Southwest Missouri Bank Mortgage Rates, Fees & Info

Carthage, MO

LEI: 549300DHRESF8KLNP162

Tax ID: 43-1161740

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & 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 by origination volume include: Joplin, Fayetteville, Pittsburg, Miami, and Springfield among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Southwest Missouri 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. Southwest Missouri Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 7.91% 12/16/24
    30 Year Conventional Purchase 6.60% 12/16/24
    30 Year Conventional Refi 6.73% 12/16/24
    30 Year Cash-out Refi 6.60% 12/16/24
    30 Year FHA Purchase 7.58% 12/16/24
    30 Year VA Purchase 6.95% 12/16/24
    30 Year USDA Purchase 7.16% 12/16/24
    15 Year Conventional Purchase 6.16% 12/16/24
    15 Year Conventional Refi 5.83% 12/16/24
    15 Year Cash-out Refi 5.83% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Southwest Missouri Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Southwest Missouri Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    496

    Origination Dollar Volume (All Markets)

    $52,950,000

    Employee count

    200 Show all (8) awards

    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
    JOPLIN, MO (FHA|USDA|VA) 434 $47,170,000 $108,687 $1,846 5.23%
    Outside of Metro Areas 51 $4,025,000 $78,922 $1,824 5.54%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 4 $1,230,000 $307,500 $2,029 4.83%
    Pittsburg, KS (FHA|USDA|VA) 3 $245,000 $81,667 $2,363 5.08%
    Miami, OK (FHA|USDA|VA) 3 $165,000 $55,000 $1,859 4.98%
    SPRINGFIELD, MO (FHA|USDA|VA) 1 $115,000 $115,000 $4,297 4.88%
    Southwest Missouri Bank's top markets include Joplin, Fayetteville, Pittsburg, Miami, and Springfield among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Southwest Missouri Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Southwest Missouri Bank
    Similarity Rank: 144
    Great Southern Bank
    Similarity Rank: 345
    Guaranty Bank
    Similarity Rank: 416
    Pinnacle Bank
    Similarity Rank: 798
    Premier Home Mortgage Inc.
    Similarity Rank: 1920
    Commerce Bank
    Similarity Rank: 2006
    BANK OF LITTLE ROCK MORTGAGE CORPORATION
    Similarity Rank: 3255
    Simmons Bank
    Similarity Rank: 4212
    FLAT BRANCH MORTGAGE, INC.
    Similarity Rank: 4464
    USAA Federal Savings Bank
    Similarity Rank: 5424

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 449 $47,805,000 $106,470 $1,623 5.34%
    FHA 21 $2,315,000 $110,238 $3,804 4.49%
    USDA 18 $1,870,000 $103,889 $2,829 4.27%
    VA 8 $960,000 $120,000 $4,069 4.52%

    For 2018, Southwest Missouri Bank's most frequently originated type of loan was Conventional, with 449 originations. Their 2nd most popular type was FHA, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 303 $33,935,000 $111,997 $1,987 5.14%
    Refi 125 $14,155,000 $113,240 $1,560 5.39%
    Cash Out Refi 26 $3,020,000 $116,154 $2,206 4.83%
    Home Improvement 25 $925,000 $37,000 $1,217 5.90%
    Other 17 $915,000 $53,824 $1,588 5.88%

    For 2018, Southwest Missouri Bank's most frequently cited loan purpose was Home Purchase, with 303 originations. The 2nd most popular reason was Refi, with 125 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 257 $32,665,000 $127,101 $2,070 4.98%
    15 Year 59 $4,975,000 $84,322 $1,563 5.07%
    5 Year 53 $4,095,000 $77,264 $1,314 5.96%
    3 Year 50 $4,700,000 $94,000 $1,681 5.73%
    Other 32 $1,870,000 $58,438 $1,181 5.60%
    20 Year 21 $2,265,000 $107,857 $1,409 5.28%
    10 Year 19 $1,335,000 $70,263 $1,232 5.67%
    1 Year 5 $1,045,000 $209,000 $0 5.35%

    For 2018, Southwest Missouri Bank's most frequently cited loan duration was 30 Year, with 257 originations. The 2nd most popular length was 15 Year, with 59 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 369 $41,095,000 $111,369
    $1k-2k 9 $1,085,000 $120,556

    Southwest Missouri Bank's average total fees were $2,070, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 369 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 224 $29,680,000 $132,500
    5-6% 180 $15,910,000 $88,389
    6-7% 60 $4,050,000 $67,500
    3-4% 18 $2,640,000 $146,667
    7-8% 14 $670,000 $47,857

    During 2018, Southwest Missouri Bank's average interest rate for loans was 4.98%, while their most frequently originated rate bucket for loans was 4-5%, with 224 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 286 $16,430,000 $57,448 $1,560 5.54%
    $100k-200k 162 $22,210,000 $137,099 $2,204 4.88%
    $200k-400k 40 $10,320,000 $258,000 $2,089 4.74%
    $400k-600k 8 $3,990,000 $498,750 $2,117 5.01%

