Springfield First Community Bank Mortgage Rates, Fees & Info
Springfield, MO
LEI: 5493007IES1RWVUDDU23
Tax ID: 26-3420981
5 stars
-
out of 5 stars, based on 25 reviews
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Mortgage Data
Bank Data
Overview
Springfield First Community Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
Springfield First Community Bank has a high proportion of conventional loans.
They have a a low proportion of FHA loans. (This may mean they shy away from
first time homebuyers.)
They have a low ratio of USDA loans.
Their top markets include Springfield, Wichita, Little Rock, Joplin, and Branson among others. Springfield First Community Bank has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Springfield First Community Bank is typically
a low fee
lendor.
Originations
627
Origination Dollar Volume (All Markets)
$226,345,000
Employee count
66
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Springfield First Community Bank - 2021
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Relative Rate
Springfield First Community Bank's average 30 year fixed rate mortgage of loans were
2.88%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.27%.
Relative Fees
Springfield First Community Bank's average total fees for a 30 year fixed rate
mortgage are $2,703.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
SPRINGFIELD, MO (FHA|USDA|VA)
|
524
|
$117,720,000 |
$224,656 |
$2,428 |
2.86% |
|
WICHITA, KS (FHA|USDA|VA)
|
2
|
$35,370,000 |
$17,685,000 |
$2,383 |
3.14% |
|
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA)
|
1
|
$26,395,000 |
$26,395,000 |
$0 |
3.65% |
|
JOPLIN, MO (FHA|USDA|VA)
|
4
|
$14,050,000 |
$3,512,500 |
$2,707 |
2.93% |
|
Outside of Metro Areas
|
32 |
$6,560,000 |
$205,000 |
$2,828 |
2.69% |
|
Branson, MO (FHA|USDA|VA)
|
10
|
$5,820,000 |
$582,000 |
$2,185 |
2.72% |
|
KANSAS CITY, MO-KS (FHA|USDA|VA)
|
15
|
$4,195,000 |
$279,667 |
$1,952 |
3.17% |
|
Key West, FL (FHA|USDA|VA)
|
1
|
$2,485,000 |
$2,485,000 |
$0 |
3.75% |
|
LONGVIEW, TX (FHA|USDA|VA)
|
1
|
$2,215,000 |
$2,215,000 |
$0 |
2.61% |
|
Weatherford, OK (FHA|USDA|VA)
|
1
|
$1,355,000 |
$1,355,000 |
$0 |
2.61% |
|
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA)
|
4
|
$1,270,000 |
$317,500 |
$2,577 |
3.82% |
|
Breckenridge, CO (FHA|USDA|VA)
|
1
|
$785,000 |
$785,000 |
$0 |
4.00% |
|
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA)
|
1
|
$775,000 |
$775,000 |
$3,056 |
3.25% |
|
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)
|
2
|
$670,000 |
$335,000 |
$2,541 |
3.25% |
|
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)
|
2
|
$670,000 |
$335,000 |
$3,808 |
2.56% |
|
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)
|
1
|
$545,000 |
$545,000 |
$4,194 |
2.25% |
|
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)
|
1
|
$545,000 |
$545,000 |
$24,855 |
2.63% |
|
West Plains, MO (FHA|USDA|VA)
|
2
|
$440,000 |
$220,000 |
$1,942 |
3.13% |
|
TOPEKA, KS (FHA|USDA|VA)
|
2
|
$370,000 |
$185,000 |
$5,714 |
3.19% |
|
RALEIGH-CARY, NC (FHA|USDA|VA)
|
1
|
$355,000 |
$355,000 |
$3,057 |
2.75% |
|
Lebanon, MO (FHA|USDA|VA)
|
2
|
$340,000 |
$170,000 |
$4,043 |
3.06% |
|
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA)
|
2
|
$340,000 |
$170,000 |
$1,843 |
2.38% |
|
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)
|
1
|
$335,000 |
$335,000 |
$4,148 |
3.13% |
|
Mexico, MO (FHA|USDA|VA)
|
1
|
$315,000 |
$315,000 |
$0 |
3.75% |
|
Harrison, AR (FHA|USDA|VA)
|
2
|
$310,000 |
$155,000 |
$2,160 |
2.69% |
|
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)
|
1
|
$305,000 |
$305,000 |
$3,801 |
2.75% |
|
Georgetown, SC (FHA|USDA|VA)
|
1
|
$285,000 |
$285,000 |
$3,326 |
2.63% |
|
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)
|
1
|
$275,000 |
$275,000 |
$0 |
4.38% |
|
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA)
|
1
|
$245,000 |
$245,000 |
$1,720 |
2.50% |
|
JACKSONVILLE, NC (FHA|USDA|VA)
|
1
|
$205,000 |
$205,000 |
$1,539 |
2.50% |
|
Brainerd, MN (FHA|USDA|VA)
|
1
|
$185,000 |
$185,000 |
$2,817 |
2.75% |
|
LANCASTER, PA (FHA|USDA|VA)
|
1
|
$185,000 |
$185,000 |
$6,950 |
3.13% |
|
JEFFERSON CITY, MO (FHA|USDA|VA)
|
2
|
$180,000 |
$90,000 |
$1,906 |
2.69% |
|
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)
|
1
|
$165,000 |
$165,000 |
$2,219 |
2.88% |
|
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$2,350 |
2.88% |
Springfield First Community Bank's top markets include Springfield, Wichita, Little Rock, Joplin, and Branson among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
586 |
$216,780,000 |
$369,932 |
$2,227 |
2.87% |
| FHA |
20 |
$4,300,000 |
$215,000 |
$5,932 |
3.11% |
| VA |
11 |
$3,175,000 |
$288,636 |
$6,982 |
2.55% |
| USDA |
10 |
$2,090,000 |
$209,000 |
$4,307 |
2.78% |
For the 2021 period, Springfield First Community Bank's most frequently
originated loan type
of loans were Conventional, with 586 originations.
