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, Cash Out Refi, and Refi loans. State Bank Of Southern Utah has a high proportion of conventional loans. Their top markets by origination volume include: Cedar City, St. George, Provo, Las Vegas, and Flagstaff 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% 12/16/24
    30 Year Conventional Purchase 6.42% 12/16/24
    30 Year Conventional Refi 6.43% 12/16/24
    30 Year Cash-out Refi 6.59% 12/16/24
    30 Year VA Purchase 5.62% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 5.95% 12/16/24
    15 Year Conventional Refi 6.18% 12/16/24
    15 Year Cash-out Refi 6.18% 12/16/24
    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

    709

    Origination Dollar Volume (All Markets)

    $190,995,000

    Employee count

    256

    Awards

    State Bank of Southern Utah 30 Year Conventional Loans gold State Bank of Southern Utah 30 Year Conventional Loans bronze
    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) 292 $89,090,000 $305,103 $3,203 3.15%
    Outside of Metro Areas 242 $53,680,000 $221,818 $3,392 3.08%
    ST. GEORGE, UT (FHA|USDA|VA) 161 $44,405,000 $275,807 $3,385 3.03%
    PROVO-OREM, UT (FHA|USDA|VA) 4 $1,290,000 $322,500 $2,979 3.03%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 4 $1,100,000 $275,000 $2,865 2.72%
    FLAGSTAFF, AZ (FHA|USDA|VA) 3 $835,000 $278,333 $2,996 2.92%
    SALT LAKE CITY, UT (FHA|USDA|VA) 1 $325,000 $325,000 $3,435 3.00%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $270,000 $135,000 $3,886 2.94%
    State Bank Of Southern Utah's top markets include Cedar City, St. George, Provo, Las Vegas, 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: 470
    State Bank of Southern Utah
    Similarity Rank: 592
    UTAH COMMUNITY
    Similarity Rank: 847
    GOLDENWEST
    Similarity Rank: 880
    Cache Valley Bank
    Similarity Rank: 1104
    SECURITY HOME MORTGAGE, LLC.
    Similarity Rank: 1675
    North American Savings Bank, F.S.B.
    Similarity Rank: 2340
    MY MOVE MORTGAGE, LLC
    Similarity Rank: 2457
    Bank of Utah
    Similarity Rank: 4032
    AMERICA FIRST
    Similarity Rank: 4171

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 709 $190,995,000 $269,386 $3,307 3.09%

    For 2021, State Bank Of Southern Utah's most frequently originated type of loan was Conventional, with 709 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 259 $94,425,000 $364,575 $3,982 3.30%
    Cash Out Refi 228 $50,030,000 $219,430 $3,151 3.03%
    Refi 209 $44,275,000 $211,842 $2,781 2.90%
    Home Improvement 7 $1,135,000 $162,143 $2,886 3.20%
    Other 6 $1,130,000 $188,333 $3,083 3.19%

    For 2021, State Bank Of Southern Utah's most frequently cited loan purpose was Home Purchase, with 259 originations. The 2nd most popular reason was Cash Out Refi, with 228 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 493 $125,505,000 $254,574 $3,383 3.10%
    15 Year 140 $28,440,000 $203,143 $3,135 2.56%
    20 Year 45 $9,855,000 $219,000 $2,888 3.95%
    10 Year 10 $1,630,000 $163,000 $2,674 3.18%
    1 Year 10 $4,550,000 $455,000 $0 4.78%
    Other 10 $20,760,000 $2,076,000 $0 4.48%
    5 Year 1 $255,000 $255,000 $0 4.00%

    For 2021, State Bank Of Southern Utah's most frequently cited loan duration was 30 Year, with 493 originations. The 2nd most popular length was 15 Year, with 140 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 529 $117,485,000 $222,089
    $2k-3k 58 $16,110,000 $277,759
    $3k-4k 24 $7,570,000 $315,417
    $<1k 20 $4,090,000 $204,500
    $5k+ 20 $9,840,000 $492,000
    $4k-5k 9 $3,885,000 $431,667

    State Bank Of Southern Utah's average total fees were $3,383, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 529 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 308 $72,350,000 $234,903
    3-4% 248 $68,840,000 $277,581
    <2.5% 98 $20,760,000 $211,837
    4-5% 47 $27,695,000 $589,255
    5-6% 8 $1,350,000 $168,750

    During 2021, State Bank Of Southern Utah's average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 2.5-3%, with 308 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 290 $80,060,000 $276,069 $3,364 3.07%
    $100k-200k 274 $41,030,000 $149,745 $2,769 3.06%
    $400k-600k 83 $39,525,000 $476,205 $5,010 3.21%
    $100,000 or less 49 $3,805,000 $77,653 $2,456 3.00%
    $600k-1MM 7 $5,125,000 $732,143 $10,168 3.78%
    $1MM+ 6 $21,450,000 $3,575,000 $4,229 4.45%

