Security State Bank & Trust Mortgage Rates, Fees & Info
Fredericksburg, TXLEI: 549300KLIO6FT2J64B78
Tax ID: 74-0890992
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Bank Data
Review & Overview
Security State Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Security State Bank & Trust has a high proportion of conventional loans. They have a low ratio of USDA 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: San Antonio, Fredericksburg, Austin, Kerrville, and Dallas among others. We have data for 17 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.87% | 4/18/24 |
| 30 Year FHA Purchase | 7.52% | 4/18/24 |
| 30 Year VA Purchase | 6.52% | 4/18/24 |
| 30 Year VA Refi | 6.58% | 4/18/24 |
| 30 Year USDA Purchase | 6.31% | 4/18/24 |
| 15 Year Conventional Purchase | 8.33% | 4/18/24 |
| 15 Year Conventional Refi | 6.66% | 4/18/24 |
| 15 Year Cash-out Refi | 6.66% | 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. | ||
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
553Origination Dollar Volume (All Markets)
$154,705,000Employee count
298Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 181 | $48,265,000 | $266,657 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 99 | $26,745,000 | $270,152 | $0 | 0.00% |
| Fredericksburg, TX (FHA|USDA|VA) | 97 | $26,335,000 | $271,495 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 48 | $22,050,000 | $459,375 | $0 | 0.00% |
| Kerrville, TX (FHA|USDA|VA) | 82 | $12,610,000 | $153,780 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 17 | $11,695,000 | $687,941 | $0 | 0.00% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 6 | $2,280,000 | $380,000 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 6 | $1,480,000 | $246,667 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 6 | $1,420,000 | $236,667 | $0 | 0.00% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 0.00% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Rockport, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Granbury, TX (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 0.00% |
| Brownwood, TX (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $0 | 0.00% |
| Lufkin, 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
For 2020, Security State Bank & Trust's most frequently originated type of loan was Conventional, with 546 originations. Their 2nd most popular type was VA, with 3 originations.
Loan Reason
For 2020, Security State Bank & Trust's most frequently cited loan purpose was Home Purchase, with 229 originations. The 2nd most popular reason was Refi, with 212 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 553 | $154,705,000 | $279,756 | $0 | 0.00% |
For 2020, Security State Bank & Trust's most frequently cited loan duration was Other, with 553 originations.
Loan Sizing
2020 saw Security State Bank & Trust place emphasis on $200k-400k loans with 196 originations, totaling $54,250,000 in origination value.
Applicant Income
Security State Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 109 originations. The second most popular income band? $100k-150k, with 107 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 553 | $154,705,000 | $279,756 | $0 | 0.00% |
Security State Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 553 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.99%
Security State Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination81.37%
Security State Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 553 | $154,705,000 | $279,756 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Security National Financial Corp | Conventional home mortgage | Closing on a mortgage | 2 | 33.3% |
| Security National Financial Corp | Conventional home mortgage | Trouble during payment process | 4 | 66.7% |
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 | $46,326 |
| 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 | $188,257 |
| Security State Bank & Trust | 11610 Bee Caves Rd Ste 100 Bee Cave, TX 78738 | Full Service B&M | $21,040 |
| Security State Bank & Trust | 1500 Hwy 290 West Dripping Springs, TX 78620 | Full Service B&M | $22,065 |
| Security State Bank & Trust | 18125 Fm 306 Canyon Lake, TX 78133 | Full Service B&M | $28,761 |
| Security State Bank & Trust | 201 West Main Street Fredericksburg, TX 78624 | Full Service B&M | $308,924 |
| 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 | $39,407 |
| 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 | $41,775 |
| Security State Bank & Trust | 3131 Bulverde Road Bulverde, TX 78163 | Full Service B&M | $47,321 |
| Security State Bank & Trust | 3241 Junction Highway Ingram, TX 78025 | Full Service B&M | $40,519 |
| Security State Bank & Trust | 3610 Pace Bend Rd. South Spicewood, TX 78669 | Full Service B&M | $47,644 |
| Security State Bank & Trust | 501 Landa Street New Braunfels, TX 78130 | Full Service B&M | $14,466 |
| Security State Bank & Trust | 607 Main Street Boerne, TX 78006 | Full Service B&M | $41,355 |
| Security State Bank & Trust | 608 Highway 281 North Marble Falls, TX 78654 | Full Service B&M | $116,314 |
| 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 | $57,564 |
| Security State Bank & Trust | 832 Front Street Comfort, TX 78013 | Full Service B&M | $33,171 |
For 2020, Security State Bank & Trust had 20 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $50,537 |
| Net interest income | $46,765 |
| Total noninterest income | $9,002 |
| Gross Fiduciary activities income | $1,192 |
| Service charges on deposit accounts | $1,692 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,118 |
| Pre-tax net operating income | $17,276 |
| Securities gains (or losses, -) | $31 |
| Income before extraordinary items | $17,307 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $17,307 |
| Minority interest net income | $0 |
| Net income | $17,307 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $17,276 |
Security State Bank & Trust's gross interest income from loans was $50,537,000.
