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: Hattiesburg, Meridian, Pensacola, Laurel, and Jackson among others. We have data for 7 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

    74

    Origination Dollar Volume (All Markets)

    $7,800,000

    Employee count

    132

    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
    HATTIESBURG, MS (FHA|USDA|VA) 19 $3,315,000 $174,474 $0 0.00%
    Meridian, MS (FHA|USDA|VA) 38 $2,380,000 $62,632 $0 0.00%
    Outside of Metro Areas 12 $1,290,000 $107,500 $0 0.00%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $495,000 $495,000 $0 0.00%
    Laurel, MS (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
    JACKSON, MS (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Great Southern Bank's top markets include Hattiesburg, Meridian, Pensacola, Laurel, and Jackson among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $7,800,000 $105,405 $0 0.00%

    For 2019, Great Southern Bank's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 31 $3,875,000 $125,000 $0 0.00%
    Home Purchase 28 $3,220,000 $115,000 $0 0.00%
    Home Improvement 10 $440,000 $44,000 $0 0.00%
    Other 5 $265,000 $53,000 $0 0.00%

    For 2019, Great Southern Bank's most frequently cited loan purpose was Refi, with 31 originations. The 2nd most popular reason was Home Purchase, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 74 $7,800,000 $105,405 $0 0.00%

    For 2019, Great Southern Bank's most frequently cited loan duration was Other, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 57 $2,655,000 $46,579 $0 0.00%
    $100k-200k 11 $1,725,000 $156,818 $0 0.00%
    $200k-400k 3 $975,000 $325,000 $0 0.00%
    $400k-600k 2 $1,000,000 $500,000 $0 0.00%
    $1MM+ 1 $1,445,000 $1,445,000 $0 0.00%

    2019 saw Great Southern Bank place emphasis on $100,000 or less loans with 57 originations, totaling $2,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 22 $810,000 $36,818 $0 0.00%
    $50k-75k 17 $1,365,000 $80,294 $0 0.00%
    $75k-100k 10 $950,000 $95,000 $0 0.00%
    $100k-150k 5 $825,000 $165,000 $0 0.00%
    $150k-250k 3 $535,000 $178,333 $0 0.00%
    $250k+ 2 $370,000 $185,000 $0 0.00%

    Great Southern Bank lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $50k-75k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 74 $7,800,000 $105,405 $0 0.00%

    Great Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 50 $4,360,000 $87,200 $0 0.00%
    Not applicable 14 $2,910,000 $207,857 $0 0.00%
    Black 10 $530,000 $53,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.00%

    Great Southern Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.95%

    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 74 $7,800,000 $105,405

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $65,000 $65,000
    Multifamily:Site-Built 2 $1,750,000 $875,000
    Single Family (1-4 Units):Manufactured 9 $315,000 $35,000
    Single Family (1-4 Units):Site-Built 62 $5,670,000 $91,452

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    GREAT WESTERN BANCORP, INC. Conventional home mortgage Struggling to pay mortgage 1 50.0%
    GREAT WESTERN BANCORP, INC. Other type of mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Great Southern Bank 1010 Azalea Drive Waynesboro, MS 39367 Full Service B&M $40,054
    Great Southern Bank 105 S Archusa Avenue Quitman, MS 39355 Full Service B&M $60,088
    Great Southern Bank 1245 Bonita Lakes Circle Meridian, MS 39301 Full Service B&M $7,862
    Great Southern Bank 1300 Hardy Street Hattiesburg, MS 39401 Full Service B&M $22,129
    Great Southern Bank 15122 Highway 15 South Decatur, MS 39327 Full Service B&M $18,240
    Great Southern Bank 218 22nd Avenue South Meridian, MS 39301 Full Service B&M $91,768
    Great Southern Bank 2201 13th St Meridian, MS 39301 Full Service B&M $2,280
    Great Southern Bank 2441 North Hills Street Meridian, MS 39305 Full Service B&M $8,822
    Great Southern Bank 6232 Us Highway 98 Hattiesburg, MS 39402 Full Service B&M $4,061
    Great Southern Bank Highway 11 And State Street Enterprise, MS 39330 Full Service B&M $8,135
    Great Southern Bank Highway 11 South And Highway 19 Meridian, MS 39301 Full Service B&M $5,244
    Great Southern Bank North Main Street At Glendale Road Hattiesburg, MS 39401 Full Service B&M $2,085