    2021 saw State Bank Of Southern Utah place emphasis on $200k-400k loans with 290 originations, totaling $80,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 188 $38,530,000 $204,947 $3,050 3.01%
    $100k-150k 124 $34,210,000 $275,887 $3,380 3.04%
    $75k-100k 116 $28,820,000 $248,448 $3,440 3.06%
    $50k or less 110 $16,700,000 $151,818 $2,852 2.94%
    $150k-250k 61 $19,935,000 $326,803 $4,030 3.07%
    $250k+ 40 $14,200,000 $355,000 $4,572 3.43%

    State Bank Of Southern Utah lent most frequently to those with incomes in the $50k-75k range, with 188 originations. The second most popular income band? $100k-150k, with 124 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 177 $38,915,000 $219,859 $3,099 2.92%
    30-36% 142 $37,300,000 $262,676 $3,522 2.99%
    <20% 96 $19,720,000 $205,417 $2,974 2.88%
    40% 28 $8,150,000 $291,071 $3,512 3.01%
    42% 27 $6,775,000 $250,926 $3,840 2.98%
    41% 26 $6,960,000 $267,692 $3,589 3.06%
    36% 25 $6,405,000 $256,200 $3,716 2.98%
    44% 22 $4,970,000 $225,909 $2,978 3.00%
    43% 21 $5,235,000 $249,286 $3,269 3.03%
    38% 17 $4,375,000 $257,353 $3,799 3.15%
    46% 15 $3,155,000 $210,333 $2,841 3.14%
    37% 12 $3,150,000 $262,500 $3,676 3.08%
    48% 11 $2,775,000 $252,273 $3,195 2.98%
    45% 11 $2,665,000 $242,273 $3,226 3.03%
    47% 10 $3,110,000 $311,000 $3,254 3.01%
    39% 10 $2,960,000 $296,000 $3,600 3.04%
    49% 9 $2,225,000 $247,222 $3,657 3.13%
    50-60% 1 $135,000 $135,000 $2,823 2.88%

    State Bank Of Southern Utah lent most frequently to those with DTI ratios of 20-30%, with 177 originations. The next most common DTI ratio? 30-36%, with 142 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 659 $158,385,000 $240,341 $3,331 3.04%
    Not applicable 23 $26,085,000 $1,134,130 $0 4.76%
    Not provided 16 $3,470,000 $216,875 $2,588 2.91%
    American Indian 5 $1,055,000 $211,000 $2,842 3.33%
    Asian Indian 2 $870,000 $435,000 $3,512 2.94%
    Black 2 $700,000 $350,000 $3,141 3.00%
    Asian 2 $430,000 $215,000 $2,658 2.75%

    Approval Rates

    Total approvals of all applications
    88.53%

    State Bank Of Southern Utah has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.41%

    State Bank Of Southern Utah has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 709 $190,995,000 $269,386

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    709 $190,995,000 $269,386

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 110 $17,920,000 $162,909 $2,744 2.85%
    40-60% 227 $54,895,000 $241,828 $3,232 2.97%
    60-80% 285 $93,665,000 $328,649 $3,471 3.31%
    80-100% 76 $23,450,000 $308,553 $3,853 3.08%
    Under 20% 11 $1,065,000 $96,818 $2,578 2.59%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Incorrect information on your report 1 25.0%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 2 50.0%
    STATE FARM BANK, FSB Other type of mortgage Trouble during payment process 1 25.0%

    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 $73,555
    State Bank of Southern Utah 125 West Main Street Circleville, UT 84723 Full Service B&M $36,265
    State Bank of Southern Utah 1322 South Interstate Drive Cedar City, UT 84720 Full Service B&M $71,536
    State Bank of Southern Utah 1337 E. 170 S. Saint George, UT 84790 Full Service B&M $233,290
    State Bank of Southern Utah 200 North Main Tropic, UT 84776 Full Service B&M $39,520
    State Bank of Southern Utah 225 West Main Street Delta, UT 84624 Full Service B&M $20,086
    State Bank of Southern Utah 2287 Santa Clara Drive Santa Clara, UT 84765 Full Service B&M $61,275
    State Bank of Southern Utah 250 West Main Street Escalante, UT 84726 Full Service B&M $5,012
    State Bank of Southern Utah 310 South Main Street Fillmore, UT 84631 Full Service B&M $23,169
    State Bank of Southern Utah 377 North Main Cedar City, UT 84721 Full Service B&M $573,256
    State Bank of Southern Utah 395 East St. George Boulevard St. George, UT 84770 Full Service B&M $143,897
    State Bank of Southern Utah 55 East State Street Orderville, UT 84758 Full Service B&M $39,090
    State Bank of Southern Utah 720 West State Street Hurricane, UT 84737 Full Service B&M $153,639
    State Bank of Southern Utah 93 North Main Street Parowan, UT 84761 Full Service B&M $70,721
    State Bank of Southern Utah 99 West Center Street Kanab, UT 84741 Full Service B&M $79,203
    State Bank of Southern Utah Main And Center Streets Richfield, UT 84701 Full Service B&M $105,308

    For 2021, State Bank Of Southern Utah had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $66,076
    Net interest income $61,396
    Total noninterest income $12,763
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $882
    Trading account gains and fees $0
    Additional Noninterest Income $11,881
    Pre-tax net operating income $38,551
    Securities gains (or losses, -) $29
    Income before extraordinary items $29,628
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $29,628
    Minority interest net income $0
    Net income $29,628
    Sale, conversion, retirement of capital stock, net $315
    Net operating income $29,605

