Spiritbank Mortgage Rates, Fees & Info

Tulsa, OK

LEI: 549300HUGQ1D4T4GJH13

Tax ID: 73-0126338

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

    Spiritbank is a smaller bank specializing in Home Purchase and Refi loans. Spiritbank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Tulsa, Oklahoma City, Fort Smith, Bartlesville, and Little Rock among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Spiritbank 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. Spiritbank 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 6.85% 12/16/24
    30 Year Conventional Refi 6.65% 12/16/24
    30 Year Cash-out Refi 6.76% 12/16/24
    30 Year FHA Purchase 7.45% 12/16/24
    30 Year VA Purchase 6.20% 12/16/24
    15 Year Conventional Purchase 6.39% 12/16/24
    15 Year Conventional Refi 5.65% 12/16/24
    15 Year Cash-out Refi 5.65% 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.

    Spiritbank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Spiritbank. 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

    334

    Origination Dollar Volume (All Markets)

    $61,480,000

    Employee count

    128

    Awards

    SpiritBank 30 Year Conventional Loans bronze SpiritBank 30 Year Conventional Loans bronze
    Show all (2) 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
    TULSA, OK (FHA|USDA|VA) 259 $49,875,000 $192,568 $4,307 4.20%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 67 $9,845,000 $146,940 $3,013 5.40%
    Outside of Metro Areas 4 $840,000 $210,000 $4,629 4.02%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $385,000 $385,000 $3,008 3.13%
    Bartlesville, OK (FHA|USDA|VA) 2 $280,000 $140,000 $4,979 3.38%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $255,000 $255,000 $2,843 3.13%
    Spiritbank's top markets include Tulsa, Oklahoma City, Fort Smith, Bartlesville, and Little Rock among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Similar Lenders

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

    RED CROWN
    Similarity Rank: 408
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 437
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 456
    SpiritBank
    Similarity Rank: 606
    OKLAHOMA'S
    Similarity Rank: 684
    Tulsa Federal Credit Union
    Similarity Rank: 819
    Central Bank of Oklahoma
    Similarity Rank: 888
    Armstrong Bank
    Similarity Rank: 1247
    TTCU Federal Credit Union
    Similarity Rank: 1430
    Mabrey Bank
    Similarity Rank: 1564

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 288 $52,990,000 $183,993 $3,431 4.61%
    FHA 37 $6,205,000 $167,703 $6,870 3.27%
    VA 7 $1,805,000 $257,857 $9,405 3.34%
    USDA 2 $480,000 $240,000 $6,433 3.13%

    For 2020, Spiritbank's most frequently originated type of loan was Conventional, with 288 originations. Their 2nd most popular type was FHA, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 247 $40,755,000 $165,000 $4,200 4.67%
    Refi 68 $17,220,000 $253,235 $3,661 3.57%
    Cash Out Refi 9 $2,255,000 $250,556 $4,103 3.32%
    Home Improvement 6 $1,140,000 $190,000 $738 5.08%
    Other 4 $110,000 $27,500 $634 5.56%

    For 2020, Spiritbank's most frequently cited loan purpose was Home Purchase, with 247 originations. The 2nd most popular reason was Refi, with 68 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 155 $23,315,000 $150,419 $3,364 5.44%
    30 Year 119 $25,935,000 $217,941 $5,222 3.18%
    15 Year 24 $6,060,000 $252,500 $3,947 3.41%
    10 Year 20 $2,730,000 $136,500 $1,533 4.95%
    Other 13 $3,125,000 $240,385 $2,150 4.86%
    1 Year 2 $300,000 $150,000 $0 3.73%
    5 Year 1 $15,000 $15,000 $440 6.50%

    For 2020, Spiritbank's most frequently cited loan duration was 20 Year, with 155 originations. The 2nd most popular length was 30 Year, with 119 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 271 $45,195,000 $166,771
    $<1k 17 $2,545,000 $149,706
    $2k-3k 4 $950,000 $237,500
    $3k-4k 2 $550,000 $275,000
    $4k-5k 1 $515,000 $515,000

    Spiritbank's average total fees were $5,222, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 271 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 126 $15,390,000 $122,143
    2.5-3% 67 $15,845,000 $236,493
    3-4% 59 $13,285,000 $225,169
    4-5% 42 $9,660,000 $230,000
    6-7% 22 $2,640,000 $120,000
    <2.5% 17 $3,835,000 $225,588

