Cedar Rapids Bank And Trust Company Mortgage Rates, Fees & Info

Cedar Rapids, IA

LEI: PS6WLKTYGZOKK05G5O59

Tax ID: 42-1524302

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cedar Rapids Bank And Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Cedar Rapids Bank And Trust Company has a high proportion of conventional loans. Their top markets include Cedar Rapids, Washington, Tucson, Virginia Beach, and Richmond among others. Cedar Rapids Bank And Trust Company has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

176

Origination Dollar Volume (All Markets)

$356,660,000

Employee count

168

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CEDAR RAPIDS, IA (FHA|USDA|VA) 99 $44,355,000 $448,030 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 4 $44,260,000 $11,065,000 $0 0.00%
TUCSON, AZ (FHA|USDA|VA) 6 $27,950,000 $4,658,333 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $27,005,000 $27,005,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 2 $20,210,000 $10,105,000 $0 0.00%
MADISON, WI (FHA|USDA|VA) 3 $18,175,000 $6,058,333 $0 0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 3 $18,105,000 $6,035,000 $0 0.00%
VICTORIA, TX (FHA|USDA|VA) 1 $16,005,000 $16,005,000 $0 0.00%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $13,055,000 $13,055,000 $0 0.00%
GAINESVILLE, GA (FHA|USDA|VA) 2 $11,810,000 $5,905,000 $0 0.00%
BATON ROUGE, LA (FHA|USDA|VA) 1 $11,605,000 $11,605,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $10,310,000 $5,155,000 $0 0.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $8,955,000 $8,955,000 $0 0.00%
MONROE, LA (FHA|USDA|VA) 1 $8,005,000 $8,005,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $7,380,000 $3,690,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $7,005,000 $7,005,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $5,320,000 $2,660,000 $0 0.00%
Lamesa, TX (FHA|USDA|VA) 1 $4,755,000 $4,755,000 $0 0.00%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $4,655,000 $4,655,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $4,645,000 $4,645,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $4,260,000 $2,130,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 1 $3,675,000 $3,675,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $2,940,000 $1,470,000 $0 0.00%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $2,885,000 $2,885,000 $0 0.00%
TULSA, OK (FHA|USDA|VA) 1 $2,595,000 $2,595,000 $0 0.00%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 2 $2,560,000 $1,280,000 $0 0.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $2,255,000 $2,255,000 $0 0.00%
Outside of Metro Areas 3 $1,965,000 $655,000 $0 0.00%
SIOUX FALLS, SD (FHA|USDA|VA) 1 $1,775,000 $1,775,000 $0 0.00%
BURLINGTON, NC (FHA|USDA|VA) 1 $1,725,000 $1,725,000 $0 0.00%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $1,705,000 $1,705,000 $0 0.00%
NEW BERN, NC (FHA|USDA|VA) 1 $1,635,000 $1,635,000 $0 0.00%
BRUNSWICK, GA (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 0.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $1,325,000 $1,325,000 $0 0.00%
CHEYENNE, WY (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $0 0.00%
Morgan City, LA (FHA|USDA|VA) 1 $1,195,000 $1,195,000 $0 0.00%
Burlington, IA-IL (FHA|USDA|VA) 1 $1,175,000 $1,175,000 $0 0.00%
ALBANY, GA (FHA|USDA|VA) 1 $1,015,000 $1,015,000 $0 0.00%
COLUMBIA, SC (FHA|USDA|VA) 1 $995,000 $995,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $905,000 $905,000 $0 0.00%
GREENVILLE, NC (FHA|USDA|VA) 1 $835,000 $835,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $785,000 $785,000 $0 0.00%
WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 8 $720,000 $90,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
IOWA CITY, IA (FHA|USDA|VA) 2 $200,000 $100,000 $0 0.00%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%

Cedar Rapids Bank And Trust Company's top markets include Cedar Rapids, Washington, Tucson, Virginia Beach, and Richmond among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 176 $356,660,000 $2,026,477 $0 0.00%

For the 2021 period, Cedar Rapids Bank And Trust Company's most frequently originated loan type of loans were Conventional, with 176 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 93 $264,665,000 $2,845,860 $0 0.00%
Refi 75 $81,515,000 $1,086,867 $0 0.00%
Home Improvement 5 $10,375,000 $2,075,000 $0 0.00%
Other 3 $105,000 $35,000 $0 0.00%