Security State Bank & Trust's net interest income from loans was $46,765,000.
Security State Bank & Trust's fee based income from loans was $1,692,000.
Security State Bank & Trust's net income from loans was $17,307,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,772 |
| Provision for credit losses | $2,682 |
| Total noninterest expense | $35,809 |
| Salaries and employee benefits | $23,782 |
| Premises and equipment expense | $3,764 |
| Additional noninterest expense | $8,263 |
| Applicable income taxes | $0 |
| Net charge-offs | $425 |
| Cash dividends | $8,834 |
Security State Bank & Trust's interest expense for loans was $3,772,000.
Security State Bank & Trust's payroll and benefits expense were $23,782,000.
Security State Bank & Trust's property, plant and equipment expenses $3,764,000.
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 | 3.0% |
| 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 | $1,208,806 |
| Deposits held in domestic offices | $1,208,806 |
| Deposits by Individuals, partnerships, and corporations | $1,069,301 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $139,505 |
| 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 | $60,403 |
| Demand deposits | $15,257 |
| Nontransaction accounts | $1,148,403 |
| Money market deposit accounts (MMDAs) | $820,280 |
| Other savings deposits (excluding MMDAs) | $165,635 |
| Total time deposits | $162,488 |
| Total time and savings deposits | $1,193,549 |
| Noninterest-bearing deposits | $521,992 |
| Interest-bearing deposits | $686,814 |
| Retail deposits | $1,147,595 |
| IRAs and Keogh plan accounts | $12,837 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,422,506 |
| Cash & Balances due from depository institutions | $301,063 |
| Interest-bearing balances | $249,597 |
| Total securities | $293,664 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $766,390 |
| Loan and leases loss allowance | $5,520 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $18,362 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $43,027 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,422,506 |
| Total Liabilities | $1,263,885 |
| Total deposits | $1,208,806 |
| Interest-bearing deposits | $686,814 |
| Deposits held in domestic offices | $1,208,806 |
| % insured (estimated) | $66 |
| Federal funds purchased and repurchase agreements | $50,109 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,385 |
| Subordinated debt | $0 |
| All other liabilities | $2,585 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $766,390 |
| Loan and leases loss allowance | $5,520 |
| Total loans and leases (domestic) | $771,910 |
| All real estate loans | $630,554 |
| Real estate loans in domestic offices | $630,554 |
| Construction and development loans | $241,920 |
| Residential 1-4 family construction | $80,848 |
| Other construction, all land development and other land | $161,072 |
| Loans secured by nonfarm nonresidential properties | $239,713 |
| Nonfarm nonresidential secured by owner-occupied properties | $71,498 |
| Commercial real estate & other non-farm, non-residential | $168,215 |
| Multifamily residential real estate | $14,720 |
| 1-4 family residential loans | $110,255 |
| Farmland loans | $23,946 |
| Loans held in foreign offices | $0 |
| Farm loans | $6,694 |
| Commercial and industrial loans | $111,926 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $22,343 |
| Credit card loans | $0 |
| Related Plans | $16 |
| Consumer Auto Loans | $7,323 |
| Other loans to individuals | $15,004 |
| All other loans & leases | $421 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $8 |
| 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 | $216 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Security State Bank & Trust had $766,390,000 of loans outstanding in 2020. $630,554,000 of loans were in real estate loans. $241,920,000 of loans were in development loans. $14,720,000 of loans were in multifamily mortgage loans. $110,255,000 of loans were in 1-4 family mortgage loans. $6,694,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,323,000 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 | $76,388 | $276,768 |
| Nonfarm, nonresidential loans - <$100k | 45 | $2,175 | $48,333 |
| Nonfarm, nonresidential loans - $100-250k | 82 | $10,783 | $131,500 |
| Nonfarm, nonresidential loans - $250k-1MM | 149 | $63,430 | $425,705 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,373 | $54,569 | $39,744 |
| Commercial & Industrial, US addressed loans - <$100k | 1,184 | $24,153 | $20,399 |
| Commercial & Industrial, US addressed loans - $100-250k | 127 | $13,530 | $106,535 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 62 | $16,886 | $272,355 |
| Farmland loans - <$1MM | 38 | $5,135 | $135,132 |
| Farmland loans - <$100k | 11 | $439 | $39,909 |
| Farmland loans - $100-250k | 18 | $2,012 | $111,778 |
| Farmland loans - $250k-1MM | 9 | $2,684 | $298,222 |
| Agriculture operations loans - <$1MM | 121 | $2,649 | $21,893 |
| Agriculture operations loans - <$100k | 117 | $2,370 | $20,256 |
| Agriculture operations loans - $100-250k | 4 | $279 | $69,750 |