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, Springfield, Pittsburg, and Tulsa among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Southwest Missouri Bank has an above 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% 4/21/24
    30 Year Conventional Purchase 6.60% 4/21/24
    30 Year Conventional Refi 6.73% 4/21/24
    30 Year Cash-out Refi 6.60% 4/21/24
    30 Year FHA Purchase 7.58% 4/21/24
    30 Year VA Purchase 6.95% 4/21/24
    30 Year USDA Purchase 7.16% 4/21/24
    15 Year Conventional Purchase 6.16% 4/21/24
    15 Year Conventional Refi 5.83% 4/21/24
    15 Year Cash-out Refi 5.83% 4/21/24
    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

    528

    Origination Dollar Volume (All Markets)

    $58,060,000

    Employee count

    198 Show all (13) 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) 463 $50,185,000 $108,391 $1,945 5.08%
    Outside of Metro Areas 48 $4,940,000 $102,917 $2,176 5.49%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 5 $1,595,000 $319,000 $3,466 3.81%
    SPRINGFIELD, MO (FHA|USDA|VA) 4 $690,000 $172,500 $2,750 4.46%
    Pittsburg, KS (FHA|USDA|VA) 3 $295,000 $98,333 $2,447 4.91%
    TULSA, OK (FHA|USDA|VA) 2 $210,000 $105,000 $3,287 5.48%
    Miami, OK (FHA|USDA|VA) 2 $80,000 $40,000 $2,167 5.25%
    COLUMBIA, MO (FHA|USDA|VA) 1 $65,000 $65,000 $1,553 4.49%
    Southwest Missouri Bank's top markets include Joplin, Fayetteville, Springfield, Pittsburg, and Tulsa among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Kansas (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: 176
    Community National Bank & Trust
    Similarity Rank: 442
    Guaranty Bank
    Similarity Rank: 496
    Pinnacle Bank
    Similarity Rank: 528
    BANK OF LITTLE ROCK MORTGAGE CORPORATION
    Similarity Rank: 763
    Great Southern Bank
    Similarity Rank: 910
    Commerce Bank
    Similarity Rank: 2877
    Flanagan State Bank
    Similarity Rank: 2907
    DAS Acquisition Company, LLC
    Similarity Rank: 6312
    Mortgage Research Center, LLC
    Similarity Rank: 6440

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 484 $52,340,000 $108,140 $1,804 5.22%
    FHA 19 $2,365,000 $124,474 $4,212 3.76%
    VA 13 $1,955,000 $150,385 $3,100 3.66%
    USDA 12 $1,400,000 $116,667 $2,932 3.85%

    For 2019, Southwest Missouri Bank's most frequently originated type of loan was Conventional, with 484 originations. Their 2nd most popular type was FHA, with 19 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 320 $36,810,000 $115,031 $2,085 5.05%
    Refi 122 $13,750,000 $112,705 $1,770 5.14%
    Cash Out Refi 49 $5,725,000 $116,837 $2,303 4.19%
    Home Improvement 23 $845,000 $36,739 $1,273 6.54%
    Other 14 $930,000 $66,429 $1,469 6.66%

    For 2019, Southwest Missouri Bank's most frequently cited loan purpose was Home Purchase, with 320 originations. The 2nd most popular reason was Refi, with 122 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 276 $37,130,000 $134,529 $2,128 4.61%
    15 Year 63 $6,415,000 $101,825 $1,914 4.30%
    5 Year 62 $3,870,000 $62,419 $1,151 6.29%
    3 Year 56 $4,900,000 $87,500 $0 6.13%
    Other 28 $2,770,000 $98,929 $1,636 6.24%
    20 Year 23 $1,745,000 $75,870 $1,664 5.26%
    10 Year 14 $520,000 $37,143 $1,168 5.98%
    1 Year 6 $710,000 $118,333 $1,779 6.17%

    For 2019, Southwest Missouri Bank's most frequently cited loan duration was 30 Year, with 276 originations. The 2nd most popular length was 15 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 378 $45,010,000 $119,074
    $1k-2k 11 $1,615,000 $146,818
    $2k-3k 1 $115,000 $115,000

    Southwest Missouri Bank's average total fees were $2,128, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 378 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 156 $20,830,000 $133,526
    5-6% 131 $13,085,000 $99,885
    4-5% 116 $14,910,000 $128,534
    6-7% 98 $7,620,000 $77,755
    7-8% 24 $1,560,000 $65,000
    Over 8% 3 $55,000 $18,333

    During 2019, Southwest Missouri Bank's average interest rate for loans was 4.61%, while their most frequently originated rate bucket for loans was 3-4%, with 156 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 288 $16,820,000 $58,403 $1,774 5.48%
    $100k-200k 185 $25,225,000 $136,351 $2,050 4.64%
    $200k-400k 49 $12,685,000 $258,878 $2,695 4.65%
    $400k-600k 4 $1,920,000 $480,000 $2,621 5.11%
    $600k-1MM 2 $1,410,000 $705,000 $3,025 4.69%

