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: Parsons, Pittsburg, Kansas City, Joplin, and Branson among others. We have data for 9 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

150

Origination Dollar Volume (All Markets)

$16,530,000

Employee count

106

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
Parsons, KS (FHA\|USDA\|VA)	62	$5,910,000	$95,323	$0	0.00%
Pittsburg, KS (FHA\|USDA\|VA)	37	$5,015,000	$135,541	$0	0.00%
Outside of Metro Areas	27	$2,495,000	$92,407	$0	0.00%
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	11	$1,375,000	$125,000	$0	0.00%
JOPLIN, MO (FHA\|USDA\|VA)	4	$470,000	$117,500	$0	0.00%
Branson, MO (FHA\|USDA\|VA)	1	$455,000	$455,000	$0	0.00%
Coffeyville, KS (FHA\|USDA\|VA)	4	$430,000	$107,500	$0	0.00%
Salina, KS (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%
TOPEKA, KS (FHA\|USDA\|VA)	3	$165,000	$55,000	$0	0.00%

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

Their top states include:

Kansas (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Oklahoma (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	150	$16,530,000	$110,200	$0	0.00%

For 2019, Labette Bank's most frequently originated type of loan was Conventional, with 150 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	84	$10,060,000	$119,762	$0	0.00%
Refi	50	$5,710,000	$114,200	$0	0.00%
Home Improvement	8	$380,000	$47,500	$0	0.00%
Other	8	$380,000	$47,500	$0	0.00%

For 2019, Labette Bank's most frequently cited loan purpose was Home Purchase, with 84 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	150	$16,530,000	$110,200	$0	0.00%

For 2019, Labette Bank's most frequently cited loan duration was Other, with 150 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	101	$5,365,000	$53,119	$0	0.00%
$100k-200k	28	$3,940,000	$140,714	$0	0.00%
$200k-400k	18	$4,980,000	$276,667	$0	0.00%
$600k-1MM	2	$1,790,000	$895,000	$0	0.00%
$400k-600k	1	$455,000	$455,000	$0	0.00%

2019 saw Labette Bank place emphasis on $100,000 or less loans with 101 originations, totaling $5,365,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	35	$2,405,000	$68,714	$0	0.00%
$100k-150k	28	$4,160,000	$148,571	$0	0.00%
$50k-75k	27	$2,145,000	$79,444	$0	0.00%
$75k-100k	19	$2,405,000	$126,579	$0	0.00%
$150k-250k	12	$2,990,000	$249,167	$0	0.00%
$250k+	2	$110,000	$55,000	$0	0.00%

Labette Bank lent most frequently to those with incomes in the $50k or less range, with 35 originations. The second most popular income band? $100k-150k, with 28 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	150	$16,530,000	$110,200	$0	0.00%

Labette Bank lent most frequently to those with DTI ratios of Exempt%, with 150 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	122	$14,230,000	$116,639	$0	0.00%
Not applicable	24	$1,880,000	$78,333	$0	0.00%
Black	1	$215,000	$215,000	$0	0.00%
American Indian	3	$205,000	$68,333	$0	0.00%

Approval Rates

Total approvals of all applications
86.57%

Labette Bank has an average approval rate.

Pick Rate

Approvals leading to origination
84.00%

Labette Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	150	$16,530,000	$110,200

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	5	$2,695,000	$539,000
Single Family (1-4 Units):Manufactured	13	$1,035,000	$79,615
Single Family (1-4 Units):Site-Built	132	$12,800,000	$96,970

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Labette Bank	101 East Maple Street Columbus, KS 66725	Full Service B&M	$29,155
Labette Bank	2121 Main Street Parsons, KS 67357	Full Service B&M	$65,824
Labette Bank	242 East Mckay Frontenac, KS 66763	Full Service B&M	$39,090
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	$28,725
Labette Bank	501 Market Lacygne, KS 66040	Full Service B&M	$33,048
Labette Bank	801 South Broadway Street Pittsburg, KS 66762	Full Service B&M	$26,392
Labette Bank	911 Main Street Pleasanton, KS 66075	Full Service B&M	$31,689
Labette Bank	Fourth And Huston Altamont, KS 67330	Full Service B&M	$51,636
Labette Bank	K-7 And Us-160 Highways Cherokee, KS 66724	Full Service B&M	$26,010

For 2019, Labette Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$17,044
Net interest income	$14,580
Total noninterest income	$2,999
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$802
Trading account gains and fees	$0
Additional Noninterest Income	$2,197
Pre-tax net operating income	$5,116
Securities gains (or losses, -)	$-1
Income before extraordinary items	$4,311
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,311
Minority interest net income	$0
Net income	$4,311
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,311

Labette Bank's gross interest income from loans was $17,044,000.
Labette Bank's net interest income from loans was $14,580,000.
Labette Bank's fee based income from loans was $802,000.
Labette Bank's net income from loans was $4,311,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,464
Provision for credit losses	$200
Total noninterest expense	$12,263
Salaries and employee benefits	$7,201
Premises and equipment expense	$1,380
Additional noninterest expense	$3,682
Applicable income taxes	$804
Net charge-offs	$10
Cash dividends	$250

Labette Bank's interest expense for loans was $2,464,000.
Labette Bank's payroll and benefits expense were $7,201,000.
Labette Bank's property, plant and equipment expenses $1,380,000.

