Hills Bank And Trust Company Mortgage Rates, Fees & Info

Hills, IA

LEI: 549300ZWA6HRT4N1Z222

Tax ID: 42-0310580

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Hills Bank And Trust Company is a smaller bank specializing in Home Purchase loans. Hills Bank And Trust Company has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Iowa City, Cedar Rapids, Muscatine, Des Moines, and Waterloo among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Hills Bank And Trust Company 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. Hills Bank And Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 4/21/24
    30 Year Conventional Purchase 6.50% 4/21/24
    30 Year Conventional Refi 6.41% 4/21/24
    30 Year Cash-out Refi 6.49% 4/21/24
    15 Year Conventional Purchase 5.86% 4/21/24
    15 Year Conventional Refi 5.84% 4/21/24
    15 Year Cash-out Refi 5.84% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Hills Bank And Trust Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Hills Bank And Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    3,587

    Origination Dollar Volume (All Markets)

    $460,715,000

    Employee count

    485 Show all (8) awards

    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
    IOWA CITY, IA (FHA|USDA|VA) 2,185 $306,885,000 $140,451 $999 4.36%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1,103 $120,765,000 $109,488 $966 4.47%
    Outside of Metro Areas 245 $24,525,000 $100,102 $1,089 4.47%
    Muscatine, IA (FHA|USDA|VA) 23 $2,195,000 $95,435 $838 4.55%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 10 $1,860,000 $186,000 $1,525 4.30%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 7 $1,085,000 $155,000 $0 4.67%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $955,000 $955,000 $0 5.25%
    AMES, IA (FHA|USDA|VA) 3 $755,000 $251,667 $1,869 4.50%
    Ottumwa, IA (FHA|USDA|VA) 4 $660,000 $165,000 $1,164 4.34%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 3 $535,000 $178,333 $1,676 4.08%
    Fairfield, IA (FHA|USDA|VA) 1 $225,000 $225,000 $1,701 4.25%
    Burlington, IA-IL (FHA|USDA|VA) 1 $135,000 $135,000 $1,586 3.88%
    Oskaloosa, IA (FHA|USDA|VA) 1 $135,000 $135,000 $0 5.50%
    Hills Bank And Trust Company's top markets include Iowa City, Cedar Rapids, Muscatine, Des Moines, and Waterloo among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Hills Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    ASCENTRA
    Similarity Rank: 65
    Citizens State Bank
    Similarity Rank: 68
    Farmers Savings Bank & Trust
    Similarity Rank: 76
    FIRST
    Similarity Rank: 117
    Two Rivers Bank & Trust
    Similarity Rank: 135
    Hills Bank and Trust Company
    Similarity Rank: 182
    COMMUNITY 1ST CREDIT UNION
    Similarity Rank: 273
    BankIowa of Cedar Rapids
    Similarity Rank: 304
    MidWestOne Bank
    Similarity Rank: 328
    Collins Community Credit Union
    Similarity Rank: 390

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,963 $420,685,000 $141,979 $989 4.40%
    HELOC 614 $38,710,000 $63,046 n/a 4.44%
    USDA 10 $1,320,000 $132,000 $2,778 4.01%

    For 2018, Hills Bank And Trust Company's most frequently originated type of loan was Conventional, with 2,963 originations. Their 2nd most popular type was HELOC, with 614 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,503 $361,335,000 $144,361 $1,038 4.33%
    Refi 382 $50,270,000 $131,597 $896 4.55%
    Home Improvement 361 $17,105,000 $47,382 $103 4.65%
    Other 215 $9,395,000 $43,698 $225 4.52%
    Cash Out Refi 126 $22,610,000 $179,444 $1,332 4.38%

    For 2018, Hills Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 2,503 originations. The 2nd most popular reason was Refi, with 382 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,565 $249,625,000 $159,505 $1,196 4.21%
    5 Year 806 $70,670,000 $87,680 $25 4.57%
    Other 687 $87,165,000 $126,878 $135 4.75%
    20 Year 245 $14,425,000 $58,878 $274 4.28%
    15 Year 180 $26,530,000 $147,389 $1,184 4.09%
    10 Year 55 $4,175,000 $75,909 $571 4.11%
    1 Year 35 $5,925,000 $169,286 $0 5.01%
    3 Year 14 $2,200,000 $157,143 $6 4.97%

