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 Home Purchase and NA loans. Security State Bank & Trust 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: Austin, Fredericksburg, San Antonio, Kerrville, 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
336Origination Dollar Volume (All Markets)
$93,920,000Employee count
290Top 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) | 38 | $22,920,000 | $603,158 | $0 | 0.00% |
| Outside of Metro Areas | 89 | $20,855,000 | $234,326 | $0 | 0.00% |
| Fredericksburg, TX (FHA|USDA|VA) | 59 | $18,095,000 | $306,695 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 54 | $16,590,000 | $307,222 | $0 | 0.00% |
| Kerrville, TX (FHA|USDA|VA) | 67 | $9,715,000 | $145,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 13 | $3,095,000 | $238,077 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 4 | $650,000 | $162,500 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 4 | $530,000 | $132,500 | $0 | 0.00% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Palestine, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Granbury, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Andrews, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| WACO, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $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
For 2019, Security State Bank & Trust's most frequently originated type of loan was Conventional, with 313 originations. Their 2nd most popular type was VA, with 13 originations.
Loan Reason
For 2019, Security State Bank & Trust's most frequently cited loan purpose was Home Purchase, with 185 originations. The 2nd most popular reason was NA, with 78 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 336 | $93,920,000 | $279,524 | $0 | 0.00% |
For 2019, Security State Bank & Trust's most frequently cited loan duration was Other, with 336 originations.
Loan Sizing
2019 saw Security State Bank & Trust place emphasis on $200k-400k loans with 118 originations, totaling $32,800,000 in origination value.
Applicant Income
Security State Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 64 originations. The second most popular income band? $50k-75k, with 63 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 336 | $93,920,000 | $279,524 | $0 | 0.00% |
Security State Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 336 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.99%
Security State Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination80.36%
Security State Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 336 | $93,920,000 | $279,524 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Security National Financial Corp | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| Security National Financial Corp | Other type of mortgage | Trouble during payment process | 1 | 33.3% |
| Security National Financial Corp | VA mortgage | Closing on a mortgage | 1 | 33.3% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Security State Bank & Trust | 3241 Junction Highway Ingram, TX 78025 | Full Service B&M | $28,725 |
| Security State Bank & Trust | 1000 Hwy 281 South Blanco, TX 78606 | Full Service B&M | $34,426 |
| 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 | $160,286 |
| Security State Bank & Trust | 11610 Bee Caves Rd Ste 100 Bee Cave, TX 78738 | Full Service B&M | $10,646 |
| Security State Bank & Trust | 1500 Hwy 290 West Dripping Springs, TX 78620 | Full Service B&M | $18,352 |
| Security State Bank & Trust | 18125 Fm 306 Canyon Lake, TX 78133 | Full Service B&M | $25,499 |
| Security State Bank & Trust | 201 West Main Street Fredericksburg, TX 78624 | Full Service B&M | $253,607 |
| 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 | $34,069 |
| 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 | $35,222 |
| Security State Bank & Trust | 3131 Bulverde Road Bulverde, TX 78163 | Full Service B&M | $31,802 |
| Security State Bank & Trust | 3610 Pace Bend Rd. South Spicewood, TX 78669 | Full Service B&M | $41,600 |
| Security State Bank & Trust | 501 Landa Street New Braunfels, TX 78130 | Full Service B&M | $7,962 |
| Security State Bank & Trust | 607 Main Street Boerne, TX 78006 | Full Service B&M | $37,028 |
| Security State Bank & Trust | 608 Highway 281 North Marble Falls, TX 78654 | Full Service B&M | $91,292 |
| 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 | $46,994 |
| Security State Bank & Trust | 832 Front Street Comfort, TX 78013 | Full Service B&M | $30,860 |
For 2019, Security State Bank & Trust had 20 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $51,445 |
| Net interest income | $46,436 |
| Total noninterest income | $7,849 |
| Gross Fiduciary activities income | $1,119 |
| Service charges on deposit accounts | $2,238 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,492 |
| Pre-tax net operating income | $20,718 |
| Securities gains (or losses, -) | $130 |
| Income before extraordinary items | $20,848 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $20,848 |
| Minority interest net income | $0 |
| Net income | $20,848 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $20,718 |
Security State Bank & Trust's gross interest income from loans was $51,445,000.
Security State Bank & Trust's net interest income from loans was $46,436,000.
Security State Bank & Trust's fee based income from loans was $2,238,000.