Their 2nd most popular type is FHA,
with 20 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
324 |
$143,880,000 |
$444,074 |
$2,958 |
3.02% |
| Refi |
224 |
$65,470,000 |
$292,277 |
$1,998 |
2.67% |
| Cash Out Refi |
74 |
$15,980,000 |
$215,946 |
$2,200 |
2.80% |
| Other |
4 |
$920,000 |
$230,000 |
$3,489 |
3.00% |
| Home Improvement |
1 |
$95,000 |
$95,000 |
$2,090 |
2.75% |
For the 2021, Springfield First Community Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 324
originations.
The 2nd most popular reason of loans were Refi,
with 224 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 30 Year |
410 |
$90,000,000 |
$219,512 |
$2,703 |
2.88% |
| 15 Year |
108 |
$24,600,000 |
$227,778 |
$2,105 |
2.25% |
| 5 Year |
38 |
$76,830,000 |
$2,021,842 |
$1,899 |
3.96% |
| Other |
34 |
$12,540,000 |
$368,824 |
$1,366 |
3.29% |
| 20 Year |
21 |
$3,625,000 |
$172,619 |
$2,003 |
2.68% |
| 3 Year |
8 |
$3,900,000 |
$487,500 |
$2,166 |
3.53% |
| 1 Year |
4 |
$590,000 |
$147,500 |
$0 |
4.19% |
| 10 Year |
4 |
$14,260,000 |
$3,565,000 |
$2,317 |
2.87% |
For the 2021, Springfield First Community Bank's most frequently cited loan
length
of loans were 30 Year, with 410 originations.
The 2nd most popular length of loans were 15 Year,
with 108 originations.
Origination Fees
| Origination Fee |
Originations |
Total Value |
Average Loan |
| $<1k |
487 |
$110,705,000 |
$227,320 |
| $1k-2k |
18 |
$4,500,000 |
$250,000 |
| $3k-4k |
4 |
$1,130,000 |
$282,500 |
| $2k-3k |
3 |
$1,395,000 |
$465,000 |
| $5k+ |
1 |
$135,000 |
$135,000 |
$2,703 of loans were Springfield First Community Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 487 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| 2.5-3% |
260 |
$61,520,000 |
$236,615 |
| <2.5% |
190 |
$42,040,000 |
$221,263 |
| 3-4% |
149 |
$117,875,000 |
$791,107 |
| 4-5% |
27 |
$4,835,000 |
$179,074 |
| 5-6% |
1 |
$75,000 |
$75,000 |
During 2021, Springfield First Community Bank's average interest
rate of loans were 2.88%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 260 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-200k |
241 |
$35,485,000 |
$147,241 |
$2,184 |
2.87% |
| $200k-400k |
241 |
$65,795,000 |
$273,008 |
$2,785 |
2.82% |
| $100,000 or less |
80 |
$6,310,000 |
$78,875 |
$1,713 |
3.00% |
| $400k-600k |
47 |
$23,285,000 |
$495,426 |
$3,547 |
2.67% |
| $1MM+ |
12 |
$91,200,000 |
$7,600,000 |
$0 |
3.38% |
| $600k-1MM |
6 |
$4,270,000 |
$711,667 |
$2,496 |
3.75% |
2021 saw Springfield First Community Bank place emphasis on
$100k-200k loans
with 241 originations, totaling
$35,485,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $50k-75k |
124 |
$21,330,000 |
$172,016 |
$2,594 |
2.87% |
| $50k or less |
114 |
$15,730,000 |
$137,982 |
$2,405 |
2.82% |
| $100k-150k |
103 |
$25,275,000 |
$245,388 |
$2,700 |
2.72% |
| $75k-100k |
85 |
$18,615,000 |
$219,000 |
$2,451 |
2.72% |
| $150k-250k |
65 |
$18,905,000 |
$290,846 |
$2,451 |
2.91% |
| $250k+ |
42 |
$15,850,000 |
$377,381 |
$2,465 |
2.76% |
Springfield First Community Bank lent most frequently to those with incomes in the
$50k-75k range, with
124 originations.