    2018 saw Southwest Missouri Bank place emphasis on $100,000 or less loans with 286 originations, totaling $16,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 159 $11,605,000 $72,987 $1,797 5.27%
    $50k-75k 117 $11,205,000 $95,769 $1,943 5.26%
    $75k-100k 72 $7,890,000 $109,583 $1,781 5.30%
    $100k-150k 53 $7,105,000 $134,057 $1,843 5.26%
    $150k-250k 31 $6,355,000 $205,000 $2,089 4.83%
    $250k+ 11 $1,885,000 $171,364 $2,029 5.12%

    Southwest Missouri Bank lent most frequently to those with incomes in the $50k or less range, with 159 originations. The second most popular income band? $50k-75k, with 117 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 137 $14,425,000 $105,292 $1,846 5.20%
    30-36% 87 $8,545,000 $98,218 $1,977 5.18%
    <20% 75 $7,045,000 $93,933 $1,568 5.12%
    38% 15 $1,245,000 $83,000 $1,530 5.53%
    36% 14 $1,700,000 $121,429 $1,985 4.89%
    37% 14 $1,760,000 $125,714 $1,943 5.13%
    42% 13 $1,995,000 $153,462 $2,173 4.92%
    40% 13 $1,975,000 $151,923 $2,031 4.78%
    41% 13 $1,475,000 $113,462 $2,156 5.03%
    >60% 8 $750,000 $93,750 $1,839 5.61%
    39% 7 $975,000 $139,286 $1,933 5.14%
    50-60% 7 $615,000 $87,857 $1,419 5.66%
    43% 5 $605,000 $121,000 $3,118 5.88%
    44% 4 $540,000 $135,000 $1,855 5.82%
    47% 2 $210,000 $105,000 $1,994 5.40%
    46% 2 $320,000 $160,000 $1,437 5.53%
    48% 1 $65,000 $65,000 $1,394 4.88%
    45% 1 $145,000 $145,000 $2,905 4.00%
    49% 1 $55,000 $55,000 $0 5.25%

    Southwest Missouri Bank lent most frequently to those with DTI ratios of 20-30%, with 137 originations. The next most common DTI ratio? 30-36%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 445 $46,615,000 $104,753 $1,852 5.23%
    Not applicable 35 $4,505,000 $128,714 $0 5.56%
    Asian 3 $625,000 $208,333 $2,297 5.00%
    American Indian 7 $545,000 $77,857 $1,806 5.03%
    Not provided 4 $510,000 $127,500 $1,915 5.16%
    1 $85,000 $85,000 $0 4.95%
    Native Hawaiian or Islander 1 $65,000 $65,000 $1,298 6.00%

    Approval Rates

    Total approvals of all applications
    89.61%

    Southwest Missouri Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.27%

    Southwest Missouri Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    107.0 1 $5,000 $5,000
    95.0 1 $25,000 $25,000
    NA 494 $52,920,000 $107,126

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $405,000 $135,000
    Multifamily:Site-Built 11 $2,355,000 $214,091
    Single Family (1-4 Units):Manufactured 40 $2,110,000 $52,750
    Single Family (1-4 Units):Site-Built 442 $48,080,000 $108,778

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 41 $2,735,000 $66,707 $1,237 5.50%
    40-60% 65 $5,415,000 $83,308 $1,459 5.48%
    60-80% 204 $23,280,000 $114,118 $1,720 5.41%
    80-100% 180 $21,090,000 $117,167 $2,223 4.94%
    Over 100% 3 $295,000 $98,333 $3,553 4.17%
    Under 20% 2 $30,000 $15,000 $839 6.88%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    SOUTHWEST FUNDING, LP Conventional home mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Southwest Missouri Bank 1000 East 32nd Joplin, MO 64804 Full Service B&M $104,101
    Southwest Missouri Bank 101 E Grand Avenue Jasper, MO 64755 Full Service B&M $29,215
    Southwest Missouri Bank 110 North Neosho Boulevard Neosho, MO 64850 Full Service B&M $38,207
    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 $85,404
    Southwest Missouri Bank 2530 North Rangeline Joplin, MO 64801 Full Service B&M $58,577
    Southwest Missouri Bank 2995 Gardner Edgewood Drive Neosho, MO 64850 Full Service B&M $20,573
    Southwest Missouri Bank 300 West Third Street Carthage, MO 64836 Full Service B&M $128,105
    Southwest Missouri Bank 3202 Mcclelland Boulevard Joplin, MO 64804 Full Service B&M $26,231
    Southwest Missouri Bank 4000 E 7th St Joplin, MO 64801 Full Service B&M $73,314
    Southwest Missouri Bank 5935 North Main Street Joplin, MO 64801 Full Service B&M $58,744

