Iberiabank

Kenner, LA 70065

LEI: H98JYKDFKFZ5ZPCSMT69

Tax ID: 72-0218470

2019 Data | 2018 Data


Overview

Iberiabank is a small mortgage company specializing in Home Purchase and Refi loans. Iberiabank 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.) They have a low ratio of USDA loans. Their top markets include New Orleans, Miami, Houston, Dallas, and Fayetteville among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Iberiabank is typically a low fee lendor.


Originations

13,704

Origination Dollar Volume (All Markets)

$4,366,960,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 11,978 $3,980,830,000 $332,345
FHA 996 $206,190,000 $207,018
VA 498 $142,920,000 $286,988
USDA 232 $37,020,000 $159,569

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 7,192 $2,536,370,000 $352,665
Home Improvement 1,418 $182,210,000 $128,498
Other 958 $196,450,000 $205,063
Refi 3,202 $1,103,060,000 $344,491
Cash Out Refi 934 $348,870,000 $373,522

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
NEW ORLEANS-METAIRIE, LA 1,593 $440,765,000 $276,689
MIAMI-MIAMI BEACH-KENDALL, FL 407 $332,185,000 $816,179
Outside of Metro Areas 999 $296,195,000 $296,491
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 242 $291,060,000 $1,202,727
DALLAS-PLANO-IRVING, TX 520 $239,550,000 $460,673
FAYETTEVILLE-SPRINGDALE-ROGERS, AR 970 $204,920,000 $211,258
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 661 $173,235,000 $262,080
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 407 $167,975,000 $412,715
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR 798 $158,060,000 $198,070
MEMPHIS, TN-MS-AR 711 $157,085,000 $220,935
TAMPA-ST. PETERSBURG-CLEARWATER, FL 437 $139,075,000 $318,249
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 212 $138,750,000 $654,481
BATON ROUGE, LA 572 $123,870,000 $216,556
LAFAYETTE, LA 860 $109,920,000 $127,814
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 154 $108,080,000 $701,818
ORLANDO-KISSIMMEE-SANFORD, FL 297 $97,825,000 $329,377
HUNTSVILLE, AL 280 $95,870,000 $342,393
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 55 $92,775,000 $1,686,818
BIRMINGHAM-HOOVER, AL 335 $84,115,000 $251,090
JACKSON, MS 368 $77,850,000 $211,549
NAPLES-MARCO ISLAND, FL 136 $59,530,000 $437,721
ST. LOUIS, MO-IL 265 $56,585,000 $213,528
CAPE CORAL-FORT MYERS, FL 266 $54,680,000 $205,564
PALM BAY-MELBOURNE-TITUSVILLE, FL 68 $46,670,000 $686,324
DAPHNE-FAIRHOPE-FOLEY, AL 124 $45,030,000 $363,145
LAKE CHARLES, LA 326 $42,570,000 $130,583
NORTH PORT-SARASOTA-BRADENTON, FL 151 $35,815,000 $237,185
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL 189 $35,135,000 $185,899
JACKSONVILLE, FL 88 $33,270,000 $378,068
JONESBORO, AR 168 $32,250,000 $191,964
MOBILE, AL 120 $30,720,000 $256,000
NASSAU COUNTY-SUFFOLK COUNTY, NY 16 $29,740,000 $1,858,750
COLLEGE STATION-BRYAN, TX 1 $27,005,000 $27,005,000
MONROE, LA 152 $24,610,000 $161,908
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 26 $20,330,000 $781,923
FORT WORTH-ARLINGTON-GRAPEVINE, TX 36 $19,280,000 $535,556
AUSTIN-ROUND ROCK-GEORGETOWN, TX 22 $18,640,000 $847,273
BRIDGEPORT-STAMFORD-NORWALK, CT 10 $16,420,000 $1,642,000
GAINESVILLE, FL 4 $14,480,000 $3,620,000
HOUMA-THIBODAUX, LA 126 $14,180,000 $112,540
SHREVEPORT-BOSSIER CITY, LA 51 $13,855,000 $271,667
GULFPORT-BILOXI, MS 45 $13,475,000 $299,444
BRUNSWICK, GA 3 $11,905,000 $3,968,333
SAN ANTONIO-NEW BRAUNFELS, TX 9 $9,935,000 $1,103,889
PORT ST. LUCIE, FL 29 $8,755,000 $301,897
GREENVILLE-ANDERSON, SC 28 $6,270,000 $223,929
SALINAS, CA 2 $5,430,000 $2,715,000
LAS VEGAS-HENDERSON-PARADISE, NV 2 $5,350,000 $2,675,000
LOUISVILLE/JEFFERSON COUNTY, KY-IN 5 $3,905,000 $781,000
ATHENS-CLARKE COUNTY, GA 9 $3,735,000 $415,000
DECATUR, AL 18 $3,660,000 $203,333
BOULDER, CO 2 $3,320,000 $1,660,000
PENSACOLA-FERRY PASS-BRENT, FL 7 $3,125,000 $446,429
CHARLESTON-NORTH CHARLESTON, SC 7 $2,745,000 $392,143
HAMMOND, LA 23 $2,715,000 $118,043
HOT SPRINGS, AR 16 $2,690,000 $168,125
COLUMBIA, SC 5 $2,635,000 $527,000
HILTON HEAD ISLAND-BLUFFTON, SC 4 $2,400,000 $600,000
PHOENIX-MESA-CHANDLER, AZ 5 $2,375,000 $475,000
CHARLOTTE-CONCORD-GASTONIA, NC-SC 8 $2,330,000 $291,250
CHATTANOOGA, TN-GA 9 $2,215,000 $246,111
PUNTA GORDA, FL 13 $2,175,000 $167,308
