Great Nations Bank Mortgage Rates, Fees & Info

Norman, OK

LEI: 254900TGS0SDEDP36K37

Tax ID: 26-2904689

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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 Nations Bank is a smaller bank specializing in Home Purchase loans. Great Nations Bank has a high proportion of conventional loans. Their top (well, only) market is Oklahoma City.

    Great Nations Bank has an average approval rate when compared to the average across all lenders. They have a below 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

    4

    Origination Dollar Volume (All Markets)

    $670,000

    Employee count

    13

    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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 4 $670,000 $167,500 $0 5.16%
    Great Nations Bank's top markets include and Oklahoma City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 4 $670,000 $167,500 $0 5.16%

    For 2020, Great Nations Bank's most frequently originated type of loan was Conventional, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 4 $670,000 $167,500 $0 5.16%

    For 2020, Great Nations Bank's most frequently cited loan purpose was Home Purchase, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 3 $265,000 $88,333 $0 5.46%
    3 Year 1 $405,000 $405,000 $0 4.25%

    For 2020, Great Nations Bank's most frequently cited loan duration was 5 Year, with 3 originations. The 2nd most popular length was 3 Year, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 3 $265,000 $88,333
    4-5% 1 $405,000 $405,000

    During 2020, Great Nations Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 3 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 2 $220,000 $110,000 $0 5.25%
    $100,000 or less 1 $45,000 $45,000 $0 5.88%
    $400k-600k 1 $405,000 $405,000 $0 4.25%

    2020 saw Great Nations Bank place emphasis on $100k-200k loans with 2 originations, totaling $220,000 in origination value.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 4 $670,000 $167,500 $0 5.16%

    Approval Rates

    Total approvals of all applications
    83.33%

    Great Nations Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    Great Nations Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 4 $670,000 $167,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $405,000 $405,000
    Single Family (1-4 Units):Site-Built 3 $265,000 $88,333

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    60-80% 3 $565,000 $188,333 $0 5.13%
    80-100% 1 $105,000 $105,000 $0 5.25%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Great Northern Mortgage Corp. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Great Nations Bank 2121 South Yukon Parkway, Suite 205 Yukon, OK 73099 Full Service B&M $4,419
    Great Nations Bank 2200 Alameda Street Norman, OK 73071 Full Service B&M $62,361

    For 2020, Great Nations Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,473
    Net interest income $2,254
    Total noninterest income $65
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $44
    Trading account gains and fees $0
    Additional Noninterest Income $21
    Pre-tax net operating income $237
    Securities gains (or losses, -) $0
    Income before extraordinary items $237
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $237
    Minority interest net income $0
    Net income $237
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $237

    Great Nations Bank's gross interest income from loans was $3,473,000.
    Great Nations Bank's net interest income from loans was $2,254,000.
    Great Nations Bank's fee based income from loans was $44,000.
    Great Nations Bank's net income from loans was $237,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,219
    Provision for credit losses $19
    Total noninterest expense $2,063
    Salaries and employee benefits $1,141
    Premises and equipment expense $330
    Additional noninterest expense $592
    Applicable income taxes $0
    Net charge-offs $36
    Cash dividends $0

    Great Nations Bank's interest expense for loans was $1,219,000.
    Great Nations Bank's payroll and benefits expense were $1,141,000.
    Great Nations Bank's property, plant and equipment expenses $330,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    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 $67,003
    Deposits held in domestic offices $67,003
    Deposits by Individuals, partnerships, and corporations $49,376
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $745
    Deposits by Commercial banks and other depository institutions in U.S. $16,882
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $8,764
    Demand deposits $7,385
    Nontransaction accounts $58,239
    Money market deposit accounts (MMDAs) $24,808
    Other savings deposits (excluding MMDAs) $609
    Total time deposits $32,822
    Total time and savings deposits $59,618
    Noninterest-bearing deposits $7,385
    Interest-bearing deposits $59,618
    Retail deposits $64,293
    IRAs and Keogh plan accounts $405
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $78,467
    Cash & Balances due from depository institutions $1,563
    Interest-bearing balances $1,249
    Total securities $2,924
    Federal funds sold & reverse repurchase $15,027
    Net loans and leases $55,451
    Loan and leases loss allowance $591
    Trading account assets $0
    Bank premises and fixed assets $2,306
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $1,196

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $78,467
    Total Liabilities $68,940
    Total deposits $67,003
    Interest-bearing deposits $59,618
    Deposits held in domestic offices $67,003
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,807
    Subordinated debt $0
    All other liabilities $130

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $55,451
    Loan and leases loss allowance $591
    Total loans and leases (domestic) $56,042
    All real estate loans $39,436
    Real estate loans in domestic offices $39,436
    Construction and development loans $5,486
    Residential 1-4 family construction $3,391
    Other construction, all land development and other land $2,095
    Loans secured by nonfarm nonresidential properties $22,816
    Nonfarm nonresidential secured by owner-occupied properties $16,787
    Commercial real estate & other non-farm, non-residential $6,029
    Multifamily residential real estate $2,657
    1-4 family residential loans $7,373
    Farmland loans $1,104
    Loans held in foreign offices $0
    Farm loans $1,056
    Commercial and industrial loans $15,043
    To non-U.S. addressees $0
    Loans to individuals $507
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $223
    Other loans to individuals $284
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Great Nations Bank had $55,451,000 of loans outstanding in 2020. $39,436,000 of loans were in real estate loans. $5,486,000 of loans were in development loans. $2,657,000 of loans were in multifamily mortgage loans. $7,373,000 of loans were in 1-4 family mortgage loans. $1,056,000 of loans were in farm loans. $0 of loans were in credit card loans. $223,000 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 37 $9,523 $257,378
    Nonfarm, nonresidential loans - <$100k 5 $254 $50,800
    Nonfarm, nonresidential loans - $100-250k 17 $2,283 $134,294
    Nonfarm, nonresidential loans - $250k-1MM 15 $6,986 $465,733
    Commercial & Industrial, US addressed loans - <$1MM 184 $11,291 $61,364
    Commercial & Industrial, US addressed loans - <$100k 125 $3,630 $29,040
    Commercial & Industrial, US addressed loans - $100-250k 43 $4,737 $110,163
    Commercial & Industrial, US addressed loans - $250k-1MM 16 $2,924 $182,750