Bank Of Washington Mortgage Rates, Fees & Info
Washington, MO
LEI: 54930044G6TGPFFTFM49
Tax ID: 43-0170340
5 stars
-
out of 5 stars, based on 21 reviews
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Mortgage Data
Bank Data
Overview
Bank Of Washington is a
smaller
bank
specializing in
Home Purchase, Cash Out Refi, and Refi loans.
Bank Of Washington has a high proportion of conventional loans.
They have a low ratio of USDA loans.
Their top markets include St. Louis, Sevierville, Naples, Rolla, and Kansas City among others. Bank Of Washington 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.
Bank Of Washington is typically
a low fee
lendor.
Originations
433
Origination Dollar Volume (All Markets)
$97,965,000
Employee count
114
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Relative Rate
Bank Of Washington's average 30 year fixed rate mortgage of loans were
3.14%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.01%.
Relative Fees
Bank Of Washington's average total fees for a 30 year fixed rate
mortgage are $2,432.
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 |
|
ST. LOUIS, MO-IL (FHA|USDA|VA)
|
412
|
$93,840,000 |
$227,767 |
$2,094 |
2.98% |
|
Outside of Metro Areas
|
13 |
$2,735,000 |
$210,385 |
$2,005 |
3.26% |
|
Sevierville, TN (FHA|USDA|VA)
|
1
|
$405,000 |
$405,000 |
$2,552 |
2.38% |
|
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)
|
1
|
$325,000 |
$325,000 |
$0 |
3.50% |
|
Rolla, MO (FHA|USDA|VA)
|
2
|
$240,000 |
$120,000 |
$1,293 |
2.94% |
|
KANSAS CITY, MO-KS (FHA|USDA|VA)
|
1
|
$115,000 |
$115,000 |
$1,740 |
2.63% |
|
JEFFERSON CITY, MO (FHA|USDA|VA)
|
1
|
$115,000 |
$115,000 |
$1,889 |
3.13% |
|
Farmington, MO (FHA|USDA|VA)
|
1
|
$115,000 |
$115,000 |
$1,462 |
3.13% |
|
COLUMBIA, MO (FHA|USDA|VA)
|
1
|
$75,000 |
$75,000 |
$1,534 |
3.13% |
Bank Of Washington's top markets include St. Louis, Sevierville, Naples, Rolla, and Kansas City among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
407 |
$93,315,000 |
$229,275 |
$1,911 |
3.01% |
| USDA |
26 |
$4,650,000 |
$178,846 |
$4,610 |
2.76% |
For the 2021 period, Bank Of Washington's most frequently
originated loan type
of loans were Conventional, with 407 originations.
Their 2nd most popular type is USDA,
with 26 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
155 |
$35,855,000 |
$231,323 |
$3,163 |
3.24% |
| Cash Out Refi |
140 |
$29,740,000 |
$212,429 |
$1,578 |
2.93% |
| Refi |
123 |
$29,385,000 |
$238,902 |
$1,514 |
2.78% |
| Other |
15 |
$2,985,000 |
$199,000 |
$1,780 |
2.76% |
For the 2021, Bank Of Washington's most frequently cited loan
purpose
of loans were Home Purchase, with 155
originations.
The 2nd most popular reason of loans were Cash Out Refi,
with 140 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 30 Year |
241 |
$55,595,000 |
$230,685 |
$2,432 |
3.14% |
| 15 Year |
110 |
$23,930,000 |
$217,545 |
$1,673 |
2.51% |
| 20 Year |
34 |
$8,810,000 |
$259,118 |
$1,587 |
3.34% |
| 10 Year |
20 |
$3,230,000 |
$161,500 |
$1,390 |
2.35% |
| Other |
18 |
$4,170,000 |
$231,667 |
$1,575 |
3.19% |
| 5 Year |
4 |
$1,740,000 |
$435,000 |
$0 |
4.25% |
| 1 Year |
3 |
$245,000 |
$81,667 |
$0 |
4.92% |
| 3 Year |
3 |
$245,000 |
$81,667 |
$0 |
4.42% |
For the 2021, Bank Of Washington's most frequently cited loan
length
of loans were 30 Year, with 241 originations.
The 2nd most popular length of loans were 15 Year,
with 110 originations.
