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, Ada, Hot Springs, 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

    164

    Origination Dollar Volume (All Markets)

    $10,280,000

    Employee count

    41

    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 101 $6,715,000 $66,485 $782 6.59%
    TEXARKANA, TX-AR (FHA|USDA|VA) 59 $3,425,000 $58,051 $802 6.44%
    Ada, OK (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.00%
    HOT SPRINGS, AR (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.41%
    Hope, AR (FHA|USDA|VA) 2 $30,000 $15,000 $433 6.18%
    Horatio State Bank's top markets include Texarkana, Ada, Hot Springs, 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 164 $10,280,000 $62,683 $780 6.52%

    For 2020, Horatio State Bank's most frequently originated type of loan was Conventional, with 164 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 107 $6,665,000 $62,290 $884 6.56%
    Home Improvement 24 $1,200,000 $50,000 $512 6.61%
    Cash Out Refi 21 $1,535,000 $73,095 $697 6.22%
    Other 10 $850,000 $85,000 $579 6.44%
    Refi 2 $30,000 $15,000 $0 7.01%

    For 2020, Horatio State Bank's most frequently cited loan purpose was Home Purchase, with 107 originations. The 2nd most popular reason was Home Improvement, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 123 $7,185,000 $58,415 $777 6.41%
    5 Year 37 $2,735,000 $73,919 $0 6.92%
    10 Year 2 $80,000 $40,000 $1,078 6.25%
    1 Year 2 $280,000 $140,000 $0 6.25%

    For 2020, Horatio State Bank's most frequently cited loan duration was Other, with 123 originations. The 2nd most popular length was 5 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 87 $5,845,000 $67,184

    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 87 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 95 $5,865,000 $61,737
    5-6% 35 $2,995,000 $85,571
    7-8% 21 $635,000 $30,238
    4-5% 8 $660,000 $82,500
    Over 8% 5 $125,000 $25,000

    During 2020, 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 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 134 $5,260,000 $39,254 $661 6.61%
    $100k-200k 23 $3,165,000 $137,609 $1,133 6.09%
    $200k-400k 6 $1,350,000 $225,000 $1,756 6.08%
    $400k-600k 1 $505,000 $505,000 $0 6.50%

    2020 saw Horatio State Bank place emphasis on $100,000 or less loans with 134 originations, totaling $5,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 66 $2,750,000 $41,667 $628 6.58%
    $50k-75k 40 $2,350,000 $58,750 $805 6.49%
    $100k-150k 24 $2,170,000 $90,417 $1,206 6.64%
    $75k-100k 20 $1,270,000 $63,500 $794 6.31%
    $150k-250k 3 $285,000 $95,000 $0 6.50%
    $250k+ 2 $170,000 $85,000 $2,029 5.75%

    Horatio State Bank lent most frequently to those with incomes in the $50k or less range, with 66 originations. The second most popular income band? $50k-75k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 39 $2,195,000 $56,282 $942 6.34%
    <20% 23 $875,000 $38,043 $672 6.52%
    30-36% 22 $1,490,000 $67,727 $797 6.33%
    >60% 17 $1,355,000 $79,706 $428 6.87%
    48% 10 $780,000 $78,000 $863 6.85%
    47% 6 $270,000 $45,000 $657 6.93%
    43% 5 $435,000 $87,000 $608 5.88%
    50-60% 5 $195,000 $39,000 $340 6.34%
    46% 5 $295,000 $59,000 $863 6.74%
    37% 4 $180,000 $45,000 $353 6.38%
    44% 4 $140,000 $35,000 $655 6.88%
    45% 4 $450,000 $112,500 $1,182 6.21%
    42% 3 $195,000 $65,000 $560 5.75%
    38% 3 $135,000 $45,000 $516 6.55%
    36% 3 $115,000 $38,333 $851 6.93%
    40% 2 $90,000 $45,000 $852 7.25%
    41% 2 $30,000 $15,000 $0 8.00%
    39% 1 $25,000 $25,000 $583 6.50%
    49% 1 $265,000 $265,000 $1,474 6.50%

    Horatio State Bank lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? <20%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 139 $7,725,000 $55,576 $780 6.52%
    Not applicable 9 $1,285,000 $142,778 $0 6.50%
    Black 14 $940,000 $67,143 $706 6.50%
    American Indian 2 $330,000 $165,000 $1,091 6.47%

    Approval Rates

    Total approvals of all applications
    93.65%

    Horatio State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.07%

    Horatio State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 164 $10,280,000 $62,683

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $75,000 $75,000
    Single Family (1-4 Units):Manufactured 58 $2,330,000 $40,172
    Single Family (1-4 Units):Site-Built 105 $7,875,000 $75,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $520,000 $28,889 $609 6.37%
    40-60% 28 $1,280,000 $45,714 $877 6.35%
    60-80% 68 $4,200,000 $61,765 $862 6.64%
    80-100% 44 $3,580,000 $81,364 $690 6.49%
    Over 100% 1 $505,000 $505,000 $0 6.50%
    Under 20% 5 $195,000 $39,000 $440 6.69%

