The First State Bank Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 254900V16AQ21JMLXX78
Tax ID: 73-0242040
2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Overview
The First State Bank is a smaller bank specializing in Home Purchase and Refi loans. The First State Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Oklahoma City, Napa, Dallas, Tulsa, and Palm Bay among others. The First State Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. The First State Bank is typically an average fee lendor.Originations
289Origination Dollar Volume (All Markets)
$84,995,000Awards
The First State Bank - 2021
The First State Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
The First State Bank's average 30 year fixed rate mortgage of loans were
2.95%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.2%.
Relative Fees
The First State Bank's average total fees for a 30 year fixed rate
mortgage are $4,625.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 266 | $76,330,000 | $286,955 | $4,396 | 3.08% |
| NAPA, CA (FHA|USDA|VA) | 1 | $2,605,000 | $2,605,000 | $0 | 3.85% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 5 | $2,175,000 | $435,000 | $5,200 | 2.98% |
| TULSA, OK (FHA|USDA|VA) | 3 | $865,000 | $288,333 | $3,774 | 2.92% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $4,673 | 3.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $8,527 | 3.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $8,665 | 2.88% |
| Tahlequah, OK (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,329 | 2.38% |
| OCALA, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,031 | 2.75% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,031 | 3.38% |
| Shawnee, OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 4.50% |
| Stillwater, OK (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $7,586 | 2.38% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $1,931 | 2.38% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 4.10% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,672 | 2.88% |
| GREENVILLE, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,291 | 3.13% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,171 | 4.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,395 | 3.88% |
The First State Bank's top markets include Oklahoma City, Napa, Dallas, Tulsa, and Palm Bay among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 231 | $69,245,000 | $299,762 | $3,503 | 3.18% |
| VA | 29 | $9,055,000 | $312,241 | $7,519 | 2.56% |
| FHA | 28 | $6,480,000 | $231,429 | $7,589 | 2.84% |
| USDA | 1 | $215,000 | $215,000 | $5,138 | 2.38% |
For the 2021 period, The First State Bank's most frequently originated loan type of loans were Conventional, with 231 originations. Their 2nd most popular type is VA, with 29 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 170 | $46,620,000 | $274,235 | $4,995 | 3.02% |
| Refi | 82 | $23,630,000 | $288,171 | $3,336 | 3.17% |
| Cash Out Refi | 34 | $13,770,000 | $405,000 | $3,639 | 3.10% |
| Home Improvement | 2 | $250,000 | $125,000 | $0 | 4.55% |
| Other | 1 | $725,000 | $725,000 | $0 | 4.00% |
For the 2021, The First State Bank's most frequently cited loan purpose of loans were Home Purchase, with 170 originations. The 2nd most popular reason of loans were Refi, with 82 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 213 | $57,725,000 | $271,009 | $4,625 | 2.95% |
| 15 Year | 33 | $8,125,000 | $246,212 | $3,414 | 2.36% |
| 5 Year | 24 | $9,590,000 | $399,583 | $0 | 4.44% |
| Other | 7 | $4,845,000 | $692,143 | $916 | 4.39% |
| 3 Year | 5 | $2,725,000 | $545,000 | $5,051 | 4.50% |
| 20 Year | 3 | $1,095,000 | $365,000 | $3,590 | 2.92% |
| 1 Year | 3 | $655,000 | $218,333 | $1,435 | 4.37% |
| 10 Year | 1 | $235,000 | $235,000 | $2,853 | 2.25% |
For the 2021, The First State Bank's most frequently cited loan length of loans were 30 Year, with 213 originations. The 2nd most popular length of loans were 15 Year, with 33 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $1k-2k | 240 | $65,870,000 | $274,458 |
| $2k-3k | 6 | $1,400,000 | $233,333 |
| $<1k | 3 | $515,000 | $171,667 |
| $3k-4k | 3 | $715,000 | $238,333 |
| $5k+ | 1 | $215,000 | $215,000 |
