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 and Refi 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, Grand Island, North Platte, Hastings, and Lincoln among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Equitable Bank 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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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
354Origination Dollar Volume (All Markets)
$75,400,000Employee count
79Top 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 |
|---|---|---|---|---|---|
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 111 | $33,395,000 | $300,856 | $0 | 0.00% |
| GRAND ISLAND, NE (FHA|USDA|VA) | 132 | $25,460,000 | $192,879 | $0 | 0.00% |
| North Platte, NE (FHA|USDA|VA) | 53 | $6,365,000 | $120,094 | $0 | 0.00% |
| Outside of Metro Areas | 21 | $2,805,000 | $133,571 | $0 | 0.00% |
| Hastings, NE (FHA|USDA|VA) | 10 | $2,300,000 | $230,000 | $0 | 0.00% |
| LINCOLN, NE (FHA|USDA|VA) | 11 | $2,035,000 | $185,000 | $0 | 0.00% |
| Kearney, NE (FHA|USDA|VA) | 7 | $1,355,000 | $193,571 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 0.00% |
| Norfolk, NE (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 0.00% |
| Lexington, NE (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 0.00% |
| Bozeman, MT (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 0.00% |
| GRAND JUNCTION, CO (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $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
For 2019, Equitable Bank's most frequently originated type of loan was Conventional, with 344 originations. Their 2nd most popular type was FHA, with 5 originations.
Loan Reason
For 2019, Equitable Bank's most frequently cited loan purpose was Home Purchase, with 184 originations. The 2nd most popular reason was Refi, with 108 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 354 | $75,400,000 | $212,994 | $0 | 0.00% |
For 2019, Equitable Bank's most frequently cited loan duration was Other, with 354 originations.
Loan Sizing
2019 saw Equitable Bank place emphasis on $100k-200k loans with 124 originations, totaling $18,550,000 in origination value.
Applicant Income
Equitable Bank lent most frequently to those with incomes in the $100k-150k range, with 78 originations. The second most popular income band? $50k or less, with 62 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 354 | $75,400,000 | $212,994 | $0 | 0.00% |
Equitable Bank lent most frequently to those with DTI ratios of Exempt%, with 354 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.69%
Equitable Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.14%
Equitable Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 354 | $75,400,000 | $212,994 |
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 | $54,921 |
| Equitable Bank | 113 N Locust St Grand Island, NE 68801 | Full Service B&M | $84,452 |
| Equitable Bank | 113 N Locust Street Grand Island, NE 68801 | Limited, Drive-thru | $0 |
| Equitable Bank | 619 North Diers Avenue Grand Island, NE 68803 | Full Service B&M | $78,588 |
| Equitable Bank | 920 South Jeffers North Platte, NE 69101 | Full Service B&M | $69,503 |
For 2019, Equitable Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $15,041 |
| Net interest income | $11,058 |
| Total noninterest income | $4,673 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $186 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,487 |
| Pre-tax net operating income | $3,246 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $2,471 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,471 |
| Minority interest net income | $0 |
| Net income | $2,471 |
| Sale, conversion, retirement of capital stock, net | $175 |
| Net operating income | $2,471 |
Equitable Bank's gross interest income from loans was $15,041,000.
Equitable Bank's net interest income from loans was $11,058,000.
Equitable Bank's fee based income from loans was $186,000.
Equitable Bank's net income from loans was $2,471,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,983 |
| Provision for credit losses | $538 |
| Total noninterest expense | $11,947 |
| Salaries and employee benefits | $6,534 |
| Premises and equipment expense | $1,115 |
| Additional noninterest expense | $4,298 |
| Applicable income taxes | $775 |
| Net charge-offs | $34 |
| Cash dividends | $0 |
Equitable Bank's interest expense for loans was $3,983,000.
Equitable Bank's payroll and benefits expense were $6,534,000.
Equitable Bank's property, plant and equipment expenses $1,115,000.
