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 Refi and Home Purchase loans. Bank Of Zachary has a high proportion of conventional loans. Their top markets by origination volume include: Baton Rouge, Gulfport, Daphne, Hammond, and Lake Charles among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

133

Origination Dollar Volume (All Markets)

$30,185,000

Employee count

56

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) 123 $26,175,000 $212,805 $0 0.00%
Outside of Metro Areas 5 $3,115,000 $623,000 $0 0.00%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
HAMMOND, LA (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
LAKE CHARLES, LA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Bank Of Zachary's top markets include Baton Rouge, Gulfport, Daphne, Hammond, and Lake Charles among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 133 $30,185,000 $226,955 $0 0.00%

    For 2021, Bank Of Zachary's most frequently originated type of loan was Conventional, with 133 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 64 $13,790,000 $215,469 $0 0.00%
    Home Purchase 61 $15,595,000 $255,656 $0 0.00%
    Other 5 $545,000 $109,000 $0 0.00%
    Home Improvement 3 $255,000 $85,000 $0 0.00%

    For 2021, Bank Of Zachary's most frequently cited loan purpose was Refi, with 64 originations. The 2nd most popular reason was Home Purchase, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 133 $30,185,000 $226,955 $0 0.00%

    For 2021, Bank Of Zachary's most frequently cited loan duration was Other, with 133 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 44 $6,100,000 $138,636 $0 0.00%
    $100,000 or less 37 $2,185,000 $59,054 $0 0.00%
    $200k-400k 29 $7,955,000 $274,310 $0 0.00%
    $400k-600k 17 $8,255,000 $485,588 $0 0.00%
    $1MM+ 3 $3,605,000 $1,201,667 $0 0.00%
    $600k-1MM 3 $2,085,000 $695,000 $0 0.00%

    2021 saw Bank Of Zachary place emphasis on $100k-200k loans with 44 originations, totaling $6,100,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $6,510,000 $232,500 $0 0.00%
    $50k or less 20 $2,230,000 $111,500 $0 0.00%
    $150k-250k 17 $4,265,000 $250,882 $0 0.00%
    $75k-100k 12 $2,110,000 $175,833 $0 0.00%
    $250k+ 11 $5,625,000 $511,364 $0 0.00%
    $50k-75k 8 $860,000 $107,500 $0 0.00%

    Bank Of Zachary lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k or less, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 133 $30,185,000 $226,955 $0 0.00%

    Bank Of Zachary lent most frequently to those with DTI ratios of Exempt%, with 133 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $22,575,000 $237,632 $0 0.00%
    Not applicable 29 $6,495,000 $223,966 $0 0.00%
    Black 8 $1,030,000 $128,750 $0 0.00%
    Asian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.91%

    Bank Of Zachary has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.45%

    Bank Of Zachary has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 133 $30,185,000 $226,955

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    133 $30,185,000 $226,955

    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 Zachary 13444 Hooper Road East Baton Rouge Parish, LA 70811 Full Service B&M $51,483
    Bank of Zachary 2210 Highway 64 Zachary, LA 70791 Full Service B&M $10,589
    Bank of Zachary 32340 La Highway 16 Denham Springs, LA 70726 Full Service B&M $8,078
    Bank of Zachary 348 Veterans Blvd Denham Springs, LA 70726 Limited, Administrative $0
    Bank of Zachary 4743 Main Street Zachary, LA 70791 Full Service B&M $218,596

    For 2021, Bank Of Zachary had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,214
    Net interest income $11,405
    Total noninterest income $2,823
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $351
    Trading account gains and fees $0
    Additional Noninterest Income $2,472
    Pre-tax net operating income $4,350
    Securities gains (or losses, -) $-36
    Income before extraordinary items $3,638
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,638
    Minority interest net income $0
    Net income $3,638
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,668

    Bank Of Zachary's gross interest income from loans was $12,214,000.
    Bank Of Zachary's net interest income from loans was $11,405,000.
    Bank Of Zachary's fee based income from loans was $351,000.
    Bank Of Zachary's net income from loans was $3,638,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $809
    Provision for credit losses $416
    Total noninterest expense $9,462
    Salaries and employee benefits $5,234
    Premises and equipment expense $974
    Additional noninterest expense $3,254
    Applicable income taxes $676
    Net charge-offs $82
    Cash dividends $1,100

    Bank Of Zachary's interest expense for loans was $809,000.
    Bank Of Zachary's payroll and benefits expense were $5,234,000.
    Bank Of Zachary's property, plant and equipment expenses $974,000.

