Grand Savings Bank Mortgage Rates, Fees & Info

Grove, OK

LEI: 5493003K28DNSKKT2059

Tax ID: 73-1108238

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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

    Grand Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Grand Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fayetteville, Crestview, Miami, Fort Smith, and Tahlequah among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Grand Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above 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

    182

    Origination Dollar Volume (All Markets)

    $40,050,000

    Employee count

    170

    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
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 111 $27,995,000 $252,207 $0 0.00%
    Outside of Metro Areas 51 $8,535,000 $167,353 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,655,000 $1,655,000 $0 0.00%
    Miami, OK (FHA|USDA|VA) 9 $755,000 $83,889 $0 0.00%
    FORT SMITH, AR-OK (FHA|USDA|VA) 6 $470,000 $78,333 $0 0.00%
    Tahlequah, OK (FHA|USDA|VA) 2 $240,000 $120,000 $0 0.00%
    JOPLIN, MO (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    TULSA, OK (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Grand Savings Bank's top markets include Fayetteville, Crestview, Miami, Fort Smith, and Tahlequah among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 182 $40,050,000 $220,055 $0 0.00%

    For 2020, Grand Savings Bank's most frequently originated type of loan was Conventional, with 182 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $26,635,000 $220,124 $0 0.00%
    Refi 47 $12,475,000 $265,426 $0 0.00%
    Home Improvement 7 $485,000 $69,286 $0 0.00%
    Other 7 $455,000 $65,000 $0 0.00%

    For 2020, Grand Savings Bank's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 182 $40,050,000 $220,055 $0 0.00%

    For 2020, Grand Savings Bank's most frequently cited loan duration was Other, with 182 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 63 $3,775,000 $59,921 $0 0.00%
    $100k-200k 62 $8,830,000 $142,419 $0 0.00%
    $200k-400k 33 $8,945,000 $271,061 $0 0.00%
    $400k-600k 13 $6,605,000 $508,077 $0 0.00%
    $600k-1MM 7 $5,365,000 $766,429 $0 0.00%
    $1MM+ 4 $6,530,000 $1,632,500 $0 0.00%

    2020 saw Grand Savings Bank place emphasis on $100,000 or less loans with 63 originations, totaling $3,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 27 $3,355,000 $124,259 $0 0.00%
    $250k+ 25 $9,235,000 $369,400 $0 0.00%
    $50k or less 23 $1,635,000 $71,087 $0 0.00%
    $150k-250k 21 $5,425,000 $258,333 $0 0.00%
    $75k-100k 15 $1,995,000 $133,000 $0 0.00%
    $100k-150k 12 $2,200,000 $183,333 $0 0.00%

    Grand Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 27 originations. The second most popular income band? $250k+, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 182 $40,050,000 $220,055 $0 0.00%

    Grand Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 182 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 113 $22,415,000 $198,363 $0 0.00%
    Not applicable 54 $15,610,000 $289,074 $0 0.00%
    American Indian 10 $1,270,000 $127,000 $0 0.00%
    Asian 3 $585,000 $195,000 $0 0.00%
    Black 1 $115,000 $115,000 $0 0.00%
    Native Hawaiian or Islander 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.95%

    Grand Savings 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
    95.05%

    Grand Savings 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
    Exempt 182 $40,050,000 $220,055

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $6,840,000 $855,000
    Single Family (1-4 Units):Manufactured 22 $2,150,000 $97,727
    Single Family (1-4 Units):Site-Built 152 $31,060,000 $204,342

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Greentree & Associates Conventional home mortgage Trouble during payment process 2 66.7%
    Greentree & Associates FHA mortgage Struggling to pay mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Grand Savings Bank 1022 South Main Street Grove, OK 74344 Full Service B&M $149,479
    Grand Savings Bank 1222 North Main Street Jay, OK 74346 Full Service B&M $87,343
    Grand Savings Bank 101 S Gentry Blvd Gentry, AR 72734 Full Service B&M $22,225
    Grand Savings Bank 15 S Block Ave Suite 102 Fayetteville, AR 72701 Full Service B&M $9,869
    Grand Savings Bank 1660 West U.S. Highway 412 Siloam Springs, AR 72761 Full Service B&M $63,945
    Grand Savings Bank 198 Atlanta Street Se Gravette, AR 72736 Full Service B&M $15,706
    Grand Savings Bank 2350 W. Hudson Rd. Rogers, AR 72756 Full Service B&M $17,603
    Grand Savings Bank 3401 Sw 2nd Street, Suite 115 Bentonville, AR 72712 Full Service B&M $73,583
    Grand Savings Bank 372 Sh 59 N Decatur, AR 72722 Full Service B&M $25,800
    Grand Savings Bank 4201 South Dixieland Road Rogers, AR 72758 Full Service B&M $46,181
    Grand Savings Bank 610 Conner Avenue Fairland, OK 74343 Full Service B&M $14,414
    Grand Savings Bank 9117 Hwy 71 S Fort Smith, AR 72908 Full Service B&M $12,353