    2019 saw Southwest Missouri Bank place emphasis on $100,000 or less loans with 288 originations, totaling $16,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 160 $12,320,000 $77,000 $1,917 5.20%
    $50k-75k 122 $13,080,000 $107,213 $2,040 4.91%
    $100k-150k 74 $9,770,000 $132,027 $2,005 4.92%
    $75k-100k 73 $9,045,000 $123,904 $2,057 4.86%
    $150k-250k 31 $5,345,000 $172,419 $2,353 4.91%
    $250k+ 8 $1,700,000 $212,500 $2,341 5.57%

    Southwest Missouri Bank lent most frequently to those with incomes in the $50k or less range, with 160 originations. The second most popular income band? $50k-75k, with 122 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 142 $15,910,000 $112,042 $2,107 4.89%
    30-36% 89 $9,745,000 $109,494 $1,748 5.12%
    <20% 72 $6,680,000 $92,778 $1,792 4.75%
    43% 13 $1,455,000 $111,923 $2,416 4.85%
    36% 13 $1,705,000 $131,154 $2,300 4.57%
    40% 13 $2,065,000 $158,846 $2,261 4.70%
    41% 13 $1,615,000 $124,231 $2,155 4.67%
    39% 13 $1,775,000 $136,538 $2,035 4.89%
    38% 12 $1,330,000 $110,833 $2,238 4.65%
    37% 12 $1,290,000 $107,500 $2,227 4.64%
    42% 10 $1,030,000 $103,000 $2,179 4.95%
    44% 9 $805,000 $89,444 $2,119 4.73%
    45% 6 $1,060,000 $176,667 $1,875 5.29%
    >60% 6 $710,000 $118,333 $1,509 5.69%
    47% 5 $535,000 $107,000 $1,687 4.95%
    50-60% 3 $235,000 $78,333 $1,025 5.83%
    48% 2 $210,000 $105,000 $1,137 5.14%
    49% 2 $300,000 $150,000 $2,149 6.28%
    46% 2 $250,000 $125,000 $3,368 6.05%

    Southwest Missouri Bank lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? 30-36%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 464 $51,220,000 $110,388 $1,985 5.03%
    Not applicable 41 $3,935,000 $95,976 $0 5.98%
    Not provided 9 $915,000 $101,667 $1,950 4.81%
    Asian 3 $855,000 $285,000 $2,549 4.69%
    American Indian 7 $725,000 $103,571 $1,943 5.38%
    Black 2 $250,000 $125,000 $4,347 3.31%
    Native Hawaiian or Islander 2 $160,000 $80,000 $1,792 5.13%

    Approval Rates

    Total approvals of all applications
    91.69%

    Southwest Missouri Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.28%

    Southwest Missouri Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    107.0 2 $50,000 $25,000
    186.0 2 $40,000 $20,000
    NA 524 $57,970,000 $110,630

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 4 $650,000 $162,500
    Multifamily:Site-Built 7 $2,875,000 $410,714
    Single Family (1-4 Units):Manufactured 27 $1,335,000 $49,444
    Single Family (1-4 Units):Site-Built 490 $53,200,000 $108,571

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $2,390,000 $66,389 $1,544 5.34%
    40-60% 77 $7,985,000 $103,701 $1,765 5.39%
    60-80% 204 $22,320,000 $109,412 $1,874 5.20%
    80-100% 205 $25,005,000 $121,976 $2,308 4.84%
    Over 100% 1 $165,000 $165,000 $3,179 3.38%
    Under 20% 5 $195,000 $39,000 $853 5.89%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SOUTHWEST FUNDING, LP FHA mortgage Closing on a mortgage 1 100.0%

    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 $77,574
    Southwest Missouri Bank 1000 East 32nd Joplin, MO 64804 Full Service B&M $106,661
    Southwest Missouri Bank 101 E Grand Avenue Jasper, MO 64755 Full Service B&M $28,410
    Southwest Missouri Bank 110 North Neosho Boulevard Neosho, MO 64850 Full Service B&M $40,141
    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 $80,657
    Southwest Missouri Bank 2530 North Rangeline Joplin, MO 64801 Full Service B&M $71,893
    Southwest Missouri Bank 2995 Gardner Edgewood Drive Neosho, MO 64850 Full Service B&M $21,615
    Southwest Missouri Bank 300 West Third Street Carthage, MO 64836 Full Service B&M $120,985
    Southwest Missouri Bank 3202 Mcclelland Boulevard Joplin, MO 64804 Full Service B&M $28,186
    Southwest Missouri Bank 5935 North Main Street Joplin, MO 64801 Full Service B&M $65,614

    For 2019, Southwest Missouri Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,441
    Net interest income $26,990
    Total noninterest income $8,926
    Gross Fiduciary activities income $738
    Service charges on deposit accounts $2,733
    Trading account gains and fees $0
    Additional Noninterest Income $5,455
    Pre-tax net operating income $8,781
    Securities gains (or losses, -) $-72
    Income before extraordinary items $7,123
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,123
    Minority interest net income $0
    Net income $7,123
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,182

