Kirkpatrick Bank Mortgage Rates, Fees & Info

Edmond, OK

LEI: 5493009EEWZ9S4F2BE94

Tax ID: 73-0789115

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Kirkpatrick Bank is a smaller bank specializing in Home Purchase and Refi loans. Kirkpatrick 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.) Their top markets include Oklahoma City, Colorado Springs, and Denver among others. Kirkpatrick 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.


Originations

357

Origination Dollar Volume (All Markets)

$110,875,000

Employee count

108

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
OKLAHOMA CITY, OK (FHA|USDA|VA) 206 $58,270,000 $282,864 $0 0.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 67 $28,705,000 $428,433 $0 0.00%
Outside of Metro Areas 73 $20,645,000 $282,808 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 11 $3,255,000 $295,909 $0 0.00%

Kirkpatrick Bank's top markets include Oklahoma City, Colorado Springs, and Denver among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 329 $101,955,000 $309,894 $0 0.00%
VA 22 $7,880,000 $358,182 $0 0.00%
FHA 6 $1,040,000 $173,333 $0 0.00%

For the 2021 period, Kirkpatrick Bank's most frequently originated loan type of loans were Conventional, with 329 originations. Their 2nd most popular type is VA, with 22 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 171 $57,045,000 $333,596 $0 0.00%
Refi 121 $33,665,000 $278,223 $0 0.00%
Cash Out Refi 55 $17,845,000 $324,455 $0 0.00%
Other 6 $1,410,000 $235,000 $0 0.00%
Home Improvement 4 $910,000 $227,500 $0 0.00%

For the 2021, Kirkpatrick Bank's most frequently cited loan purpose of loans were Home Purchase, with 171 originations. The 2nd most popular reason of loans were Refi, with 121 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 357 $110,875,000 $310,574 $0 0.00%

For the 2021, Kirkpatrick Bank's most frequently cited loan length of loans were Other, with 357 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 151 $43,345,000 $287,053 $0 0.00%
$100k-200k 100 $15,180,000 $151,800 $0 0.00%
$400k-600k 77 $37,355,000 $485,130 $0 0.00%
$100,000 or less 16 $960,000 $60,000 $0 0.00%
$600k-1MM 9 $6,735,000 $748,333 $0 0.00%
$1MM+ 4 $7,300,000 $1,825,000 $0 0.00%

2021 saw Kirkpatrick Bank place emphasis on $200k-400k loans with 151 originations, totaling $43,345,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 82 $25,620,000 $312,439 $0 0.00%
$150k-250k 64 $22,870,000 $357,344 $0 0.00%
$50k-75k 53 $11,735,000 $221,415 $0 0.00%
$75k-100k 45 $12,745,000 $283,222 $0 0.00%
$250k+ 36 $17,950,000 $498,611 $0 0.00%
$50k or less 35 $4,975,000 $142,143 $0 0.00%

Kirkpatrick Bank lent most frequently to those with incomes in the $100k-150k range, with 82 originations. The second most popular income band? $150k-250k, with 64 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 357 $110,875,000 $310,574 $0 0.00%

Kirkpatrick Bank lent most frequently to those with DTI ratios of Exempt%, with 357 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 287 $85,115,000 $296,568 $0 0.00%
Not applicable 20 $9,070,000 $453,500 $0 0.00%
Not provided 22 $7,530,000 $342,273 $0 0.00%
American Indian 13 $3,705,000 $285,000 $0 0.00%
Black 7 $3,075,000 $439,286 $0 0.00%
Asian 4 $1,440,000 $360,000 $0 0.00%
Asian Indian 1 $325,000 $325,000 $0 0.00%
Korean 1 $255,000 $255,000 $0 0.00%
Other Asian 1 $235,000 $235,000 $0 0.00%
Native Hawaiian 1 $125,000 $125,000 $0 0.00%

Approval Rates

Total approvals of all applications
96.81%

Kirkpatrick 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
87.16%

Kirkpatrick Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 357 $110,875,000 $310,574

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
357 $110,875,000 $310,574

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Kirkpatrick Bank 102 North Cascade Avenue, Suite 100 Colorado Springs, CO 80903 Full Service B&M $331,414
Kirkpatrick Bank 15 East 15th Street Edmond, OK 73013 Full Service Cyber Office $8,405
Kirkpatrick Bank 15 East 15th Street Edmond, OK 73013 Full Service B&M $487,487
Kirkpatrick Bank 1850 Platte Street, Suite 400 Denver, CO 80202 Full Service B&M $34,828
Kirkpatrick Bank 222 N.W. 63 Oklahoma City, OK 73116 Full Service B&M $15,172
Kirkpatrick Bank 2245 West Danforth Road Edmond, OK 73003 Full Service B&M $15,682
Kirkpatrick Bank 8 Bassick Place Westcliffe, CO 81252 Full Service B&M $26,005

