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, Little Rock, Arkadelphia, and Hope among others. We have data for 5 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

    202

    Origination Dollar Volume (All Markets)

    $12,730,000

    Employee count

    42

    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 134 $8,330,000 $62,164 $670 7.10%
    TEXARKANA, TX-AR (FHA|USDA|VA) 62 $4,080,000 $65,806 $804 7.03%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.00%
    Arkadelphia, AR (FHA|USDA|VA) 2 $80,000 $40,000 $392 6.50%
    Hope, AR (FHA|USDA|VA) 3 $65,000 $21,667 $362 7.13%
    Horatio State Bank's top markets include Texarkana, Little Rock, Arkadelphia, and Hope 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 202 $12,730,000 $63,020 $703 7.07%

    For 2019, Horatio State Bank's most frequently originated type of loan was Conventional, with 202 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 131 $8,875,000 $67,748 $813 7.07%
    Cash Out Refi 32 $2,240,000 $70,000 $637 7.06%
    Home Improvement 23 $835,000 $36,304 $401 7.25%
    Refi 11 $625,000 $56,818 $406 6.50%
    Other 5 $155,000 $31,000 $396 7.27%

    For 2019, Horatio State Bank's most frequently cited loan purpose was Home Purchase, with 131 originations. The 2nd most popular reason was Cash Out Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 162 $10,100,000 $62,346 $703 7.00%
    5 Year 36 $2,130,000 $59,167 $0 7.37%
    1 Year 4 $500,000 $125,000 $0 6.88%

    For 2019, Horatio State Bank's most frequently cited loan duration was Other, with 162 originations. The 2nd most popular length was 5 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 123 $8,655,000 $70,366

    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 123 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 110 $6,730,000 $61,182
    7-8% 67 $4,765,000 $71,119
    Over 8% 15 $415,000 $27,667
    5-6% 8 $540,000 $67,500
    4-5% 2 $280,000 $140,000

    During 2019, 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 110 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 165 $7,075,000 $42,879 $615 7.13%
    $100k-200k 34 $4,790,000 $140,882 $953 6.82%
    $200k-400k 3 $865,000 $288,333 $1,828 6.34%

    2019 saw Horatio State Bank place emphasis on $100,000 or less loans with 165 originations, totaling $7,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 77 $2,925,000 $37,987 $636 7.02%
    $75k-100k 46 $3,590,000 $78,043 $736 7.19%
    $50k-75k 43 $2,475,000 $57,558 $708 7.21%
    $100k-150k 15 $1,515,000 $101,000 $764 6.71%
    $150k-250k 11 $1,195,000 $108,636 $1,164 7.26%
    $250k+ 5 $505,000 $101,000 $115 5.98%

    Horatio State Bank lent most frequently to those with incomes in the $50k or less range, with 77 originations. The second most popular income band? $75k-100k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 57 $3,185,000 $55,877 $588 7.08%
    30-36% 32 $1,820,000 $56,875 $680 7.11%
    <20% 31 $1,445,000 $46,613 $584 6.87%
    50-60% 15 $1,285,000 $85,667 $1,152 7.29%
    36% 10 $910,000 $91,000 $898 6.80%
    38% 7 $755,000 $107,857 $956 7.17%
    >60% 6 $420,000 $70,000 $0 7.08%
    37% 6 $240,000 $40,000 $619 7.04%
    45% 6 $470,000 $78,333 $623 6.68%
    42% 5 $235,000 $47,000 $801 7.55%
    47% 5 $285,000 $57,000 $610 7.26%
    49% 4 $390,000 $97,500 $517 7.36%
    48% 4 $210,000 $52,500 $733 6.95%
    46% 3 $265,000 $88,333 $790 7.08%
    44% 3 $295,000 $98,333 $744 6.91%
    39% 3 $295,000 $98,333 $1,048 7.47%
    41% 2 $90,000 $45,000 $498 6.88%
    40% 1 $25,000 $25,000 $955 7.25%
    43% 1 $95,000 $95,000 $1,122 7.27%

    Horatio State Bank lent most frequently to those with DTI ratios of 20-30%, with 57 originations. The next most common DTI ratio? 30-36%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 188 $11,920,000 $63,404 $709 7.07%
    Not applicable 5 $525,000 $105,000 $0 7.10%
    Black 7 $195,000 $27,857 $601 6.92%
    American Indian 2 $90,000 $45,000 $624 7.03%

    Approval Rates

    Total approvals of all applications
    95.48%

    Horatio State 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
    95.54%

    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 202 $12,730,000 $63,020

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 74 $3,160,000 $42,703
    Single Family (1-4 Units):Site-Built 128 $9,570,000 $74,766

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $520,000 $32,500 $485 6.90%
    40-60% 24 $1,160,000 $48,333 $529 6.95%
    60-80% 84 $5,390,000 $64,167 $697 7.09%
    80-100% 70 $5,450,000 $77,857 $848 7.05%
    Over 100% 4 $160,000 $40,000 $429 7.45%
    Under 20% 4 $50,000 $12,500 $210 7.84%

