Southstar Bank S.s.b. Mortgage Rates, Fees & Info

Moulton, TX

LEI: 549300C1YZ5ZORJBI935

Tax ID: 74-0619460

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Southstar Bank S.s.b. is a smaller bank specializing in Home Purchase loans. Southstar Bank S.s.b. has a high proportion of conventional loans. Their top markets include Austin, Houston, San Antonio, College Station, and Killeen among others. Southstar Bank S.s.b. 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

294

Origination Dollar Volume (All Markets)

$137,230,000

Employee count

167

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 136 $85,830,000 $631,103 $0 0.00%
Outside of Metro Areas 37 $12,215,000 $330,135 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 13 $9,125,000 $701,923 $0 0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 13 $7,445,000 $572,692 $0 0.00%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 29 $7,345,000 $253,276 $0 0.00%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 33 $5,335,000 $161,667 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 9 $2,775,000 $308,333 $0 0.00%
Fredericksburg, TX (FHA|USDA|VA) 7 $2,365,000 $337,857 $0 0.00%
CORPUS CHRISTI, TX (FHA|USDA|VA) 5 $1,475,000 $295,000 $0 0.00%
Kerrville, TX (FHA|USDA|VA) 5 $1,385,000 $277,000 $0 0.00%
Ruidoso, NM (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
Granbury, TX (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
VICTORIA, TX (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Port Lavaca, TX (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
LUBBOCK, TX (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Uvalde, TX (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%

Southstar Bank S.s.b.'s top markets include Austin, Houston, San Antonio, College Station, and Killeen among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 293 $136,945,000 $467,389 $0 0.00%
VA 1 $285,000 $285,000 $0 0.00%

For the 2021 period, Southstar Bank S.s.b.'s most frequently originated loan type of loans were Conventional, with 293 originations. Their 2nd most popular type is VA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 213 $110,035,000 $516,596 $0 0.00%
Refi 56 $21,450,000 $383,036 $0 0.00%
Cash Out Refi 19 $4,995,000 $262,895 $0 0.00%
Home Improvement 4 $560,000 $140,000 $0 0.00%
Other 2 $190,000 $95,000 $0 0.00%

For the 2021, Southstar Bank S.s.b.'s most frequently cited loan purpose of loans were Home Purchase, with 213 originations. The 2nd most popular reason of loans were Refi, with 56 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 294 $137,230,000 $466,769 $0 0.00%

For the 2021, Southstar Bank S.s.b.'s most frequently cited loan length of loans were Other, with 294 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 94 $27,380,000 $291,277 $0 0.00%
$400k-600k 61 $30,015,000 $492,049 $0 0.00%
$100k-200k 43 $6,235,000 $145,000 $0 0.00%
$600k-1MM 43 $31,895,000 $741,744 $0 0.00%
$100,000 or less 29 $1,885,000 $65,000 $0 0.00%
$1MM+ 24 $39,820,000 $1,659,167 $0 0.00%

2021 saw Southstar Bank S.s.b. place emphasis on $200k-400k loans with 94 originations, totaling $27,380,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 67 $64,355,000 $960,522 $0 0.00%
$150k-250k 61 $28,535,000 $467,787 $0 0.00%
$100k-150k 58 $18,960,000 $326,897 $0 0.00%
$75k-100k 24 $5,670,000 $236,250 $0 0.00%
$50k-75k 19 $4,185,000 $220,263 $0 0.00%
$50k or less 11 $1,325,000 $120,455 $0 0.00%

Southstar Bank S.s.b. lent most frequently to those with incomes in the $250k+ range, with 67 originations. The second most popular income band? $150k-250k, with 61 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 294 $137,230,000 $466,769 $0 0.00%

Southstar Bank S.s.b. lent most frequently to those with DTI ratios of Exempt%, with 294 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 195 $93,025,000 $477,051 $0 0.00%
Not provided 38 $25,650,000 $675,000 $0 0.00%
Not applicable 51 $12,955,000 $254,020 $0 0.00%
Asian 3 $2,885,000 $961,667 $0 0.00%
Black 5 $1,855,000 $371,000 $0 0.00%
Native Hawaiian 1 $545,000 $545,000 $0 0.00%
American Indian 1 $315,000 $315,000 $0 0.00%

Approval Rates

Total approvals of all applications
90.91%

Southstar Bank S.s.b. has an average approval rate.