    Southwest Missouri Bank's gross interest income from loans was $30,441,000.
    Southwest Missouri Bank's net interest income from loans was $26,990,000.
    Southwest Missouri Bank's fee based income from loans was $2,733,000.
    Southwest Missouri Bank's net income from loans was $7,123,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,451
    Provision for credit losses $625
    Total noninterest expense $26,510
    Salaries and employee benefits $14,464
    Premises and equipment expense $3,268
    Additional noninterest expense $8,778
    Applicable income taxes $1,586
    Net charge-offs $486
    Cash dividends $4,257

    Southwest Missouri Bank's interest expense for loans was $3,451,000.
    Southwest Missouri Bank's payroll and benefits expense were $14,464,000.
    Southwest Missouri Bank's property, plant and equipment expenses $3,268,000.

    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 $685,499
    Deposits held in domestic offices $685,499
    Deposits by Individuals, partnerships, and corporations $600,101
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $85,263
    Deposits by Commercial banks and other depository institutions in U.S. $135
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $97,719
    Demand deposits $55,811
    Nontransaction accounts $587,780
    Money market deposit accounts (MMDAs) $339,083
    Other savings deposits (excluding MMDAs) $105,963
    Total time deposits $142,734
    Total time and savings deposits $629,688
    Noninterest-bearing deposits $55,800
    Interest-bearing deposits $629,699
    Retail deposits $652,562
    IRAs and Keogh plan accounts $20,525
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $795,891
    Cash & Balances due from depository institutions $56,661
    Interest-bearing balances $39,712
    Total securities $246,746
    Federal funds sold & reverse repurchase $4,506
    Net loans and leases $444,698
    Loan and leases loss allowance $4,299
    Trading account assets $0
    Bank premises and fixed assets $15,775
    Other real estate owned $190
    Goodwill and other intangibles $0
    All other assets $27,315

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $795,891
    Total Liabilities $723,479
    Total deposits $685,499
    Interest-bearing deposits $629,699
    Deposits held in domestic offices $685,499
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $20,906
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $17,074

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $444,698
    Loan and leases loss allowance $4,299
    Total loans and leases (domestic) $448,997
    All real estate loans $312,323
    Real estate loans in domestic offices $312,323
    Construction and development loans $17,562
    Residential 1-4 family construction $7,482
    Other construction, all land development and other land $10,080
    Loans secured by nonfarm nonresidential properties $67,332
    Nonfarm nonresidential secured by owner-occupied properties $33,958
    Commercial real estate & other non-farm, non-residential $33,374
    Multifamily residential real estate $8,643
    1-4 family residential loans $183,325
    Farmland loans $35,461
    Loans held in foreign offices $0
    Farm loans $9,865
    Commercial and industrial loans $66,607
    To non-U.S. addressees $0
    Loans to individuals $58,722
    Credit card loans $1,770
    Related Plans $1,544
    Consumer Auto Loans $30,725
    Other loans to individuals $24,683
    All other loans & leases $1,481
    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 $22
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,442
    Non 1-4 family restructured loans & leases $3,866
    Total loans and leases (foreign) $0

    Southwest Missouri Bank had $444,698,000 of loans outstanding in 2019. $312,323,000 of loans were in real estate loans. $17,562,000 of loans were in development loans. $8,643,000 of loans were in multifamily mortgage loans. $183,325,000 of loans were in 1-4 family mortgage loans. $9,865,000 of loans were in farm loans. $1,770,000 of loans were in credit card loans. $30,725,000 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 336 $49,684 $147,869
    Nonfarm, nonresidential loans - <$100k 120 $4,651 $38,758
    Nonfarm, nonresidential loans - $100-250k 125 $14,546 $116,368
    Nonfarm, nonresidential loans - $250k-1MM 91 $30,487 $335,022
    Commercial & Industrial, US addressed loans - <$1MM 2,037 $37,519 $18,419
    Commercial & Industrial, US addressed loans - <$100k 1,890 $12,014 $6,357
    Commercial & Industrial, US addressed loans - $100-250k 103 $10,411 $101,078
    Commercial & Industrial, US addressed loans - $250k-1MM 44 $15,094 $343,045
    Farmland loans - <$1MM 224 $23,556 $105,161
    Farmland loans - <$100k 108 $5,480 $50,741
    Farmland loans - $100-250k 89 $10,949 $123,022
    Farmland loans - $250k-1MM 27 $7,127 $263,963
    Agriculture operations loans - <$1MM 265 $8,970 $33,849
    Agriculture operations loans - <$100k 233 $4,844 $20,790
    Agriculture operations loans - $100-250k 27 $2,841 $105,222
    Agriculture operations loans - $250k-1MM 5 $1,285 $257,000