Springfield First Community Bank Mortgage Rates, Fees & Info

Springfield, MO

LEI: 5493007IES1RWVUDDU23

Tax ID: 26-3420981

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Mortgage Data

Bank Data

Review & 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 an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Springfield, Kansas City, Branson, Los Angeles, and Nashville among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Springfield First Community Bank has an above average approval rate when compared to the average across all lenders. They have a below 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.52% 3/28/24
30 Year Conventional Refi 6.49% 3/28/24
30 Year Cash-out Refi 6.56% 3/28/24
30 Year FHA Purchase 7.28% 3/28/24
30 Year FHA Refi 6.69% 3/28/24
30 Year VA Purchase 6.24% 3/28/24
30 Year VA Refi 6.27% 3/28/24
30 Year USDA Purchase 6.88% 3/28/24
15 Year Conventional Purchase 6.15% 3/28/24
15 Year Conventional Refi 5.95% 3/28/24
15 Year Cash-out Refi 5.95% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Springfield First Community Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Springfield First Community Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

392

Origination Dollar Volume (All Markets)

$112,480,000

Employee count

54

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
SPRINGFIELD, MO (FHA|USDA|VA) 351 $76,455,000 $217,821 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $28,635,000 $9,545,000 $0 0.00%
Outside of Metro Areas 20 $3,000,000 $150,000 $0 0.00%
Branson, MO (FHA|USDA|VA) 5 $1,005,000 $201,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $715,000 $715,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $640,000 $320,000 $0 0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
CORVALLIS, OR (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
JOPLIN, MO (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Springfield First Community Bank's top markets include Springfield, Kansas City, Branson, Los Angeles, and Nashville among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Springfield First Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Southwest Missouri Bank
    Similarity Rank: 176
    Community National Bank & Trust
    Similarity Rank: 442
    Pinnacle Bank
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    Guaranty Bank
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    Central Bank of The Ozarks
    Similarity Rank: 1680
    Capitol Federal Savings Bank
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    Associated Bank
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    Flanagan State Bank
    Similarity Rank: 2907

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 324 $100,430,000 $309,969 $0 0.00%
    FHA 37 $6,215,000 $167,973 $0 0.00%
    USDA 19 $2,545,000 $133,947 $0 0.00%
    VA 12 $3,290,000 $274,167 $0 0.00%

    For 2019, Springfield First Community Bank's most frequently originated type of loan was Conventional, with 324 originations. Their 2nd most popular type was FHA, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 271 $78,165,000 $288,432 $0 0.00%
    Refi 90 $27,930,000 $310,333 $0 0.00%
    Cash Out Refi 22 $4,790,000 $217,727 $0 0.00%
    Home Improvement 7 $1,145,000 $163,571 $0 0.00%
    Other 2 $450,000 $225,000 $0 0.00%

    For 2019, Springfield First Community Bank's most frequently cited loan purpose was Home Purchase, with 271 originations. The 2nd most popular reason was Refi, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 392 $112,480,000 $286,939 $0 0.00%

    For 2019, Springfield First Community Bank's most frequently cited loan duration was Other, with 392 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 182 $26,780,000 $147,143 $0 0.00%
    $200k-400k 104 $28,220,000 $271,346 $0 0.00%
    $100,000 or less 73 $5,255,000 $71,986 $0 0.00%
    $400k-600k 22 $9,840,000 $447,273 $0 0.00%
    $600k-1MM 8 $5,850,000 $731,250 $0 0.00%
    $1MM+ 3 $36,535,000 $12,178,333 $0 0.00%

    2019 saw Springfield First Community Bank place emphasis on $100k-200k loans with 182 originations, totaling $26,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 94 $11,870,000 $126,277 $0 0.00%
    $50k-75k 68 $9,990,000 $146,912 $0 0.00%
    $75k-100k 63 $12,325,000 $195,635 $0 0.00%
    $100k-150k 58 $14,530,000 $250,517 $0 0.00%
    $150k-250k 37 $9,125,000 $246,622 $0 0.00%
    $250k+ 26 $7,300,000 $280,769 $0 0.00%

    Springfield First Community Bank lent most frequently to those with incomes in the $50k or less range, with 94 originations. The second most popular income band? $50k-75k, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 392 $112,480,000 $286,939 $0 0.00%

    Springfield First Community Bank lent most frequently to those with DTI ratios of Exempt%, with 392 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 344 $64,820,000 $188,430 $0 0.00%
    Not applicable 33 $44,825,000 $1,358,333 $0 0.00%
    Black 6 $1,250,000 $208,333 $0 0.00%
    Not provided 6 $1,090,000 $181,667 $0 0.00%
    Asian Indian 1 $265,000 $265,000 $0 0.00%
    Asian 2 $230,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.99%

    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
    84.95%

    Springfield First Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 392 $112,480,000 $286,939

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $41,495,000 $3,772,273
    Single Family (1-4 Units):Site-Built 381 $70,985,000 $186,312

