Two Rivers Bank & Trust Mortgage Rates, Fees & Info

Burlington, IA

LEI: 549300TN34NXD7N44O04

Tax ID: 42-0162020

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Mortgage Data

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

    Two Rivers Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. Two Rivers Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Burlington, Des Moines, Iowa City, Clinton, and Davenport among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Two Rivers 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. Two Rivers Bank & Trust is typically a low 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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    Originations

    334

    Origination Dollar Volume (All Markets)

    $39,320,000

    Employee count

    157 Show all (5) awards

    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
    Burlington, IA-IL (FHA|USDA|VA) 170 $15,940,000 $93,765 $663 5.02%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 41 $6,315,000 $154,024 $839 5.06%
    Outside of Metro Areas 64 $6,020,000 $94,063 $598 5.01%
    IOWA CITY, IA (FHA|USDA|VA) 27 $4,595,000 $170,185 $797 4.78%
    Clinton, IA (FHA|USDA|VA) 2 $2,170,000 $1,085,000 $0 5.00%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 10 $1,870,000 $187,000 $0 5.49%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 9 $775,000 $86,111 $670 4.56%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 4 $690,000 $172,500 $1,499 5.09%
    Oskaloosa, IA (FHA|USDA|VA) 1 $185,000 $185,000 $2,259 4.13%
    Ottumwa, IA (FHA|USDA|VA) 1 $175,000 $175,000 $2,034 5.00%
    Marshalltown, IA (FHA|USDA|VA) 1 $135,000 $135,000 $779 4.49%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $125,000 $125,000 $589 4.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.75%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $105,000 $105,000 $1,683 4.38%
    Fairfield, IA (FHA|USDA|VA) 1 $95,000 $95,000 $1,566 4.63%
    Two Rivers Bank & Trust's top markets include Burlington, Des Moines, Iowa City, Clinton, and Davenport among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Two Rivers Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Charter Bank
    Similarity Rank: 36
    Hills Bank and Trust Company
    Similarity Rank: 65
    Raccoon Valley Bank
    Similarity Rank: 96
    United Community Bank
    Similarity Rank: 132
    Guthrie County State Bank
    Similarity Rank: 166
    Fortress Bank
    Similarity Rank: 180
    Community Choice Credit Union
    Similarity Rank: 187
    CBI Bank & Trust
    Similarity Rank: 285
    GREATER IOWA CREDIT UNION
    Similarity Rank: 286
    Luana Savings Bank
    Similarity Rank: 289

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 334 $39,320,000 $117,725 $709 4.99%

    For 2018, Two Rivers Bank & Trust's most frequently originated type of loan was Conventional, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 160 $26,270,000 $164,188 $1,038 4.96%
    Refi 76 $8,930,000 $117,500 $663 5.13%
    Home Improvement 63 $2,305,000 $36,587 $292 4.94%
    Other 35 $1,815,000 $51,857 $316 4.95%

    For 2018, Two Rivers Bank & Trust's most frequently cited loan purpose was Home Purchase, with 160 originations. The 2nd most popular reason was Refi, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 132 $8,530,000 $64,621 $296 4.98%
    30 Year 104 $17,940,000 $172,500 $1,237 4.81%
    5 Year 49 $6,535,000 $133,367 $201 5.53%
    1 Year 33 $4,105,000 $124,394 $507 4.82%
    15 Year 6 $750,000 $125,000 $1,034 4.87%
    3 Year 5 $245,000 $49,000 $204 5.60%
    20 Year 3 $565,000 $188,333 $1,263 4.37%
    10 Year 2 $650,000 $325,000 $196 5.14%

    For 2018, Two Rivers Bank & Trust's most frequently cited loan duration was Other, with 132 originations. The 2nd most popular length was 30 Year, with 104 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 265 $28,115,000 $106,094
    $1k-2k 1 $175,000 $175,000

    Two Rivers Bank & Trust's average total fees were $1,237, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 265 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 201 $26,175,000 $130,224
    5-6% 91 $9,485,000 $104,231
    3-4% 28 $2,960,000 $105,714
    6-7% 11 $575,000 $52,273
    Over 8% 3 $125,000 $41,667

    During 2018, Two Rivers Bank & Trust's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 201 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 210 $9,530,000 $45,381 $463 5.08%
    $100k-200k 77 $11,065,000 $143,701 $1,097 4.86%
    $200k-400k 33 $8,985,000 $272,273 $1,094 4.83%
    $400k-600k 9 $4,345,000 $482,778 $1,150 4.69%
    $600k-1MM 3 $1,905,000 $635,000 $2,362 5.35%
    $1MM+ 2 $3,490,000 $1,745,000 $0 4.58%

