The Tipton Latham Bank Mortgage Rates, Fees & Info
Tipton, MOLEI: 5493000SHD1NU031PX30
Tax ID: 43-1294800
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Mortgage Data
Bank Data
Review & Overview
The Tipton Latham Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. The Tipton Latham Bank has a high proportion of conventional loans. The Tipton Latham Bank has an average proportion of conventional loans. Their top two markets are Jefferson City and Columbia .The Tipton Latham 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.
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Originations
47Origination Dollar Volume (All Markets)
$4,755,000Employee count
21Top 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 |
|---|---|---|---|---|---|
| JEFFERSON CITY, MO (FHA|USDA|VA) | 25 | $2,315,000 | $92,600 | $0 | 5.80% |
| Outside of Metro Areas | 16 | $1,780,000 | $111,250 | $0 | 5.86% |
| COLUMBIA, MO (FHA|USDA|VA) | 6 | $660,000 | $110,000 | $0 | 5.42% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 38 | $4,040,000 | $106,316 | $0 | 5.77% |
| Conventional | 9 | $715,000 | $79,444 | $0 | 0.00% |
For 2018, The Tipton Latham Bank's most frequently originated type of loan was Conventional, with 38 originations. Their 2nd most popular type was Conventional, with 9 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 21 | $2,365,000 | $112,619 | $0 | 5.79% |
| Refi | 13 | $1,405,000 | $108,077 | $0 | 5.64% |
| Cash Out Refi | 13 | $985,000 | $75,769 | $0 | 5.88% |
For 2018, The Tipton Latham Bank's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
For 2018, The Tipton Latham Bank's most frequently cited loan duration was Other, with 39 originations. The 2nd most popular length was 5 Year, with 5 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 32 | $3,830,000 | $119,688 |
The Tipton Latham Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 32 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 26 | $3,180,000 | $122,308 |
| 6-7% | 7 | $375,000 | $53,571 |
| 4-5% | 3 | $445,000 | $148,333 |
| 7-8% | 1 | $15,000 | $15,000 |
| Over 8% | 1 | $25,000 | $25,000 |
During 2018, The Tipton Latham Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 26 originations.
Loan Sizing
2018 saw The Tipton Latham Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,475,000 in origination value.
Applicant Income
The Tipton Latham Bank lent most frequently to those with incomes in the $50k-75k range, with 17 originations. The second most popular income band? $50k or less, with 13 originations.
Applicant Debt to Income Ratio
The Tipton Latham Bank lent most frequently to those with DTI ratios of Exempt%, with 9 originations. The next most common DTI ratio? 20-30%, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 47 | $4,755,000 | $101,170 | $0 | 5.77% |
Approval Rates
Total approvals of all applications85.96%
The Tipton Latham Bank has an average approval rate.
Pick Rate
Approvals leading to origination95.74%
The Tipton Latham 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 |
|---|---|---|---|
| 0.0 | 31 | $3,785,000 | $122,097 |
| Exempt | 9 | $715,000 | $79,444 |
| NA | 7 | $255,000 | $36,429 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 9 | $475,000 | $52,778 |
| Single Family (1-4 Units):Site-Built | 38 | $4,280,000 | $112,632 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Tipton Latham Bank, National Association | 173 South Highway E Latham, MO 65050 | Full Service B&M | $26,899 |
| The Tipton Latham Bank, National Association | 800 West Highway 50 Tipton, MO 65081 | Full Service B&M | $90,054 |
For 2018, The Tipton Latham Bank had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,160 |
| Net interest income | $3,647 |
| Total noninterest income | $230 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $110 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $120 |
| Pre-tax net operating income | $1,140 |
| Securities gains (or losses, -) | $-49 |
| Income before extraordinary items | $1,091 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,091 |
| Minority interest net income | $0 |
| Net income | $1,091 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,140 |
The Tipton Latham Bank's gross interest income from loans was $5,160,000.
The Tipton Latham Bank's net interest income from loans was $3,647,000.
The Tipton Latham Bank's fee based income from loans was $110,000.
The Tipton Latham Bank's net income from loans was $1,091,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,513 |
| Provision for credit losses | $200 |
| Total noninterest expense | $2,537 |
| Salaries and employee benefits | $1,735 |
| Premises and equipment expense | $228 |
| Additional noninterest expense | $574 |
| Applicable income taxes | $0 |
| Net charge-offs | $270 |
| Cash dividends | $561 |
The Tipton Latham Bank's interest expense for loans was $1,513,000.
