Bank Of Zachary Mortgage Rates, Fees & Info

Zachary, LA

LEI: 254900J71IJLMJZJV608

Tax ID: 72-0125130

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Mortgage Data

Bank Data

Review & Overview

Bank Of Zachary is a smaller bank specializing in Home Purchase loans. Bank Of Zachary has a high proportion of conventional loans. Their top two markets are Baton Rouge and Pensacola .

Bank Of Zachary has an above 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

149

Origination Dollar Volume (All Markets)

$27,405,000

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
BATON ROUGE, LA (FHA|USDA|VA) 144 $26,140,000 $181,528 $0 0.00%
Outside of Metro Areas 4 $710,000 $177,500 $0 0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
Bank Of Zachary's top markets include Baton Rouge and Pensacola among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 149 $27,405,000 $183,926 $0 0.00%

    For 2018, Bank Of Zachary's most frequently originated type of loan was Conventional, with 149 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 79 $18,295,000 $231,582 $0 0.00%
    Refi 26 $2,960,000 $113,846 $0 0.00%
    Cash Out Refi 19 $3,355,000 $176,579 $0 0.00%
    Other 18 $2,250,000 $125,000 $0 0.00%
    Home Improvement 7 $545,000 $77,857 $0 0.00%

    For 2018, Bank Of Zachary's most frequently cited loan purpose was Home Purchase, with 79 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 149 $27,405,000 $183,926 $0 0.00%

    For 2018, Bank Of Zachary's most frequently cited loan duration was Other, with 149 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 51 $3,095,000 $60,686 $0 0.00%
    $100k-200k 49 $6,965,000 $142,143 $0 0.00%
    $200k-400k 35 $9,465,000 $270,429 $0 0.00%
    $400k-600k 11 $5,665,000 $515,000 $0 0.00%
    $600k-1MM 3 $2,215,000 $738,333 $0 0.00%

    2018 saw Bank Of Zachary place emphasis on $100,000 or less loans with 51 originations, totaling $3,095,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 27 $4,895,000 $181,296 $0 0.00%
    $150k-250k 22 $6,350,000 $288,636 $0 0.00%
    $50k-75k 16 $2,010,000 $125,625 $0 0.00%
    $75k-100k 16 $1,970,000 $123,125 $0 0.00%
    $50k or less 12 $1,180,000 $98,333 $0 0.00%
    $250k+ 10 $3,300,000 $330,000 $0 0.00%

    Bank Of Zachary lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $150k-250k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 149 $27,405,000 $183,926 $0 0.00%

    Bank Of Zachary lent most frequently to those with DTI ratios of Exempt%, with 149 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 103 $19,155,000 $185,971 $0 0.00%
    Not applicable 35 $6,725,000 $192,143 $0 0.00%
    Black 8 $1,030,000 $128,750 $0 0.00%
    Not provided 2 $370,000 $185,000 $0 0.00%
    Asian 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.59%

    Bank Of Zachary has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    85.91%

    Bank Of Zachary has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 149 $27,405,000 $183,926

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $475,000 $475,000
    Multifamily:Site-Built 2 $460,000 $230,000
    Single Family (1-4 Units):Manufactured 4 $320,000 $80,000
    Single Family (1-4 Units):Site-Built 142 $26,150,000 $184,155

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Zachary 13444 Hooper Road East Baton Rouge Parish, LA 70811 Full Service B&M $34,382
    Bank of Zachary 2210 Highway 64 Zachary, LA 70791 Full Service B&M $3,411
    Bank of Zachary 4743 Main Street Zachary, LA 70791 Full Service B&M $185,368

    For 2018, Bank Of Zachary had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,134
    Net interest income $9,288
    Total noninterest income $792
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $439
    Trading account gains and fees $0
    Additional Noninterest Income $353
    Pre-tax net operating income $2,299
    Securities gains (or losses, -) $31
    Income before extraordinary items $2,008
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,008
    Minority interest net income $0
    Net income $2,008
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,981

    Bank Of Zachary's gross interest income from loans was $10,134,000.
    Bank Of Zachary's net interest income from loans was $9,288,000.
    Bank Of Zachary's fee based income from loans was $439,000.
    Bank Of Zachary's net income from loans was $2,008,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $846
    Provision for credit losses $105
    Total noninterest expense $7,676
    Salaries and employee benefits $4,480
    Premises and equipment expense $704
    Additional noninterest expense $2,492
    Applicable income taxes $322
    Net charge-offs $395
    Cash dividends $700

    Bank Of Zachary's interest expense for loans was $846,000.
    Bank Of Zachary's payroll and benefits expense were $4,480,000.
    Bank Of Zachary's property, plant and equipment expenses $704,000.