Origination Fees
| Origination Fee |
Originations |
Total Value |
Average Loan |
| $<1k |
382 |
$81,070,000 |
$212,225 |
| $1k-2k |
10 |
$2,550,000 |
$255,000 |
| $2k-3k |
4 |
$1,570,000 |
$392,500 |
| $3k-4k |
2 |
$690,000 |
$345,000 |
| $5k+ |
1 |
$975,000 |
$975,000 |
$2,432 of loans were Bank Of Washington's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 382 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| 2.5-3% |
170 |
$36,950,000 |
$217,353 |
| 3-4% |
133 |
$31,975,000 |
$240,414 |
| <2.5% |
101 |
$20,755,000 |
$205,495 |
| 4-5% |
28 |
$8,240,000 |
$294,286 |
| 5-6% |
1 |
$45,000 |
$45,000 |
During 2021, Bank Of Washington's average interest
rate of loans were 3.14%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 170 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-200k |
181 |
$26,815,000 |
$148,149 |
$1,959 |
2.94% |
| $200k-400k |
158 |
$41,960,000 |
$265,570 |
$2,194 |
2.96% |
| $100,000 or less |
52 |
$3,920,000 |
$75,385 |
$1,644 |
3.19% |
| $400k-600k |
37 |
$17,525,000 |
$473,649 |
$2,369 |
2.95% |
| $600k-1MM |
3 |
$2,815,000 |
$938,333 |
$9,208 |
4.17% |
| $1MM+ |
2 |
$4,930,000 |
$2,465,000 |
$0 |
4.19% |
2021 saw Bank Of Washington place emphasis on
$100k-200k loans
with 181 originations, totaling
$26,815,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-150k |
91 |
$19,885,000 |
$218,516 |
$1,811 |
2.91% |
| $75k-100k |
83 |
$15,585,000 |
$187,771 |
$1,965 |
2.99% |
| $50k-75k |
76 |
$12,250,000 |
$161,184 |
$2,224 |
2.96% |
| $150k-250k |
63 |
$18,755,000 |
$297,698 |
$2,020 |
2.84% |
| $50k or less |
55 |
$7,205,000 |
$131,000 |
$2,187 |
3.02% |
| $250k+ |
31 |
$12,075,000 |
$389,516 |
$2,884 |
3.02% |
Bank Of Washington lent most frequently to those with incomes in the
$100k-150k range, with
91 originations.
The second most popular income band? $75k-100k,
with 83 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-30% |
157 |
$33,245,000 |
$211,752 |
$2,239 |
2.94% |
| 30-36% |
78 |
$16,350,000 |
$209,615 |
$2,076 |
2.96% |
| <20% |
71 |
$15,475,000 |
$217,958 |
$1,834 |
2.84% |
| 40% |
15 |
$3,405,000 |
$227,000 |
$1,682 |
2.79% |
| 41% |
13 |
$3,495,000 |
$268,846 |
$2,069 |
2.94% |
| 36% |
13 |
$2,735,000 |
$210,385 |
$2,279 |
2.88% |
| 37% |
12 |
$2,700,000 |
$225,000 |
$2,570 |
3.07% |
| 39% |
11 |
$2,235,000 |
$203,182 |
$1,744 |
2.92% |
| 38% |
8 |
$1,730,000 |
$216,250 |
$2,155 |
3.25% |
| 42% |
8 |
$1,270,000 |
$158,750 |
$1,884 |
2.98% |
| 44% |
7 |
$1,465,000 |
$209,286 |
$2,371 |
2.75% |
| 43% |
6 |
$1,440,000 |
$240,000 |
$1,750 |
3.04% |
| 48% |
6 |
$1,340,000 |
$223,333 |
$1,723 |
2.83% |
| 47% |
4 |
$940,000 |
$235,000 |
$2,063 |
3.13% |
| 49% |
3 |
$685,000 |
$228,333 |
$2,607 |
3.04% |
| 45% |
2 |
$200,000 |
$100,000 |
$1,490 |
3.88% |
| 46% |
2 |
$490,000 |
$245,000 |
$2,329 |
2.44% |
Bank Of Washington lent most frequently to those with DTI ratios
of 20-30%, with
157 originations.
The next most common DTI ratio? 30-36%,
with 78 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
400 |
$85,670,000 |
$214,175 |
$2,075 |
2.93% |
| Not applicable |
17 |
$8,765,000 |
$515,588 |
$0 |
4.48% |
| Not provided |
13 |
$2,985,000 |
$229,615 |
$2,189 |
2.94% |
| Black |
2 |
$310,000 |
$155,000 |
$3,886 |
3.05% |
| Asian |
1 |
$235,000 |
$235,000 |
$1,766 |
2.63% |
Approval Rates
Total approvals of all applications
94.84%
Bank Of Washington has an average approval rate.