CHICAGO-NAPERVILLE-EVANSTON, IL 2 $2,140,000 $1,070,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 3 $1,945,000 $648,333
MONTGOMERY, AL 7 $1,785,000 $255,000
OXNARD-THOUSAND OAKS-VENTURA, CA 2 $1,680,000 $840,000
KNOXVILLE, TN 8 $1,600,000 $200,000
ASHEVILLE, NC 4 $1,590,000 $397,500
SAVANNAH, GA 4 $1,500,000 $375,000
OCEAN CITY, NJ 1 $1,485,000 $1,485,000
TALLAHASSEE, FL 8 $1,440,000 $180,000
OCALA, FL 7 $1,405,000 $200,714
FLORENCE-MUSCLE SHOALS, AL 6 $1,350,000 $225,000
TULSA, OK 6 $1,340,000 $223,333
BOWLING GREEN, KY 3 $1,325,000 $441,667
TYLER, TX 3 $1,285,000 $428,333
LAKELAND-WINTER HAVEN, FL 9 $1,245,000 $138,333
JACKSON, TN 9 $1,245,000 $138,333
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 1 $1,215,000 $1,215,000
RICHMOND, VA 1 $1,215,000 $1,215,000
LOS ANGELES-LONG BEACH-GLENDALE, CA 2 $1,210,000 $605,000
TUSCALOOSA, AL 6 $1,200,000 $200,000
BARNSTABLE TOWN, MA 2 $1,190,000 $595,000
GAINESVILLE, GA 5 $1,185,000 $237,000
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 3 $1,165,000 $388,333
CLARKSVILLE, TN-KY 6 $1,150,000 $191,667
MCALLEN-EDINBURG-MISSION, TX 2 $1,140,000 $570,000
OKLAHOMA CITY, OK 4 $1,130,000 $282,500
FORT SMITH, AR-OK 7 $1,105,000 $157,857
JACKSONVILLE, NC 1 $1,065,000 $1,065,000
GREENSBORO-HIGH POINT, NC 7 $1,065,000 $152,143
DURHAM-CHAPEL HILL, NC 2 $1,060,000 $530,000
NEWARK, NJ-PA 3 $1,035,000 $345,000
PORTLAND-SOUTH PORTLAND, ME 2 $1,010,000 $505,000
SEBASTIAN-VERO BEACH, FL 4 $990,000 $247,500
SANTA FE, NM 1 $955,000 $955,000
WINSTON-SALEM, NC 3 $945,000 $315,000
NEW BRUNSWICK-LAKEWOOD, NJ 2 $850,000 $425,000
PANAMA CITY, FL 4 $820,000 $205,000
HOMOSASSA SPRINGS, FL 4 $810,000 $202,500
AUBURN-OPELIKA, AL 4 $770,000 $192,500
CAPE GIRARDEAU, MO-IL 2 $750,000 $375,000
SEATTLE-BELLEVUE-KENT, WA 1 $725,000 $725,000
BURLINGTON, NC 2 $710,000 $355,000
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA 1 $705,000 $705,000
SPARTANBURG, SC 5 $695,000 $139,000
SAN ANGELO, TX 2 $640,000 $320,000
CLEVELAND, TN 2 $620,000 $310,000
RALEIGH-CARY, NC 2 $610,000 $305,000
ALEXANDRIA, LA 4 $570,000 $142,500
DENVER-AURORA-LAKEWOOD, CO 1 $565,000 $565,000
KANSAS CITY, MO-KS 2 $520,000 $260,000
HATTIESBURG, MS 3 $505,000 $168,333
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 1 $475,000 $475,000
PINE BLUFF, AR 5 $465,000 $93,000
AMARILLO, TX 1 $465,000 $465,000
GADSDEN, AL 1 $435,000 $435,000
TRENTON-PRINCETON, NJ 1 $425,000 $425,000
COLORADO SPRINGS, CO 1 $395,000 $395,000
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY 1 $385,000 $385,000
BOISE CITY, ID 1 $375,000 $375,000
MANCHESTER-NASHUA, NH 1 $375,000 $375,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA 1 $375,000 $375,000
CORPUS CHRISTI, TX 1 $325,000 $325,000
COLUMBUS, GA-AL 2 $320,000 $160,000
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1 $315,000 $315,000
LONGVIEW, TX 1 $295,000 $295,000
AUGUSTA-RICHMOND COUNTY, GA-SC 1 $285,000 $285,000
CINCINNATI, OH-KY-IN 1 $275,000 $275,000
PITTSBURGH, PA 2 $270,000 $135,000
WARREN-TROY-FARMINGTON HILLS, MI 1 $255,000 $255,000
SANTA ROSA-PETALUMA, CA 1 $255,000 $255,000
OWENSBORO, KY 1 $235,000 $235,000
NEW BERN, NC 1 $225,000 $225,000
SEBRING-AVON PARK, FL 3 $225,000 $75,000
THE VILLAGES, FL 2 $220,000 $110,000
VICTORIA, TX 1 $215,000 $215,000
CARBONDALE-MARION, IL 1 $205,000 $205,000
COLUMBIA, MO 1 $205,000 $205,000
FAYETTEVILLE, NC 1 $195,000 $195,000
KALAMAZOO-PORTAGE, MI 1 $165,000 $165,000
EL PASO, TX 1 $165,000 $165,000
LUBBOCK, TX 1 $155,000 $155,000
SHERMAN-DENISON, TX 1 $145,000 $145,000
DOTHAN, AL 1 $125,000 $125,000
KILLEEN-TEMPLE, TX 1 $95,000 $95,000
WACO, TX 1 $85,000 $85,000
TEXARKANA, TX-AR 1 $65,000 $65,000
WILMINGTON, NC 1 $55,000 $55,000
HICKORY-LENOIR-MORGANTON, NC 1 $35,000 $35,000
MACON-BIBB COUNTY, GA 1 $25,000 $25,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 36 $250,000 $6,944
2.5-3% 120 $83,280,000 $694,000
3-4% 7,749 $2,411,905,000 $311,254
4-5% 4,237 $1,570,875,000 $370,752
5-6% 1,049 $244,495,000 $233,074
6-7% 288 $42,460,000 $147,431
7-8% 119 $9,485,000 $79,706
Over 8% 73 $4,015,000 $55,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 2,936 $160,720,000 $54,741
$100k-200k 3,979 $588,855,000 $147,991
$200k-400k 4,440 $1,242,560,000 $279,856
$400k-600k 1,222 $582,310,000 $476,522
$600k-1000k 608 $461,100,000 $758,388
$Over $1MM 519 $1,331,415,000 $2,565,347