    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 1.0%
    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 $215,588
    Deposits held in domestic offices $215,588
    Deposits by Individuals, partnerships, and corporations $184,802
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $30,783
    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 $122,671
    Demand deposits $72,450
    Nontransaction accounts $92,917
    Money market deposit accounts (MMDAs) $3,450
    Other savings deposits (excluding MMDAs) $51,899
    Total time deposits $37,568
    Total time and savings deposits $143,138
    Noninterest-bearing deposits $69,010
    Interest-bearing deposits $146,578
    Retail deposits $201,159
    IRAs and Keogh plan accounts $3,156
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $243,253
    Cash & Balances due from depository institutions $6,454
    Interest-bearing balances $3,471
    Total securities $66,160
    Federal funds sold & reverse repurchase $2,275
    Net loans and leases $161,775
    Loan and leases loss allowance $1,555
    Trading account assets $0
    Bank premises and fixed assets $2,706
    Other real estate owned $687
    Goodwill and other intangibles $0
    All other assets $3,196

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $243,253
    Total Liabilities $220,851
    Total deposits $215,588
    Interest-bearing deposits $146,578
    Deposits held in domestic offices $215,588
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $263

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $161,775
    Loan and leases loss allowance $1,555
    Total loans and leases (domestic) $163,330
    All real estate loans $145,566
    Real estate loans in domestic offices $145,566
    Construction and development loans $24,599
    Residential 1-4 family construction $7,731
    Other construction, all land development and other land $16,868
    Loans secured by nonfarm nonresidential properties $33,187
    Nonfarm nonresidential secured by owner-occupied properties $21,326
    Commercial real estate & other non-farm, non-residential $11,861
    Multifamily residential real estate $451
    1-4 family residential loans $86,866
    Farmland loans $463
    Loans held in foreign offices $0
    Farm loans $237
    Commercial and industrial loans $4,114
    To non-U.S. addressees $0
    Loans to individuals $4,623
    Credit card loans $0
    Related Plans $261
    Consumer Auto Loans $1,506
    Other loans to individuals $2,856
    All other loans & leases $8,790
    Loans to foreign governments and official institutions $0
    Other loans $1,600
    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 $61
    Non 1-4 family restructured loans & leases $61
    Total loans and leases (foreign) $0

    Bank of Zachary had $161,775,000 of loans outstanding in 2018. $145,566,000 of loans were in real estate loans. $24,599,000 of loans were in development loans. $451,000 of loans were in multifamily mortgage loans. $86,866,000 of loans were in 1-4 family mortgage loans. $237,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,506,000 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 91 $18,713 $205,637
    Nonfarm, nonresidential loans - <$100k 28 $1,105 $39,464
    Nonfarm, nonresidential loans - $100-250k 33 $3,915 $118,636
    Nonfarm, nonresidential loans - $250k-1MM 30 $13,693 $456,433
    Commercial & Industrial, US addressed loans - <$1MM 62 $2,891 $46,629
    Commercial & Industrial, US addressed loans - <$100k 49 $1,072 $21,878
    Commercial & Industrial, US addressed loans - $100-250k 10 $732 $73,200
    Commercial & Industrial, US addressed loans - $250k-1MM 3 $1,087 $362,333
    Farmland loans - <$1MM 5 $463 $92,600
    Farmland loans - $100-250k 5 $463 $92,600
    Agriculture operations loans - <$1MM 1 $237 $237,000
    Agriculture operations loans - $250k-1MM 1 $237 $237,000