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

Cedar Rapids, IA

LEI: PS6WLKTYGZOKK05G5O59

Tax ID: 42-1524302

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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

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

    Cedar Rapids Bank And Trust Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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    Originations

    137

    Origination Dollar Volume (All Markets)

    $38,275,000

    Employee count

    158

    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
    CEDAR RAPIDS, IA (FHA|USDA|VA) 102 $22,780,000 $223,333 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 9 $10,645,000 $1,182,778 $0 0.00%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 9 $1,095,000 $121,667 $0 0.00%
    IOWA CITY, IA (FHA|USDA|VA) 2 $850,000 $425,000 $0 0.00%
    COLUMBUS, OH (FHA|USDA|VA) 2 $730,000 $365,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $700,000 $350,000 $0 0.00%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 2 $490,000 $245,000 $0 0.00%
    Muscatine, IA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    AMES, IA (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    ROCHESTER, MN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    Outside of Metro Areas 3 $115,000 $38,333 $0 0.00%
    Clinton, IA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Austin, MN (FHA|USDA|VA) 2 $50,000 $25,000 $0 0.00%
    Cedar Rapids Bank And Trust Company's top markets include Cedar Rapids, Des Moines, Waterloo, Iowa City, and Columbus among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 137 $38,275,000 $279,380 $0 0.00%

    For 2018, Cedar Rapids Bank And Trust Company's most frequently originated type of loan was Conventional, with 137 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 68 $10,430,000 $153,382 $0 0.00%
    Home Purchase 56 $26,210,000 $468,036 $0 0.00%
    Home Improvement 8 $1,280,000 $160,000 $0 0.00%
    Other 5 $355,000 $71,000 $0 0.00%

    For 2018, Cedar Rapids Bank And Trust Company's most frequently cited loan purpose was Refi, with 68 originations. The 2nd most popular reason was Home Purchase, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 137 $38,275,000 $279,380 $0 0.00%

    For 2018, Cedar Rapids Bank And Trust Company's most frequently cited loan duration was Other, with 137 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 73 $4,095,000 $56,096 $0 0.00%
    $100k-200k 27 $3,525,000 $130,556 $0 0.00%
    $200k-400k 23 $6,195,000 $269,348 $0 0.00%
    $400k-600k 8 $3,870,000 $483,750 $0 0.00%
    $1MM+ 5 $19,985,000 $3,997,000 $0 0.00%
    $600k-1MM 1 $605,000 $605,000 $0 0.00%

    2018 saw Cedar Rapids Bank And Trust Company place emphasis on $100,000 or less loans with 73 originations, totaling $4,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 17 $2,885,000 $169,706 $0 0.00%
    $50k or less 16 $1,150,000 $71,875 $0 0.00%
    $75k-100k 12 $1,510,000 $125,833 $0 0.00%
    $100k-150k 11 $1,745,000 $158,636 $0 0.00%
    $50k-75k 8 $1,040,000 $130,000 $0 0.00%
    $250k+ 6 $2,560,000 $426,667 $0 0.00%

    Cedar Rapids Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $50k or less, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 137 $38,275,000 $279,380 $0 0.00%

    Cedar Rapids Bank And Trust Company lent most frequently to those with DTI ratios of Exempt%, with 137 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 63 $27,145,000 $430,873 $0 0.00%
    White 67 $10,055,000 $150,075 $0 0.00%
    Not provided 3 $845,000 $281,667 $0 0.00%
    Asian 3 $185,000 $61,667 $0 0.00%
    Chinese 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.00%

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

    Pick Rate

    Approvals leading to origination
    89.05%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 137 $38,275,000 $279,380

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 17 $22,745,000 $1,337,941
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 119 $15,495,000 $130,210

    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 $21,853
    Cedar Rapids Bank and Trust Company 191 Jacolyn Drive, N.W. Cedar Rapids, IA 52405 Full Service B&M $34,740
    Cedar Rapids Bank and Trust Company 2322 West 1st Street Cedar Falls, IA 50613 Full Service B&M $24,980
    Cedar Rapids Bank and Trust Company 2701 Bever Avenue Cedar Rapids, IA 52403 Full Service B&M $17,029
    Cedar Rapids Bank and Trust Company 422 Commercial Street Waterloo, IA 50701 Full Service B&M $63,343
    Cedar Rapids Bank and Trust Company 500 1st Avenue Ne, Suite 100 Cedar Rapids, IA 52401 Full Service B&M $855,328
    Cedar Rapids Bank and Trust Company 5400 Council Street Ne Cedar Rapids, IA 52402 Full Service B&M $45,208
    Cedar Rapids Bank and Trust Company 700 25th Street Marion, IA 52302 Full Service B&M $18,208

    For 2018, Cedar Rapids Bank And Trust Company had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $55,500
    Net interest income $43,038
    Total noninterest income $17,528
    Gross Fiduciary activities income $2,377
    Service charges on deposit accounts $1,945
    Trading account gains and fees $0
    Additional Noninterest Income $13,206
    Pre-tax net operating income $25,706
    Securities gains (or losses, -) $0
    Income before extraordinary items $20,680
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $20,680
    Minority interest net income $0
    Net income $20,680
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $20,680

