The Tipton Latham Bank Mortgage Rates, Fees & Info

Tipton, MO

LEI: 5493000SHD1NU031PX30

Tax ID: 43-1294800

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

Review & Overview

The Tipton Latham Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Tipton Latham Bank has a high proportion of conventional loans. Their top two markets are Columbia and Jefferson City .

The Tipton Latham Bank has an above average approval rate when compared to the average across all lenders.

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Originations

Origination Dollar Volume (All Markets)

$1,120,000

Employee count

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
COLUMBIA, MO (FHA\|USDA\|VA)	3	$615,000	$205,000	$0	0.00%
JEFFERSON CITY, MO (FHA\|USDA\|VA)	4	$290,000	$72,500	$0	0.00%
Outside of Metro Areas	3	$215,000	$71,667	$0	0.00%

The Tipton Latham Bank's top markets include Columbia and Jefferson City among others.

Their top states include:

Missouri (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	10	$1,120,000	$112,000	$0	0.00%

For 2020, The Tipton Latham Bank's most frequently originated type of loan was Conventional, with 10 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	4	$670,000	$167,500	$0	0.00%
Refi	3	$185,000	$61,667	$0	0.00%
Cash Out Refi	3	$265,000	$88,333	$0	0.00%

For 2020, The Tipton Latham Bank's most frequently cited loan purpose was Home Purchase, with 4 originations. The 2nd most popular reason was Refi, with 3 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	10	$1,120,000	$112,000	$0	0.00%

For 2020, The Tipton Latham Bank's most frequently cited loan duration was Other, with 10 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	5	$225,000	$45,000	$0	0.00%
$100k-200k	3	$335,000	$111,667	$0	0.00%
$200k-400k	2	$560,000	$280,000	$0	0.00%

2020 saw The Tipton Latham Bank place emphasis on $100,000 or less loans with 5 originations, totaling $225,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	1	$205,000	$205,000	$0	0.00%
$50k-75k	1	$75,000	$75,000	$0	0.00%
$50k or less	1	$35,000	$35,000	$0	0.00%
$75k-100k	1	$45,000	$45,000	$0	0.00%

The Tipton Latham Bank lent most frequently to those with incomes in the $150k-250k range, with 1 originations. The second most popular income band? $50k-75k, with 1 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	10	$1,120,000	$112,000	$0	0.00%

The Tipton Latham Bank lent most frequently to those with DTI ratios of Exempt%, with 10 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	9	$1,015,000	$112,778	$0	0.00%
Not applicable	1	$105,000	$105,000	$0	0.00%

Approval Rates

Total approvals of all applications
100.00%

The Tipton Latham 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 origination

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	10	$1,120,000	$112,000

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	1	$125,000	$125,000
Single Family (1-4 Units):Site-Built	9	$995,000	$110,556

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	$27,431
The Tipton Latham Bank, National Association	800 West Highway 50 Tipton, MO 65081	Full Service B&M	$103,194

For 2020, The Tipton Latham Bank had 2 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$6,130
Net interest income	$4,490
Total noninterest income	$231
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$83
Trading account gains and fees	$0
Additional Noninterest Income	$148
Pre-tax net operating income	$1,757
Securities gains (or losses, -)	$287
Income before extraordinary items	$2,044
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,044
Minority interest net income	$0
Net income	$2,044
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$1,757

The Tipton Latham Bank's gross interest income from loans was $6,130,000.
The Tipton Latham Bank's net interest income from loans was $4,490,000.
The Tipton Latham Bank's fee based income from loans was $83,000.
The Tipton Latham Bank's net income from loans was $2,044,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,640
Provision for credit losses	$75
Total noninterest expense	$2,889
Salaries and employee benefits	$2,003
Premises and equipment expense	$289
Additional noninterest expense	$597
Applicable income taxes	$0
Net charge-offs	$-205
Cash dividends	$994

The Tipton Latham Bank's interest expense for loans was $1,640,000.
The Tipton Latham Bank's payroll and benefits expense were $2,003,000.
The Tipton Latham Bank's property, plant and equipment expenses $289,000.

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	16.0%
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	$140,403
Deposits held in domestic offices	$140,403
Deposits by Individuals, partnerships, and corporations	$137,131
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$3,272
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	$34,338
Demand deposits	$26,531
Nontransaction accounts	$106,065
Money market deposit accounts (MMDAs)	$28,320
Other savings deposits (excluding MMDAs)	$9,847
Total time deposits	$67,898
Total time and savings deposits	$113,872
Noninterest-bearing deposits	$26,530
Interest-bearing deposits	$113,873
Retail deposits	$134,729
IRAs and Keogh plan accounts	$6,478
Brokered deposits	$248
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$157,731
Cash & Balances due from depository institutions	$7,982
Interest-bearing balances	$2,692
Total securities	$32,636
Federal funds sold & reverse repurchase	$8,825
Net loans and leases	$102,180
Loan and leases loss allowance	$1,560
Trading account assets	$0
Bank premises and fixed assets	$1,417
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$4,691

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$157,731
Total Liabilities	$141,065
Total deposits	$140,403
Interest-bearing deposits	$113,873
Deposits held in domestic offices	$140,403
% insured (estimated)	$85
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$662

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$102,180
Loan and leases loss allowance	$1,560
Total loans and leases (domestic)	$103,740
All real estate loans	$69,823
Real estate loans in domestic offices	$69,823
Construction and development loans	$2,245
Residential 1-4 family construction	$1,465
Other construction, all land development and other land	$780
Loans secured by nonfarm nonresidential properties	$5,178
Nonfarm nonresidential secured by owner-occupied properties	$4,963
Commercial real estate & other non-farm, non-residential	$215
Multifamily residential real estate	$841
1-4 family residential loans	$30,091
Farmland loans	$31,468
Loans held in foreign offices	$0
Farm loans	$12,072
Commercial and industrial loans	$17,385
To non-U.S. addressees	$0
Loans to individuals	$4,428
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$1,825
Other loans to individuals	$2,603
All other loans & leases	$31
Loans to foreign governments and official institutions	$0
Other loans	$31
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	$651
Non 1-4 family restructured loans & leases	$441
Total loans and leases (foreign)	$0

The Tipton Latham Bank had $102,180,000 of loans outstanding in 2020. $69,823,000 of loans were in real estate loans. $2,245,000 of loans were in development loans. $841,000 of loans were in multifamily mortgage loans. $30,091,000 of loans were in 1-4 family mortgage loans. $12,072,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,825,000 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	28	$4,201	$150,036
Nonfarm, nonresidential loans - <$100k	13	$473	$36,385
Nonfarm, nonresidential loans - $100-250k	7	$1,045	$149,286
Nonfarm, nonresidential loans - $250k-1MM	8	$2,683	$335,375
Commercial & Industrial, US addressed loans - <$1MM	226	$12,341	$54,606
Commercial & Industrial, US addressed loans - <$100k	185	$3,989	$21,562
Commercial & Industrial, US addressed loans - $100-250k	24	$2,314	$96,417
Commercial & Industrial, US addressed loans - $250k-1MM	17	$6,038	$355,176
Farmland loans - <$1MM	109	$23,336	$214,092
Farmland loans - <$100k	40	$1,503	$37,575
Farmland loans - $100-250k	26	$3,000	$115,385
Farmland loans - $250k-1MM	43	$18,833	$437,977
Agriculture operations loans - <$1MM	254	$9,441	$37,169
Agriculture operations loans - <$100k	221	$5,339	$24,158
Agriculture operations loans - $100-250k	28	$2,999	$107,107
Agriculture operations loans - $250k-1MM	5	$1,103	$220,600