The Eastern Colorado Bank Mortgage Rates, Fees & Info

Cheyenne Wells, CO

LEI: 549300ZXXYWVD5ZXYN28

Tax ID: 84-0361004

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    The Eastern Colorado Bank is a smaller bank specializing in Home Purchase and Refi loans. The Eastern Colorado Bank has a high proportion of conventional loans. Their top markets by origination volume include: Colorado Springs, Denver, Grand Junction, and Sterling among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Eastern Colorado 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.

    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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    Originations

    56

    Origination Dollar Volume (All Markets)

    $16,490,000

    Employee count

    71

    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
    COLORADO SPRINGS, CO (FHA|USDA|VA) 24 $11,220,000 $467,500 $0 0.00%
    Outside of Metro Areas 26 $3,490,000 $134,231 $0 0.00%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $1,175,000 $391,667 $0 0.00%
    GRAND JUNCTION, CO (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
    Sterling, CO (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    The Eastern Colorado Bank's top markets include Colorado Springs, Denver, Grand Junction, and Sterling among others.

    Their top states include:
  • Colorado (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 56 $16,490,000 $294,464 $0 0.00%

    For 2019, The Eastern Colorado Bank's most frequently originated type of loan was Conventional, with 56 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 31 $9,785,000 $315,645 $0 0.00%
    Cash Out Refi 12 $3,070,000 $255,833 $0 0.00%
    Refi 10 $3,520,000 $352,000 $0 0.00%
    Other 3 $115,000 $38,333 $0 0.00%

    For 2019, The Eastern Colorado Bank's most frequently cited loan purpose was Home Purchase, with 31 originations. The 2nd most popular reason was Cash Out Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 56 $16,490,000 $294,464 $0 0.00%

    For 2019, The Eastern Colorado Bank's most frequently cited loan duration was Other, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 15 $2,055,000 $137,000 $0 0.00%
    $100,000 or less 13 $725,000 $55,769 $0 0.00%
    $200k-400k 12 $3,220,000 $268,333 $0 0.00%
    $400k-600k 11 $5,435,000 $494,091 $0 0.00%
    $600k-1MM 3 $2,295,000 $765,000 $0 0.00%
    $1MM+ 2 $2,760,000 $1,380,000 $0 0.00%

    2019 saw The Eastern Colorado Bank place emphasis on $100k-200k loans with 15 originations, totaling $2,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 7 $2,925,000 $417,857 $0 0.00%
    $250k+ 7 $6,025,000 $860,714 $0 0.00%
    $100k-150k 6 $1,540,000 $256,667 $0 0.00%
    $75k-100k 6 $980,000 $163,333 $0 0.00%
    $50k-75k 4 $380,000 $95,000 $0 0.00%
    $50k or less 4 $500,000 $125,000 $0 0.00%

    The Eastern Colorado Bank lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $250k+, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 56 $16,490,000 $294,464 $0 0.00%

    The Eastern Colorado Bank lent most frequently to those with DTI ratios of Exempt%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 40 $11,310,000 $282,750 $0 0.00%
    Not provided 5 $2,745,000 $549,000 $0 0.00%
    Not applicable 10 $2,280,000 $228,000 $0 0.00%
    Asian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.18%

    The Eastern Colorado 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
    78.57%

    The Eastern Colorado Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 56 $16,490,000 $294,464

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,030,000 $515,000
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 53 $15,405,000 $290,660

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Eastern Colorado Bank 10 South First Street Cheyenne Wells, CO 80810 Full Service B&M $114,810
    The Eastern Colorado Bank 113 Main Street Kit Carson, CO 80825 Full Service B&M $23,786
    The Eastern Colorado Bank 133 North Main Street Sharon Springs, KS 67758 Full Service B&M $49,424
    The Eastern Colorado Bank 2121 Rose Ave Burlington, CO 80807 Full Service B&M $46,147
    The Eastern Colorado Bank 444 East Pikes Peak Ave, Suite 300 Colorado Springs, CO 80903 Full Service B&M $43,296
    The Eastern Colorado Bank 790 Main St. Limon, CO 80828 Full Service B&M $55,891

    For 2019, The Eastern Colorado Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,078
    Net interest income $16,860
    Total noninterest income $1,296
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $432
    Trading account gains and fees $0
    Additional Noninterest Income $864
    Pre-tax net operating income $7,169
    Securities gains (or losses, -) $725
    Income before extraordinary items $7,894
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,894
    Minority interest net income $0
    Net income $7,894
    Sale, conversion, retirement of capital stock, net $155
    Net operating income $7,169

    The Eastern Colorado Bank's gross interest income from loans was $20,078,000.
    The Eastern Colorado Bank's net interest income from loans was $16,860,000.
    The Eastern Colorado Bank's fee based income from loans was $432,000.
    The Eastern Colorado Bank's net income from loans was $7,894,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,218
    Provision for credit losses $240
    Total noninterest expense $10,747
    Salaries and employee benefits $6,228
    Premises and equipment expense $895
    Additional noninterest expense $3,624
    Applicable income taxes $0
    Net charge-offs $-38
    Cash dividends $3,800

    The Eastern Colorado Bank's interest expense for loans was $3,218,000.
    The Eastern Colorado Bank's payroll and benefits expense were $6,228,000.
    The Eastern Colorado Bank's property, plant and equipment expenses $895,000.

