Equitable Bank Mortgage Rates, Fees & Info
Grand Island, NELEI: 549300K5SWOZ1F2OHY48
Tax ID: 47-0151910
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Mortgage Data
Bank Data
Review & Overview
Equitable Bank is a smaller bank specializing in Home Purchase loans. Equitable Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Grand Island, Omaha, North Platte, Kearney, and Kansas City among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Equitable Bank 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 4/18/24 |
| 30 Year Conventional Refi | 6.50% | 4/18/24 |
| 30 Year Cash-out Refi | 6.65% | 4/18/24 |
| 30 Year FHA Purchase | 7.57% | 4/18/24 |
| 15 Year Conventional Purchase | 6.09% | 4/18/24 |
| 15 Year Conventional Refi | 6.28% | 4/18/24 |
| 15 Year Cash-out Refi | 6.28% | 4/18/24 |
| 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. | ||
Equitable Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
305Origination Dollar Volume (All Markets)
$47,375,000Employee count
77Top 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 |
|---|---|---|---|---|---|
| GRAND ISLAND, NE (FHA|USDA|VA) | 134 | $16,520,000 | $123,284 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 73 | $14,405,000 | $197,329 | $0 | 0.00% |
| North Platte, NE (FHA|USDA|VA) | 54 | $6,870,000 | $127,222 | $0 | 0.00% |
| Kearney, NE (FHA|USDA|VA) | 10 | $2,310,000 | $231,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $1,990,000 | $995,000 | $0 | 0.00% |
| LINCOLN, NE (FHA|USDA|VA) | 12 | $1,830,000 | $152,500 | $0 | 0.00% |
| Outside of Metro Areas | 11 | $1,475,000 | $134,091 | $0 | 0.00% |
| Hastings, NE (FHA|USDA|VA) | 5 | $915,000 | $183,000 | $0 | 0.00% |
| Scottsbluff, NE (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| ENID, OK (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Equitable Bank 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 | 298 | $46,030,000 | $154,463 | $0 | 0.00% |
| VA | 4 | $940,000 | $235,000 | $0 | 0.00% |
| FHA | 3 | $405,000 | $135,000 | $0 | 0.00% |
For 2018, Equitable Bank's most frequently originated type of loan was Conventional, with 298 originations. Their 2nd most popular type was VA, with 4 originations.
Loan Reason
For 2018, Equitable Bank's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Refi, with 80 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 305 | $47,375,000 | $155,328 | $0 | 0.00% |
For 2018, Equitable Bank's most frequently cited loan duration was Other, with 305 originations.
Loan Sizing
2018 saw Equitable Bank place emphasis on $100,000 or less loans with 130 originations, totaling $7,360,000 in origination value.
Applicant Income
Equitable Bank lent most frequently to those with incomes in the $50k or less range, with 62 originations. The second most popular income band? $75k-100k, with 48 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 305 | $47,375,000 | $155,328 | $0 | 0.00% |
Equitable Bank lent most frequently to those with DTI ratios of Exempt%, with 305 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.89%
Equitable Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.84%
Equitable Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 305 | $47,375,000 | $155,328 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Equitable Bank | 10855 W Dodge Rd Omaha, NE 68154 | Full Service B&M | $50,257 |
| Equitable Bank | 113 N Locust St Grand Island, NE 68801 | Full Service B&M | $47,668 |
| Equitable Bank | 113 N Locust Street Grand Island, NE 68801 | Limited, Drive-thru | $0 |
| Equitable Bank | 3012 South Locust Street Grand Island, NE 68801 | Limited, Drive-thru | $0 |
| Equitable Bank | 619 North Diers Avenue Grand Island, NE 68803 | Full Service B&M | $79,476 |
| Equitable Bank | 920 South Jeffers North Platte, NE 69101 | Full Service B&M | $65,031 |
For 2018, Equitable Bank had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $12,416 |
| Net interest income | $10,060 |
| Total noninterest income | $2,702 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $282 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,420 |
| Pre-tax net operating income | $3,349 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $2,398 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,398 |
| Minority interest net income | $0 |
| Net income | $2,398 |
| Sale, conversion, retirement of capital stock, net | $247 |
| Net operating income | $2,398 |
Equitable Bank's gross interest income from loans was $12,416,000.
Equitable Bank's net interest income from loans was $10,060,000.
Equitable Bank's fee based income from loans was $282,000.
Equitable Bank's net income from loans was $2,398,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,356 |
| Provision for credit losses | $27 |
| Total noninterest expense | $9,386 |
| Salaries and employee benefits | $5,498 |
| Premises and equipment expense | $1,087 |
| Additional noninterest expense | $2,801 |
| Applicable income taxes | $951 |
| Net charge-offs | $361 |
| Cash dividends | $0 |
Equitable Bank's interest expense for loans was $2,356,000.