Pick Rate

Approvals leading to origination
59.26%

Southstar Bank S.s.b. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
Exempt 294 $137,230,000 $466,769

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
294 $137,230,000 $466,769

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SOUTHSTATE CORPORATION Other type of mortgage Trouble during payment process 2 11.8%
SOUTHSTATE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 17.6%
SOUTHSTATE CORPORATION Conventional home mortgage Closing on a mortgage 3 17.6%
SOUTHSTATE CORPORATION Conventional home mortgage Incorrect information on your report 1 5.9%
SOUTHSTATE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 5.9%
SOUTHSTATE CORPORATION Conventional home mortgage Trouble during payment process 4 23.5%
SOUTHSTATE CORPORATION Home equity loan or line of credit (HELOC) Trouble during payment process 2 11.8%
SOUTHSTATE CORPORATION Other type of mortgage Closing on a mortgage 1 5.9%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Southstar Bank, S.S.B. 100 S Main Street Calvert, TX 77837 Full Service B&M $20,354
Southstar Bank, S.S.B. 4535 Williams Drive Georgetown, TX 78633 Full Service B&M $54,887
Southstar Bank, S.S.B. 5925 Steiner Ranch Blvd Austin, TX 78732 Full Service B&M $74,576
Southstar Bank, S.S.B. 702 W Us Highway 79 Franklin, TX 77856 Full Service B&M $80,151
Southstar Bank, S.S.B. 905 E Fm 2410 Harker Heights, TX 76548 Full Service B&M $15,004
Southstar Bank, S.S.B. 100 South Main Street Moulton, TX 77975 Full Service B&M $134,044
Southstar Bank, S.S.B. 10737 E Crystal Falls Pkwy Leander, TX 78641 Full Service B&M $26,036
Southstar Bank, S.S.B. 109 Commerce Street Bremond, TX 76629 Full Service B&M $70,457
Southstar Bank, S.S.B. 10901 West Highway 290 Austin, TX 78736 Full Service B&M $63,848
Southstar Bank, S.S.B. 1308 South Market Street Hearne, TX 77859 Full Service B&M $75,759
Southstar Bank, S.S.B. 1609 N Sarah Dewitt Drive Gonzales, TX 78629 Full Service B&M $68,690
Southstar Bank, S.S.B. 203 North Ave E Shiner, TX 77984 Full Service B&M $73,232
Southstar Bank, S.S.B. 301 South Brooks Street Brazoria, TX 77422 Full Service B&M $76,345
Southstar Bank, S.S.B. 3025 Fm 1431 Round Rock, TX 78681 Full Service B&M $23,270
Southstar Bank, S.S.B. 3490 Ranch Road 620 South Bee Cave, TX 78738 Full Service B&M $33,402

For 2021, Southstar Bank S.s.b. had 15 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $49,169
Net interest income $44,714
Total noninterest income $5,909
Gross Fiduciary activities income $0
Service charges on deposit accounts $778
Trading account gains and fees $0
Additional Noninterest Income $5,131
Pre-tax net operating income $18,920
Securities gains (or losses, -) $22
Income before extraordinary items $15,225
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $15,225
Minority interest net income $0
Net income $15,225
Sale, conversion, retirement of capital stock, net $0
Net operating income $15,207

Southstar Bank S.s.b.'s gross interest income from loans was $49,169,000.
Southstar Bank S.s.b.'s net interest income from loans was $44,714,000.
Southstar Bank S.s.b.'s fee based income from loans was $778,000.
Southstar Bank S.s.b.'s net income from loans was $15,225,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,455
Provision for credit losses $446
Total noninterest expense $31,257
Salaries and employee benefits $18,241
Premises and equipment expense $4,100
Additional noninterest expense $8,916
Applicable income taxes $3,717
Net charge-offs $466
Cash dividends $1,998

Southstar Bank S.s.b.'s interest expense for loans was $4,455,000.
Southstar Bank S.s.b.'s payroll and benefits expense were $18,241,000.
Southstar Bank S.s.b.'s property, plant and equipment expenses $4,100,000.

