Two Rivers Bank & Trust Mortgage Rates, Fees & Info

Burlington, IA

LEI: 549300TN34NXD7N44O04

Tax ID: 42-0162020

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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, Iowa City, Des Moines, Fort Madison, and Davenport among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Two Rivers Bank & Trust 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.

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Originations

286

Origination Dollar Volume (All Markets)

$37,240,000

Employee count

157

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)	148	$12,600,000	$85,135	$0	0.00%
IOWA CITY, IA (FHA\|USDA\|VA)	15	$4,915,000	$327,667	$0	0.00%
DES MOINES-WEST DES MOINES, IA (FHA\|USDA\|VA)	22	$4,910,000	$223,182	$0	0.00%
Fort Madison-Keokuk, IA-IL-MO (FHA\|USDA\|VA)	50	$4,690,000	$93,800	$0	0.00%
Outside of Metro Areas	36	$4,140,000	$115,000	$0	0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA\|USDA\|VA)	5	$3,755,000	$751,000	$0	0.00%
Fairfield, IA (FHA\|USDA\|VA)	4	$560,000	$140,000	$0	0.00%
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	1	$505,000	$505,000	$0	0.00%
RENO, NV (FHA\|USDA\|VA)	1	$455,000	$455,000	$0	0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	0.00%
Fort Dodge, IA (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%
CEDAR RAPIDS, IA (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	0.00%
Clinton, IA (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	0.00%

Two Rivers Bank & Trust's top markets include Burlington, Iowa City, Des Moines, Fort Madison, and Davenport among others.

Their top states include:

Iowa (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Nevada (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.

Hills Bank and Trust Company
Similarity Rank: 130

FINANCIAL PLUS Credit Union
Similarity Rank: 172

LINN AREA
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GREATER IOWA CREDIT UNION
Similarity Rank: 204

RUHL MORTGAGE, LLC
Similarity Rank: 208

CBI Bank & Trust
Similarity Rank: 264

United Community Bank
Similarity Rank: 272

Raccoon Valley Bank
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Fidelity Bank
Similarity Rank: 330

RESIDENTIAL MORTGAGE NETWORK, INC.
Similarity Rank: 378

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	286	$37,240,000	$130,210	$0	0.00%

For 2020, Two Rivers Bank & Trust's most frequently originated type of loan was Conventional, with 286 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	158	$24,450,000	$154,747	$0	0.00%
Refi	79	$10,385,000	$131,456	$0	0.00%
Home Improvement	30	$1,340,000	$44,667	$0	0.00%
Other	19	$1,065,000	$56,053	$0	0.00%

For 2020, Two Rivers Bank & Trust's most frequently cited loan purpose was Home Purchase, with 158 originations. The 2nd most popular reason was Refi, with 79 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	286	$37,240,000	$130,210	$0	0.00%

For 2020, Two Rivers Bank & Trust's most frequently cited loan duration was Other, with 286 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	172	$8,720,000	$50,698	$0	0.00%
$100k-200k	70	$10,460,000	$149,429	$0	0.00%
$200k-400k	34	$9,690,000	$285,000	$0	0.00%
$400k-600k	7	$3,185,000	$455,000	$0	0.00%
$1MM+	2	$4,560,000	$2,280,000	$0	0.00%
$600k-1MM	1	$625,000	$625,000	$0	0.00%

2020 saw Two Rivers Bank & Trust place emphasis on $100,000 or less loans with 172 originations, totaling $8,720,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	77	$4,905,000	$63,701	$0	0.00%
$50k-75k	74	$6,790,000	$91,757	$0	0.00%
$75k-100k	51	$6,765,000	$132,647	$0	0.00%
$100k-150k	30	$4,520,000	$150,667	$0	0.00%
$150k-250k	15	$3,815,000	$254,333	$0	0.00%
$250k+	8	$3,500,000	$437,500	$0	0.00%

