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, Grand Island, Stillwater, and Orlando among others. We have data for 5 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

90

Origination Dollar Volume (All Markets)

$19,750,000

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) 84 $18,850,000 $224,405 $0 0.00%
Outside of Metro Areas 3 $375,000 $125,000 $0 0.00%
GRAND ISLAND, NE (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
Stillwater, OK (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Security Bank's top markets include Tulsa, Grand Island, Stillwater, and Orlando among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 90 $19,750,000 $219,444 $0 0.00%

    For 2020, Security Bank's most frequently originated type of loan was Conventional, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 61 $11,425,000 $187,295 $0 0.00%
    Refi 20 $7,600,000 $380,000 $0 0.00%
    Home Improvement 9 $725,000 $80,556 $0 0.00%

    For 2020, Security Bank's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 90 $19,750,000 $219,444 $0 0.00%

    For 2020, Security Bank's most frequently cited loan duration was Other, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 38 $2,250,000 $59,211 $0 0.00%
    $100k-200k 29 $4,035,000 $139,138 $0 0.00%
    $200k-400k 15 $4,015,000 $267,667 $0 0.00%
    $1MM+ 3 $6,315,000 $2,105,000 $0 0.00%
    $400k-600k 3 $1,555,000 $518,333 $0 0.00%
    $600k-1MM 2 $1,580,000 $790,000 $0 0.00%

    2020 saw Security Bank place emphasis on $100,000 or less loans with 38 originations, totaling $2,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 8 $1,690,000 $211,250 $0 0.00%
    $100k-150k 7 $1,415,000 $202,143 $0 0.00%
    $250k+ 5 $835,000 $167,000 $0 0.00%
    $50k or less 4 $90,000 $22,500 $0 0.00%
    $75k-100k 3 $465,000 $155,000 $0 0.00%
    $50k-75k 2 $50,000 $25,000 $0 0.00%

    Security Bank lent most frequently to those with incomes in the $150k-250k range, with 8 originations. The second most popular income band? $100k-150k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 90 $19,750,000 $219,444 $0 0.00%

    Security Bank lent most frequently to those with DTI ratios of Exempt%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 61 $15,205,000 $249,262 $0 0.00%
    White 26 $4,380,000 $168,462 $0 0.00%
    Black 2 $140,000 $70,000 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.88%

    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
    96.67%

    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 90 $19,750,000 $219,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $185,000 $185,000
    Multifamily:Site-Built 9 $9,185,000 $1,020,556
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 79 $10,345,000 $130,949

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Security National Financial Corp Conventional home mortgage Closing on a mortgage 2 33.3%
    Security National Financial Corp Conventional home mortgage Trouble during payment process 4 66.7%

    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 $636,346

    For 2020, Security Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,599
    Net interest income $22,955
    Total noninterest income $968
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $343
    Trading account gains and fees $0
    Additional Noninterest Income $625
    Pre-tax net operating income $11,554
    Securities gains (or losses, -) $0
    Income before extraordinary items $11,554
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,554
    Minority interest net income $0
    Net income $11,554
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,554

    Security Bank's gross interest income from loans was $29,599,000.
    Security Bank's net interest income from loans was $22,955,000.
    Security Bank's fee based income from loans was $343,000.
    Security Bank's net income from loans was $11,554,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,644
    Provision for credit losses $2,450
    Total noninterest expense $9,919
    Salaries and employee benefits $6,417
    Premises and equipment expense $711
    Additional noninterest expense $2,791
    Applicable income taxes $0
    Net charge-offs $1,308
    Cash dividends $7,900

    Security Bank's interest expense for loans was $6,644,000.
    Security Bank's payroll and benefits expense were $6,417,000.
    Security Bank's property, plant and equipment expenses $711,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $596,307
    Deposits held in domestic offices $596,307
    Deposits by Individuals, partnerships, and corporations $537,916
    Deposits by U.S. Government $4
    Deposits by States and political subdivisions in the U.S. $52,889
    Deposits by Commercial banks and other depository institutions in U.S. $5,498
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $225,386
    Demand deposits $153,716
    Nontransaction accounts $370,921
    Money market deposit accounts (MMDAs) $141,372
    Other savings deposits (excluding MMDAs) $7,585
    Total time deposits $221,964
    Total time and savings deposits $442,591
    Noninterest-bearing deposits $133,247
    Interest-bearing deposits $463,060
    Retail deposits $499,410
    IRAs and Keogh plan accounts $22,155
    Brokered deposits $13,166
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $669,959
    Cash & Balances due from depository institutions $83,725
    Interest-bearing balances $75,842
    Total securities $19,071
    Federal funds sold & reverse repurchase $0
    Net loans and leases $557,508
    Loan and leases loss allowance $10,825
    Trading account assets $0
    Bank premises and fixed assets $4,283
    Other real estate owned $60
    Goodwill and other intangibles $0
    All other assets $5,312

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $669,959
    Total Liabilities $596,721
    Total deposits $596,307
    Interest-bearing deposits $463,060
    Deposits held in domestic offices $596,307
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $414

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $557,508
    Loan and leases loss allowance $10,825
    Total loans and leases (domestic) $568,333
    All real estate loans $330,895
    Real estate loans in domestic offices $330,895
    Construction and development loans $36,213
    Residential 1-4 family construction $6,510
    Other construction, all land development and other land $29,703
    Loans secured by nonfarm nonresidential properties $236,901
    Nonfarm nonresidential secured by owner-occupied properties $117,369
    Commercial real estate & other non-farm, non-residential $119,532
    Multifamily residential real estate $4,450
    1-4 family residential loans $49,102
    Farmland loans $4,229
    Loans held in foreign offices $0
    Farm loans $2,745
    Commercial and industrial loans $228,742
    To non-U.S. addressees $0
    Loans to individuals $4,561
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,455
    Other loans to individuals $2,106
    All other loans & leases $1,390
    Loans to foreign governments and official institutions $0
    Other loans $58
    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 $557,508,000 of loans outstanding in 2020. $330,895,000 of loans were in real estate loans. $36,213,000 of loans were in development loans. $4,450,000 of loans were in multifamily mortgage loans. $49,102,000 of loans were in 1-4 family mortgage loans. $2,745,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,455,000 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 283 $78,036 $275,746
    Nonfarm, nonresidential loans - <$100k 32 $1,598 $49,938
    Nonfarm, nonresidential loans - $100-250k 87 $11,873 $136,471
    Nonfarm, nonresidential loans - $250k-1MM 164 $64,565 $393,689
    Commercial & Industrial, US addressed loans - <$1MM 1,418 $116,673 $82,280
    Commercial & Industrial, US addressed loans - <$100k 947 $23,497 $24,812
    Commercial & Industrial, US addressed loans - $100-250k 267 $30,893 $115,704
    Commercial & Industrial, US addressed loans - $250k-1MM 204 $62,283 $305,309
    Farmland loans - <$1MM 22 $1,999 $90,864
    Farmland loans - <$100k 12 $226 $18,833
    Farmland loans - $100-250k 7 $795 $113,571
    Farmland loans - $250k-1MM 3 $978 $326,000
    Agriculture operations loans - <$1MM 22 $2,046 $93,000
    Agriculture operations loans - <$100k 13 $564 $43,385
    Agriculture operations loans - $100-250k 8 $1,082 $135,250
    Agriculture operations loans - $250k-1MM 1 $400 $400,000