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, Shawnee, Tulsa, and Stillwater among others. We have data for 5 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    180

    Origination Dollar Volume (All Markets)

    $29,940,000

    Employee count

    68

    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) 170 $28,500,000 $167,647 $0 0.00%
    Shawnee, OK (FHA|USDA|VA) 7 $925,000 $132,143 $0 0.00%
    TULSA, OK (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    Stillwater, OK (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    Outside of Metro Areas 1 $15,000 $15,000 $0 0.00%
    Sooner State Bank's top markets include Oklahoma City, Shawnee, Tulsa, and Stillwater among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 180 $29,940,000 $166,333 $0 0.00%

    For 2021, Sooner State Bank's most frequently originated type of loan was Conventional, with 180 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 116 $17,650,000 $152,155 $0 0.00%
    Refi 41 $8,595,000 $209,634 $0 0.00%
    Home Improvement 20 $3,370,000 $168,500 $0 0.00%
    Other 3 $325,000 $108,333 $0 0.00%

    For 2021, Sooner State Bank's most frequently cited loan purpose was Home Purchase, with 116 originations. The 2nd most popular reason was Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 180 $29,940,000 $166,333 $0 0.00%

    For 2021, Sooner State Bank's most frequently cited loan duration was Other, with 180 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 79 $4,755,000 $60,190 $0 0.00%
    $100k-200k 65 $8,795,000 $135,308 $0 0.00%
    $200k-400k 24 $6,400,000 $266,667 $0 0.00%
    $400k-600k 6 $2,720,000 $453,333 $0 0.00%
    $1MM+ 5 $6,355,000 $1,271,000 $0 0.00%
    $600k-1MM 1 $915,000 $915,000 $0 0.00%

    2021 saw Sooner State Bank place emphasis on $100,000 or less loans with 79 originations, totaling $4,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $2,125,000 $163,462 $0 0.00%
    $150k-250k 10 $1,370,000 $137,000 $0 0.00%
    $50k or less 6 $750,000 $125,000 $0 0.00%
    $75k-100k 6 $560,000 $93,333 $0 0.00%
    $250k+ 5 $835,000 $167,000 $0 0.00%
    $50k-75k 3 $605,000 $201,667 $0 0.00%

    Sooner State Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $150k-250k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 180 $29,940,000 $166,333 $0 0.00%

    Sooner State Bank lent most frequently to those with DTI ratios of Exempt%, with 180 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 137 $23,695,000 $172,956 $0 0.00%
    White 34 $5,150,000 $151,471 $0 0.00%
    Asian 2 $440,000 $220,000 $0 0.00%
    Black 3 $285,000 $95,000 $0 0.00%
    American Indian 2 $190,000 $95,000 $0 0.00%
    Other Asian 2 $180,000 $90,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.88%

    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
    97.22%

    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 180 $29,940,000 $166,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    180 $29,940,000 $166,333

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Synergy One Lending, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Synergy One Lending, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    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 $7,496
    Sooner State Bank 10301 North May Avenue The Village, OK 73120 Full Service B&M $54,558
    Sooner State Bank 2 Southeast Fourth Tuttle, OK 73089 Full Service B&M $92,145
    Sooner State Bank 420 Northwest 32nd Newcastle, OK 73065 Full Service B&M $37,018
    Sooner State Bank 8001 Ne 23rd Street Oklahoma City, OK 73141 Full Service B&M $50,220
    Sooner State Bank Broadway And First Street Konawa, OK 74849 Full Service B&M $23,524
    Sooner State Bank Second And Wright Streets Newcastle, OK 73065 Full Service B&M $32,618

    For 2021, Sooner State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,756
    Net interest income $9,948
    Total noninterest income $1,464
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $465
    Trading account gains and fees $0
    Additional Noninterest Income $999
    Pre-tax net operating income $3,172
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,172
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,172
    Minority interest net income $0
    Net income $3,172
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,172

    Sooner State Bank's gross interest income from loans was $10,756,000.
    Sooner State Bank's net interest income from loans was $9,948,000.
    Sooner State Bank's fee based income from loans was $465,000.
    Sooner State Bank's net income from loans was $3,172,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $808
    Provision for credit losses $126
    Total noninterest expense $8,114
    Salaries and employee benefits $4,486
    Premises and equipment expense $919
    Additional noninterest expense $2,709
    Applicable income taxes $0
    Net charge-offs $104
    Cash dividends $1,538

    Sooner State Bank's interest expense for loans was $808,000.
    Sooner State Bank's payroll and benefits expense were $4,486,000.
    Sooner State Bank's property, plant and equipment expenses $919,000.

