Green Belt Bank & Trust Mortgage Rates, Fees & Info

Iowa Falls, IA

LEI: 549300JGL6C3EZEB8H05

Tax ID: 42-1279302

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Green Belt Bank & Trust is a smaller bank specializing in Refi loans. Green Belt Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Cedar Rapids, Waterloo, Des Moines, and Fort Dodge among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Green Belt Bank & Trust has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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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    Originations

    175

    Origination Dollar Volume (All Markets)

    $58,385,000

    Employee count

    74

    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
    AMES, IA (FHA|USDA|VA) 2 $24,060,000 $12,030,000 $0 0.00%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 3 $14,425,000 $4,808,333 $0 0.00%
    Outside of Metro Areas 125 $13,395,000 $107,160 $0 0.00%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 30 $3,420,000 $114,000 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 4 $1,020,000 $255,000 $0 0.00%
    Fort Dodge, IA (FHA|USDA|VA) 2 $800,000 $400,000 $0 0.00%
    Mason City, IA (FHA|USDA|VA) 3 $485,000 $161,667 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 2 $460,000 $230,000 $0 0.00%
    Marshalltown, IA (FHA|USDA|VA) 3 $215,000 $71,667 $0 0.00%
    Storm Lake, IA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Green Belt Bank & Trust's top markets include Ames, Cedar Rapids, Waterloo, Des Moines, and Fort Dodge among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 175 $58,385,000 $333,629 $0 0.00%

    For 2021, Green Belt Bank & Trust's most frequently originated type of loan was Conventional, with 175 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 92 $11,010,000 $119,674 $0 0.00%
    Refi 48 $44,310,000 $923,125 $0 0.00%
    Cash Out Refi 18 $2,180,000 $121,111 $0 0.00%
    Home Improvement 16 $870,000 $54,375 $0 0.00%
    Other 1 $15,000 $15,000 $0 0.00%

    For 2021, Green Belt Bank & Trust's most frequently cited loan purpose was Home Purchase, with 92 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 175 $58,385,000 $333,629 $0 0.00%

    For 2021, Green Belt Bank & Trust's most frequently cited loan duration was Other, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 87 $4,905,000 $56,379 $0 0.00%
    $100k-200k 64 $9,080,000 $141,875 $0 0.00%
    $200k-400k 19 $4,635,000 $243,947 $0 0.00%
    $1MM+ 2 $38,160,000 $19,080,000 $0 0.00%
    $400k-600k 2 $1,000,000 $500,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2021 saw Green Belt Bank & Trust place emphasis on $100,000 or less loans with 87 originations, totaling $4,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 40 $2,710,000 $67,750 $0 0.00%
    $50k-75k 38 $4,130,000 $108,684 $0 0.00%
    $100k-150k 32 $5,460,000 $170,625 $0 0.00%
    $75k-100k 23 $2,695,000 $117,174 $0 0.00%
    $150k-250k 12 $2,720,000 $226,667 $0 0.00%
    $250k+ 3 $575,000 $191,667 $0 0.00%

    Green Belt Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 40 originations. The second most popular income band? $50k-75k, with 38 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 175 $58,385,000 $333,629 $0 0.00%

    Green Belt Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 175 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 17 $39,315,000 $2,312,647 $0 0.00%
    White 148 $17,700,000 $119,595 $0 0.00%
    Not provided 10 $1,370,000 $137,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.08%

    Green Belt Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.14%

    Green Belt Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 175 $58,385,000 $333,629

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    175 $58,385,000 $333,629

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Green Belt Bank & Trust 1121 Fremont Street Iowa Falls, IA 50126 Limited, Mobile/Seasonal Office $0
    Green Belt Bank & Trust 120 East Main Street Belmond, IA 50421 Full Service B&M $51,599
    Green Belt Bank & Trust 1509 Edgington Avenue Eldora, IA 50627 Full Service B&M $29,089
    Green Belt Bank & Trust 419 Sherman Avenue Ackley, IA 50601 Full Service B&M $35,103
    Green Belt Bank & Trust 502 Butler St Ackley, IA 50601 Limited, Mobile/Seasonal Office $0
    Green Belt Bank & Trust 508 G Avenue Grundy Center, IA 50638 Full Service B&M $44,272
    Green Belt Bank & Trust 615 Estes Street Iowa Falls, IA 50126 Limited, Drive-thru $0
    Green Belt Bank & Trust 616 Washington Avenue Iowa Falls, IA 50126 Full Service B&M $386,974

    For 2021, Green Belt Bank & Trust had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,009
    Net interest income $18,960
    Total noninterest income $3,366
    Gross Fiduciary activities income $39
    Service charges on deposit accounts $682
    Trading account gains and fees $0
    Additional Noninterest Income $2,645
    Pre-tax net operating income $9,881
    Securities gains (or losses, -) $25
    Income before extraordinary items $9,460
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,460
    Minority interest net income $0
    Net income $9,460
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,436

