Sooner State Bank Mortgage Rates, Fees & Info

Tuttle, OK

LEI: 549300K3182R4M8RRD37

Tax ID: 73-0138590

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Sooner State Bank is a smaller bank specializing in Home Purchase loans. Sooner State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Weatherford, and Shawnee among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sooner State Bank has an above average approval rate when compared to the average across all lenders. They have an above 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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    Originations

    118

    Origination Dollar Volume (All Markets)

    $13,710,000

    Employee count

    69

    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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 112 $12,100,000 $108,036 $0 0.00%
    Outside of Metro Areas 3 $815,000 $271,667 $0 0.00%
    Weatherford, OK (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Shawnee, OK (FHA|USDA|VA) 2 $390,000 $195,000 $0 0.00%
    Sooner State Bank's top markets include Oklahoma City, Weatherford, and Shawnee among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 118 $13,710,000 $116,186 $0 0.00%

    For 2019, Sooner State Bank's most frequently originated type of loan was Conventional, with 118 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 89 $11,285,000 $126,798 $0 0.00%
    Refi 26 $2,300,000 $88,462 $0 0.00%
    Home Improvement 2 $90,000 $45,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    For 2019, Sooner State Bank's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 118 $13,710,000 $116,186 $0 0.00%

    For 2019, Sooner State Bank's most frequently cited loan duration was Other, with 118 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 62 $3,290,000 $53,065 $0 0.00%
    $100k-200k 37 $4,785,000 $129,324 $0 0.00%
    $200k-400k 17 $4,595,000 $270,294 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%
    $600k-1MM 1 $635,000 $635,000 $0 0.00%

    2019 saw Sooner State Bank place emphasis on $100,000 or less loans with 62 originations, totaling $3,290,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 7 $1,675,000 $239,286 $0 0.00%
    $150k-250k 6 $730,000 $121,667 $0 0.00%
    $50k-75k 6 $450,000 $75,000 $0 0.00%
    $50k or less 6 $260,000 $43,333 $0 0.00%
    $100k-150k 5 $645,000 $129,000 $0 0.00%
    $75k-100k 3 $135,000 $45,000 $0 0.00%

    Sooner State Bank lent most frequently to those with incomes in the $250k+ range, with 7 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 118 $13,710,000 $116,186 $0 0.00%

    Sooner State Bank lent most frequently to those with DTI ratios of Exempt%, with 118 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 85 $9,815,000 $115,471 $0 0.00%
    White 27 $3,395,000 $125,741 $0 0.00%
    American Indian 4 $460,000 $115,000 $0 0.00%
    Black 2 $40,000 $20,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.19%

    Sooner State 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
    96.61%

    Sooner State Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 118 $13,710,000 $116,186

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $540,000 $270,000
    Single Family (1-4 Units):Manufactured 1 $95,000 $95,000
    Single Family (1-4 Units):Site-Built 115 $13,075,000 $113,696

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SYNERGY ONE LENDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 37.5%
    SYNERGY ONE LENDING, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    SYNERGY ONE LENDING, INC. FHA mortgage Closing on a mortgage 3 37.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sooner State Bank 10301 North May Avenue The Village, OK 73120 Full Service B&M $30,352
    Sooner State Bank 2 Southeast Fourth Tuttle, OK 73089 Full Service B&M $78,867
    Sooner State Bank 420 Northwest 32nd Newcastle, OK 73065 Full Service B&M $26,673
    Sooner State Bank Broadway And First Street Konawa, OK 74849 Full Service B&M $19,896
    Sooner State Bank Second And Wright Streets Newcastle, OK 73065 Full Service B&M $28,017

    For 2019, Sooner State Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,795
    Net interest income $9,264
    Total noninterest income $1,619
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $428
    Trading account gains and fees $0
    Additional Noninterest Income $1,191
    Pre-tax net operating income $3,937
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,937
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,937
    Minority interest net income $0
    Net income $3,937
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,937

    Sooner State Bank's gross interest income from loans was $10,795,000.
    Sooner State Bank's net interest income from loans was $9,264,000.
    Sooner State Bank's fee based income from loans was $428,000.
    Sooner State Bank's net income from loans was $3,937,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,531
    Provision for credit losses $125
    Total noninterest expense $6,821
    Salaries and employee benefits $3,335
    Premises and equipment expense $650
    Additional noninterest expense $2,836
    Applicable income taxes $0
    Net charge-offs $51
    Cash dividends $2,058

    Sooner State Bank's interest expense for loans was $1,531,000.
    Sooner State Bank's payroll and benefits expense were $3,335,000.
    Sooner State Bank's property, plant and equipment expenses $650,000.

