Bank 34 Mortgage Rates, Fees & Info
Alamogordo, NMLEI: 549300U708IU68HOIF33
Tax ID: 85-0142558
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Mortgage Data
Bank Data
Review & Overview
Bank 34 is a smaller bank specializing in Home Purchase and Refi loans. Bank 34 has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Alamogordo, Las Cruces, Silver City, and Ruidoso among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank 34 has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
25Origination Dollar Volume (All Markets)
$4,155,000Employee count
59Top 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 |
|---|---|---|---|---|---|
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 7 | $2,205,000 | $315,000 | $2,219 | 4.49% |
| Alamogordo, NM (FHA|USDA|VA) | 8 | $920,000 | $115,000 | $1,628 | 4.76% |
| LAS CRUCES, NM (FHA|USDA|VA) | 7 | $745,000 | $106,429 | $4,130 | 3.82% |
| Outside of Metro Areas | 1 | $125,000 | $125,000 | $1,166 | 3.50% |
| Silver City, NM (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,415 | 3.80% |
| Ruidoso, NM (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,453 | 4.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank 34 based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 24 | $4,080,000 | $170,000 | $2,232 | 4.35% |
| HELOC | 1 | $75,000 | $75,000 | n/a | 3.24% |
For 2020, Bank 34's most frequently originated type of loan was Conventional, with 24 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2020, Bank 34's most frequently cited loan purpose was Home Purchase, with 16 originations. The 2nd most popular reason was Refi, with 5 originations.
Loan Duration/Length
For 2020, Bank 34's most frequently cited loan duration was 5 Year, with 15 originations. The 2nd most popular length was 10 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 4 | $500,000 | $125,000 |
| $1k-2k | 3 | $285,000 | $95,000 |
| $2k-3k | 1 | $215,000 | $215,000 |
Bank 34's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 12 | $1,440,000 | $120,000 |
| 4-5% | 8 | $2,010,000 | $251,250 |
| 5-6% | 5 | $705,000 | $141,000 |
During 2020, Bank 34's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 12 originations.
Loan Sizing
2020 saw Bank 34 place emphasis on $100,000 or less loans with 12 originations, totaling $940,000 in origination value.
Applicant Income
Bank 34 lent most frequently to those with incomes in the $250k+ range, with 9 originations. The second most popular income band? $100k-150k, with 4 originations.
Applicant Debt to Income Ratio
Bank 34 lent most frequently to those with DTI ratios of >60%, with 7 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 22 | $3,220,000 | $146,364 | $2,232 | 4.30% |
| Not applicable | 3 | $935,000 | $311,667 | $0 | 4.33% |
Approval Rates
Total approvals of all applications93.10%
Bank 34 has an average approval rate.
Pick Rate
Approvals leading to origination92.00%
Bank 34 has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 25 | $4,155,000 | $166,200 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $85,000 | $85,000 |
| Single Family (1-4 Units):Site-Built | 24 | $4,070,000 | $169,583 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Bank 34 | 14155 North 83rd Avenue, Suite 117 Peoria, AZ 85381 | Full Service B&M | $34,168 |
| Bank 34 | 14850 N. Scottsdale Rd., Ste 100 Scottsdale, AZ 85254 | Full Service B&M | $156,597 |
| Bank 34 | 220 N. Telshor Blvd. Las Cruces, NM 88011 | Full Service B&M | $56,364 |
| Bank 34 | 500 10th Street Alamogordo, NM 88310 | Full Service B&M | $85,463 |
For 2020, Bank 34 had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $19,702 |
| Net interest income | $15,914 |
| Total noninterest income | $897 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $132 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $765 |
| Pre-tax net operating income | $2,374 |
| Securities gains (or losses, -) | $10 |
| Income before extraordinary items | $1,855 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,855 |
| Minority interest net income | $0 |
| Net income | $1,855 |
| Sale, conversion, retirement of capital stock, net | $413 |
| Net operating income | $1,847 |
Bank 34's gross interest income from loans was $19,702,000.
