Southern Bancorp Bank Mortgage Rates, Fees & Info
Arkadelphia, ARLEI: 549300JQEF6V2RNWCC75
Tax ID: 71-0051510
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Mortgage Data
Bank Data
Review & Overview
Southern Bancorp Bank is a smaller bank specializing in Refi and Home Purchase loans. Southern Bancorp Bank has a high proportion of conventional loans. Their top markets by origination volume include: Hot Springs, Jonesboro, Arkadelphia, El Dorado, and Malvern among others. We have data for 34 markets. (Some data included below & more in-depth data is available with an active subscription.)Southern Bancorp 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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.20% | 11/22/24 |
| 30 Year Conventional Refi | 6.27% | 11/22/24 |
| 30 Year FHA Purchase | 7.38% | 11/22/24 |
| 30 Year VA Purchase | 6.27% | 11/22/24 |
| 30 Year USDA Purchase | 7.45% | 11/22/24 |
| 15 Year Conventional Purchase | 6.35% | 11/22/24 |
| 15 Year Conventional Refi | 6.03% | 11/22/24 |
| 15 Year Cash-out Refi | 6.03% | 11/22/24 |
| 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. | ||
Southern Bancorp Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
718Origination Dollar Volume (All Markets)
$73,370,000Employee count
349Top 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 |
|---|---|---|---|---|---|
| HOT SPRINGS, AR (FHA|USDA|VA) | 87 | $12,435,000 | $142,931 | $1,371 | 5.37% |
| JONESBORO, AR (FHA|USDA|VA) | 91 | $6,705,000 | $73,681 | $959 | 5.94% |
| Arkadelphia, AR (FHA|USDA|VA) | 74 | $6,030,000 | $81,486 | $723 | 5.93% |
| El Dorado, AR (FHA|USDA|VA) | 63 | $5,775,000 | $91,667 | $730 | 5.74% |
| Malvern, AR (FHA|USDA|VA) | 60 | $5,520,000 | $92,000 | $1,245 | 5.98% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 28 | $4,930,000 | $176,071 | $1,680 | 5.97% |
| JACKSON, MS (FHA|USDA|VA) | 20 | $4,550,000 | $227,500 | $1,774 | 5.66% |
| Outside of Metro Areas | 46 | $3,910,000 | $85,000 | $1,200 | 6.45% |
| Blytheville, AR (FHA|USDA|VA) | 60 | $3,880,000 | $64,667 | $982 | 5.95% |
| Indianola, MS (FHA|USDA|VA) | 61 | $2,915,000 | $47,787 | $861 | 6.66% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 4 | $2,570,000 | $642,500 | $0 | 5.36% |
| Helena-West Helena, AR (FHA|USDA|VA) | 33 | $2,465,000 | $74,697 | $998 | 6.23% |
| Greenville, MS (FHA|USDA|VA) | 20 | $2,450,000 | $122,500 | $864 | 6.07% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $1,995,000 | $1,995,000 | $0 | 5.25% |
| Clarksdale, MS (FHA|USDA|VA) | 20 | $1,430,000 | $71,500 | $838 | 6.02% |
| Cleveland, MS (FHA|USDA|VA) | 12 | $1,260,000 | $105,000 | $1,015 | 6.43% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 7 | $925,000 | $132,143 | $164 | 5.79% |
| Columbus, MS (FHA|USDA|VA) | 1 | $895,000 | $895,000 | $0 | 6.50% |
| Picayune, MS (FHA|USDA|VA) | 5 | $535,000 | $107,000 | $1,192 | 6.45% |
| PINE BLUFF, AR (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $525 | 5.79% |
| Camden, AR (FHA|USDA|VA) | 5 | $315,000 | $63,000 | $763 | 5.47% |
| JACKSON, TN (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,544 | 5.25% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 4 | $220,000 | $55,000 | $666 | 6.38% |
| MONROE, LA (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $700 | 5.95% |
| Hope, AR (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $475 | 5.25% |
| Russellville, AR (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 6.50% |
| Paragould, AR (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $539 | 5.75% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.25% |
| Mountain Home, AR (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $1,077 | 7.25% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 5.75% |
| Grenada, MS (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 6.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $314 | 6.75% |
| Greenwood, MS (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 6.25% |
| Oxford, MS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,014 | 6.55% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 718 | $73,370,000 | $102,187 | $1,021 | 5.97% |
For 2018, Southern Bancorp Bank's most frequently originated type of loan was Conventional, with 718 originations.
