Town & Country Bank Mortgage Rates, Fees & Info

Salem, MO

LEI: 254900YOL8EJ9NBHIE43

Tax ID: 43-0241720

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Town & Country Bank is a smaller bank specializing in Home Purchase and Refi loans. Town & Country Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top (well, only) market is St. Louis.

Town & Country 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. Town & Country Bank is typically a low 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.73%	12/16/24
30 Year Conventional Refi	6.78%	12/16/24
30 Year Cash-out Refi	6.63%	12/16/24
30 Year VA Purchase	6.03%	12/16/24
30 Year VA Refi	6.27%	12/16/24
30 Year USDA Purchase	7.22%	12/16/24
15 Year Conventional Purchase	5.72%	12/16/24
15 Year Conventional Refi	6.57%	12/16/24
15 Year Cash-out Refi	6.57%	12/16/24
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.

Town & Country Bank Mortgage Calculator

Purchase Price:

Loan Amount:

Deposit Amount:

% Deposit:

Interest Rate:

Loan Type:

Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Town & Country Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

466

Origination Dollar Volume (All Markets)

$63,910,000

Employee count

155

Awards

Town & Country Bank 30 Year Conventional Loans silver

Town & Country Bank 30 Year Conventional Loans gold

Show all (3) awards

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
Outside of Metro Areas	392	$52,450,000	$133,801	$1,534	3.78%
ST. LOUIS, MO-IL (FHA\|USDA\|VA)	74	$11,460,000	$154,865	$2,053	3.45%

Town & Country Bank's top markets include and St. Louis among others.

Their top states include:

Missouri (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Town & Country Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Town & Country Bank
Similarity Rank: 328

Ozarks Federal Savings and Loan Association
Similarity Rank: 370

CapGrow Home Mortgage, LLC
Similarity Rank: 552

D.W. BROWN MORTGAGE CORP.
Similarity Rank: 627

JERSEY STATE BANK
Similarity Rank: 725

HNB National Bank
Similarity Rank: 910

First National Bank of Waterloo
Similarity Rank: 938

VANTAGE Credit Union
Similarity Rank: 1010

Providence Bank
Similarity Rank: 1102

U S WIDE FINANCIAL LLC
Similarity Rank: 1260

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	460	$63,360,000	$137,739	$1,575	3.72%
USDA	6	$550,000	$91,667	$3,135	3.63%

For 2021, Town & Country Bank's most frequently originated type of loan was Conventional, with 460 originations. Their 2nd most popular type was USDA, with 6 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	254	$36,170,000	$142,402	$1,712	3.85%
Refi	154	$19,890,000	$129,156	$1,393	3.65%
Cash Out Refi	35	$5,685,000	$162,429	$2,052	2.80%
Other	12	$990,000	$82,500	$1,247	4.44%
Home Improvement	11	$1,175,000	$106,818	$1,252	3.98%

For 2021, Town & Country Bank's most frequently cited loan purpose was Home Purchase, with 254 originations. The 2nd most popular reason was Refi, with 154 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	197	$31,625,000	$160,533	$1,713	3.67%
20 Year	111	$14,945,000	$134,640	$1,428	3.89%
15 Year	82	$8,610,000	$105,000	$1,542	3.29%
5 Year	22	$2,280,000	$103,636	$1,127	3.81%
Other	22	$3,100,000	$140,909	$1,514	4.42%
10 Year	20	$1,530,000	$76,500	$1,114	4.11%
1 Year	12	$1,820,000	$151,667	$1,990	4.00%

For 2021, Town & Country Bank's most frequently cited loan duration was 30 Year, with 197 originations. The 2nd most popular length was 20 Year, with 111 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	341	$47,975,000	$140,689
$1k-2k	1	$135,000	$135,000

Town & Country Bank's average total fees were $1,713, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 341 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	206	$33,590,000	$163,058
4-5%	147	$14,605,000	$99,354
2.5-3%	60	$9,100,000	$151,667
<2.5%	42	$5,880,000	$140,000
5-6%	11	$735,000	$66,818

During 2021, Town & Country Bank's average interest rate for loans was 3.67%, while their most frequently originated rate bucket for loans was 3-4%, with 206 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	194	$11,590,000	$59,742	$1,329	3.97%
$100k-200k	188	$26,230,000	$139,521	$1,745	3.56%
$200k-400k	67	$17,335,000	$258,731	$1,769	3.52%
$400k-600k	15	$6,985,000	$465,667	$2,349	3.43%
$1MM+	1	$1,165,000	$1,165,000	$559	3.99%
$600k-1MM	1	$605,000	$605,000	$0	3.99%

