Reliabank Dakota Mortgage Rates, Fees & Info

Estelline, SD

LEI: 549300KCR7QWQQCWBG94

Tax ID: 46-0133683

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

Review & Overview

Reliabank Dakota is a smaller bank specializing in Home Purchase and Refi loans. Reliabank Dakota has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Sioux Falls, Watertown, Jacksonville, Yankton, and Bozeman among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Reliabank Dakota 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. Reliabank Dakota 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%	4/18/24
30 Year Conventional Purchase	6.60%	4/18/24
30 Year Conventional Refi	6.50%	4/18/24
30 Year Cash-out Refi	6.70%	4/18/24
30 Year FHA Purchase	7.40%	4/18/24
30 Year FHA Refi	6.46%	4/18/24
30 Year VA Purchase	6.33%	4/18/24
30 Year USDA Purchase	6.61%	4/18/24
15 Year Conventional Purchase	6.21%	4/18/24
15 Year Conventional Refi	5.77%	4/18/24
15 Year Cash-out Refi	5.77%	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.

Reliabank Dakota Mortgage Calculator

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This is not an official calculator from Reliabank Dakota. 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

575

Origination Dollar Volume (All Markets)

$115,065,000

Employee count

Awards

Show all (1) 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
SIOUX FALLS, SD (FHA\|USDA\|VA)	397	$84,155,000	$211,977	$4,421	4.26%
Outside of Metro Areas	76	$11,510,000	$151,447	$4,513	4.25%
Watertown, SD (FHA\|USDA\|VA)	67	$10,925,000	$163,060	$4,049	4.46%
JACKSONVILLE, FL (FHA\|USDA\|VA)	1	$1,325,000	$1,325,000	$0	4.55%
Yankton, SD (FHA\|USDA\|VA)	5	$995,000	$199,000	$7,532	3.93%
Bozeman, MT (FHA\|USDA\|VA)	2	$880,000	$440,000	$7,332	4.13%
Spirit Lake, IA (FHA\|USDA\|VA)	3	$795,000	$265,000	$4,700	4.21%
Worthington, MN (FHA\|USDA\|VA)	4	$700,000	$175,000	$5,093	4.19%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA\|USDA\|VA)	2	$700,000	$350,000	$6,596	4.13%
Spearfish, SD (FHA\|USDA\|VA)	3	$555,000	$185,000	$4,151	3.79%
Brookings, SD (FHA\|USDA\|VA)	4	$540,000	$135,000	$4,512	4.25%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	1	$345,000	$345,000	$7,963	3.63%
Brainerd, MN (FHA\|USDA\|VA)	1	$295,000	$295,000	$6,126	3.38%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$285,000	$285,000	$5,667	3.00%
Mitchell, SD (FHA\|USDA\|VA)	2	$250,000	$125,000	$4,471	4.44%
Williston, ND (FHA\|USDA\|VA)	1	$245,000	$245,000	$9,569	4.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	1	$195,000	$195,000	$953	3.63%
SIOUX CITY, IA-NE-SD (FHA\|USDA\|VA)	1	$135,000	$135,000	$4,714	4.50%
Pierre, SD (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	4.00%
RAPID CITY, SD (FHA\|USDA\|VA)	1	$75,000	$75,000	$2,636	3.38%
Huron, SD (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	6.35%

Reliabank Dakota's top markets include Sioux Falls, Watertown, Jacksonville, Yankton, and Bozeman among others.

Their top states include:

South Dakota (FHA|USDA|VA)

Minnesota (FHA|USDA|VA)

Iowa (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Montana (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Reliabank Dakota based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

SIOUX FALLS
Similarity Rank: 333

First Bank & Trust
Similarity Rank: 375

Dacotah Bank
Similarity Rank: 575

First Dakota National Bank
Similarity Rank: 576

BLACK HILLS FEDERAL CREDIT UNION
Similarity Rank: 616

CU MORTGAGE DIRECT, LLC
Similarity Rank: 648

IOWA BANKERS MORTGAGE CORPORATION
Similarity Rank: 960

CORTRUST MORTGAGE, INC.
Similarity Rank: 1196

First PREMIER Bank
Similarity Rank: 1260

Reliabank Dakota
Similarity Rank: 1701

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	408	$85,480,000	$209,510	$3,884	4.40%
FHA	91	$15,865,000	$174,341	$6,351	4.06%
USDA	41	$5,705,000	$139,146	$4,854	3.87%
VA	35	$8,015,000	$229,000	$4,680	3.75%