Pick Rate
Approvals leading to origination
80.44%
Bank Of Washington has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| NA |
433 |
$97,965,000 |
$226,247 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
433 |
$97,965,000 |
$226,247 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
40 |
$5,350,000 |
$133,750 |
$1,576 |
2.53% |
| 40-60% |
74 |
$14,840,000 |
$200,541 |
$1,653 |
2.76% |
| 60-80% |
193 |
$46,585,000 |
$241,373 |
$1,773 |
3.01% |
| 80-100% |
116 |
$26,620,000 |
$229,483 |
$3,103 |
3.26% |
| Over 100% |
3 |
$3,875,000 |
$1,291,667 |
$6,025 |
3.63% |
| Under 20% |
7 |
$695,000 |
$99,286 |
$1,826 |
2.82% |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| BANK OF THE WEST |
Conventional home mortgage |
Applying for a mortgage or refinancing an existing mortgage |
5 |
16.7% |
| BANK OF THE WEST |
VA mortgage |
Trouble during payment process |
1 |
3.3% |
| BANK OF THE WEST |
Other type of mortgage |
Trouble during payment process |
2 |
6.7% |
| BANK OF THE WEST |
Other type of mortgage |
Struggling to pay mortgage |
1 |
3.3% |
| BANK OF THE WEST |
Other type of mortgage |
Closing on a mortgage |
1 |
3.3% |
| BANK OF THE WEST |
Other type of mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
3.3% |
| BANK OF THE WEST |
Home equity loan or line of credit (HELOC) |
Trouble during payment process |
3 |
10.0% |
| BANK OF THE WEST |
Home equity loan or line of credit (HELOC) |
Closing on a mortgage |
4 |
13.3% |
| BANK OF THE WEST |
Home equity loan or line of credit (HELOC) |
Applying for a mortgage or refinancing an existing mortgage |
2 |
6.7% |
| BANK OF THE WEST |
FHA mortgage |
Trouble during payment process |
1 |
3.3% |
| BANK OF THE WEST |
Conventional home mortgage |
Struggling to pay mortgage |
2 |
6.7% |
| BANK OF THE WEST |
Conventional home mortgage |
Closing on a mortgage |
1 |
3.3% |
| BANK OF THE WEST |
Conventional home mortgage |
Trouble during payment process |
6 |
20.0% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Bank of Washington |
2687 Highway 100 Gray Summit, MO 63039 |
Full Service B&M
|
$20,914 |
| Bank of Washington |
200 West Main Street Washington, MO 63090 |
Full Service B&M
|
$429,797 |
| Bank of Washington |
2073-A Washington Crossing Washington, MO 63090 |
Full Service B&M
|
$29,754 |
| Bank of Washington |
2629 East Fifth Street Washington, MO 63090 |
Full Service B&M
|
$39,226 |
| Bank of Washington |
3333 Hwy 100 Villa Ridge, MO 63089 |
Full Service B&M
|
$44,287 |
| Bank of Washington |
Fourteenth And Jefferson Streets Washington, MO 63090 |
Full Service B&M
|
$149,052 |
For 2021, Bank Of Washington had 6 branches.
Yearly Performance Overview
Bank Income
Bank Of Washington's gross interest income from loans was $35,541,000.
Bank Of Washington's net interest income from loans was $32,065,000.
Bank Of Washington's fee based income from loans was $1,700,000.
Bank Of Washington's net income from loans was $14,779,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$3,476 |
| Provision for credit losses |
$1,200 |
| Total noninterest expense |
$21,919 |
| Salaries and employee benefits |
$10,997 |
| Premises and equipment expense |
$2,067 |
| Additional noninterest expense |
$8,855 |
| Applicable income taxes |
$0 |
| Net charge-offs |
$-289 |
| Cash dividends |
$7,737 |
Bank Of Washington's interest expense for loans was $3,476,000.
Bank Of Washington's payroll and benefits expense were $10,997,000.