2021 saw Town & Country Bank place emphasis on $100,000 or less loans with 194 originations, totaling $11,590,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	130	$10,520,000	$80,923	$1,586	3.79%
$50k-75k	89	$10,695,000	$120,169	$1,562	3.79%
$75k-100k	72	$11,110,000	$154,306	$1,539	3.59%
$100k-150k	57	$9,895,000	$173,596	$1,760	3.66%
$150k-250k	31	$6,295,000	$203,065	$1,805	3.64%
$250k+	10	$3,160,000	$316,000	$1,786	3.90%

Town & Country Bank lent most frequently to those with incomes in the $50k or less range, with 130 originations. The second most popular income band? $50k-75k, with 89 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	129	$17,475,000	$135,465	$1,515	3.60%
30-36%	96	$14,190,000	$147,813	$1,682	3.63%
<20%	62	$6,910,000	$111,452	$1,505	3.60%
36%	17	$2,685,000	$157,941	$1,751	3.38%
37%	16	$2,350,000	$146,875	$1,759	3.68%
39%	9	$1,155,000	$128,333	$2,110	3.26%
38%	7	$1,125,000	$160,714	$1,998	3.66%
50-60%	4	$800,000	$200,000	$1,204	4.28%
40%	2	$340,000	$170,000	$1,695	3.75%
41%	2	$440,000	$220,000	$1,466	3.38%
47%	1	$85,000	$85,000	$1,237	4.00%
49%	1	$465,000	$465,000	$1,660	4.00%
44%	1	$55,000	$55,000	$879	5.00%
>60%	1	$155,000	$155,000	$920	4.00%

Town & Country Bank lent most frequently to those with DTI ratios of 20-30%, with 129 originations. The next most common DTI ratio? 30-36%, with 96 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	395	$52,405,000	$132,671	$1,595	3.70%
Not applicable	55	$8,835,000	$160,636	$1,189	3.94%
Not provided	12	$2,290,000	$190,833	$1,736	3.61%
Asian	1	$195,000	$195,000	$1,523	3.50%
American Indian	2	$100,000	$50,000	$2,073	2.88%
Black	1	$85,000	$85,000	$2,132	4.00%

Approval Rates

Total approvals of all applications
87.64%

Town & Country Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.04%

Town & Country Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
0.0	1	$25,000	$25,000
495.0	1	$45,000	$45,000
NA	464	$63,840,000	$137,586

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	466	$63,910,000	$137,146

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	36	$3,390,000	$94,167	$1,508	3.62%
40-60%	102	$14,070,000	$137,941	$1,609	3.52%
60-80%	189	$27,655,000	$146,323	$1,567	3.74%
80-100%	126	$17,750,000	$140,873	$1,709	3.87%
Over 100%	3	$325,000	$108,333	$2,102	4.63%
Under 20%	10	$720,000	$72,000	$1,050	3.81%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
Timios, Inc.	Conventional home mortgage	Trouble during payment process	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Town & Country Bank	325 North Jefferson St. James, MO 65559	Full Service B&M	$38,729
Town & Country Bank	1009 East Highway 32/72 Salem, MO 65560	Full Service B&M	$104,445
Town & Country Bank	1106 Springfield Road Ava, MO 65608	Full Service B&M	$70,794
Town & Country Bank	120 Hwy 32 W Licking, MO 65542	Full Service B&M	$71,553
Town & Country Bank	1645 Old State Road South Pevely, MO 63070	Full Service B&M	$37,660
Town & Country Bank	1804 North Bishop Rolla, MO 65401	Full Service B&M	$40,742
Town & Country Bank	188 East Pine Street Bourbon, MO 65441	Full Service B&M	$65,406
Town & Country Bank	400 West Scenic Rivers Boulevard Salem, MO 65560	Full Service B&M	$13,112
Town & Country Bank	910 North Main Mountain Grove, MO 65711	Full Service B&M	$68,890
Town & Country Bank	910 South Bishop Rolla, MO 65401	Full Service B&M	$71,115

For 2021, Town & Country Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$24,094
Net interest income	$22,355
Total noninterest income	$5,120
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$817
Trading account gains and fees	$0
Additional Noninterest Income	$4,303
Pre-tax net operating income	$11,065
Securities gains (or losses, -)	$0
Income before extraordinary items	$11,065
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$11,065
Minority interest net income	$0
Net income	$11,065
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$11,065