For the 2021, Cedar Rapids Bank And Trust Company's most frequently cited loan purpose of loans were Home Purchase, with 93 originations. The 2nd most popular reason of loans were Refi, with 75 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 176 $356,660,000 $2,026,477 $0 0.00%

For the 2021, Cedar Rapids Bank And Trust Company's most frequently cited loan length of loans were Other, with 176 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 58 $332,210,000 $5,727,759 $0 0.00%
$100k-200k 43 $5,895,000 $137,093 $0 0.00%
$100,000 or less 40 $2,400,000 $60,000 $0 0.00%
$200k-400k 19 $5,445,000 $286,579 $0 0.00%
$600k-1MM 9 $7,035,000 $781,667 $0 0.00%
$400k-600k 7 $3,675,000 $525,000 $0 0.00%

2021 saw Cedar Rapids Bank And Trust Company place emphasis on $1MM+ loans with 58 originations, totaling $332,210,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 27 $2,575,000 $95,370 $0 0.00%
$250k+ 14 $5,350,000 $382,143 $0 0.00%
$50k-75k 12 $1,640,000 $136,667 $0 0.00%
$150k-250k 7 $1,195,000 $170,714 $0 0.00%
$100k-150k 5 $965,000 $193,000 $0 0.00%
$75k-100k 5 $1,065,000 $213,000 $0 0.00%

Cedar Rapids Bank And Trust Company lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $250k+, with 14 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 176 $356,660,000 $2,026,477 $0 0.00%

Cedar Rapids Bank And Trust Company lent most frequently to those with DTI ratios of Exempt%, with 176 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 101 $340,965,000 $3,375,891 $0 0.00%
White 67 $13,875,000 $207,090 $0 0.00%
Not provided 7 $1,755,000 $250,714 $0 0.00%
Asian 1 $65,000 $65,000 $0 0.00%

Approval Rates

Total approvals of all applications
87.24%

Cedar Rapids Bank And Trust Company has an average approval rate.

Pick Rate

Approvals leading to origination
74.58%

Cedar Rapids Bank And Trust Company has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 176 $356,660,000 $2,026,477

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
176 $356,660,000 $2,026,477

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Cedar Rapids Bank and Trust Company 11 Tower Park Drive Waterloo, IA 50701 Full Service B&M $27,049
Cedar Rapids Bank and Trust Company 500 1st Avenue Ne, Suite 100 Cedar Rapids, IA 52401 Full Service B&M $986,273
Cedar Rapids Bank and Trust Company 5400 Council Street Ne Cedar Rapids, IA 52402 Full Service B&M $122,132
Cedar Rapids Bank and Trust Company 191 Jacolyn Drive, N.W. Cedar Rapids, IA 52405 Full Service B&M $0
Cedar Rapids Bank and Trust Company 2075 7th Avenue Marion, IA 52302 Full Service B&M $32,936
Cedar Rapids Bank and Trust Company 2322 West 1st Street Cedar Falls, IA 50613 Full Service B&M $33,284
Cedar Rapids Bank and Trust Company 2701 Bever Avenue Cedar Rapids, IA 52403 Full Service B&M $27,971
Cedar Rapids Bank and Trust Company 3406 F Avenue Northwest Cedar Rapids, IA 52405 Full Service B&M $52,919
Cedar Rapids Bank and Trust Company 422 Commercial Street Waterloo, IA 50701 Full Service B&M $113,165

For 2021, Cedar Rapids Bank And Trust Company had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $61,089
Net interest income $57,352
Total noninterest income $68,692
Gross Fiduciary activities income $3,134
Service charges on deposit accounts $1,977
Trading account gains and fees $0
Additional Noninterest Income $63,581
Pre-tax net operating income $70,665
Securities gains (or losses, -) $-96
Income before extraordinary items $55,411
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $55,411
Minority interest net income $0
Net income $55,411
Sale, conversion, retirement of capital stock, net $0
Net operating income $55,486

Cedar Rapids Bank And Trust Company's gross interest income from loans was $61,089,000.
Cedar Rapids Bank And Trust Company's net interest income from loans was $57,352,000.
Cedar Rapids Bank And Trust Company's fee based income from loans was $1,977,000.
Cedar Rapids Bank And Trust Company's net income from loans was $55,411,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,737
Provision for credit losses $-697
Total noninterest expense $56,076
Salaries and employee benefits $39,029
Premises and equipment expense $4,711
Additional noninterest expense $12,336
Applicable income taxes $15,158
Net charge-offs $1,517
Cash dividends $0

Cedar Rapids Bank And Trust Company's interest expense for loans was $3,737,000.
Cedar Rapids Bank And Trust Company's payroll and benefits expense were $39,029,000.
Cedar Rapids Bank And Trust Company's property, plant and equipment expenses $4,711,000.

