Horatio State Bank Mortgage Rates, Fees & Info

Horatio, AR

LEI: 5493006ZPOXWU5V4FT07

Tax ID: 71-0089220

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

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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 and Cash Out Refi loans. Horatio State Bank has a high proportion of conventional loans. Their top two markets are Texarkana and Hope .

    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

    193

    Origination Dollar Volume (All Markets)

    $14,275,000

    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 125 $8,795,000 $70,360 $815 6.19%
    TEXARKANA, TX-AR (FHA|USDA|VA) 63 $4,865,000 $77,222 $810 6.17%
    Hope, AR (FHA|USDA|VA) 5 $615,000 $123,000 $888 6.00%
    Horatio State Bank's top markets include Texarkana 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 193 $14,275,000 $73,964 $814 6.18%

    For 2021, Horatio State Bank's most frequently originated type of loan was Conventional, with 193 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 114 $7,820,000 $68,596 $926 6.27%
    Cash Out Refi 45 $3,175,000 $70,556 $590 6.00%
    Home Improvement 16 $1,150,000 $71,875 $628 6.15%
    Refi 11 $1,535,000 $139,545 $1,151 5.87%
    Other 7 $595,000 $85,000 $713 6.43%

    For 2021, Horatio State Bank's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 132 $9,170,000 $69,470 $814 6.02%
    5 Year 57 $4,635,000 $81,316 $0 6.54%
    1 Year 3 $465,000 $155,000 $0 6.17%
    3 Year 1 $5,000 $5,000 $0 6.50%

    For 2021, Horatio State Bank's most frequently cited loan duration was Other, with 132 originations. The 2nd most popular length was 5 Year, with 57 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 108 $7,860,000 $72,778

    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 108 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 93 $7,455,000 $80,161
    6-7% 75 $4,645,000 $61,933
    7-8% 15 $455,000 $30,333
    4-5% 9 $1,695,000 $188,333
    Over 8% 1 $25,000 $25,000

    During 2021, Horatio State Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 152 $7,080,000 $46,579 $773 6.26%
    $100k-200k 32 $4,510,000 $140,938 $964 5.94%
    $200k-400k 7 $1,805,000 $257,857 $1,139 5.64%
    $400k-600k 2 $880,000 $440,000 $0 5.50%

    2021 saw Horatio State Bank place emphasis on $100,000 or less loans with 152 originations, totaling $7,080,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 70 $3,010,000 $43,000 $780 6.18%
    $50k-75k 52 $3,730,000 $71,731 $858 6.21%
    $75k-100k 26 $1,970,000 $75,769 $812 6.37%
    $100k-150k 21 $2,055,000 $97,857 $750 6.22%
    $150k-250k 18 $2,240,000 $124,444 $1,017 5.92%
    $250k+ 1 $105,000 $105,000 $0 5.00%

    Horatio State Bank lent most frequently to those with incomes in the $50k or less range, with 70 originations. The second most popular income band? $50k-75k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $3,270,000 $71,087 $891 6.08%
    <20% 32 $1,540,000 $48,125 $730 6.10%
    30-36% 32 $2,170,000 $67,813 $813 6.04%
    >60% 16 $1,410,000 $88,125 $218 6.46%
    50-60% 12 $1,220,000 $101,667 $646 6.36%
    37% 6 $330,000 $55,000 $640 5.95%
    43% 6 $480,000 $80,000 $909 6.04%
    38% 5 $315,000 $63,000 $810 6.95%
    48% 5 $465,000 $93,000 $728 6.28%
    42% 5 $355,000 $71,000 $463 6.23%
    40% 4 $150,000 $37,500 $1,488 6.43%
    41% 4 $290,000 $72,500 $1,126 6.27%
    46% 4 $170,000 $42,500 $1,081 6.84%
    45% 3 $105,000 $35,000 $383 6.45%
    39% 3 $345,000 $115,000 $1,198 6.17%
    47% 2 $190,000 $95,000 $478 5.97%
    36% 1 $55,000 $55,000 $708 5.95%

    Horatio State Bank lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? <20%, with 32 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 171 $11,975,000 $70,029 $819 6.20%
    Black 14 $1,340,000 $95,714 $639 6.09%
    Not applicable 4 $730,000 $182,500 $0 5.75%
    American Indian 4 $230,000 $57,500 $1,137 6.13%

    Approval Rates

    Total approvals of all applications
    97.24%

    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
    90.67%

    Horatio State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 193 $14,275,000 $73,964

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    193 $14,275,000 $73,964

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $490,000 $30,625 $753 6.55%
    40-60% 37 $2,535,000 $68,514 $771 6.17%
    60-80% 79 $6,595,000 $83,481 $871 6.16%
    80-100% 60 $4,640,000 $77,333 $767 6.09%
    Under 20% 1 $15,000 $15,000 $0 7.75%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Horatio State Bank 123 W Main St Horatio, AR 71842 Full Service B&M $187,179
    Horatio State Bank 707 Tracy Lawrence Avenue Foreman, AR 71836 Full Service B&M $22,966

