Bank Of Washington Mortgage Rates, Fees & Info

Washington, MO

LEI: 54930044G6TGPFFTFM49

Tax ID: 43-0170340

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    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 by origination volume include: St. Louis, Sevierville, Naples, Rolla, and Kansas City among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Washington 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. Bank Of Washington is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.22% 12/3/24
    30 Year Conventional Refi 6.31% 12/3/24
    30 Year Cash-out Refi 6.16% 12/3/24
    30 Year USDA Purchase 6.23% 12/3/24
    15 Year Conventional Purchase 5.71% 12/3/24
    15 Year Conventional Refi 5.83% 12/3/24
    15 Year Cash-out Refi 5.83% 12/3/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Bank Of Washington Mortgage Calculator






    Your Estimates

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    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    433

    Origination Dollar Volume (All Markets)

    $97,965,000

    Employee count

    114

    Awards

    Bank of Washington 30 Year Conventional Loans silver Bank of Washington 30 Year Conventional Loans gold
    Show all (2) awards

    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
    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.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Bank of Washington based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Town & Country Bank
    Similarity Rank: 328
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 370
    CapGrow Home Mortgage, LLC
    Similarity Rank: 552
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 627
    JERSEY STATE BANK
    Similarity Rank: 725
    HNB National Bank
    Similarity Rank: 910
    First National Bank of Waterloo
    Similarity Rank: 938
    VANTAGE Credit Union
    Similarity Rank: 1010
    Providence Bank
    Similarity Rank: 1102
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1260

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 407 $93,315,000 $229,275 $1,911 3.01%
    USDA 26 $4,650,000 $178,846 $4,610 2.76%

    For 2021, Bank Of Washington's most frequently originated type of loan was Conventional, with 407 originations. Their 2nd most popular type was USDA, with 26 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Bank Of Washington's most frequently cited loan purpose was Home Purchase, with 155 originations. The 2nd most popular reason was 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 2021, Bank Of Washington's most frequently cited loan duration was 30 Year, with 241 originations. The 2nd most popular length was 15 Year, with 110 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    Bank Of Washington's average total fees were $2,432, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.14%, while their most frequently originated rate bucket for loans was 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
    97.10%

    Bank Of Washington 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
    83.83%

    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 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 2687 Highway 100 Gray Summit, MO 63039 Full Service B&M $20,914
    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

    Item Value (in 000's)
    Total interest income $35,541
    Net interest income $32,065
    Total noninterest income $5,833
    Gross Fiduciary activities income $20
    Service charges on deposit accounts $1,700
    Trading account gains and fees $0
    Additional Noninterest Income $4,113
    Pre-tax net operating income $14,779
    Securities gains (or losses, -) $0
    Income before extraordinary items $14,779
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,779
    Minority interest net income $0
    Net income $14,779
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,779

    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.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 12.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 2.0%
    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 $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