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 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, Dallas, and Kerrville among others. We have data for 19 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
484Origination Dollar Volume (All Markets)
$171,640,000Employee count
309Top 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 | 139 | $43,355,000 | $311,906 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 56 | $30,930,000 | $552,321 | $0 | 0.00% |
| Fredericksburg, TX (FHA|USDA|VA) | 68 | $30,730,000 | $451,912 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 85 | $27,365,000 | $321,941 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 27 | $14,335,000 | $530,926 | $0 | 0.00% |
| Kerrville, TX (FHA|USDA|VA) | 76 | $13,460,000 | $177,105 | $0 | 0.00% |
| Rockport, TX (FHA|USDA|VA) | 5 | $2,495,000 | $499,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $2,445,000 | $489,000 | $0 | 0.00% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 6 | $2,090,000 | $348,333 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $0 | 0.00% |
| Brownwood, TX (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 0.00% |
| WACO, TX (FHA|USDA|VA) | 1 | $555,000 | $555,000 | $0 | 0.00% |
| MIDLAND, TX (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Port Lavaca, TX (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Granbury, 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 2021, Security State Bank & Trust's most frequently originated type of loan was Conventional, with 473 originations. Their 2nd most popular type was FHA, with 6 originations.
Loan Reason
For 2021, Security State Bank & Trust's most frequently cited loan purpose was Home Purchase, with 239 originations. The 2nd most popular reason was Refi, with 112 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 484 | $171,640,000 | $354,628 | $0 | 0.00% |
For 2021, Security State Bank & Trust's most frequently cited loan duration was Other, with 484 originations.
Loan Sizing
2021 saw Security State Bank & Trust place emphasis on $200k-400k loans with 178 originations, totaling $51,300,000 in origination value.
Applicant Income
Security State Bank & Trust lent most frequently to those with incomes in the $150k-250k range, with 113 originations. The second most popular income band? $100k-150k, with 82 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 484 | $171,640,000 | $354,628 | $0 | 0.00% |
Security State Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 484 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.08%
Security State Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination83.26%
Security State Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 484 | $171,640,000 | $354,628 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Security National Financial Corp | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| Security National Financial Corp | Conventional home mortgage | Closing on a mortgage | 1 | 7.1% |
| Security National Financial Corp | Conventional home mortgage | Incorrect information on your report | 1 | 7.1% |
| Security National Financial Corp | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
| Security National Financial Corp | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| Security National Financial Corp | FHA mortgage | Trouble during payment process | 2 | 14.3% |
| Security National Financial Corp | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 14.3% |
| Security National Financial Corp | VA mortgage | Closing on a mortgage | 1 | 7.1% |
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 | $53,863 |
| 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 | $216,138 |
| Security State Bank & Trust | 11610 Bee Caves Rd Ste 100 Bee Cave, TX 78738 | Full Service B&M | $28,312 |
| Security State Bank & Trust | 1500 Hwy 290 West Dripping Springs, TX 78620 | Full Service B&M | $27,495 |
| Security State Bank & Trust | 15050 Texas 29 Liberty Hill, TX 78642 | Full Service Retail | $834 |
| Security State Bank & Trust | 18125 Fm 306 Canyon Lake, TX 78133 | Full Service B&M | $40,937 |
| Security State Bank & Trust | 201 West Main Street Fredericksburg, TX 78624 | Full Service B&M | $392,300 |
| 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 | $47,439 |
| 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 | $48,473 |
| Security State Bank & Trust | 3131 Bulverde Road Bulverde, TX 78163 | Full Service B&M | $52,072 |
| Security State Bank & Trust | 3241 Junction Highway Ingram, TX 78025 | Full Service B&M | $47,273 |
| Security State Bank & Trust | 3610 Pace Bend Rd. South Spicewood, TX 78669 | Full Service B&M | $62,146 |
| Security State Bank & Trust | 501 Landa Street New Braunfels, TX 78130 | Full Service B&M | $21,236 |
| Security State Bank & Trust | 607 Main Street Boerne, TX 78006 | Full Service B&M | $54,024 |
| Security State Bank & Trust | 608 Highway 281 North Marble Falls, TX 78654 | Full Service B&M | $143,223 |
| 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 | $74,740 |
| Security State Bank & Trust | 832 Front Street Comfort, TX 78013 | Full Service B&M | $39,013 |
For 2021, Security State Bank & Trust had 21 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $55,613 |
| Net interest income | $53,383 |
| Total noninterest income | $9,556 |
| Gross Fiduciary activities income | $1,298 |
| Service charges on deposit accounts | $1,908 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,350 |
| Pre-tax net operating income | $23,248 |
| Securities gains (or losses, -) | $-42 |
| Income before extraordinary items | $23,206 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $23,206 |
| Minority interest net income | $0 |
| Net income | $23,206 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $23,248 |
Security State Bank & Trust's gross interest income from loans was $55,613,000.