The Tipton Latham Bank's payroll and benefits expense were $1,735,000.
The Tipton Latham Bank's property, plant and equipment expenses $228,000.
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 | $120,003 |
| Deposits held in domestic offices | $120,003 |
| Deposits by Individuals, partnerships, and corporations | $116,942 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $3,060 |
| 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 | $22,741 |
| Demand deposits | $17,031 |
| Nontransaction accounts | $97,261 |
| Money market deposit accounts (MMDAs) | $16,220 |
| Other savings deposits (excluding MMDAs) | $7,993 |
| Total time deposits | $73,048 |
| Total time and savings deposits | $102,971 |
| Noninterest-bearing deposits | $17,031 |
| Interest-bearing deposits | $102,972 |
| Retail deposits | $112,512 |
| IRAs and Keogh plan accounts | $5,533 |
| Brokered deposits | $744 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $134,107 |
| Cash & Balances due from depository institutions | $7,739 |
| Interest-bearing balances | $4,768 |
| Total securities | $30,767 |
| Federal funds sold & reverse repurchase | $4,442 |
| Net loans and leases | $85,319 |
| Loan and leases loss allowance | $1,226 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,313 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $4,527 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $134,107 |
| Total Liabilities | $120,639 |
| Total deposits | $120,003 |
| Interest-bearing deposits | $102,972 |
| Deposits held in domestic offices | $120,003 |
| % insured (estimated) | $93 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $636 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $85,319 |
| Loan and leases loss allowance | $1,226 |
| Total loans and leases (domestic) | $86,545 |
| All real estate loans | $60,035 |
| Real estate loans in domestic offices | $60,035 |
| Construction and development loans | $3,040 |
| Residential 1-4 family construction | $2,896 |
| Other construction, all land development and other land | $144 |
| Loans secured by nonfarm nonresidential properties | $4,318 |
| Nonfarm nonresidential secured by owner-occupied properties | $4,230 |
| Commercial real estate & other non-farm, non-residential | $88 |
| Multifamily residential real estate | $924 |
| 1-4 family residential loans | $26,506 |
| Farmland loans | $25,247 |
| Loans held in foreign offices | $0 |
| Farm loans | $12,606 |
| Commercial and industrial loans | $10,215 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,647 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $1,412 |
| Other loans to individuals | $2,235 |
| All other loans & leases | $42 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $42 |
| 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 | $1,222 |
| Non 1-4 family restructured loans & leases | $1,061 |
| Total loans and leases (foreign) | $0 |
The Tipton Latham Bank had $85,319,000 of loans outstanding in 2018. $60,035,000 of loans were in real estate loans. $3,040,000 of loans were in development loans. $924,000 of loans were in multifamily mortgage loans. $26,506,000 of loans were in 1-4 family mortgage loans. $12,606,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,412,000 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 | 35 | $4,318 | $123,371 |
| Nonfarm, nonresidential loans - <$100k | 21 | $737 | $35,095 |
| Nonfarm, nonresidential loans - $100-250k | 7 | $881 | $125,857 |
| Nonfarm, nonresidential loans - $250k-1MM | 7 | $2,700 | $385,714 |
| Commercial & Industrial, US addressed loans - <$1MM | 158 | $7,628 | $48,278 |
| Commercial & Industrial, US addressed loans - <$100k | 127 | $2,778 | $21,874 |
| Commercial & Industrial, US addressed loans - $100-250k | 22 | $2,095 | $95,227 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 9 | $2,755 | $306,111 |
| Farmland loans - <$1MM | 109 | $18,558 | $170,257 |
| Farmland loans - <$100k | 46 | $1,777 | $38,630 |
| Farmland loans - $100-250k | 31 | $3,888 | $125,419 |
| Farmland loans - $250k-1MM | 32 | $12,893 | $402,906 |
| Agriculture operations loans - <$1MM | 296 | $10,640 | $35,946 |
| Agriculture operations loans - <$100k | 262 | $5,507 | $21,019 |
| Agriculture operations loans - $100-250k | 27 | $2,826 | $104,667 |
| Agriculture operations loans - $250k-1MM | 7 | $2,307 | $329,571 |