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, Springfield, and Tulsa among others. We have data for 13 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

    782

    Origination Dollar Volume (All Markets)

    $110,180,000

    Employee count

    196 Show all (9) 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) 677 $93,205,000 $137,674 $2,115 3.74%
    Outside of Metro Areas 60 $9,830,000 $163,833 $2,053 4.01%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 13 $2,515,000 $193,462 $2,214 3.33%
    Pittsburg, KS (FHA|USDA|VA) 9 $1,155,000 $128,333 $3,102 3.97%
    SPRINGFIELD, MO (FHA|USDA|VA) 7 $875,000 $125,000 $2,240 3.42%
    TULSA, OK (FHA|USDA|VA) 3 $685,000 $228,333 $3,369 3.17%
    Miami, OK (FHA|USDA|VA) 5 $525,000 $105,000 $2,540 4.15%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $490,000 $245,000 $2,393 2.56%
    Parsons, KS (FHA|USDA|VA) 1 $225,000 $225,000 $2,495 3.70%
    Lebanon, MO (FHA|USDA|VA) 1 $205,000 $205,000 $1,372 3.70%
    Branson, MO (FHA|USDA|VA) 2 $200,000 $100,000 $2,992 4.31%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $135,000 $135,000 $2,731 2.25%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $135,000 $135,000 $1,959 2.75%
    Southwest Missouri Bank's top markets include Joplin, Fayetteville, Pittsburg, Springfield, and Tulsa among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Kansas (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: 403
    Pinnacle Bank
    Similarity Rank: 530
    Oakstar Bank
    Similarity Rank: 594
    FirstTrust Home Loans, Inc.
    Similarity Rank: 812
    First Community Bank
    Similarity Rank: 925
    Guaranty Bank
    Similarity Rank: 1152
    Simmons Bank
    Similarity Rank: 1240
    Great Southern Bank
    Similarity Rank: 2368
    Commerce Bank
    Similarity Rank: 3300
    Flanagan State Bank
    Similarity Rank: 3696

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 743 $104,195,000 $140,236 $2,025 3.80%
    FHA 16 $2,000,000 $125,000 $4,254 3.02%
    VA 13 $2,725,000 $209,615 $3,547 2.68%
    USDA 10 $1,260,000 $126,000 $3,362 2.90%

    For 2020, Southwest Missouri Bank's most frequently originated type of loan was Conventional, with 743 originations. Their 2nd most popular type was FHA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 353 $52,205,000 $147,890 $2,184 4.03%
    Refi 299 $41,115,000 $137,508 $2,019 3.52%
    Cash Out Refi 90 $13,690,000 $152,111 $2,434 2.99%
    Other 21 $1,965,000 $93,571 $1,852 4.44%
    Home Improvement 19 $1,205,000 $63,421 $1,510 5.16%

    For 2020, Southwest Missouri Bank's most frequently cited loan purpose was Home Purchase, with 353 originations. The 2nd most popular reason was Refi, with 299 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 417 $66,565,000 $159,628 $2,231 3.44%
    15 Year 158 $20,370,000 $128,924 $2,081 3.17%
    3 Year 52 $6,300,000 $121,154 $0 5.16%
    5 Year 51 $4,915,000 $96,373 $952 5.23%
    20 Year 48 $5,820,000 $121,250 $1,898 4.04%
    Other 23 $3,395,000 $147,609 $1,568 4.98%
    10 Year 22 $1,440,000 $65,455 $1,505 4.20%
    1 Year 11 $1,375,000 $125,000 $3,101 5.64%

    For 2020, Southwest Missouri Bank's most frequently cited loan duration was 30 Year, with 417 originations. The 2nd most popular length was 15 Year, with 158 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 633 $92,915,000 $146,785
    $1k-2k 18 $2,850,000 $158,333
    $2k-3k 1 $325,000 $325,000

    Southwest Missouri Bank's average total fees were $2,231, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 633 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 239 $36,295,000 $151,862
    3-4% 193 $30,125,000 $156,088
    4-5% 138 $17,060,000 $123,623
    <2.5% 89 $15,605,000 $175,337
    5-6% 80 $8,310,000 $103,875
    6-7% 30 $1,960,000 $65,333
    7-8% 11 $765,000 $69,545
    Over 8% 2 $60,000 $30,000

    During 2020, Southwest Missouri Bank's average interest rate for loans was 3.44%, while their most frequently originated rate bucket for loans was 2.5-3%, with 239 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 330 $47,420,000 $143,697 $2,171 3.39%
    $100,000 or less 296 $18,670,000 $63,074 $1,804 4.36%
    $200k-400k 142 $37,330,000 $262,887 $2,532 3.33%
    $400k-600k 13 $5,995,000 $461,154 $2,603 3.57%
    $600k-1MM 1 $765,000 $765,000 $0 5.15%

