Southwest Missouri Bank Mortgage Rates, Fees & Info

Carthage, MO

LEI: 549300DHRESF8KLNP162

Tax ID: 43-1161740

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Southwest Missouri Bank is a smaller bank specializing in Home Purchase and Refi loans. Southwest Missouri 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.) They have a low ratio of USDA loans. Their top markets include Joplin, Springfield, Miami, Fayetteville, and Montrose among others. Southwest Missouri 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. Southwest Missouri Bank is typically a low fee lendor.


Originations

667

Origination Dollar Volume (All Markets)

$98,115,000

Employee count

196

Awards

Southwest Missouri Bank 30 Year Conventional Loans gold Southwest Missouri Bank 30 Year Conventional Loans silver Southwest Missouri Bank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Southwest Missouri Bank's average 30 year fixed rate mortgage of loans were 3.41%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.26%.

Relative Fees

Southwest Missouri Bank's average total fees for a 30 year fixed rate mortgage are $2,228.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
JOPLIN, MO (FHA|USDA|VA) 591 $85,465,000 $144,611 $2,076 3.68%
Outside of Metro Areas 54 $7,680,000 $142,222 $2,293 3.88%
SPRINGFIELD, MO (FHA|USDA|VA) 4 $2,020,000 $505,000 $1,524 3.93%
Miami, OK (FHA|USDA|VA) 5 $645,000 $129,000 $3,732 3.28%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 3 $425,000 $141,667 $2,217 3.48%
Montrose, CO (FHA|USDA|VA) 1 $365,000 $365,000 $3,576 2.95%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $365,000 $365,000 $3,231 3.25%
Pittsburg, KS (FHA|USDA|VA) 2 $320,000 $160,000 $2,372 3.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 3.70%
TULSA, OK (FHA|USDA|VA) 1 $165,000 $165,000 $5,985 2.25%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $145,000 $145,000 $1,784 2.49%
Coffeyville, KS (FHA|USDA|VA) 1 $105,000 $105,000 $2,050 2.49%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $95,000 $95,000 $2,151 2.85%
Branson, MO (FHA|USDA|VA) 1 $85,000 $85,000 $2,178 2.95%

Southwest Missouri Bank's top markets include Joplin, Springfield, Miami, Fayetteville, and Montrose among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 646 $95,180,000 $147,337 $2,029 3.70%
FHA 9 $1,035,000 $115,000 $4,422 3.12%
USDA 7 $785,000 $112,143 $3,031 3.00%
VA 5 $1,115,000 $223,000 $5,979 3.57%

For the 2021 period, Southwest Missouri Bank's most frequently originated loan type of loans were Conventional, with 646 originations. Their 2nd most popular type is FHA, with 9 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 339 $50,865,000 $150,044 $2,173 3.88%
Refi 238 $36,160,000 $151,933 $2,023 3.43%
Cash Out Refi 59 $7,905,000 $133,983 $2,364 3.19%
Other 17 $1,565,000 $92,059 $1,849 4.29%
Home Improvement 14 $1,620,000 $115,714 $1,677 4.56%

For the 2021, Southwest Missouri Bank's most frequently cited loan purpose of loans were Home Purchase, with 339 originations. The 2nd most popular reason of loans were Refi, with 238 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 341 $53,865,000 $157,962 $2,228 3.41%
15 Year 132 $16,100,000 $121,970 $2,045 3.05%
5 Year 55 $7,985,000 $145,182 $1,259 4.95%
20 Year 45 $5,785,000 $128,556 $1,973 4.06%
3 Year 37 $4,175,000 $112,838 $0 4.87%
10 Year 27 $2,285,000 $84,630 $1,522 3.96%
Other 22 $6,600,000 $300,000 $1,664 5.02%
1 Year 8 $1,320,000 $165,000 $2,855 4.86%

For the 2021, Southwest Missouri Bank's most frequently cited loan length of loans were 30 Year, with 341 originations. The 2nd most popular length of loans were 15 Year, with 132 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 529 $74,375,000 $140,595
$1k-2k 20 $3,690,000 $184,500
$2k-3k 1 $235,000 $235,000
$3k-4k 1 $165,000 $165,000

$2,228 of loans were Southwest Missouri Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 529 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 221 $34,055,000 $154,095
3-4% 175 $31,425,000 $179,571
4-5% 142 $18,580,000 $130,845
<2.5% 54 $7,910,000 $146,481
5-6% 53 $3,925,000 $74,057
6-7% 19 $2,005,000 $105,526
7-8% 3 $215,000 $71,667

During 2021, Southwest Missouri Bank's average interest rate of loans were 3.41%, while their most frequently originated rate bucket of loans were 2.5-3%, with 221 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 270 $17,370,000 $64,333 $1,812 4.14%
$100k-200k 269 $37,275,000 $138,569 $2,173 3.36%
$200k-400k 114 $29,020,000 $254,561 $2,297 3.38%
$400k-600k 9 $4,325,000 $480,556 $4,734 3.54%
$1MM+ 4 $9,500,000 $2,375,000 $0 4.06%
$600k-1MM 1 $625,000 $625,000 $4,067 5.00%

