Rocky Mountain Bank Mortgage Rates, Fees & Info

Billings, MT

LEI: 549300R9B3X06XL9UX62

Tax ID: 81-0305978

Latest/2022 | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Rocky Mountain Bank is a smaller bank specializing in Refi loans. Rocky Mountain Bank has a high proportion of conventional loans. Their top markets by origination volume include: Helena, Billings, Bozeman, Kalispell, and Missoula among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Rocky Mountain Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Rocky Mountain Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.84% 3/25/24
    30 Year Cash-out Refi 7.53% 3/25/24
    15 Year Conventional Purchase 6.08% 3/25/24
    15 Year Conventional Refi 5.72% 3/25/24
    15 Year Cash-out Refi 5.72% 3/25/24
    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.

    Rocky Mountain Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Rocky Mountain Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    81

    Origination Dollar Volume (All Markets)

    $17,895,000

    Employee count

    54

    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
    Helena, MT (FHA|USDA|VA) 11 $4,805,000 $436,818 $887 2.88%
    Outside of Metro Areas 34 $4,600,000 $135,294 $1,173 2.98%
    BILLINGS, MT (FHA|USDA|VA) 17 $3,835,000 $225,588 $877 2.86%
    Bozeman, MT (FHA|USDA|VA) 9 $1,915,000 $212,778 $943 2.63%
    Kalispell, MT (FHA|USDA|VA) 5 $1,325,000 $265,000 $1,602 2.50%
    MISSOULA, MT (FHA|USDA|VA) 4 $1,210,000 $302,500 $1,085 3.13%
    Butte-Silver Bow, MT (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.15%
    Rocky Mountain Bank's top markets include Helena, Billings, Bozeman, Kalispell, and Missoula among others.

    Their top states include:
  • Montana (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 81 $17,895,000 $220,926 $1,074 2.90%

    For 2021, Rocky Mountain Bank's most frequently originated type of loan was Conventional, with 81 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 55 $13,815,000 $251,182 $964 2.83%
    Home Improvement 14 $1,370,000 $97,857 $563 2.62%
    Home Purchase 7 $1,895,000 $270,714 $2,254 3.74%
    Other 4 $500,000 $125,000 $1,505 3.14%
    Cash Out Refi 1 $315,000 $315,000 $7,308 3.50%

    For 2021, Rocky Mountain Bank's most frequently cited loan purpose was Refi, with 55 originations. The 2nd most popular reason was Home Improvement, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 65 $11,285,000 $173,615 $890 2.69%
    5 Year 6 $1,710,000 $285,000 $0 4.61%
    10 Year 5 $545,000 $109,000 $591 2.80%
    30 Year 3 $665,000 $221,667 $5,881 3.33%
    Other 2 $3,690,000 $1,845,000 $0 4.00%

    For 2021, Rocky Mountain Bank's most frequently cited loan duration was 15 Year, with 65 originations. The 2nd most popular length was 5 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 70 $11,830,000 $169,000
    $1k-2k 1 $105,000 $105,000
    $3k-4k 1 $245,000 $245,000
    $4k-5k 1 $315,000 $315,000

    Rocky Mountain Bank's average total fees were $5,881, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 70 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 46 $8,060,000 $175,217
    2.5-3% 20 $3,540,000 $177,000
    3-4% 8 $4,410,000 $551,250
    4-5% 6 $1,680,000 $280,000
    5-6% 1 $205,000 $205,000

    During 2021, Rocky Mountain Bank's average interest rate for loans was 3.33%, while their most frequently originated rate bucket for loans was <2.5%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,865,000 $64,310 $402 2.89%
    $200k-400k 25 $6,705,000 $268,200 $1,779 2.97%
    $100k-200k 21 $2,925,000 $139,286 $1,029 2.60%
    $400k-600k 3 $1,555,000 $518,333 $0 4.50%
    $1MM+ 2 $4,140,000 $2,070,000 $2,033 2.88%
    $600k-1MM 1 $705,000 $705,000 $4,399 2.50%

