Springfield First Community Bank Mortgage Rates, Fees & Info

Springfield, MO

LEI: 5493007IES1RWVUDDU23

Tax ID: 26-3420981

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    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 by origination volume include: Springfield, Wichita, Little Rock, Joplin, and Branson among others. We have data for 35 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. Springfield First Community Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.52% 11/21/24
    30 Year Conventional Refi 6.49% 11/21/24
    30 Year Cash-out Refi 6.56% 11/21/24
    30 Year FHA Purchase 7.28% 11/21/24
    30 Year FHA Refi 6.69% 11/21/24
    30 Year VA Purchase 6.24% 11/21/24
    30 Year VA Refi 6.27% 11/21/24
    30 Year USDA Purchase 6.88% 11/21/24
    15 Year Conventional Purchase 6.15% 11/21/24
    15 Year Conventional Refi 5.95% 11/21/24
    15 Year Cash-out Refi 5.95% 11/21/24
    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

    627

    Origination Dollar Volume (All Markets)

    $226,345,000

    Employee count

    66 Show all (8) awards

    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) 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.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Texas (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: 322
    Sullivan Bank
    Similarity Rank: 588
    Pinnacle Bank
    Similarity Rank: 680
    FIRST STATE MORTGAGE SERVICES, LLC
    Similarity Rank: 987
    The Bank of Missouri
    Similarity Rank: 1196
    Hawthorn Bank
    Similarity Rank: 1280
    First State Community Bank
    Similarity Rank: 1484
    MISSOURI ELECTRIC COOPERATIVES EMPL
    Similarity Rank: 1534
    First Community Bank
    Similarity Rank: 1692
    Springfield First Community Bank
    Similarity Rank: 1750

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Springfield First Community Bank's most frequently originated type of loan was Conventional, with 586 originations. Their 2nd most popular type was FHA, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Springfield First Community Bank's most frequently cited loan purpose was Home Purchase, with 324 originations. The 2nd most popular reason was 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 2021, Springfield First Community Bank's most frequently cited loan duration was 30 Year, with 410 originations. The 2nd most popular length was 15 Year, with 108 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 487 $110,705,000 $227,320
    $1k-2k 18 $4,500,000 $250,000
    $2k-3k 3 $1,395,000 $465,000
    $3k-4k 3 $945,000 $315,000
    $4k-5k 1 $185,000 $185,000
    $5k+ 1 $135,000 $135,000

    Springfield First Community Bank's average total fees were $2,703, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.88%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    97.39%

    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
    87.88%

    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

    Item Value (in 000's)
    Total interest income $29,446
    Net interest income $26,351
    Total noninterest income $8,818
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $82
    Trading account gains and fees $0
    Additional Noninterest Income $8,736
    Pre-tax net operating income $18,727
    Securities gains (or losses, -) $0
    Income before extraordinary items $14,579
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,579
    Minority interest net income $0
    Net income $14,579
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,579

    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.

    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 $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