    2020 saw Southwest Missouri Bank place emphasis on $100k-200k loans with 330 originations, totaling $47,420,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 202 $18,310,000 $90,644 $1,980 3.92%
    $50k-75k 174 $22,310,000 $128,218 $2,158 3.78%
    $75k-100k 125 $18,415,000 $147,320 $2,151 3.63%
    $100k-150k 123 $22,215,000 $180,610 $2,164 3.43%
    $150k-250k 52 $11,610,000 $223,269 $2,304 3.34%
    $250k+ 18 $4,530,000 $251,667 $2,379 3.43%

    Southwest Missouri Bank lent most frequently to those with incomes in the $50k or less range, with 202 originations. The second most popular income band? $50k-75k, with 174 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 211 $28,585,000 $135,474 $2,033 3.54%
    <20% 156 $19,830,000 $127,115 $2,043 3.47%
    30-36% 116 $17,740,000 $152,931 $2,271 3.55%
    40% 22 $3,220,000 $146,364 $2,352 3.40%
    38% 21 $3,575,000 $170,238 $2,639 3.67%
    39% 20 $2,590,000 $129,500 $2,087 3.86%
    37% 19 $2,675,000 $140,789 $2,120 3.75%
    36% 19 $2,915,000 $153,421 $2,300 3.30%
    43% 16 $2,570,000 $160,625 $2,309 3.50%
    41% 16 $2,420,000 $151,250 $2,329 3.07%
    42% 13 $1,745,000 $134,231 $2,053 3.83%
    50-60% 11 $2,065,000 $187,727 $1,652 4.35%
    >60% 10 $1,480,000 $148,000 $2,118 4.40%
    45% 9 $925,000 $102,778 $1,935 4.60%
    48% 8 $1,670,000 $208,750 $2,309 3.33%
    46% 8 $1,570,000 $196,250 $2,229 4.20%
    44% 8 $1,270,000 $158,750 $2,502 3.44%
    47% 5 $585,000 $117,000 $1,987 4.76%
    49% 4 $510,000 $127,500 $2,538 4.58%

    Southwest Missouri Bank lent most frequently to those with DTI ratios of 20-30%, with 211 originations. The next most common DTI ratio? <20%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 701 $97,405,000 $138,951 $2,124 3.70%
    Not applicable 44 $6,150,000 $139,773 $0 4.98%
    Not provided 18 $3,080,000 $171,111 $2,337 2.99%
    American Indian 9 $1,605,000 $178,333 $2,235 3.37%
    Asian 7 $1,085,000 $155,000 $2,326 3.80%
    Black 2 $690,000 $345,000 $1,902 3.04%
    Other Asian 1 $165,000 $165,000 $1,698 2.63%

    Approval Rates

    Total approvals of all applications
    89.56%

    Southwest Missouri Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.61%

    Southwest Missouri Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    190.0 1 $25,000 $25,000
    NA 781 $110,155,000 $141,044

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $185,000 $185,000
    Multifamily:Site-Built 9 $3,495,000 $388,333
    Single Family (1-4 Units):Manufactured 27 $1,925,000 $71,296
    Single Family (1-4 Units):Site-Built 745 $104,575,000 $140,369

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 56 $4,020,000 $71,786 $1,695 4.38%
    40-60% 130 $16,760,000 $128,923 $2,058 3.67%
    60-80% 349 $51,525,000 $147,636 $2,078 3.72%
    80-100% 242 $37,460,000 $154,793 $2,293 3.67%
    Over 100% 1 $265,000 $265,000 $11,483 3.13%
    Under 20% 4 $150,000 $37,500 $1,923 5.50%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SOUTHWEST FUNDING, LP VA mortgage Closing on a mortgage 1 20.0%
    SOUTHWEST FUNDING, LP FHA mortgage Closing on a mortgage 3 60.0%
    SOUTHWEST FUNDING, LP FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Southwest Missouri Bank 1000 East 32nd Joplin, MO 64804 Full Service B&M $128,148
    Southwest Missouri Bank 101 E Grand Avenue Jasper, MO 64755 Full Service B&M $32,621
    Southwest Missouri Bank 110 North Neosho Boulevard Neosho, MO 64850 Full Service B&M $45,152
    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 $94,382
    Southwest Missouri Bank 2530 North Rangeline Joplin, MO 64801 Full Service B&M $97,639
    Southwest Missouri Bank 2995 Gardner Edgewood Drive Neosho, MO 64850 Full Service B&M $24,312
    Southwest Missouri Bank 300 West Third Street Carthage, MO 64836 Full Service B&M $141,574
    Southwest Missouri Bank 3202 Mcclelland Boulevard Joplin, MO 64804 Full Service B&M $35,170
    Southwest Missouri Bank 4000 E 7th St Joplin, MO 64801 Full Service B&M $84,584
    Southwest Missouri Bank 5935 North Main Street Joplin, MO 64801 Full Service B&M $75,774

