Cross Keys Bank Mortgage Rates, Fees & Info

Saint Joseph, LA

LEI: 5493001WL16YUSR2TI47

Tax ID: 72-0125055

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Cross Keys Bank is a smaller bank specializing in Home Purchase and Refi loans. Cross Keys Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Monroe, Shreveport, Ruston, Crestview, and Minden among others. Cross Keys Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Cross Keys Bank is typically an average fee lendor.


Originations

589

Origination Dollar Volume (All Markets)

$127,685,000

Employee count

90 Show all (14) awards

Relative Rate

Cross Keys Bank's average 30 year fixed rate mortgage of loans were 2.84%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.31%.

Relative Fees

Cross Keys Bank's average total fees for a 30 year fixed rate mortgage are $4,238.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MONROE, LA (FHA|USDA|VA) 214 $47,690,000 $222,850 $4,005 3.04%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 140 $35,850,000 $256,071 $4,302 2.95%
Outside of Metro Areas 185 $31,285,000 $169,108 $3,398 3.19%
Ruston, LA (FHA|USDA|VA) 14 $2,910,000 $207,857 $4,228 3.14%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,265,000 $1,265,000 $0 4.75%
Minden, LA (FHA|USDA|VA) 7 $1,105,000 $157,857 $3,401 3.05%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $960,000 $480,000 $4,614 2.87%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 3 $935,000 $311,667 $3,427 2.75%
Breckenridge, CO (FHA|USDA|VA) 2 $930,000 $465,000 $3,606 2.93%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $600,000 $300,000 $2,691 3.38%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $475,000 $475,000 $3,030 3.63%
ROANOKE, VA (FHA|USDA|VA) 1 $465,000 $465,000 $3,448 2.75%
HAMMOND, LA (FHA|USDA|VA) 1 $425,000 $425,000 $4,102 2.49%
TYLER, TX (FHA|USDA|VA) 1 $415,000 $415,000 $2,844 2.88%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $290,000 $145,000 $3,269 2.25%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $245,000 $245,000 $2,876 2.88%
ALEXANDRIA, LA (FHA|USDA|VA) 2 $230,000 $115,000 $3,366 2.75%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,727 1.99%
FORT COLLINS, CO (FHA|USDA|VA) 1 $215,000 $215,000 $2,474 4.10%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $215,000 $215,000 $334 2.50%
Branson, MO (FHA|USDA|VA) 1 $175,000 $175,000 $3,038 3.88%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $175,000 $175,000 $3,047 2.88%
Morgan City, LA (FHA|USDA|VA) 1 $175,000 $175,000 $2,656 2.38%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $135,000 $135,000 $3,468 2.38%
BATON ROUGE, LA (FHA|USDA|VA) 1 $105,000 $105,000 $3,393 2.25%
JACKSON, MS (FHA|USDA|VA) 1 $105,000 $105,000 $2,815 2.25%
GADSDEN, AL (FHA|USDA|VA) 1 $85,000 $85,000 $2,506 4.75%

Cross Keys Bank's top markets include Monroe, Shreveport, Ruston, Crestview, and Minden among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 464 $104,990,000 $226,272 $3,331 3.17%
FHA 52 $8,990,000 $172,885 $6,411 2.69%
USDA 49 $8,115,000 $165,612 $5,176 2.61%
VA 24 $5,590,000 $232,917 $4,472 2.69%

For the 2021 period, Cross Keys Bank's most frequently originated loan type of loans were Conventional, with 464 originations. Their 2nd most popular type is FHA, with 52 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 319 $69,135,000 $216,724 $4,447 3.02%
Refi 180 $39,290,000 $218,278 $2,904 3.23%
Cash Out Refi 83 $18,075,000 $217,771 $3,520 2.71%
Other 4 $890,000 $222,500 $2,631 4.22%
Home Improvement 3 $295,000 $98,333 $1,562 5.02%

For the 2021, Cross Keys Bank's most frequently cited loan purpose of loans were Home Purchase, with 319 originations. The 2nd most popular reason of loans were Refi, with 180 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 381 $83,905,000 $220,223 $4,238 2.84%
15 Year 68 $14,010,000 $206,029 $3,321 2.31%
Other 38 $8,630,000 $227,105 $2,360 4.81%
5 Year 34 $6,260,000 $184,118 $407 4.95%
20 Year 32 $9,100,000 $284,375 $3,314 2.71%
10 Year 24 $3,270,000 $136,250 $2,859 2.99%
1 Year 11 $2,385,000 $216,818 $4,373 4.65%
3 Year 1 $125,000 $125,000 $0 4.35%

For the 2021, Cross Keys Bank's most frequently cited loan length of loans were 30 Year, with 381 originations. The 2nd most popular length of loans were 15 Year, with 68 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 475 $102,305,000 $215,379
$<1k 60 $8,370,000 $139,500
$2k-3k 11 $4,395,000 $399,545
$3k-4k 5 $1,625,000 $325,000