    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 $386,240
    Deposits held in domestic offices $386,240
    Deposits by Individuals, partnerships, and corporations $298,596
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $85,644
    Deposits by Commercial banks and other depository institutions in U.S. $2,000
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $136,216
    Demand deposits $106,521
    Nontransaction accounts $250,024
    Money market deposit accounts (MMDAs) $103,859
    Other savings deposits (excluding MMDAs) $28,385
    Total time deposits $117,779
    Total time and savings deposits $279,719
    Noninterest-bearing deposits $106,521
    Interest-bearing deposits $279,719
    Retail deposits $346,753
    IRAs and Keogh plan accounts $9,160
    Brokered deposits $2,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $456,801
    Cash & Balances due from depository institutions $12,296
    Interest-bearing balances $58
    Total securities $74,654
    Federal funds sold & reverse repurchase $22,436
    Net loans and leases $317,843
    Loan and leases loss allowance $3,981
    Trading account assets $0
    Bank premises and fixed assets $8,323
    Other real estate owned $890
    Goodwill and other intangibles $3,601
    All other assets $16,758

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $456,802
    Total Liabilities $404,672
    Total deposits $386,240
    Interest-bearing deposits $279,719
    Deposits held in domestic offices $386,240
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $17,000
    Subordinated debt $0
    All other liabilities $1,432

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $317,843
    Loan and leases loss allowance $3,981
    Total loans and leases (domestic) $321,824
    All real estate loans $205,816
    Real estate loans in domestic offices $205,816
    Construction and development loans $31,903
    Residential 1-4 family construction $12,761
    Other construction, all land development and other land $19,142
    Loans secured by nonfarm nonresidential properties $67,770
    Nonfarm nonresidential secured by owner-occupied properties $23,281
    Commercial real estate & other non-farm, non-residential $44,489
    Multifamily residential real estate $5,477
    1-4 family residential loans $45,058
    Farmland loans $55,608
    Loans held in foreign offices $0
    Farm loans $71,882
    Commercial and industrial loans $32,688
    To non-U.S. addressees $0
    Loans to individuals $1,720
    Credit card loans $0
    Related Plans $15
    Consumer Auto Loans $926
    Other loans to individuals $779
    All other loans & leases $9,718
    Loans to foreign governments and official institutions $0
    Other loans $12
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $381
    Non 1-4 family restructured loans & leases $236
    Total loans and leases (foreign) $0

    The Eastern Colorado Bank had $317,843,000 of loans outstanding in 2019. $205,816,000 of loans were in real estate loans. $31,903,000 of loans were in development loans. $5,477,000 of loans were in multifamily mortgage loans. $45,058,000 of loans were in 1-4 family mortgage loans. $71,882,000 of loans were in farm loans. $0 of loans were in credit card loans. $926,000 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 66 $14,518 $219,970
    Nonfarm, nonresidential loans - <$100k 15 $554 $36,933
    Nonfarm, nonresidential loans - $100-250k 23 $2,875 $125,000
    Nonfarm, nonresidential loans - $250k-1MM 28 $11,089 $396,036
    Commercial & Industrial, US addressed loans - <$1MM 116 $10,914 $94,086
    Commercial & Industrial, US addressed loans - <$100k 61 $1,118 $18,328
    Commercial & Industrial, US addressed loans - $100-250k 31 $2,610 $84,194
    Commercial & Industrial, US addressed loans - $250k-1MM 24 $7,186 $299,417
    Farmland loans - <$1MM 93 $13,449 $144,613
    Farmland loans - <$100k 16 $625 $39,063
    Farmland loans - $100-250k 50 $6,010 $120,200
    Farmland loans - $250k-1MM 27 $6,814 $252,370
    Agriculture operations loans - <$1MM 201 $14,578 $72,527
    Agriculture operations loans - <$100k 103 $2,111 $20,495
    Agriculture operations loans - $100-250k 60 $5,333 $88,883
    Agriculture operations loans - $250k-1MM 38 $7,134 $187,737