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 1,702 $340,740,000 $200,200
40-60% 1,431 $674,775,000 $471,541
60-80% 3,268 $1,535,530,000 $469,868
80-100% 5,455 $1,619,675,000 $296,916
Over 100% 133 $47,665,000 $358,383
Under 20% 1,654 $134,940,000 $81,584

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 2,524 $577,600,000 $228,843
$150k-250k 2,152 $641,690,000 $298,183
$50k-75k 2,395 $394,955,000 $164,908
$50k-or less 1,886 $253,040,000 $134,168
$75k-100k 1,828 $355,660,000 $194,562
$Over $250k 2,160 $1,244,560,000 $576,185

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 10,953 $3,166,815,000 $289,128
Not applicable 388 $556,440,000 $1,434,124
Not provided 1,169 $373,755,000 $319,722
Black 730 $134,100,000 $183,699
Asian 342 $100,710,000 $294,474
American Indian 63 $15,125,000 $240,079
Asian Indian 23 $9,795,000 $425,870
Native Hawaiian 11 $4,405,000 $400,455
Other Asian 12 $2,740,000 $228,333
Vietnamese 5 $1,325,000 $265,000
Chinese 4 $1,180,000 $295,000
Other Pacific Islander 2 $390,000 $195,000
1 $105,000 $105,000
Japanese 1 $75,000 $75,000

Approval Rates

Total approvals of all applications
84.74%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
80.24%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 13,704 $4,366,960,000 $318,663

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 6,101 $1,472,425,000 $241,342
$1k-2k 2,479 $1,272,835,000 $513,447
$2k-3k 542 $225,200,000 $415,498
$3k-4k 244 $79,640,000 $326,393
$5k+ 136 $153,240,000 $1,126,765

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Site-Built 129 $499,955,000 $3,875,620
Single Family (1-4 Units):Manufactured 100 $6,240,000 $62,400
Single Family (1-4 Units):Site-Built 13,475 $3,860,765,000 $286,513