Walcott Trust And Savings Bank Mortgage Rates, Fees & Info

Walcott, IA

LEI: 549300QITILXWOW8BS35

Tax ID: 42-0583120

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Walcott Trust And Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Walcott Trust And Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Davenport.

    Walcott Trust And Savings Bank 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.

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    Originations

    96

    Origination Dollar Volume (All Markets)

    $12,850,000

    Employee count

    27

    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
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 84 $6,680,000 $79,524 $486 5.61%
    Outside of Metro Areas 12 $6,170,000 $514,167 $515 5.48%
    Walcott Trust And Savings Bank's top markets include and Davenport among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 96 $12,850,000 $133,854 $491 5.59%

    For 2019, Walcott Trust And Savings Bank's most frequently originated type of loan was Conventional, with 96 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 69 $5,405,000 $78,333 $358 5.60%
    Home Purchase 22 $7,170,000 $325,909 $1,331 5.55%
    Other 4 $90,000 $22,500 $319 5.75%
    Cash Out Refi 1 $185,000 $185,000 $730 5.75%

    For 2019, Walcott Trust And Savings Bank's most frequently cited loan purpose was Refi, with 69 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 63 $9,975,000 $158,333 $200 5.49%
    Other 25 $1,915,000 $76,600 $488 5.78%
    1 Year 8 $960,000 $120,000 $645 5.88%

    For 2019, Walcott Trust And Savings Bank's most frequently cited loan duration was 5 Year, with 63 originations. The 2nd most popular length was Other, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 30 $2,120,000 $70,667
    $1k-2k 1 $205,000 $205,000

    Walcott Trust And Savings Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 30 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 79 $11,285,000 $142,848
    4-5% 9 $1,205,000 $133,889
    6-7% 8 $360,000 $45,000

    During 2019, Walcott Trust And Savings Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 74 $3,610,000 $48,784 $414 5.66%
    $100k-200k 10 $1,440,000 $144,000 $885 5.51%
    $200k-400k 7 $1,795,000 $256,429 $581 5.39%
    $400k-600k 3 $1,415,000 $471,667 $0 5.10%
    $1MM+ 2 $4,590,000 $2,295,000 $0 5.05%

    2019 saw Walcott Trust And Savings Bank place emphasis on $100,000 or less loans with 74 originations, totaling $3,610,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $930,000 $58,125 $574 5.44%
    $50k-75k 14 $1,020,000 $72,857 $294 5.73%
    $250k+ 12 $1,690,000 $140,833 $417 5.31%
    $150k-250k 7 $645,000 $92,143 $469 5.77%
    $50k or less 7 $275,000 $39,286 $441 5.71%
    $75k-100k 4 $240,000 $60,000 $1,176 5.88%

    Walcott Trust And Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $50k-75k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $655,000 $72,778 $403 5.50%
    30-36% 9 $895,000 $99,444 $498 5.97%
    39% 3 $145,000 $48,333 $302 5.92%
    <20% 2 $100,000 $50,000 $1,714 6.13%
    36% 2 $110,000 $55,000 $50 6.25%
    50-60% 2 $120,000 $60,000 $104 5.73%
    37% 1 $205,000 $205,000 $1,144 5.50%
    41% 1 $45,000 $45,000 $250 5.50%
    42% 1 $35,000 $35,000 $539 6.50%
    38% 1 $15,000 $15,000 $529 5.50%

    Walcott Trust And Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 30-36%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 33 $7,785,000 $235,909 $0 5.60%
    White 63 $5,065,000 $80,397 $491 5.59%

    Approval Rates

    Total approvals of all applications
    97.41%

    Walcott Trust And Savings Bank 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
    82.29%

    Walcott Trust And Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 96 $12,850,000 $133,854

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $5,450,000 $1,362,500
    Single Family (1-4 Units):Site-Built 92 $7,400,000 $80,435

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $1,060,000 $66,250 $233 5.63%
    40-60% 26 $1,820,000 $70,000 $876 5.63%
    60-80% 34 $9,020,000 $265,294 $758 5.42%
    80-100% 6 $450,000 $75,000 $1,144 5.50%
    Under 20% 14 $500,000 $35,714 $229 5.96%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    WALL STREET MORTGAGE BANKERS Conventional home mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Walcott Trust and Savings Bank 101 West Bryant Street Walcott, IA 52773 Full Service B&M $89,571
    Walcott Trust and Savings Bank 2322 E. Kimberly Rd, Unit D2-1 Davenport, IA 52807 Full Service B&M $18,509

    For 2019, Walcott Trust And Savings Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $464
    Net interest income $366
    Total noninterest income $16
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $8
    Trading account gains and fees $0
    Additional Noninterest Income $8
    Pre-tax net operating income $121
    Securities gains (or losses, -) $0
    Income before extraordinary items $94
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $94
    Minority interest net income $0
    Net income $94
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $94

