Platte Valley Bank Mortgage Rates, Fees & Info

Torrington, WY

LEI: 549300ZFJ1696ECS0S38

Tax ID: 47-0244065

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Mortgage Data

Bank Data

Review & Overview

Platte Valley Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Platte Valley 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 by origination volume include: Cheyenne, Casper, Phoenix, Laramie, and Greeley among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Platte Valley Bank 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.

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Originations

294

Origination Dollar Volume (All Markets)

$63,910,000

Employee count

86

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
Outside of Metro Areas 152 $25,290,000 $166,382 $0 0.00%
CHEYENNE, WY (FHA|USDA|VA) 76 $21,850,000 $287,500 $0 0.00%
CASPER, WY (FHA|USDA|VA) 44 $10,920,000 $248,182 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,550,000 $775,000 $0 0.00%
Laramie, WY (FHA|USDA|VA) 5 $995,000 $199,000 $0 0.00%
GREELEY, CO (FHA|USDA|VA) 2 $770,000 $385,000 $0 0.00%
Gillette, WY (FHA|USDA|VA) 3 $765,000 $255,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
Scottsbluff, NE (FHA|USDA|VA) 4 $360,000 $90,000 $0 0.00%
Outside of Metro Areas 1 $275,000 $275,000 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 2 $120,000 $60,000 $0 0.00%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Platte Valley Bank's top markets include Cheyenne, Casper, Phoenix, Laramie, and Greeley among others.

Their top states include:
  • Wyoming (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 248 $55,540,000 $223,952 $0 0.00%
    USDA 22 $3,400,000 $154,545 $0 0.00%
    FHA 15 $2,875,000 $191,667 $0 0.00%
    VA 9 $2,095,000 $232,778 $0 0.00%

    For 2020, Platte Valley Bank's most frequently originated type of loan was Conventional, with 248 originations. Their 2nd most popular type was USDA, with 22 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 115 $24,635,000 $214,217 $0 0.00%
    Refi 96 $20,540,000 $213,958 $0 0.00%
    Cash Out Refi 77 $18,685,000 $242,662 $0 0.00%
    Other 6 $50,000 $8,333 $0 0.00%

    For 2020, Platte Valley Bank's most frequently cited loan purpose was Home Purchase, with 115 originations. The 2nd most popular reason was Refi, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 294 $63,910,000 $217,381 $0 0.00%

    For 2020, Platte Valley Bank's most frequently cited loan duration was Other, with 294 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 106 $30,520,000 $287,925 $0 0.00%
    $100k-200k 104 $15,740,000 $151,346 $0 0.00%
    $100,000 or less 56 $3,200,000 $57,143 $0 0.00%
    $400k-600k 26 $11,900,000 $457,692 $0 0.00%
    $1MM+ 2 $2,550,000 $1,275,000 $0 0.00%

    2020 saw Platte Valley Bank place emphasis on $200k-400k loans with 106 originations, totaling $30,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 63 $15,215,000 $241,508 $0 0.00%
    $50k-75k 63 $9,965,000 $158,175 $0 0.00%
    $50k or less 45 $5,355,000 $119,000 $0 0.00%
    $75k-100k 45 $8,875,000 $197,222 $0 0.00%
    $150k-250k 30 $9,430,000 $314,333 $0 0.00%
    $250k+ 21 $7,895,000 $375,952 $0 0.00%

    Platte Valley Bank lent most frequently to those with incomes in the $100k-150k range, with 63 originations. The second most popular income band? $50k-75k, with 63 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 294 $63,910,000 $217,381 $0 0.00%

    Platte Valley Bank lent most frequently to those with DTI ratios of Exempt%, with 294 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $50,550,000 $203,831 $0 0.00%
    Not applicable 26 $7,090,000 $272,692 $0 0.00%
    Not provided 15 $4,675,000 $311,667 $0 0.00%
    Asian 2 $690,000 $345,000 $0 0.00%
    American Indian 1 $365,000 $365,000 $0 0.00%
    Black 1 $355,000 $355,000 $0 0.00%
    Samoan 1 $185,000 $185,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.78%

    Platte Valley Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.46%

    Platte Valley Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 294 $63,910,000 $217,381

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,640,000 $660,000
    Single Family (1-4 Units):Manufactured 8 $850,000 $106,250
    Single Family (1-4 Units):Site-Built 282 $60,420,000 $214,255

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Platte Valley Bank 200 16th Street Wheatland, WY 82201 Full Service B&M $93,700
    Platte Valley Bank 2201 Main Street Torrington, WY 82240 Full Service B&M $147,135
    Platte Valley Bank 3131 Sw Wyoming Blvd Casper, WY 82604 Full Service B&M $66,547
    Platte Valley Bank 3310 North College Drive Cheyenne, WY 82001 Full Service B&M $35,520
    Platte Valley Bank 421 Vandehei Avenue Cheyenne, WY 82003 Full Service B&M $45,069
    Platte Valley Bank 5271 East Second Street Casper, WY 82609 Full Service B&M $40,646