Equitable Bank's payroll and benefits expense were $5,498,000.
Equitable Bank's property, plant and equipment expenses $1,087,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 0.0% |
| All other family | 3.0% |
| Commercial & industrial loans | 1.0% |
| 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 | $251,485 |
| Deposits held in domestic offices | $251,485 |
| Deposits by Individuals, partnerships, and corporations | $242,067 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $7,942 |
| Deposits by Commercial banks and other depository institutions in U.S. | $1,476 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $97,589 |
| Demand deposits | $59,545 |
| Nontransaction accounts | $153,896 |
| Money market deposit accounts (MMDAs) | $70,028 |
| Other savings deposits (excluding MMDAs) | $21,099 |
| Total time deposits | $62,769 |
| Total time and savings deposits | $191,940 |
| Noninterest-bearing deposits | $37,108 |
| Interest-bearing deposits | $214,377 |
| Retail deposits | $243,459 |
| IRAs and Keogh plan accounts | $9,836 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $292,321 |
| Cash & Balances due from depository institutions | $4,945 |
| Interest-bearing balances | $877 |
| Total securities | $1,528 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $271,775 |
| Loan and leases loss allowance | $4,128 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,706 |
| Other real estate owned | $223 |
| Goodwill and other intangibles | $2,972 |
| All other assets | $4,172 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $292,321 |
| Total Liabilities | $260,676 |
| Total deposits | $251,485 |
| Interest-bearing deposits | $214,377 |
| Deposits held in domestic offices | $251,485 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $4,022 |
| Trading liabilities | $0 |
| Other borrowed funds | $981 |
| Subordinated debt | $0 |
| All other liabilities | $4,188 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $271,775 |
| Loan and leases loss allowance | $4,128 |
| Total loans and leases (domestic) | $275,903 |
| All real estate loans | $218,716 |
| Real estate loans in domestic offices | $218,716 |
| Construction and development loans | $18,579 |
| Residential 1-4 family construction | $8,053 |
| Other construction, all land development and other land | $10,526 |
| Loans secured by nonfarm nonresidential properties | $80,214 |
| Nonfarm nonresidential secured by owner-occupied properties | $39,595 |
| Commercial real estate & other non-farm, non-residential | $40,619 |
| Multifamily residential real estate | $19,215 |
| 1-4 family residential loans | $64,482 |
| Farmland loans | $36,226 |
| Loans held in foreign offices | $0 |
| Farm loans | $28,525 |
| Commercial and industrial loans | $24,601 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,951 |
| Credit card loans | $235 |
| Related Plans | $103 |
| Consumer Auto Loans | $2,876 |
| Other loans to individuals | $737 |
| All other loans & leases | $110 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| 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 | $1,079 |
| Non 1-4 family restructured loans & leases | $898 |
| Total loans and leases (foreign) | $0 |
Equitable Bank had $271,775,000 of loans outstanding in 2018. $218,716,000 of loans were in real estate loans. $18,579,000 of loans were in development loans. $19,215,000 of loans were in multifamily mortgage loans. $64,482,000 of loans were in 1-4 family mortgage loans. $28,525,000 of loans were in farm loans. $235,000 of loans were in credit card loans. $2,876,000 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 | 145 | $34,532 | $238,152 |
| Nonfarm, nonresidential loans - <$100k | 32 | $1,432 | $44,750 |
| Nonfarm, nonresidential loans - $100-250k | 47 | $6,244 | $132,851 |
| Nonfarm, nonresidential loans - $250k-1MM | 66 | $26,856 | $406,909 |
| Commercial & Industrial, US addressed loans - <$1MM | 372 | $22,536 | $60,581 |
| Commercial & Industrial, US addressed loans - <$100k | 283 | $6,067 | $21,438 |
| Commercial & Industrial, US addressed loans - $100-250k | 51 | $5,467 | $107,196 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 38 | $11,002 | $289,526 |
| Farmland loans - <$1MM | 113 | $13,435 | $118,894 |
| Farmland loans - <$100k | 47 | $1,972 | $41,957 |
| Farmland loans - $100-250k | 50 | $6,588 | $131,760 |
| Farmland loans - $250k-1MM | 16 | $4,875 | $304,688 |
| Agriculture operations loans - <$1MM | 190 | $15,559 | $81,889 |
| Agriculture operations loans - <$100k | 123 | $4,016 | $32,650 |
| Agriculture operations loans - $100-250k | 44 | $5,766 | $131,045 |
| Agriculture operations loans - $250k-1MM | 23 | $5,777 | $251,174 |