Extraco Banks Mortgage Rates, Fees & Info

Temple, TX

LEI: 549300F7S6KEMTKK0546

Tax ID: 74-0935612

5 stars - out of 5 stars, based on 25 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & Overview

    Extraco Banks is a smaller bank specializing in Home Purchase and Refi loans. Extraco Banks 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.) Their top markets by origination volume include: Killeen, College Station, Waco, Dallas, and Corpus Christi among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Extraco Banks 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. Extraco Banks is typically an average 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
    30 Year Conventional Purchase 6.56% 10/3/22
    30 Year Conventional Refi 6.61% 10/3/22
    30 Year Cash-out Refi 6.67% 10/3/22
    30 Year FHA Purchase 7.38% 10/3/22
    30 Year VA Purchase 6.16% 10/3/22
    15 Year Conventional Purchase 6.31% 10/3/22
    15 Year Conventional Refi 6.31% 10/3/22
    15 Year Cash-out Refi 6.31% 10/3/22
    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.


    Originations

    609

    Origination Dollar Volume (All Markets)

    $189,495,000

    Employee count

    312

    Awards

    Extraco Banks 30 Year Conventional Loans bronze Extraco Banks 30 Year Conventional Loans bronze Extraco Banks 30 Year Conventional Loans gold
    Show all (3) awards

    Relative Rate

    Extraco Banks's average 30 year fixed mortgage rate was 3.17%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.02%.

    Relative Fees (Closing Costs)

    Extraco Banks's average total fees/closing costs for a 30 year fixed rate mortgage were $4,595.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 266 $67,930,000 $255,376 $4,347 3.44%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 115 $38,265,000 $332,739 $4,629 3.30%
    WACO, TX (FHA|USDA|VA) 95 $35,345,000 $372,053 $3,804 3.16%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 14 $9,520,000 $680,000 $4,732 3.15%
    CORPUS CHRISTI, TX (FHA|USDA|VA) 35 $7,875,000 $225,000 $4,566 3.07%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 18 $7,160,000 $397,778 $5,914 3.10%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 19 $5,835,000 $307,105 $4,642 3.21%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $5,405,000 $5,405,000 $0 3.80%
    Outside of Metro Areas 24 $5,220,000 $217,500 $4,387 3.38%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 8 $2,980,000 $372,500 $5,099 3.13%
    Brenham, TX (FHA|USDA|VA) 2 $770,000 $385,000 $5,787 2.56%
    SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $535,000 $535,000 $5,655 3.00%
    LUBBOCK, TX (FHA|USDA|VA) 2 $440,000 $220,000 $3,704 2.88%
    TYLER, TX (FHA|USDA|VA) 1 $405,000 $405,000 $5,487 3.00%
    Mineral Wells, TX (FHA|USDA|VA) 1 $335,000 $335,000 $4,716 2.38%
    VICTORIA, TX (FHA|USDA|VA) 1 $295,000 $295,000 $5,468 3.25%
    SAN ANGELO, TX (FHA|USDA|VA) 1 $275,000 $275,000 $3,888 3.00%
    Taos, NM (FHA|USDA|VA) 1 $235,000 $235,000 $0 4.50%
    Alice, TX (FHA|USDA|VA) 1 $225,000 $225,000 $8,063 3.13%
    Sulphur Springs, TX (FHA|USDA|VA) 1 $175,000 $175,000 $3,854 3.25%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.85%
    Bay City, TX (FHA|USDA|VA) 1 $115,000 $115,000 $5,001 3.25%

    Extraco Banks's top markets include Killeen, College Station, Waco, Dallas, and Corpus Christi among others.

    Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 583 $183,085,000 $314,039 $4,228 3.33%
    FHA 16 $3,470,000 $216,875 $7,902 3.02%
    VA 10 $2,940,000 $294,000 $7,483 2.74%

    For 2021, Extraco Banks's most frequently originated type of loan was Conventional, with 583 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 385 $129,785,000 $337,104 $4,849 3.38%
    Refi 182 $53,320,000 $292,967 $3,754 3.11%
    Cash Out Refi 30 $5,400,000 $180,000 $4,224 3.20%
    Other 7 $595,000 $85,000 $2,736 4.38%
    Home Improvement 5 $395,000 $79,000 $3,057 4.25%

    For 2021, Extraco Banks's most frequently cited loan purpose was Home Purchase, with 385 originations. The 2nd most popular reason was Refi, with 182 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 383 $109,535,000 $285,992 $4,595 3.17%
    15 Year 84 $19,550,000 $232,738 $3,852 2.84%
    10 Year 66 $20,340,000 $308,182 $3,246 4.18%
    5 Year 25 $10,955,000 $438,200 $0 4.10%
    20 Year 22 $5,530,000 $251,364 $4,169 2.89%
    Other 15 $10,355,000 $690,333 $3,035 4.03%
    1 Year 13 $1,825,000 $140,385 $0 4.40%
    3 Year 1 $11,405,000 $11,405,000 $0 3.85%

    For 2021, Extraco Banks's most frequently cited loan duration was 30 Year, with 383 originations. The 2nd most popular length was 15 Year, with 84 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 421 $116,965,000 $277,827
    $2k-3k 27 $7,085,000 $262,407
    $<1k 21 $4,125,000 $196,429
    $5k+ 4 $2,730,000 $682,500
    $3k-4k 3 $565,000 $188,333
    $4k-5k 2 $840,000 $420,000

    Extraco Banks's average total fees were $4,595, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 421 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 266 $99,010,000 $372,218
    2.5-3% 182 $50,730,000 $278,736
    4-5% 89 $16,905,000 $189,944
    <2.5% 70 $22,700,000 $324,286
    5-6% 2 $150,000 $75,000

    During 2021, Extraco Banks's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 3-4%, with 266 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 235 $64,525,000 $274,574 $4,541 3.13%
    $100k-200k 181 $27,395,000 $151,354 $3,790 3.36%
    $400k-600k 88 $42,400,000 $481,818 $5,244 2.96%
    $100,000 or less 71 $5,085,000 $71,620 $3,267 3.98%
    $600k-1MM 24 $17,740,000 $739,167 $5,755 3.71%
    $1MM+ 10 $32,350,000 $3,235,000 $14,181 3.80%

    2021 saw Extraco Banks place emphasis on $200k-400k loans with 235 originations, totaling $64,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 111 $26,855,000 $241,937 $4,549 3.17%
    $150k-250k 97 $31,275,000 $322,423 $4,602 3.14%
    $250k+ 91 $40,635,000 $446,538 $5,214 3.07%
    $50k-75k 88 $15,730,000 $178,750 $3,832 3.16%
    $75k-100k 72 $15,480,000 $215,000 $4,533 3.11%
    $50k or less 44 $5,680,000 $129,091 $3,893 3.39%

    Extraco Banks lent most frequently to those with incomes in the $100k-150k range, with 111 originations. The second most popular income band? $150k-250k, with 97 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 133 $37,635,000 $282,970 $4,341 3.07%
    30-36% 100 $24,690,000 $246,900 $4,429 3.04%
    <20% 79 $26,245,000 $332,215 $4,838 3.06%
    38% 20 $6,530,000 $326,500 $4,237 3.26%
    40% 19 $4,265,000 $224,474 $3,886 3.17%
    37% 19 $4,885,000 $257,105 $4,607 3.10%
    44% 18 $4,910,000 $272,778 $4,422 3.32%
    42% 16 $3,940,000 $246,250 $4,418 3.07%
    43% 16 $4,250,000 $265,625 $4,315 3.12%
    36% 14 $2,930,000 $209,286 $3,625 3.14%
    39% 14 $3,520,000 $251,429 $4,289 2.94%
    41% 13 $3,045,000 $234,231 $4,666 3.09%
    45% 9 $1,845,000 $205,000 $3,781 3.47%
    46% 8 $2,260,000 $282,500 $4,936 3.16%
    47% 7 $1,935,000 $276,429 $4,987 2.98%
    49% 6 $1,400,000 $233,333 $3,772 3.06%
    48% 4 $740,000 $185,000 $3,350 2.84%
    50-60% 3 $785,000 $261,667 $6,075 3.04%