Security State Bank & Trust's net interest income from loans was $53,383,000.
Security State Bank & Trust's fee based income from loans was $1,908,000.
Security State Bank & Trust's net income from loans was $23,206,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,230 |
| Provision for credit losses | $439 |
| Total noninterest expense | $39,252 |
| Salaries and employee benefits | $26,613 |
| Premises and equipment expense | $3,770 |
| Additional noninterest expense | $8,869 |
| Applicable income taxes | $0 |
| Net charge-offs | $-22 |
| Cash dividends | $12,060 |
Security State Bank & Trust's interest expense for loans was $2,230,000.
Security State Bank & Trust's payroll and benefits expense were $26,613,000.
Security State Bank & Trust's property, plant and equipment expenses $3,770,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| 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 | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,459,060 |
| Deposits held in domestic offices | $1,459,060 |
| Deposits by Individuals, partnerships, and corporations | $1,328,314 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $130,746 |
| 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 | $56,580 |
| Demand deposits | $16,382 |
| Nontransaction accounts | $1,402,480 |
| Money market deposit accounts (MMDAs) | $1,004,267 |
| Other savings deposits (excluding MMDAs) | $229,087 |
| Total time deposits | $169,126 |
| Total time and savings deposits | $1,442,678 |
| Noninterest-bearing deposits | $667,645 |
| Interest-bearing deposits | $791,415 |
| Retail deposits | $1,405,362 |
| IRAs and Keogh plan accounts | $13,691 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,673,145 |
| Cash & Balances due from depository institutions | $188,245 |
| Interest-bearing balances | $131,591 |
| Total securities | $411,487 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,005,036 |
| Loan and leases loss allowance | $5,981 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $18,698 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $49,679 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,673,145 |
| Total Liabilities | $1,506,331 |
| Total deposits | $1,459,060 |
| Interest-bearing deposits | $791,415 |
| Deposits held in domestic offices | $1,459,060 |
| % insured (estimated) | $67 |
| Federal funds purchased and repurchase agreements | $41,742 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,291 |
| Subordinated debt | $0 |
| All other liabilities | $3,238 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,005,036 |
| Loan and leases loss allowance | $5,981 |
| Total loans and leases (domestic) | $1,011,017 |
| All real estate loans | $857,310 |
| Real estate loans in domestic offices | $857,310 |
| Construction and development loans | $372,358 |
| Residential 1-4 family construction | $125,126 |
| Other construction, all land development and other land | $247,232 |
| Loans secured by nonfarm nonresidential properties | $279,013 |
| Nonfarm nonresidential secured by owner-occupied properties | $93,603 |
| Commercial real estate & other non-farm, non-residential | $185,410 |
| Multifamily residential real estate | $25,878 |
| 1-4 family residential loans | $146,018 |
| Farmland loans | $34,043 |
| Loans held in foreign offices | $0 |
| Farm loans | $4,790 |
| Commercial and industrial loans | $126,554 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $21,769 |
| Credit card loans | $0 |
| Related Plans | $35 |
| Consumer Auto Loans | $7,054 |
| Other loans to individuals | $14,680 |
| All other loans & leases | $599 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $263 |
| 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 | $4,299 |
| Non 1-4 family restructured loans & leases | $4,100 |
| Total loans and leases (foreign) | $0 |
Security State Bank & Trust had $1,005,036,000 of loans outstanding in 2021. $857,310,000 of loans were in real estate loans. $372,358,000 of loans were in development loans. $25,878,000 of loans were in multifamily mortgage loans. $146,018,000 of loans were in 1-4 family mortgage loans. $4,790,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,054,000 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 | 295 | $73,436 | $248,936 |
| Nonfarm, nonresidential loans - <$100k | 47 | $1,636 | $34,809 |
| Nonfarm, nonresidential loans - $100-250k | 82 | $9,729 | $118,646 |
| Nonfarm, nonresidential loans - $250k-1MM | 166 | $62,071 | $373,922 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,249 | $51,832 | $41,499 |
| Commercial & Industrial, US addressed loans - <$100k | 1,048 | $19,983 | $19,068 |
| Commercial & Industrial, US addressed loans - $100-250k | 121 | $10,122 | $83,653 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 80 | $21,727 | $271,588 |
| Farmland loans - <$1MM | 46 | $9,751 | $211,978 |
| Farmland loans - <$100k | 11 | $420 | $38,182 |
| Farmland loans - $100-250k | 14 | $1,496 | $106,857 |
| Farmland loans - $250k-1MM | 21 | $7,835 | $373,095 |
| Agriculture operations loans - <$1MM | 124 | $3,415 | $27,540 |
| Agriculture operations loans - <$100k | 117 | $2,106 | $18,000 |
| Agriculture operations loans - $100-250k | 5 | $551 | $110,200 |
| Agriculture operations loans - $250k-1MM | 2 | $758 | $379,000 |