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 0.0%
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 $984,975
Deposits held in domestic offices $984,975
Deposits by Individuals, partnerships, and corporations $811,307
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $165,019
Deposits by Commercial banks and other depository institutions in U.S. $8,649
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $405,410
Demand deposits $405,410
Nontransaction accounts $579,565
Money market deposit accounts (MMDAs) $218,953
Other savings deposits (excluding MMDAs) $82,766
Total time deposits $277,846
Total time and savings deposits $579,565
Noninterest-bearing deposits $283,945
Interest-bearing deposits $701,030
Retail deposits $875,969
IRAs and Keogh plan accounts $12,959
Brokered deposits $8,152
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,160,385
Cash & Balances due from depository institutions $141,235
Interest-bearing balances $130,294
Total securities $119,391
Federal funds sold & reverse repurchase $0
Net loans and leases $843,504
Loan and leases loss allowance $6,388
Trading account assets $0
Bank premises and fixed assets $42,491
Other real estate owned $2,015
Goodwill and other intangibles $1,653
All other assets $10,096

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,160,385
Total Liabilities $1,041,601
Total deposits $984,975
Interest-bearing deposits $701,030
Deposits held in domestic offices $984,975
% insured (estimated) $71
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $55,314
Subordinated debt $0
All other liabilities $1,312

Issued Loan Types

Type Value (in 000's)
Net loans and leases $843,504
Loan and leases loss allowance $6,388
Total loans and leases (domestic) $849,892
All real estate loans $609,410
Real estate loans in domestic offices $609,410
Construction and development loans $160,679
Residential 1-4 family construction $52,822
Other construction, all land development and other land $107,857
Loans secured by nonfarm nonresidential properties $129,699
Nonfarm nonresidential secured by owner-occupied properties $76,673
Commercial real estate & other non-farm, non-residential $53,026
Multifamily residential real estate $3,107
1-4 family residential loans $202,840
Farmland loans $113,085
Loans held in foreign offices $0
Farm loans $3,045
Commercial and industrial loans $37,612
To non-U.S. addressees $0
Loans to individuals $3,790
Credit card loans $0
Related Plans $0
Consumer Auto Loans $517
Other loans to individuals $3,273
All other loans & leases $196,036
Loans to foreign governments and official institutions $0
Other loans $195,678
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $5,513
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,126
Non 1-4 family restructured loans & leases $1,126
Total loans and leases (foreign) $0

SouthStar Bank S.S.B. had $843,504,000 of loans outstanding in 2021. $609,410,000 of loans were in real estate loans. $160,679,000 of loans were in development loans. $3,107,000 of loans were in multifamily mortgage loans. $202,840,000 of loans were in 1-4 family mortgage loans. $3,045,000 of loans were in farm loans. $0 of loans were in credit card loans. $517,000 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 159 $47,267 $297,277
Nonfarm, nonresidential loans - <$100k 14 $495 $35,357
Nonfarm, nonresidential loans - $100-250k 52 $6,832 $131,385
Nonfarm, nonresidential loans - $250k-1MM 93 $39,940 $429,462
Commercial & Industrial, US addressed loans - <$1MM 214 $17,226 $80,495
Commercial & Industrial, US addressed loans - <$100k 151 $3,813 $25,252
Commercial & Industrial, US addressed loans - $100-250k 39 $4,871 $124,897
Commercial & Industrial, US addressed loans - $250k-1MM 24 $8,542 $355,917
Farmland loans - <$1MM 126 $19,012 $150,889
Farmland loans - <$100k 38 $2,045 $53,816
Farmland loans - $100-250k 61 $8,259 $135,393
Farmland loans - $250k-1MM 27 $8,708 $322,519
Agriculture operations loans - <$1MM 133 $3,045 $22,895
Agriculture operations loans - <$100k 124 $2,275 $18,347
Agriculture operations loans - $100-250k 9 $770 $85,556