Crossroads Bank Mortgage Rates, Fees & Info

Yoakum, TX

LEI: 549300JPWAKLM047FK81

Tax ID: 74-0625605

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Mortgage Data

Bank Data

Review & Overview

Crossroads Bank is a smaller bank specializing in Home Purchase loans. Crossroads Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kerrville, Victoria, Rockport, Port Lavaca, and Brenham among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Crossroads Bank 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.

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Originations

87

Origination Dollar Volume (All Markets)

$11,095,000

Employee count

45

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
Outside of Metro Areas 70 $7,930,000 $113,286 $0 0.00%
Kerrville, TX (FHA|USDA|VA) 2 $1,120,000 $560,000 $0 0.00%
VICTORIA, TX (FHA|USDA|VA) 10 $1,030,000 $103,000 $0 0.00%
Rockport, TX (FHA|USDA|VA) 2 $570,000 $285,000 $0 0.00%
Port Lavaca, TX (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Brenham, TX (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Crossroads Bank's top markets include Kerrville, Victoria, Rockport, Port Lavaca, and Brenham among others.

Their top states include:
  • Texas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 87 $11,095,000 $127,529 $0 0.00%

    For 2020, Crossroads Bank's most frequently originated type of loan was Conventional, with 87 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 62 $9,160,000 $147,742 $0 0.00%
    Refi 10 $1,000,000 $100,000 $0 0.00%
    Home Improvement 8 $460,000 $57,500 $0 0.00%
    Other 7 $475,000 $67,857 $0 0.00%

    For 2020, Crossroads Bank's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 87 $11,095,000 $127,529 $0 0.00%

    For 2020, Crossroads Bank's most frequently cited loan duration was Other, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 50 $2,960,000 $59,200 $0 0.00%
    $100k-200k 21 $2,855,000 $135,952 $0 0.00%
    $200k-400k 12 $3,170,000 $264,167 $0 0.00%
    $400k-600k 3 $1,345,000 $448,333 $0 0.00%
    $600k-1MM 1 $765,000 $765,000 $0 0.00%

    2020 saw Crossroads Bank place emphasis on $100,000 or less loans with 50 originations, totaling $2,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 25 $2,095,000 $83,800 $0 0.00%
    $50k or less 21 $1,615,000 $76,905 $0 0.00%
    $75k-100k 15 $1,915,000 $127,667 $0 0.00%
    $100k-150k 14 $3,010,000 $215,000 $0 0.00%
    $250k+ 5 $1,815,000 $363,000 $0 0.00%
    $150k-250k 3 $385,000 $128,333 $0 0.00%

    Crossroads Bank lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $50k or less, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 87 $11,095,000 $127,529 $0 0.00%

    Crossroads Bank lent most frequently to those with DTI ratios of Exempt%, with 87 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $10,130,000 $126,625 $0 0.00%
    American Indian 2 $600,000 $300,000 $0 0.00%
    Not applicable 4 $260,000 $65,000 $0 0.00%
    Black 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.23%

    Crossroads Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    82.76%

    Crossroads Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 87 $11,095,000 $127,529

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 13 $895,000 $68,846
    Single Family (1-4 Units):Site-Built 74 $10,200,000 $137,838

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CHERRY CREEK MORTGAGE COMPANY INC. Conventional home mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Crossroads Bank 201 N.Lavaca Street Moulton, TX 77975 Full Service B&M $31,342
    Crossroads Bank 406 West Grand Avenue Yoakum, TX 77995 Full Service B&M $168,876
    Crossroads Bank 4611 East Airline Road Suite 100 Victoria, TX 77904 Full Service B&M $22,371

    For 2020, Crossroads Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,028
    Net interest income $8,555
    Total noninterest income $1,393
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $744
    Trading account gains and fees $0
    Additional Noninterest Income $649
    Pre-tax net operating income $4,421
    Securities gains (or losses, -) $3
    Income before extraordinary items $4,424
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,424
    Minority interest net income $0
    Net income $4,424
    Sale, conversion, retirement of capital stock, net $14
    Net operating income $4,421