$4,625 of loans were The First State Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 240 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 113 | $31,215,000 | $276,239 |
| 3-4% | 88 | $28,560,000 | $324,545 |
| <2.5% | 54 | $14,010,000 | $259,444 |
| 4-5% | 33 | $10,875,000 | $329,545 |
| 5-6% | 1 | $335,000 | $335,000 |
During 2021, The First State Bank's average interest rate of loans were 2.95%, while their most frequently originated rate bucket of loans were 2.5-3%, with 113 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 159 | $44,885,000 | $282,296 | $4,896 | 2.97% |
| $100k-200k | 74 | $11,530,000 | $155,811 | $3,398 | 3.07% |
| $400k-600k | 29 | $14,315,000 | $493,621 | $4,568 | 2.81% |
| $100,000 or less | 20 | $1,520,000 | $76,000 | $3,222 | 4.08% |
| $1MM+ | 5 | $11,045,000 | $2,209,000 | $5,051 | 4.07% |
| $600k-1MM | 2 | $1,700,000 | $850,000 | $0 | 4.25% |
2021 saw The First State Bank place emphasis on $200k-400k loans with 159 originations, totaling $44,885,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $75k-100k | 56 | $13,950,000 | $249,107 | $5,248 | 2.95% |
| $50k-75k | 55 | $11,955,000 | $217,364 | $4,906 | 2.78% |
| $100k-150k | 54 | $15,680,000 | $290,370 | $4,059 | 2.93% |
| $150k-250k | 45 | $15,285,000 | $339,667 | $3,843 | 3.00% |
| $50k or less | 23 | $3,935,000 | $171,087 | $4,088 | 2.83% |
| $250k+ | 21 | $10,215,000 | $486,429 | $3,530 | 2.99% |
The First State Bank lent most frequently to those with incomes in the $75k-100k range, with 56 originations. The second most popular income band? $50k-75k, with 55 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 66 | $17,880,000 | $270,909 | $3,801 | 2.87% |
| 30-36% | 36 | $10,890,000 | $302,500 | $4,259 | 2.86% |
| <20% | 26 | $6,770,000 | $260,385 | $3,249 | 3.11% |
| 44% | 15 | $3,905,000 | $260,333 | $4,231 | 2.83% |
| 40% | 11 | $2,535,000 | $230,455 | $4,543 | 2.89% |
| 41% | 11 | $3,385,000 | $307,727 | $4,256 | 2.86% |
| 50-60% | 10 | $2,710,000 | $271,000 | $9,145 | 2.73% |
| 43% | 10 | $2,560,000 | $256,000 | $4,357 | 2.93% |
| 42% | 9 | $2,235,000 | $248,333 | $6,073 | 3.01% |
| 38% | 8 | $2,420,000 | $302,500 | $4,819 | 2.97% |
| 46% | 8 | $1,880,000 | $235,000 | $5,054 | 3.00% |
| 47% | 8 | $1,970,000 | $246,250 | $4,775 | 2.95% |
| 45% | 7 | $2,195,000 | $313,571 | $4,365 | 2.88% |
| 49% | 7 | $1,965,000 | $280,714 | $4,910 | 2.82% |
| 48% | 7 | $2,055,000 | $293,571 | $5,527 | 3.05% |
| 37% | 5 | $1,155,000 | $231,000 | $5,460 | 3.10% |
| 39% | 4 | $3,650,000 | $912,500 | $4,927 | 3.15% |
| 36% | 4 | $1,190,000 | $297,500 | $3,832 | 3.13% |
The First State Bank lent most frequently to those with DTI ratios of 20-30%, with 66 originations. The next most common DTI ratio? 30-36%, with 36 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 223 | $63,465,000 | $284,596 | $4,364 | 2.90% |
| Not applicable | 32 | $12,230,000 | $382,188 | $0 | 4.47% |
| Black | 16 | $4,190,000 | $261,875 | $4,777 | 3.05% |
| Asian | 15 | $4,145,000 | $276,333 | $5,139 | 2.83% |
| Asian Indian | 1 | $525,000 | $525,000 | $2,893 | 2.63% |
| Not provided | 1 | $265,000 | $265,000 | $3,630 | 3.38% |
| American Indian | 1 | $175,000 | $175,000 | $2,995 | 3.50% |
Approval Rates
Total approvals of all applications96.81%
The First State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination91.16%
The First State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 289 | $84,995,000 | $294,100 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 289 | $84,995,000 | $294,100 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 6 | $1,870,000 | $311,667 | $2,763 | 3.88% |
| 40-60% | 25 | $7,175,000 | $287,000 | $3,384 | 3.13% |
| 60-80% | 107 | $34,875,000 | $325,935 | $3,505 | 3.21% |
| 80-100% | 138 | $37,450,000 | $271,377 | $4,612 | 2.94% |
| Over 100% | 10 | $3,010,000 | $301,000 | $13,277 | 2.75% |
| Under 20% | 3 | $615,000 | $205,000 | $916 | 4.45% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The First State Bank | 2600 South Douglas Boulevard Midwest City, OK 73130 | Full Service B&M | $54,970 |
| The First State Bank | 3030 Nw Expressway Suite 1 Oklahoma City, OK 73112 | Full Service B&M | $261,172 |
| The First State Bank | 612 Willard Avenue Canute, OK 73626 | Full Service B&M | $31,282 |
For 2021, The First State Bank had 3 branches.
