Labette Bank Mortgage Rates, Fees & Info

Altamont, KS

LEI: 549300AR1PZJHZ7BYH72

Tax ID: 48-0301840

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

Review & Overview

Labette Bank is a smaller bank specializing in Home Purchase and Refi loans. Labette Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburg, Parsons, Kansas City, Fayetteville, and Tulsa among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Labette Bank has an 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

170

Origination Dollar Volume (All Markets)

$19,320,000

Employee count

113

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
Pittsburg, KS (FHA\|USDA\|VA)	51	$7,475,000	$146,569	$0	0.00%
Parsons, KS (FHA\|USDA\|VA)	59	$4,735,000	$80,254	$0	0.00%
Outside of Metro Areas	32	$3,130,000	$97,813	$0	0.00%
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	9	$1,045,000	$116,111	$0	0.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA\|USDA\|VA)	2	$950,000	$475,000	$0	0.00%
TULSA, OK (FHA\|USDA\|VA)	3	$815,000	$271,667	$0	0.00%
JOPLIN, MO (FHA\|USDA\|VA)	5	$435,000	$87,000	$0	0.00%
Coffeyville, KS (FHA\|USDA\|VA)	3	$255,000	$85,000	$0	0.00%
TOPEKA, KS (FHA\|USDA\|VA)	3	$175,000	$58,333	$0	0.00%
McPherson, KS (FHA\|USDA\|VA)	1	$155,000	$155,000	$0	0.00%
Bartlesville, OK (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	0.00%
Miami, OK (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	0.00%

Labette Bank's top markets include Pittsburg, Parsons, Kansas City, Fayetteville, and Tulsa among others.

Their top states include:

Kansas (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Oklahoma (FHA|USDA|VA)

Arkansas (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	170	$19,320,000	$113,647	$0	0.00%

For 2018, Labette Bank's most frequently originated type of loan was Conventional, with 170 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	106	$11,690,000	$110,283	$0	0.00%
Refi	43	$6,535,000	$151,977	$0	0.00%
Home Improvement	16	$860,000	$53,750	$0	0.00%
Other	5	$235,000	$47,000	$0	0.00%

For 2018, Labette Bank's most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Refi, with 43 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	170	$19,320,000	$113,647	$0	0.00%

For 2018, Labette Bank's most frequently cited loan duration was Other, with 170 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	109	$5,645,000	$51,789	$0	0.00%
$100k-200k	42	$5,670,000	$135,000	$0	0.00%
$200k-400k	14	$3,820,000	$272,857	$0	0.00%
$1MM+	2	$2,740,000	$1,370,000	$0	0.00%
$400k-600k	2	$840,000	$420,000	$0	0.00%
$600k-1MM	1	$605,000	$605,000	$0	0.00%

2018 saw Labette Bank place emphasis on $100,000 or less loans with 109 originations, totaling $5,645,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	47	$3,735,000	$79,468	$0	0.00%
$100k-150k	27	$2,835,000	$105,000	$0	0.00%
$50k or less	26	$1,540,000	$59,231	$0	0.00%
$75k-100k	26	$2,180,000	$83,846	$0	0.00%
$150k-250k	10	$1,590,000	$159,000	$0	0.00%
$250k+	4	$1,970,000	$492,500	$0	0.00%

Labette Bank lent most frequently to those with incomes in the $50k-75k range, with 47 originations. The second most popular income band? $100k-150k, with 27 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	170	$19,320,000	$113,647	$0	0.00%

Labette Bank lent most frequently to those with DTI ratios of Exempt%, with 170 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	142	$14,430,000	$101,620	$0	0.00%
Not applicable	26	$4,830,000	$185,769	$0	0.00%
American Indian	1	$45,000	$45,000	$0	0.00%
Black	1	$15,000	$15,000	$0	0.00%

Approval Rates

Total approvals of all applications
88.43%

Labette Bank has an average approval rate.

Pick Rate

Approvals leading to origination
87.65%

Labette Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	170	$19,320,000	$113,647

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$2,760,000	$690,000
Single Family (1-4 Units):Manufactured	13	$855,000	$65,769
Single Family (1-4 Units):Site-Built	153	$15,705,000	$102,647

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Labette Bank	101 East Maple Street Columbus, KS 66725	Full Service B&M	$30,158
Labette Bank	2121 Main Street Parsons, KS 67357	Full Service B&M	$74,890
Labette Bank	242 East Mckay Frontenac, KS 66763	Full Service B&M	$45,610
Labette Bank	2805 North Broadway Pittsburg, KS 66762	Full Service B&M	$0
Labette Bank	3129 Main Street Parsons, KS 67357	Full Service B&M	$0
Labette Bank	424 Commercial Street Oswego, KS 67356	Full Service B&M	$29,939
Labette Bank	501 Market Lacygne, KS 66040	Full Service B&M	$32,720
Labette Bank	801 South Broadway Street Pittsburg, KS 66762	Full Service B&M	$24,471
Labette Bank	911 Main Street Pleasanton, KS 66075	Full Service B&M	$31,237
Labette Bank	Fourth And Huston Altamont, KS 67330	Full Service B&M	$54,929
Labette Bank	K-7 And Us-160 Highways Cherokee, KS 66724	Full Service B&M	$26,369