    2021 saw Rocky Mountain Bank place emphasis on $100,000 or less loans with 29 originations, totaling $1,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 17 $1,665,000 $97,941 $793 2.85%
    $75k-100k 15 $2,155,000 $143,667 $890 2.76%
    $100k-150k 11 $1,615,000 $146,818 $768 2.72%
    $150k-250k 11 $2,005,000 $182,273 $815 2.60%
    $250k+ 8 $3,100,000 $387,500 $1,696 2.73%
    $50k-75k 6 $1,350,000 $225,000 $2,887 2.97%

    Rocky Mountain Bank lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $75k-100k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 22 $3,530,000 $160,455 $891 2.70%
    <20% 9 $1,305,000 $145,000 $876 2.59%
    30-36% 8 $1,540,000 $192,500 $837 3.08%
    42% 6 $720,000 $120,000 $573 2.63%
    50-60% 3 $765,000 $255,000 $1,379 2.77%
    41% 3 $405,000 $135,000 $518 2.80%
    38% 3 $805,000 $268,333 $3,229 2.83%
    45% 3 $405,000 $135,000 $2,286 2.97%
    40% 2 $310,000 $155,000 $2,265 2.75%
    36% 2 $540,000 $270,000 $1,051 2.70%
    43% 2 $580,000 $290,000 $1,617 2.70%
    44% 1 $125,000 $125,000 $1,083 2.50%
    39% 1 $225,000 $225,000 $1,387 2.50%
    37% 1 $295,000 $295,000 $1,140 3.00%
    >60% 1 $135,000 $135,000 $907 2.50%

    Rocky Mountain Bank lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? <20%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $7,100,000 $147,917 $1,094 2.89%
    Not provided 28 $6,360,000 $227,143 $1,041 2.66%
    Not applicable 5 $4,435,000 $887,000 $0 4.30%

    Approval Rates

    Total approvals of all applications
    73.08%

    Rocky Mountain Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.72%

    Rocky Mountain Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 81 $17,895,000 $220,926

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    81 $17,895,000 $220,926

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $2,190,000 $136,875 $867 2.78%
    40-60% 30 $8,970,000 $299,000 $1,008 2.75%
    60-80% 15 $4,845,000 $323,000 $2,033 3.32%
    80-100% 3 $815,000 $271,667 $3,741 3.75%
    Under 20% 17 $1,075,000 $63,235 $441 2.74%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Rocky Mountain Bank 101 East Legion Avenue Whitehall, MT 59759 Full Service B&M $54,526
    Rocky Mountain Bank 108 East Railroad Avenue Plains, MT 59859 Full Service B&M $58,417
    Rocky Mountain Bank 115 East 1st Avenue Plentywood, MT 59254 Full Service B&M $108,659
    Rocky Mountain Bank 220 Main Street Stevensville, MT 59870 Full Service B&M $57,579
    Rocky Mountain Bank 2405 Us Highway 93 North Kalispell, MT 59901 Full Service B&M $31,788
    Rocky Mountain Bank 2615 King Avenue West Billings, MT 59102 Full Service B&M $75,408
    Rocky Mountain Bank 2901 West Main Bozeman, MT 59718 Full Service B&M $92,085
    Rocky Mountain Bank 2929 3rd Avenue North Billings, MT 59101 Full Service B&M $50,976
    Rocky Mountain Bank 437 Grand Drive Bigfork, MT 59911 Full Service B&M $39,523

    For 2021, Rocky Mountain Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,165
    Net interest income $20,299
    Total noninterest income $3,657
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,334
    Trading account gains and fees $0
    Additional Noninterest Income $2,323
    Pre-tax net operating income $8,872
    Securities gains (or losses, -) $374
    Income before extraordinary items $7,162
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,162
    Minority interest net income $0
    Net income $7,162
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,866

    Rocky Mountain Bank's gross interest income from loans was $21,165,000.
    Rocky Mountain Bank's net interest income from loans was $20,299,000.
    Rocky Mountain Bank's fee based income from loans was $1,334,000.
    Rocky Mountain Bank's net income from loans was $7,162,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $866
    Provision for credit losses $-1,220
    Total noninterest expense $16,304
    Salaries and employee benefits $4,161
    Premises and equipment expense $1,339
    Additional noninterest expense $10,804
    Applicable income taxes $2,084
    Net charge-offs $-829
    Cash dividends $3,100