For 2021, Kirkpatrick Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $31,068
Net interest income $28,820
Total noninterest income $3,384
Gross Fiduciary activities income $0
Service charges on deposit accounts $300
Trading account gains and fees $0
Additional Noninterest Income $3,084
Pre-tax net operating income $12,361
Securities gains (or losses, -) $55
Income before extraordinary items $12,416
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $12,416
Minority interest net income $0
Net income $12,416
Sale, conversion, retirement of capital stock, net $0
Net operating income $12,361

Kirkpatrick Bank's gross interest income from loans was $31,068,000.
Kirkpatrick Bank's net interest income from loans was $28,820,000.
Kirkpatrick Bank's fee based income from loans was $300,000.
Kirkpatrick Bank's net income from loans was $12,416,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,248
Provision for credit losses $239
Total noninterest expense $19,604
Salaries and employee benefits $11,498
Premises and equipment expense $3,258
Additional noninterest expense $4,848
Applicable income taxes $0
Net charge-offs $-78
Cash dividends $7,575

Kirkpatrick Bank's interest expense for loans was $2,248,000.
Kirkpatrick Bank's payroll and benefits expense were $11,498,000.
Kirkpatrick Bank's property, plant and equipment expenses $3,258,000.

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 $1,045,750
Deposits held in domestic offices $1,045,750
Deposits by Individuals, partnerships, and corporations $856,563
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $189,187
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $541,932
Demand deposits $308,217
Nontransaction accounts $503,818
Money market deposit accounts (MMDAs) $361,761
Other savings deposits (excluding MMDAs) $46,909
Total time deposits $95,148
Total time and savings deposits $737,533
Noninterest-bearing deposits $300,072
Interest-bearing deposits $745,678
Retail deposits $983,170
IRAs and Keogh plan accounts $5,817
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,174,994
Cash & Balances due from depository institutions $125,224
Interest-bearing balances $121,113
Total securities $439,176
Federal funds sold & reverse repurchase $1,876
Net loans and leases $594,308
Loan and leases loss allowance $12,739
Trading account assets $0
Bank premises and fixed assets $5,796
Other real estate owned $0
Goodwill and other intangibles $325
All other assets $8,289

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,174,994
Total Liabilities $1,075,734
Total deposits $1,045,750
Interest-bearing deposits $745,678
Deposits held in domestic offices $1,045,750
% insured (estimated) $44
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $23,300
Subordinated debt $0
All other liabilities $6,684

Issued Loan Types

Type Value (in 000's)
Net loans and leases $594,308
Loan and leases loss allowance $12,739
Total loans and leases (domestic) $607,047
All real estate loans $518,534
Real estate loans in domestic offices $518,534
Construction and development loans $130,483
Residential 1-4 family construction $84,104
Other construction, all land development and other land $46,379
Loans secured by nonfarm nonresidential properties $293,919
Nonfarm nonresidential secured by owner-occupied properties $94,837
Commercial real estate & other non-farm, non-residential $199,082
Multifamily residential real estate $21,495
1-4 family residential loans $71,674
Farmland loans $963
Loans held in foreign offices $0
Farm loans $483
Commercial and industrial loans $72,509
To non-U.S. addressees $0
Loans to individuals $5,429
Credit card loans $8
Related Plans $1,068
Consumer Auto Loans $1,004
Other loans to individuals $3,349
All other loans & leases $10,092
Loans to foreign governments and official institutions $0
Other loans $207
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $1,615
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $797
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Kirkpatrick Bank had $594,308,000 of loans outstanding in 2021. $518,534,000 of loans were in real estate loans. $130,483,000 of loans were in development loans. $21,495,000 of loans were in multifamily mortgage loans. $71,674,000 of loans were in 1-4 family mortgage loans. $483,000 of loans were in farm loans. $8,000 of loans were in credit card loans. $1,004,000 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 133 $48,670 $365,940
Nonfarm, nonresidential loans - <$100k 15 $698 $46,533
Nonfarm, nonresidential loans - $100-250k 32 $5,352 $167,250
Nonfarm, nonresidential loans - $250k-1MM 86 $42,620 $495,581
Commercial & Industrial, US addressed loans - <$1MM 214 $30,782 $143,841
Commercial & Industrial, US addressed loans - <$100k 136 $3,575 $26,287
Commercial & Industrial, US addressed loans - $100-250k 37 $6,764 $182,811
Commercial & Industrial, US addressed loans - $250k-1MM 41 $20,443 $498,610
Farmland loans - <$1MM 2 $363 $181,500
Farmland loans - <$100k 1 $67 $67,000
Farmland loans - $250k-1MM 1 $296 $296,000
Agriculture operations loans - <$1MM 10 $483 $48,300
Agriculture operations loans - <$100k 8 $218 $27,250
Agriculture operations loans - $100-250k 2 $265 $132,500