Core Bank Mortgage Rates, Fees & Info

Omaha, NE

LEI: 549300Y01XP7FO81MC08

Tax ID: 47-0804165

5 stars - out of 5 stars, based on 35 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Core Bank is a smaller bank specializing in Home Purchase and Refi loans. Core Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Omaha, Lawrence, Lincoln, Phoenix, and Kansas City among others. Core Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Core Bank is typically a low fee lendor.


Originations

1,217

Origination Dollar Volume (All Markets)

$360,445,000

Employee count

121 Show all (10) awards

Relative Rate

Core Bank's average 30 year fixed rate mortgage of loans were 2.88%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.27%.

Relative Fees

Core Bank's average total fees for a 30 year fixed rate mortgage are $3,041.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1,056 $308,930,000 $292,547 $2,617 2.92%
LAWRENCE, KS (FHA|USDA|VA) 3 $7,015,000 $2,338,333 $0 3.49%
LINCOLN, NE (FHA|USDA|VA) 24 $5,270,000 $219,583 $2,687 3.08%
Outside of Metro Areas 13 $3,095,000 $238,077 $3,717 2.83%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $2,420,000 $605,000 $4,392 2.88%
KANSAS CITY, MO-KS (FHA|USDA|VA) 8 $2,260,000 $282,500 $1,952 2.77%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4 $1,880,000 $470,000 $6,798 2.75%
Fremont, NE (FHA|USDA|VA) 8 $1,360,000 $170,000 $3,042 2.69%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 3 $1,225,000 $408,333 $7,185 2.17%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $1,155,000 $385,000 $4,259 2.87%
COLORADO SPRINGS, CO (FHA|USDA|VA) 4 $1,070,000 $267,500 $11,223 3.16%
Edwards, CO (FHA|USDA|VA) 1 $965,000 $965,000 $8,290 2.25%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $840,000 $420,000 $2,177 2.56%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 3 $835,000 $278,333 $11,740 2.42%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $730,000 $365,000 $3,440 2.69%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $730,000 $365,000 $4,307 2.93%
TULSA, OK (FHA|USDA|VA) 3 $715,000 $238,333 $3,870 3.75%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $680,000 $340,000 $3,307 3.12%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $680,000 $340,000 $2,006 2.38%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 2 $680,000 $340,000 $2,459 2.13%
MONTGOMERY, AL (FHA|USDA|VA) 2 $670,000 $335,000 $3,404 2.87%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $660,000 $330,000 $3,006 2.69%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $640,000 $320,000 $2,543 2.50%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $565,000 $188,333 $2,880 2.67%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $560,000 $280,000 $11,292 2.38%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $545,000 $545,000 $0 3.12%
HANFORD-CORCORAN, CA (FHA|USDA|VA) 1 $545,000 $545,000 $5,601 2.25%
VALLEJO, CA (FHA|USDA|VA) 1 $545,000 $545,000 $4,809 2.25%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $545,000 $545,000 $5,165 2.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $545,000 $545,000 $4,167 2.99%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $530,000 $265,000 $2,787 2.75%
Glenwood Springs, CO (FHA|USDA|VA) 1 $525,000 $525,000 $3,334 2.75%
JACKSONVILLE, NC (FHA|USDA|VA) 4 $500,000 $125,000 $5,800 3.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $485,000 $485,000 $2,044 2.75%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $465,000 $465,000 $10,392 2.00%
Sanford, NC (FHA|USDA|VA) 1 $465,000 $465,000 $10,780 2.25%
DECATUR, AL (FHA|USDA|VA) 4 $460,000 $115,000 $0 3.00%
Kearney, NE (FHA|USDA|VA) 1 $455,000 $455,000 $1,789 2.63%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 1 $385,000 $385,000 $9,159 2.50%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $385,000 $385,000 $4,008 3.00%
YUBA CITY, CA (FHA|USDA|VA) 1 $375,000 $375,000 $9,993 3.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $350,000 $175,000 $3,123 2.38%
FARGO, ND-MN (FHA|USDA|VA) 1 $335,000 $335,000 $2,481 3.12%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $325,000 $325,000 $3,806 3.00%
JACKSON, MS (FHA|USDA|VA) 1 $325,000 $325,000 $4,766 2.37%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $3,859 2.88%
FORT COLLINS, CO (FHA|USDA|VA) 1 $305,000 $305,000 $3,395 2.50%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,506 2.38%
PITTSBURGH, PA (FHA|USDA|VA) 1 $295,000 $295,000 $3,423 2.63%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $275,000 $275,000 $4,158 2.50%
Spirit Lake, IA (FHA|USDA|VA) 1 $255,000 $255,000 $0 3.50%
Meridian, MS (FHA|USDA|VA) 1 $255,000 $255,000 $12,061 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $235,000 $235,000 $4,215 3.25%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $235,000 $235,000 $1,665 2.63%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $225,000 $225,000 $2,629 3.13%
SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 1 $225,000 $225,000 $5,152 3.00%
FRESNO, CA (FHA|USDA|VA) 1 $225,000 $225,000 $0 2.88%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $220,000 $110,000 $0 3.00%
Mountain Home, ID (FHA|USDA|VA) 1 $215,000 $215,000 $2,972 2.50%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $2,607 2.38%
GRAND ISLAND, NE (FHA|USDA|VA) 1 $205,000 $205,000 $1,350 2.63%
Faribault-Northfield, MN (FHA|USDA|VA) 1 $195,000 $195,000 $2,611 3.13%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $195,000 $195,000 $1,616 2.87%
ALBANY, GA (FHA|USDA|VA) 1 $185,000 $185,000 $2,608 3.00%
JONESBORO, AR (FHA|USDA|VA) 1 $185,000 $185,000 $2,426 2.25%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $175,000 $175,000 $1,452 2.75%
Fort Leonard Wood, MO (FHA|USDA|VA) 1 $165,000 $165,000 $7,985 2.62%
WICHITA FALLS, TX (FHA|USDA|VA) 1 $135,000 $135,000 $4,829 2.75%
ROCHESTER, NY (FHA|USDA|VA) 1 $115,000 $115,000 $0 3.50%
Brainerd, MN (FHA|USDA|VA) 1 $115,000 $115,000 $2,000 2.63%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $95,000 $95,000 $3,306 2.75%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $95,000 $95,000 $1,859 2.63%
THE VILLAGES, FL (FHA|USDA|VA) 1 $65,000 $65,000 $2,232 3.63%

