Great Southern Bank Mortgage Rates, Fees & Info

Meridian, MS

LEI: 549300KJAE0JN2Z6YV76

Tax ID: 64-0117150

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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

    Great Southern Bank is a smaller bank specializing in Refi and Home Purchase loans. Great Southern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Meridian, Hattiesburg, Oxford, Pensacola, and Laurel among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Great Southern 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    76

    Origination Dollar Volume (All Markets)

    $10,510,000

    Employee count

    137

    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
    Meridian, MS (FHA|USDA|VA) 51 $8,315,000 $163,039 $0 0.00%
    Outside of Metro Areas 15 $1,255,000 $83,667 $0 0.00%
    HATTIESBURG, MS (FHA|USDA|VA) 7 $615,000 $87,857 $0 0.00%
    Oxford, MS (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Laurel, MS (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Great Southern Bank's top markets include Meridian, Hattiesburg, Oxford, Pensacola, and Laurel among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $10,510,000 $138,289 $0 0.00%

    For 2018, Great Southern Bank's most frequently originated type of loan was Conventional, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 39 $5,745,000 $147,308 $0 0.00%
    Home Purchase 22 $3,850,000 $175,000 $0 0.00%
    Home Improvement 8 $400,000 $50,000 $0 0.00%
    Other 7 $515,000 $73,571 $0 0.00%

    For 2018, Great Southern Bank's most frequently cited loan purpose was Refi, with 39 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 76 $10,510,000 $138,289 $0 0.00%

    For 2018, Great Southern Bank's most frequently cited loan duration was Other, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,270,000 $49,348 $0 0.00%
    $100k-200k 16 $2,200,000 $137,500 $0 0.00%
    $200k-400k 9 $2,245,000 $249,444 $0 0.00%
    $400k-600k 2 $930,000 $465,000 $0 0.00%
    $600k-1MM 2 $1,360,000 $680,000 $0 0.00%
    $1MM+ 1 $1,505,000 $1,505,000 $0 0.00%

    2018 saw Great Southern Bank place emphasis on $100,000 or less loans with 46 originations, totaling $2,270,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $1,240,000 $77,500 $0 0.00%
    $50k or less 16 $700,000 $43,750 $0 0.00%
    $75k-100k 13 $1,515,000 $116,538 $0 0.00%
    $100k-150k 10 $1,320,000 $132,000 $0 0.00%
    $150k-250k 8 $1,930,000 $241,250 $0 0.00%
    $250k+ 4 $1,110,000 $277,500 $0 0.00%

    Great Southern Bank lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $50k or less, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 76 $10,510,000 $138,289 $0 0.00%

    Great Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 65 $7,695,000 $118,385 $0 0.00%
    Not applicable 7 $2,515,000 $359,286 $0 0.00%
    Black 4 $300,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.26%

    Great Southern 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
    96.05%

    Great Southern 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 76 $10,510,000 $138,289

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $435,000 $435,000
    Single Family (1-4 Units):Manufactured 5 $275,000 $55,000
    Single Family (1-4 Units):Site-Built 70 $9,800,000 $140,000

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    GREAT WESTERN BANCORP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    GREAT WESTERN BANCORP, INC. VA mortgage Struggling to pay mortgage 2 66.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Great Southern Bank 1010 Azalea Drive Waynesboro, MS 39367 Full Service B&M $42,876
    Great Southern Bank 105 S Archusa Avenue Quitman, MS 39355 Full Service B&M $56,605
    Great Southern Bank 1245 Bonita Lakes Circle Meridian, MS 39301 Full Service B&M $7,615
    Great Southern Bank 1300 Hardy Street Hattiesburg, MS 39401 Full Service B&M $22,526
    Great Southern Bank 15122 Highway 15 South Decatur, MS 39327 Full Service B&M $17,483
    Great Southern Bank 218 22nd Avenue South Meridian, MS 39301 Full Service B&M $82,498
    Great Southern Bank 2201 13th St Meridian, MS 39301 Full Service B&M $2,141
    Great Southern Bank 2441 North Hills Street Meridian, MS 39305 Full Service B&M $8,567
    Great Southern Bank 6232 Us Highway 98 Hattiesburg, MS 39402 Full Service B&M $3,125
    Great Southern Bank Highway 11 And State Street Enterprise, MS 39330 Full Service B&M $7,610
    Great Southern Bank Highway 11 South And Highway 19 Meridian, MS 39301 Full Service B&M $4,643
    Great Southern Bank North Main Street At Glendale Road Hattiesburg, MS 39401 Full Service B&M $1,652