Two Rivers Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 77 originations. The second most popular income band? $50k-75k, with 74 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	286	$37,240,000	$130,210	$0	0.00%

Two Rivers Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 286 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	250	$28,980,000	$115,920	$0	0.00%
Not applicable	18	$6,090,000	$338,333	$0	0.00%
Not provided	9	$1,035,000	$115,000	$0	0.00%
Black	6	$540,000	$90,000	$0	0.00%
Asian	2	$470,000	$235,000	$0	0.00%
American Indian	1	$125,000	$125,000	$0	0.00%

Approval Rates

Total approvals of all applications
84.58%

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

Pick Rate

Approvals leading to origination
73.43%

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

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	286	$37,240,000	$130,210

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	3	$3,985,000	$1,328,333
Single Family (1-4 Units):Manufactured	14	$1,180,000	$84,286
Single Family (1-4 Units):Site-Built	269	$32,075,000	$119,238

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	$68,005
Two Rivers Bank & Trust	102 Ne Trilein Drive Ankeny, IA 50021	Full Service B&M	$25,403
Two Rivers Bank & Trust	105 Main Street Mediapolis, IA 52637	Full Service B&M	$44,415
Two Rivers Bank & Trust	1066 South Gear Avenue W. Burlington, IA 52601	Full Service B&M	$44,186
Two Rivers Bank & Trust	115 Boulevard Road Keokuk, IA 52632	Full Service B&M	$22,369
Two Rivers Bank & Trust	222 North Main Street Burlington, IA 52601	Full Service B&M	$356,525
Two Rivers Bank & Trust	3025 Ingersoll Avenue Des Moines, IA 50312	Full Service B&M	$30,316
Two Rivers Bank & Trust	320 Concert Street Keokuk, IA 52632	Full Service B&M	$54,738
Two Rivers Bank & Trust	3292 Ridgeway Drive, Suite A Coralville, IA 52241	Full Service B&M	$22,853
Two Rivers Bank & Trust	4320 Westown Parkway Ste 100 West Des Moines, IA 50266	Full Service B&M	$35,309
Two Rivers Bank & Trust	551 Westbury Road Iowa City, IA 52245	Full Service B&M	$20,888
Two Rivers Bank & Trust	909 Roosevelt Avenue Burlington, IA 52601	Full Service B&M	$60,195

For 2020, Two Rivers Bank & Trust had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$35,519
Net interest income	$31,566
Total noninterest income	$10,202
Gross Fiduciary activities income	$2,201
Service charges on deposit accounts	$1,187
Trading account gains and fees	$0
Additional Noninterest Income	$6,814
Pre-tax net operating income	$12,026
Securities gains (or losses, -)	$-3
Income before extraordinary items	$9,286
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$9,286
Minority interest net income	$0
Net income	$9,286
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$9,288

Two Rivers Bank & Trust's gross interest income from loans was $35,519,000.
Two Rivers Bank & Trust's net interest income from loans was $31,566,000.
Two Rivers Bank & Trust's fee based income from loans was $1,187,000.
Two Rivers Bank & Trust's net income from loans was $9,286,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,953
Provision for credit losses	$3,050
Total noninterest expense	$26,692
Salaries and employee benefits	$13,147
Premises and equipment expense	$3,462
Additional noninterest expense	$10,083
Applicable income taxes	$2,737
Net charge-offs	$94
Cash dividends	$1,244