Loan Reason
For 2018, Southern Bancorp Bank's most frequently cited loan purpose was Refi, with 428 originations. The 2nd most popular reason was Home Purchase, with 255 originations.
Loan Duration/Length
For 2018, Southern Bancorp Bank's most frequently cited loan duration was Other, with 250 originations. The 2nd most popular length was 5 Year, with 196 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 351 | $31,955,000 | $91,040 |
| $1k-2k | 10 | $1,560,000 | $156,000 |
| $2k-3k | 4 | $1,200,000 | $300,000 |
| $4k-5k | 2 | $810,000 | $405,000 |
Southern Bancorp Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 351 originations.
Interest Rates
During 2018, Southern Bancorp Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 389 originations.
Loan Sizing
2018 saw Southern Bancorp Bank place emphasis on $100,000 or less loans with 516 originations, totaling $23,870,000 in origination value.
Applicant Income
Southern Bancorp Bank lent most frequently to those with incomes in the $50k or less range, with 166 originations. The second most popular income band? $50k-75k, with 143 originations.
Applicant Debt to Income Ratio
Southern Bancorp Bank lent most frequently to those with DTI ratios of 20-30%, with 105 originations. The next most common DTI ratio? 30-36%, with 100 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.44%
Southern Bancorp Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.16%
Southern Bancorp Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 100.0 | 2 | $50,000 | $25,000 |
| 80.0 | 1 | $15,000 | $15,000 |
| 93.0 | 1 | $25,000 | $25,000 |
| 94.0 | 1 | $15,000 | $15,000 |
| NA | 713 | $73,265,000 | $102,756 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Southern Star Capital, L.L.C. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Southern Bancorp Bank | 1012 South Division Street Blytheville, AR 72315 | Limited, Drive-thru | $7,062 |
| Southern Bancorp Bank | 104 Main Street Sledge, MS 38670 | Full Service B&M | $3,989 |
| Southern Bancorp Bank | 1040 East Main Street Blytheville, AR 72315 | Limited, Drive-thru | $17,000 |
| Southern Bancorp Bank | 108 North Main Street Drew, MS 38737 | Full Service B&M | $4,525 |
| Southern Bancorp Bank | 117 West Floyce Street Ruleville, MS 38771 | Full Service B&M | $14,260 |
| Southern Bancorp Bank | 120 South Second Street Blytheville, AR 72315 | Full Service B&M | $71,676 |
| Southern Bancorp Bank | 128 Main Street Elaine, AR 72333 | Full Service B&M | $7,635 |
| Southern Bancorp Bank | 1615 West Hillsboro El Dorado, AR 71730 | Full Service B&M | $12,320 |
| Southern Bancorp Bank | 1868 Martin Luther King Jr., Boulevard South Greenville, MS 38701 | Full Service B&M | $15,155 |
| Southern Bancorp Bank | 1888 Main Street Crossing, Suite D Madison, MS 39110 | Full Service B&M | $4,318 |
| Southern Bancorp Bank | 2058 Us Highway 49 East Webb, MS 38966 | Full Service B&M | $14,939 |
| Southern Bancorp Bank | 206 Airport Rd Hot Springs, AR 71913 | Full Service B&M | $5,286 |
| Southern Bancorp Bank | 208 Ash Street Malvern, AR 72104 | Full Service B&M | $29,591 |
| Southern Bancorp Bank | 210 North Main Hamburg, AR 71646 | Full Service B&M | $35,111 |
| Southern Bancorp Bank | 215 South Broadway Greenville, MS 38701 | Full Service B&M | $2,504 |
| Southern Bancorp Bank | 2212 Malvern Avenue, Suite 1 Hot Springs, AR 71901 | Full Service B&M | $3,691 |
| Southern Bancorp Bank | 2421 North West Avenue El Dorado, AR 71730 | Full Service B&M | $79,486 |
| Southern Bancorp Bank | 2500 Pine St Arkadelphia, AR 71923 | Full Service B&M | $45,632 |
| Southern Bancorp Bank | 2943 S Highway 65 Eudora, AR 71640 | Full Service B&M | $9,307 |