Security State Bank & Trust's net income from loans was $20,848,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,009 |
| Provision for credit losses | $70 |
| Total noninterest expense | $33,497 |
| Salaries and employee benefits | $21,426 |
| Premises and equipment expense | $3,408 |
| Additional noninterest expense | $8,663 |
| Applicable income taxes | $0 |
| Net charge-offs | $85 |
| Cash dividends | $12,000 |
Security State Bank & Trust's interest expense for loans was $5,009,000.
Security State Bank & Trust's payroll and benefits expense were $21,426,000.
Security State Bank & Trust's property, plant and equipment expenses $3,408,000.
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 | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| 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 | $975,719 |
| Deposits held in domestic offices | $975,719 |
| Deposits by Individuals, partnerships, and corporations | $836,823 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $138,896 |
| 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 | $60,457 |
| Demand deposits | $21,364 |
| Nontransaction accounts | $915,262 |
| Money market deposit accounts (MMDAs) | $615,951 |
| Other savings deposits (excluding MMDAs) | $125,594 |
| Total time deposits | $173,717 |
| Total time and savings deposits | $954,355 |
| Noninterest-bearing deposits | $370,292 |
| Interest-bearing deposits | $605,427 |
| Retail deposits | $910,934 |
| IRAs and Keogh plan accounts | $12,532 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,172,672 |
| Cash & Balances due from depository institutions | $164,318 |
| Interest-bearing balances | $145,967 |
| Total securities | $226,518 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $725,172 |
| Loan and leases loss allowance | $3,263 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $18,911 |
| Other real estate owned | $757 |
| Goodwill and other intangibles | $0 |
| All other assets | $36,996 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,172,672 |
| Total Liabilities | $1,023,604 |
| Total deposits | $975,719 |
| Interest-bearing deposits | $605,427 |
| Deposits held in domestic offices | $975,719 |
| % insured (estimated) | $68 |
| Federal funds purchased and repurchase agreements | $44,927 |
| Trading liabilities | $0 |
| Other borrowed funds | $573 |
| Subordinated debt | $0 |
| All other liabilities | $2,385 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $725,172 |
| Loan and leases loss allowance | $3,263 |
| Total loans and leases (domestic) | $728,435 |
| All real estate loans | $587,299 |
| Real estate loans in domestic offices | $587,299 |
| Construction and development loans | $213,146 |
| Residential 1-4 family construction | $93,211 |
| Other construction, all land development and other land | $119,935 |
| Loans secured by nonfarm nonresidential properties | $214,794 |
| Nonfarm nonresidential secured by owner-occupied properties | $76,073 |
| Commercial real estate & other non-farm, non-residential | $138,721 |
| Multifamily residential real estate | $15,557 |
| 1-4 family residential loans | $114,366 |
| Farmland loans | $29,436 |
| Loans held in foreign offices | $0 |
| Farm loans | $7,725 |
| Commercial and industrial loans | $110,211 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $22,403 |
| Credit card loans | $0 |
| Related Plans | $121 |
| Consumer Auto Loans | $8,118 |
| Other loans to individuals | $14,164 |
| All other loans & leases | $902 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $331 |
| 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 | $131 |
| Non 1-4 family restructured loans & leases | $2 |
| Total loans and leases (foreign) | $0 |
Security State Bank & Trust had $725,172,000 of loans outstanding in 2019. $587,299,000 of loans were in real estate loans. $213,146,000 of loans were in development loans. $15,557,000 of loans were in multifamily mortgage loans. $114,366,000 of loans were in 1-4 family mortgage loans. $7,725,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,118,000 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 | 276 | $74,670 | $270,543 |
| Nonfarm, nonresidential loans - <$100k | 48 | $2,312 | $48,167 |
| Nonfarm, nonresidential loans - $100-250k | 85 | $11,430 | $134,471 |
| Nonfarm, nonresidential loans - $250k-1MM | 143 | $60,928 | $426,070 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,606 | $69,808 | $43,467 |
| Commercial & Industrial, US addressed loans - <$100k | 1,382 | $37,751 | $27,316 |
| Commercial & Industrial, US addressed loans - $100-250k | 174 | $16,897 | $97,109 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 50 | $15,160 | $303,200 |
| Farmland loans - <$1MM | 38 | $5,975 | $157,237 |
| Farmland loans - <$100k | 11 | $561 | $51,000 |
| Farmland loans - $100-250k | 15 | $1,962 | $130,800 |
| Farmland loans - $250k-1MM | 12 | $3,452 | $287,667 |
| Agriculture operations loans - <$1MM | 108 | $2,541 | $23,528 |
| Agriculture operations loans - <$100k | 102 | $2,040 | $20,000 |
| Agriculture operations loans - $100-250k | 5 | $385 | $77,000 |
| Agriculture operations loans - $250k-1MM | 1 | $116 | $116,000 |