    For 2020, Platte Valley Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,911
    Net interest income $26,286
    Total noninterest income $3,503
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $652
    Trading account gains and fees $0
    Additional Noninterest Income $2,851
    Pre-tax net operating income $10,691
    Securities gains (or losses, -) $-71
    Income before extraordinary items $8,576
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,576
    Minority interest net income $0
    Net income $8,576
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,633

    Platte Valley Bank's gross interest income from loans was $29,911,000.
    Platte Valley Bank's net interest income from loans was $26,286,000.
    Platte Valley Bank's fee based income from loans was $652,000.
    Platte Valley Bank's net income from loans was $8,576,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,625
    Provision for credit losses $4,620
    Total noninterest expense $14,478
    Salaries and employee benefits $6,140
    Premises and equipment expense $1,027
    Additional noninterest expense $7,311
    Applicable income taxes $2,044
    Net charge-offs $2,655
    Cash dividends $3,200

    Platte Valley Bank's interest expense for loans was $3,625,000.
    Platte Valley Bank's payroll and benefits expense were $6,140,000.
    Platte Valley Bank's property, plant and equipment expenses $1,027,000.

    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 2.0%
    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 $458,453
    Deposits held in domestic offices $458,453
    Deposits by Individuals, partnerships, and corporations $417,175
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $41,278
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $176,555
    Demand deposits $98,658
    Nontransaction accounts $281,898
    Money market deposit accounts (MMDAs) $45,003
    Other savings deposits (excluding MMDAs) $46,223
    Total time deposits $190,672
    Total time and savings deposits $359,795
    Noninterest-bearing deposits $96,220
    Interest-bearing deposits $362,233
    Retail deposits $391,991
    IRAs and Keogh plan accounts $16,558
    Brokered deposits $22,241
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $522,998
    Cash & Balances due from depository institutions $64,311
    Interest-bearing balances $58,103
    Total securities $41,946
    Federal funds sold & reverse repurchase $0
    Net loans and leases $390,664
    Loan and leases loss allowance $9,295
    Trading account assets $0
    Bank premises and fixed assets $12,982
    Other real estate owned $128
    Goodwill and other intangibles $1,213
    All other assets $11,754

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $522,998
    Total Liabilities $469,247
    Total deposits $458,453
    Interest-bearing deposits $362,233
    Deposits held in domestic offices $458,453
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,500
    Subordinated debt $0
    All other liabilities $4,294

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $390,664
    Loan and leases loss allowance $9,295
    Total loans and leases (domestic) $399,959
    All real estate loans $204,006
    Real estate loans in domestic offices $204,006
    Construction and development loans $19,481
    Residential 1-4 family construction $11,118
    Other construction, all land development and other land $8,363
    Loans secured by nonfarm nonresidential properties $64,306
    Nonfarm nonresidential secured by owner-occupied properties $39,255
    Commercial real estate & other non-farm, non-residential $25,051
    Multifamily residential real estate $1,796
    1-4 family residential loans $75,288
    Farmland loans $43,135
    Loans held in foreign offices $0
    Farm loans $27,551
    Commercial and industrial loans $137,283
    To non-U.S. addressees $0
    Loans to individuals $25,387
    Credit card loans $947
    Related Plans $166
    Consumer Auto Loans $19,795
    Other loans to individuals $4,479
    All other loans & leases $5,907
    Loans to foreign governments and official institutions $0
    Other loans $63
    Loans to depository institutions and acceptances of other banks $2,500
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,147
    Non 1-4 family restructured loans & leases $3,117
    Total loans and leases (foreign) $0

    Platte Valley Bank had $390,664,000 of loans outstanding in 2020. $204,006,000 of loans were in real estate loans. $19,481,000 of loans were in development loans. $1,796,000 of loans were in multifamily mortgage loans. $75,288,000 of loans were in 1-4 family mortgage loans. $27,551,000 of loans were in farm loans. $947,000 of loans were in credit card loans. $19,795,000 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 135 $23,707 $175,607
    Nonfarm, nonresidential loans - <$100k 35 $1,366 $39,029
    Nonfarm, nonresidential loans - $100-250k 55 $7,286 $132,473
    Nonfarm, nonresidential loans - $250k-1MM 45 $15,055 $334,556
    Commercial & Industrial, US addressed loans - <$1MM 2,840 $121,518 $42,788
    Commercial & Industrial, US addressed loans - <$100k 2,478 $64,515 $26,035
    Commercial & Industrial, US addressed loans - $100-250k 272 $28,352 $104,235
    Commercial & Industrial, US addressed loans - $250k-1MM 90 $28,651 $318,344
    Farmland loans - <$1MM 78 $9,636 $123,538
    Farmland loans - <$100k 31 $1,442 $46,516
    Farmland loans - $100-250k 34 $4,754 $139,824
    Farmland loans - $250k-1MM 13 $3,440 $264,615
    Agriculture operations loans - <$1MM 327 $17,350 $53,058
    Agriculture operations loans - <$100k 253 $6,195 $24,486
    Agriculture operations loans - $100-250k 51 $5,301 $103,941
    Agriculture operations loans - $250k-1MM 23 $5,854 $254,522