For 2019, Reliabank Dakota's most frequently originated type of loan was Conventional, with 408 originations. Their 2nd most popular type was FHA, with 91 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	374	$73,310,000	$196,016	$4,845	4.33%
Refi	153	$33,505,000	$218,987	$3,865	4.05%
Cash Out Refi	41	$7,905,000	$192,805	$3,855	4.13%
Home Improvement	4	$200,000	$50,000	$1,290	6.70%
Other	3	$145,000	$48,333	$366	6.47%

For 2019, Reliabank Dakota's most frequently cited loan purpose was Home Purchase, with 374 originations. The 2nd most popular reason was Refi, with 153 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	424	$87,660,000	$206,745	$4,694	4.06%
15 Year	56	$10,310,000	$184,107	$3,976	3.66%
5 Year	32	$7,640,000	$238,750	$3,618	5.64%
Other	23	$3,835,000	$166,739	$2,270	5.41%
1 Year	20	$2,310,000	$115,500	$0	6.70%
10 Year	11	$2,245,000	$204,091	$1,609	4.23%
20 Year	7	$1,005,000	$143,571	$3,617	4.32%
3 Year	2	$60,000	$30,000	$0	7.46%

For 2019, Reliabank Dakota's most frequently cited loan duration was 30 Year, with 424 originations. The 2nd most popular length was 15 Year, with 56 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$2k-3k	158	$29,030,000	$183,734
$<1k	130	$26,790,000	$206,077
$1k-2k	99	$12,615,000	$127,424
$3k-4k	77	$19,935,000	$258,896
$4k-5k	26	$9,170,000	$352,692
$5k+	11	$4,845,000	$440,455

Reliabank Dakota's average total fees were $4,694, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 158 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	289	$61,575,000	$213,062
4-5%	194	$37,700,000	$194,330
5-6%	51	$10,225,000	$200,490
6-7%	31	$3,665,000	$118,226
2.5-3%	8	$1,880,000	$235,000
7-8%	2	$20,000	$10,000

During 2019, Reliabank Dakota's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 3-4%, with 289 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	257	$39,125,000	$152,237	$4,298	4.25%
$200k-400k	203	$54,425,000	$268,103	$4,958	4.04%
$100,000 or less	89	$6,155,000	$69,157	$2,905	4.90%
$400k-600k	23	$10,455,000	$454,565	$5,744	3.91%
$1MM+	2	$4,170,000	$2,085,000	$0	5.03%
$600k-1MM	1	$735,000	$735,000	$0	6.27%

2019 saw Reliabank Dakota place emphasis on $100k-200k loans with 257 originations, totaling $39,125,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	133	$22,615,000	$170,038	$4,498	4.17%
$50k or less	116	$14,880,000	$128,276	$4,215	4.13%
$100k-150k	93	$23,555,000	$253,280	$4,705	3.99%
$75k-100k	90	$19,210,000	$213,444	$5,029	4.11%
$150k-250k	51	$14,355,000	$281,471	$4,563	4.28%
$250k+	27	$7,145,000	$264,630	$3,512	5.58%