    Extraco Banks lent most frequently to those with DTI ratios of 20-30%, with 133 originations. The next most common DTI ratio? 30-36%, with 100 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 444 $119,240,000 $268,559 $4,466 3.15%
    Not applicable 87 $49,615,000 $570,287 $0 4.24%
    Not provided 42 $9,650,000 $229,762 $3,948 3.04%
    Asian 17 $6,345,000 $373,235 $4,376 3.28%
    Black 14 $3,130,000 $223,571 $4,615 3.60%
    Asian Indian 3 $1,215,000 $405,000 $4,168 2.71%
    Native Hawaiian or Islander 1 $175,000 $175,000 $3,685 3.00%
    American Indian 1 $125,000 $125,000 $4,351 3.25%

    Approval Rates

    Total approvals of all applications
    94.33%

    Extraco Banks has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.51%

    Extraco Banks has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 609 $189,495,000 $311,158

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    609 $189,495,000 $311,158

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $5,380,000 $158,235 $3,903 3.22%
    40-60% 90 $26,620,000 $295,778 $3,917 3.09%
    60-80% 240 $79,310,000 $330,458 $4,308 3.52%
    80-100% 226 $69,460,000 $307,345 $4,716 3.17%
    Over 100% 3 $945,000 $315,000 $12,942 2.54%
    Under 20% 12 $900,000 $75,000 $2,648 3.76%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    EASTERN BANKSHARES INC Conventional home mortgage Incorrect information on your report 1 33.3%
    EASTERN BANKSHARES INC Conventional home mortgage Trouble during payment process 1 33.3%
    EASTERN BANKSHARES INC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Extraco Banks, National Association 100 West Central Texas Expressway Harker Heights, TX 76548 Full Service B&M $175,253
    Extraco Banks, National Association 1002 W. Central Texas Expwy. Killeen, TX 76541 Full Service B&M $73,003
    Extraco Banks, National Association 2000 North Main St Belton, TX 76513 Full Service B&M $103,787
    Extraco Banks, National Association 2205 Longmire College Station, TX 77845 Full Service B&M $0
    Extraco Banks, National Association 2706 South Texas Avenue Bryan, TX 77802 Full Service B&M $47,588
    Extraco Banks, National Association 3615 South 31st Street Temple, TX 76502 Full Service B&M $469,289
    Extraco Banks, National Association 415 N Johnson St. Mc Gregor, TX 76657 Full Service B&M $11,718
    Extraco Banks, National Association 605 S University Parks Dr Waco, TX 76706 Full Service B&M $10,715
    Extraco Banks, National Association 800 East Main Street Gatesville, TX 76528 Full Service B&M $108,927
    Extraco Banks, National Association 1003 East Highway 190 Copperas Cove, TX 76522 Full Service B&M $37,972
    Extraco Banks, National Association 1208 East Main Street Hamilton, TX 76531 Full Service B&M $38,419
    Extraco Banks, National Association 1504 Williams Drive Georgetown, TX 78628 Full Service B&M $47,384
    Extraco Banks, National Association 1700 North Valley Mills Drive Waco, TX 76710 Full Service B&M $292,698
    Extraco Banks, National Association 18-20 South Main Temple, TX 76503 Limited, Mobile/Seasonal Office $0
    Extraco Banks, National Association 18-20 South Main Temple, TX 76503 Limited, Drive-thru $0
    Extraco Banks, National Association 18-20 South Main Street Temple, TX 76501 Full Service B&M $135,566
    Extraco Banks, National Association 200 Hewitt Drive Waco, TX 76712 Full Service B&M $60,462

    For 2021, Extraco Banks had 17 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $52,137
    Net interest income $47,929
    Total noninterest income $20,939
    Gross Fiduciary activities income $4,300
    Service charges on deposit accounts $3,570
    Trading account gains and fees $0
    Additional Noninterest Income $13,069
    Pre-tax net operating income $17,607
    Securities gains (or losses, -) $-42
    Income before extraordinary items $17,565
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $17,565
    Minority interest net income $0
    Net income $17,565
    Sale, conversion, retirement of capital stock, net $72
    Net operating income $17,607

    Extraco Banks's gross interest income from loans was $52,137,000.
    Extraco Banks's net interest income from loans was $47,929,000.
    Extraco Banks's fee based income from loans was $3,570,000.
    Extraco Banks's net income from loans was $17,565,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,208
    Provision for credit losses $0
    Total noninterest expense $51,261
    Salaries and employee benefits $31,351
    Premises and equipment expense $7,973
    Additional noninterest expense $11,937
    Applicable income taxes $0
    Net charge-offs $155
    Cash dividends $7,500

    Extraco Banks's interest expense for loans was $4,208,000.
    Extraco Banks's payroll and benefits expense were $31,351,000.
    Extraco Banks's property, plant and equipment expenses $7,973,000.

