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 and Refi loans. Sooner State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Tulsa, Shawnee, Fort Smith, and Mcalester among others. We have data for 6 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

    187

    Origination Dollar Volume (All Markets)

    $27,645,000

    Employee count

    70

    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) 175 $25,595,000 $146,257 $0 0.00%
    TULSA, OK (FHA|USDA|VA) 2 $1,030,000 $515,000 $0 0.00%
    Shawnee, OK (FHA|USDA|VA) 4 $410,000 $102,500 $0 0.00%
    Outside of Metro Areas 4 $320,000 $80,000 $0 0.00%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    McAlester, OK (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Sooner State Bank's top markets include Oklahoma City, Tulsa, Shawnee, Fort Smith, and Mcalester among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 187 $27,645,000 $147,834 $0 0.00%

    For 2020, Sooner State Bank's most frequently originated type of loan was Conventional, with 187 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $16,515,000 $134,268 $0 0.00%
    Refi 52 $10,420,000 $200,385 $0 0.00%
    Home Improvement 11 $685,000 $62,273 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2020, Sooner State Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 187 $27,645,000 $147,834 $0 0.00%

    For 2020, Sooner State Bank's most frequently cited loan duration was Other, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 92 $5,430,000 $59,022 $0 0.00%
    $100k-200k 68 $9,620,000 $141,471 $0 0.00%
    $200k-400k 16 $4,370,000 $273,125 $0 0.00%
    $400k-600k 5 $2,455,000 $491,000 $0 0.00%
    $600k-1MM 4 $2,800,000 $700,000 $0 0.00%
    $1MM+ 2 $2,970,000 $1,485,000 $0 0.00%

    2020 saw Sooner State Bank place emphasis on $100,000 or less loans with 92 originations, totaling $5,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 11 $1,075,000 $97,727 $0 0.00%
    $75k-100k 9 $1,025,000 $113,889 $0 0.00%
    $100k-150k 6 $820,000 $136,667 $0 0.00%
    $150k-250k 6 $1,480,000 $246,667 $0 0.00%
    $50k or less 5 $205,000 $41,000 $0 0.00%
    $250k+ 2 $390,000 $195,000 $0 0.00%

    Sooner State Bank lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 187 $27,645,000 $147,834 $0 0.00%

    Sooner State Bank lent most frequently to those with DTI ratios of Exempt%, with 187 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 147 $22,535,000 $153,299 $0 0.00%
    White 38 $5,040,000 $132,632 $0 0.00%
    Black 2 $70,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    100.00%

    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
    98.93%

    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 187 $27,645,000 $147,834

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 16 $6,630,000 $414,375
    Single Family (1-4 Units):Manufactured 4 $410,000 $102,500
    Single Family (1-4 Units):Site-Built 167 $20,605,000 $123,383

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SYNERGY ONE LENDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 33.3%
    SYNERGY ONE LENDING, INC. Conventional home mortgage Closing on a mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. Conventional home mortgage Trouble during payment process 1 11.1%
    SYNERGY ONE LENDING, INC. FHA mortgage Closing on a mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. VA mortgage Closing on a mortgage 1 11.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sooner State Bank 10100 Se 15th Street Midwest City, OK 73130 Full Service B&M $6,983
    Sooner State Bank 10301 North May Avenue The Village, OK 73120 Full Service B&M $37,580
    Sooner State Bank 2 Southeast Fourth Tuttle, OK 73089 Full Service B&M $84,964
    Sooner State Bank 420 Northwest 32nd Newcastle, OK 73065 Full Service B&M $32,023
    Sooner State Bank 8001 Ne 23rd Street Oklahoma City, OK 73141 Full Service B&M $50,172
    Sooner State Bank Broadway And First Street Konawa, OK 74849 Full Service B&M $23,031
    Sooner State Bank Second And Wright Streets Newcastle, OK 73065 Full Service B&M $31,083

    For 2020, Sooner State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,713
    Net interest income $10,285
    Total noninterest income $1,382
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $469
    Trading account gains and fees $0
    Additional Noninterest Income $913
    Pre-tax net operating income $2,644
    Securities gains (or losses, -) $3
    Income before extraordinary items $2,647
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,647
    Minority interest net income $0
    Net income $2,647
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,644

