The First State Bank Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 254900V16AQ21JMLXX78
Tax ID: 73-0242040
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Mortgage Data
Review & 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 by origination volume include: Oklahoma City, Napa, Dallas, Tulsa, and Palm Bay among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)The First State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The First State Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.50% | 3/19/23 |
| 30 Year Conventional Refi | 6.34% | 3/19/23 |
| 30 Year Cash-out Refi | 6.52% | 3/19/23 |
| 30 Year FHA Purchase | 7.24% | 3/19/23 |
| 30 Year VA Purchase | 6.11% | 3/19/23 |
| 30 Year VA Refi | 5.96% | 3/19/23 |
| 30 Year USDA Purchase | 6.34% | 3/19/23 |
| 15 Year Conventional Purchase | 5.81% | 3/19/23 |
| 15 Year Conventional Refi | 5.73% | 3/19/23 |
| 15 Year Cash-out Refi | 5.73% | 3/19/23 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
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 mortgage rate was
2.95%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.2%.
Relative Fees (Closing Costs)
The First State Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,625.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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) | 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% |
Similar Lenders
We use machine learning to identify the top lenders compared against The First State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 208
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Similarity Rank: 950
Product Mix
For 2021, The First State Bank's most frequently originated type of loan was Conventional, with 231 originations. Their 2nd most popular type was VA, with 29 originations.
Loan Reason
For 2021, The First State Bank's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Refi, with 82 originations.
Loan Duration/Length
For 2021, The First State Bank's most frequently cited loan duration was 30 Year, with 213 originations. The 2nd most popular length was 15 Year, with 33 originations.
Origination Fees/Closing Costs
The First State Bank's average total fees were $4,625, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 240 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 114 | $31,420,000 | $275,614 |
| 3-4% | 88 | $28,560,000 | $324,545 |
| <2.5% | 53 | $13,805,000 | $260,472 |
| 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 for loans was 2.95%, while their most frequently originated rate bucket for loans was 2.5-3%, with 114 originations.
Loan Sizing
2021 saw The First State Bank place emphasis on $200k-400k loans with 159 originations, totaling $44,885,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications98.09%
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 origination93.43%
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 |
LTV Distribution
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.