Core Bank's top markets include Omaha, Lawrence, Lincoln, Phoenix, and Kansas City among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 954 $283,010,000 $296,656 $2,041 3.02%
VA 207 $65,935,000 $318,527 $4,922 2.43%
FHA 56 $11,500,000 $205,357 $5,676 2.74%

For the 2021 period, Core Bank's most frequently originated loan type of loans were Conventional, with 954 originations. Their 2nd most popular type is VA, with 207 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 563 $164,825,000 $292,762 $3,691 2.99%
Refi 441 $142,155,000 $322,347 $1,911 2.74%
Cash Out Refi 206 $53,020,000 $257,379 $2,473 2.96%
Other 6 $290,000 $48,333 $282 4.63%
Home Improvement 1 $155,000 $155,000 $297 3.55%

For the 2021, Core Bank's most frequently cited loan purpose of loans were Home Purchase, with 563 originations. The 2nd most popular reason of loans were Refi, with 441 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 967 $271,855,000 $281,132 $3,041 2.88%
15 Year 136 $45,450,000 $334,191 $1,575 2.57%
10 Year 33 $14,385,000 $435,909 $475 2.65%
5 Year 28 $18,070,000 $645,357 $0 4.16%
Other 22 $4,100,000 $186,364 $1,371 3.84%
20 Year 18 $4,210,000 $233,889 $1,531 2.87%
1 Year 13 $2,375,000 $182,692 $0 4.44%

For the 2021, Core Bank's most frequently cited loan length of loans were 30 Year, with 967 originations. The 2nd most popular length of loans were 15 Year, with 136 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 885 $227,745,000 $257,339
$1k-2k 137 $55,345,000 $403,978
$2k-3k 19 $6,475,000 $340,789
$3k-4k 9 $3,555,000 $395,000
$5k+ 2 $960,000 $480,000

$3,041 of loans were Core Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 885 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 512 $134,200,000 $262,109
<2.5% 329 $92,245,000 $280,380
3-4% 303 $105,985,000 $349,785
4-5% 73 $28,015,000 $383,767