    Sooner State Bank's gross interest income from loans was $11,713,000.
    Sooner State Bank's net interest income from loans was $10,285,000.
    Sooner State Bank's fee based income from loans was $469,000.
    Sooner State Bank's net income from loans was $2,647,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,428
    Provision for credit losses $244
    Total noninterest expense $8,779
    Salaries and employee benefits $4,012
    Premises and equipment expense $1,014
    Additional noninterest expense $3,753
    Applicable income taxes $0
    Net charge-offs $67
    Cash dividends $1,183

    Sooner State Bank's interest expense for loans was $1,428,000.
    Sooner State Bank's payroll and benefits expense were $4,012,000.
    Sooner State Bank's property, plant and equipment expenses $1,014,000.

    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 1.0%
    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 $266,087
    Deposits held in domestic offices $266,087
    Deposits by Individuals, partnerships, and corporations $239,835
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,240
    Deposits by Commercial banks and other depository institutions in U.S. $12
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $133,568
    Demand deposits $74,240
    Nontransaction accounts $132,519
    Money market deposit accounts (MMDAs) $56,314
    Other savings deposits (excluding MMDAs) $27,050
    Total time deposits $49,155
    Total time and savings deposits $191,847
    Noninterest-bearing deposits $74,240
    Interest-bearing deposits $191,847
    Retail deposits $256,440
    IRAs and Keogh plan accounts $6,771
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $296,803
    Cash & Balances due from depository institutions $5,850
    Interest-bearing balances $770
    Total securities $55,304
    Federal funds sold & reverse repurchase $67,714
    Net loans and leases $154,185
    Loan and leases loss allowance $1,683
    Trading account assets $0
    Bank premises and fixed assets $5,180
    Other real estate owned $0
    Goodwill and other intangibles $1,004
    All other assets $7,566

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $296,803
    Total Liabilities $267,502
    Total deposits $266,087
    Interest-bearing deposits $191,847
    Deposits held in domestic offices $266,087
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,415

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $154,185
    Loan and leases loss allowance $1,683
    Total loans and leases (domestic) $155,868
    All real estate loans $137,539
    Real estate loans in domestic offices $137,539
    Construction and development loans $35,738
    Residential 1-4 family construction $16,561
    Other construction, all land development and other land $19,177
    Loans secured by nonfarm nonresidential properties $45,827
    Nonfarm nonresidential secured by owner-occupied properties $17,166
    Commercial real estate & other non-farm, non-residential $28,661
    Multifamily residential real estate $4,449
    1-4 family residential loans $50,916
    Farmland loans $609
    Loans held in foreign offices $0
    Farm loans $446
    Commercial and industrial loans $8,893
    To non-U.S. addressees $0
    Loans to individuals $4,342
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,216
    Other loans to individuals $2,126
    All other loans & leases $4,648
    Loans to foreign governments and official institutions $0
    Other loans $21
    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 $154,185,000 of loans outstanding in 2020. $137,539,000 of loans were in real estate loans. $35,738,000 of loans were in development loans. $4,449,000 of loans were in multifamily mortgage loans. $50,916,000 of loans were in 1-4 family mortgage loans. $446,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,216,000 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 138 $24,396 $176,783
    Nonfarm, nonresidential loans - <$100k 31 $1,393 $44,935
    Nonfarm, nonresidential loans - $100-250k 53 $5,828 $109,962
    Nonfarm, nonresidential loans - $250k-1MM 54 $17,175 $318,056
    Commercial & Industrial, US addressed loans - <$1MM 228 $7,146 $31,342
    Commercial & Industrial, US addressed loans - <$100k 201 $3,818 $18,995
    Commercial & Industrial, US addressed loans - $100-250k 21 $2,059 $98,048
    Commercial & Industrial, US addressed loans - $250k-1MM 6 $1,269 $211,500
    Farmland loans - <$1MM 8 $609 $76,125
    Farmland loans - <$100k 3 $78 $26,000
    Farmland loans - $100-250k 3 $322 $107,333
    Farmland loans - $250k-1MM 2 $209 $104,500
    Agriculture operations loans - <$1MM 27 $446 $16,519
    Agriculture operations loans - <$100k 25 $333 $13,320
    Agriculture operations loans - $100-250k 2 $113 $56,500