Reliabank Dakota lent most frequently to those with incomes in the $50k-75k range, with 133 originations. The second most popular income band? $50k or less, with 116 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	129	$25,625,000	$198,643	$4,210	3.99%
30-36%	92	$19,830,000	$215,543	$4,208	4.23%
<20%	27	$4,915,000	$182,037	$3,623	3.96%
44%	25	$5,875,000	$235,000	$4,615	4.07%
36%	25	$5,485,000	$219,400	$4,746	4.07%
50-60%	23	$4,635,000	$201,522	$7,134	4.06%
42%	21	$4,075,000	$194,048	$4,269	3.88%
37%	21	$4,065,000	$193,571	$4,714	3.94%
39%	16	$3,940,000	$246,250	$5,181	3.99%
47%	14	$2,520,000	$180,000	$4,688	4.06%
41%	14	$2,240,000	$160,000	$4,203	4.16%
49%	13	$2,665,000	$205,000	$5,029	4.11%
48%	12	$2,850,000	$237,500	$5,157	4.03%
40%	12	$2,400,000	$200,000	$4,781	4.28%
38%	11	$1,785,000	$162,273	$5,250	4.25%
43%	11	$1,935,000	$175,909	$4,765	4.01%
45%	9	$1,355,000	$150,556	$4,773	4.61%
46%	6	$990,000	$165,000	$4,989	4.00%
>60%	2	$450,000	$225,000	$1,058	6.00%

Reliabank Dakota lent most frequently to those with DTI ratios of 20-30%, with 129 originations. The next most common DTI ratio? 30-36%, with 92 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	473	$92,925,000	$196,459	$4,385	4.22%
Not provided	61	$13,215,000	$216,639	$5,095	4.08%
Not applicable	23	$5,725,000	$248,913	$0	5.82%
Black	11	$2,145,000	$195,000	$4,498	4.08%
American Indian	5	$655,000	$131,000	$3,607	4.52%
Asian	2	$400,000	$200,000	$4,989	4.25%

Approval Rates

Total approvals of all applications
96.14%

Reliabank Dakota has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
78.61%

Reliabank Dakota has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
130.0	1	$45,000	$45,000
268.75	1	$15,000	$15,000
509.0	1	$65,000	$65,000
NA	572	$114,940,000	$200,944

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	6	$4,200,000	$700,000
Single Family (1-4 Units):Manufactured	4	$180,000	$45,000
Single Family (1-4 Units):Site-Built	565	$110,685,000	$195,903

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	16	$1,900,000	$118,750	$2,478	5.21%
40-60%	41	$7,985,000	$194,756	$3,636	4.24%
60-80%	160	$34,610,000	$216,313	$3,932	4.38%
80-100%	345	$69,405,000	$201,174	$4,798	4.14%
Over 100%	5	$865,000	$173,000	$7,273	4.43%
Under 20%	5	$165,000	$33,000	$2,060	6.05%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Reliabank Dakota	720 Kevin Drive Tea, SD 57064	Full Service B&M	$38,894
Reliabank Dakota	1003 West 2nd Avenue Humboldt, SD 57035	Full Service B&M	$15,001
Reliabank Dakota	11 William Street Hazel, SD 57242	Full Service B&M	$6,938
Reliabank Dakota	117 Main Avenue Hayti, SD 57241	Full Service B&M	$27,638
Reliabank Dakota	1401 4th St Ne Watertown, SD 57201	Full Service B&M	$186,978
Reliabank Dakota	211 North Main Street Estelline, SD 57234	Full Service B&M	$52,813
Reliabank Dakota	304 West Highway 38, Suite 142 Hartford, SD 57033	Full Service B&M	$22,004
Reliabank Dakota	608 West 86th Street Sioux Falls, SD 57108	Full Service B&M	$17,338
Reliabank Dakota	830 10th Street, S.W. Watertown, SD 57201	Full Service B&M	$17,172

For 2019, Reliabank Dakota had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$21,096
Net interest income	$15,805
Total noninterest income	$4,860
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$547
Trading account gains and fees	$0
Additional Noninterest Income	$4,313
Pre-tax net operating income	$5,045
Securities gains (or losses, -)	$55
Income before extraordinary items	$4,862
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,862
Minority interest net income	$0
Net income	$4,862
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,809

Reliabank Dakota's gross interest income from loans was $21,096,000.
Reliabank Dakota's net interest income from loans was $15,805,000.
Reliabank Dakota's fee based income from loans was $547,000.
Reliabank Dakota's net income from loans was $4,862,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,291
Provision for credit losses	$1,982
Total noninterest expense	$13,638
Salaries and employee benefits	$8,428
Premises and equipment expense	$1,561
Additional noninterest expense	$3,649
Applicable income taxes	$238
Net charge-offs	$1,242
Cash dividends	$1,190

Reliabank Dakota's interest expense for loans was $5,291,000.
Reliabank Dakota's payroll and benefits expense were $8,428,000.
Reliabank Dakota's property, plant and equipment expenses $1,561,000.

