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™
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    • 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 and Refi loans. Hills Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Iowa City, Cedar Rapids, Muscatine, Des Moines, and Fairfield 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% 4/18/24
    30 Year Conventional Purchase 6.50% 4/18/24
    30 Year Conventional Refi 6.41% 4/18/24
    30 Year Cash-out Refi 6.49% 4/18/24
    15 Year Conventional Purchase 5.86% 4/18/24
    15 Year Conventional Refi 5.84% 4/18/24
    15 Year Cash-out Refi 5.84% 4/18/24
    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

    4,702

    Origination Dollar Volume (All Markets)

    $839,650,000

    Employee count

    506

    Awards

    Hills Bank and Trust Company 30 Year Conventional Loans bronze Hills Bank and Trust Company 30 Year Conventional Loans silver Hills Bank and Trust Company 30 Year Conventional Loans gold Hills Bank and Trust Company 30 Year Conventional Loans gold
    Show all (4) 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) 2,807 $550,965,000 $196,283 $1,301 3.39%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 1,515 $228,345,000 $150,723 $1,232 3.56%
    Outside of Metro Areas 307 $47,655,000 $155,228 $1,320 3.47%
    Muscatine, IA (FHA|USDA|VA) 29 $4,205,000 $145,000 $1,445 3.47%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 11 $2,365,000 $215,000 $1,672 3.23%
    Fairfield, IA (FHA|USDA|VA) 6 $1,760,000 $293,333 $1,963 3.61%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 9 $1,625,000 $180,556 $1,900 3.71%
    AMES, IA (FHA|USDA|VA) 4 $780,000 $195,000 $1,734 3.31%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 6 $710,000 $118,333 $1,689 3.63%
    Pella, IA (FHA|USDA|VA) 2 $500,000 $250,000 $1,617 2.94%
    Clinton, IA (FHA|USDA|VA) 4 $480,000 $120,000 $1,880 3.78%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.75%
    Oskaloosa, IA (FHA|USDA|VA) 1 $125,000 $125,000 $1,777 3.13%
    Hills Bank And Trust Company's top markets include Iowa City, Cedar Rapids, Muscatine, Des Moines, and Fairfield among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Florida (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: 170
    Bankers Trust Company
    Similarity Rank: 222
    Fidelity Bank & Trust
    Similarity Rank: 275
    FIRST
    Similarity Rank: 451
    LINN AREA
    Similarity Rank: 462
    CBI Bank & Trust
    Similarity Rank: 506
    Hills Bank and Trust Company
    Similarity Rank: 507
    I. H. MISSISSIPPI VALLEY CREDIT UNION
    Similarity Rank: 510
    BankIowa of Cedar Rapids
    Similarity Rank: 513
    UNIVERSAL LENDING CORPORATION
    Similarity Rank: 532

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4,178 $804,560,000 $192,571 $1,285 3.39%
    HELOC 524 $35,090,000 $66,966 n/a 3.97%

    For 2020, Hills Bank And Trust Company's most frequently originated type of loan was Conventional, with 4,178 originations. Their 2nd most popular type was HELOC, with 524 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 2,665 $440,615,000 $165,334 $1,232 3.47%
    Refi 1,228 $292,250,000 $237,989 $1,349 3.29%
    Cash Out Refi 365 $83,045,000 $227,521 $1,587 3.20%
    Home Improvement 302 $16,180,000 $53,576 $377 3.99%
    Other 142 $7,560,000 $53,239 $408 4.04%

    For 2020, Hills Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 2,665 originations. The 2nd most popular reason was Refi, with 1,228 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,436 $479,720,000 $196,929 $1,404 3.22%
    5 Year 786 $121,010,000 $153,957 $139 4.01%
    15 Year 579 $123,315,000 $212,979 $1,415 2.76%
    Other 532 $82,160,000 $154,436 $287 4.28%
    20 Year 288 $25,260,000 $87,708 $478 3.74%
    10 Year 63 $4,565,000 $72,460 $526 3.61%
    1 Year 16 $3,460,000 $216,250 $0 4.21%
    3 Year 2 $160,000 $80,000 $0 4.58%