2021 saw Southwest Missouri Bank place emphasis on $100,000 or less loans with 270 originations, totaling $17,370,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 190 $18,010,000 $94,789 $1,968 3.84%
$50k-75k 167 $20,615,000 $123,443 $2,069 3.62%
$75k-100k 104 $15,180,000 $145,962 $2,173 3.32%
$100k-150k 86 $14,930,000 $173,605 $2,196 3.50%
$150k-250k 43 $9,285,000 $215,930 $2,754 3.69%
$250k+ 15 $3,375,000 $225,000 $2,453 3.40%

Southwest Missouri Bank lent most frequently to those with incomes in the $50k or less range, with 190 originations. The second most popular income band? $50k-75k, with 167 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 193 $26,365,000 $136,606 $2,104 3.50%
<20% 114 $13,570,000 $119,035 $1,947 3.32%
30-36% 107 $14,185,000 $132,570 $2,147 3.56%
39% 21 $2,525,000 $120,238 $2,003 3.93%
36% 20 $3,300,000 $165,000 $2,122 3.42%
38% 16 $2,160,000 $135,000 $2,156 3.80%
41% 16 $3,170,000 $198,125 $2,350 3.52%
40% 15 $2,515,000 $167,667 $2,226 3.58%
37% 15 $2,395,000 $159,667 $3,326 3.70%
44% 13 $1,705,000 $131,154 $2,019 3.91%
42% 12 $1,480,000 $123,333 $1,754 3.85%
45% 11 $1,425,000 $129,545 $2,019 3.60%
43% 9 $1,195,000 $132,778 $2,721 3.23%
50-60% 8 $1,050,000 $131,250 $1,910 4.39%
48% 3 $325,000 $108,333 $2,559 3.33%
49% 2 $320,000 $160,000 $2,313 3.00%
>60% 2 $760,000 $380,000 $3,069 4.35%
47% 1 $255,000 $255,000 $1,989 2.75%
46% 1 $185,000 $185,000 $2,530 2.63%

Southwest Missouri Bank lent most frequently to those with DTI ratios of 20-30%, with 193 originations. The next most common DTI ratio? <20%, with 114 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 581 $80,275,000 $138,167 $2,094 3.62%
Not applicable 38 $10,560,000 $277,895 $433 4.75%
Not provided 17 $2,475,000 $145,588 $1,892 3.70%
American Indian 14 $2,130,000 $152,143 $3,546 3.53%
Asian 13 $1,845,000 $141,923 $1,980 3.78%
Black 1 $375,000 $375,000 $1,644 3.00%
Native Hawaiian 2 $340,000 $170,000 $2,175 2.75%
Asian Indian 1 $115,000 $115,000 $1,739 4.70%

Approval Rates

Total approvals of all applications
90.04%

Southwest Missouri Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.77%

Southwest Missouri Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
12.0 1 $105,000 $105,000
NA 666 $98,010,000 $147,162

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
667 $98,115,000 $147,099

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 48 $4,240,000 $88,333 $1,932 3.57%
40-60% 123 $15,575,000 $126,626 $1,998 3.64%
60-80% 293 $49,585,000 $169,232 $2,121 3.74%
80-100% 188 $27,710,000 $147,394 $2,178 3.62%
Over 100% 1 $505,000 $505,000 $20,437 3.13%
Under 20% 14 $500,000 $35,714 $1,527 4.25%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SOUTHWEST FUNDING, LP VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
SOUTHWEST FUNDING, LP FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Southwest Missouri Bank 4000 E 7th St Joplin, MO 64801 Full Service B&M $92,875
Southwest Missouri Bank 1000 East 32nd Joplin, MO 64804 Full Service B&M $142,181
Southwest Missouri Bank 101 E Grand Avenue Jasper, MO 64755 Full Service B&M $35,876
Southwest Missouri Bank 110 North Neosho Boulevard Neosho, MO 64850 Full Service B&M $52,364
Southwest Missouri Bank 202 W. High Alba, MO 64830 Limited, Drive-thru $0
Southwest Missouri Bank 2417 South Grand Avenue Carthage, MO 64836 Full Service B&M $114,070
Southwest Missouri Bank 2530 North Rangeline Joplin, MO 64801 Full Service B&M $120,482
Southwest Missouri Bank 2995 Gardner Edgewood Drive Neosho, MO 64850 Full Service B&M $28,196
Southwest Missouri Bank 300 West Third Street Carthage, MO 64836 Full Service B&M $171,105
Southwest Missouri Bank 3202 Mcclelland Boulevard Joplin, MO 64804 Full Service B&M $42,402
Southwest Missouri Bank 5935 North Main Street Joplin, MO 64801 Full Service B&M $90,529

