Great Oaks Bank Mortgage Rates, Fees & Info

Eastman, GA

LEI: 254900LW4R4AM7URY378

Tax ID: 58-0192860

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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

    Great Oaks Bank is a smaller bank specializing in Refi and Home Purchase loans. Great Oaks Bank has a high proportion of conventional loans. Their top markets by origination volume include: Savannah, Hinesville, and Warner Robins among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Great Oaks Bank has an 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

    90

    Origination Dollar Volume (All Markets)

    $13,980,000

    Employee count

    59

    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
    SAVANNAH, GA (FHA|USDA|VA) 23 $9,435,000 $410,217 $0 0.00%
    Outside of Metro Areas 58 $3,180,000 $54,828 $0 0.00%
    HINESVILLE, GA (FHA|USDA|VA) 2 $730,000 $365,000 $0 0.00%
    WARNER ROBINS, GA (FHA|USDA|VA) 7 $635,000 $90,714 $0 0.00%
    Great Oaks Bank's top markets include Savannah, Hinesville, and Warner Robins among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 90 $13,980,000 $155,333 $0 0.00%

    For 2020, Great Oaks Bank's most frequently originated type of loan was Conventional, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 46 $7,190,000 $156,304 $0 0.00%
    Home Purchase 37 $6,585,000 $177,973 $0 0.00%
    Home Improvement 6 $160,000 $26,667 $0 0.00%
    Other 1 $45,000 $45,000 $0 0.00%

    For 2020, Great Oaks Bank's most frequently cited loan purpose was Refi, with 46 originations. The 2nd most popular reason was Home Purchase, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 90 $13,980,000 $155,333 $0 0.00%

    For 2020, Great Oaks Bank's most frequently cited loan duration was Other, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 62 $3,020,000 $48,710 $0 0.00%
    $100k-200k 9 $1,285,000 $142,778 $0 0.00%
    $200k-400k 9 $2,645,000 $293,889 $0 0.00%
    $400k-600k 7 $3,595,000 $513,571 $0 0.00%
    $1MM+ 2 $2,790,000 $1,395,000 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2020 saw Great Oaks Bank place emphasis on $100,000 or less loans with 62 originations, totaling $3,020,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $995,000 $43,261 $0 0.00%
    $50k-75k 15 $1,065,000 $71,000 $0 0.00%
    $75k-100k 11 $785,000 $71,364 $0 0.00%
    $100k-150k 8 $1,350,000 $168,750 $0 0.00%
    $150k-250k 5 $2,195,000 $439,000 $0 0.00%
    $250k+ 2 $120,000 $60,000 $0 0.00%

    Great Oaks Bank lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $50k-75k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 90 $13,980,000 $155,333 $0 0.00%

    Great Oaks Bank lent most frequently to those with DTI ratios of Exempt%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 26 $7,470,000 $287,308 $0 0.00%
    White 59 $5,375,000 $91,102 $0 0.00%
    American Indian 1 $515,000 $515,000 $0 0.00%
    Not provided 1 $335,000 $335,000 $0 0.00%
    Black 3 $285,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.04%

    Great Oaks Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    96.67%

    Great Oaks Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 90 $13,980,000 $155,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,590,000 $647,500
    Single Family (1-4 Units):Manufactured 20 $990,000 $49,500
    Single Family (1-4 Units):Site-Built 66 $10,400,000 $157,576

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    GREAT WESTERN BANCORP, INC. Conventional home mortgage Improper use of your report 1 50.0%
    GREAT WESTERN BANCORP, INC. Other type of mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Great Oaks Bank 127 South Sixth Street Cochran, GA 31014 Full Service B&M $33,490
    Great Oaks Bank 390 Second Street Rhine, GA 31077 Full Service B&M $30,098
    Great Oaks Bank 5101 5th Ave Eastman, GA 31023 Full Service B&M $82,521
    Great Oaks Bank Northwest Corner Of Highway 144, Ford Avenue And Town Centre Richmond Hill, GA 31324 Full Service B&M $36,227

    For 2020, Great Oaks Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,318
    Net interest income $7,565
    Total noninterest income $1,353
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $581
    Trading account gains and fees $0
    Additional Noninterest Income $772
    Pre-tax net operating income $1,898
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,898
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,898
    Minority interest net income $0
    Net income $1,898
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,898