    2018 saw Two Rivers Bank & Trust place emphasis on $100,000 or less loans with 210 originations, totaling $9,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 74 $4,790,000 $64,730 $769 5.01%
    $50k-75k 61 $4,895,000 $80,246 $671 4.80%
    $75k-100k 59 $5,675,000 $96,186 $664 4.91%
    $100k-150k 49 $5,825,000 $118,878 $629 4.77%
    $150k-250k 31 $5,905,000 $190,484 $836 5.01%
    $250k+ 9 $2,535,000 $281,667 $1,115 4.71%

    Two Rivers Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 74 originations. The second most popular income band? $50k-75k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 94 $9,280,000 $98,723 $651 4.76%
    30-36% 63 $6,365,000 $101,032 $699 4.83%
    <20% 42 $3,900,000 $92,857 $668 4.77%
    39% 19 $1,845,000 $97,105 $673 4.89%
    37% 10 $1,070,000 $107,000 $439 4.83%
    38% 9 $1,275,000 $141,667 $1,092 5.54%
    36% 8 $1,410,000 $176,250 $857 4.71%
    40% 6 $920,000 $153,333 $947 5.10%
    >60% 3 $885,000 $295,000 $1,644 4.71%
    41% 3 $405,000 $135,000 $1,192 4.88%
    43% 3 $375,000 $125,000 $795 5.04%
    50-60% 2 $290,000 $145,000 $1,148 4.56%
    46% 2 $70,000 $35,000 $222 4.99%
    48% 1 $125,000 $125,000 $1,533 4.38%
    49% 1 $75,000 $75,000 $213 4.99%

    Two Rivers Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 94 originations. The next most common DTI ratio? 30-36%, with 63 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 282 $27,820,000 $98,652 $700 4.91%
    Not applicable 35 $8,635,000 $246,714 $0 5.54%
    Asian 6 $1,120,000 $186,667 $1,165 5.59%
    Black 6 $1,030,000 $171,667 $816 5.21%
    Not provided 4 $650,000 $162,500 $947 4.91%
    Asian Indian 1 $65,000 $65,000 $157 3.99%

    Approval Rates

    Total approvals of all applications
    91.26%

    Two Rivers Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.44%

    Two Rivers Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 334 $39,320,000 $117,725

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $45,000 $15,000
    Multifamily:Site-Built 15 $7,345,000 $489,667
    Single Family (1-4 Units):Manufactured 7 $665,000 $95,000
    Single Family (1-4 Units):Site-Built 309 $31,265,000 $101,181

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 43 $4,695,000 $109,186 $402 4.95%
    40-60% 43 $4,785,000 $111,279 $712 5.02%
    60-80% 84 $12,820,000 $152,619 $999 5.08%
    80-100% 84 $13,550,000 $161,310 $1,074 4.87%
    Over 100% 1 $655,000 $655,000 $2,362 5.00%
    Under 20% 78 $2,720,000 $34,872 $219 5.02%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Two Rivers Bank & Trust 100 West Washington Street Mount Pleasant, IA 52641 Full Service B&M $61,116
    Two Rivers Bank & Trust 105 Main Street Mediapolis, IA 52637 Full Service B&M $39,367
    Two Rivers Bank & Trust 1066 South Gear Avenue W. Burlington, IA 52601 Full Service B&M $43,428
    Two Rivers Bank & Trust 222 North Main Street Burlington, IA 52601 Full Service B&M $285,729
    Two Rivers Bank & Trust 3292 Ridgeway Drive, Suite A Coralville, IA 52241 Full Service B&M $61,481
    Two Rivers Bank & Trust 4320 Westown Parkway Ste 100 West Des Moines, IA 50266 Full Service B&M $23,061
    Two Rivers Bank & Trust 4500 Merle Hay Road Des Moines, IA 50310 Full Service B&M $28,849
    Two Rivers Bank & Trust 4500 Westown Parkway West Des Moines, IA 50266 Full Service B&M $12,722
    Two Rivers Bank & Trust 503 West Main Street New London, IA 52645 Full Service B&M $8,210
    Two Rivers Bank & Trust 551 Westbury Road Iowa City, IA 52245 Full Service B&M $28,080
    Two Rivers Bank & Trust 802 Se Oralabor Road, Suite 126 Ankeny, IA 50021 Full Service B&M $23,630
    Two Rivers Bank & Trust 909 Roosevelt Avenue Burlington, IA 52601 Full Service B&M $49,725

    For 2018, Two Rivers Bank & Trust had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,311
    Net interest income $27,438
    Total noninterest income $8,797
    Gross Fiduciary activities income $1,835
    Service charges on deposit accounts $913
    Trading account gains and fees $0
    Additional Noninterest Income $6,049
    Pre-tax net operating income $12,120
    Securities gains (or losses, -) $-33
    Income before extraordinary items $9,037
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,037
    Minority interest net income $0
    Net income $9,037
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,063