    Walcott Trust And Savings Bank's gross interest income from loans was $464,000.
    Walcott Trust And Savings Bank's net interest income from loans was $366,000.
    Walcott Trust And Savings Bank's fee based income from loans was $8,000.
    Walcott Trust And Savings Bank's net income from loans was $94,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $98
    Provision for credit losses $0
    Total noninterest expense $261
    Salaries and employee benefits $150
    Premises and equipment expense $24
    Additional noninterest expense $87
    Applicable income taxes $27
    Net charge-offs $0
    Cash dividends $0

    Walcott Trust And Savings Bank's interest expense for loans was $98,000.
    Walcott Trust And Savings Bank's payroll and benefits expense were $150,000.
    Walcott Trust And Savings Bank's property, plant and equipment expenses $24,000.

    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 2.0%
    HELOC loans 0.0%
    All other family 3.0%
    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 $118,924
    Deposits held in domestic offices $118,924
    Deposits by Individuals, partnerships, and corporations $109,622
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $4,116
    Deposits by Commercial banks and other depository institutions in U.S. $5,186
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $42,944
    Demand deposits $19,772
    Nontransaction accounts $75,980
    Money market deposit accounts (MMDAs) $30,913
    Other savings deposits (excluding MMDAs) $11,556
    Total time deposits $33,511
    Total time and savings deposits $99,152
    Noninterest-bearing deposits $19,513
    Interest-bearing deposits $99,411
    Retail deposits $105,052
    IRAs and Keogh plan accounts $4,113
    Brokered deposits $5,186
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $139,813
    Cash & Balances due from depository institutions $24,874
    Interest-bearing balances $22,648
    Total securities $11,564
    Federal funds sold & reverse repurchase $0
    Net loans and leases $93,707
    Loan and leases loss allowance $0
    Trading account assets $0
    Bank premises and fixed assets $1,150
    Other real estate owned $0
    Goodwill and other intangibles $7,197
    All other assets $1,321

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $139,813
    Total Liabilities $123,533
    Total deposits $118,924
    Interest-bearing deposits $99,411
    Deposits held in domestic offices $118,924
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,029
    Subordinated debt $0
    All other liabilities $580

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $93,707
    Loan and leases loss allowance $0
    Total loans and leases (domestic) $93,707
    All real estate loans $77,767
    Real estate loans in domestic offices $77,767
    Construction and development loans $5,303
    Residential 1-4 family construction $2,366
    Other construction, all land development and other land $2,937
    Loans secured by nonfarm nonresidential properties $31,683
    Nonfarm nonresidential secured by owner-occupied properties $17,799
    Commercial real estate & other non-farm, non-residential $13,884
    Multifamily residential real estate $2,925
    1-4 family residential loans $18,374
    Farmland loans $19,482
    Loans held in foreign offices $0
    Farm loans $7,030
    Commercial and industrial loans $8,142
    To non-U.S. addressees $0
    Loans to individuals $657
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $552
    Other loans to individuals $105
    All other loans & leases $111
    Loans to foreign governments and official institutions $0
    Other loans $111
    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

    Walcott Trust and Savings Bank had $93,707,000 of loans outstanding in 2019. $77,767,000 of loans were in real estate loans. $5,303,000 of loans were in development loans. $2,925,000 of loans were in multifamily mortgage loans. $18,374,000 of loans were in 1-4 family mortgage loans. $7,030,000 of loans were in farm loans. $0 of loans were in credit card loans. $552,000 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 50 $8,698 $173,960
    Nonfarm, nonresidential loans - <$100k 12 $497 $41,417
    Nonfarm, nonresidential loans - $100-250k 22 $3,039 $138,136
    Nonfarm, nonresidential loans - $250k-1MM 16 $5,162 $322,625
    Commercial & Industrial, US addressed loans - <$1MM 76 $5,799 $76,303
    Commercial & Industrial, US addressed loans - <$100k 52 $1,480 $28,462
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,397 $99,786
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $2,922 $292,200
    Farmland loans - <$1MM 40 $6,821 $170,525
    Farmland loans - <$100k 11 $468 $42,545
    Farmland loans - $100-250k 15 $1,797 $119,800
    Farmland loans - $250k-1MM 14 $4,556 $325,429
    Agriculture operations loans - <$1MM 86 $4,145 $48,198
    Agriculture operations loans - <$100k 63 $1,926 $30,571
    Agriculture operations loans - $100-250k 15 $1,140 $76,000
    Agriculture operations loans - $250k-1MM 8 $1,079 $134,875