The second most popular income band? $50k or less,
with 114 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-30% |
160 |
$33,360,000 |
$208,500 |
$2,372 |
2.73% |
| 30-36% |
114 |
$24,710,000 |
$216,754 |
$2,543 |
2.74% |
| <20% |
73 |
$16,555,000 |
$226,781 |
$2,069 |
2.64% |
| 44% |
27 |
$5,625,000 |
$208,333 |
$2,645 |
2.88% |
| 39% |
24 |
$6,520,000 |
$271,667 |
$2,583 |
2.90% |
| 41% |
21 |
$4,765,000 |
$226,905 |
$2,684 |
2.83% |
| 40% |
18 |
$4,140,000 |
$230,000 |
$2,607 |
2.85% |
| 42% |
17 |
$3,025,000 |
$177,941 |
$2,389 |
3.04% |
| 37% |
17 |
$3,745,000 |
$220,294 |
$2,565 |
3.04% |
| 43% |
16 |
$4,130,000 |
$258,125 |
$2,544 |
2.91% |
| 36% |
15 |
$3,545,000 |
$236,333 |
$2,706 |
2.86% |
| 38% |
13 |
$2,715,000 |
$208,846 |
$2,469 |
2.70% |
| 45% |
12 |
$2,050,000 |
$170,833 |
$3,401 |
2.86% |
| 47% |
11 |
$2,355,000 |
$214,091 |
$2,427 |
2.84% |
| 46% |
10 |
$3,080,000 |
$308,000 |
$3,467 |
2.89% |
| 48% |
9 |
$1,975,000 |
$219,444 |
$3,858 |
2.86% |
| 49% |
5 |
$1,265,000 |
$253,000 |
$3,372 |
2.45% |
| 50-60% |
4 |
$560,000 |
$140,000 |
$2,961 |
3.34% |
Springfield First Community Bank lent most frequently to those with DTI ratios
of 20-30%, with
160 originations.
The next most common DTI ratio? 30-36%,
with 114 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
537 |
$117,645,000 |
$219,078 |
$2,521 |
2.78% |
| Not applicable |
57 |
$101,345,000 |
$1,777,982 |
$0 |
3.74% |
| Not provided |
15 |
$3,025,000 |
$201,667 |
$2,594 |
2.83% |
| Black |
6 |
$1,730,000 |
$288,333 |
$2,516 |
2.83% |
| Asian |
7 |
$1,535,000 |
$219,286 |
$2,021 |
2.38% |
| American Indian |
3 |
$485,000 |
$161,667 |
$1,843 |
3.08% |
| Native Hawaiian |
1 |
$355,000 |
$355,000 |
$3,057 |
2.75% |
| Asian Indian |
1 |
$225,000 |
$225,000 |
$1,770 |
2.50% |
Approval Rates
Total approvals of all applications
96.81%
Springfield First Community 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
86.89%
Springfield First Community Bank has an average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| NA |
627 |
$226,345,000 |
$360,997 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
627 |
$226,345,000 |
$360,997 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
35 |
$5,405,000 |
$154,429 |
$1,926 |
2.63% |
| 40-60% |
112 |
$49,430,000 |
$441,339 |
$2,031 |
2.63% |
| 60-80% |
270 |
$114,730,000 |
$424,926 |
$2,216 |
2.96% |
| 80-100% |
203 |
$54,605,000 |
$268,990 |
$2,901 |
2.94% |
| Over 100% |
5 |
$1,585,000 |
$317,000 |
$12,533 |
2.68% |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| Spring Equity LLC |
Conventional home mortgage |
Trouble during payment process |
1 |
20.0% |
| Spring Equity LLC |
Home equity loan or line of credit (HELOC) |
Applying for a mortgage or refinancing an existing mortgage |
1 |
20.0% |
| Spring Equity LLC |
Home equity loan or line of credit (HELOC) |
Closing on a mortgage |
1 |
20.0% |
| Spring Equity LLC |
Home equity loan or line of credit (HELOC) |
Trouble during payment process |
2 |
40.0% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Springfield First Community Bank |
2006 South Glenstone Avenue Springfield, MO 65804 |
Full Service B&M
|
$608,676 |
For 2021, Springfield First Community Bank had 1 branches.