    Rocky Mountain Bank's interest expense for loans was $866,000.
    Rocky Mountain Bank's payroll and benefits expense were $4,161,000.
    Rocky Mountain Bank's property, plant and equipment expenses $1,339,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 6.0%
    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 $640,757
    Deposits held in domestic offices $640,757
    Deposits by Individuals, partnerships, and corporations $627,644
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $13,032
    Deposits by Commercial banks and other depository institutions in U.S. $80
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $97,853
    Demand deposits $68,081
    Nontransaction accounts $542,904
    Money market deposit accounts (MMDAs) $379,573
    Other savings deposits (excluding MMDAs) $106,421
    Total time deposits $56,911
    Total time and savings deposits $572,676
    Noninterest-bearing deposits $210,041
    Interest-bearing deposits $430,716
    Retail deposits $627,075
    IRAs and Keogh plan accounts $10,506
    Brokered deposits $20,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $713,930
    Cash & Balances due from depository institutions $8,356
    Interest-bearing balances $4,431
    Total securities $279,926
    Federal funds sold & reverse repurchase $8,175
    Net loans and leases $380,194
    Loan and leases loss allowance $4,466
    Trading account assets $328
    Bank premises and fixed assets $15,490
    Other real estate owned $0
    Goodwill and other intangibles $4,800
    All other assets $16,661

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $713,930
    Total Liabilities $650,876
    Total deposits $640,757
    Interest-bearing deposits $430,716
    Deposits held in domestic offices $640,757
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $5,477
    Trading liabilities $328
    Other borrowed funds $756
    Subordinated debt $0
    All other liabilities $3,558

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $380,194
    Loan and leases loss allowance $4,466
    Total loans and leases (domestic) $384,660
    All real estate loans $256,371
    Real estate loans in domestic offices $256,371
    Construction and development loans $30,257
    Residential 1-4 family construction $3,242
    Other construction, all land development and other land $27,015
    Loans secured by nonfarm nonresidential properties $137,237
    Nonfarm nonresidential secured by owner-occupied properties $91,140
    Commercial real estate & other non-farm, non-residential $46,097
    Multifamily residential real estate $13,003
    1-4 family residential loans $41,209
    Farmland loans $34,665
    Loans held in foreign offices $0
    Farm loans $27,400
    Commercial and industrial loans $80,087
    To non-U.S. addressees $0
    Loans to individuals $6,885
    Credit card loans $405
    Related Plans $3,142
    Consumer Auto Loans $1,480
    Other loans to individuals $1,858
    All other loans & leases $13,917
    Loans to foreign governments and official institutions $0
    Other loans $69
    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

    Rocky Mountain Bank had $380,194,000 of loans outstanding in 2021. $256,371,000 of loans were in real estate loans. $30,257,000 of loans were in development loans. $13,003,000 of loans were in multifamily mortgage loans. $41,209,000 of loans were in 1-4 family mortgage loans. $27,400,000 of loans were in farm loans. $405,000 of loans were in credit card loans. $1,480,000 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 136 $31,685 $232,978
    Nonfarm, nonresidential loans - <$100k 37 $1,220 $32,973
    Nonfarm, nonresidential loans - $100-250k 36 $4,218 $117,167
    Nonfarm, nonresidential loans - $250k-1MM 63 $26,247 $416,619
    Commercial & Industrial, US addressed loans - <$1MM 419 $27,908 $66,606
    Commercial & Industrial, US addressed loans - <$100k 284 $4,600 $16,197
    Commercial & Industrial, US addressed loans - $100-250k 59 $3,403 $57,678
    Commercial & Industrial, US addressed loans - $250k-1MM 76 $19,905 $261,908
    Farmland loans - <$1MM 84 $12,007 $142,940
    Farmland loans - <$100k 19 $666 $35,053
    Farmland loans - $100-250k 41 $4,765 $116,220
    Farmland loans - $250k-1MM 24 $6,576 $274,000
    Agriculture operations loans - <$1MM 348 $16,370 $47,040
    Agriculture operations loans - <$100k 255 $5,545 $21,745
    Agriculture operations loans - $100-250k 61 $5,046 $82,721
    Agriculture operations loans - $250k-1MM 32 $5,779 $180,594