    State Bank Of Southern Utah's gross interest income from loans was $66,076,000.
    State Bank Of Southern Utah's net interest income from loans was $61,396,000.
    State Bank Of Southern Utah's fee based income from loans was $882,000.
    State Bank Of Southern Utah's net income from loans was $29,628,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,680
    Provision for credit losses $0
    Total noninterest expense $35,608
    Salaries and employee benefits $22,289
    Premises and equipment expense $3,101
    Additional noninterest expense $10,218
    Applicable income taxes $8,952
    Net charge-offs $27
    Cash dividends $4,005

    State Bank Of Southern Utah's interest expense for loans was $4,680,000.
    State Bank Of Southern Utah's payroll and benefits expense were $22,289,000.
    State Bank Of Southern Utah's property, plant and equipment expenses $3,101,000.

    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 0.3%
    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 $1,788,154
    Deposits held in domestic offices $1,788,154
    Deposits by Individuals, partnerships, and corporations $1,719,171
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $68,233
    Deposits by Commercial banks and other depository institutions in U.S. $747
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $190,501
    Demand deposits $116,099
    Nontransaction accounts $1,597,653
    Money market deposit accounts (MMDAs) $262,143
    Other savings deposits (excluding MMDAs) $1,076,882
    Total time deposits $258,627
    Total time and savings deposits $1,672,055
    Noninterest-bearing deposits $597,176
    Interest-bearing deposits $1,190,977
    Retail deposits $1,732,371
    IRAs and Keogh plan accounts $73,886
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,023,755
    Cash & Balances due from depository institutions $95,415
    Interest-bearing balances $81,753
    Total securities $769,116
    Federal funds sold & reverse repurchase $11,272
    Net loans and leases $1,069,520
    Loan and leases loss allowance $13,453
    Trading account assets $0
    Bank premises and fixed assets $26,908
    Other real estate owned $2,300
    Goodwill and other intangibles $5,956
    All other assets $43,268

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,023,755
    Total Liabilities $1,811,527
    Total deposits $1,788,154
    Interest-bearing deposits $1,190,977
    Deposits held in domestic offices $1,788,154
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $8,557
    Trading liabilities $0
    Other borrowed funds $800
    Subordinated debt $0
    All other liabilities $14,016

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,069,520
    Loan and leases loss allowance $13,453
    Total loans and leases (domestic) $1,082,973
    All real estate loans $880,078
    Real estate loans in domestic offices $880,078
    Construction and development loans $234,819
    Residential 1-4 family construction $70,012
    Other construction, all land development and other land $164,807
    Loans secured by nonfarm nonresidential properties $429,038
    Nonfarm nonresidential secured by owner-occupied properties $67,963
    Commercial real estate & other non-farm, non-residential $361,075
    Multifamily residential real estate $45,224
    1-4 family residential loans $132,464
    Farmland loans $38,533
    Loans held in foreign offices $0
    Farm loans $35,251
    Commercial and industrial loans $102,598
    To non-U.S. addressees $0
    Loans to individuals $38,281
    Credit card loans $3,337
    Related Plans $461
    Consumer Auto Loans $26,171
    Other loans to individuals $8,312
    All other loans & leases $26,765
    Loans to foreign governments and official institutions $0
    Other loans $810
    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 $2,033
    Non 1-4 family restructured loans & leases $1,801
    Total loans and leases (foreign) $0

    State Bank of Southern Utah had $1,069,520,000 of loans outstanding in 2021. $880,078,000 of loans were in real estate loans. $234,819,000 of loans were in development loans. $45,224,000 of loans were in multifamily mortgage loans. $132,464,000 of loans were in 1-4 family mortgage loans. $35,251,000 of loans were in farm loans. $3,337,000 of loans were in credit card loans. $26,171,000 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 540 $129,542 $239,893
    Nonfarm, nonresidential loans - <$100k 71 $3,223 $45,394
    Nonfarm, nonresidential loans - $100-250k 184 $21,586 $117,315
    Nonfarm, nonresidential loans - $250k-1MM 285 $104,733 $367,484
    Commercial & Industrial, US addressed loans - <$1MM 1,366 $73,642 $53,911
    Commercial & Industrial, US addressed loans - <$100k 1,068 $25,971 $24,317
    Commercial & Industrial, US addressed loans - $100-250k 179 $16,597 $92,721
    Commercial & Industrial, US addressed loans - $250k-1MM 119 $31,074 $261,126
    Farmland loans - <$1MM 183 $14,766 $80,689
    Farmland loans - <$100k 61 $2,610 $42,787
    Farmland loans - $100-250k 88 $6,628 $75,318
    Farmland loans - $250k-1MM 34 $5,528 $162,588
    Agriculture operations loans - <$1MM 458 $24,871 $54,303
    Agriculture operations loans - <$100k 330 $7,353 $22,282
    Agriculture operations loans - $100-250k 89 $8,769 $98,528
    Agriculture operations loans - $250k-1MM 39 $8,749 $224,333