Yearly Performance Overview
Bank Income
Springfield First Community Bank's gross interest income from loans was $29,446,000.
Springfield First Community Bank's net interest income from loans was $26,351,000.
Springfield First Community Bank's fee based income from loans was $82,000.
Springfield First Community Bank's net income from loans was $14,579,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$3,095 |
| Provision for credit losses |
$445 |
| Total noninterest expense |
$15,997 |
| Salaries and employee benefits |
$10,145 |
| Premises and equipment expense |
$1,655 |
| Additional noninterest expense |
$4,197 |
| Applicable income taxes |
$4,148 |
| Net charge-offs |
$12 |
| Cash dividends |
$0 |
Springfield First Community Bank's interest expense for loans was $3,095,000.
Springfield First Community Bank's payroll and benefits expense were $10,145,000.
Springfield First Community Bank's property, plant and equipment expenses $1,655,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$590,163 |
| Deposits held in domestic offices |
$590,163 |
| Deposits by Individuals, partnerships, and corporations |
$504,414 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$52,680 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$33,069 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$335,651 |
| Demand deposits |
$133,032 |
| Nontransaction accounts |
$254,512 |
| Money market deposit accounts (MMDAs) |
$129,767 |
| Other savings deposits (excluding MMDAs) |
$12,450 |
| Total time deposits |
$112,295 |
| Total time and savings deposits |
$457,131 |
| Noninterest-bearing deposits |
$133,032 |
| Interest-bearing deposits |
$457,131 |
| Retail deposits |
$562,963 |
| IRAs and Keogh plan accounts |
$12,124 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$882,885 |
| Cash & Balances due from depository institutions |
$6,489 |
| Interest-bearing balances |
$2,618 |
| Total securities |
$81,848 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$715,933 |
| Loan and leases loss allowance |
$9,206 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$6,566 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$50,968 |
| All other assets |
$21,081 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$882,885 |
| Total Liabilities |
$739,988 |
| Total deposits |
$590,163 |
| Interest-bearing deposits |
$457,131 |
| Deposits held in domestic offices |
$590,163 |
| % insured (estimated) |
$49 |
| Federal funds purchased and repurchase agreements |
$140,755 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$0 |
| Subordinated debt |
$0 |
| All other liabilities |
$9,070 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$715,933 |
| Loan and leases loss allowance |
$9,206 |
| Total loans and leases (domestic) |
$725,139 |
| All real estate loans |
$578,936 |
| Real estate loans in domestic offices |
$578,936 |
| Construction and development loans |
$143,658 |
| Residential 1-4 family construction |
$8,002 |
| Other construction, all land development and other land |
$135,656 |
| Loans secured by nonfarm nonresidential properties |
$233,295 |
| Nonfarm nonresidential secured by owner-occupied properties |
$82,726 |
| Commercial real estate & other non-farm, non-residential |
$150,569 |
| Multifamily residential real estate |
$118,168 |
| 1-4 family residential loans |
$80,877 |
| Farmland loans |
$2,938 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$117,816 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$3,769 |
| Credit card loans |
$0 |
| Related Plans |
$551 |
| Consumer Auto Loans |
$1,111 |
| Other loans to individuals |
$2,107 |
| All other loans & leases |
$24,618 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$5,467 |
| 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 |
$365 |
| Non 1-4 family restructured loans & leases |
$365 |
| Total loans and leases (foreign) |
$0 |
Springfield First Community Bank had $715,933,000 of loans outstanding in 2021. $578,936,000 of loans were in real estate loans.
$143,658,000 of loans were in development loans. $118,168,000 of loans were in multifamily mortgage loans.
$80,877,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $1,111,000 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 |
145 |
$43,437 |
$299,566 |
| Nonfarm, nonresidential loans - <$100k |
20 |
$958 |
$47,900 |
| Nonfarm, nonresidential loans - $100-250k |
38 |
$5,475 |
$144,079 |
| Nonfarm, nonresidential loans - $250k-1MM |
87 |
$37,004 |
$425,333 |
| Commercial & Industrial, US addressed loans - <$1MM |
248 |
$31,822 |
$128,315 |
| Commercial & Industrial, US addressed loans - <$100k |
143 |
$5,232 |
$36,587 |
| Commercial & Industrial, US addressed loans - $100-250k |
39 |
$3,827 |
$98,128 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
66 |
$22,763 |
$344,894 |
| Farmland loans - <$1MM |
5 |
$915 |
$183,000 |
| Farmland loans - <$100k |
1 |
$56 |
$56,000 |
| Farmland loans - $100-250k |
2 |
$287 |
$143,500 |
| Farmland loans - $250k-1MM |
2 |
$572 |
$286,000 |
