Western Commerce Bank Mortgage Rates, Fees & Info

Carlsbad, NM

LEI: 5493001SP13TNR6TUJ97

Tax ID: 85-0158799

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Western Commerce Bank is a smaller bank specializing in Home Purchase and Refi loans. Western Commerce Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Carlsbad, Hobbs, Albuquerque, Ruidoso, and Corpus Christi among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Western Commerce Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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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    Originations

    105

    Origination Dollar Volume (All Markets)

    $21,805,000

    Employee count

    85

    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
    Carlsbad-Artesia, NM (FHA|USDA|VA) 74 $14,770,000 $199,595 $0 0.00%
    Hobbs, NM (FHA|USDA|VA) 16 $2,360,000 $147,500 $0 0.00%
    ALBUQUERQUE, NM (FHA|USDA|VA) 6 $2,330,000 $388,333 $0 0.00%
    Ruidoso, NM (FHA|USDA|VA) 2 $760,000 $380,000 $0 0.00%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 2 $460,000 $230,000 $0 0.00%
    Outside of Metro Areas 1 $345,000 $345,000 $0 0.00%
    LUBBOCK, TX (FHA|USDA|VA) 2 $320,000 $160,000 $0 0.00%
    Los Alamos, NM (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    Roswell, NM (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Western Commerce Bank's top markets include Carlsbad, Hobbs, Albuquerque, Ruidoso, and Corpus Christi among others.

    Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 85 $17,285,000 $203,353 $0 0.00%
    FHA 18 $4,000,000 $222,222 $0 0.00%
    VA 2 $520,000 $260,000 $0 0.00%

    For 2021, Western Commerce Bank's most frequently originated type of loan was Conventional, with 85 originations. Their 2nd most popular type was FHA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 68 $13,490,000 $198,382 $0 0.00%
    Refi 33 $7,665,000 $232,273 $0 0.00%
    Other 3 $595,000 $198,333 $0 0.00%
    Home Improvement 1 $55,000 $55,000 $0 0.00%

    For 2021, Western Commerce Bank's most frequently cited loan purpose was Home Purchase, with 68 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 105 $21,805,000 $207,667 $0 0.00%

    For 2021, Western Commerce Bank's most frequently cited loan duration was Other, with 105 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 42 $11,680,000 $278,095 $0 0.00%
    $100k-200k 37 $5,185,000 $140,135 $0 0.00%
    $100,000 or less 21 $1,615,000 $76,905 $0 0.00%
    $400k-600k 4 $1,870,000 $467,500 $0 0.00%
    $1MM+ 1 $1,455,000 $1,455,000 $0 0.00%

    2021 saw Western Commerce Bank place emphasis on $200k-400k loans with 42 originations, totaling $11,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $5,145,000 $223,696 $0 0.00%
    $50k-75k 23 $3,225,000 $140,217 $0 0.00%
    $75k-100k 21 $4,155,000 $197,857 $0 0.00%
    $150k-250k 12 $3,460,000 $288,333 $0 0.00%
    $50k or less 9 $1,085,000 $120,556 $0 0.00%
    $250k+ 8 $3,490,000 $436,250 $0 0.00%

    Western Commerce Bank lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 105 $21,805,000 $207,667 $0 0.00%

    Western Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 105 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $20,315,000 $213,842 $0 0.00%
    Not applicable 7 $1,035,000 $147,857 $0 0.00%
    Black 2 $380,000 $190,000 $0 0.00%
    American Indian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.48%

    Western Commerce 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
    89.52%

    Western Commerce Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 105 $21,805,000 $207,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    105 $21,805,000 $207,667

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    WESTERN UNION COMPANY, THE Conventional home mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Western Commerce Bank 102 South Avenue A Tatum, NM 88267 Full Service B&M $20,592
    Western Commerce Bank 127 South Canyon Street Carlsbad, NM 88220 Full Service B&M $221,997
    Western Commerce Bank 18 West Adams Street Lovington, NM 88260 Full Service B&M $95,956
    Western Commerce Bank 1910 Wyoming Blvd Ne Albuquerque, NM 87105 Full Service B&M $27,967
    Western Commerce Bank 209 W. Taylor Hobbs, NM 88240 Full Service B&M $3,859
    Western Commerce Bank 2224 North Turner Boulevard Hobbs, NM 88240 Full Service B&M $72,955
    Western Commerce Bank 3010 National Parks Highway Carlsbad, NM 88220 Full Service B&M $33,473
    Western Commerce Bank 313 Cedar Street Loving, NM 88256 Full Service B&M $55,934
    Western Commerce Bank 3920 N. Grimes Hobbs, NM 88240 Full Service B&M $55
    Western Commerce Bank 501 North Canal Street Carlsbad, NM 88220 Full Service B&M $19,567