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 $1,504,992
Deposits held in domestic offices $1,504,992
Deposits by Individuals, partnerships, and corporations $1,460,221
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $44,704
Deposits by Commercial banks and other depository institutions in U.S. $67
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $270,587
Demand deposits $201,722
Nontransaction accounts $1,234,405
Money market deposit accounts (MMDAs) $442,017
Other savings deposits (excluding MMDAs) $628,440
Total time deposits $163,948
Total time and savings deposits $1,303,270
Noninterest-bearing deposits $360,127
Interest-bearing deposits $1,144,865
Retail deposits $1,409,559
IRAs and Keogh plan accounts $5,022
Brokered deposits $1,003
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,023,177
Cash & Balances due from depository institutions $31,468
Interest-bearing balances $17,521
Total securities $257,126
Federal funds sold & reverse repurchase $1,900
Net loans and leases $1,412,894
Loan and leases loss allowance $24,913
Trading account assets $206,830
Bank premises and fixed assets $30,109
Other real estate owned $0
Goodwill and other intangibles $16,682
All other assets $66,168

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,023,177
Total Liabilities $1,750,568
Total deposits $1,504,992
Interest-bearing deposits $1,144,865
Deposits held in domestic offices $1,504,992
% insured (estimated) $48
Federal funds purchased and repurchase agreements $0
Trading liabilities $206,597
Other borrowed funds $0
Subordinated debt $0
All other liabilities $38,979

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,412,894
Loan and leases loss allowance $24,913
Total loans and leases (domestic) $1,437,807
All real estate loans $903,953
Real estate loans in domestic offices $903,953
Construction and development loans $240,789
Residential 1-4 family construction $9,875
Other construction, all land development and other land $230,914
Loans secured by nonfarm nonresidential properties $345,938
Nonfarm nonresidential secured by owner-occupied properties $143,887
Commercial real estate & other non-farm, non-residential $202,051
Multifamily residential real estate $228,083
1-4 family residential loans $87,135
Farmland loans $2,008
Loans held in foreign offices $0
Farm loans $283
Commercial and industrial loans $441,399
To non-U.S. addressees $0
Loans to individuals $3,897
Credit card loans $0
Related Plans $1,503
Consumer Auto Loans $1,456
Other loans to individuals $938
All other loans & leases $88,275
Loans to foreign governments and official institutions $0
Other loans $12,001
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $20,556
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Cedar Rapids Bank and Trust Company had $1,412,894,000 of loans outstanding in 2021. $903,953,000 of loans were in real estate loans. $240,789,000 of loans were in development loans. $228,083,000 of loans were in multifamily mortgage loans. $87,135,000 of loans were in 1-4 family mortgage loans. $283,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,456,000 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 169 $45,905 $271,627
Nonfarm, nonresidential loans - <$100k 23 $980 $42,609
Nonfarm, nonresidential loans - $100-250k 45 $5,375 $119,444
Nonfarm, nonresidential loans - $250k-1MM 101 $39,550 $391,584
Commercial & Industrial, US addressed loans - <$1MM 380 $57,171 $150,450
Commercial & Industrial, US addressed loans - <$100k 134 $3,842 $28,672
Commercial & Industrial, US addressed loans - $100-250k 118 $13,883 $117,653
Commercial & Industrial, US addressed loans - $250k-1MM 128 $39,446 $308,172
Farmland loans - <$1MM 5 $1,090 $218,000
Farmland loans - <$100k 1 $64 $64,000
Farmland loans - $100-250k 1 $8 $8,000
Farmland loans - $250k-1MM 3 $1,018 $339,333
Agriculture operations loans - <$1MM 1 $283 $283,000
Agriculture operations loans - $250k-1MM 1 $283 $283,000