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Spring Equity LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    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 $471,340

    For 2019, Springfield First Community Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,826
    Net interest income $20,930
    Total noninterest income $3,744
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $86
    Trading account gains and fees $0
    Additional Noninterest Income $3,658
    Pre-tax net operating income $10,950
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,244
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,244
    Minority interest net income $0
    Net income $8,244
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,244

    Springfield First Community Bank's gross interest income from loans was $27,826,000.
    Springfield First Community Bank's net interest income from loans was $20,930,000.
    Springfield First Community Bank's fee based income from loans was $86,000.
    Springfield First Community Bank's net income from loans was $8,244,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,896
    Provision for credit losses $1,315
    Total noninterest expense $12,409
    Salaries and employee benefits $7,534
    Premises and equipment expense $868
    Additional noninterest expense $4,007
    Applicable income taxes $2,706
    Net charge-offs $50
    Cash dividends $0

    Springfield First Community Bank's interest expense for loans was $6,896,000.
    Springfield First Community Bank's payroll and benefits expense were $7,534,000.
    Springfield First Community Bank's property, plant and equipment expenses $868,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    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 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $531,497
    Deposits held in domestic offices $531,497
    Deposits by Individuals, partnerships, and corporations $470,265
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $25,612
    Deposits by Commercial banks and other depository institutions in U.S. $35,620
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $195,042
    Demand deposits $122,925
    Nontransaction accounts $336,455
    Money market deposit accounts (MMDAs) $180,175
    Other savings deposits (excluding MMDAs) $8,875
    Total time deposits $147,405
    Total time and savings deposits $408,572
    Noninterest-bearing deposits $122,925
    Interest-bearing deposits $408,572
    Retail deposits $465,194
    IRAs and Keogh plan accounts $9,606
    Brokered deposits $27,870
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $748,753
    Cash & Balances due from depository institutions $93,132
    Interest-bearing balances $88,587
    Total securities $34,499
    Federal funds sold & reverse repurchase $0
    Net loans and leases $544,051
    Loan and leases loss allowance $2,255
    Trading account assets $0
    Bank premises and fixed assets $5,838
    Other real estate owned $0
    Goodwill and other intangibles $52,777
    All other assets $18,456

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $748,753
    Total Liabilities $631,821
    Total deposits $531,497
    Interest-bearing deposits $408,572
    Deposits held in domestic offices $531,497
    % insured (estimated) $50
    Federal funds purchased and repurchase agreements $2,193
    Trading liabilities $0
    Other borrowed funds $90,000
    Subordinated debt $4,862
    All other liabilities $3,269

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $544,051
    Loan and leases loss allowance $2,255
    Total loans and leases (domestic) $546,306
    All real estate loans $420,662
    Real estate loans in domestic offices $420,662
    Construction and development loans $55,781
    Residential 1-4 family construction $5,185
    Other construction, all land development and other land $50,596
    Loans secured by nonfarm nonresidential properties $239,774
    Nonfarm nonresidential secured by owner-occupied properties $94,344
    Commercial real estate & other non-farm, non-residential $145,430
    Multifamily residential real estate $36,985
    1-4 family residential loans $83,516
    Farmland loans $4,606
    Loans held in foreign offices $0
    Farm loans $67
    Commercial and industrial loans $93,426
    To non-U.S. addressees $0
    Loans to individuals $4,165
    Credit card loans $0
    Related Plans $215
    Consumer Auto Loans $1,251
    Other loans to individuals $2,699
    All other loans & leases $27,986
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,660
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $397
    Non 1-4 family restructured loans & leases $397
    Total loans and leases (foreign) $0

    Springfield First Community Bank had $544,051,000 of loans outstanding in 2019. $420,662,000 of loans were in real estate loans. $55,781,000 of loans were in development loans. $36,985,000 of loans were in multifamily mortgage loans. $83,516,000 of loans were in 1-4 family mortgage loans. $67,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,251,000 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 183 $57,162 $312,361
    Nonfarm, nonresidential loans - <$100k 26 $1,332 $51,231
    Nonfarm, nonresidential loans - $100-250k 37 $5,041 $136,243
    Nonfarm, nonresidential loans - $250k-1MM 120 $50,789 $423,242
    Commercial & Industrial, US addressed loans - <$1MM 438 $43,164 $98,548
    Commercial & Industrial, US addressed loans - <$100k 261 $5,232 $20,046
    Commercial & Industrial, US addressed loans - $100-250k 78 $8,613 $110,423
    Commercial & Industrial, US addressed loans - $250k-1MM 99 $29,319 $296,152
    Farmland loans - <$1MM 12 $1,410 $117,500
    Farmland loans - <$100k 7 $309 $44,143
    Farmland loans - $100-250k 3 $569 $189,667
    Farmland loans - $250k-1MM 2 $532 $266,000
    Agriculture operations loans - <$1MM 1 $67 $67,000
    Agriculture operations loans - <$100k 1 $67 $67,000