    For 2020, Hills Bank And Trust Company's most frequently cited loan duration was 30 Year, with 2,436 originations. The 2nd most popular length was 5 Year, with 786 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3,462 $619,570,000 $178,963
    $1k-2k 129 $37,145,000 $287,946
    $2k-3k 8 $1,460,000 $182,500
    $5k+ 3 $785,000 $261,667
    $3k-4k 1 $285,000 $285,000
    $4k-5k 1 $215,000 $215,000

    Hills Bank And Trust Company's average total fees were $1,404, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3,462 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 2,196 $370,250,000 $168,602
    2.5-3% 1,120 $255,360,000 $228,000
    4-5% 890 $90,860,000 $102,090
    <2.5% 451 $119,645,000 $265,288
    5-6% 43 $3,425,000 $79,651
    6-7% 2 $110,000 $55,000

    During 2020, Hills Bank And Trust Company's average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 2,196 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,589 $237,585,000 $149,519 $1,496 3.38%
    $100,000 or less 1,491 $63,715,000 $42,733 $478 3.97%
    $200k-400k 1,404 $376,750,000 $268,340 $1,541 3.04%
    $400k-600k 189 $88,925,000 $470,503 $1,607 3.00%
    $1MM+ 15 $62,435,000 $4,162,333 $0 3.82%
    $600k-1MM 14 $10,240,000 $731,429 $1,812 3.95%

    2020 saw Hills Bank And Trust Company place emphasis on $100k-200k loans with 1,589 originations, totaling $237,585,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 943 $126,255,000 $133,887 $1,241 3.40%
    $100k-150k 928 $181,490,000 $195,571 $1,351 3.31%
    $50k or less 871 $83,495,000 $95,861 $1,140 3.60%
    $75k-100k 721 $123,655,000 $171,505 $1,348 3.31%
    $150k-250k 463 $115,595,000 $249,665 $1,474 3.15%
    $250k+ 187 $54,475,000 $291,310 $1,406 3.28%

    Hills Bank And Trust Company lent most frequently to those with incomes in the $50k-75k range, with 943 originations. The second most popular income band? $100k-150k, with 928 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 1,050 $183,460,000 $174,724 $1,362 3.24%
    30-36% 785 $130,725,000 $166,529 $1,265 3.35%
    <20% 461 $81,235,000 $176,215 $1,415 3.23%
    38% 176 $24,680,000 $140,227 $1,135 3.44%
    39% 152 $21,930,000 $144,276 $1,104 3.39%
    41% 150 $26,960,000 $179,733 $1,244 3.36%
    37% 148 $24,120,000 $162,973 $1,208 3.34%
    36% 143 $21,945,000 $153,462 $1,248 3.37%
    40% 138 $22,700,000 $164,493 $1,185 3.36%
    42% 130 $20,800,000 $160,000 $1,263 3.36%
    44% 130 $22,010,000 $169,308 $1,269 3.25%
    43% 110 $16,220,000 $147,455 $1,238 3.41%
    50-60% 93 $15,065,000 $161,989 $1,060 3.59%
    45% 61 $11,745,000 $192,541 $1,296 3.29%
    48% 55 $10,885,000 $197,909 $1,328 3.22%
    47% 55 $10,085,000 $183,364 $1,347 3.20%
    49% 54 $12,300,000 $227,778 $1,353 3.16%
    46% 51 $8,975,000 $175,980 $1,397 3.18%
    >60% 26 $4,530,000 $174,231 $1,034 3.48%

    Hills Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 1,050 originations. The next most common DTI ratio? 30-36%, with 785 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 3,561 $620,985,000 $174,385 $1,305 3.35%
    Not applicable 408 $117,130,000 $287,083 $0 4.21%
    Not provided 499 $60,035,000 $120,311 $1,113 3.68%
    Asian 118 $27,100,000 $229,661 $1,378 2.94%
    Black 96 $10,480,000 $109,167 $970 3.65%
    Asian Indian 10 $2,040,000 $204,000 $1,441 3.32%
    American Indian 7 $1,665,000 $237,857 $1,311 3.21%
    Chinese 1 $135,000 $135,000 $0 4.00%
    Other Asian 1 $65,000 $65,000 $1,097 3.50%
    Native Hawaiian or Islander 1 $15,000 $15,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    97.89%

    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
    89.24%

    Hills Bank And Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 4 $130,000 $32,500
    NA 4,698 $839,520,000 $178,697