    For 2018, Hills Bank And Trust Company's most frequently cited loan duration was 30 Year, with 1,565 originations. The 2nd most popular length was 5 Year, with 806 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 2,236 $299,760,000 $134,061
    $1k-2k 36 $9,990,000 $277,500
    $2k-3k 4 $1,040,000 $260,000
    $3k-4k 4 $920,000 $230,000
    $4k-5k 1 $265,000 $265,000

    Hills Bank And Trust Company's average total fees were $1,196, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,236 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,879 $251,845,000 $134,031
    3-4% 1,154 $145,330,000 $125,936
    5-6% 537 $62,335,000 $116,080
    2.5-3% 8 $500,000 $62,500
    6-7% 8 $680,000 $85,000
    7-8% 1 $25,000 $25,000

    During 2018, Hills Bank And Trust Company's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was 4-5%, with 1,879 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,727 $72,625,000 $42,053 $370 4.49%
    $100k-200k 1,145 $166,305,000 $145,245 $1,419 4.37%
    $200k-400k 615 $162,115,000 $263,602 $1,475 4.23%
    $400k-600k 83 $37,745,000 $454,759 $1,534 4.26%
    $600k-1MM 12 $9,950,000 $829,167 $2,609 4.82%
    $1MM+ 5 $11,975,000 $2,395,000 $0 4.78%

    2018 saw Hills Bank And Trust Company place emphasis on $100,000 or less loans with 1,727 originations, totaling $72,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 732 $74,010,000 $101,107 $955 4.29%
    $50k or less 726 $62,620,000 $86,253 $1,025 4.41%
    $75k-100k 557 $66,065,000 $118,609 $949 4.27%
    $100k-150k 556 $81,680,000 $146,906 $1,053 4.24%
    $150k-250k 291 $49,965,000 $171,701 $1,088 4.19%
    $250k+ 111 $26,605,000 $239,685 $1,118 4.13%

    Hills Bank And Trust Company lent most frequently to those with incomes in the $50k-75k range, with 732 originations. The second most popular income band? $50k or less, with 726 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 637 $69,975,000 $109,851 $1,016 4.30%
    30-36% 550 $60,460,000 $109,927 $923 4.37%
    <20% 263 $27,675,000 $105,228 $1,147 4.24%
    37% 127 $15,045,000 $118,465 $980 4.25%
    38% 114 $12,960,000 $113,684 $952 4.14%
    39% 112 $11,300,000 $100,893 $866 4.22%
    41% 104 $11,360,000 $109,231 $978 4.28%
    50-60% 101 $17,685,000 $175,099 $1,056 4.11%
    36% 100 $11,660,000 $116,600 $959 4.34%
    42% 94 $11,590,000 $123,298 $982 4.24%
    46% 80 $11,640,000 $145,500 $1,072 4.23%
    44% 74 $9,190,000 $124,189 $1,013 4.18%
    43% 72 $9,470,000 $131,528 $1,073 4.26%
    40% 69 $9,225,000 $133,696 $878 4.13%
    45% 69 $9,025,000 $130,797 $1,019 4.28%
    47% 61 $10,185,000 $166,967 $1,129 4.18%
    48% 58 $10,050,000 $173,276 $1,149 4.23%
    49% 49 $9,295,000 $189,694 $1,298 4.18%
    >60% 41 $6,165,000 $150,366 $837 4.08%

    Hills Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 637 originations. The next most common DTI ratio? 30-36%, with 550 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,541 $323,845,000 $127,448 $1,023 4.29%
    Not applicable 483 $83,375,000 $172,619 $0 5.04%
    Not provided 404 $31,460,000 $77,871 $708 4.42%
    Asian 99 $14,835,000 $149,848 $1,070 4.09%
    Black 52 $5,660,000 $108,846 $862 4.27%
    Native Hawaiian or Islander 4 $650,000 $162,500 $1,424 4.03%
    Asian Indian 3 $585,000 $195,000 $1,496 4.00%
    American Indian 1 $305,000 $305,000 $2,306 3.50%

    Approval Rates

    Total approvals of all applications
    96.83%

    Hills Bank And Trust Company 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
    86.81%

    Hills Bank And Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 3 $95,000 $31,667
    NA 3,584 $460,620,000 $128,521