Town & Country Bank's gross interest income from loans was $24,094,000.
Town & Country Bank's net interest income from loans was $22,355,000.
Town & Country Bank's fee based income from loans was $817,000.
Town & Country Bank's net income from loans was $11,065,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,739
Provision for credit losses	$-1
Total noninterest expense	$16,411
Salaries and employee benefits	$10,747
Premises and equipment expense	$1,713
Additional noninterest expense	$3,951
Applicable income taxes	$0
Net charge-offs	$126
Cash dividends	$5,877

Town & Country Bank's interest expense for loans was $1,739,000.
Town & Country Bank's payroll and benefits expense were $10,747,000.
Town & Country Bank's property, plant and equipment expenses $1,713,000.

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	$590,767
Deposits held in domestic offices	$590,767
Deposits by Individuals, partnerships, and corporations	$546,681
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$44,085
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	$54,015
Demand deposits	$34,186
Nontransaction accounts	$536,751
Money market deposit accounts (MMDAs)	$74,572
Other savings deposits (excluding MMDAs)	$328,648
Total time deposits	$133,532
Total time and savings deposits	$556,580
Noninterest-bearing deposits	$152,929
Interest-bearing deposits	$437,838
Retail deposits	$576,816
IRAs and Keogh plan accounts	$23,729
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$691,597
Cash & Balances due from depository institutions	$94,053
Interest-bearing balances	$87,352
Total securities	$168,534
Federal funds sold & reverse repurchase	$1,578
Net loans and leases	$398,731
Loan and leases loss allowance	$5,196
Trading account assets	$0
Bank premises and fixed assets	$14,637
Other real estate owned	$55
Goodwill and other intangibles	$5,035
All other assets	$8,974

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$691,597
Total Liabilities	$619,089
Total deposits	$590,767
Interest-bearing deposits	$437,838
Deposits held in domestic offices	$590,767
% insured (estimated)	$85
Federal funds purchased and repurchase agreements	$26,443
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$1,879

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$398,731
Loan and leases loss allowance	$5,196
Total loans and leases (domestic)	$403,927
All real estate loans	$350,872
Real estate loans in domestic offices	$350,872
Construction and development loans	$23,715
Residential 1-4 family construction	$19,042
Other construction, all land development and other land	$4,673
Loans secured by nonfarm nonresidential properties	$53,698
Nonfarm nonresidential secured by owner-occupied properties	$16,014
Commercial real estate & other non-farm, non-residential	$37,684
Multifamily residential real estate	$7,136
1-4 family residential loans	$184,628
Farmland loans	$81,695
Loans held in foreign offices	$0
Farm loans	$16,134
Commercial and industrial loans	$15,863
To non-U.S. addressees	$0
Loans to individuals	$17,515
Credit card loans	$0
Related Plans	$43
Consumer Auto Loans	$12,783
Other loans to individuals	$4,689
All other loans & leases	$3,543
Loans to foreign governments and official institutions	$0
Other loans	$808
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	$54
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Town & Country Bank had $398,731,000 of loans outstanding in 2021. $350,872,000 of loans were in real estate loans. $23,715,000 of loans were in development loans. $7,136,000 of loans were in multifamily mortgage loans. $184,628,000 of loans were in 1-4 family mortgage loans. $16,134,000 of loans were in farm loans. $0 of loans were in credit card loans. $12,783,000 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	282	$39,808	$141,163
Nonfarm, nonresidential loans - <$100k	163	$6,813	$41,798
Nonfarm, nonresidential loans - $100-250k	69	$10,821	$156,826
Nonfarm, nonresidential loans - $250k-1MM	50	$22,174	$443,480
Commercial & Industrial, US addressed loans - <$1MM	440	$15,105	$34,330
Commercial & Industrial, US addressed loans - <$100k	380	$6,997	$18,413
Commercial & Industrial, US addressed loans - $100-250k	42	$3,603	$85,786
Commercial & Industrial, US addressed loans - $250k-1MM	18	$4,505	$250,278
Farmland loans - <$1MM	490	$59,279	$120,978
Farmland loans - <$100k	273	$12,404	$45,436
Farmland loans - $100-250k	153	$25,282	$165,242
Farmland loans - $250k-1MM	64	$21,593	$337,391
Agriculture operations loans - <$1MM	704	$15,483	$21,993
Agriculture operations loans - <$100k	683	$12,429	$18,198
Agriculture operations loans - $100-250k	20	$2,793	$139,650
Agriculture operations loans - $250k-1MM	1	$261	$261,000