    For 2021, Horatio State Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,981
    Net interest income $10,077
    Total noninterest income $355
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $167
    Trading account gains and fees $0
    Additional Noninterest Income $188
    Pre-tax net operating income $4,764
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,610
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,610
    Minority interest net income $0
    Net income $3,610
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,610

    Horatio State Bank's gross interest income from loans was $12,981,000.
    Horatio State Bank's net interest income from loans was $10,077,000.
    Horatio State Bank's fee based income from loans was $167,000.
    Horatio State Bank's net income from loans was $3,610,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,904
    Provision for credit losses $930
    Total noninterest expense $4,738
    Salaries and employee benefits $3,138
    Premises and equipment expense $486
    Additional noninterest expense $1,114
    Applicable income taxes $1,154
    Net charge-offs $781
    Cash dividends $1,516

    Horatio State Bank's interest expense for loans was $2,904,000.
    Horatio State Bank's payroll and benefits expense were $3,138,000.
    Horatio State Bank's property, plant and equipment expenses $486,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    Personal loans 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 1.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $211,984
    Deposits held in domestic offices $211,984
    Deposits by Individuals, partnerships, and corporations $182,317
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $23,314
    Deposits by Commercial banks and other depository institutions in U.S. $6,353
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $47,189
    Demand deposits $16,931
    Nontransaction accounts $164,795
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $33,819
    Total time deposits $130,976
    Total time and savings deposits $195,053
    Noninterest-bearing deposits $16,931
    Interest-bearing deposits $195,053
    Retail deposits $170,545
    IRAs and Keogh plan accounts $15,340
    Brokered deposits $2,233
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $242,780
    Cash & Balances due from depository institutions $20,152
    Interest-bearing balances $18,200
    Total securities $29,569
    Federal funds sold & reverse repurchase $0
    Net loans and leases $185,237
    Loan and leases loss allowance $3,184
    Trading account assets $0
    Bank premises and fixed assets $714
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $7,108

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $242,780
    Total Liabilities $212,217
    Total deposits $211,984
    Interest-bearing deposits $195,053
    Deposits held in domestic offices $211,984
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $233

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $185,237
    Loan and leases loss allowance $3,184
    Total loans and leases (domestic) $188,421
    All real estate loans $121,141
    Real estate loans in domestic offices $121,141
    Construction and development loans $9,537
    Residential 1-4 family construction $2,802
    Other construction, all land development and other land $6,735
    Loans secured by nonfarm nonresidential properties $16,022
    Nonfarm nonresidential secured by owner-occupied properties $15,624
    Commercial real estate & other non-farm, non-residential $398
    Multifamily residential real estate $929
    1-4 family residential loans $63,305
    Farmland loans $31,348
    Loans held in foreign offices $0
    Farm loans $7,437
    Commercial and industrial loans $16,667
    To non-U.S. addressees $0
    Loans to individuals $42,255
    Credit card loans $0
    Related Plans $290
    Consumer Auto Loans $19,797
    Other loans to individuals $22,168
    All other loans & leases $921
    Loans to foreign governments and official institutions $0
    Other loans $218
    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 $185,237,000 of loans outstanding in 2021. $121,141,000 of loans were in real estate loans. $9,537,000 of loans were in development loans. $929,000 of loans were in multifamily mortgage loans. $63,305,000 of loans were in 1-4 family mortgage loans. $7,437,000 of loans were in farm loans. $0 of loans were in credit card loans. $19,797,000 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 122 $13,521 $110,828
    Nonfarm, nonresidential loans - <$100k 74 $3,091 $41,770
    Nonfarm, nonresidential loans - $100-250k 33 $4,428 $134,182
    Nonfarm, nonresidential loans - $250k-1MM 15 $6,002 $400,133
    Commercial & Industrial, US addressed loans - <$1MM 338 $14,209 $42,038
    Commercial & Industrial, US addressed loans - <$100k 295 $7,030 $23,831
    Commercial & Industrial, US addressed loans - $100-250k 32 $3,533 $110,406
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $3,646 $331,455
    Farmland loans - <$1MM 120 $13,277 $110,642
    Farmland loans - <$100k 70 $3,222 $46,029
    Farmland loans - $100-250k 33 $4,772 $144,606
    Farmland loans - $250k-1MM 17 $5,283 $310,765
    Agriculture operations loans - <$1MM 203 $6,279 $30,931
    Agriculture operations loans - <$100k 184 $3,834 $20,837
    Agriculture operations loans - $100-250k 16 $1,871 $116,938
    Agriculture operations loans - $250k-1MM 3 $574 $191,333