$4,238 of loans were Cross Keys Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 475 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 241 $53,935,000 $223,797
<2.5% 181 $39,465,000 $218,039
3-4% 76 $15,510,000 $204,079
4-5% 66 $17,550,000 $265,909
5-6% 15 $935,000 $62,333
6-7% 10 $290,000 $29,000

During 2021, Cross Keys Bank's average interest rate of loans were 2.84%, while their most frequently originated rate bucket of loans were 2.5-3%, with 241 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 245 $36,845,000 $150,388 $3,793 2.87%
$200k-400k 188 $50,330,000 $267,713 $4,213 2.81%
$100,000 or less 92 $5,980,000 $65,000 $2,457 4.08%
$400k-600k 57 $26,755,000 $469,386 $4,523 2.93%
$600k-1MM 4 $3,120,000 $780,000 $6,628 4.23%
$1MM+ 3 $4,655,000 $1,551,667 $0 4.13%

2021 saw Cross Keys Bank place emphasis on $100k-200k loans with 245 originations, totaling $36,845,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 129 $22,895,000 $177,481 $4,107 2.89%
$100k-150k 119 $30,235,000 $254,076 $3,825 2.90%
$50k or less 114 $14,490,000 $127,105 $3,664 3.08%
$75k-100k 103 $20,735,000 $201,311 $3,969 2.98%
$150k-250k 61 $18,685,000 $306,311 $3,713 3.02%
$250k+ 37 $11,405,000 $308,243 $3,436 3.52%

Cross Keys Bank lent most frequently to those with incomes in the $50k-75k range, with 129 originations. The second most popular income band? $100k-150k, with 119 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 151 $28,385,000 $187,980 $3,425 3.01%
30-36% 113 $24,575,000 $217,478 $4,094 2.85%
<20% 66 $12,630,000 $191,364 $3,098 3.45%
37% 22 $5,270,000 $239,545 $4,067 3.08%
44% 21 $4,805,000 $228,810 $3,901 2.78%
41% 20 $4,240,000 $212,000 $3,881 2.87%
36% 19 $4,165,000 $219,211 $3,971 2.92%
38% 19 $4,945,000 $260,263 $4,180 2.89%
39% 17 $4,255,000 $250,294 $4,725 2.67%
42% 16 $3,410,000 $213,125 $3,838 3.01%
50-60% 15 $2,445,000 $163,000 $5,432 3.28%
40% 14 $3,300,000 $235,714 $3,988 2.74%
43% 14 $2,610,000 $186,429 $4,084 2.77%
48% 13 $3,255,000 $250,385 $5,044 2.83%
45% 12 $2,410,000 $200,833 $4,602 2.70%
49% 10 $2,180,000 $218,000 $4,152 2.86%
47% 9 $2,315,000 $257,222 $3,391 2.74%
46% 5 $1,365,000 $273,000 $3,883 3.40%
>60% 1 $345,000 $345,000 $3,215 4.19%

Cross Keys Bank lent most frequently to those with DTI ratios of 20-30%, with 151 originations. The next most common DTI ratio? 30-36%, with 113 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 506 $108,360,000 $214,150 $3,816 2.99%
Not applicable 23 $8,715,000 $378,913 $0 4.55%
Black 37 $5,765,000 $155,811 $3,914 3.30%
Asian 9 $1,805,000 $200,556 $3,848 2.83%
Not provided 7 $1,365,000 $195,000 $4,495 2.75%
Other Asian 3 $875,000 $291,667 $4,619 2.92%
American Indian 3 $695,000 $231,667 $4,025 2.88%
Native Hawaiian 1 $105,000 $105,000 $3,143 2.88%

Approval Rates

Total approvals of all applications
91.60%

Cross Keys Bank has an average approval rate.

Pick Rate

Approvals leading to origination
84.64%

Cross Keys Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 589 $127,685,000 $216,783

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
589 $127,685,000 $216,783

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 30 $3,390,000 $113,000 $2,386 3.80%
40-60% 78 $16,890,000 $216,538 $3,225 3.05%
60-80% 187 $43,945,000 $235,000 $3,456 3.00%
80-100% 267 $59,215,000 $221,779 $4,307 2.96%
Over 100% 17 $3,635,000 $213,824 $6,151 2.70%
Under 20% 9 $605,000 $67,222 $1,053 5.24%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Cross Keys Bank 115 North Chestnut Street Tallulah, LA 71282 Full Service B&M $43,798
Cross Keys Bank 1401 Hudson Lane Monroe, LA 71201 Full Service B&M $98,608
Cross Keys Bank 167 Keystone Road Monroe, LA 71203 Full Service B&M $38,110
Cross Keys Bank 1913 Julia St Rayville, LA 71269 Full Service B&M $40,566
Cross Keys Bank 307 Plank Rd. Saint Joseph, LA 71366 Full Service B&M $78,085
Cross Keys Bank 400 Mcmillan Road West Monroe, LA 71291 Full Service B&M $52,374
Cross Keys Bank 4855 Line Avenue Shreveport, LA 71106 Full Service B&M $24,501