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $1,335,000 $445,000
    Multifamily:Site-Built 57 $27,145,000 $476,228
    Single Family (1-4 Units):Manufactured 22 $1,590,000 $72,273
    Single Family (1-4 Units):Site-Built 3,505 $430,645,000 $122,866

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 304 $27,940,000 $91,908 $528 4.39%
    40-60% 228 $33,560,000 $147,193 $1,403 4.38%
    60-80% 811 $143,845,000 $177,367 $1,435 4.55%
    80-100% 1,183 $214,955,000 $181,703 $1,475 4.30%
    Over 100% 3 $685,000 $228,333 $1,451 5.00%
    Under 20% 1,043 $31,355,000 $30,062 $23 4.40%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Hills Bank and Trust Company 1009 Second Street Coralville, IA 52241 Full Service B&M $381,822
    Hills Bank and Trust Company 103 West Main Street Lisbon, IA 52253 Full Service B&M $22,905
    Hills Bank and Trust Company 120 Fifth Street Kalona, IA 52247 Full Service B&M $119,844
    Hills Bank and Trust Company 125 North Madison Street Iowa City, IA 52245 Full Service Retail $6,385
    Hills Bank and Trust Company 131 Main Street Hills, IA 52235 Full Service B&M $614,567
    Hills Bank and Trust Company 1401 South Gilbert Street Iowa City, IA 52240 Full Service B&M $438,538
    Hills Bank and Trust Company 200 Hawkins Drive Iowa City, IA 52242 Full Service Retail $16,764
    Hills Bank and Trust Company 201 South Clinton Street Iowa City, IA 52240 Full Service B&M $74,976
    Hills Bank and Trust Company 229 8th Avenue Wellman, IA 52356 Full Service B&M $18,683
    Hills Bank and Trust Company 240 Third Avenue, S.E. Cedar Rapids, IA 52401 Full Service B&M $36,910
    Hills Bank and Trust Company 2481 Highway 92 West Washington, IA 52353 Full Service B&M $48,768
    Hills Bank and Trust Company 2621 Muscatine Avenue Iowa City, IA 52240 Full Service B&M $108,098
    Hills Bank and Trust Company 3204 7th Avenue Marion, IA 52302 Full Service B&M $18,157
    Hills Bank and Trust Company 3610 Williams Boulevard, Sw Cedar Rapids, IA 52404 Full Service B&M $143,149
    Hills Bank and Trust Company 3905 Blairs Ferry Road N.E. Cedar Rapids, IA 52402 Full Service B&M $81,854
    Hills Bank and Trust Company 590 West Forevergreen Road North Liberty, IA 52317 Full Service B&M $31,192
    Hills Bank and Trust Company 720 First Avenue Mount Vernon, IA 52314 Full Service B&M $72,657
    Hills Bank and Trust Company 800 Eleventh Street Marion, IA 52302 Full Service B&M $62,779
    Hills Bank and Trust Company Highway 965 And Zeller Street North Liberty, IA 52317 Full Service B&M $100,121

    For 2018, Hills Bank And Trust Company had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $118,797
    Net interest income $92,474
    Total noninterest income $24,212
    Gross Fiduciary activities income $10,007
    Service charges on deposit accounts $2,615
    Trading account gains and fees $0
    Additional Noninterest Income $11,590
    Pre-tax net operating income $46,459
    Securities gains (or losses, -) $0
    Income before extraordinary items $37,281
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $37,281
    Minority interest net income $0
    Net income $37,281
    Sale, conversion, retirement of capital stock, net $4,700
    Net operating income $37,281

    Hills Bank And Trust Company's gross interest income from loans was $118,797,000.
    Hills Bank And Trust Company's net interest income from loans was $92,474,000.
    Hills Bank And Trust Company's fee based income from loans was $2,615,000.
    Hills Bank And Trust Company's net income from loans was $37,281,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $26,323
    Provision for credit losses $8,497
    Total noninterest expense $61,730
    Salaries and employee benefits $34,320
    Premises and equipment expense $9,833
    Additional noninterest expense $17,577
    Applicable income taxes $9,178
    Net charge-offs $87
    Cash dividends $11,503

    Hills Bank And Trust Company's interest expense for loans was $26,323,000.
    Hills Bank And Trust Company's payroll and benefits expense were $34,320,000.
    Hills Bank And Trust Company's property, plant and equipment expenses $9,833,000.