    Two Rivers Bank & Trust's gross interest income from loans was $34,311,000.
    Two Rivers Bank & Trust's net interest income from loans was $27,438,000.
    Two Rivers Bank & Trust's fee based income from loans was $913,000.
    Two Rivers Bank & Trust's net income from loans was $9,037,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,873
    Provision for credit losses $900
    Total noninterest expense $23,215
    Salaries and employee benefits $12,422
    Premises and equipment expense $2,567
    Additional noninterest expense $8,226
    Applicable income taxes $3,050
    Net charge-offs $22
    Cash dividends $1,430

    Two Rivers Bank & Trust's interest expense for loans was $6,873,000.
    Two Rivers Bank & Trust's payroll and benefits expense were $12,422,000.
    Two Rivers Bank & Trust's property, plant and equipment expenses $2,567,000.

    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 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 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $674,083
    Deposits held in domestic offices $674,083
    Deposits by Individuals, partnerships, and corporations $541,518
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $119,931
    Deposits by Commercial banks and other depository institutions in U.S. $12,634
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $90,647
    Demand deposits $29,297
    Nontransaction accounts $583,436
    Money market deposit accounts (MMDAs) $152,584
    Other savings deposits (excluding MMDAs) $319,153
    Total time deposits $111,699
    Total time and savings deposits $644,786
    Noninterest-bearing deposits $117,032
    Interest-bearing deposits $557,051
    Retail deposits $647,966
    IRAs and Keogh plan accounts $8,598
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $829,928
    Cash & Balances due from depository institutions $15,069
    Interest-bearing balances $2,973
    Total securities $112,464
    Federal funds sold & reverse repurchase $258
    Net loans and leases $664,402
    Loan and leases loss allowance $8,343
    Trading account assets $0
    Bank premises and fixed assets $14,107
    Other real estate owned $16
    Goodwill and other intangibles $4,574
    All other assets $19,038

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $829,928
    Total Liabilities $750,330
    Total deposits $674,083
    Interest-bearing deposits $557,051
    Deposits held in domestic offices $674,083
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $63,517
    Trading liabilities $0
    Other borrowed funds $10,360
    Subordinated debt $0
    All other liabilities $2,370

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $664,402
    Loan and leases loss allowance $8,343
    Total loans and leases (domestic) $672,745
    All real estate loans $503,927
    Real estate loans in domestic offices $503,927
    Construction and development loans $84,582
    Residential 1-4 family construction $10,466
    Other construction, all land development and other land $74,116
    Loans secured by nonfarm nonresidential properties $187,667
    Nonfarm nonresidential secured by owner-occupied properties $60,642
    Commercial real estate & other non-farm, non-residential $127,025
    Multifamily residential real estate $53,808
    1-4 family residential loans $158,840
    Farmland loans $19,030
    Loans held in foreign offices $0
    Farm loans $18,603
    Commercial and industrial loans $136,277
    To non-U.S. addressees $0
    Loans to individuals $8,721
    Credit card loans $0
    Related Plans $254
    Consumer Auto Loans $4,044
    Other loans to individuals $4,423
    All other loans & leases $5,217
    Loans to foreign governments and official institutions $0
    Other loans $156
    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 $3,961
    Non 1-4 family restructured loans & leases $3,961
    Total loans and leases (foreign) $0

    Two Rivers Bank & Trust had $664,402,000 of loans outstanding in 2018. $503,927,000 of loans were in real estate loans. $84,582,000 of loans were in development loans. $53,808,000 of loans were in multifamily mortgage loans. $158,840,000 of loans were in 1-4 family mortgage loans. $18,603,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,044,000 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 216 $53,622 $248,250
    Nonfarm, nonresidential loans - <$100k 50 $2,644 $52,880
    Nonfarm, nonresidential loans - $100-250k 61 $9,132 $149,705
    Nonfarm, nonresidential loans - $250k-1MM 105 $41,846 $398,533
    Commercial & Industrial, US addressed loans - <$1MM 678 $70,055 $103,326
    Commercial & Industrial, US addressed loans - <$100k 378 $9,706 $25,677
    Commercial & Industrial, US addressed loans - $100-250k 139 $14,363 $103,331
    Commercial & Industrial, US addressed loans - $250k-1MM 161 $45,986 $285,627
    Farmland loans - <$1MM 89 $9,638 $108,292
    Farmland loans - <$100k 41 $1,599 $39,000
    Farmland loans - $100-250k 32 $4,035 $126,094
    Farmland loans - $250k-1MM 16 $4,004 $250,250
    Agriculture operations loans - <$1MM 145 $7,339 $50,614
    Agriculture operations loans - <$100k 108 $2,512 $23,259
    Agriculture operations loans - $100-250k 26 $2,537 $97,577
    Agriculture operations loans - $250k-1MM 11 $2,290 $208,182