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 | 1.0% |
| 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 | $295,400 |
| Deposits held in domestic offices | $295,400 |
| Deposits by Individuals, partnerships, and corporations | $283,246 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $10,911 |
| Deposits by Commercial banks and other depository institutions in U.S. | $1,243 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $100,753 |
| Demand deposits | $58,175 |
| Nontransaction accounts | $194,647 |
| Money market deposit accounts (MMDAs) | $83,829 |
| Other savings deposits (excluding MMDAs) | $19,306 |
| Total time deposits | $91,512 |
| Total time and savings deposits | $237,225 |
| Noninterest-bearing deposits | $33,194 |
| Interest-bearing deposits | $262,206 |
| Retail deposits | $270,705 |
| IRAs and Keogh plan accounts | $9,949 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $356,893 |
| Cash & Balances due from depository institutions | $7,426 |
| Interest-bearing balances | $2,472 |
| Total securities | $18,734 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $312,829 |
| Loan and leases loss allowance | $4,632 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,590 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $3,064 |
| All other assets | $8,250 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $356,893 |
| Total Liabilities | $322,574 |
| Total deposits | $295,400 |
| Interest-bearing deposits | $262,206 |
| Deposits held in domestic offices | $295,400 |
| % insured (estimated) | $79 |
| Federal funds purchased and repurchase agreements | $1,928 |
| Trading liabilities | $0 |
| Other borrowed funds | $21,143 |
| Subordinated debt | $0 |
| All other liabilities | $4,103 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $312,829 |
| Loan and leases loss allowance | $4,632 |
| Total loans and leases (domestic) | $317,461 |
| All real estate loans | $222,419 |
| Real estate loans in domestic offices | $222,419 |
| Construction and development loans | $11,558 |
| Residential 1-4 family construction | $5,327 |
| Other construction, all land development and other land | $6,231 |
| Loans secured by nonfarm nonresidential properties | $81,469 |
| Nonfarm nonresidential secured by owner-occupied properties | $39,431 |
| Commercial real estate & other non-farm, non-residential | $42,038 |
| Multifamily residential real estate | $20,857 |
| 1-4 family residential loans | $75,291 |
| Farmland loans | $33,244 |
| Loans held in foreign offices | $0 |
| Farm loans | $45,072 |
| Commercial and industrial loans | $44,808 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $5,162 |
| Credit card loans | $226 |
| Related Plans | $90 |
| Consumer Auto Loans | $2,972 |
| Other loans to individuals | $1,874 |
| All other loans & leases | $0 |
| 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 | $1,329 |
| Non 1-4 family restructured loans & leases | $151 |
| Total loans and leases (foreign) | $0 |
Equitable Bank had $312,829,000 of loans outstanding in 2019. $222,419,000 of loans were in real estate loans. $11,558,000 of loans were in development loans. $20,857,000 of loans were in multifamily mortgage loans. $75,291,000 of loans were in 1-4 family mortgage loans. $45,072,000 of loans were in farm loans. $226,000 of loans were in credit card loans. $2,972,000 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 | 116 | $29,531 | $254,578 |
| Nonfarm, nonresidential loans - <$100k | 20 | $917 | $45,850 |
| Nonfarm, nonresidential loans - $100-250k | 40 | $5,255 | $131,375 |
| Nonfarm, nonresidential loans - $250k-1MM | 56 | $23,359 | $417,125 |
| Commercial & Industrial, US addressed loans - <$1MM | 287 | $25,631 | $89,307 |
| Commercial & Industrial, US addressed loans - <$100k | 177 | $3,971 | $22,435 |
| Commercial & Industrial, US addressed loans - $100-250k | 63 | $7,512 | $119,238 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 47 | $14,148 | $301,021 |
| Farmland loans - <$1MM | 65 | $8,680 | $133,538 |
| Farmland loans - <$100k | 19 | $741 | $39,000 |
| Farmland loans - $100-250k | 32 | $4,040 | $126,250 |
| Farmland loans - $250k-1MM | 14 | $3,899 | $278,500 |
| Agriculture operations loans - <$1MM | 179 | $12,419 | $69,380 |
| Agriculture operations loans - <$100k | 110 | $2,320 | $21,091 |
| Agriculture operations loans - $100-250k | 41 | $4,740 | $115,610 |
| Agriculture operations loans - $250k-1MM | 28 | $5,359 | $191,393 |