Chambers Bank Mortgage Rates, Fees & Info

Danville, AR

LEI: 54930039OWZFM2IGRN69

Tax ID: 71-0042610

5 stars - out of 5 stars, based on 28 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Chambers Bank is a smaller bank specializing in Home Purchase and Refi loans. Chambers Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Fayetteville, Little Rock, Fort Smith, Saginaw, and Russellville among others. Chambers 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. Chambers Bank is typically an average fee lendor.


Originations

785

Origination Dollar Volume (All Markets)

$226,685,000

Employee count

268 Show all (11) awards

Relative Rate

Chambers Bank's average 30 year fixed rate mortgage of loans were 2.88%.

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

This yields a difference of -0.27%.

Relative Fees

Chambers Bank's average total fees for a 30 year fixed rate mortgage are $3,927.

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
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 211 $57,455,000 $272,299 $3,462 3.12%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 131 $37,285,000 $284,618 $4,222 3.02%
FORT SMITH, AR-OK (FHA|USDA|VA) 149 $35,585,000 $238,826 $3,417 3.29%
SAGINAW, MI (FHA|USDA|VA) 2 $32,360,000 $16,180,000 $0 3.50%
Russellville, AR (FHA|USDA|VA) 133 $21,335,000 $160,414 $2,735 3.44%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 15 $9,995,000 $666,333 $4,063 3.06%
Outside of Metro Areas 67 $9,455,000 $141,119 $3,181 3.45%
HOT SPRINGS, AR (FHA|USDA|VA) 40 $8,790,000 $219,750 $2,150 4.29%
TULSA, OK (FHA|USDA|VA) 2 $6,450,000 $3,225,000 $1,578 4.24%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $1,130,000 $565,000 $2,373 3.93%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $1,000,000 $250,000 $4,345 2.97%
Searcy, AR (FHA|USDA|VA) 5 $915,000 $183,000 $4,899 2.85%
Arkadelphia, AR (FHA|USDA|VA) 4 $470,000 $117,500 $2,478 3.30%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $455,000 $455,000 $18,554 2.50%
Batesville, AR (FHA|USDA|VA) 1 $435,000 $435,000 $0 4.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $420,000 $210,000 $2,809 2.75%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $380,000 $190,000 $4,676 3.19%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $365,000 $365,000 $1,326 2.25%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $325,000 $325,000 $2,261 2.88%
JONESBORO, AR (FHA|USDA|VA) 1 $285,000 $285,000 $1,795 2.38%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $275,000 $275,000 $12,123 2.50%
Scottsboro, AL (FHA|USDA|VA) 1 $275,000 $275,000 $7,693 2.63%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $225,000 $225,000 $10,668 2.75%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $205,000 $205,000 $5,209 2.75%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $175,000 $175,000 $2,756 2.38%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $165,000 $165,000 $4,100 3.50%
Malvern, AR (FHA|USDA|VA) 2 $140,000 $70,000 $1,428 5.00%
Fremont, OH (FHA|USDA|VA) 1 $135,000 $135,000 $4,700 2.00%
WICHITA, KS (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.77%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.59%

Chambers Bank's top markets include Fayetteville, Little Rock, Fort Smith, Saginaw, and Russellville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 656 $197,110,000 $300,473 $2,749 3.41%
FHA 55 $11,585,000 $210,636 $6,087 2.63%
VA 48 $13,780,000 $287,083 $6,848 2.59%
USDA 26 $4,210,000 $161,923 $4,121 2.71%

For the 2021 period, Chambers Bank's most frequently originated loan type of loans were Conventional, with 656 originations. Their 2nd most popular type is FHA, with 55 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 484 $149,550,000 $308,988 $4,018 3.39%
Refi 188 $54,940,000 $292,234 $2,720 3.09%
Cash Out Refi 86 $17,230,000 $200,349 $3,092 2.89%
Other 14 $2,510,000 $179,286 $2,258 3.72%
Home Improvement 13 $2,455,000 $188,846 $1,992 4.18%