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $535,000 $535,000
    Multifamily:Site-Built 113 $78,605,000 $695,619
    Single Family (1-4 Units):Manufactured 18 $630,000 $35,000
    Single Family (1-4 Units):Site-Built 4,570 $759,880,000 $166,276

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 281 $38,225,000 $136,032 $1,117 3.72%
    40-60% 415 $81,185,000 $195,627 $1,413 3.24%
    60-80% 1,442 $353,330,000 $245,028 $1,496 3.27%
    80-100% 1,593 $329,875,000 $207,078 $1,589 3.26%
    Over 100% 1 $95,000 $95,000 $0 4.00%
    Under 20% 940 $31,450,000 $33,457 $36 4.04%

    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 $484,384
    Hills Bank and Trust Company 103 West Main Street Lisbon, IA 52253 Full Service B&M $32,048
    Hills Bank and Trust Company 120 Fifth Street Kalona, IA 52247 Full Service B&M $139,262
    Hills Bank and Trust Company 125 North Madison Street Iowa City, IA 52245 Full Service Retail $7,692
    Hills Bank and Trust Company 131 Main Street Hills, IA 52235 Full Service B&M $566,208
    Hills Bank and Trust Company 1401 South Gilbert Street Iowa City, IA 52240 Full Service B&M $577,118
    Hills Bank and Trust Company 200 Hawkins Drive Iowa City, IA 52242 Full Service Retail $23,411
    Hills Bank and Trust Company 201 South Clinton Street Iowa City, IA 52240 Full Service B&M $86,331
    Hills Bank and Trust Company 229 8th Avenue Wellman, IA 52356 Full Service B&M $23,000
    Hills Bank and Trust Company 240 Third Avenue, S.E. Cedar Rapids, IA 52401 Full Service B&M $44,845
    Hills Bank and Trust Company 2481 Highway 92 West Washington, IA 52353 Full Service B&M $91,826
    Hills Bank and Trust Company 2621 Muscatine Avenue Iowa City, IA 52240 Full Service B&M $140,817
    Hills Bank and Trust Company 3204 7th Avenue Marion, IA 52302 Full Service B&M $71,667
    Hills Bank and Trust Company 3610 Williams Boulevard, Sw Cedar Rapids, IA 52404 Full Service B&M $183,666
    Hills Bank and Trust Company 3905 Blairs Ferry Road N.E. Cedar Rapids, IA 52402 Full Service B&M $118,683
    Hills Bank and Trust Company 590 West Forevergreen Road North Liberty, IA 52317 Full Service B&M $50,523
    Hills Bank and Trust Company 720 First Avenue Mount Vernon, IA 52314 Full Service B&M $83,979
    Hills Bank and Trust Company 800 Eleventh Street Marion, IA 52302 Full Service B&M $77,272
    Hills Bank and Trust Company Highway 965 And Zeller Street North Liberty, IA 52317 Full Service B&M $123,056

    For 2020, Hills Bank And Trust Company had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $128,528
    Net interest income $101,576
    Total noninterest income $29,024
    Gross Fiduciary activities income $10,275
    Service charges on deposit accounts $2,119
    Trading account gains and fees $0
    Additional Noninterest Income $16,630
    Pre-tax net operating income $50,276
    Securities gains (or losses, -) $10
    Income before extraordinary items $38,836
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $38,836
    Minority interest net income $0
    Net income $38,836
    Sale, conversion, retirement of capital stock, net $5,000
    Net operating income $38,828

    Hills Bank And Trust Company's gross interest income from loans was $128,528,000.
    Hills Bank And Trust Company's net interest income from loans was $101,576,000.
    Hills Bank And Trust Company's fee based income from loans was $2,119,000.
    Hills Bank And Trust Company's net income from loans was $38,836,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $26,952
    Provision for credit losses $4,358
    Total noninterest expense $75,966
    Salaries and employee benefits $39,798
    Premises and equipment expense $11,528
    Additional noninterest expense $24,640
    Applicable income taxes $11,450
    Net charge-offs $1,048
    Cash dividends $14,822

    Hills Bank And Trust Company's interest expense for loans was $26,952,000.
    Hills Bank And Trust Company's payroll and benefits expense were $39,798,000.
    Hills Bank And Trust Company's property, plant and equipment expenses $11,528,000.

