Security State Bank & Trust Mortgage Rates, Fees & Info
Fredericksburg, TXLEI: 549300KLIO6FT2J64B78
Tax ID: 74-0890992
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Mortgage Data
Bank Data
Review & Overview
Security State Bank & Trust is a smaller bank specializing in NA and Home Purchase loans. Security State Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Austin, San Antonio, Kerrville, Fredericksburg, and Dallas among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Security State 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.61% | 11/21/24 |
| 30 Year Conventional Refi | 6.87% | 11/21/24 |
| 30 Year FHA Purchase | 7.52% | 11/21/24 |
| 30 Year VA Purchase | 6.52% | 11/21/24 |
| 30 Year VA Refi | 6.58% | 11/21/24 |
| 30 Year USDA Purchase | 6.31% | 11/21/24 |
| 15 Year Conventional Purchase | 8.33% | 11/21/24 |
| 15 Year Conventional Refi | 6.66% | 11/21/24 |
| 15 Year Cash-out Refi | 6.66% | 11/21/24 |
| 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. | ||
Security State Bank & Trust Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
232Origination Dollar Volume (All Markets)
$48,390,000Employee count
279Top 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 |
|---|---|---|---|---|---|
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 27 | $10,025,000 | $371,296 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 41 | $8,545,000 | $208,415 | $0 | 0.00% |
| Outside of Metro Areas | 48 | $6,960,000 | $145,000 | $0 | 0.00% |
| Kerrville, TX (FHA|USDA|VA) | 48 | $6,490,000 | $135,208 | $0 | 0.00% |
| Fredericksburg, TX (FHA|USDA|VA) | 35 | $5,765,000 | $164,714 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 21 | $4,535,000 | $215,952 | $0 | 0.00% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $3,625,000 | $3,625,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
| Key West, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| SANTA FE, NM (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Raymondville, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Security State Bank & Trust 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 | 232 | $48,390,000 | $208,578 | $0 | 0.00% |
For 2018, Security State Bank & Trust's most frequently originated type of loan was Conventional, with 232 originations.
Loan Reason
For 2018, Security State Bank & Trust's most frequently cited loan purpose was NA, with 100 originations. The 2nd most popular reason was Home Purchase, with 79 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 232 | $48,390,000 | $208,578 | $0 | 0.00% |
For 2018, Security State Bank & Trust's most frequently cited loan duration was Other, with 232 originations.
Loan Sizing
2018 saw Security State Bank & Trust place emphasis on $100,000 or less loans with 95 originations, totaling $5,545,000 in origination value.
Applicant Income
Security State Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 43 originations. The second most popular income band? $100k-150k, with 34 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 232 | $48,390,000 | $208,578 | $0 | 0.00% |
Security State Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 232 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.28%
Security State Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination79.74%
Security State Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 232 | $48,390,000 | $208,578 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Security National Financial Corp | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| Security National Financial Corp | Conventional home mortgage | Trouble during payment process | 3 | 60.0% |
| Security National Financial Corp | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Security State Bank & Trust | 1000 Hwy 281 South Blanco, TX 78606 | Full Service B&M | $32,272 |
| Security State Bank & Trust | 1111 East Main Street Fredericksburg, TX 78624 | Limited, Drive-thru | $0 |
| Security State Bank & Trust | 1130 Junction Highway Kerrville, TX 78028 | Full Service B&M | $142,588 |
| Security State Bank & Trust | 11610 Bee Caves Rd Ste 100 Bee Cave, TX 78738 | Full Service B&M | $6,254 |
| Security State Bank & Trust | 1500 Hwy 290 West Dripping Springs, TX 78620 | Full Service B&M | $15,814 |
| Security State Bank & Trust | 18125 Fm 306 Canyon Lake, TX 78133 | Full Service B&M | $27,303 |
| Security State Bank & Trust | 201 West Main Street Fredericksburg, TX 78624 | Full Service B&M | $231,953 |
| Security State Bank & Trust | 202 West San Antonio Street Fredericksburg, TX 78624 | Limited, Drive-thru | $0 |
| Security State Bank & Trust | 204 Ranch Road 2900 Kingsland, TX 78639 | Full Service B&M | $32,290 |
| Security State Bank & Trust | 212 Sidney Baker South Kerrville, TX 78028 | Limited, Drive-thru | $0 |
| Security State Bank & Trust | 23596 West Highway 290 Harper, TX 78631 | Full Service B&M | $31,021 |
| Security State Bank & Trust | 3131 Bulverde Road Bulverde, TX 78163 | Full Service B&M | $29,147 |
| Security State Bank & Trust | 3241 Junction Highway Ingram, TX 78025 | Full Service B&M | $25,272 |
| Security State Bank & Trust | 3610 Pace Bend Rd. South Spicewood, TX 78669 | Full Service B&M | $40,592 |
| Security State Bank & Trust | 501 Landa Street New Braunfels, TX 78130 | Full Service B&M | $8,125 |
| Security State Bank & Trust | 607 Main Street Boerne, TX 78006 | Full Service B&M | $39,408 |
| Security State Bank & Trust | 608 Highway 281 North Marble Falls, TX 78654 | Full Service B&M | $74,525 |
| Security State Bank & Trust | 707 Main Street Marble Falls, TX 78654 | Limited, Drive-thru | $0 |
| Security State Bank & Trust | 7626 Lohman Ford Road Lago Vista, TX 78645 | Full Service B&M | $42,239 |
| Security State Bank & Trust | 832 Front Street Comfort, TX 78013 | Full Service B&M | $29,489 |
For 2018, Security State Bank & Trust had 20 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $45,679 |
| Net interest income | $42,794 |
| Total noninterest income | $9,614 |
| Gross Fiduciary activities income | $1,031 |
| Service charges on deposit accounts | $2,078 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,505 |
| Pre-tax net operating income | $18,747 |
| Securities gains (or losses, -) | $-21 |
| Income before extraordinary items | $18,726 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $18,726 |
| Minority interest net income | $-289 |
| Net income | $19,015 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $18,747 |
Security State Bank & Trust's gross interest income from loans was $45,679,000.