For the 2021, Chambers Bank's most frequently cited loan purpose of loans were Home Purchase, with 484 originations. The 2nd most popular reason of loans were Refi, with 188 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 430 $96,220,000 $223,767 $3,927 2.88%
Other 92 $60,530,000 $657,935 $1,670 4.24%
5 Year 85 $25,545,000 $300,529 $0 4.42%
15 Year 76 $14,440,000 $190,000 $2,866 2.33%
3 Year 42 $19,550,000 $465,476 $1,489 4.49%
1 Year 24 $3,760,000 $156,667 $1,208 4.60%
20 Year 24 $5,190,000 $216,250 $2,983 2.79%
10 Year 12 $1,450,000 $120,833 $2,553 2.27%

For the 2021, Chambers Bank's most frequently cited loan length of loans were 30 Year, with 430 originations. The 2nd most popular length of loans were Other, with 92 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 410 $91,560,000 $223,317
$1k-2k 92 $14,940,000 $162,391
$2k-3k 34 $7,040,000 $207,059
$3k-4k 17 $4,445,000 $261,471
$5k+ 1 $545,000 $545,000

$3,927 of loans were Chambers Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 410 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 250 $58,190,000 $232,760
3-4% 189 $93,205,000 $493,148
<2.5% 172 $36,950,000 $214,826
4-5% 158 $36,800,000 $232,911
5-6% 16 $1,540,000 $96,250

During 2021, Chambers Bank's average interest rate of loans were 2.88%, while their most frequently originated rate bucket of loans were 2.5-3%, with 250 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 298 $43,190,000 $144,933 $3,045 3.20%
$200k-400k 272 $74,750,000 $274,816 $3,981 2.92%
$100,000 or less 141 $9,245,000 $65,567 $2,145 3.95%
$400k-600k 46 $22,490,000 $488,913 $5,517 3.55%
$1MM+ 14 $66,570,000 $4,755,000 $0 3.74%
$600k-1MM 14 $10,440,000 $745,714 $7,793 3.79%

2021 saw Chambers Bank place emphasis on $100k-200k loans with 298 originations, totaling $43,190,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 151 $34,485,000 $228,377 $3,265 3.00%
$50k-75k 149 $26,695,000 $179,161 $3,796 3.12%
$50k or less 143 $18,025,000 $126,049 $3,085 3.25%
$75k-100k 83 $17,395,000 $209,578 $3,949 3.01%
$150k-250k 79 $21,145,000 $267,658 $3,974 3.20%
$250k+ 44 $15,830,000 $359,773 $3,257 3.40%

Chambers Bank lent most frequently to those with incomes in the $100k-150k range, with 151 originations. The second most popular income band? $50k-75k, with 149 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 142 $28,830,000 $203,028 $3,517 2.87%
30-36% 110 $21,240,000 $193,091 $2,949 3.08%
<20% 82 $16,360,000 $199,512 $2,872 2.85%
42% 31 $6,015,000 $194,032 $3,229 3.13%
40% 23 $4,545,000 $197,609 $3,146 2.85%
44% 22 $4,410,000 $200,455 $3,360 3.07%
41% 22 $5,100,000 $231,818 $4,253 2.81%
49% 21 $4,195,000 $199,762 $4,272 3.00%
43% 20 $3,870,000 $193,500 $3,326 2.88%
50-60% 19 $5,125,000 $269,737 $8,017 2.78%
37% 18 $4,210,000 $233,889 $3,606 2.85%
38% 17 $3,745,000 $220,294 $3,452 3.09%
39% 16 $4,480,000 $280,000 $3,124 3.13%
47% 15 $3,305,000 $220,333 $3,820 2.59%
36% 15 $2,315,000 $154,333 $2,812 3.18%
45% 9 $2,405,000 $267,222 $5,759 3.32%
46% 8 $1,650,000 $206,250 $3,996 2.95%
48% 7 $1,405,000 $200,714 $3,618 3.23%

Chambers Bank lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? 30-36%, with 110 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 550 $107,250,000 $195,000 $3,493 3.14%
Not applicable 106 $85,860,000 $810,000 $0 4.21%
Not provided 64 $18,130,000 $283,281 $3,605 3.12%
Asian 28 $6,880,000 $245,714 $3,136 3.15%
Black 21 $4,775,000 $227,381 $3,348 3.15%
American Indian 12 $2,620,000 $218,333 $4,747 2.93%
Asian Indian 2 $540,000 $270,000 $2,864 3.06%
Native Hawaiian 1 $365,000 $365,000 $1,763 2.75%
Other Asian 1 $265,000 $265,000 $1,438 4.50%

Approval Rates

Total approvals of all applications
93.12%

Chambers Bank has an average approval rate.

