
    State Bank of Southern Utah 125 West Main Street Circleville, UT 84723 Full Service B&M $25,510
    State Bank of Southern Utah 1322 South Interstate Drive Cedar City, UT 84720 Full Service B&M $54,710
    State Bank of Southern Utah 1337 E. 170 S. Saint George, UT 84790 Full Service B&M $149,499
    State Bank of Southern Utah 200 North Main Tropic, UT 84776 Full Service B&M $28,599
    State Bank of Southern Utah 225 West Main Street Delta, UT 84624 Full Service B&M $7,793
    State Bank of Southern Utah 2287 Santa Clara Drive Santa Clara, UT 84765 Full Service B&M $48,054
    State Bank of Southern Utah 250 West Main Street Escalante, UT 84726 Full Service B&M $1,336
    State Bank of Southern Utah 310 South Main Street Fillmore, UT 84631 Full Service B&M $17,664
    State Bank of Southern Utah 377 North Main Cedar City, UT 84721 Full Service B&M $449,447
    State Bank of Southern Utah 395 East St. George Boulevard St. George, UT 84770 Full Service B&M $107,289
    State Bank of Southern Utah 55 East State Street Orderville, UT 84758 Full Service B&M $29,541
    State Bank of Southern Utah 720 West State Street Hurricane, UT 84737 Full Service B&M $141,612
    State Bank of Southern Utah 93 North Main Street Parowan, UT 84761 Full Service B&M $54,313
    State Bank of Southern Utah 99 West Center Street Kanab, UT 84741 Full Service B&M $61,179
    State Bank of Southern Utah Main And Center Streets Richfield, UT 84701 Full Service B&M $90,802

    For 2020, State Bank Of Southern Utah had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $61,472
    Net interest income $54,916
    Total noninterest income $11,032
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $962
    Trading account gains and fees $0
    Additional Noninterest Income $10,070
    Pre-tax net operating income $28,583
    Securities gains (or losses, -) $170
    Income before extraordinary items $21,788
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $21,788
    Minority interest net income $0
    Net income $21,788
    Sale, conversion, retirement of capital stock, net $303
    Net operating income $21,653

    State Bank Of Southern Utah's gross interest income from loans was $61,472,000.
    State Bank Of Southern Utah's net interest income from loans was $54,916,000.
    State Bank Of Southern Utah's fee based income from loans was $962,000.
    State Bank Of Southern Utah's net income from loans was $21,788,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,556
    Provision for credit losses $4,300
    Total noninterest expense $33,065
    Salaries and employee benefits $20,537
    Premises and equipment expense $3,476
    Additional noninterest expense $9,052
    Applicable income taxes $6,965
    Net charge-offs $159
    Cash dividends $4,005

    State Bank Of Southern Utah's interest expense for loans was $6,556,000.
    State Bank Of Southern Utah's payroll and benefits expense were $20,537,000.
    State Bank Of Southern Utah's property, plant and equipment expenses $3,476,000.

    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,467,091
    Deposits held in domestic offices $1,467,091
    Deposits by Individuals, partnerships, and corporations $1,388,816
    Deposits by U.S. Government $7
    Deposits by States and political subdivisions in the U.S. $77,273
    Deposits by Commercial banks and other depository institutions in U.S. $995
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $102,269
    Demand deposits $71,231
    Nontransaction accounts $1,364,822
    Money market deposit accounts (MMDAs) $221,768
    Other savings deposits (excluding MMDAs) $888,024
    Total time deposits $255,030
    Total time and savings deposits $1,395,860
    Noninterest-bearing deposits $440,343
    Interest-bearing deposits $1,026,748
    Retail deposits $1,414,445
    IRAs and Keogh plan accounts $72,783
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,681,673
    Cash & Balances due from depository institutions $359,418
    Interest-bearing balances $341,619
    Total securities $319,883
    Federal funds sold & reverse repurchase $2,362
    Net loans and leases $925,952
    Loan and leases loss allowance $13,480
    Trading account assets $0
    Bank premises and fixed assets $25,314
    Other real estate owned $2,713
    Goodwill and other intangibles $5,312
    All other assets $40,719

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,681,673
    Total Liabilities $1,489,017
    Total deposits $1,467,091
    Interest-bearing deposits $1,026,748
    Deposits held in domestic offices $1,467,091
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $7,138
    Trading liabilities $0
    Other borrowed funds $1,600
    Subordinated debt $0
    All other liabilities $13,188

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $925,952
    Loan and leases loss allowance $13,480
    Total loans and leases (domestic) $939,432
    All real estate loans $707,082
    Real estate loans in domestic offices $707,082
    Construction and development loans $152,124
    Residential 1-4 family construction $37,214
    Other construction, all land development and other land $114,910
    Loans secured by nonfarm nonresidential properties $367,454
    Nonfarm nonresidential secured by owner-occupied properties $79,092
    Commercial real estate & other non-farm, non-residential $288,362
    Multifamily residential real estate $38,171
    1-4 family residential loans $112,414
    Farmland loans $36,919
    Loans held in foreign offices $0
    Farm loans $34,099
    Commercial and industrial loans $144,361
    To non-U.S. addressees $0
    Loans to individuals $36,046
    Credit card loans $3,270
    Related Plans $512
    Consumer Auto Loans $24,755
    Other loans to individuals $7,509
    All other loans & leases $17,844
    Loans to foreign governments and official institutions $0
    Other loans $971
    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 $2,659
    Non 1-4 family restructured loans & leases $2,441
    Total loans and leases (foreign) $0

    State Bank of Southern Utah had $925,952,000 of loans outstanding in 2020. $707,082,000 of loans were in real estate loans. $152,124,000 of loans were in development loans. $38,171,000 of loans were in multifamily mortgage loans. $112,414,000 of loans were in 1-4 family mortgage loans. $34,099,000 of loans were in farm loans. $3,270,000 of loans were in credit card loans. $24,755,000 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 529 $121,203 $229,117
    Nonfarm, nonresidential loans - <$100k 76 $3,360 $44,211
    Nonfarm, nonresidential loans - $100-250k 185 $21,762 $117,632
    Nonfarm, nonresidential loans - $250k-1MM 268 $96,081 $358,511
    Commercial & Industrial, US addressed loans - <$1MM 2,069 $103,657 $50,100
    Commercial & Industrial, US addressed loans - <$100k 1,678 $37,810 $22,533
    Commercial & Industrial, US addressed loans - $100-250k 245 $25,263 $103,114
    Commercial & Industrial, US addressed loans - $250k-1MM 146 $40,584 $277,973
    Farmland loans - <$1MM 184 $13,899 $75,538
    Farmland loans - <$100k 63 $2,527 $40,111
    Farmland loans - $100-250k 88 $6,119 $69,534
    Farmland loans - $250k-1MM 33 $5,253 $159,182
    Agriculture operations loans - <$1MM 454 $23,622 $52,031
    Agriculture operations loans - <$100k 336 $7,734 $23,018
    Agriculture operations loans - $100-250k 83 $8,051 $97,000
    Agriculture operations loans - $250k-1MM 35 $7,837 $223,914