    For 2019, Great Southern Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,710
    Net interest income $12,478
    Total noninterest income $3,262
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,208
    Trading account gains and fees $0
    Additional Noninterest Income $1,054
    Pre-tax net operating income $3,361
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,721
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,721
    Minority interest net income $0
    Net income $2,721
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,721

    Great Southern Bank's gross interest income from loans was $13,710,000.
    Great Southern Bank's net interest income from loans was $12,478,000.
    Great Southern Bank's fee based income from loans was $2,208,000.
    Great Southern Bank's net income from loans was $2,721,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,232
    Provision for credit losses $406
    Total noninterest expense $11,973
    Salaries and employee benefits $7,631
    Premises and equipment expense $1,863
    Additional noninterest expense $2,479
    Applicable income taxes $640
    Net charge-offs $455
    Cash dividends $2,322

    Great Southern Bank's interest expense for loans was $1,232,000.
    Great Southern Bank's payroll and benefits expense were $7,631,000.
    Great Southern Bank's property, plant and equipment expenses $1,863,000.

    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 3.0%
    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 $264,557
    Deposits held in domestic offices $264,557
    Deposits by Individuals, partnerships, and corporations $253,548
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $10,820
    Deposits by Commercial banks and other depository institutions in U.S. $189
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $126,311
    Demand deposits $66,877
    Nontransaction accounts $138,246
    Money market deposit accounts (MMDAs) $33,041
    Other savings deposits (excluding MMDAs) $31,601
    Total time deposits $73,604
    Total time and savings deposits $197,680
    Noninterest-bearing deposits $66,877
    Interest-bearing deposits $197,680
    Retail deposits $255,232
    IRAs and Keogh plan accounts $17,377
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $294,044
    Cash & Balances due from depository institutions $23,050
    Interest-bearing balances $17,747
    Total securities $141,313
    Federal funds sold & reverse repurchase $427
    Net loans and leases $119,778
    Loan and leases loss allowance $1,314
    Trading account assets $0
    Bank premises and fixed assets $5,257
    Other real estate owned $122
    Goodwill and other intangibles $0
    All other assets $4,097

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $294,044
    Total Liabilities $265,529
    Total deposits $264,557
    Interest-bearing deposits $197,680
    Deposits held in domestic offices $264,557
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $972

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $119,778
    Loan and leases loss allowance $1,314
    Total loans and leases (domestic) $121,092
    All real estate loans $74,442
    Real estate loans in domestic offices $74,442
    Construction and development loans $3,845
    Residential 1-4 family construction $1,328
    Other construction, all land development and other land $2,517
    Loans secured by nonfarm nonresidential properties $23,114
    Nonfarm nonresidential secured by owner-occupied properties $11,155
    Commercial real estate & other non-farm, non-residential $11,959
    Multifamily residential real estate $851
    1-4 family residential loans $39,059
    Farmland loans $7,573
    Loans held in foreign offices $0
    Farm loans $1,042
    Commercial and industrial loans $14,177
    To non-U.S. addressees $0
    Loans to individuals $33,103
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $13,741
    Other loans to individuals $19,362
    All other loans & leases $271
    Loans to foreign governments and official institutions $0
    Other loans $78
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,268
    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 $119,778,000 of loans outstanding in 2019. $74,442,000 of loans were in real estate loans. $3,845,000 of loans were in development loans. $851,000 of loans were in multifamily mortgage loans. $39,059,000 of loans were in 1-4 family mortgage loans. $1,042,000 of loans were in farm loans. $0 of loans were in credit card loans. $13,741,000 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 89 $11,735 $131,854
    Nonfarm, nonresidential loans - <$100k 41 $1,461 $35,634
    Nonfarm, nonresidential loans - $100-250k 22 $2,267 $103,045
    Nonfarm, nonresidential loans - $250k-1MM 26 $8,007 $307,962
    Commercial & Industrial, US addressed loans - <$1MM 239 $9,599 $40,163
    Commercial & Industrial, US addressed loans - <$100k 214 $4,483 $20,949
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,695 $121,071
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $3,421 $311,000
    Farmland loans - <$1MM 98 $5,617 $57,316
    Farmland loans - <$100k 66 $1,883 $28,530
    Farmland loans - $100-250k 26 $2,601 $100,038
    Farmland loans - $250k-1MM 6 $1,133 $188,833
    Agriculture operations loans - <$1MM 91 $1,042 $11,451
    Agriculture operations loans - <$100k 91 $1,042 $11,451