    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 $1,732,845
    Deposits held in domestic offices $1,732,845
    Deposits by Individuals, partnerships, and corporations $1,646,470
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $85,872
    Deposits by Commercial banks and other depository institutions in U.S. $503
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $174,281
    Demand deposits $123,518
    Nontransaction accounts $1,558,564
    Money market deposit accounts (MMDAs) $1,411,444
    Other savings deposits (excluding MMDAs) $47,559
    Total time deposits $99,561
    Total time and savings deposits $1,609,327
    Noninterest-bearing deposits $577,739
    Interest-bearing deposits $1,155,106
    Retail deposits $1,706,374
    IRAs and Keogh plan accounts $21,287
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,038,670
    Cash & Balances due from depository institutions $510,839
    Interest-bearing balances $473,102
    Total securities $518,072
    Federal funds sold & reverse repurchase $0
    Net loans and leases $963,498
    Loan and leases loss allowance $28,491
    Trading account assets $0
    Bank premises and fixed assets $25,761
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $20,500

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,038,670
    Total Liabilities $1,868,148
    Total deposits $1,732,845
    Interest-bearing deposits $1,155,106
    Deposits held in domestic offices $1,732,845
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $104,524
    Trading liabilities $0
    Other borrowed funds $25,000
    Subordinated debt $0
    All other liabilities $5,779

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $963,498
    Loan and leases loss allowance $28,491
    Total loans and leases (domestic) $991,989
    All real estate loans $792,949
    Real estate loans in domestic offices $792,949
    Construction and development loans $111,126
    Residential 1-4 family construction $24,702
    Other construction, all land development and other land $86,424
    Loans secured by nonfarm nonresidential properties $317,831
    Nonfarm nonresidential secured by owner-occupied properties $125,979
    Commercial real estate & other non-farm, non-residential $191,852
    Multifamily residential real estate $21,336
    1-4 family residential loans $333,356
    Farmland loans $9,300
    Loans held in foreign offices $0
    Farm loans $3,346
    Commercial and industrial loans $39,645
    To non-U.S. addressees $0
    Loans to individuals $105,168
    Credit card loans $0
    Related Plans $3,750
    Consumer Auto Loans $94,597
    Other loans to individuals $6,821
    All other loans & leases $50,881
    Loans to foreign governments and official institutions $0
    Other loans $153
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Extraco Banks had $963,498,000 of loans outstanding in 2021. $792,949,000 of loans were in real estate loans. $111,126,000 of loans were in development loans. $21,336,000 of loans were in multifamily mortgage loans. $333,356,000 of loans were in 1-4 family mortgage loans. $3,346,000 of loans were in farm loans. $0 of loans were in credit card loans. $94,597,000 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 252 $63,369 $251,464
    Nonfarm, nonresidential loans - <$100k 38 $1,461 $38,447
    Nonfarm, nonresidential loans - $100-250k 74 $8,376 $113,189
    Nonfarm, nonresidential loans - $250k-1MM 140 $53,532 $382,371
    Commercial & Industrial, US addressed loans - <$1MM 369 $24,078 $65,252
    Commercial & Industrial, US addressed loans - <$100k 249 $5,064 $20,337
    Commercial & Industrial, US addressed loans - $100-250k 65 $5,824 $89,600
    Commercial & Industrial, US addressed loans - $250k-1MM 55 $13,190 $239,818
    Farmland loans - <$1MM 31 $3,555 $114,677
    Farmland loans - <$100k 13 $591 $45,462
    Farmland loans - $100-250k 11 $1,392 $126,545
    Farmland loans - $250k-1MM 7 $1,572 $224,571
    Agriculture operations loans - <$1MM 59 $1,407 $23,847
    Agriculture operations loans - <$100k 53 $955 $18,019
    Agriculture operations loans - $100-250k 6 $452 $75,333