    Crossroads Bank's gross interest income from loans was $10,028,000.
    Crossroads Bank's net interest income from loans was $8,555,000.
    Crossroads Bank's fee based income from loans was $744,000.
    Crossroads Bank's net income from loans was $4,424,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,473
    Provision for credit losses $150
    Total noninterest expense $5,377
    Salaries and employee benefits $3,253
    Premises and equipment expense $531
    Additional noninterest expense $1,593
    Applicable income taxes $0
    Net charge-offs $48
    Cash dividends $2,374

    Crossroads Bank's interest expense for loans was $1,473,000.
    Crossroads Bank's payroll and benefits expense were $3,253,000.
    Crossroads Bank's property, plant and equipment expenses $531,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $252,694
    Deposits held in domestic offices $252,694
    Deposits by Individuals, partnerships, and corporations $225,471
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $27,222
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $104,473
    Demand deposits $50,176
    Nontransaction accounts $148,220
    Money market deposit accounts (MMDAs) $40,592
    Other savings deposits (excluding MMDAs) $24,715
    Total time deposits $82,913
    Total time and savings deposits $202,517
    Noninterest-bearing deposits $50,178
    Interest-bearing deposits $202,516
    Retail deposits $219,705
    IRAs and Keogh plan accounts $7,475
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $283,982
    Cash & Balances due from depository institutions $27,772
    Interest-bearing balances $21,828
    Total securities $114,081
    Federal funds sold & reverse repurchase $0
    Net loans and leases $133,281
    Loan and leases loss allowance $1,586
    Trading account assets $0
    Bank premises and fixed assets $1,934
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,914

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $283,982
    Total Liabilities $254,325
    Total deposits $252,694
    Interest-bearing deposits $202,516
    Deposits held in domestic offices $252,694
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,631

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $133,281
    Loan and leases loss allowance $1,586
    Total loans and leases (domestic) $134,867
    All real estate loans $84,971
    Real estate loans in domestic offices $84,971
    Construction and development loans $3,469
    Residential 1-4 family construction $2,545
    Other construction, all land development and other land $924
    Loans secured by nonfarm nonresidential properties $26,577
    Nonfarm nonresidential secured by owner-occupied properties $20,842
    Commercial real estate & other non-farm, non-residential $5,735
    Multifamily residential real estate $181
    1-4 family residential loans $53,662
    Farmland loans $1,082
    Loans held in foreign offices $0
    Farm loans $3,130
    Commercial and industrial loans $30,718
    To non-U.S. addressees $0
    Loans to individuals $15,266
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $5,941
    Other loans to individuals $9,325
    All other loans & leases $850
    Loans to foreign governments and official institutions $0
    Other loans $385
    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

    Crossroads Bank had $133,281,000 of loans outstanding in 2020. $84,971,000 of loans were in real estate loans. $3,469,000 of loans were in development loans. $181,000 of loans were in multifamily mortgage loans. $53,662,000 of loans were in 1-4 family mortgage loans. $3,130,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,941,000 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 112 $13,959 $124,634
    Nonfarm, nonresidential loans - <$100k 62 $2,771 $44,694
    Nonfarm, nonresidential loans - $100-250k 29 $3,941 $135,897
    Nonfarm, nonresidential loans - $250k-1MM 21 $7,247 $345,095
    Commercial & Industrial, US addressed loans - <$1MM 341 $18,012 $52,821
    Commercial & Industrial, US addressed loans - <$100k 276 $6,396 $23,174
    Commercial & Industrial, US addressed loans - $100-250k 44 $5,309 $120,659
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $6,307 $300,333
    Farmland loans - <$1MM 14 $1,082 $77,286
    Farmland loans - <$100k 8 $171 $21,375
    Farmland loans - $100-250k 4 $390 $97,500
    Farmland loans - $250k-1MM 2 $521 $260,500
    Agriculture operations loans - <$1MM 139 $3,129 $22,511
    Agriculture operations loans - <$100k 129 $2,209 $17,124
    Agriculture operations loans - $100-250k 10 $920 $92,000