    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 $18,581
    Horatio State Bank Pride And Main Horatio, AR 71842 Full Service B&M $195,202

    For 2020, Horatio State Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,584
    Net interest income $9,950
    Total noninterest income $397
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $182
    Trading account gains and fees $0
    Additional Noninterest Income $215
    Pre-tax net operating income $4,889
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,691
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,691
    Minority interest net income $0
    Net income $3,691
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,691

    Horatio State Bank's gross interest income from loans was $13,584,000.
    Horatio State Bank's net interest income from loans was $9,950,000.
    Horatio State Bank's fee based income from loans was $182,000.
    Horatio State Bank's net income from loans was $3,691,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,634
    Provision for credit losses $1,014
    Total noninterest expense $4,444
    Salaries and employee benefits $2,983
    Premises and equipment expense $415
    Additional noninterest expense $1,046
    Applicable income taxes $1,198
    Net charge-offs $849
    Cash dividends $1,015

    Horatio State Bank's interest expense for loans was $3,634,000.
    Horatio State Bank's payroll and benefits expense were $2,983,000.
    Horatio State Bank's property, plant and equipment expenses $415,000.

    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 1.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 2.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $211,214
    Deposits held in domestic offices $211,214
    Deposits by Individuals, partnerships, and corporations $178,950
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $21,982
    Deposits by Commercial banks and other depository institutions in U.S. $10,277
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $43,052
    Demand deposits $16,364
    Nontransaction accounts $168,162
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $34,847
    Total time deposits $133,315
    Total time and savings deposits $194,850
    Noninterest-bearing deposits $16,364
    Interest-bearing deposits $194,850
    Retail deposits $170,316
    IRAs and Keogh plan accounts $15,458
    Brokered deposits $10,061
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $240,227
    Cash & Balances due from depository institutions $27,357
    Interest-bearing balances $24,413
    Total securities $23,494
    Federal funds sold & reverse repurchase $250
    Net loans and leases $181,467
    Loan and leases loss allowance $3,035
    Trading account assets $0
    Bank premises and fixed assets $758
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,901

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $240,227
    Total Liabilities $211,480
    Total deposits $211,214
    Interest-bearing deposits $194,850
    Deposits held in domestic offices $211,214
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $266

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $181,467
    Loan and leases loss allowance $3,035
    Total loans and leases (domestic) $184,502
    All real estate loans $118,393
    Real estate loans in domestic offices $118,393
    Construction and development loans $7,414
    Residential 1-4 family construction $2,128
    Other construction, all land development and other land $5,286
    Loans secured by nonfarm nonresidential properties $15,600
    Nonfarm nonresidential secured by owner-occupied properties $15,149
    Commercial real estate & other non-farm, non-residential $451
    Multifamily residential real estate $496
    1-4 family residential loans $63,373
    Farmland loans $31,510
    Loans held in foreign offices $0
    Farm loans $7,761
    Commercial and industrial loans $14,699
    To non-U.S. addressees $0
    Loans to individuals $42,338
    Credit card loans $0
    Related Plans $359
    Consumer Auto Loans $20,631
    Other loans to individuals $21,348
    All other loans & leases $1,311
    Loans to foreign governments and official institutions $0
    Other loans $386
    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 $181,467,000 of loans outstanding in 2020. $118,393,000 of loans were in real estate loans. $7,414,000 of loans were in development loans. $496,000 of loans were in multifamily mortgage loans. $63,373,000 of loans were in 1-4 family mortgage loans. $7,761,000 of loans were in farm loans. $0 of loans were in credit card loans. $20,631,000 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 126 $12,612 $100,095
    Nonfarm, nonresidential loans - <$100k 77 $3,109 $40,377
    Nonfarm, nonresidential loans - $100-250k 34 $4,630 $136,176
    Nonfarm, nonresidential loans - $250k-1MM 15 $4,873 $324,867
    Commercial & Industrial, US addressed loans - <$1MM 366 $14,606 $39,907
    Commercial & Industrial, US addressed loans - <$100k 329 $7,548 $22,942
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,918 $112,231
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $4,140 $376,364
    Farmland loans - <$1MM 123 $14,055 $114,268
    Farmland loans - <$100k 67 $3,089 $46,104
    Farmland loans - $100-250k 36 $4,941 $137,250
    Farmland loans - $250k-1MM 20 $6,025 $301,250
    Agriculture operations loans - <$1MM 224 $6,779 $30,263
    Agriculture operations loans - <$100k 207 $4,524 $21,855
    Agriculture operations loans - $100-250k 14 $1,710 $122,143
    Agriculture operations loans - $250k-1MM 3 $545 $181,667