For 2021, Cross Keys Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $17,315
Net interest income $16,215
Total noninterest income $7,202
Gross Fiduciary activities income $0
Service charges on deposit accounts $847
Trading account gains and fees $0
Additional Noninterest Income $6,355
Pre-tax net operating income $8,404
Securities gains (or losses, -) $87
Income before extraordinary items $8,491
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,491
Minority interest net income $0
Net income $8,491
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,404

Cross Keys Bank's gross interest income from loans was $17,315,000.
Cross Keys Bank's net interest income from loans was $16,215,000.
Cross Keys Bank's fee based income from loans was $847,000.
Cross Keys Bank's net income from loans was $8,491,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,100
Provision for credit losses $75
Total noninterest expense $14,938
Salaries and employee benefits $9,835
Premises and equipment expense $1,428
Additional noninterest expense $3,675
Applicable income taxes $0
Net charge-offs $707
Cash dividends $5,000

Cross Keys Bank's interest expense for loans was $1,100,000.
Cross Keys Bank's payroll and benefits expense were $9,835,000.
Cross Keys Bank's property, plant and equipment expenses $1,428,000.

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 2.0%
Personal loans 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 0.0%
Other consumer loans 1.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $397,937
Deposits held in domestic offices $397,937
Deposits by Individuals, partnerships, and corporations $327,477
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $58,990
Deposits by Commercial banks and other depository institutions in U.S. $11,470
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $197,477
Demand deposits $121,567
Nontransaction accounts $200,460
Money market deposit accounts (MMDAs) $66,577
Other savings deposits (excluding MMDAs) $52,042
Total time deposits $81,840
Total time and savings deposits $276,370
Noninterest-bearing deposits $121,764
Interest-bearing deposits $276,173
Retail deposits $371,600
IRAs and Keogh plan accounts $7,045
Brokered deposits $370
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $477,500
Cash & Balances due from depository institutions $25,139
Interest-bearing balances $16,161
Total securities $179,315
Federal funds sold & reverse repurchase $0
Net loans and leases $246,039
Loan and leases loss allowance $1,881
Trading account assets $0
Bank premises and fixed assets $8,215
Other real estate owned $396
Goodwill and other intangibles $207
All other assets $18,189

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $477,500
Total Liabilities $425,183
Total deposits $397,937
Interest-bearing deposits $276,173
Deposits held in domestic offices $397,937
% insured (estimated) $71
Federal funds purchased and repurchase agreements $3,381
Trading liabilities $0
Other borrowed funds $21,196
Subordinated debt $0
All other liabilities $2,669

Issued Loan Types

Type Value (in 000's)
Net loans and leases $246,039
Loan and leases loss allowance $1,881
Total loans and leases (domestic) $247,920
All real estate loans $195,903
Real estate loans in domestic offices $195,903
Construction and development loans $35,284
Residential 1-4 family construction $12,244
Other construction, all land development and other land $23,040
Loans secured by nonfarm nonresidential properties $79,540
Nonfarm nonresidential secured by owner-occupied properties $29,688
Commercial real estate & other non-farm, non-residential $49,852
Multifamily residential real estate $2,024
1-4 family residential loans $63,191
Farmland loans $15,864
Loans held in foreign offices $0
Farm loans $9,705
Commercial and industrial loans $30,357
To non-U.S. addressees $0
Loans to individuals $3,159
Credit card loans $0
Related Plans $45
Consumer Auto Loans $869
Other loans to individuals $2,245
All other loans & leases $8,796
Loans to foreign governments and official institutions $0
Other loans $30
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $8,953
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,446
Non 1-4 family restructured loans & leases $853
Total loans and leases (foreign) $0

Cross Keys Bank had $246,039,000 of loans outstanding in 2021. $195,903,000 of loans were in real estate loans. $35,284,000 of loans were in development loans. $2,024,000 of loans were in multifamily mortgage loans. $63,191,000 of loans were in 1-4 family mortgage loans. $9,705,000 of loans were in farm loans. $0 of loans were in credit card loans. $869,000 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 124 $22,679 $182,895
Nonfarm, nonresidential loans - <$100k 39 $1,425 $36,538
Nonfarm, nonresidential loans - $100-250k 42 $5,071 $120,738
Nonfarm, nonresidential loans - $250k-1MM 43 $16,183 $376,349
Commercial & Industrial, US addressed loans - <$1MM 393 $20,855 $53,066
Commercial & Industrial, US addressed loans - <$100k 315 $6,797 $21,578
Commercial & Industrial, US addressed loans - $100-250k 48 $5,635 $117,396
Commercial & Industrial, US addressed loans - $250k-1MM 30 $8,423 $280,767
Farmland loans - <$1MM 38 $3,263 $85,868
Farmland loans - <$100k 22 $931 $42,318
Farmland loans - $100-250k 9 $1,095 $121,667
Farmland loans - $250k-1MM 7 $1,237 $176,714
Agriculture operations loans - <$1MM 98 $4,320 $44,082
Agriculture operations loans - <$100k 61 $1,339 $21,951
Agriculture operations loans - $100-250k 21 $1,985 $94,524
Agriculture operations loans - $250k-1MM 16 $996 $62,250