During 2021, Core Bank's average interest rate of loans were 2.88%, while their most frequently originated rate bucket of loans were 2.5-3%, with 512 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 581 $163,195,000 $280,886 $2,974 2.80%
$100k-200k 375 $57,835,000 $154,227 $2,171 3.05%
$400k-600k 128 $61,970,000 $484,141 $3,875 2.73%
$100,000 or less 90 $5,970,000 $66,333 $1,237 3.05%
$600k-1MM 24 $17,720,000 $738,333 $3,498 3.08%
$1MM+ 19 $53,755,000 $2,829,211 $3,991 3.47%

2021 saw Core Bank place emphasis on $200k-400k loans with 581 originations, totaling $163,195,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 270 $74,550,000 $276,111 $2,956 2.88%
$50k-75k 225 $42,575,000 $189,222 $2,978 2.84%
$75k-100k 199 $45,495,000 $228,618 $2,911 2.82%
$150k-250k 191 $63,675,000 $333,377 $2,720 2.87%
$50k or less 103 $14,845,000 $144,126 $2,385 2.86%
$250k+ 81 $42,535,000 $525,123 $2,592 3.01%

Core Bank lent most frequently to those with incomes in the $100k-150k range, with 270 originations. The second most popular income band? $50k-75k, with 225 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 257 $68,835,000 $267,840 $2,424 2.83%
30-36% 194 $52,280,000 $269,485 $2,661 2.88%
<20% 108 $31,260,000 $289,444 $2,161 2.79%
44% 46 $11,570,000 $251,522 $3,367 2.81%
50-60% 45 $12,795,000 $284,333 $6,010 2.67%
38% 45 $11,685,000 $259,667 $3,065 2.99%
40% 44 $13,040,000 $296,364 $2,977 2.84%
39% 37 $7,685,000 $207,703 $2,793 2.96%
36% 37 $11,205,000 $302,838 $2,624 3.03%
41% 37 $10,905,000 $294,730 $2,867 2.84%
43% 35 $8,365,000 $239,000 $2,539 2.87%
49% 33 $7,625,000 $231,061 $3,576 2.97%
42% 29 $6,025,000 $207,759 $2,238 2.86%
37% 27 $6,535,000 $242,037 $2,851 2.86%
45% 26 $6,930,000 $266,538 $3,126 2.80%
47% 24 $6,020,000 $250,833 $3,364 2.83%
48% 24 $6,080,000 $253,333 $2,327 2.81%
46% 18 $4,740,000 $263,333 $3,085 2.82%
>60% 1 $555,000 $555,000 $12,917 2.38%

Core Bank lent most frequently to those with DTI ratios of 20-30%, with 257 originations. The next most common DTI ratio? 30-36%, with 194 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 949 $256,885,000 $270,690 $2,772 2.84%
Not applicable 65 $50,865,000 $782,538 $0 4.18%
Not provided 145 $37,965,000 $261,828 $2,993 2.85%
Asian 29 $8,285,000 $285,690 $1,894 2.68%
Black 26 $5,980,000 $230,000 $3,199 2.73%
American Indian 3 $465,000 $155,000 $5,320 2.67%

Approval Rates

Total approvals of all applications
97.21%

Core Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
87.03%

Core Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,217 $360,445,000 $296,175

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,217 $360,445,000 $296,175

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 55 $9,465,000 $172,091 $1,795 3.09%
40-60% 157 $42,305,000 $269,459 $1,808 2.82%
60-80% 470 $148,730,000 $316,447 $2,025 3.01%
80-100% 480 $148,780,000 $309,958 $3,348 2.87%
Over 100% 31 $10,035,000 $323,710 $10,834 2.43%
Under 20% 24 $1,130,000 $47,083 $585 2.24%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Core Bank 12100 West Center Road Omaha, NE 68144 Full Service B&M $92,771
Core Bank 13220 Birch Drive Omaha, NE 68164 Full Service B&M $31,439
Core Bank 16805 Q Street Omaha, NE 68135 Full Service B&M $55,970
Core Bank 17807 Burke Street Omaha, NE 68118 Full Service B&M $368,828
Core Bank 2545 South 180th Street Omaha, NE 68130 Full Service B&M $65,685
Core Bank 7400 College Boulevard, Suite 205 Overland Park, KS 66210 Full Service B&M $32,414