| Southern Bancorp Bank | 2nd And Forest Street Shelby, MS 38774 | Full Service B&M | $15,773 |
| Southern Bancorp Bank | 319 North Baltimore Manila, AR 72442 | Full Service B&M | $18,530 |
| Southern Bancorp Bank | 323 Hwy 82 East Leland, MS 38756 | Full Service B&M | $4,075 |
| Southern Bancorp Bank | 326 Highway 463 North Trumann, AR 72472 | Full Service B&M | $86,891 |
| Southern Bancorp Bank | 403 Highway 18 South Manila, AR 72442 | Limited, Drive-thru | $5,890 |
| Southern Bancorp Bank | 4138 Central Avenue Hot Springs, AR 71913 | Full Service B&M | $25,936 |
| Southern Bancorp Bank | 425 East Plaza Street West Helena, AR 72390 | Full Service B&M | $90,794 |
| Southern Bancorp Bank | 432 N Sebastian West Helena, AR 72390 | Full Service B&M | $35,960 |
| Southern Bancorp Bank | 502 Cherry Street Helena, AR 72342 | Full Service B&M | $25,455 |
| Southern Bancorp Bank | 502 East Main Street Gurdon, AR 71743 | Full Service B&M | $5,307 |
| Southern Bancorp Bank | 507 Highway 82 East Indianola, MS 38751 | Full Service B&M | $12,883 |
| Southern Bancorp Bank | 574 Second Street Friars Point, MS 38631 | Full Service B&M | $1,068 |
| Southern Bancorp Bank | 599 Airbase Highway Blytheville, AR 72315 | Limited, Drive-thru | $3,291 |
| Southern Bancorp Bank | 601 Main Street Arkadelphia, AR 71923 | Full Service B&M | $130,758 |
| Southern Bancorp Bank | 6140 Hwy 49 Barton, AR 72312 | Full Service B&M | $7,780 |
| Southern Bancorp Bank | 6764 Arkansas 7 Bismarck, AR 71929 | Full Service B&M | $22,563 |
| Southern Bancorp Bank | 807 North 6th Street Blytheville, AR 72315 | Limited, Drive-thru | $38,545 |
| Southern Bancorp Bank | 815 Darby Avenue Lambert, MS 38643 | Full Service B&M | $3,173 |
| Southern Bancorp Bank | 875 South State Street Clarksdale, MS 38614 | Full Service B&M | $21,726 |
| Southern Bancorp Bank | 8924 Kanis Road Little Rock, AR 72205 | Limited, Drive-thru | $0 |
| Southern Bancorp Bank | 9 Lakeshore Drive Carriere, MS 39426 | Full Service B&M | $4,104 |
| Southern Bancorp Bank | 911 Highway 49 Marvell, AR 72366 | Full Service B&M | $10,231 |
| Southern Bancorp Bank | 970 Byhalia Road Hernando, MS 38632 | Full Service B&M | $17,841 |
| Southern Bancorp Bank | Front Street Lula, MS 38644 | Full Service B&M | $7,811 |
| Southern Bancorp Bank | U. S. Highway 61 Mound Bayou, MS 38762 | Limited, Drive-thru | $0 |
For 2018, Southern Bancorp Bank had 44 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $52,910 |
| Net interest income | $46,628 |
| Total noninterest income | $9,567 |
| Gross Fiduciary activities income | $80 |
| Service charges on deposit accounts | $5,595 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,892 |
| Pre-tax net operating income | $15,210 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $12,760 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $12,760 |
| Minority interest net income | $0 |
| Net income | $12,760 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $12,760 |
Southern Bancorp Bank's gross interest income from loans was $52,910,000.
Southern Bancorp Bank's net interest income from loans was $46,628,000.
Southern Bancorp Bank's fee based income from loans was $5,595,000.
Southern Bancorp Bank's net income from loans was $12,760,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,282 |
| Provision for credit losses | $4,310 |
| Total noninterest expense | $36,675 |
| Salaries and employee benefits | $18,429 |
| Premises and equipment expense | $5,074 |
| Additional noninterest expense | $13,172 |
| Applicable income taxes | $2,450 |
| Net charge-offs | $3,176 |
| Cash dividends | $0 |
Southern Bancorp Bank's interest expense for loans was $6,282,000.
Southern Bancorp Bank's payroll and benefits expense were $18,429,000.