    Green Belt Bank & Trust's gross interest income from loans was $22,009,000.
    Green Belt Bank & Trust's net interest income from loans was $18,960,000.
    Green Belt Bank & Trust's fee based income from loans was $682,000.
    Green Belt Bank & Trust's net income from loans was $9,460,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,049
    Provision for credit losses $1,005
    Total noninterest expense $11,440
    Salaries and employee benefits $6,613
    Premises and equipment expense $728
    Additional noninterest expense $4,099
    Applicable income taxes $446
    Net charge-offs $349
    Cash dividends $4,639

    Green Belt Bank & Trust's interest expense for loans was $3,049,000.
    Green Belt Bank & Trust's payroll and benefits expense were $6,613,000.
    Green Belt Bank & Trust's property, plant and equipment expenses $728,000.

    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 0.0%
    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 $527,440
    Deposits held in domestic offices $527,440
    Deposits by Individuals, partnerships, and corporations $468,236
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $56,267
    Deposits by Commercial banks and other depository institutions in U.S. $2,937
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $170,614
    Demand deposits $67,509
    Nontransaction accounts $356,826
    Money market deposit accounts (MMDAs) $200,324
    Other savings deposits (excluding MMDAs) $45,278
    Total time deposits $111,225
    Total time and savings deposits $459,931
    Noninterest-bearing deposits $67,510
    Interest-bearing deposits $459,930
    Retail deposits $495,227
    IRAs and Keogh plan accounts $10,229
    Brokered deposits $4,647
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $590,985
    Cash & Balances due from depository institutions $13,869
    Interest-bearing balances $7,115
    Total securities $81,469
    Federal funds sold & reverse repurchase $4,562
    Net loans and leases $469,249
    Loan and leases loss allowance $6,799
    Trading account assets $0
    Bank premises and fixed assets $4,108
    Other real estate owned $18
    Goodwill and other intangibles $3,077
    All other assets $14,633

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $590,985
    Total Liabilities $536,099
    Total deposits $527,440
    Interest-bearing deposits $459,930
    Deposits held in domestic offices $527,440
    % insured (estimated) $64
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $7,700
    Subordinated debt $0
    All other liabilities $959

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $469,249
    Loan and leases loss allowance $6,799
    Total loans and leases (domestic) $476,048
    All real estate loans $326,271
    Real estate loans in domestic offices $326,271
    Construction and development loans $13,061
    Residential 1-4 family construction $994
    Other construction, all land development and other land $12,067
    Loans secured by nonfarm nonresidential properties $104,255
    Nonfarm nonresidential secured by owner-occupied properties $23,519
    Commercial real estate & other non-farm, non-residential $80,736
    Multifamily residential real estate $12,483
    1-4 family residential loans $35,528
    Farmland loans $160,944
    Loans held in foreign offices $0
    Farm loans $98,655
    Commercial and industrial loans $37,993
    To non-U.S. addressees $0
    Loans to individuals $7,343
    Credit card loans $53
    Related Plans $15
    Consumer Auto Loans $4,657
    Other loans to individuals $2,618
    All other loans & leases $5,785
    Loans to foreign governments and official institutions $0
    Other loans $42
    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 $1,977
    Non 1-4 family restructured loans & leases $1,818
    Total loans and leases (foreign) $0

    Green Belt Bank & Trust had $469,249,000 of loans outstanding in 2021. $326,271,000 of loans were in real estate loans. $13,061,000 of loans were in development loans. $12,483,000 of loans were in multifamily mortgage loans. $35,528,000 of loans were in 1-4 family mortgage loans. $98,655,000 of loans were in farm loans. $53,000 of loans were in credit card loans. $4,657,000 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 153 $26,031 $170,137
    Nonfarm, nonresidential loans - <$100k 67 $3,073 $45,866
    Nonfarm, nonresidential loans - $100-250k 45 $5,075 $112,778
    Nonfarm, nonresidential loans - $250k-1MM 41 $17,883 $436,171
    Commercial & Industrial, US addressed loans - <$1MM 555 $26,410 $47,586
    Commercial & Industrial, US addressed loans - <$100k 430 $9,176 $21,340
    Commercial & Industrial, US addressed loans - $100-250k 82 $7,717 $94,110
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $9,517 $221,326
    Farmland loans - <$1MM 279 $36,769 $131,789
    Farmland loans - <$100k 74 $2,465 $33,311
    Farmland loans - $100-250k 116 $12,852 $110,793
    Farmland loans - $250k-1MM 89 $21,452 $241,034
    Agriculture operations loans - <$1MM 737 $47,741 $64,777
    Agriculture operations loans - <$100k 491 $13,529 $27,554
    Agriculture operations loans - $100-250k 151 $14,303 $94,722
    Agriculture operations loans - $250k-1MM 95 $19,909 $209,568