Bank 34's net interest income from loans was $15,914,000.
Bank 34's fee based income from loans was $132,000.
Bank 34's net income from loans was $1,855,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,788 |
| Provision for credit losses | $1,944 |
| Total noninterest expense | $12,493 |
| Salaries and employee benefits | $6,658 |
| Premises and equipment expense | $1,394 |
| Additional noninterest expense | $4,441 |
| Applicable income taxes | $529 |
| Net charge-offs | $45 |
| Cash dividends | $0 |
Bank 34's interest expense for loans was $3,788,000.
Bank 34's payroll and benefits expense were $6,658,000.
Bank 34's property, plant and equipment expenses $1,394,000.
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 | 1.0% |
| 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 | $371,632 |
| Deposits held in domestic offices | $371,632 |
| Deposits by Individuals, partnerships, and corporations | $343,729 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $24,683 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,220 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $114,314 |
| Demand deposits | $111,879 |
| Nontransaction accounts | $257,318 |
| Money market deposit accounts (MMDAs) | $171,610 |
| Other savings deposits (excluding MMDAs) | $11,229 |
| Total time deposits | $74,479 |
| Total time and savings deposits | $259,753 |
| Noninterest-bearing deposits | $74,183 |
| Interest-bearing deposits | $297,449 |
| Retail deposits | $345,276 |
| IRAs and Keogh plan accounts | $7,797 |
| Brokered deposits | $10,000 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $440,969 |
| Cash & Balances due from depository institutions | $8,202 |
| Interest-bearing balances | $4,637 |
| Total securities | $54,343 |
| Federal funds sold & reverse repurchase | $3,785 |
| Net loans and leases | $348,745 |
| Loan and leases loss allowance | $4,821 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $9,253 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $161 |
| All other assets | $16,480 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $440,969 |
| Total Liabilities | $397,686 |
| Total deposits | $371,632 |
| Interest-bearing deposits | $297,449 |
| Deposits held in domestic offices | $371,632 |
| % insured (estimated) | $65 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $20,640 |
| Subordinated debt | $0 |
| All other liabilities | $5,414 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $348,745 |
| Loan and leases loss allowance | $4,821 |
| Total loans and leases (domestic) | $353,566 |
| All real estate loans | $294,841 |
| Real estate loans in domestic offices | $294,841 |
| Construction and development loans | $21,789 |
| Residential 1-4 family construction | $1,217 |
| Other construction, all land development and other land | $20,572 |
| Loans secured by nonfarm nonresidential properties | $182,991 |
| Nonfarm nonresidential secured by owner-occupied properties | $46,435 |
| Commercial real estate & other non-farm, non-residential | $136,556 |
| Multifamily residential real estate | $42,363 |
| 1-4 family residential loans | $47,698 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $59,607 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $180 |
| Credit card loans | $0 |
| Related Plans | $6 |
| Consumer Auto Loans | $72 |
| Other loans to individuals | $102 |
| All other loans & leases | $0 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $57,077 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $68 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Bank 34 had $348,745,000 of loans outstanding in 2020. $294,841,000 of loans were in real estate loans. $21,789,000 of loans were in development loans. $42,363,000 of loans were in multifamily mortgage loans. $47,698,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $72,000 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 | 159 | $53,595 | $337,075 |
| Nonfarm, nonresidential loans - <$100k | 24 | $1,099 | $45,792 |
| Nonfarm, nonresidential loans - $100-250k | 33 | $4,304 | $130,424 |
| Nonfarm, nonresidential loans - $250k-1MM | 102 | $48,192 | $472,471 |
| Commercial & Industrial, US addressed loans - <$1MM | 341 | $39,900 | $117,009 |
| Commercial & Industrial, US addressed loans - <$100k | 193 | $6,518 | $33,772 |
| Commercial & Industrial, US addressed loans - $100-250k | 66 | $7,704 | $116,727 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 82 | $25,678 | $313,146 |