    For 2021, Western Commerce Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,452
    Net interest income $19,005
    Total noninterest income $2,256
    Gross Fiduciary activities income $646
    Service charges on deposit accounts $595
    Trading account gains and fees $0
    Additional Noninterest Income $1,015
    Pre-tax net operating income $9,562
    Securities gains (or losses, -) $-38
    Income before extraordinary items $9,524
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,524
    Minority interest net income $0
    Net income $9,524
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,562

    Western Commerce Bank's gross interest income from loans was $19,452,000.
    Western Commerce Bank's net interest income from loans was $19,005,000.
    Western Commerce Bank's fee based income from loans was $595,000.
    Western Commerce Bank's net income from loans was $9,524,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $447
    Provision for credit losses $0
    Total noninterest expense $11,699
    Salaries and employee benefits $6,567
    Premises and equipment expense $1,652
    Additional noninterest expense $3,480
    Applicable income taxes $0
    Net charge-offs $298
    Cash dividends $6,723

    Western Commerce Bank's interest expense for loans was $447,000.
    Western Commerce Bank's payroll and benefits expense were $6,567,000.
    Western Commerce Bank's property, plant and equipment expenses $1,652,000.

    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 $584,138
    Deposits held in domestic offices $584,138
    Deposits by Individuals, partnerships, and corporations $375,168
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $208,970
    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 $64,593
    Demand deposits $35,644
    Nontransaction accounts $519,545
    Money market deposit accounts (MMDAs) $34,477
    Other savings deposits (excluding MMDAs) $425,487
    Total time deposits $59,581
    Total time and savings deposits $548,494
    Noninterest-bearing deposits $212,818
    Interest-bearing deposits $371,321
    Retail deposits $546,238
    IRAs and Keogh plan accounts $4,811
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $631,495
    Cash & Balances due from depository institutions $144,021
    Interest-bearing balances $140,102
    Total securities $153,993
    Federal funds sold & reverse repurchase $0
    Net loans and leases $319,343
    Loan and leases loss allowance $4,501
    Trading account assets $0
    Bank premises and fixed assets $5,453
    Other real estate owned $160
    Goodwill and other intangibles $0
    All other assets $8,525

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $631,495
    Total Liabilities $584,340
    Total deposits $584,138
    Interest-bearing deposits $371,321
    Deposits held in domestic offices $584,138
    % insured (estimated) $43
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $202

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $319,343
    Loan and leases loss allowance $4,501
    Total loans and leases (domestic) $323,844
    All real estate loans $245,268
    Real estate loans in domestic offices $245,268
    Construction and development loans $9,277
    Residential 1-4 family construction $5,752
    Other construction, all land development and other land $3,525
    Loans secured by nonfarm nonresidential properties $126,217
    Nonfarm nonresidential secured by owner-occupied properties $7,180
    Commercial real estate & other non-farm, non-residential $119,037
    Multifamily residential real estate $2,098
    1-4 family residential loans $105,619
    Farmland loans $2,057
    Loans held in foreign offices $0
    Farm loans $146
    Commercial and industrial loans $69,943
    To non-U.S. addressees $0
    Loans to individuals $2,536
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $346
    Other loans to individuals $2,190
    All other loans & leases $5,950
    Loans to foreign governments and official institutions $0
    Other loans $84
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Western Commerce Bank had $319,343,000 of loans outstanding in 2021. $245,268,000 of loans were in real estate loans. $9,277,000 of loans were in development loans. $2,098,000 of loans were in multifamily mortgage loans. $105,619,000 of loans were in 1-4 family mortgage loans. $146,000 of loans were in farm loans. $0 of loans were in credit card loans. $346,000 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 108 $29,850 $276,389
    Nonfarm, nonresidential loans - <$100k 15 $524 $34,933
    Nonfarm, nonresidential loans - $100-250k 35 $4,036 $115,314
    Nonfarm, nonresidential loans - $250k-1MM 58 $25,290 $436,034
    Commercial & Industrial, US addressed loans - <$1MM 806 $46,503 $57,696
    Commercial & Industrial, US addressed loans - <$100k 639 $8,677 $13,579
    Commercial & Industrial, US addressed loans - $100-250k 92 $12,612 $137,087
    Commercial & Industrial, US addressed loans - $250k-1MM 75 $25,214 $336,187
    Farmland loans - <$1MM 9 $1,455 $161,667
    Farmland loans - <$100k 1 $59 $59,000
    Farmland loans - $100-250k 5 $717 $143,400
    Farmland loans - $250k-1MM 3 $679 $226,333
    Agriculture operations loans - <$1MM 5 $146 $29,200
    Agriculture operations loans - <$100k 4 $78 $19,500
    Agriculture operations loans - $100-250k 1 $68 $68,000