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

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.

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

Purchase Price:

Loan Amount:

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% Deposit:

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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

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

Oakstar Bank
Similarity Rank: 962

First Community Bank
Similarity Rank: 1692

Simmons Bank
Similarity Rank: 2800

Great Southern Bank
Similarity Rank: 3240

FirstTrust Home Loans, Inc.
Similarity Rank: 3348

Commerce Bank
Similarity Rank: 3564

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