    Great Oaks Bank's gross interest income from loans was $8,318,000.
    Great Oaks Bank's net interest income from loans was $7,565,000.
    Great Oaks Bank's fee based income from loans was $581,000.
    Great Oaks Bank's net income from loans was $1,898,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $753
    Provision for credit losses $334
    Total noninterest expense $6,686
    Salaries and employee benefits $3,905
    Premises and equipment expense $807
    Additional noninterest expense $1,974
    Applicable income taxes $0
    Net charge-offs $8
    Cash dividends $775

    Great Oaks Bank's interest expense for loans was $753,000.
    Great Oaks Bank's payroll and benefits expense were $3,905,000.
    Great Oaks Bank's property, plant and equipment expenses $807,000.

    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 $203,537
    Deposits held in domestic offices $203,537
    Deposits by Individuals, partnerships, and corporations $197,918
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $5,619
    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 $88,570
    Demand deposits $54,786
    Nontransaction accounts $114,967
    Money market deposit accounts (MMDAs) $51,077
    Other savings deposits (excluding MMDAs) $17,006
    Total time deposits $46,883
    Total time and savings deposits $148,751
    Noninterest-bearing deposits $55,438
    Interest-bearing deposits $148,099
    Retail deposits $200,461
    IRAs and Keogh plan accounts $7,585
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $223,279
    Cash & Balances due from depository institutions $40,104
    Interest-bearing balances $37,278
    Total securities $24,381
    Federal funds sold & reverse repurchase $0
    Net loans and leases $146,010
    Loan and leases loss allowance $1,737
    Trading account assets $0
    Bank premises and fixed assets $6,172
    Other real estate owned $426
    Goodwill and other intangibles $0
    All other assets $6,186

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $223,279
    Total Liabilities $205,145
    Total deposits $203,537
    Interest-bearing deposits $148,099
    Deposits held in domestic offices $203,537
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,608

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $146,010
    Loan and leases loss allowance $1,737
    Total loans and leases (domestic) $147,747
    All real estate loans $104,522
    Real estate loans in domestic offices $104,522
    Construction and development loans $11,747
    Residential 1-4 family construction $7,280
    Other construction, all land development and other land $4,467
    Loans secured by nonfarm nonresidential properties $41,316
    Nonfarm nonresidential secured by owner-occupied properties $19,937
    Commercial real estate & other non-farm, non-residential $21,379
    Multifamily residential real estate $1,646
    1-4 family residential loans $35,174
    Farmland loans $14,639
    Loans held in foreign offices $0
    Farm loans $1,004
    Commercial and industrial loans $38,752
    To non-U.S. addressees $0
    Loans to individuals $3,450
    Credit card loans $8
    Related Plans $0
    Consumer Auto Loans $961
    Other loans to individuals $2,481
    All other loans & leases $19
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Great Oaks Bank had $146,010,000 of loans outstanding in 2020. $104,522,000 of loans were in real estate loans. $11,747,000 of loans were in development loans. $1,646,000 of loans were in multifamily mortgage loans. $35,174,000 of loans were in 1-4 family mortgage loans. $1,004,000 of loans were in farm loans. $8,000 of loans were in credit card loans. $961,000 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 110 $23,083 $209,845
    Nonfarm, nonresidential loans - <$100k 36 $1,206 $33,500
    Nonfarm, nonresidential loans - $100-250k 35 $4,468 $127,657
    Nonfarm, nonresidential loans - $250k-1MM 39 $17,409 $446,385
    Commercial & Industrial, US addressed loans - <$1MM 326 $20,342 $62,399
    Commercial & Industrial, US addressed loans - <$100k 267 $4,122 $15,438
    Commercial & Industrial, US addressed loans - $100-250k 27 $4,344 $160,889
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $11,876 $371,125
    Farmland loans - <$1MM 132 $12,329 $93,402
    Farmland loans - <$100k 86 $3,241 $37,686
    Farmland loans - $100-250k 30 $3,543 $118,100
    Farmland loans - $250k-1MM 16 $5,545 $346,563
    Agriculture operations loans - <$1MM 38 $1,004 $26,421
    Agriculture operations loans - <$100k 33 $370 $11,212
    Agriculture operations loans - $100-250k 5 $634 $126,800