    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 $295,349
    Deposits held in domestic offices $295,349
    Deposits by Individuals, partnerships, and corporations $250,637
    Deposits by U.S. Government $13
    Deposits by States and political subdivisions in the U.S. $44,699
    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 $155,032
    Demand deposits $112,361
    Nontransaction accounts $140,317
    Money market deposit accounts (MMDAs) $15,580
    Other savings deposits (excluding MMDAs) $79,506
    Total time deposits $45,232
    Total time and savings deposits $182,988
    Noninterest-bearing deposits $105,665
    Interest-bearing deposits $189,684
    Retail deposits $280,536
    IRAs and Keogh plan accounts $3,805
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $322,922
    Cash & Balances due from depository institutions $1,324
    Interest-bearing balances $9
    Total securities $133,113
    Federal funds sold & reverse repurchase $6,175
    Net loans and leases $173,703
    Loan and leases loss allowance $2,598
    Trading account assets $0
    Bank premises and fixed assets $4,028
    Other real estate owned $488
    Goodwill and other intangibles $0
    All other assets $4,091

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $322,922
    Total Liabilities $295,780
    Total deposits $295,349
    Interest-bearing deposits $189,684
    Deposits held in domestic offices $295,349
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $431

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $173,703
    Loan and leases loss allowance $2,598
    Total loans and leases (domestic) $176,301
    All real estate loans $160,116
    Real estate loans in domestic offices $160,116
    Construction and development loans $35,951
    Residential 1-4 family construction $12,294
    Other construction, all land development and other land $23,657
    Loans secured by nonfarm nonresidential properties $41,295
    Nonfarm nonresidential secured by owner-occupied properties $28,776
    Commercial real estate & other non-farm, non-residential $12,519
    Multifamily residential real estate $0
    1-4 family residential loans $81,325
    Farmland loans $1,545
    Loans held in foreign offices $0
    Farm loans $96
    Commercial and industrial loans $7,225
    To non-U.S. addressees $0
    Loans to individuals $3,688
    Credit card loans $0
    Related Plans $158
    Consumer Auto Loans $1,620
    Other loans to individuals $1,910
    All other loans & leases $5,176
    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 $249
    Non 1-4 family restructured loans & leases $201
    Total loans and leases (foreign) $0

    Bank of Zachary had $173,703,000 of loans outstanding in 2021. $160,116,000 of loans were in real estate loans. $35,951,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $81,325,000 of loans were in 1-4 family mortgage loans. $96,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,620,000 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 97 $21,828 $225,031
    Nonfarm, nonresidential loans - <$100k 21 $817 $38,905
    Nonfarm, nonresidential loans - $100-250k 33 $4,181 $126,697
    Nonfarm, nonresidential loans - $250k-1MM 43 $16,830 $391,395
    Commercial & Industrial, US addressed loans - <$1MM 134 $7,160 $53,433
    Commercial & Industrial, US addressed loans - <$100k 115 $2,011 $17,487
    Commercial & Industrial, US addressed loans - $100-250k 11 $1,049 $95,364
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $4,100 $512,500
    Farmland loans - <$1MM 4 $712 $178,000
    Farmland loans - $100-250k 2 $188 $94,000
    Farmland loans - $250k-1MM 2 $524 $262,000
    Agriculture operations loans - <$1MM 1 $96 $96,000
    Agriculture operations loans - $250k-1MM 1 $96 $96,000