    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 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $290,262
    Deposits held in domestic offices $290,262
    Deposits by Individuals, partnerships, and corporations $261,729
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $28,522
    Deposits by Commercial banks and other depository institutions in U.S. $11
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $152,167
    Demand deposits $86,363
    Nontransaction accounts $138,095
    Money market deposit accounts (MMDAs) $56,585
    Other savings deposits (excluding MMDAs) $32,248
    Total time deposits $49,262
    Total time and savings deposits $203,899
    Noninterest-bearing deposits $86,363
    Interest-bearing deposits $203,899
    Retail deposits $280,103
    IRAs and Keogh plan accounts $6,744
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $321,650
    Cash & Balances due from depository institutions $5,734
    Interest-bearing balances $1,192
    Total securities $76,206
    Federal funds sold & reverse repurchase $66,170
    Net loans and leases $160,394
    Loan and leases loss allowance $1,705
    Trading account assets $0
    Bank premises and fixed assets $4,837
    Other real estate owned $0
    Goodwill and other intangibles $678
    All other assets $7,631

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $321,650
    Total Liabilities $291,551
    Total deposits $290,262
    Interest-bearing deposits $203,899
    Deposits held in domestic offices $290,262
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,289

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $160,394
    Loan and leases loss allowance $1,705
    Total loans and leases (domestic) $162,099
    All real estate loans $144,556
    Real estate loans in domestic offices $144,556
    Construction and development loans $37,576
    Residential 1-4 family construction $18,431
    Other construction, all land development and other land $19,145
    Loans secured by nonfarm nonresidential properties $48,723
    Nonfarm nonresidential secured by owner-occupied properties $24,695
    Commercial real estate & other non-farm, non-residential $24,028
    Multifamily residential real estate $4,906
    1-4 family residential loans $52,599
    Farmland loans $752
    Loans held in foreign offices $0
    Farm loans $316
    Commercial and industrial loans $9,325
    To non-U.S. addressees $0
    Loans to individuals $3,607
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,928
    Other loans to individuals $1,679
    All other loans & leases $4,295
    Loans to foreign governments and official institutions $0
    Other loans $30
    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 $160,394,000 of loans outstanding in 2021. $144,556,000 of loans were in real estate loans. $37,576,000 of loans were in development loans. $4,906,000 of loans were in multifamily mortgage loans. $52,599,000 of loans were in 1-4 family mortgage loans. $316,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,928,000 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 131 $26,089 $199,153
    Nonfarm, nonresidential loans - <$100k 26 $1,205 $46,346
    Nonfarm, nonresidential loans - $100-250k 50 $5,407 $108,140
    Nonfarm, nonresidential loans - $250k-1MM 55 $19,477 $354,127
    Commercial & Industrial, US addressed loans - <$1MM 206 $6,838 $33,194
    Commercial & Industrial, US addressed loans - <$100k 180 $3,780 $21,000
    Commercial & Industrial, US addressed loans - $100-250k 21 $1,879 $89,476
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,179 $235,800
    Farmland loans - <$1MM 10 $751 $75,100
    Farmland loans - <$100k 3 $61 $20,333
    Farmland loans - $100-250k 5 $515 $103,000
    Farmland loans - $250k-1MM 2 $175 $87,500
    Agriculture operations loans - <$1MM 15 $316 $21,067
    Agriculture operations loans - <$100k 13 $229 $17,615
    Agriculture operations loans - $100-250k 2 $87 $43,500