Waggoner National Bank Mortgage Rates, Fees & Info

Vernon, TX

LEI: 2549004NC9AQ00THAD39

Tax ID: 75-0634430

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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

    Waggoner National Bank is a smaller bank specializing in Home Purchase loans. Waggoner National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Vernon, Wichita Falls, Corpus Christi, and Altus among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Waggoner National Bank has an average approval rate when compared to the average across all lenders. They have an 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

    87

    Origination Dollar Volume (All Markets)

    $4,615,000

    Employee count

    61

    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
    Vernon, TX (FHA|USDA|VA) 57 $2,895,000 $50,789 $1,137 7.76%
    WICHITA FALLS, TX (FHA|USDA|VA) 22 $1,020,000 $46,364 $962 7.00%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $290,000 $145,000 $0 8.45%
    Altus, OK (FHA|USDA|VA) 1 $255,000 $255,000 $0 7.19%
    Outside of Metro Areas 5 $155,000 $31,000 $1,351 8.39%
    Waggoner National Bank's top markets include Vernon, Wichita Falls, Corpus Christi, and Altus among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $3,600,000 $47,368 $1,133 7.74%
    HELOC 11 $1,015,000 $92,273 n/a 6.71%

    For 2018, Waggoner National Bank's most frequently originated type of loan was Conventional, with 76 originations. Their 2nd most popular type was HELOC, with 11 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 54 $3,220,000 $59,630 $1,380 7.17%
    Home Improvement 14 $550,000 $39,286 $731 8.01%
    Other 12 $700,000 $58,333 $876 8.29%
    Refi 7 $145,000 $20,714 $880 9.10%

    For 2018, Waggoner National Bank's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Home Improvement, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 66 $3,100,000 $46,970 $1,213 7.69%
    15 Year 11 $845,000 $76,818 $1,168 6.50%
    Other 4 $270,000 $67,500 $475 8.86%
    10 Year 3 $75,000 $25,000 $748 9.83%
    1 Year 2 $220,000 $110,000 $0 6.00%
    20 Year 1 $105,000 $105,000 $0 6.25%

    For 2018, Waggoner National Bank's most frequently cited loan duration was 5 Year, with 66 originations. The 2nd most popular length was 15 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 22 $1,120,000 $50,909
    $1k-2k 1 $65,000 $65,000

    Waggoner National Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 22 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 35 $1,405,000 $40,143
    6-7% 25 $1,185,000 $47,400
    7-8% 11 $725,000 $65,909
    5-6% 8 $640,000 $80,000
    4-5% 7 $575,000 $82,143
    3-4% 1 $85,000 $85,000

    During 2018, Waggoner National Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was Over 8%, with 35 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 76 $2,770,000 $36,447 $1,041 7.67%
    $100k-200k 8 $1,130,000 $141,250 $1,904 7.04%
    $200k-400k 3 $715,000 $238,333 $0 7.69%

    2018 saw Waggoner National Bank place emphasis on $100,000 or less loans with 76 originations, totaling $2,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $625,000 $32,895 $1,048 8.31%
    $150k-250k 18 $1,270,000 $70,556 $2,025 6.80%
    $100k-150k 16 $530,000 $33,125 $1,346 7.89%
    $50k-75k 16 $650,000 $40,625 $1,103 8.56%
    $75k-100k 8 $440,000 $55,000 $1,099 7.11%
    $250k+ 4 $630,000 $157,500 $0 6.61%

    Waggoner National Bank lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $150k-250k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 12 $610,000 $50,833 $1,258 7.96%
    30-36% 9 $445,000 $49,444 $1,048 8.65%
    41% 7 $145,000 $20,714 $0 8.39%
    20-30% 7 $465,000 $66,429 $1,087 7.96%
    50-60% 3 $185,000 $61,667 $2,093 8.06%
    40% 3 $65,000 $21,667 $769 10.45%
    36% 2 $40,000 $20,000 $590 8.27%
    39% 2 $30,000 $15,000 $661 10.42%
    47% 1 $35,000 $35,000 $898 10.15%
    37% 1 $45,000 $45,000 $1,123 7.24%
    >60% 1 $145,000 $145,000 $1,875 6.99%
    42% 1 $25,000 $25,000 $0 6.99%
    43% 1 $15,000 $15,000 $535 9.45%
    44% 1 $185,000 $185,000 $0 10.65%

    Waggoner National Bank lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 30-36%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $4,250,000 $53,125 $1,146 7.51%
    Not applicable 3 $245,000 $81,667 $0 6.08%
    Black 4 $120,000 $30,000 $1,030 10.84%

    Approval Rates

    Total approvals of all applications
    89.42%

    Waggoner National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.10%

    Waggoner National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 87 $4,615,000 $53,046

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $400,000 $33,333
    Single Family (1-4 Units):Manufactured 1 $5,000 $5,000
    Single Family (1-4 Units):Site-Built 74 $4,210,000 $56,892