    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 0.0%
    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 $3,194,158
    Deposits held in domestic offices $3,194,158
    Deposits by Individuals, partnerships, and corporations $2,941,250
    Deposits by U.S. Government $10
    Deposits by States and political subdivisions in the U.S. $252,898
    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 $443,903
    Demand deposits $153,064
    Nontransaction accounts $2,750,255
    Money market deposit accounts (MMDAs) $417,988
    Other savings deposits (excluding MMDAs) $1,634,764
    Total time deposits $697,504
    Total time and savings deposits $3,041,094
    Noninterest-bearing deposits $532,679
    Interest-bearing deposits $2,661,479
    Retail deposits $3,002,064
    IRAs and Keogh plan accounts $120,328
    Brokered deposits $77,576
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,778,765
    Cash & Balances due from depository institutions $574,170
    Interest-bearing balances $544,377
    Total securities $408,372
    Federal funds sold & reverse repurchase $140
    Net loans and leases $2,717,959
    Loan and leases loss allowance $37,070
    Trading account assets $0
    Bank premises and fixed assets $38,742
    Other real estate owned $45
    Goodwill and other intangibles $2,500
    All other assets $36,837

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,778,765
    Total Liabilities $3,314,410
    Total deposits $3,194,158
    Interest-bearing deposits $2,661,479
    Deposits held in domestic offices $3,194,158
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $107,911
    Subordinated debt $0
    All other liabilities $12,341

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,717,959
    Loan and leases loss allowance $37,070
    Total loans and leases (domestic) $2,755,029
    All real estate loans $2,285,431
    Real estate loans in domestic offices $2,285,431
    Construction and development loans $183,223
    Residential 1-4 family construction $67,811
    Other construction, all land development and other land $115,412
    Loans secured by nonfarm nonresidential properties $416,945
    Nonfarm nonresidential secured by owner-occupied properties $181,131
    Commercial real estate & other non-farm, non-residential $235,814
    Multifamily residential real estate $374,014
    1-4 family residential loans $1,064,107
    Farmland loans $247,142
    Loans held in foreign offices $0
    Farm loans $94,842
    Commercial and industrial loans $286,242
    To non-U.S. addressees $0
    Loans to individuals $31,326
    Credit card loans $9,901
    Related Plans $0
    Consumer Auto Loans $16,304
    Other loans to individuals $5,121
    All other loans & leases $57,188
    Loans to foreign governments and official institutions $0
    Other loans $700
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,026
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $10,250
    Non 1-4 family restructured loans & leases $8,479
    Total loans and leases (foreign) $0

    Hills Bank and Trust Company had $2,717,959,000 of loans outstanding in 2020. $2,285,431,000 of loans were in real estate loans. $183,223,000 of loans were in development loans. $374,014,000 of loans were in multifamily mortgage loans. $1,064,107,000 of loans were in 1-4 family mortgage loans. $94,842,000 of loans were in farm loans. $9,901,000 of loans were in credit card loans. $16,304,000 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 756 $181,107 $239,560
    Nonfarm, nonresidential loans - <$100k 141 $6,202 $43,986
    Nonfarm, nonresidential loans - $100-250k 255 $34,698 $136,071
    Nonfarm, nonresidential loans - $250k-1MM 360 $140,207 $389,464
    Commercial & Industrial, US addressed loans - <$1MM 3,783 $224,154 $59,253
    Commercial & Industrial, US addressed loans - <$100k 2,793 $65,134 $23,320
    Commercial & Industrial, US addressed loans - $100-250k 672 $69,269 $103,079
    Commercial & Industrial, US addressed loans - $250k-1MM 318 $89,751 $282,236
    Farmland loans - <$1MM 572 $85,380 $149,266
    Farmland loans - <$100k 116 $4,822 $41,569
    Farmland loans - $100-250k 252 $29,605 $117,480
    Farmland loans - $250k-1MM 204 $50,953 $249,770
    Agriculture operations loans - <$1MM 1,201 $61,875 $51,520
    Agriculture operations loans - <$100k 868 $19,796 $22,806
    Agriculture operations loans - $100-250k 265 $27,684 $104,468
    Agriculture operations loans - $250k-1MM 68 $14,395 $211,691