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	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	0.0%
Credit card loans	0.1%
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	$332,957
Deposits held in domestic offices	$332,957
Deposits by Individuals, partnerships, and corporations	$269,484
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$62,982
Deposits by Commercial banks and other depository institutions in U.S.	$490
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$132,412
Demand deposits	$75,688
Nontransaction accounts	$200,544
Money market deposit accounts (MMDAs)	$40,079
Other savings deposits (excluding MMDAs)	$57,600
Total time deposits	$102,865
Total time and savings deposits	$257,268
Noninterest-bearing deposits	$74,407
Interest-bearing deposits	$258,550
Retail deposits	$313,051
IRAs and Keogh plan accounts	$20,431
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$399,161
Cash & Balances due from depository institutions	$19,934
Interest-bearing balances	$14,808
Total securities	$73,871
Federal funds sold & reverse repurchase	$0
Net loans and leases	$284,199
Loan and leases loss allowance	$2,976
Trading account assets	$0
Bank premises and fixed assets	$6,634
Other real estate owned	$176
Goodwill and other intangibles	$1,182
All other assets	$13,165

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$399,160
Total Liabilities	$349,260
Total deposits	$332,957
Interest-bearing deposits	$258,550
Deposits held in domestic offices	$332,957
% insured (estimated)	$86
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$11,900
Subordinated debt	$0
All other liabilities	$4,403

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$284,199
Loan and leases loss allowance	$2,976
Total loans and leases (domestic)	$287,175
All real estate loans	$249,489
Real estate loans in domestic offices	$249,489
Construction and development loans	$2,579
Residential 1-4 family construction	$2,579
Other construction, all land development and other land	$0
Loans secured by nonfarm nonresidential properties	$60,534
Nonfarm nonresidential secured by owner-occupied properties	$31,882
Commercial real estate & other non-farm, non-residential	$28,652
Multifamily residential real estate	$330
1-4 family residential loans	$103,542
Farmland loans	$82,504
Loans held in foreign offices	$0
Farm loans	$12,442
Commercial and industrial loans	$10,007
To non-U.S. addressees	$0
Loans to individuals	$10,946
Credit card loans	$993
Related Plans	$0
Consumer Auto Loans	$4,487
Other loans to individuals	$5,466
All other loans & leases	$4,292
Loans to foreign governments and official institutions	$0
Other loans	$280
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	$220
Non 1-4 family restructured loans & leases	$129
Total loans and leases (foreign)	$0

Labette Bank had $284,199,000 of loans outstanding in 2019. $249,489,000 of loans were in real estate loans. $2,579,000 of loans were in development loans. $330,000 of loans were in multifamily mortgage loans. $103,542,000 of loans were in 1-4 family mortgage loans. $12,442,000 of loans were in farm loans. $993,000 of loans were in credit card loans. $4,487,000 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	206	$36,732	$178,311
Nonfarm, nonresidential loans - <$100k	100	$9,282	$92,820
Nonfarm, nonresidential loans - $100-250k	53	$6,435	$121,415
Nonfarm, nonresidential loans - $250k-1MM	53	$21,015	$396,509
Commercial & Industrial, US addressed loans - <$1MM	251	$9,040	$36,016
Commercial & Industrial, US addressed loans - <$100k	234	$5,754	$24,590
Commercial & Industrial, US addressed loans - $100-250k	14	$1,716	$122,571
Commercial & Industrial, US addressed loans - $250k-1MM	3	$1,570	$523,333
Farmland loans - <$1MM	386	$44,784	$116,021
Farmland loans - <$100k	193	$9,561	$49,539
Farmland loans - $100-250k	133	$16,413	$123,406
Farmland loans - $250k-1MM	60	$18,810	$313,500
Agriculture operations loans - <$1MM	422	$11,787	$27,931
Agriculture operations loans - <$100k	391	$7,019	$17,951
Agriculture operations loans - $100-250k	25	$3,607	$144,280
Agriculture operations loans - $250k-1MM	6	$1,161	$193,500