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 14 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.

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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Originations

335

Origination Dollar Volume (All Markets)

$58,445,000

Employee count

153

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)	183	$21,165,000	$115,656	$0	0.00%
IOWA CITY, IA (FHA\|USDA\|VA)	20	$7,970,000	$398,500	$0	0.00%
DES MOINES-WEST DES MOINES, IA (FHA\|USDA\|VA)	36	$7,940,000	$220,556	$0	0.00%
Fort Madison-Keokuk, IA-IL-MO (FHA\|USDA\|VA)	47	$4,865,000	$103,511	$0	0.00%
Outside of Metro Areas	33	$4,855,000	$147,121	$0	0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA\|USDA\|VA)	4	$4,230,000	$1,057,500	$0	0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	3	$3,285,000	$1,095,000	$0	0.00%
RENO, NV (FHA\|USDA\|VA)	3	$2,855,000	$951,667	$0	0.00%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$535,000	$535,000	$0	0.00%
DUBUQUE, IA (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	0.00%
Whitewater, WI (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	0.00%
CEDAR RAPIDS, IA (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	0.00%
Marshalltown, IA (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	0.00%
Macomb, IL (FHA\|USDA\|VA)	1	$35,000	$35,000	$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)

Arizona (FHA|USDA|VA)

Nevada (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Illinois (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.

Bank
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GREATER IOWA CREDIT UNION
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RUHL MORTGAGE, LLC
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Associated Bank
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LINN AREA
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Fidelity Bank
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RESIDENTIAL MORTGAGE NETWORK, INC.
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United Community Bank
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	335	$58,445,000	$174,463	$0	0.00%

For 2021, Two Rivers Bank & Trust's most frequently originated type of loan was Conventional, with 335 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	191	$30,825,000	$161,387	$0	0.00%
Refi	87	$24,465,000	$281,207	$0	0.00%
Home Improvement	32	$1,910,000	$59,688	$0	0.00%
Other	25	$1,245,000	$49,800	$0	0.00%

For 2021, Two Rivers Bank & Trust's most frequently cited loan purpose was Home Purchase, with 191 originations. The 2nd most popular reason was Refi, with 87 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	335	$58,445,000	$174,463	$0	0.00%

For 2021, Two Rivers Bank & Trust's most frequently cited loan duration was Other, with 335 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	162	$7,650,000	$47,222	$0	0.00%
$100k-200k	80	$11,510,000	$143,875	$0	0.00%
$200k-400k	71	$18,765,000	$264,296	$0	0.00%
$400k-600k	13	$6,655,000	$511,923	$0	0.00%
$1MM+	6	$11,320,000	$1,886,667	$0	0.00%
$600k-1MM	3	$2,545,000	$848,333	$0	0.00%

2021 saw Two Rivers Bank & Trust place emphasis on $100,000 or less loans with 162 originations, totaling $7,650,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	81	$5,015,000	$61,914	$0	0.00%
$50k-75k	64	$6,990,000	$109,219	$0	0.00%
$100k-150k	50	$8,710,000	$174,200	$0	0.00%
$75k-100k	50	$6,300,000	$126,000	$0	0.00%
$150k-250k	36	$7,730,000	$214,722	$0	0.00%
$250k+	20	$8,830,000	$441,500	$0	0.00%

Two Rivers Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 81 originations. The second most popular income band? $50k-75k, with 64 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	335	$58,445,000	$174,463	$0	0.00%

Two Rivers Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 335 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	286	$38,580,000	$134,895	$0	0.00%
Not applicable	24	$13,320,000	$555,000	$0	0.00%
Not provided	17	$3,505,000	$206,176	$0	0.00%
Asian	3	$2,325,000	$775,000	$0	0.00%
Black	4	$530,000	$132,500	$0	0.00%
American Indian	1	$185,000	$185,000	$0	0.00%

Approval Rates

Total approvals of all applications
89.30%

Two Rivers Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
77.91%

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

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	335	$58,445,000	$174,463

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	335	$58,445,000	$174,463

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	$74,510
Two Rivers Bank & Trust	102 Ne Trilein Drive Ankeny, IA 50021	Full Service B&M	$28,056
Two Rivers Bank & Trust	105 Main Street Mediapolis, IA 52637	Full Service B&M	$57,393
Two Rivers Bank & Trust	1066 South Gear Avenue W. Burlington, IA 52601	Full Service B&M	$52,984
Two Rivers Bank & Trust	115 Boulevard Road Keokuk, IA 52632	Full Service B&M	$23,489
Two Rivers Bank & Trust	222 North Main Street Burlington, IA 52601	Full Service B&M	$373,522
Two Rivers Bank & Trust	3025 Ingersoll Avenue Des Moines, IA 50312	Full Service B&M	$33,365
Two Rivers Bank & Trust	320 Concert Street Keokuk, IA 52632	Full Service B&M	$61,757
Two Rivers Bank & Trust	3292 Ridgeway Drive, Suite A Coralville, IA 52241	Full Service B&M	$17,451
Two Rivers Bank & Trust	4320 Westown Parkway Ste 100 West Des Moines, IA 50266	Full Service B&M	$37,756
Two Rivers Bank & Trust	551 Westbury Road Iowa City, IA 52245	Full Service B&M	$21,573
Two Rivers Bank & Trust	909 Roosevelt Avenue Burlington, IA 52601	Full Service B&M	$64,194