    For 2020, Grand Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,882
    Net interest income $23,987
    Total noninterest income $5,090
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,645
    Trading account gains and fees $0
    Additional Noninterest Income $3,445
    Pre-tax net operating income $11,310
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,099
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,099
    Minority interest net income $0
    Net income $8,099
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,099

    Grand Savings Bank's gross interest income from loans was $28,882,000.
    Grand Savings Bank's net interest income from loans was $23,987,000.
    Grand Savings Bank's fee based income from loans was $1,645,000.
    Grand Savings Bank's net income from loans was $8,099,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,895
    Provision for credit losses $1,108
    Total noninterest expense $16,659
    Salaries and employee benefits $9,926
    Premises and equipment expense $1,680
    Additional noninterest expense $5,053
    Applicable income taxes $3,211
    Net charge-offs $185
    Cash dividends $6,553

    Grand Savings Bank's interest expense for loans was $4,895,000.
    Grand Savings Bank's payroll and benefits expense were $9,926,000.
    Grand Savings Bank's property, plant and equipment expenses $1,680,000.

    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 1.0%
    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 $602,231
    Deposits held in domestic offices $602,231
    Deposits by Individuals, partnerships, and corporations $517,096
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $78,872
    Deposits by Commercial banks and other depository institutions in U.S. $6,262
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $62,248
    Demand deposits $32,046
    Nontransaction accounts $539,982
    Money market deposit accounts (MMDAs) $88,382
    Other savings deposits (excluding MMDAs) $289,201
    Total time deposits $162,401
    Total time and savings deposits $570,184
    Noninterest-bearing deposits $135,981
    Interest-bearing deposits $466,250
    Retail deposits $553,928
    IRAs and Keogh plan accounts $20,348
    Brokered deposits $5,866
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $663,327
    Cash & Balances due from depository institutions $110,858
    Interest-bearing balances $101,663
    Total securities $36,792
    Federal funds sold & reverse repurchase $12,593
    Net loans and leases $482,053
    Loan and leases loss allowance $4,027
    Trading account assets $0
    Bank premises and fixed assets $15,507
    Other real estate owned $30
    Goodwill and other intangibles $292
    All other assets $5,202

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $663,327
    Total Liabilities $610,180
    Total deposits $602,231
    Interest-bearing deposits $466,250
    Deposits held in domestic offices $602,231
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,250
    Subordinated debt $0
    All other liabilities $4,699

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $482,053
    Loan and leases loss allowance $4,027
    Total loans and leases (domestic) $486,080
    All real estate loans $364,300
    Real estate loans in domestic offices $364,300
    Construction and development loans $89,789
    Residential 1-4 family construction $38,625
    Other construction, all land development and other land $51,164
    Loans secured by nonfarm nonresidential properties $101,336
    Nonfarm nonresidential secured by owner-occupied properties $55,820
    Commercial real estate & other non-farm, non-residential $45,516
    Multifamily residential real estate $3,810
    1-4 family residential loans $135,840
    Farmland loans $33,525
    Loans held in foreign offices $0
    Farm loans $7,752
    Commercial and industrial loans $70,137
    To non-U.S. addressees $0
    Loans to individuals $41,614
    Credit card loans $946
    Related Plans $270
    Consumer Auto Loans $14,784
    Other loans to individuals $25,614
    All other loans & leases $2,277
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $925
    Non 1-4 family restructured loans & leases $287
    Total loans and leases (foreign) $0

    Grand Savings Bank had $482,053,000 of loans outstanding in 2020. $364,300,000 of loans were in real estate loans. $89,789,000 of loans were in development loans. $3,810,000 of loans were in multifamily mortgage loans. $135,840,000 of loans were in 1-4 family mortgage loans. $7,752,000 of loans were in farm loans. $946,000 of loans were in credit card loans. $14,784,000 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 278 $51,059 $183,665
    Nonfarm, nonresidential loans - <$100k 92 $4,308 $46,826
    Nonfarm, nonresidential loans - $100-250k 86 $10,442 $121,419
    Nonfarm, nonresidential loans - $250k-1MM 100 $36,309 $363,090
    Commercial & Industrial, US addressed loans - <$1MM 1,276 $51,815 $40,607
    Commercial & Industrial, US addressed loans - <$100k 1,134 $24,058 $21,215
    Commercial & Industrial, US addressed loans - $100-250k 85 $9,573 $112,624
    Commercial & Industrial, US addressed loans - $250k-1MM 57 $18,184 $319,018
    Farmland loans - <$1MM 167 $29,739 $178,078
    Farmland loans - <$100k 47 $2,175 $46,277
    Farmland loans - $100-250k 64 $8,460 $132,188
    Farmland loans - $250k-1MM 56 $19,104 $341,143
    Agriculture operations loans - <$1MM 457 $7,752 $16,963
    Agriculture operations loans - <$100k 445 $6,881 $15,463
    Agriculture operations loans - $100-250k 12 $871 $72,583