Horatio State Bank Mortgage Rates, Fees & Info

Horatio, AR

LEI: 5493006ZPOXWU5V4FT07

Tax ID: 71-0089220

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Mortgage Data

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

    Horatio State Bank is a smaller bank specializing in Home Purchase loans. Horatio State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Texarkana, Hope, and Arkadelphia among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Horatio State 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

    159

    Origination Dollar Volume (All Markets)

    $8,115,000

    Employee count

    39

    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
    Outside of Metro Areas 111 $5,685,000 $51,216 $712 7.04%
    TEXARKANA, TX-AR (FHA|USDA|VA) 43 $2,305,000 $53,605 $819 7.12%
    Hope, AR (FHA|USDA|VA) 4 $110,000 $27,500 $613 6.79%
    Arkadelphia, AR (FHA|USDA|VA) 1 $15,000 $15,000 $0 6.50%
    Horatio State Bank's top markets include Texarkana, Hope, and Arkadelphia among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 159 $8,115,000 $51,038 $738 7.05%

    For 2018, Horatio State Bank's most frequently originated type of loan was Conventional, with 159 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 107 $5,795,000 $54,159 $792 7.04%
    Cash Out Refi 17 $925,000 $54,412 $584 7.10%
    Home Improvement 15 $405,000 $27,000 $670 7.05%
    Other 11 $315,000 $28,636 $573 6.73%
    Refi 9 $675,000 $75,000 $767 7.47%

    For 2018, Horatio State Bank's most frequently cited loan purpose was Home Purchase, with 107 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 129 $6,115,000 $47,403 $738 6.99%
    5 Year 26 $1,790,000 $68,846 $0 7.37%
    1 Year 4 $210,000 $52,500 $0 7.13%

    For 2018, Horatio State Bank's most frequently cited loan duration was Other, with 129 originations. The 2nd most popular length was 5 Year, with 26 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 99 $5,295,000 $53,485

    Horatio State Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 99 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 77 $3,755,000 $48,766
    7-8% 60 $2,890,000 $48,167
    5-6% 10 $980,000 $98,000
    Over 8% 10 $280,000 $28,000
    3-4% 1 $15,000 $15,000
    4-5% 1 $195,000 $195,000

    During 2018, Horatio State Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 77 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 143 $5,805,000 $40,594 $685 7.12%
    $100k-200k 13 $1,595,000 $122,692 $1,092 6.40%
    $200k-400k 3 $715,000 $238,333 $1,550 6.77%

    2018 saw Horatio State Bank place emphasis on $100,000 or less loans with 143 originations, totaling $5,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 81 $2,855,000 $35,247 $673 7.06%
    $50k-75k 35 $1,765,000 $50,429 $790 7.28%
    $75k-100k 22 $1,730,000 $78,636 $945 6.96%
    $100k-150k 13 $1,105,000 $85,000 $795 6.95%
    $250k+ 3 $115,000 $38,333 $27 6.08%
    $150k-250k 1 $45,000 $45,000 $0 7.00%

    Horatio State Bank lent most frequently to those with incomes in the $50k or less range, with 81 originations. The second most popular income band? $50k-75k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 38 $1,360,000 $35,789 $774 7.19%
    20-30% 33 $1,695,000 $51,364 $743 6.83%
    30-36% 26 $1,520,000 $58,462 $722 7.02%
    43% 8 $320,000 $40,000 $738 6.99%
    >60% 6 $490,000 $81,667 $0 7.46%
    39% 6 $370,000 $61,667 $756 7.18%
    46% 6 $330,000 $55,000 $804 6.95%
    37% 5 $185,000 $37,000 $533 7.17%
    50-60% 4 $190,000 $47,500 $0 7.50%
    45% 4 $170,000 $42,500 $473 6.99%
    40% 4 $290,000 $72,500 $1,159 6.93%
    47% 3 $155,000 $51,667 $623 6.99%
    38% 3 $275,000 $91,667 $975 7.56%
    44% 3 $185,000 $61,667 $602 7.17%
    48% 3 $125,000 $41,667 $621 7.55%
    36% 2 $170,000 $85,000 $650 6.63%
    41% 1 $15,000 $15,000 $0 6.00%
    42% 1 $25,000 $25,000 $428 7.25%

    Horatio State Bank lent most frequently to those with DTI ratios of <20%, with 38 originations. The next most common DTI ratio? 20-30%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 150 $7,510,000 $50,067 $738 7.06%
    Not applicable 3 $395,000 $131,667 $0 6.67%
    Black 6 $210,000 $35,000 $721 7.05%

    Approval Rates

    Total approvals of all applications
    93.71%

    Horatio State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.86%

    Horatio State 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
    NA 159 $8,115,000 $51,038

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $160,000 $80,000
    Single Family (1-4 Units):Manufactured 57 $2,015,000 $35,351
    Single Family (1-4 Units):Site-Built 100 $5,940,000 $59,400

