Kirkpatrick Bank Mortgage Rates, Fees & Info

Edmond, OK

LEI: 5493009EEWZ9S4F2BE94

Tax ID: 73-0789115

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Mortgage Data

Bank Data

Review & Overview

Kirkpatrick Bank is a smaller bank specializing in Home Purchase 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 by origination volume include: Oklahoma City, Colorado Springs, and Denver among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Kirkpatrick 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.

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Originations

233

Origination Dollar Volume (All Markets)

$77,375,000

Employee count

105

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
OKLAHOMA CITY, OK (FHA|USDA|VA) 143 $32,445,000 $226,888 $0 0.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 63 $25,585,000 $406,111 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 14 $15,020,000 $1,072,857 $0 0.00%
Outside of Metro Areas 13 $4,325,000 $332,692 $0 0.00%
Kirkpatrick Bank's top markets include Oklahoma City, Colorado Springs, and Denver among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 188 $61,170,000 $325,372 $0 0.00%
    VA 37 $14,925,000 $403,378 $0 0.00%
    FHA 8 $1,280,000 $160,000 $0 0.00%

    For 2019, Kirkpatrick Bank's most frequently originated type of loan was Conventional, with 188 originations. Their 2nd most popular type was VA, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 156 $57,920,000 $371,282 $0 0.00%
    Refi 50 $14,220,000 $284,400 $0 0.00%
    Home Improvement 14 $2,120,000 $151,429 $0 0.00%
    Cash Out Refi 9 $1,815,000 $201,667 $0 0.00%
    Other 4 $1,300,000 $325,000 $0 0.00%

    For 2019, Kirkpatrick Bank's most frequently cited loan purpose was Home Purchase, with 156 originations. The 2nd most popular reason was Refi, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 233 $77,375,000 $332,082 $0 0.00%

    For 2019, Kirkpatrick Bank's most frequently cited loan duration was Other, with 233 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 88 $25,330,000 $287,841 $0 0.00%
    $100k-200k 64 $9,690,000 $151,406 $0 0.00%
    $400k-600k 46 $20,840,000 $453,043 $0 0.00%
    $100,000 or less 26 $1,560,000 $60,000 $0 0.00%
    $1MM+ 5 $16,955,000 $3,391,000 $0 0.00%
    $600k-1MM 4 $3,000,000 $750,000 $0 0.00%

    2019 saw Kirkpatrick Bank place emphasis on $200k-400k loans with 88 originations, totaling $25,330,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $17,390,000 $322,037 $0 0.00%
    $150k-250k 34 $10,390,000 $305,588 $0 0.00%
    $50k-75k 34 $6,040,000 $177,647 $0 0.00%
    $75k-100k 24 $5,030,000 $209,583 $0 0.00%
    $250k+ 18 $6,910,000 $383,889 $0 0.00%
    $50k or less 14 $1,800,000 $128,571 $0 0.00%

    Kirkpatrick Bank lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $150k-250k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 233 $77,375,000 $332,082 $0 0.00%

    Kirkpatrick Bank lent most frequently to those with DTI ratios of Exempt%, with 233 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 166 $44,510,000 $268,133 $0 0.00%
    Not applicable 38 $23,600,000 $621,053 $0 0.00%
    Not provided 13 $4,955,000 $381,154 $0 0.00%
    Black 5 $1,545,000 $309,000 $0 0.00%
    American Indian 6 $1,440,000 $240,000 $0 0.00%
    Asian 3 $695,000 $231,667 $0 0.00%
    Korean 2 $630,000 $315,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.74%

    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
    88.84%

    Kirkpatrick Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 233 $77,375,000 $332,082

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $14,815,000 $2,963,000
    Single Family (1-4 Units):Manufactured 1 $135,000 $135,000
    Single Family (1-4 Units):Site-Built 227 $62,425,000 $275,000

    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 $169,397
    Kirkpatrick Bank 15 East 15th Street Edmond, OK 73013 Full Service Cyber Office $9,624
    Kirkpatrick Bank 15 East 15th Street Edmond, OK 73013 Full Service B&M $382,484
    Kirkpatrick Bank 1850 Platte Street, Suite 400 Denver, CO 80202 Full Service B&M $17,445
    Kirkpatrick Bank 222 N.W. 63 Oklahoma City, OK 73116 Full Service B&M $12,529
    Kirkpatrick Bank 2245 West Danforth Road Edmond, OK 73003 Full Service B&M $12,315
    Kirkpatrick Bank 3001 East Memorial Road Edmond, OK 73013 Full Service B&M $61,801