For 2021, Southwest Missouri Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $31,776
Net interest income $30,364
Total noninterest income $11,530
Gross Fiduciary activities income $1,166
Service charges on deposit accounts $2,154
Trading account gains and fees $0
Additional Noninterest Income $8,210
Pre-tax net operating income $11,122
Securities gains (or losses, -) $268
Income before extraordinary items $9,421
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $9,421
Minority interest net income $0
Net income $9,421
Sale, conversion, retirement of capital stock, net $0
Net operating income $9,198

Southwest Missouri Bank's gross interest income from loans was $31,776,000.
Southwest Missouri Bank's net interest income from loans was $30,364,000.
Southwest Missouri Bank's fee based income from loans was $2,154,000.
Southwest Missouri Bank's net income from loans was $9,421,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,412
Provision for credit losses $1,000
Total noninterest expense $29,772
Salaries and employee benefits $16,422
Premises and equipment expense $3,216
Additional noninterest expense $10,134
Applicable income taxes $1,969
Net charge-offs $355
Cash dividends $2,769

Southwest Missouri Bank's interest expense for loans was $1,412,000.
Southwest Missouri Bank's payroll and benefits expense were $16,422,000.
Southwest Missouri Bank's property, plant and equipment expenses $3,216,000.

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 $968,919
Deposits held in domestic offices $968,919
Deposits by Individuals, partnerships, and corporations $846,147
Deposits by U.S. Government $7
Deposits by States and political subdivisions in the U.S. $122,447
Deposits by Commercial banks and other depository institutions in U.S. $319
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $154,847
Demand deposits $94,204
Nontransaction accounts $814,073
Money market deposit accounts (MMDAs) $493,275
Other savings deposits (excluding MMDAs) $176,720
Total time deposits $144,079
Total time and savings deposits $874,716
Noninterest-bearing deposits $94,187
Interest-bearing deposits $874,732
Retail deposits $933,317
IRAs and Keogh plan accounts $21,411
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,102,317
Cash & Balances due from depository institutions $88,155
Interest-bearing balances $74,092
Total securities $491,808
Federal funds sold & reverse repurchase $5,547
Net loans and leases $471,007
Loan and leases loss allowance $6,506
Trading account assets $0
Bank premises and fixed assets $14,456
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $31,344

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,102,317
Total Liabilities $1,021,125
Total deposits $968,919
Interest-bearing deposits $874,732
Deposits held in domestic offices $968,919
% insured (estimated) $77
Federal funds purchased and repurchase agreements $33,389
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $18,817

Issued Loan Types

Type Value (in 000's)
Net loans and leases $471,007
Loan and leases loss allowance $6,506
Total loans and leases (domestic) $477,513
All real estate loans $351,041
Real estate loans in domestic offices $351,041
Construction and development loans $29,413
Residential 1-4 family construction $8,541
Other construction, all land development and other land $20,872
Loans secured by nonfarm nonresidential properties $81,921
Nonfarm nonresidential secured by owner-occupied properties $41,116
Commercial real estate & other non-farm, non-residential $40,805
Multifamily residential real estate $8,614
1-4 family residential loans $193,074
Farmland loans $38,019
Loans held in foreign offices $0
Farm loans $8,355
Commercial and industrial loans $52,912
To non-U.S. addressees $0
Loans to individuals $64,023
Credit card loans $1,755
Related Plans $716
Consumer Auto Loans $35,460
Other loans to individuals $26,092
All other loans & leases $1,181
Loans to foreign governments and official institutions $0
Other loans $0
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $15
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $3,023
Non 1-4 family restructured loans & leases $2,605
Total loans and leases (foreign) $0

Southwest Missouri Bank had $471,007,000 of loans outstanding in 2021. $351,041,000 of loans were in real estate loans. $29,413,000 of loans were in development loans. $8,614,000 of loans were in multifamily mortgage loans. $193,074,000 of loans were in 1-4 family mortgage loans. $8,355,000 of loans were in farm loans. $1,755,000 of loans were in credit card loans. $35,460,000 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 328 $56,430 $172,043
Nonfarm, nonresidential loans - <$100k 105 $4,180 $39,810
Nonfarm, nonresidential loans - $100-250k 111 $13,397 $120,694
Nonfarm, nonresidential loans - $250k-1MM 112 $38,853 $346,902
Commercial & Industrial, US addressed loans - <$1MM 1,587 $34,362 $21,652
Commercial & Industrial, US addressed loans - <$100k 1,447 $12,121 $8,377
Commercial & Industrial, US addressed loans - $100-250k 90 $8,926 $99,178
Commercial & Industrial, US addressed loans - $250k-1MM 50 $13,315 $266,300
Farmland loans - <$1MM 243 $25,283 $104,045
Farmland loans - <$100k 107 $4,952 $46,280
Farmland loans - $100-250k 105 $13,023 $124,029
Farmland loans - $250k-1MM 31 $7,308 $235,742
Agriculture operations loans - <$1MM 220 $7,855 $35,705
Agriculture operations loans - <$100k 192 $4,188 $21,813
Agriculture operations loans - $100-250k 21 $2,048 $97,524
Agriculture operations loans - $250k-1MM 7 $1,619 $231,286