    For 2018, Southwest Missouri Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,634
    Net interest income $25,437
    Total noninterest income $7,711
    Gross Fiduciary activities income $778
    Service charges on deposit accounts $2,260
    Trading account gains and fees $0
    Additional Noninterest Income $4,673
    Pre-tax net operating income $7,097
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,773
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,773
    Minority interest net income $0
    Net income $5,773
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,773

    Southwest Missouri Bank's gross interest income from loans was $27,634,000.
    Southwest Missouri Bank's net interest income from loans was $25,437,000.
    Southwest Missouri Bank's fee based income from loans was $2,260,000.
    Southwest Missouri Bank's net income from loans was $5,773,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,197
    Provision for credit losses $500
    Total noninterest expense $25,551
    Salaries and employee benefits $14,160
    Premises and equipment expense $3,142
    Additional noninterest expense $8,249
    Applicable income taxes $1,324
    Net charge-offs $328
    Cash dividends $2,882

    Southwest Missouri Bank's interest expense for loans was $2,197,000.
    Southwest Missouri Bank's payroll and benefits expense were $14,160,000.
    Southwest Missouri Bank's property, plant and equipment expenses $3,142,000.

    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 $652,005
    Deposits held in domestic offices $652,005
    Deposits by Individuals, partnerships, and corporations $558,296
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $93,518
    Deposits by Commercial banks and other depository institutions in U.S. $190
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $92,224
    Demand deposits $48,925
    Nontransaction accounts $559,780
    Money market deposit accounts (MMDAs) $330,505
    Other savings deposits (excluding MMDAs) $98,849
    Total time deposits $130,427
    Total time and savings deposits $603,079
    Noninterest-bearing deposits $48,913
    Interest-bearing deposits $603,092
    Retail deposits $622,397
    IRAs and Keogh plan accounts $19,799
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $750,335
    Cash & Balances due from depository institutions $42,060
    Interest-bearing balances $25,659
    Total securities $236,192
    Federal funds sold & reverse repurchase $3,713
    Net loans and leases $423,870
    Loan and leases loss allowance $4,160
    Trading account assets $0
    Bank premises and fixed assets $16,095
    Other real estate owned $149
    Goodwill and other intangibles $0
    All other assets $28,256

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $750,335
    Total Liabilities $685,072
    Total deposits $652,005
    Interest-bearing deposits $603,092
    Deposits held in domestic offices $652,005
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $17,549
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $15,518

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $423,870
    Loan and leases loss allowance $4,160
    Total loans and leases (domestic) $428,030
    All real estate loans $308,572
    Real estate loans in domestic offices $308,572
    Construction and development loans $14,716
    Residential 1-4 family construction $5,878
    Other construction, all land development and other land $8,838
    Loans secured by nonfarm nonresidential properties $65,235
    Nonfarm nonresidential secured by owner-occupied properties $37,064
    Commercial real estate & other non-farm, non-residential $28,171
    Multifamily residential real estate $9,498
    1-4 family residential loans $185,960
    Farmland loans $33,163
    Loans held in foreign offices $0
    Farm loans $10,108
    Commercial and industrial loans $51,915
    To non-U.S. addressees $0
    Loans to individuals $55,888
    Credit card loans $1,716
    Related Plans $1,122
    Consumer Auto Loans $28,814
    Other loans to individuals $24,236
    All other loans & leases $1,548
    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 $11
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,786
    Non 1-4 family restructured loans & leases $4,003
    Total loans and leases (foreign) $0

    Southwest Missouri Bank had $423,870,000 of loans outstanding in 2018. $308,572,000 of loans were in real estate loans. $14,716,000 of loans were in development loans. $9,498,000 of loans were in multifamily mortgage loans. $185,960,000 of loans were in 1-4 family mortgage loans. $10,108,000 of loans were in farm loans. $1,716,000 of loans were in credit card loans. $28,814,000 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 330 $47,327 $143,415
    Nonfarm, nonresidential loans - <$100k 127 $4,991 $39,299
    Nonfarm, nonresidential loans - $100-250k 120 $13,777 $114,808
    Nonfarm, nonresidential loans - $250k-1MM 83 $28,559 $344,084
    Commercial & Industrial, US addressed loans - <$1MM 1,258 $33,581 $26,694
    Commercial & Industrial, US addressed loans - <$100k 1,126 $11,351 $10,081
    Commercial & Industrial, US addressed loans - $100-250k 95 $10,110 $106,421
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $12,120 $327,568
    Farmland loans - <$1MM 228 $23,489 $103,022
    Farmland loans - <$100k 107 $5,394 $50,411
    Farmland loans - $100-250k 97 $11,504 $118,598
    Farmland loans - $250k-1MM 24 $6,591 $274,625
    Agriculture operations loans - <$1MM 265 $8,783 $33,143
    Agriculture operations loans - <$100k 235 $5,229 $22,251
    Agriculture operations loans - $100-250k 27 $2,878 $106,593
    Agriculture operations loans - $250k-1MM 3 $676 $225,333