For 2018, Labette Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,232
Net interest income	$14,343
Total noninterest income	$3,190
Gross Fiduciary activities income	$3
Service charges on deposit accounts	$876
Trading account gains and fees	$0
Additional Noninterest Income	$2,311
Pre-tax net operating income	$5,384
Securities gains (or losses, -)	$0
Income before extraordinary items	$4,544
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,544
Minority interest net income	$0
Net income	$4,544
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,544

Labette Bank's gross interest income from loans was $16,232,000.
Labette Bank's net interest income from loans was $14,343,000.
Labette Bank's fee based income from loans was $876,000.
Labette Bank's net income from loans was $4,544,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,889
Provision for credit losses	$150
Total noninterest expense	$11,999
Salaries and employee benefits	$7,058
Premises and equipment expense	$1,356
Additional noninterest expense	$3,585
Applicable income taxes	$840
Net charge-offs	$91
Cash dividends	$4,717

Labette Bank's interest expense for loans was $1,889,000.
Labette Bank's payroll and benefits expense were $7,058,000.
Labette Bank's property, plant and equipment expenses $1,356,000.

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	1.1%
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	$342,218
Deposits held in domestic offices	$342,218
Deposits by Individuals, partnerships, and corporations	$278,249
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$63,234
Deposits by Commercial banks and other depository institutions in U.S.	$736
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$133,332
Demand deposits	$76,084
Nontransaction accounts	$208,887
Money market deposit accounts (MMDAs)	$42,766
Other savings deposits (excluding MMDAs)	$56,232
Total time deposits	$109,888
Total time and savings deposits	$266,135
Noninterest-bearing deposits	$76,091
Interest-bearing deposits	$266,127
Retail deposits	$321,168
IRAs and Keogh plan accounts	$20,962
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$403,616
Cash & Balances due from depository institutions	$9,764
Interest-bearing balances	$4,639
Total securities	$91,589
Federal funds sold & reverse repurchase	$0
Net loans and leases	$280,346
Loan and leases loss allowance	$2,786
Trading account assets	$0
Bank premises and fixed assets	$6,679
Other real estate owned	$689
Goodwill and other intangibles	$1,179
All other assets	$13,370

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$403,616
Total Liabilities	$358,589
Total deposits	$342,218
Interest-bearing deposits	$266,127
Deposits held in domestic offices	$342,218
% insured (estimated)	$85
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$12,000
Subordinated debt	$0
All other liabilities	$4,371

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$280,346
Loan and leases loss allowance	$2,786
Total loans and leases (domestic)	$283,132
All real estate loans	$240,398
Real estate loans in domestic offices	$240,398
Construction and development loans	$2,604
Residential 1-4 family construction	$1,726
Other construction, all land development and other land	$878
Loans secured by nonfarm nonresidential properties	$54,015
Nonfarm nonresidential secured by owner-occupied properties	$30,434
Commercial real estate & other non-farm, non-residential	$23,581
Multifamily residential real estate	$1,083
1-4 family residential loans	$104,026
Farmland loans	$78,670
Loans held in foreign offices	$0
Farm loans	$12,975
Commercial and industrial loans	$11,826
To non-U.S. addressees	$0
Loans to individuals	$12,383
Credit card loans	$1,046
Related Plans	$0
Consumer Auto Loans	$5,198
Other loans to individuals	$6,139
All other loans & leases	$5,550
Loans to foreign governments and official institutions	$0
Other loans	$113
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	$1,938
Non 1-4 family restructured loans & leases	$1,844
Total loans and leases (foreign)	$0

Labette Bank had $280,346,000 of loans outstanding in 2018. $240,398,000 of loans were in real estate loans. $2,604,000 of loans were in development loans. $1,083,000 of loans were in multifamily mortgage loans. $104,026,000 of loans were in 1-4 family mortgage loans. $12,975,000 of loans were in farm loans. $1,046,000 of loans were in credit card loans. $5,198,000 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	191	$28,944	$151,539
Nonfarm, nonresidential loans - <$100k	94	$6,840	$72,766
Nonfarm, nonresidential loans - $100-250k	51	$6,030	$118,235
Nonfarm, nonresidential loans - $250k-1MM	46	$16,074	$349,435
Commercial & Industrial, US addressed loans - <$1MM	245	$9,749	$39,792
Commercial & Industrial, US addressed loans - <$100k	224	$5,547	$24,763
Commercial & Industrial, US addressed loans - $100-250k	18	$2,252	$125,111
Commercial & Industrial, US addressed loans - $250k-1MM	3	$1,950	$650,000
Farmland loans - <$1MM	388	$44,166	$113,830
Farmland loans - <$100k	202	$9,974	$49,376
Farmland loans - $100-250k	124	$14,786	$119,242
Farmland loans - $250k-1MM	62	$19,406	$313,000
Agriculture operations loans - <$1MM	449	$12,975	$28,898
Agriculture operations loans - <$100k	420	$8,221	$19,574
Agriculture operations loans - $100-250k	26	$3,659	$140,731
Agriculture operations loans - $250k-1MM	3	$1,095	$365,000