    For 2018, Great Southern Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,148
    Net interest income $12,357
    Total noninterest income $3,000
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,217
    Trading account gains and fees $0
    Additional Noninterest Income $783
    Pre-tax net operating income $3,027
    Securities gains (or losses, -) $-3
    Income before extraordinary items $2,538
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,538
    Minority interest net income $0
    Net income $2,538
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,540

    Great Southern Bank's gross interest income from loans was $13,148,000.
    Great Southern Bank's net interest income from loans was $12,357,000.
    Great Southern Bank's fee based income from loans was $2,217,000.
    Great Southern Bank's net income from loans was $2,538,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $791
    Provision for credit losses $370
    Total noninterest expense $11,960
    Salaries and employee benefits $7,462
    Premises and equipment expense $1,859
    Additional noninterest expense $2,639
    Applicable income taxes $486
    Net charge-offs $399
    Cash dividends $2,271

    Great Southern Bank's interest expense for loans was $791,000.
    Great Southern Bank's payroll and benefits expense were $7,462,000.
    Great Southern Bank's property, plant and equipment expenses $1,859,000.

    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 2.0%
    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 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $267,883
    Deposits held in domestic offices $267,883
    Deposits by Individuals, partnerships, and corporations $255,512
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $12,329
    Deposits by Commercial banks and other depository institutions in U.S. $42
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $134,085
    Demand deposits $73,343
    Nontransaction accounts $133,798
    Money market deposit accounts (MMDAs) $33,214
    Other savings deposits (excluding MMDAs) $29,221
    Total time deposits $71,363
    Total time and savings deposits $194,540
    Noninterest-bearing deposits $73,343
    Interest-bearing deposits $194,540
    Retail deposits $260,148
    IRAs and Keogh plan accounts $17,819
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $294,138
    Cash & Balances due from depository institutions $28,866
    Interest-bearing balances $23,490
    Total securities $136,480
    Federal funds sold & reverse repurchase $427
    Net loans and leases $118,055
    Loan and leases loss allowance $1,363
    Trading account assets $0
    Bank premises and fixed assets $5,477
    Other real estate owned $135
    Goodwill and other intangibles $0
    All other assets $4,698

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $294,138
    Total Liabilities $268,415
    Total deposits $267,883
    Interest-bearing deposits $194,540
    Deposits held in domestic offices $267,883
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $532

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $118,055
    Loan and leases loss allowance $1,363
    Total loans and leases (domestic) $119,418
    All real estate loans $75,473
    Real estate loans in domestic offices $75,473
    Construction and development loans $6,333
    Residential 1-4 family construction $1,586
    Other construction, all land development and other land $4,747
    Loans secured by nonfarm nonresidential properties $20,537
    Nonfarm nonresidential secured by owner-occupied properties $7,818
    Commercial real estate & other non-farm, non-residential $12,719
    Multifamily residential real estate $600
    1-4 family residential loans $40,223
    Farmland loans $7,780
    Loans held in foreign offices $0
    Farm loans $1,033
    Commercial and industrial loans $11,523
    To non-U.S. addressees $0
    Loans to individuals $32,943
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $13,898
    Other loans to individuals $19,045
    All other loans & leases $306
    Loans to foreign governments and official institutions $0
    Other loans $87
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $507
    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

    Great Southern Bank had $118,055,000 of loans outstanding in 2018. $75,473,000 of loans were in real estate loans. $6,333,000 of loans were in development loans. $600,000 of loans were in multifamily mortgage loans. $40,223,000 of loans were in 1-4 family mortgage loans. $1,033,000 of loans were in farm loans. $0 of loans were in credit card loans. $13,898,000 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 84 $9,930 $118,214
    Nonfarm, nonresidential loans - <$100k 38 $1,345 $35,395
    Nonfarm, nonresidential loans - $100-250k 21 $2,260 $107,619
    Nonfarm, nonresidential loans - $250k-1MM 25 $6,325 $253,000
    Commercial & Industrial, US addressed loans - <$1MM 223 $7,203 $32,300
    Commercial & Industrial, US addressed loans - <$100k 203 $3,727 $18,360
    Commercial & Industrial, US addressed loans - $100-250k 12 $1,205 $100,417
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $2,271 $283,875
    Farmland loans - <$1MM 103 $7,780 $75,534
    Farmland loans - <$100k 103 $7,780 $75,534
    Agriculture operations loans - <$1MM 91 $1,033 $11,352
    Agriculture operations loans - <$100k 91 $1,033 $11,352