    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 0.0%
    Personal loans 0.0%
    Credit card loans 0.2%
    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 $2,425,343
    Deposits held in domestic offices $2,425,343
    Deposits by Individuals, partnerships, and corporations $2,248,326
    Deposits by U.S. Government $37
    Deposits by States and political subdivisions in the U.S. $176,980
    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 $314,052
    Demand deposits $114,559
    Nontransaction accounts $2,111,291
    Money market deposit accounts (MMDAs) $408,126
    Other savings deposits (excluding MMDAs) $1,121,795
    Total time deposits $581,370
    Total time and savings deposits $2,310,784
    Noninterest-bearing deposits $372,152
    Interest-bearing deposits $2,053,191
    Retail deposits $2,207,193
    IRAs and Keogh plan accounts $108,289
    Brokered deposits $138,578
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,041,233
    Cash & Balances due from depository institutions $43,046
    Interest-bearing balances $7,978
    Total securities $318,926
    Federal funds sold & reverse repurchase $259
    Net loans and leases $2,593,069
    Loan and leases loss allowance $37,810
    Trading account assets $0
    Bank premises and fixed assets $37,052
    Other real estate owned $52
    Goodwill and other intangibles $2,500
    All other assets $46,329

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,041,233
    Total Liabilities $2,656,040
    Total deposits $2,425,343
    Interest-bearing deposits $2,053,191
    Deposits held in domestic offices $2,425,343
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $215,000
    Subordinated debt $0
    All other liabilities $15,697

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,593,069
    Loan and leases loss allowance $37,810
    Total loans and leases (domestic) $2,630,879
    All real estate loans $2,225,441
    Real estate loans in domestic offices $2,225,441
    Construction and development loans $186,085
    Residential 1-4 family construction $66,113
    Other construction, all land development and other land $119,972
    Loans secured by nonfarm nonresidential properties $383,315
    Nonfarm nonresidential secured by owner-occupied properties $165,381
    Commercial real estate & other non-farm, non-residential $217,934
    Multifamily residential real estate $352,434
    1-4 family residential loans $1,067,153
    Farmland loans $236,454
    Loans held in foreign offices $0
    Farm loans $92,673
    Commercial and industrial loans $229,502
    To non-U.S. addressees $0
    Loans to individuals $30,071
    Credit card loans $10,637
    Related Plans $0
    Consumer Auto Loans $13,395
    Other loans to individuals $6,039
    All other loans & leases $53,192
    Loans to foreign governments and official institutions $0
    Other loans $467
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,269
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $8,539
    Non 1-4 family restructured loans & leases $7,372
    Total loans and leases (foreign) $0

    Hills Bank and Trust Company had $2,593,069,000 of loans outstanding in 2018. $2,225,441,000 of loans were in real estate loans. $186,085,000 of loans were in development loans. $352,434,000 of loans were in multifamily mortgage loans. $1,067,153,000 of loans were in 1-4 family mortgage loans. $92,673,000 of loans were in farm loans. $10,637,000 of loans were in credit card loans. $13,395,000 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 781 $176,721 $226,275
    Nonfarm, nonresidential loans - <$100k 177 $7,574 $42,791
    Nonfarm, nonresidential loans - $100-250k 255 $33,260 $130,431
    Nonfarm, nonresidential loans - $250k-1MM 349 $135,887 $389,361
    Commercial & Industrial, US addressed loans - <$1MM 2,964 $175,310 $59,146
    Commercial & Industrial, US addressed loans - <$100k 2,151 $47,491 $22,079
    Commercial & Industrial, US addressed loans - $100-250k 551 $54,661 $99,203
    Commercial & Industrial, US addressed loans - $250k-1MM 262 $73,158 $279,229
    Farmland loans - <$1MM 581 $89,823 $154,601
    Farmland loans - <$100k 147 $6,510 $44,286
    Farmland loans - $100-250k 236 $29,515 $125,064
    Farmland loans - $250k-1MM 198 $53,798 $271,707
    Agriculture operations loans - <$1MM 1,164 $62,329 $53,547
    Agriculture operations loans - <$100k 866 $21,676 $25,030
    Agriculture operations loans - $100-250k 236 $25,639 $108,640
    Agriculture operations loans - $250k-1MM 62 $15,014 $242,161