Bank Of Washington's property, plant and equipment expenses $2,067,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$753,442 |
| Deposits held in domestic offices |
$753,442 |
| Deposits by Individuals, partnerships, and corporations |
$723,284 |
| Deposits by U.S. Government |
$10 |
| Deposits by States and political subdivisions in the U.S. |
$29,155 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$993 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$81,210 |
| Demand deposits |
$57,252 |
| Nontransaction accounts |
$672,232 |
| Money market deposit accounts (MMDAs) |
$219,405 |
| Other savings deposits (excluding MMDAs) |
$356,868 |
| Total time deposits |
$95,960 |
| Total time and savings deposits |
$696,190 |
| Noninterest-bearing deposits |
$185,632 |
| Interest-bearing deposits |
$567,810 |
| Retail deposits |
$742,009 |
| IRAs and Keogh plan accounts |
$24,730 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$878,880 |
| Cash & Balances due from depository institutions |
$104,320 |
| Interest-bearing balances |
$94,377 |
| Total securities |
$32,181 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$697,275 |
| Loan and leases loss allowance |
$15,009 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$17,503 |
| Other real estate owned |
$14,027 |
| Goodwill and other intangibles |
$1,537 |
| All other assets |
$12,037 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$878,880 |
| Total Liabilities |
$773,063 |
| Total deposits |
$753,442 |
| Interest-bearing deposits |
$567,810 |
| Deposits held in domestic offices |
$753,442 |
| % insured (estimated) |
$65 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$15,000 |
| Subordinated debt |
$0 |
| All other liabilities |
$4,621 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$697,275 |
| Loan and leases loss allowance |
$15,009 |
| Total loans and leases (domestic) |
$712,284 |
| All real estate loans |
$489,107 |
| Real estate loans in domestic offices |
$489,107 |
| Construction and development loans |
$114,931 |
| Residential 1-4 family construction |
$5,714 |
| Other construction, all land development and other land |
$109,217 |
| Loans secured by nonfarm nonresidential properties |
$297,788 |
| Nonfarm nonresidential secured by owner-occupied properties |
$116,648 |
| Commercial real estate & other non-farm, non-residential |
$181,140 |
| Multifamily residential real estate |
$11,440 |
| 1-4 family residential loans |
$59,414 |
| Farmland loans |
$5,534 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$203 |
| Commercial and industrial loans |
$218,430 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$3,750 |
| Credit card loans |
$0 |
| Related Plans |
$0 |
| Consumer Auto Loans |
$849 |
| Other loans to individuals |
$2,901 |
| All other loans & leases |
$794 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$28 |
| Loans to depository institutions and acceptances of other banks |
$0 |
| Loans not secured by real estate |
$9,685 |
| Loans secured by real estate to non-U.S. addressees |
$0 |
| Restructured Loans & leases |
$1,840 |
| Non 1-4 family restructured loans & leases |
$604 |
| Total loans and leases (foreign) |
$0 |
Bank of Washington had $697,275,000 of loans outstanding in 2021. $489,107,000 of loans were in real estate loans.
$114,931,000 of loans were in development loans. $11,440,000 of loans were in multifamily mortgage loans.
$59,414,000 of loans were in 1-4 family mortgage loans. $203,000 of loans were in farm loans. $0
of loans were in credit card loans. $849,000 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 |
119 |
$29,017 |
$243,840 |
| Nonfarm, nonresidential loans - <$100k |
16 |
$641 |
$40,063 |
| Nonfarm, nonresidential loans - $100-250k |
42 |
$6,219 |
$148,071 |
| Nonfarm, nonresidential loans - $250k-1MM |
61 |
$22,157 |
$363,230 |
| Commercial & Industrial, US addressed loans - <$1MM |
296 |
$36,125 |
$122,044 |
| Commercial & Industrial, US addressed loans - <$100k |
155 |
$3,454 |
$22,284 |
| Commercial & Industrial, US addressed loans - $100-250k |
52 |
$3,862 |
$74,269 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
89 |
$28,809 |
$323,697 |
| Farmland loans - <$1MM |
12 |
$1,376 |
$114,667 |
| Farmland loans - <$100k |
6 |
$312 |
$52,000 |
| Farmland loans - $100-250k |
3 |
$255 |
$85,000 |
| Farmland loans - $250k-1MM |
3 |
$809 |
$269,667 |
| Agriculture operations loans - <$1MM |
7 |
$203 |
$29,000 |
| Agriculture operations loans - <$100k |
7 |
$203 |
$29,000 |