    During 2020, Spiritbank's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 5-6%, with 126 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 166 $23,360,000 $140,723 $3,984 4.46%
    $100,000 or less 81 $5,745,000 $70,926 $2,876 5.48%
    $200k-400k 61 $16,765,000 $274,836 $5,217 3.19%
    $400k-600k 21 $9,795,000 $466,429 $5,394 3.53%
    $600k-1MM 3 $2,205,000 $735,000 $0 5.25%
    $1MM+ 2 $3,610,000 $1,805,000 $0 5.06%

    2020 saw Spiritbank place emphasis on $100k-200k loans with 166 originations, totaling $23,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 116 $12,680,000 $109,310 $3,885 5.11%
    $50k-75k 78 $11,370,000 $145,769 $3,988 4.54%
    $100k-150k 37 $8,955,000 $242,027 $4,676 3.22%
    $75k-100k 32 $5,690,000 $177,813 $4,405 3.90%
    $150k-250k 23 $6,885,000 $299,348 $3,854 3.58%
    $250k+ 12 $4,310,000 $359,167 $4,129 3.72%

    Spiritbank lent most frequently to those with incomes in the $50k or less range, with 116 originations. The second most popular income band? $50k-75k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 78 $12,540,000 $160,769 $3,600 4.63%
    30-36% 75 $12,835,000 $171,133 $3,713 4.46%
    <20% 31 $4,735,000 $152,742 $3,511 4.03%
    38% 13 $2,275,000 $175,000 $4,838 4.58%
    37% 12 $2,200,000 $183,333 $4,192 4.47%
    36% 12 $1,520,000 $126,667 $3,717 4.85%
    45% 11 $2,275,000 $206,818 $5,389 3.51%
    42% 11 $1,325,000 $120,455 $3,962 4.82%
    39% 9 $1,595,000 $177,222 $3,888 4.28%
    43% 9 $1,495,000 $166,111 $3,498 4.65%
    44% 8 $1,750,000 $218,750 $7,008 4.55%
    48% 8 $1,370,000 $171,250 $5,564 3.44%
    41% 7 $1,445,000 $206,429 $4,355 3.63%
    40% 5 $1,185,000 $237,000 $4,354 3.98%
    49% 4 $1,210,000 $302,500 $7,146 2.97%
    46% 3 $405,000 $135,000 $4,263 5.04%
    50-60% 2 $240,000 $120,000 $4,932 4.56%

    Spiritbank lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 75 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 252 $39,930,000 $158,452 $3,784 4.59%
    Not applicable 29 $9,945,000 $342,931 $0 4.64%
    Black 30 $6,450,000 $215,000 $5,849 3.49%
    American Indian 13 $2,385,000 $183,462 $4,612 3.55%
    Not provided 7 $1,435,000 $205,000 $3,524 3.64%
    Asian 3 $1,335,000 $445,000 $6,308 3.46%

    Approval Rates

    Total approvals of all applications
    88.46%

    Spiritbank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.53%

    Spiritbank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 334 $61,480,000 $184,072

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $7,015,000 $779,444
    Single Family (1-4 Units):Manufactured 2 $160,000 $80,000
    Single Family (1-4 Units):Site-Built 323 $54,305,000 $168,127

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $1,650,000 $165,000 $2,554 4.52%
    40-60% 18 $3,710,000 $206,111 $4,193 4.21%
    60-80% 64 $15,880,000 $248,125 $3,688 3.58%
    80-100% 227 $38,315,000 $168,789 $4,117 4.65%
    Over 100% 3 $1,045,000 $348,333 $16,319 3.63%
    Under 20% 11 $775,000 $70,455 $1,200 5.09%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Shapiro, DiCaro & Barak, LLC FHA mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Spiritbank 106 N Main Bristow, OK 74010 Full Service B&M $89,785
    Spiritbank 1315 East Taft Sapulpa, OK 74066 Full Service B&M $73,102
    Spiritbank 1800 S. Baltimore Tulsa, OK 74119 Full Service B&M $209,660
    Spiritbank 3800 West 71st Street South Tulsa, OK 74132 Full Service B&M $6,921
    Spiritbank 4815 South Harvard, Suite 100 Tulsa, OK 74135 Full Service B&M $129,008
    Spiritbank 9618 South Memorial Tulsa, OK 74133 Full Service B&M $67,591

    For 2020, Spiritbank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,815
    Net interest income $24,855
    Total noninterest income $3,924
    Gross Fiduciary activities income $20
    Service charges on deposit accounts $722
    Trading account gains and fees $0
    Additional Noninterest Income $3,182
    Pre-tax net operating income $8,784
    Securities gains (or losses, -) $111
    Income before extraordinary items $8,580
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,580
    Minority interest net income $0
    Net income $8,580
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,473