    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 2.0%
    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 $232,193
    Deposits held in domestic offices $232,193
    Deposits by Individuals, partnerships, and corporations $208,885
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $23,300
    Deposits by Commercial banks and other depository institutions in U.S. $8
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $117,483
    Demand deposits $68,083
    Nontransaction accounts $114,710
    Money market deposit accounts (MMDAs) $44,328
    Other savings deposits (excluding MMDAs) $24,948
    Total time deposits $45,434
    Total time and savings deposits $164,110
    Noninterest-bearing deposits $67,159
    Interest-bearing deposits $165,034
    Retail deposits $222,036
    IRAs and Keogh plan accounts $6,261
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $261,000
    Cash & Balances due from depository institutions $5,940
    Interest-bearing balances $475
    Total securities $48,855
    Federal funds sold & reverse repurchase $24,489
    Net loans and leases $167,609
    Loan and leases loss allowance $1,506
    Trading account assets $0
    Bank premises and fixed assets $5,369
    Other real estate owned $0
    Goodwill and other intangibles $1,295
    All other assets $7,443

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $261,000
    Total Liabilities $234,206
    Total deposits $232,193
    Interest-bearing deposits $165,034
    Deposits held in domestic offices $232,193
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,013

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $167,609
    Loan and leases loss allowance $1,506
    Total loans and leases (domestic) $169,115
    All real estate loans $147,108
    Real estate loans in domestic offices $147,108
    Construction and development loans $38,622
    Residential 1-4 family construction $18,539
    Other construction, all land development and other land $20,083
    Loans secured by nonfarm nonresidential properties $47,269
    Nonfarm nonresidential secured by owner-occupied properties $19,476
    Commercial real estate & other non-farm, non-residential $27,793
    Multifamily residential real estate $4,135
    1-4 family residential loans $55,827
    Farmland loans $1,255
    Loans held in foreign offices $0
    Farm loans $775
    Commercial and industrial loans $8,461
    To non-U.S. addressees $0
    Loans to individuals $5,380
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,561
    Other loans to individuals $2,819
    All other loans & leases $7,391
    Loans to foreign governments and official institutions $0
    Other loans $54
    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

    Sooner State Bank had $167,609,000 of loans outstanding in 2019. $147,108,000 of loans were in real estate loans. $38,622,000 of loans were in development loans. $4,135,000 of loans were in multifamily mortgage loans. $55,827,000 of loans were in 1-4 family mortgage loans. $775,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,561,000 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 140 $28,233 $201,664
    Nonfarm, nonresidential loans - <$100k 34 $1,575 $46,324
    Nonfarm, nonresidential loans - $100-250k 46 $6,357 $138,196
    Nonfarm, nonresidential loans - $250k-1MM 60 $20,301 $338,350
    Commercial & Industrial, US addressed loans - <$1MM 149 $5,518 $37,034
    Commercial & Industrial, US addressed loans - <$100k 132 $2,887 $21,871
    Commercial & Industrial, US addressed loans - $100-250k 10 $1,082 $108,200
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $1,549 $221,286
    Farmland loans - <$1MM 14 $1,255 $89,643
    Farmland loans - <$100k 8 $187 $23,375
    Farmland loans - $100-250k 4 $609 $152,250
    Farmland loans - $250k-1MM 2 $459 $229,500
    Agriculture operations loans - <$1MM 33 $775 $23,485
    Agriculture operations loans - <$100k 31 $467 $15,065
    Agriculture operations loans - $100-250k 2 $308 $154,000