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	$414,797
Deposits held in domestic offices	$414,797
Deposits by Individuals, partnerships, and corporations	$290,007
Deposits by U.S. Government	$22
Deposits by States and political subdivisions in the U.S.	$124,768
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$38,721
Demand deposits	$13,423
Nontransaction accounts	$376,076
Money market deposit accounts (MMDAs)	$36,714
Other savings deposits (excluding MMDAs)	$231,518
Total time deposits	$107,844
Total time and savings deposits	$401,374
Noninterest-bearing deposits	$38,721
Interest-bearing deposits	$376,076
Retail deposits	$384,578
IRAs and Keogh plan accounts	$8,810
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$471,230
Cash & Balances due from depository institutions	$18,393
Interest-bearing balances	$9,900
Total securities	$110,905
Federal funds sold & reverse repurchase	$0
Net loans and leases	$323,680
Loan and leases loss allowance	$3,377
Trading account assets	$6
Bank premises and fixed assets	$10,194
Other real estate owned	$39
Goodwill and other intangibles	$375
All other assets	$7,638

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$471,230
Total Liabilities	$427,907
Total deposits	$414,797
Interest-bearing deposits	$376,076
Deposits held in domestic offices	$414,797
% insured (estimated)	$62
Federal funds purchased and repurchase agreements	$500
Trading liabilities	$6
Other borrowed funds	$5,627
Subordinated debt	$0
All other liabilities	$6,977

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$323,680
Loan and leases loss allowance	$3,377
Total loans and leases (domestic)	$327,057
All real estate loans	$182,599
Real estate loans in domestic offices	$182,599
Construction and development loans	$13,725
Residential 1-4 family construction	$6,369
Other construction, all land development and other land	$7,356
Loans secured by nonfarm nonresidential properties	$72,340
Nonfarm nonresidential secured by owner-occupied properties	$39,381
Commercial real estate & other non-farm, non-residential	$32,959
Multifamily residential real estate	$7,081
1-4 family residential loans	$41,039
Farmland loans	$48,414
Loans held in foreign offices	$0
Farm loans	$69,914
Commercial and industrial loans	$66,198
To non-U.S. addressees	$0
Loans to individuals	$8,346
Credit card loans	$0
Related Plans	$227
Consumer Auto Loans	$2,871
Other loans to individuals	$5,248
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Reliabank Dakota had $323,680,000 of loans outstanding in 2019. $182,599,000 of loans were in real estate loans. $13,725,000 of loans were in development loans. $7,081,000 of loans were in multifamily mortgage loans. $41,039,000 of loans were in 1-4 family mortgage loans. $69,914,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,871,000 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	132	$31,764	$240,636
Nonfarm, nonresidential loans - <$100k	32	$1,609	$50,281
Nonfarm, nonresidential loans - $100-250k	35	$4,999	$142,829
Nonfarm, nonresidential loans - $250k-1MM	65	$25,156	$387,015
Commercial & Industrial, US addressed loans - <$1MM	314	$30,325	$96,576
Commercial & Industrial, US addressed loans - <$100k	181	$4,796	$26,497
Commercial & Industrial, US addressed loans - $100-250k	79	$7,823	$99,025
Commercial & Industrial, US addressed loans - $250k-1MM	54	$17,706	$327,889
Farmland loans - <$1MM	82	$14,150	$172,561
Farmland loans - <$100k	24	$1,244	$51,833
Farmland loans - $100-250k	27	$3,851	$142,630
Farmland loans - $250k-1MM	31	$9,055	$292,097
Agriculture operations loans - <$1MM	213	$20,421	$95,873
Agriculture operations loans - <$100k	107	$2,861	$26,738
Agriculture operations loans - $100-250k	55	$5,686	$103,382
Agriculture operations loans - $250k-1MM	51	$11,874	$232,824