For 2021, Two Rivers Bank & Trust had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$32,556
Net interest income	$30,681
Total noninterest income	$10,171
Gross Fiduciary activities income	$2,640
Service charges on deposit accounts	$1,304
Trading account gains and fees	$0
Additional Noninterest Income	$6,227
Pre-tax net operating income	$12,588
Securities gains (or losses, -)	$36
Income before extraordinary items	$10,060
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$10,060
Minority interest net income	$0
Net income	$10,060
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$10,031

Two Rivers Bank & Trust's gross interest income from loans was $32,556,000.
Two Rivers Bank & Trust's net interest income from loans was $30,681,000.
Two Rivers Bank & Trust's fee based income from loans was $1,304,000.
Two Rivers Bank & Trust's net income from loans was $10,060,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,875
Provision for credit losses	$510
Total noninterest expense	$27,754
Salaries and employee benefits	$12,842
Premises and equipment expense	$3,167
Additional noninterest expense	$11,745
Applicable income taxes	$2,564
Net charge-offs	$1,386
Cash dividends	$0

Two Rivers Bank & Trust's interest expense for loans was $1,875,000.
Two Rivers Bank & Trust's payroll and benefits expense were $12,842,000.
Two Rivers Bank & Trust's property, plant and equipment expenses $3,167,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	12.0%
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	$848,213
Deposits held in domestic offices	$848,213
Deposits by Individuals, partnerships, and corporations	$748,704
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$98,029
Deposits by Commercial banks and other depository institutions in U.S.	$1,480
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$144,316
Demand deposits	$101,568
Nontransaction accounts	$703,897
Money market deposit accounts (MMDAs)	$76,274
Other savings deposits (excluding MMDAs)	$565,152
Total time deposits	$62,471
Total time and savings deposits	$746,645
Noninterest-bearing deposits	$188,612
Interest-bearing deposits	$659,601
Retail deposits	$837,308
IRAs and Keogh plan accounts	$9,495
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$981,440
Cash & Balances due from depository institutions	$137,008
Interest-bearing balances	$129,935
Total securities	$173,503
Federal funds sold & reverse repurchase	$579
Net loans and leases	$628,609
Loan and leases loss allowance	$9,884
Trading account assets	$0
Bank premises and fixed assets	$14,359
Other real estate owned	$26
Goodwill and other intangibles	$8,689
All other assets	$18,667

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$981,440
Total Liabilities	$878,264
Total deposits	$848,213
Interest-bearing deposits	$659,601
Deposits held in domestic offices	$848,213
% insured (estimated)	$76
Federal funds purchased and repurchase agreements	$26,937
Trading liabilities	$0
Other borrowed funds	$6
Subordinated debt	$0
All other liabilities	$3,108

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$628,609
Loan and leases loss allowance	$9,884
Total loans and leases (domestic)	$638,493
All real estate loans	$507,139
Real estate loans in domestic offices	$507,139
Construction and development loans	$81,239
Residential 1-4 family construction	$7,183
Other construction, all land development and other land	$74,056
Loans secured by nonfarm nonresidential properties	$236,395
Nonfarm nonresidential secured by owner-occupied properties	$87,649
Commercial real estate & other non-farm, non-residential	$148,746
Multifamily residential real estate	$29,939
1-4 family residential loans	$141,317
Farmland loans	$18,249
Loans held in foreign offices	$0
Farm loans	$12,660
Commercial and industrial loans	$105,902
To non-U.S. addressees	$0
Loans to individuals	$9,250
Credit card loans	$0
Related Plans	$320
Consumer Auto Loans	$4,284
Other loans to individuals	$4,646
All other loans & leases	$3,620
Loans to foreign governments and official institutions	$0
Other loans	$139
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 $628,609,000 of loans outstanding in 2021. $507,139,000 of loans were in real estate loans. $81,239,000 of loans were in development loans. $29,939,000 of loans were in multifamily mortgage loans. $141,317,000 of loans were in 1-4 family mortgage loans. $12,660,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,284,000 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	252	$60,212	$238,937
Nonfarm, nonresidential loans - <$100k	60	$2,831	$47,183
Nonfarm, nonresidential loans - $100-250k	66	$8,835	$133,864
Nonfarm, nonresidential loans - $250k-1MM	126	$48,546	$385,286
Commercial & Industrial, US addressed loans - <$1MM	534	$44,643	$83,601
Commercial & Industrial, US addressed loans - <$100k	307	$6,752	$21,993
Commercial & Industrial, US addressed loans - $100-250k	118	$10,471	$88,737
Commercial & Industrial, US addressed loans - $250k-1MM	109	$27,420	$251,560
Farmland loans - <$1MM	84	$8,677	$103,298
Farmland loans - <$100k	35	$1,096	$31,314
Farmland loans - $100-250k	36	$4,829	$134,139
Farmland loans - $250k-1MM	13	$2,752	$211,692
Agriculture operations loans - <$1MM	181	$8,273	$45,707
Agriculture operations loans - <$100k	129	$2,624	$20,341
Agriculture operations loans - $100-250k	42	$3,886	$92,524
Agriculture operations loans - $250k-1MM	10	$1,763	$176,300