Southwest Missouri Bank Mortgage Rates, Fees & Info

Carthage, MO

LEI: 549300DHRESF8KLNP162

Tax ID: 43-1161740

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Mortgage Data

Bank Data

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, Springfield, Miami, Fayetteville, and Montrose among others. We have data for 14 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 7.91% 3/28/24
30 Year Conventional Purchase 6.60% 3/28/24
30 Year Conventional Refi 6.73% 3/28/24
30 Year Cash-out Refi 6.60% 3/28/24
30 Year FHA Purchase 7.58% 3/28/24
30 Year VA Purchase 6.95% 3/28/24
30 Year USDA Purchase 7.16% 3/28/24
15 Year Conventional Purchase 6.16% 3/28/24
15 Year Conventional Refi 5.83% 3/28/24
15 Year Cash-out Refi 5.83% 3/28/24
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

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

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) 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.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arkansas (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: 322
    Pinnacle Bank
    Similarity Rank: 680
    Guaranty Bank
    Similarity Rank: 768
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    FirstTrust Home Loans, Inc.
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    GERSHMAN INVESTMENT CORP.
    Similarity Rank: 6164

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Southwest Missouri Bank's most frequently originated type of loan was Conventional, with 646 originations. Their 2nd most popular type was FHA, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Southwest Missouri Bank's most frequently cited loan purpose was Home Purchase, with 339 originations. The 2nd most popular reason was 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 2021, Southwest Missouri Bank's most frequently cited loan duration was 30 Year, with 341 originations. The 2nd most popular length was 15 Year, with 132 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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

    Southwest Missouri Bank's average total fees were $2,228, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.41%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    89.65%

    Southwest Missouri Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.66%

    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 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 4000 E 7th St Joplin, MO 64801 Full Service B&M $92,875
    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