Equitable Bank Mortgage Rates, Fees & Info

Grand Island, NE

LEI: 549300K5SWOZ1F2OHY48

Tax ID: 47-0151910

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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.

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
30 Year Conventional Purchase 6.64% 12/16/24
30 Year Conventional Refi 6.50% 12/16/24
30 Year Cash-out Refi 6.65% 12/16/24
30 Year FHA Purchase 7.57% 12/16/24
15 Year Conventional Purchase 6.09% 12/16/24
15 Year Conventional Refi 6.28% 12/16/24
15 Year Cash-out Refi 6.28% 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.

Equitable Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Equitable Bank. 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

305

Origination Dollar Volume (All Markets)

$47,375,000

Employee count

77

Top Markets

Hover a geography to see attributes.
  • >$0
  • $10mm
  • $25mm
  • $100mm
  • $250mm
  • $500mm
  • Leaflet | Map data © OpenStreetMap contributors| Map style: © OpenTopoMap (CC-BY-SA)

    Click or Hover to activate map

    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%
    Equitable Bank's top markets include Grand Island, Omaha, North Platte, Kearney, and Kansas City among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • 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.

    LIBERTY FIRST
    Similarity Rank: 153
    Adams Bank & Trust
    Similarity Rank: 154
    CHARTER WEST BANK
    Similarity Rank: 246
    Washington County Bank
    Similarity Rank: 255
    Central National Bank
    Similarity Rank: 290
    MUTUAL FIRST
    Similarity Rank: 297
    Lincoln FSB of Nebraska
    Similarity Rank: 304
    First State Bank
    Similarity Rank: 312
    CORNHUSKER BANK
    Similarity Rank: 392

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 180 $34,860,000 $193,667 $0 0.00%
    Refi 80 $8,630,000 $107,875 $0 0.00%
    Cash Out Refi 18 $2,710,000 $150,556 $0 0.00%
    Other 16 $640,000 $40,000 $0 0.00%
    Home Improvement 11 $535,000 $48,636 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 130 $7,360,000 $56,615 $0 0.00%
    $100k-200k 91 $12,595,000 $138,407 $0 0.00%
    $200k-400k 67 $16,985,000 $253,507 $0 0.00%
    $400k-600k 13 $6,125,000 $471,154 $0 0.00%
    $1MM+ 2 $2,900,000 $1,450,000 $0 0.00%
    $600k-1MM 2 $1,410,000 $705,000 $0 0.00%

    2018 saw Equitable Bank place emphasis on $100,000 or less loans with 130 originations, totaling $7,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 62 $5,560,000 $89,677 $0 0.00%
    $75k-100k 48 $8,380,000 $174,583 $0 0.00%
    $50k-75k 39 $4,445,000 $113,974 $0 0.00%
    $100k-150k 34 $6,270,000 $184,412 $0 0.00%
    $150k-250k 20 $4,580,000 $229,000 $0 0.00%
    $250k+ 11 $4,275,000 $388,636 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 217 $33,585,000 $154,770 $0 0.00%
    Not applicable 77 $11,875,000 $154,221 $0 0.00%
    Not provided 4 $610,000 $152,500 $0 0.00%
    Black 2 $480,000 $240,000 $0 0.00%
    Asian 2 $290,000 $145,000 $0 0.00%
    Other Asian 1 $285,000 $285,000 $0 0.00%
    American Indian 2 $250,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.89%

    Equitable Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.84%

    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

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $215,000 $215,000
    Multifamily:Site-Built 32 $5,870,000 $183,438
    Single Family (1-4 Units):Manufactured 3 $185,000 $61,667
    Single Family (1-4 Units):Site-Built 269 $41,105,000 $152,807

    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