Pick Rate

Approvals leading to origination
79.53%

Chambers Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
455.0 1 $15,000 $15,000
NA 784 $226,670,000 $289,120

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
785 $226,685,000 $288,771

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 32 $3,600,000 $112,500 $2,273 3.49%
40-60% 91 $16,555,000 $181,923 $2,802 3.14%
60-80% 292 $109,980,000 $376,644 $2,980 3.28%
80-100% 342 $88,590,000 $259,035 $3,639 3.30%
Over 100% 17 $5,455,000 $320,882 $11,790 2.58%
Under 20% 10 $1,250,000 $125,000 $1,939 4.33%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Chambers Bank 2622 Fayetteville Road Van Buren, AR 72956 Full Service B&M $11,207
Chambers Bank 100 West Grove Avenue Springdale, AR 72764 Full Service B&M $30,637
Chambers Bank 102 N Front St Dardanelle, AR 72834 Limited, Administrative $0
Chambers Bank 106 North Main Street Havana, AR 72842 Full Service B&M $11,565
Chambers Bank 110 East D Parkway Russellville, AR 72801 Full Service B&M $32,956
Chambers Bank 111 West Thompson Street Amity, AR 71921 Full Service B&M $34,059
Chambers Bank 1511 North Church Atkins, AR 72823 Full Service B&M $11,256
Chambers Bank 1685 East Joyce Boulevard Fayetteville, AR 72703 Full Service B&M $70,810
Chambers Bank 1900 E Oak St Conway, AR 72032 Full Service B&M $4,226
Chambers Bank 2019 North Center Street Elkins, AR 72727 Limited, Drive-thru $0
Chambers Bank 8210 Phoenix Ave Fort Smith, AR 72903 Full Service B&M $57,877
Chambers Bank 901 Main Street Danville, AR 72833 Full Service B&M $177,004
Chambers Bank 9247 Market St Dover, AR 72837 Full Service B&M $19,049
Chambers Bank 300 Highway 71 Mena, AR 71953 Full Service B&M $25,644
Chambers Bank 310 East 8th Street Danville, AR 72833 Full Service B&M $0
Chambers Bank 314 Union Street Dardanelle, AR 72834 Full Service B&M $47,470
Chambers Bank 3201 West Main Street, Russellville Russellville, AR 72801 Full Service B&M $2,567
Chambers Bank 348 N Center Elkins, AR 72727 Full Service B&M $45,066
Chambers Bank 3505 Central Avenue Hot Springs, AR 72833 Full Service B&M $10,409
Chambers Bank 401 Huntington Avenue Mansfield, AR 72944 Full Service B&M $15,805
Chambers Bank 402 E 8th Street Danville, AR 72833 Full Service B&M $20,127
Chambers Bank 418 South Main Street Waldron, AR 72958 Full Service B&M $58,204
Chambers Bank 4201 West New Hope Road, Suite 101 Rogers, AR 72758 Full Service B&M $125,630
Chambers Bank 4508 North Highway 7 Hot Springs Village, AR 71909 Full Service B&M $36,259
Chambers Bank 490 Hogan Lane Conway, AR 72034 Full Service B&M $5,789
Chambers Bank 510 Union Street Dardanelle, AR 72834 Full Service B&M $51,920

For 2021, Chambers Bank had 26 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $48,949
Net interest income $43,399
Total noninterest income $10,624
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,747
Trading account gains and fees $0
Additional Noninterest Income $8,877
Pre-tax net operating income $21,503
Securities gains (or losses, -) $-108
Income before extraordinary items $16,121
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $16,121
Minority interest net income $0
Net income $16,121
Sale, conversion, retirement of capital stock, net $0
Net operating income $16,206

Chambers Bank's gross interest income from loans was $48,949,000.
Chambers Bank's net interest income from loans was $43,399,000.
Chambers Bank's fee based income from loans was $1,747,000.
Chambers Bank's net income from loans was $16,121,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,550
Provision for credit losses $545
Total noninterest expense $31,975
Salaries and employee benefits $19,414
Premises and equipment expense $4,355
Additional noninterest expense $8,206
Applicable income taxes $5,274
Net charge-offs $58
Cash dividends $1,050

Chambers Bank's interest expense for loans was $5,550,000.
Chambers Bank's payroll and benefits expense were $19,414,000.
Chambers Bank's property, plant and equipment expenses $4,355,000.