    Spiritbank's gross interest income from loans was $30,815,000.
    Spiritbank's net interest income from loans was $24,855,000.
    Spiritbank's fee based income from loans was $722,000.
    Spiritbank's net income from loans was $8,580,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,960
    Provision for credit losses $750
    Total noninterest expense $19,245
    Salaries and employee benefits $12,253
    Premises and equipment expense $2,066
    Additional noninterest expense $4,926
    Applicable income taxes $315
    Net charge-offs $-537
    Cash dividends $9,000

    Spiritbank's interest expense for loans was $5,960,000.
    Spiritbank's payroll and benefits expense were $12,253,000.
    Spiritbank's property, plant and equipment expenses $2,066,000.

    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 3.0%
    HELOC loans 0.0%
    All other family 3.0%
    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 $602,123
    Deposits held in domestic offices $602,123
    Deposits by Individuals, partnerships, and corporations $502,714
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,306
    Deposits by Commercial banks and other depository institutions in U.S. $64,104
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $62,577
    Demand deposits $28,161
    Nontransaction accounts $539,547
    Money market deposit accounts (MMDAs) $38,545
    Other savings deposits (excluding MMDAs) $251,289
    Total time deposits $249,713
    Total time and savings deposits $573,963
    Noninterest-bearing deposits $162,261
    Interest-bearing deposits $439,862
    Retail deposits $467,985
    IRAs and Keogh plan accounts $3,402
    Brokered deposits $81,747
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $712,789
    Cash & Balances due from depository institutions $50,082
    Interest-bearing balances $40,625
    Total securities $38,691
    Federal funds sold & reverse repurchase $468
    Net loans and leases $591,698
    Loan and leases loss allowance $7,423
    Trading account assets $0
    Bank premises and fixed assets $10,343
    Other real estate owned $2,101
    Goodwill and other intangibles $814
    All other assets $18,592

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $712,789
    Total Liabilities $638,125
    Total deposits $602,123
    Interest-bearing deposits $439,862
    Deposits held in domestic offices $602,123
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $31,645
    Subordinated debt $0
    All other liabilities $4,357

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $591,698
    Loan and leases loss allowance $7,423
    Total loans and leases (domestic) $599,121
    All real estate loans $425,732
    Real estate loans in domestic offices $425,732
    Construction and development loans $71,191
    Residential 1-4 family construction $20,300
    Other construction, all land development and other land $50,891
    Loans secured by nonfarm nonresidential properties $256,815
    Nonfarm nonresidential secured by owner-occupied properties $80,207
    Commercial real estate & other non-farm, non-residential $176,608
    Multifamily residential real estate $21,601
    1-4 family residential loans $73,775
    Farmland loans $2,350
    Loans held in foreign offices $0
    Farm loans $34
    Commercial and industrial loans $151,890
    To non-U.S. addressees $0
    Loans to individuals $13,832
    Credit card loans $0
    Related Plans $18
    Consumer Auto Loans $3,624
    Other loans to individuals $10,190
    All other loans & leases $7,633
    Loans to foreign governments and official institutions $0
    Other loans $7,633
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $7,503
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $7,013
    Non 1-4 family restructured loans & leases $7,013
    Total loans and leases (foreign) $0

    SpiritBank had $591,698,000 of loans outstanding in 2020. $425,732,000 of loans were in real estate loans. $71,191,000 of loans were in development loans. $21,601,000 of loans were in multifamily mortgage loans. $73,775,000 of loans were in 1-4 family mortgage loans. $34,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,624,000 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 93 $25,693 $276,269
    Nonfarm, nonresidential loans - <$100k 15 $685 $45,667
    Nonfarm, nonresidential loans - $100-250k 24 $5,802 $241,750
    Nonfarm, nonresidential loans - $250k-1MM 54 $19,206 $355,667
    Commercial & Industrial, US addressed loans - <$1MM 599 $49,396 $82,464
    Commercial & Industrial, US addressed loans - <$100k 397 $9,623 $24,239
    Commercial & Industrial, US addressed loans - $100-250k 115 $13,878 $120,678
    Commercial & Industrial, US addressed loans - $250k-1MM 87 $25,895 $297,644
    Farmland loans - <$1MM 12 $925 $77,083
    Farmland loans - <$100k 6 $308 $51,333
    Farmland loans - $100-250k 5 $355 $71,000
    Farmland loans - $250k-1MM 1 $262 $262,000
    Agriculture operations loans - <$1MM 2 $34 $17,000
    Agriculture operations loans - <$100k 2 $34 $17,000