For 2021, Core Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $31,295
Net interest income $29,855
Total noninterest income $14,447
Gross Fiduciary activities income $1,281
Service charges on deposit accounts $397
Trading account gains and fees $0
Additional Noninterest Income $12,769
Pre-tax net operating income $13,430
Securities gains (or losses, -) $0
Income before extraordinary items $11,021
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $11,021
Minority interest net income $0
Net income $11,021
Sale, conversion, retirement of capital stock, net $0
Net operating income $11,021

Core Bank's gross interest income from loans was $31,295,000.
Core Bank's net interest income from loans was $29,855,000.
Core Bank's fee based income from loans was $397,000.
Core Bank's net income from loans was $11,021,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,440
Provision for credit losses $2,000
Total noninterest expense $28,872
Salaries and employee benefits $18,207
Premises and equipment expense $3,965
Additional noninterest expense $6,700
Applicable income taxes $2,409
Net charge-offs $186
Cash dividends $340

Core Bank's interest expense for loans was $1,440,000.
Core Bank's payroll and benefits expense were $18,207,000.
Core Bank's property, plant and equipment expenses $3,965,000.

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 1.0%
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 $703,637
Deposits held in domestic offices $703,637
Deposits by Individuals, partnerships, and corporations $682,972
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $19,422
Deposits by Commercial banks and other depository institutions in U.S. $1,242
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $307,169
Demand deposits $174,660
Nontransaction accounts $396,467
Money market deposit accounts (MMDAs) $348,213
Other savings deposits (excluding MMDAs) $28,056
Total time deposits $20,197
Total time and savings deposits $528,976
Noninterest-bearing deposits $157,832
Interest-bearing deposits $545,805
Retail deposits $698,338
IRAs and Keogh plan accounts $0
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $796,827
Cash & Balances due from depository institutions $48,154
Interest-bearing balances $43,567
Total securities $37,114
Federal funds sold & reverse repurchase $295
Net loans and leases $663,257
Loan and leases loss allowance $9,097
Trading account assets $0
Bank premises and fixed assets $26,257
Other real estate owned $0
Goodwill and other intangibles $183
All other assets $21,567

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $796,827
Total Liabilities $725,605
Total deposits $703,637
Interest-bearing deposits $545,805
Deposits held in domestic offices $703,637
% insured (estimated) $61
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $15,000
Subordinated debt $0
All other liabilities $6,968

Issued Loan Types

Type Value (in 000's)
Net loans and leases $663,257
Loan and leases loss allowance $9,097
Total loans and leases (domestic) $672,354
All real estate loans $505,059
Real estate loans in domestic offices $505,059
Construction and development loans $133,317
Residential 1-4 family construction $50,689
Other construction, all land development and other land $82,628
Loans secured by nonfarm nonresidential properties $175,901
Nonfarm nonresidential secured by owner-occupied properties $76,682
Commercial real estate & other non-farm, non-residential $99,219
Multifamily residential real estate $68,946
1-4 family residential loans $121,902
Farmland loans $4,993
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $155,157
To non-U.S. addressees $0
Loans to individuals $3,185
Credit card loans $0
Related Plans $99
Consumer Auto Loans $453
Other loans to individuals $2,633
All other loans & leases $8,953
Loans to foreign governments and official institutions $0
Other loans $21
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $21,788
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,862
Non 1-4 family restructured loans & leases $1,597
Total loans and leases (foreign) $0

Core Bank had $663,257,000 of loans outstanding in 2021. $505,059,000 of loans were in real estate loans. $133,317,000 of loans were in development loans. $68,946,000 of loans were in multifamily mortgage loans. $121,902,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $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 100 $34,979 $349,790
Nonfarm, nonresidential loans - <$100k 6 $312 $52,000
Nonfarm, nonresidential loans - $100-250k 19 $2,655 $139,737
Nonfarm, nonresidential loans - $250k-1MM 75 $32,012 $426,827
Commercial & Industrial, US addressed loans - <$1MM 471 $54,636 $116,000
Commercial & Industrial, US addressed loans - <$100k 266 $6,232 $23,429
Commercial & Industrial, US addressed loans - $100-250k 88 $8,854 $100,614
Commercial & Industrial, US addressed loans - $250k-1MM 117 $39,550 $338,034
Farmland loans - <$1MM 9 $1,240 $137,778
Farmland loans - <$100k 1 $81 $81,000
Farmland loans - $100-250k 5 $466 $93,200
Farmland loans - $250k-1MM 3 $693 $231,000