    For 2019, Kirkpatrick Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $36,163
    Net interest income $30,927
    Total noninterest income $2,561
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $394
    Trading account gains and fees $0
    Additional Noninterest Income $2,167
    Pre-tax net operating income $13,310
    Securities gains (or losses, -) $78
    Income before extraordinary items $13,388
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,388
    Minority interest net income $0
    Net income $13,388
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,310

    Kirkpatrick Bank's gross interest income from loans was $36,163,000.
    Kirkpatrick Bank's net interest income from loans was $30,927,000.
    Kirkpatrick Bank's fee based income from loans was $394,000.
    Kirkpatrick Bank's net income from loans was $13,388,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,236
    Provision for credit losses $1,644
    Total noninterest expense $18,534
    Salaries and employee benefits $10,704
    Premises and equipment expense $3,369
    Additional noninterest expense $4,461
    Applicable income taxes $0
    Net charge-offs $2,368
    Cash dividends $7,967

    Kirkpatrick Bank's interest expense for loans was $5,236,000.
    Kirkpatrick Bank's payroll and benefits expense were $10,704,000.
    Kirkpatrick Bank's property, plant and equipment expenses $3,369,000.

    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 2.0%
    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 $674,630
    Deposits held in domestic offices $674,630
    Deposits by Individuals, partnerships, and corporations $586,462
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $87,722
    Deposits by Commercial banks and other depository institutions in U.S. $446
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $335,655
    Demand deposits $223,328
    Nontransaction accounts $338,975
    Money market deposit accounts (MMDAs) $245,842
    Other savings deposits (excluding MMDAs) $28,574
    Total time deposits $64,559
    Total time and savings deposits $451,302
    Noninterest-bearing deposits $209,740
    Interest-bearing deposits $464,890
    Retail deposits $647,861
    IRAs and Keogh plan accounts $6,064
    Brokered deposits $2
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $818,584
    Cash & Balances due from depository institutions $102,244
    Interest-bearing balances $93,104
    Total securities $126,160
    Federal funds sold & reverse repurchase $1,496
    Net loans and leases $574,720
    Loan and leases loss allowance $10,658
    Trading account assets $0
    Bank premises and fixed assets $6,577
    Other real estate owned $304
    Goodwill and other intangibles $325
    All other assets $6,758

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $818,584
    Total Liabilities $725,607
    Total deposits $674,630
    Interest-bearing deposits $464,890
    Deposits held in domestic offices $674,630
    % insured (estimated) $60
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $45,751
    Subordinated debt $0
    All other liabilities $5,226

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $574,720
    Loan and leases loss allowance $10,658
    Total loans and leases (domestic) $585,378
    All real estate loans $504,984
    Real estate loans in domestic offices $504,984
    Construction and development loans $148,445
    Residential 1-4 family construction $77,948
    Other construction, all land development and other land $70,497
    Loans secured by nonfarm nonresidential properties $277,631
    Nonfarm nonresidential secured by owner-occupied properties $95,656
    Commercial real estate & other non-farm, non-residential $181,975
    Multifamily residential real estate $20,193
    1-4 family residential loans $58,259
    Farmland loans $456
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $58,094
    To non-U.S. addressees $0
    Loans to individuals $8,241
    Credit card loans $14
    Related Plans $3,023
    Consumer Auto Loans $646
    Other loans to individuals $4,558
    All other loans & leases $14,059
    Loans to foreign governments and official institutions $0
    Other loans $1,919
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,357
    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

    Kirkpatrick Bank had $574,720,000 of loans outstanding in 2019. $504,984,000 of loans were in real estate loans. $148,445,000 of loans were in development loans. $20,193,000 of loans were in multifamily mortgage loans. $58,259,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $14,000 of loans were in credit card loans. $646,000 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 151 $61,480 $407,152
    Nonfarm, nonresidential loans - <$100k 14 $436 $31,143
    Nonfarm, nonresidential loans - $100-250k 39 $6,230 $159,744
    Nonfarm, nonresidential loans - $250k-1MM 98 $54,814 $559,327
    Commercial & Industrial, US addressed loans - <$1MM 223 $16,429 $73,673
    Commercial & Industrial, US addressed loans - <$100k 118 $1,904 $16,136
    Commercial & Industrial, US addressed loans - $100-250k 46 $2,937 $63,848
    Commercial & Industrial, US addressed loans - $250k-1MM 59 $11,588 $196,407
    Farmland loans - <$1MM 5 $456 $91,200
    Farmland loans - <$100k 3 $112 $37,333
    Farmland loans - $250k-1MM 2 $344 $172,000