    For 2020, Southwest Missouri Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,587
    Net interest income $29,120
    Total noninterest income $10,123
    Gross Fiduciary activities income $885
    Service charges on deposit accounts $2,135
    Trading account gains and fees $0
    Additional Noninterest Income $7,103
    Pre-tax net operating income $9,181
    Securities gains (or losses, -) $1,020
    Income before extraordinary items $8,179
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,179
    Minority interest net income $0
    Net income $8,179
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,363

    Southwest Missouri Bank's gross interest income from loans was $31,587,000.
    Southwest Missouri Bank's net interest income from loans was $29,120,000.
    Southwest Missouri Bank's fee based income from loans was $2,135,000.
    Southwest Missouri Bank's net income from loans was $8,179,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,467
    Provision for credit losses $1,975
    Total noninterest expense $28,087
    Salaries and employee benefits $15,234
    Premises and equipment expense $3,392
    Additional noninterest expense $9,461
    Applicable income taxes $2,022
    Net charge-offs $414
    Cash dividends $2,805

    Southwest Missouri Bank's interest expense for loans was $2,467,000.
    Southwest Missouri Bank's payroll and benefits expense were $15,234,000.
    Southwest Missouri Bank's property, plant and equipment expenses $3,392,000.

    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 0.3%
    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 $843,768
    Deposits held in domestic offices $843,768
    Deposits by Individuals, partnerships, and corporations $733,361
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $110,033
    Deposits by Commercial banks and other depository institutions in U.S. $375
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $138,492
    Demand deposits $77,915
    Nontransaction accounts $705,277
    Money market deposit accounts (MMDAs) $425,570
    Other savings deposits (excluding MMDAs) $141,035
    Total time deposits $138,673
    Total time and savings deposits $765,854
    Noninterest-bearing deposits $77,903
    Interest-bearing deposits $765,865
    Retail deposits $819,916
    IRAs and Keogh plan accounts $20,307
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $975,463
    Cash & Balances due from depository institutions $106,907
    Interest-bearing balances $85,324
    Total securities $346,540
    Federal funds sold & reverse repurchase $3,480
    Net loans and leases $476,909
    Loan and leases loss allowance $5,860
    Trading account assets $0
    Bank premises and fixed assets $15,034
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $26,593

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $975,463
    Total Liabilities $894,418
    Total deposits $843,768
    Interest-bearing deposits $765,865
    Deposits held in domestic offices $843,768
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $32,661
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $17,989

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $476,909
    Loan and leases loss allowance $5,860
    Total loans and leases (domestic) $482,769
    All real estate loans $339,145
    Real estate loans in domestic offices $339,145
    Construction and development loans $28,084
    Residential 1-4 family construction $7,240
    Other construction, all land development and other land $20,844
    Loans secured by nonfarm nonresidential properties $72,225
    Nonfarm nonresidential secured by owner-occupied properties $37,697
    Commercial real estate & other non-farm, non-residential $34,528
    Multifamily residential real estate $9,772
    1-4 family residential loans $193,004
    Farmland loans $36,060
    Loans held in foreign offices $0
    Farm loans $9,010
    Commercial and industrial loans $74,213
    To non-U.S. addressees $0
    Loans to individuals $59,022
    Credit card loans $1,714
    Related Plans $1,127
    Consumer Auto Loans $31,498
    Other loans to individuals $24,683
    All other loans & leases $1,378
    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 $19
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,076
    Non 1-4 family restructured loans & leases $3,596
    Total loans and leases (foreign) $0

    Southwest Missouri Bank had $476,909,000 of loans outstanding in 2020. $339,145,000 of loans were in real estate loans. $28,084,000 of loans were in development loans. $9,772,000 of loans were in multifamily mortgage loans. $193,004,000 of loans were in 1-4 family mortgage loans. $9,010,000 of loans were in farm loans. $1,714,000 of loans were in credit card loans. $31,498,000 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 341 $50,629 $148,472
    Nonfarm, nonresidential loans - <$100k 120 $4,224 $35,200
    Nonfarm, nonresidential loans - $100-250k 125 $14,764 $118,112
    Nonfarm, nonresidential loans - $250k-1MM 96 $31,641 $329,594
    Commercial & Industrial, US addressed loans - <$1MM 2,350 $42,122 $17,924
    Commercial & Industrial, US addressed loans - <$100k 2,176 $15,833 $7,276
    Commercial & Industrial, US addressed loans - $100-250k 124 $12,350 $99,597
    Commercial & Industrial, US addressed loans - $250k-1MM 50 $13,939 $278,780
    Farmland loans - <$1MM 242 $24,408 $100,860
    Farmland loans - <$100k 115 $5,527 $48,061
    Farmland loans - $100-250k 98 $11,878 $121,204
    Farmland loans - $250k-1MM 29 $7,003 $241,483
    Agriculture operations loans - <$1MM 244 $9,010 $36,926
    Agriculture operations loans - <$100k 212 $4,554 $21,481
    Agriculture operations loans - $100-250k 23 $2,276 $98,957
    Agriculture operations loans - $250k-1MM 9 $2,180 $242,222