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $565,000 $33,235 $724 8.10%
    40-60% 10 $370,000 $37,000 $1,286 8.18%
    60-80% 38 $2,220,000 $58,421 $1,331 7.37%
    80-100% 9 $1,085,000 $120,556 $1,371 7.62%
    Under 20% 13 $375,000 $28,846 $389 7.25%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Waggoner National Bank of Vernon 1818 Texas Street Vernon, TX 76384 Full Service B&M $209,489
    The Waggoner National Bank of Vernon 401 West Front Street Electra, TX 76360 Full Service B&M $36,541

    For 2018, Waggoner National Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,026
    Net interest income $11,994
    Total noninterest income $3,042
    Gross Fiduciary activities income $1,085
    Service charges on deposit accounts $994
    Trading account gains and fees $0
    Additional Noninterest Income $963
    Pre-tax net operating income $8,092
    Securities gains (or losses, -) $134
    Income before extraordinary items $8,226
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,226
    Minority interest net income $0
    Net income $8,226
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,092

    Waggoner National Bank's gross interest income from loans was $14,026,000.
    Waggoner National Bank's net interest income from loans was $11,994,000.
    Waggoner National Bank's fee based income from loans was $994,000.
    Waggoner National Bank's net income from loans was $8,226,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,032
    Provision for credit losses $450
    Total noninterest expense $6,494
    Salaries and employee benefits $3,980
    Premises and equipment expense $593
    Additional noninterest expense $1,921
    Applicable income taxes $0
    Net charge-offs $338
    Cash dividends $7,341

    Waggoner National Bank's interest expense for loans was $2,032,000.
    Waggoner National Bank's payroll and benefits expense were $3,980,000.
    Waggoner National Bank's property, plant and equipment expenses $593,000.

    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 4.0%
    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 $248,340
    Deposits held in domestic offices $248,340
    Deposits by Individuals, partnerships, and corporations $204,254
    Deposits by U.S. Government $26
    Deposits by States and political subdivisions in the U.S. $44,060
    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 $109,371
    Demand deposits $36,491
    Nontransaction accounts $138,969
    Money market deposit accounts (MMDAs) $59,757
    Other savings deposits (excluding MMDAs) $9,983
    Total time deposits $69,229
    Total time and savings deposits $211,849
    Noninterest-bearing deposits $36,491
    Interest-bearing deposits $211,849
    Retail deposits $223,300
    IRAs and Keogh plan accounts $11,412
    Brokered deposits $5,053
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $294,284
    Cash & Balances due from depository institutions $10,584
    Interest-bearing balances $1,275
    Total securities $71,484
    Federal funds sold & reverse repurchase $0
    Net loans and leases $192,800
    Loan and leases loss allowance $5,344
    Trading account assets $0
    Bank premises and fixed assets $1,985
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $17,431

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $294,284
    Total Liabilities $257,788
    Total deposits $248,340
    Interest-bearing deposits $211,849
    Deposits held in domestic offices $248,340
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $7,000
    Subordinated debt $0
    All other liabilities $2,448

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $192,800
    Loan and leases loss allowance $5,344
    Total loans and leases (domestic) $198,144
    All real estate loans $141,191
    Real estate loans in domestic offices $141,191
    Construction and development loans $16,199
    Residential 1-4 family construction $7,045
    Other construction, all land development and other land $9,154
    Loans secured by nonfarm nonresidential properties $42,758
    Nonfarm nonresidential secured by owner-occupied properties $21,236
    Commercial real estate & other non-farm, non-residential $21,522
    Multifamily residential real estate $9,687
    1-4 family residential loans $20,710
    Farmland loans $51,837
    Loans held in foreign offices $0
    Farm loans $11,388
    Commercial and industrial loans $18,073
    To non-U.S. addressees $0
    Loans to individuals $16,258
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $5,318
    Other loans to individuals $10,940
    All other loans & leases $12,665
    Loans to foreign governments and official institutions $0
    Other loans $9,937
    Loans to depository institutions and acceptances of other banks $2,628
    Loans not secured by real estate $0
    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

    Waggoner National Bank had $192,800,000 of loans outstanding in 2018. $141,191,000 of loans were in real estate loans. $16,199,000 of loans were in development loans. $9,687,000 of loans were in multifamily mortgage loans. $20,710,000 of loans were in 1-4 family mortgage loans. $11,388,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,318,000 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 85 $10,706 $125,953
    Nonfarm, nonresidential loans - <$100k 46 $1,319 $28,674
    Nonfarm, nonresidential loans - $100-250k 27 $4,172 $154,519
    Nonfarm, nonresidential loans - $250k-1MM 12 $5,215 $434,583
    Commercial & Industrial, US addressed loans - <$1MM 151 $11,026 $73,020
    Commercial & Industrial, US addressed loans - <$100k 127 $3,242 $25,528
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,929 $137,786
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $5,855 $585,500
    Farmland loans - <$1MM 172 $21,296 $123,814
    Farmland loans - <$100k 74 $3,150 $42,568
    Farmland loans - $100-250k 65 $8,963 $137,892
    Farmland loans - $250k-1MM 33 $9,183 $278,273
    Agriculture operations loans - <$1MM 262 $9,685 $36,966
    Agriculture operations loans - <$100k 226 $4,177 $18,482
    Agriculture operations loans - $100-250k 25 $2,647 $105,880
    Agriculture operations loans - $250k-1MM 11 $2,861 $260,091