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $310,000 $19,375 $546 7.15%
    40-60% 15 $845,000 $56,333 $1,100 7.07%
    60-80% 59 $2,825,000 $47,881 $686 7.10%
    80-100% 62 $3,930,000 $63,387 $762 7.04%
    Over 100% 3 $165,000 $55,000 $0 7.51%
    Under 20% 4 $40,000 $10,000 $400 5.68%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Horatio State Bank 707 Tracy Lawrence Avenue Foreman, AR 71836 Full Service B&M $9,855
    Horatio State Bank Pride And Main Horatio, AR 71842 Full Service B&M $166,410

    For 2018, Horatio State Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,498
    Net interest income $8,889
    Total noninterest income $421
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $211
    Trading account gains and fees $0
    Additional Noninterest Income $210
    Pre-tax net operating income $4,532
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,393
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,393
    Minority interest net income $0
    Net income $3,393
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,393

    Horatio State Bank's gross interest income from loans was $11,498,000.
    Horatio State Bank's net interest income from loans was $8,889,000.
    Horatio State Bank's fee based income from loans was $211,000.
    Horatio State Bank's net income from loans was $3,393,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,609
    Provision for credit losses $645
    Total noninterest expense $4,133
    Salaries and employee benefits $2,720
    Premises and equipment expense $345
    Additional noninterest expense $1,068
    Applicable income taxes $1,139
    Net charge-offs $425
    Cash dividends $786

    Horatio State Bank's interest expense for loans was $2,609,000.
    Horatio State Bank's payroll and benefits expense were $2,720,000.
    Horatio State Bank's property, plant and equipment expenses $345,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $185,000
    Deposits held in domestic offices $185,000
    Deposits by Individuals, partnerships, and corporations $149,727
    Deposits by U.S. Government $13
    Deposits by States and political subdivisions in the U.S. $24,206
    Deposits by Commercial banks and other depository institutions in U.S. $11,054
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $32,818
    Demand deposits $11,290
    Nontransaction accounts $152,182
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $25,502
    Total time deposits $126,680
    Total time and savings deposits $173,710
    Noninterest-bearing deposits $11,290
    Interest-bearing deposits $173,710
    Retail deposits $141,248
    IRAs and Keogh plan accounts $14,783
    Brokered deposits $21,178
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $208,873
    Cash & Balances due from depository institutions $24,309
    Interest-bearing balances $22,173
    Total securities $21,800
    Federal funds sold & reverse repurchase $400
    Net loans and leases $156,549
    Loan and leases loss allowance $2,726
    Trading account assets $0
    Bank premises and fixed assets $806
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $5,009

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $208,873
    Total Liabilities $185,267
    Total deposits $185,000
    Interest-bearing deposits $173,710
    Deposits held in domestic offices $185,000
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $267

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $156,549
    Loan and leases loss allowance $2,726
    Total loans and leases (domestic) $159,275
    All real estate loans $98,062
    Real estate loans in domestic offices $98,062
    Construction and development loans $2,596
    Residential 1-4 family construction $1,068
    Other construction, all land development and other land $1,528
    Loans secured by nonfarm nonresidential properties $15,138
    Nonfarm nonresidential secured by owner-occupied properties $14,638
    Commercial real estate & other non-farm, non-residential $500
    Multifamily residential real estate $527
    1-4 family residential loans $61,459
    Farmland loans $18,342
    Loans held in foreign offices $0
    Farm loans $7,347
    Commercial and industrial loans $11,917
    To non-U.S. addressees $0
    Loans to individuals $41,791
    Credit card loans $0
    Related Plans $19
    Consumer Auto Loans $20,273
    Other loans to individuals $21,499
    All other loans & leases $158
    Loans to foreign governments and official institutions $0
    Other loans $98
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Horatio State Bank had $156,549,000 of loans outstanding in 2018. $98,062,000 of loans were in real estate loans. $2,596,000 of loans were in development loans. $527,000 of loans were in multifamily mortgage loans. $61,459,000 of loans were in 1-4 family mortgage loans. $7,347,000 of loans were in farm loans. $0 of loans were in credit card loans. $20,273,000 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 130 $11,427 $87,900
    Nonfarm, nonresidential loans - <$100k 84 $2,977 $35,440
    Nonfarm, nonresidential loans - $100-250k 35 $4,839 $138,257
    Nonfarm, nonresidential loans - $250k-1MM 11 $3,611 $328,273
    Commercial & Industrial, US addressed loans - <$1MM 318 $11,873 $37,336
    Commercial & Industrial, US addressed loans - <$100k 286 $6,266 $21,909
    Commercial & Industrial, US addressed loans - $100-250k 24 $2,678 $111,583
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $2,929 $366,125
    Farmland loans - <$1MM 115 $11,410 $99,217
    Farmland loans - <$100k 65 $2,904 $44,677
    Farmland loans - $100-250k 34 $4,010 $117,941
    Farmland loans - $250k-1MM 16 $4,496 $281,000
    Agriculture operations loans - <$1MM 215 $6,205 $28,860
    Agriculture operations loans - <$100k 200 $4,206 $21,030
    Agriculture operations loans - $100-250k 14 $1,702 $121,571
    Agriculture operations loans - $250k-1MM 1 $297 $297,000