Two Rivers Bank & Trust's interest expense for loans was $3,953,000.
Two Rivers Bank & Trust's payroll and benefits expense were $13,147,000.
Two Rivers Bank & Trust's property, plant and equipment expenses $3,462,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	2.0%
Construction & Land Development loans	4.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	13.0%
1-4 family residential loans	1.0%
HELOC loans	0.0%
All other family	1.0%
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	$848,679
Deposits held in domestic offices	$848,679
Deposits by Individuals, partnerships, and corporations	$739,732
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$106,156
Deposits by Commercial banks and other depository institutions in U.S.	$2,791
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$191,708
Demand deposits	$148,082
Nontransaction accounts	$656,971
Money market deposit accounts (MMDAs)	$87,636
Other savings deposits (excluding MMDAs)	$490,106
Total time deposits	$79,228
Total time and savings deposits	$700,597
Noninterest-bearing deposits	$194,472
Interest-bearing deposits	$654,207
Retail deposits	$836,163
IRAs and Keogh plan accounts	$11,463
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,006,186
Cash & Balances due from depository institutions	$135,858
Interest-bearing balances	$124,232
Total securities	$108,526
Federal funds sold & reverse repurchase	$286
Net loans and leases	$717,838
Loan and leases loss allowance	$10,760
Trading account assets	$0
Bank premises and fixed assets	$14,929
Other real estate owned	$24
Goodwill and other intangibles	$8,897
All other assets	$19,828

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,006,186
Total Liabilities	$910,483
Total deposits	$848,679
Interest-bearing deposits	$654,207
Deposits held in domestic offices	$848,679
% insured (estimated)	$77
Federal funds purchased and repurchase agreements	$33,125
Trading liabilities	$0
Other borrowed funds	$25,092
Subordinated debt	$0
All other liabilities	$3,587

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$717,838
Loan and leases loss allowance	$10,760
Total loans and leases (domestic)	$728,598
All real estate loans	$513,565
Real estate loans in domestic offices	$513,565
Construction and development loans	$90,265
Residential 1-4 family construction	$8,505
Other construction, all land development and other land	$81,760
Loans secured by nonfarm nonresidential properties	$223,332
Nonfarm nonresidential secured by owner-occupied properties	$72,977
Commercial real estate & other non-farm, non-residential	$150,355
Multifamily residential real estate	$34,467
1-4 family residential loans	$142,293
Farmland loans	$23,208
Loans held in foreign offices	$0
Farm loans	$12,573
Commercial and industrial loans	$190,798
To non-U.S. addressees	$0
Loans to individuals	$8,914
Credit card loans	$0
Related Plans	$207
Consumer Auto Loans	$4,453
Other loans to individuals	$4,254
All other loans & leases	$3,887
Loans to foreign governments and official institutions	$0
Other loans	$76
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	$3,862
Non 1-4 family restructured loans & leases	$3,862
Total loans and leases (foreign)	$0

Two Rivers Bank & Trust had $717,838,000 of loans outstanding in 2020. $513,565,000 of loans were in real estate loans. $90,265,000 of loans were in development loans. $34,467,000 of loans were in multifamily mortgage loans. $142,293,000 of loans were in 1-4 family mortgage loans. $12,573,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,453,000 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	244	$60,177	$246,627
Nonfarm, nonresidential loans - <$100k	57	$2,862	$50,211
Nonfarm, nonresidential loans - $100-250k	67	$9,491	$141,657
Nonfarm, nonresidential loans - $250k-1MM	120	$47,824	$398,533
Commercial & Industrial, US addressed loans - <$1MM	926	$88,212	$95,261
Commercial & Industrial, US addressed loans - <$100k	564	$15,433	$27,363
Commercial & Industrial, US addressed loans - $100-250k	188	$19,788	$105,255
Commercial & Industrial, US addressed loans - $250k-1MM	174	$52,991	$304,546
Farmland loans - <$1MM	104	$11,053	$106,279
Farmland loans - <$100k	48	$1,667	$34,729
Farmland loans - $100-250k	37	$5,024	$135,784
Farmland loans - $250k-1MM	19	$4,362	$229,579
Agriculture operations loans - <$1MM	205	$9,484	$46,263
Agriculture operations loans - <$100k	152	$3,269	$21,507
Agriculture operations loans - $100-250k	41	$3,745	$91,341
Agriculture operations loans - $250k-1MM	12	$2,470	$205,833