Southern Bancorp Bank's property, plant and equipment expenses $5,074,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 2.0% |
| 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 | 1.0% |
| Personal loans | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,140,295 |
| Deposits held in domestic offices | $1,140,295 |
| Deposits by Individuals, partnerships, and corporations | $917,494 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $222,552 |
| Deposits by Commercial banks and other depository institutions in U.S. | $250 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $112,033 |
| Demand deposits | $52,646 |
| Nontransaction accounts | $1,028,263 |
| Money market deposit accounts (MMDAs) | $107,569 |
| Other savings deposits (excluding MMDAs) | $611,939 |
| Total time deposits | $308,755 |
| Total time and savings deposits | $1,087,650 |
| Noninterest-bearing deposits | $52,646 |
| Interest-bearing deposits | $1,087,649 |
| Retail deposits | $1,030,323 |
| IRAs and Keogh plan accounts | $37,033 |
| Brokered deposits | $63,884 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,387,751 |
| Cash & Balances due from depository institutions | $122,776 |
| Interest-bearing balances | $88,971 |
| Total securities | $184,584 |
| Federal funds sold & reverse repurchase | $1 |
| Net loans and leases | $948,375 |
| Loan and leases loss allowance | $11,156 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $39,731 |
| Other real estate owned | $3,836 |
| Goodwill and other intangibles | $37,409 |
| All other assets | $51,039 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,387,751 |
| Total Liabilities | $1,235,374 |
| Total deposits | $1,140,295 |
| Interest-bearing deposits | $1,087,649 |
| Deposits held in domestic offices | $1,140,295 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $34,600 |
| Trading liabilities | $0 |
| Other borrowed funds | $52,269 |
| Subordinated debt | $0 |
| All other liabilities | $8,210 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $948,375 |
| Loan and leases loss allowance | $11,156 |
| Total loans and leases (domestic) | $959,531 |
| All real estate loans | $735,593 |
| Real estate loans in domestic offices | $735,593 |
| Construction and development loans | $69,514 |
| Residential 1-4 family construction | $23,431 |
| Other construction, all land development and other land | $46,083 |
| Loans secured by nonfarm nonresidential properties | $234,694 |
| Nonfarm nonresidential secured by owner-occupied properties | $134,763 |
| Commercial real estate & other non-farm, non-residential | $99,931 |
| Multifamily residential real estate | $41,490 |
| 1-4 family residential loans | $266,631 |
| Farmland loans | $123,264 |
| Loans held in foreign offices | $0 |
| Farm loans | $47,690 |
| Commercial and industrial loans | $123,250 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $37,371 |
| Credit card loans | $0 |
| Related Plans | $1,222 |
| Consumer Auto Loans | $8,937 |
| Other loans to individuals | $27,212 |
| All other loans & leases | $15,627 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $552 |
| 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 | $4,703 |
| Non 1-4 family restructured loans & leases | $3,909 |
| Total loans and leases (foreign) | $0 |
Southern Bancorp Bank had $948,375,000 of loans outstanding in 2018. $735,593,000 of loans were in real estate loans. $69,514,000 of loans were in development loans. $41,490,000 of loans were in multifamily mortgage loans. $266,631,000 of loans were in 1-4 family mortgage loans. $47,690,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,937,000 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 | 711 | $115,442 | $162,366 |
| Nonfarm, nonresidential loans - <$100k | 269 | $9,850 | $36,617 |
| Nonfarm, nonresidential loans - $100-250k | 248 | $29,374 | $118,444 |
| Nonfarm, nonresidential loans - $250k-1MM | 194 | $76,218 | $392,876 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,152 | $70,136 | $60,882 |
| Commercial & Industrial, US addressed loans - <$100k | 856 | $20,830 | $24,334 |
| Commercial & Industrial, US addressed loans - $100-250k | 203 | $20,677 | $101,857 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 93 | $28,629 | $307,839 |
| Farmland loans - <$1MM | 249 | $27,733 | $111,378 |
| Farmland loans - <$100k | 129 | $5,532 | $42,884 |
| Farmland loans - $100-250k | 77 | $10,188 | $132,312 |
| Farmland loans - $250k-1MM | 43 | $12,013 | $279,372 |
| Agriculture operations loans - <$1MM | 325 | $20,036 | $61,649 |
| Agriculture operations loans - <$100k | 223 | $5,768 | $25,865 |
| Agriculture operations loans - $100-250k | 59 | $5,927 | $100,458 |
| Agriculture operations loans - $250k-1MM | 43 | $8,341 | $193,977 |