Security Bank Mortgage Rates, Fees & Info

Tulsa, OK

LEI: 5493007KC6RR4UC6S050

Tax ID: 73-0394735

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Mortgage Data

Bank Data

Review & Overview

Security Bank is a smaller bank specializing in Home Purchase and Refi loans. Security Bank has a high proportion of conventional loans. Their top markets by origination volume include: Tulsa, Muskogee, Brownsville, Denver, and Oklahoma City among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Security 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.

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Originations

121

Origination Dollar Volume (All Markets)

$41,335,000

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
TULSA, OK (FHA|USDA|VA) 113 $38,015,000 $336,416 $0 0.00%
Muskogee, OK (FHA|USDA|VA) 2 $2,470,000 $1,235,000 $0 0.00%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 3 $405,000 $135,000 $0 0.00%
Outside of Metro Areas 1 $315,000 $315,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Security Bank's top markets include Tulsa, Muskogee, Brownsville, Denver, and Oklahoma City among others.

Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 121 $41,335,000 $341,612 $0 0.00%

    For 2019, Security Bank's most frequently originated type of loan was Conventional, with 121 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 78 $20,670,000 $265,000 $0 0.00%
    Refi 29 $19,585,000 $675,345 $0 0.00%
    Home Improvement 14 $1,080,000 $77,143 $0 0.00%

    For 2019, Security Bank's most frequently cited loan purpose was Home Purchase, with 78 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 121 $41,335,000 $341,612 $0 0.00%

    For 2019, Security Bank's most frequently cited loan duration was Other, with 121 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 52 $3,600,000 $69,231 $0 0.00%
    $100k-200k 36 $5,000,000 $138,889 $0 0.00%
    $200k-400k 18 $5,030,000 $279,444 $0 0.00%
    $400k-600k 7 $3,415,000 $487,857 $0 0.00%
    $1MM+ 6 $22,510,000 $3,751,667 $0 0.00%
    $600k-1MM 2 $1,780,000 $890,000 $0 0.00%

    2019 saw Security Bank place emphasis on $100,000 or less loans with 52 originations, totaling $3,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 7 $1,365,000 $195,000 $0 0.00%
    $100k-150k 6 $810,000 $135,000 $0 0.00%
    $250k+ 5 $1,195,000 $239,000 $0 0.00%
    $75k-100k 4 $310,000 $77,500 $0 0.00%
    $50k-75k 3 $295,000 $98,333 $0 0.00%
    $50k or less 3 $205,000 $68,333 $0 0.00%

    Security Bank lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 121 $41,335,000 $341,612 $0 0.00%

    Security Bank lent most frequently to those with DTI ratios of Exempt%, with 121 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 89 $36,785,000 $413,315 $0 0.00%
    White 24 $3,760,000 $156,667 $0 0.00%
    American Indian 4 $610,000 $152,500 $0 0.00%
    Black 3 $145,000 $48,333 $0 0.00%
    Not provided 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.66%

    Security 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
    96.69%

    Security Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 121 $41,335,000 $341,612

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $385,000 $385,000
    Multifamily:Site-Built 16 $20,360,000 $1,272,500
    Single Family (1-4 Units):Site-Built 104 $20,590,000 $197,981

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Security National Financial Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    Security National Financial Corp Other type of mortgage Trouble during payment process 1 33.3%
    Security National Financial Corp VA mortgage Closing on a mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Security Bank 10727 East 51st Street South Tulsa, OK 74146 Full Service B&M $504,707

    For 2019, Security Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,866
    Net interest income $21,719
    Total noninterest income $1,148
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $441
    Trading account gains and fees $0
    Additional Noninterest Income $707
    Pre-tax net operating income $11,109
    Securities gains (or losses, -) $0
    Income before extraordinary items $11,109
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,109
    Minority interest net income $0
    Net income $11,109
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,109

    Security Bank's gross interest income from loans was $30,866,000.
    Security Bank's net interest income from loans was $21,719,000.
    Security Bank's fee based income from loans was $441,000.
    Security Bank's net income from loans was $11,109,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,147
    Provision for credit losses $2,100
    Total noninterest expense $9,658
    Salaries and employee benefits $6,303
    Premises and equipment expense $719
    Additional noninterest expense $2,636
    Applicable income taxes $0
    Net charge-offs $3,067
    Cash dividends $11,550