    Cedar Rapids Bank And Trust Company's gross interest income from loans was $55,500,000.
    Cedar Rapids Bank And Trust Company's net interest income from loans was $43,038,000.
    Cedar Rapids Bank And Trust Company's fee based income from loans was $1,945,000.
    Cedar Rapids Bank And Trust Company's net income from loans was $20,680,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,462
    Provision for credit losses $1,833
    Total noninterest expense $33,027
    Salaries and employee benefits $19,394
    Premises and equipment expense $3,764
    Additional noninterest expense $9,869
    Applicable income taxes $5,026
    Net charge-offs $1,414
    Cash dividends $14,000

    Cedar Rapids Bank And Trust Company's interest expense for loans was $12,462,000.
    Cedar Rapids Bank And Trust Company's payroll and benefits expense were $19,394,000.
    Cedar Rapids Bank And Trust Company's property, plant and equipment expenses $3,764,000.

    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 1.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,162,519
    Deposits held in domestic offices $1,162,519
    Deposits by Individuals, partnerships, and corporations $914,070
    Deposits by U.S. Government $14
    Deposits by States and political subdivisions in the U.S. $101,874
    Deposits by Commercial banks and other depository institutions in U.S. $146,560
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $259,215
    Demand deposits $73,801
    Nontransaction accounts $903,303
    Money market deposit accounts (MMDAs) $277,364
    Other savings deposits (excluding MMDAs) $294,065
    Total time deposits $331,874
    Total time and savings deposits $1,088,717
    Noninterest-bearing deposits $194,945
    Interest-bearing deposits $967,574
    Retail deposits $916,422
    IRAs and Keogh plan accounts $6,338
    Brokered deposits $144,883
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,380,430
    Cash & Balances due from depository institutions $50,915
    Interest-bearing balances $24,637
    Total securities $199,077
    Federal funds sold & reverse repurchase $1,110
    Net loans and leases $1,025,160
    Loan and leases loss allowance $12,310
    Trading account assets $19,439
    Bank premises and fixed assets $25,318
    Other real estate owned $524
    Goodwill and other intangibles $18,166
    All other assets $40,721

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,380,430
    Total Liabilities $1,229,120
    Total deposits $1,162,519
    Interest-bearing deposits $967,574
    Deposits held in domestic offices $1,162,519
    % insured (estimated) $57
    Federal funds purchased and repurchase agreements $10,114
    Trading liabilities $19,439
    Other borrowed funds $17,780
    Subordinated debt $0
    All other liabilities $19,268

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,025,160
    Loan and leases loss allowance $12,310
    Total loans and leases (domestic) $1,037,470
    All real estate loans $571,781
    Real estate loans in domestic offices $571,781
    Construction and development loans $73,431
    Residential 1-4 family construction $6,735
    Other construction, all land development and other land $66,696
    Loans secured by nonfarm nonresidential properties $297,282
    Nonfarm nonresidential secured by owner-occupied properties $105,172
    Commercial real estate & other non-farm, non-residential $192,110
    Multifamily residential real estate $79,826
    1-4 family residential loans $117,368
    Farmland loans $3,874
    Loans held in foreign offices $0
    Farm loans $306
    Commercial and industrial loans $368,745
    To non-U.S. addressees $0
    Loans to individuals $9,133
    Credit card loans $2,943
    Related Plans $2,517
    Consumer Auto Loans $1,809
    Other loans to individuals $1,864
    All other loans & leases $87,505
    Loans to foreign governments and official institutions $0
    Other loans $12,116
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $24,168
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $120
    Non 1-4 family restructured loans & leases $120
    Total loans and leases (foreign) $0

    Cedar Rapids Bank and Trust Company had $1,025,160,000 of loans outstanding in 2018. $571,781,000 of loans were in real estate loans. $73,431,000 of loans were in development loans. $79,826,000 of loans were in multifamily mortgage loans. $117,368,000 of loans were in 1-4 family mortgage loans. $306,000 of loans were in farm loans. $2,943,000 of loans were in credit card loans. $1,809,000 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 207 $56,969 $275,213
    Nonfarm, nonresidential loans - <$100k 36 $1,569 $43,583
    Nonfarm, nonresidential loans - $100-250k 60 $7,891 $131,517
    Nonfarm, nonresidential loans - $250k-1MM 111 $47,509 $428,009
    Commercial & Industrial, US addressed loans - <$1MM 552 $63,978 $115,902
    Commercial & Industrial, US addressed loans - <$100k 327 $9,485 $29,006
    Commercial & Industrial, US addressed loans - $100-250k 106 $13,237 $124,877
    Commercial & Industrial, US addressed loans - $250k-1MM 119 $41,256 $346,689
    Farmland loans - <$1MM 14 $1,494 $106,714
    Farmland loans - <$100k 4 $119 $29,750
    Farmland loans - $100-250k 4 $501 $125,250
    Farmland loans - $250k-1MM 6 $874 $145,667
    Agriculture operations loans - <$1MM 2 $306 $153,000
    Agriculture operations loans - <$100k 1 $6 $6,000
    Agriculture operations loans - $250k-1MM 1 $300 $300,000