Security State Bank & Trust's net interest income from loans was $42,794,000.
Security State Bank & Trust's fee based income from loans was $2,078,000.
Security State Bank & Trust's net income from loans was $19,015,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,885 |
| Provision for credit losses | $619 |
| Total noninterest expense | $33,042 |
| Salaries and employee benefits | $20,993 |
| Premises and equipment expense | $3,372 |
| Additional noninterest expense | $8,677 |
| Applicable income taxes | $0 |
| Net charge-offs | $645 |
| Cash dividends | $11,500 |
Security State Bank & Trust's interest expense for loans was $2,885,000.
Security State Bank & Trust's payroll and benefits expense were $20,993,000.
Security State Bank & Trust's property, plant and equipment expenses $3,372,000.
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 | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $856,602 |
| Deposits held in domestic offices | $856,602 |
| Deposits by Individuals, partnerships, and corporations | $759,281 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $97,321 |
| 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 | $71,679 |
| Demand deposits | $54,830 |
| Nontransaction accounts | $784,923 |
| Money market deposit accounts (MMDAs) | $562,164 |
| Other savings deposits (excluding MMDAs) | $113,922 |
| Total time deposits | $108,837 |
| Total time and savings deposits | $801,772 |
| Noninterest-bearing deposits | $346,256 |
| Interest-bearing deposits | $510,346 |
| Retail deposits | $835,469 |
| IRAs and Keogh plan accounts | $11,248 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,027,574 |
| Cash & Balances due from depository institutions | $36,155 |
| Interest-bearing balances | $16,395 |
| Total securities | $254,550 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $683,714 |
| Loan and leases loss allowance | $3,278 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $18,125 |
| Other real estate owned | $899 |
| Goodwill and other intangibles | $0 |
| All other assets | $34,131 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,027,574 |
| Total Liabilities | $891,403 |
| Total deposits | $856,602 |
| Interest-bearing deposits | $510,346 |
| Deposits held in domestic offices | $856,602 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $32,301 |
| Trading liabilities | $0 |
| Other borrowed funds | $595 |
| Subordinated debt | $0 |
| All other liabilities | $1,905 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $683,714 |
| Loan and leases loss allowance | $3,278 |
| Total loans and leases (domestic) | $686,992 |
| All real estate loans | $541,937 |
| Real estate loans in domestic offices | $541,937 |
| Construction and development loans | $183,094 |
| Residential 1-4 family construction | $93,945 |
| Other construction, all land development and other land | $89,149 |
| Loans secured by nonfarm nonresidential properties | $203,069 |
| Nonfarm nonresidential secured by owner-occupied properties | $67,165 |
| Commercial real estate & other non-farm, non-residential | $135,904 |
| Multifamily residential real estate | $19,494 |
| 1-4 family residential loans | $112,128 |
| Farmland loans | $24,152 |
| Loans held in foreign offices | $0 |
| Farm loans | $4,656 |
| Commercial and industrial loans | $113,590 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $26,281 |
| Credit card loans | $0 |
| Related Plans | $156 |
| Consumer Auto Loans | $8,804 |
| Other loans to individuals | $17,321 |
| All other loans & leases | $674 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $93 |
| 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 | $13,819 |
| Non 1-4 family restructured loans & leases | $12,680 |
| Total loans and leases (foreign) | $0 |
Security State Bank & Trust had $683,714,000 of loans outstanding in 2018. $541,937,000 of loans were in real estate loans. $183,094,000 of loans were in development loans. $19,494,000 of loans were in multifamily mortgage loans. $112,128,000 of loans were in 1-4 family mortgage loans. $4,656,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,804,000 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 | 287 | $71,788 | $250,132 |
| Nonfarm, nonresidential loans - <$100k | 57 | $2,685 | $47,105 |
| Nonfarm, nonresidential loans - $100-250k | 86 | $10,394 | $120,860 |
| Nonfarm, nonresidential loans - $250k-1MM | 144 | $58,709 | $407,701 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,695 | $72,439 | $42,737 |
| Commercial & Industrial, US addressed loans - <$100k | 1,439 | $39,021 | $27,117 |
| Commercial & Industrial, US addressed loans - $100-250k | 206 | $19,268 | $93,534 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 50 | $14,150 | $283,000 |
| Farmland loans - <$1MM | 53 | $6,669 | $125,830 |
| Farmland loans - <$100k | 16 | $670 | $41,875 |
| Farmland loans - $100-250k | 21 | $2,416 | $115,048 |
| Farmland loans - $250k-1MM | 16 | $3,583 | $223,938 |
| Agriculture operations loans - <$1MM | 121 | $2,575 | $21,281 |
| Agriculture operations loans - <$100k | 116 | $2,092 | $18,034 |
| Agriculture operations loans - $100-250k | 4 | $334 | $83,500 |
| Agriculture operations loans - $250k-1MM | 1 | $149 | $149,000 |