    Security Bank's interest expense for loans was $9,147,000.
    Security Bank's payroll and benefits expense were $6,303,000.
    Security Bank's property, plant and equipment expenses $719,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 11.0%
    All other family 2.0%
    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 $514,745
    Deposits held in domestic offices $514,745
    Deposits by Individuals, partnerships, and corporations $445,301
    Deposits by U.S. Government $7
    Deposits by States and political subdivisions in the U.S. $60,925
    Deposits by Commercial banks and other depository institutions in U.S. $8,512
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $156,819
    Demand deposits $101,646
    Nontransaction accounts $357,926
    Money market deposit accounts (MMDAs) $112,955
    Other savings deposits (excluding MMDAs) $5,416
    Total time deposits $239,555
    Total time and savings deposits $413,099
    Noninterest-bearing deposits $82,625
    Interest-bearing deposits $432,120
    Retail deposits $397,076
    IRAs and Keogh plan accounts $21,602
    Brokered deposits $32,293
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $584,659
    Cash & Balances due from depository institutions $75,304
    Interest-bearing balances $66,946
    Total securities $20,937
    Federal funds sold & reverse repurchase $0
    Net loans and leases $479,545
    Loan and leases loss allowance $9,683
    Trading account assets $0
    Bank premises and fixed assets $4,565
    Other real estate owned $220
    Goodwill and other intangibles $0
    All other assets $4,088

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $584,659
    Total Liabilities $515,470
    Total deposits $514,745
    Interest-bearing deposits $432,120
    Deposits held in domestic offices $514,745
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $725

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $479,545
    Loan and leases loss allowance $9,683
    Total loans and leases (domestic) $489,228
    All real estate loans $318,423
    Real estate loans in domestic offices $318,423
    Construction and development loans $44,822
    Residential 1-4 family construction $7,251
    Other construction, all land development and other land $37,571
    Loans secured by nonfarm nonresidential properties $205,471
    Nonfarm nonresidential secured by owner-occupied properties $115,349
    Commercial real estate & other non-farm, non-residential $90,122
    Multifamily residential real estate $7,973
    1-4 family residential loans $55,099
    Farmland loans $5,058
    Loans held in foreign offices $0
    Farm loans $1,820
    Commercial and industrial loans $161,353
    To non-U.S. addressees $0
    Loans to individuals $6,149
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,941
    Other loans to individuals $3,208
    All other loans & leases $1,483
    Loans to foreign governments and official institutions $0
    Other loans $12
    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

    Security Bank had $479,545,000 of loans outstanding in 2019. $318,423,000 of loans were in real estate loans. $44,822,000 of loans were in development loans. $7,973,000 of loans were in multifamily mortgage loans. $55,099,000 of loans were in 1-4 family mortgage loans. $1,820,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,941,000 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 272 $71,526 $262,963
    Nonfarm, nonresidential loans - <$100k 39 $2,129 $54,590
    Nonfarm, nonresidential loans - $100-250k 86 $12,230 $142,209
    Nonfarm, nonresidential loans - $250k-1MM 147 $57,167 $388,891
    Commercial & Industrial, US addressed loans - <$1MM 967 $67,039 $69,327
    Commercial & Industrial, US addressed loans - <$100k 635 $12,564 $19,786
    Commercial & Industrial, US addressed loans - $100-250k 182 $18,139 $99,665
    Commercial & Industrial, US addressed loans - $250k-1MM 150 $36,336 $242,240
    Farmland loans - <$1MM 24 $2,349 $97,875
    Farmland loans - <$100k 14 $262 $18,714
    Farmland loans - $100-250k 6 $695 $115,833
    Farmland loans - $250k-1MM 4 $1,392 $348,000
    Agriculture operations loans - <$1MM 19 $1,820 $95,789
    Agriculture operations loans - <$100k 11 $465 $42,273
    Agriculture operations loans - $100-250k 7 $905 $129,286
    Agriculture operations loans - $250k-1MM 1 $450 $450,000