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 $980,991
Deposits held in domestic offices $980,991
Deposits by Individuals, partnerships, and corporations $907,527
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $73,464
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 $38,707
Demand deposits $19,680
Nontransaction accounts $942,284
Money market deposit accounts (MMDAs) $215,167
Other savings deposits (excluding MMDAs) $406,723
Total time deposits $320,395
Total time and savings deposits $961,311
Noninterest-bearing deposits $180,330
Interest-bearing deposits $800,662
Retail deposits $873,976
IRAs and Keogh plan accounts $36,047
Brokered deposits $51,389
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,198,299
Cash & Balances due from depository institutions $42,822
Interest-bearing balances $33,099
Total securities $53,971
Federal funds sold & reverse repurchase $108,075
Net loans and leases $925,596
Loan and leases loss allowance $11,127
Trading account assets $0
Bank premises and fixed assets $24,787
Other real estate owned $1,679
Goodwill and other intangibles $7,587
All other assets $33,782

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,198,299
Total Liabilities $1,077,540
Total deposits $980,991
Interest-bearing deposits $800,662
Deposits held in domestic offices $980,991
% insured (estimated) $71
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $90,047
Subordinated debt $0
All other liabilities $6,502

Issued Loan Types

Type Value (in 000's)
Net loans and leases $925,596
Loan and leases loss allowance $11,127
Total loans and leases (domestic) $936,723
All real estate loans $831,549
Real estate loans in domestic offices $831,549
Construction and development loans $169,695
Residential 1-4 family construction $57,469
Other construction, all land development and other land $112,226
Loans secured by nonfarm nonresidential properties $378,595
Nonfarm nonresidential secured by owner-occupied properties $104,186
Commercial real estate & other non-farm, non-residential $274,409
Multifamily residential real estate $77,359
1-4 family residential loans $164,007
Farmland loans $41,893
Loans held in foreign offices $0
Farm loans $3,484
Commercial and industrial loans $93,805
To non-U.S. addressees $0
Loans to individuals $7,374
Credit card loans $0
Related Plans $211
Consumer Auto Loans $1,051
Other loans to individuals $6,112
All other loans & leases $510
Loans to foreign governments and official institutions $0
Other loans $50
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $15,951
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $3,093
Non 1-4 family restructured loans & leases $3,093
Total loans and leases (foreign) $0

Chambers Bank had $925,596,000 of loans outstanding in 2021. $831,549,000 of loans were in real estate loans. $169,695,000 of loans were in development loans. $77,359,000 of loans were in multifamily mortgage loans. $164,007,000 of loans were in 1-4 family mortgage loans. $3,484,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,051,000 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 285 $64,825 $227,456
Nonfarm, nonresidential loans - <$100k 76 $3,166 $41,658
Nonfarm, nonresidential loans - $100-250k 91 $12,720 $139,780
Nonfarm, nonresidential loans - $250k-1MM 118 $48,939 $414,737
Commercial & Industrial, US addressed loans - <$1MM 491 $30,432 $61,980
Commercial & Industrial, US addressed loans - <$100k 383 $8,391 $21,909
Commercial & Industrial, US addressed loans - $100-250k 65 $7,463 $114,815
Commercial & Industrial, US addressed loans - $250k-1MM 43 $14,578 $339,023
Farmland loans - <$1MM 200 $19,109 $95,545
Farmland loans - <$100k 111 $4,583 $41,288
Farmland loans - $100-250k 62 $7,632 $123,097
Farmland loans - $250k-1MM 27 $6,894 $255,333
Agriculture operations loans - <$1MM 178 $3,484 $19,573
Agriculture operations loans - <$100k 170 $2,717 $15,982
Agriculture operations loans - $100-250k 7 $645 $92,143
Agriculture operations loans - $250k-1MM 1 $122 $122,000