Bank Of Erath Mortgage Rates, Fees & Info

Erath, LA

LEI: 25490029ZGGK0O5HP605

Tax ID: 72-0124900

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Mortgage Data

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

    Bank Of Erath is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Erath has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, New Orleans, Lake Charles, and Baton Rouge among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Erath has an above average approval rate when compared to the average across all lenders. They have an above 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.

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    Originations

    74

    Origination Dollar Volume (All Markets)

    $7,700,000

    Employee count

    34

    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
    LAFAYETTE, LA (FHA|USDA|VA) 71 $7,035,000 $99,085 $0 0.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $515,000 $515,000 $0 0.00%
    LAKE CHARLES, LA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    BATON ROUGE, LA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Bank Of Erath's top markets include Lafayette, New Orleans, Lake Charles, and Baton Rouge among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $7,700,000 $104,054 $0 0.00%

    For 2021, Bank Of Erath's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 44 $4,220,000 $95,909 $0 0.00%
    Home Purchase 13 $1,595,000 $122,692 $0 0.00%
    Cash Out Refi 13 $1,295,000 $99,615 $0 0.00%
    Other 3 $165,000 $55,000 $0 0.00%
    Home Improvement 1 $425,000 $425,000 $0 0.00%

    For 2021, Bank Of Erath's most frequently cited loan purpose was Refi, with 44 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 74 $7,700,000 $104,054 $0 0.00%

    For 2021, Bank Of Erath's most frequently cited loan duration was Other, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,325,000 $49,468 $0 0.00%
    $100k-200k 21 $2,795,000 $133,095 $0 0.00%
    $200k-400k 3 $745,000 $248,333 $0 0.00%
    $400k-600k 2 $940,000 $470,000 $0 0.00%
    $600k-1MM 1 $895,000 $895,000 $0 0.00%

    2021 saw Bank Of Erath place emphasis on $100,000 or less loans with 47 originations, totaling $2,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 25 $1,145,000 $45,800 $0 0.00%
    $50k-75k 10 $950,000 $95,000 $0 0.00%
    $75k-100k 8 $850,000 $106,250 $0 0.00%
    $150k-250k 7 $1,035,000 $147,857 $0 0.00%
    $100k-150k 6 $410,000 $68,333 $0 0.00%
    $250k+ 4 $380,000 $95,000 $0 0.00%

    Bank Of Erath lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 74 $7,700,000 $104,054 $0 0.00%

    Bank Of Erath lent most frequently to those with DTI ratios of Exempt%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 58 $5,110,000 $88,103 $0 0.00%
    Not applicable 11 $2,395,000 $217,727 $0 0.00%
    Black 5 $195,000 $39,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.00%

    Bank Of Erath has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.54%

    Bank Of Erath has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 74 $7,700,000 $104,054

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    74 $7,700,000 $104,054

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%
    BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
    BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Erath 105 West Edwards Erath, LA 70533 Full Service B&M $36,158
    Bank of Erath 1309 Charity Street Abbeville, LA 70510 Full Service B&M $51,963
    Bank of Erath Railroad And Main Streets Delcambre, LA 70528 Full Service B&M $12,533

    For 2021, Bank Of Erath had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,306
    Net interest income $3,964
    Total noninterest income $490
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $186
    Trading account gains and fees $0
    Additional Noninterest Income $304
    Pre-tax net operating income $581
    Securities gains (or losses, -) $0
    Income before extraordinary items $479
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $479
    Minority interest net income $0
    Net income $479
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $479

    Bank Of Erath's gross interest income from loans was $4,306,000.
    Bank Of Erath's net interest income from loans was $3,964,000.
    Bank Of Erath's fee based income from loans was $186,000.
    Bank Of Erath's net income from loans was $479,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $342
    Provision for credit losses $0
    Total noninterest expense $3,873
    Salaries and employee benefits $2,212
    Premises and equipment expense $461
    Additional noninterest expense $1,200
    Applicable income taxes $102
    Net charge-offs $-187
    Cash dividends $279

    Bank Of Erath's interest expense for loans was $342,000.
    Bank Of Erath's payroll and benefits expense were $2,212,000.
    Bank Of Erath's property, plant and equipment expenses $461,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 6.0%
    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 $103,453
    Deposits held in domestic offices $103,453
    Deposits by Individuals, partnerships, and corporations $94,115
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,338
    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 $57,054
    Demand deposits $43,157
    Nontransaction accounts $46,399
    Money market deposit accounts (MMDAs) $501
    Other savings deposits (excluding MMDAs) $19,460
    Total time deposits $26,438
    Total time and savings deposits $60,296
    Noninterest-bearing deposits $43,157
    Interest-bearing deposits $60,296
    Retail deposits $98,677
    IRAs and Keogh plan accounts $3,463
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $117,394
    Cash & Balances due from depository institutions $22,613
    Interest-bearing balances $18,610
    Total securities $33,805
    Federal funds sold & reverse repurchase $0
    Net loans and leases $58,560
    Loan and leases loss allowance $876
    Trading account assets $0
    Bank premises and fixed assets $1,306
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $1,110

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $117,394
    Total Liabilities $103,762
    Total deposits $103,453
    Interest-bearing deposits $60,296
    Deposits held in domestic offices $103,453
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $309

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $58,560
    Loan and leases loss allowance $876
    Total loans and leases (domestic) $59,436
    All real estate loans $47,039
    Real estate loans in domestic offices $47,039
    Construction and development loans $7,677
    Residential 1-4 family construction $2,158
    Other construction, all land development and other land $5,519
    Loans secured by nonfarm nonresidential properties $15,467
    Nonfarm nonresidential secured by owner-occupied properties $9,148
    Commercial real estate & other non-farm, non-residential $6,319
    Multifamily residential real estate $400
    1-4 family residential loans $19,892
    Farmland loans $3,603
    Loans held in foreign offices $0
    Farm loans $3,558
    Commercial and industrial loans $6,802
    To non-U.S. addressees $0
    Loans to individuals $2,037
    Credit card loans $0
    Related Plans $43
    Consumer Auto Loans $634
    Other loans to individuals $1,360
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $947
    Non 1-4 family restructured loans & leases $947
    Total loans and leases (foreign) $0

    Bank of Erath had $58,560,000 of loans outstanding in 2021. $47,039,000 of loans were in real estate loans. $7,677,000 of loans were in development loans. $400,000 of loans were in multifamily mortgage loans. $19,892,000 of loans were in 1-4 family mortgage loans. $3,558,000 of loans were in farm loans. $0 of loans were in credit card loans. $634,000 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 55 $15,467 $281,218
    Nonfarm, nonresidential loans - <$100k 55 $15,467 $281,218
    Commercial & Industrial, US addressed loans - <$1MM 142 $6,802 $47,901
    Commercial & Industrial, US addressed loans - <$100k 142 $6,802 $47,901
    Farmland loans - <$1MM 38 $3,603 $94,816
    Farmland loans - <$100k 38 $3,603 $94,816
    Agriculture operations loans - <$1MM 39 $3,558 $91,231
    Agriculture operations loans - <$100k 39 $3,558 $91,231