    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 $14,938
    Horatio State Bank Pride And Main Horatio, AR 71842 Full Service B&M $172,102

    For 2019, Horatio State Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,941
    Net interest income $9,195
    Total noninterest income $513
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $223
    Trading account gains and fees $0
    Additional Noninterest Income $290
    Pre-tax net operating income $4,388
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,304
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,304
    Minority interest net income $0
    Net income $3,304
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,304

    Horatio State Bank's gross interest income from loans was $12,941,000.
    Horatio State Bank's net interest income from loans was $9,195,000.
    Horatio State Bank's fee based income from loans was $223,000.
    Horatio State Bank's net income from loans was $3,304,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,746
    Provision for credit losses $760
    Total noninterest expense $4,560
    Salaries and employee benefits $2,886
    Premises and equipment expense $442
    Additional noninterest expense $1,232
    Applicable income taxes $1,084
    Net charge-offs $616
    Cash dividends $1,025

    Horatio State Bank's interest expense for loans was $3,746,000.
    Horatio State Bank's payroll and benefits expense were $2,886,000.
    Horatio State Bank's property, plant and equipment expenses $442,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    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 2.0%
    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 $199,248
    Deposits held in domestic offices $199,248
    Deposits by Individuals, partnerships, and corporations $162,801
    Deposits by U.S. Government $18
    Deposits by States and political subdivisions in the U.S. $23,941
    Deposits by Commercial banks and other depository institutions in U.S. $12,488
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $36,092
    Demand deposits $14,055
    Nontransaction accounts $163,156
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $28,953
    Total time deposits $134,203
    Total time and savings deposits $185,193
    Noninterest-bearing deposits $14,055
    Interest-bearing deposits $185,193
    Retail deposits $152,464
    IRAs and Keogh plan accounts $15,197
    Brokered deposits $19,679
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $225,655
    Cash & Balances due from depository institutions $19,621
    Interest-bearing balances $17,240
    Total securities $21,738
    Federal funds sold & reverse repurchase $250
    Net loans and leases $176,590
    Loan and leases loss allowance $2,871
    Trading account assets $0
    Bank premises and fixed assets $790
    Other real estate owned $41
    Goodwill and other intangibles $0
    All other assets $6,625

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $225,655
    Total Liabilities $199,509
    Total deposits $199,248
    Interest-bearing deposits $185,193
    Deposits held in domestic offices $199,248
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $261

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $176,590
    Loan and leases loss allowance $2,871
    Total loans and leases (domestic) $179,461
    All real estate loans $111,381
    Real estate loans in domestic offices $111,381
    Construction and development loans $7,822
    Residential 1-4 family construction $1,991
    Other construction, all land development and other land $5,831
    Loans secured by nonfarm nonresidential properties $15,546
    Nonfarm nonresidential secured by owner-occupied properties $15,064
    Commercial real estate & other non-farm, non-residential $482
    Multifamily residential real estate $520
    1-4 family residential loans $64,092
    Farmland loans $23,401
    Loans held in foreign offices $0
    Farm loans $7,898
    Commercial and industrial loans $14,085
    To non-U.S. addressees $0
    Loans to individuals $45,136
    Credit card loans $0
    Related Plans $120
    Consumer Auto Loans $21,844
    Other loans to individuals $23,172
    All other loans & leases $961
    Loans to foreign governments and official institutions $0
    Other loans $111
    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 $176,590,000 of loans outstanding in 2019. $111,381,000 of loans were in real estate loans. $7,822,000 of loans were in development loans. $520,000 of loans were in multifamily mortgage loans. $64,092,000 of loans were in 1-4 family mortgage loans. $7,898,000 of loans were in farm loans. $0 of loans were in credit card loans. $21,844,000 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 127 $12,183 $95,929
    Nonfarm, nonresidential loans - <$100k 78 $2,921 $37,449
    Nonfarm, nonresidential loans - $100-250k 35 $4,928 $140,800
    Nonfarm, nonresidential loans - $250k-1MM 14 $4,334 $309,571
    Commercial & Industrial, US addressed loans - <$1MM 397 $14,085 $35,479
    Commercial & Industrial, US addressed loans - <$100k 359 $7,847 $21,858
    Commercial & Industrial, US addressed loans - $100-250k 29 $2,990 $103,103
    Commercial & Industrial, US addressed loans - $250k-1MM 9 $3,248 $360,889
    Farmland loans - <$1MM 123 $13,573 $110,350
    Farmland loans - <$100k 68 $3,010 $44,265
    Farmland loans - $100-250k 36 $4,667 $129,639
    Farmland loans - $250k-1MM 19 $5,896 $310,316
    Agriculture operations loans - <$1MM 224 $6,903 $30,817
    Agriculture operations loans - <$100k 207 $4,362 $21,072
    Agriculture operations loans - $100-250k 14 $1,799 $128,500
    Agriculture operations loans - $250k-1MM 3 $742 $247,333