Great Southern Bank Mortgage Rates, Fees & Info

Meridian, MS

LEI: 549300KJAE0JN2Z6YV76

Tax ID: 64-0117150

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Home Purchase and Refi loans. Great Southern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Meridian, Hattiesburg, Pensacola, Laurel, and Oxford among others. We have data for 8 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.

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    Originations

    99

    Origination Dollar Volume (All Markets)

    $13,665,000

    Employee count

    126

    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) 38 $4,810,000 $126,579 $0 0.00%
    HATTIESBURG, MS (FHA|USDA|VA) 29 $4,295,000 $148,103 $0 0.00%
    Outside of Metro Areas 24 $2,810,000 $117,083 $0 0.00%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $945,000 $945,000 $0 0.00%
    Laurel, MS (FHA|USDA|VA) 3 $425,000 $141,667 $0 0.00%
    Oxford, MS (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
    JACKSON, MS (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    MOBILE, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Great Southern Bank's top markets include Meridian, Hattiesburg, Pensacola, Laurel, and Oxford 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 99 $13,665,000 $138,030 $0 0.00%

    For 2021, Great Southern Bank's most frequently originated type of loan was Conventional, with 99 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $7,645,000 $186,463 $0 0.00%
    Refi 38 $4,730,000 $124,474 $0 0.00%
    Home Improvement 17 $995,000 $58,529 $0 0.00%
    Other 3 $295,000 $98,333 $0 0.00%

    For 2021, Great Southern Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 99 $13,665,000 $138,030 $0 0.00%

    For 2021, Great Southern Bank's most frequently cited loan duration was Other, with 99 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 51 $2,755,000 $54,020 $0 0.00%
    $100k-200k 30 $4,210,000 $140,333 $0 0.00%
    $200k-400k 16 $4,670,000 $291,875 $0 0.00%
    $1MM+ 1 $1,085,000 $1,085,000 $0 0.00%
    $600k-1MM 1 $945,000 $945,000 $0 0.00%

    2021 saw Great Southern Bank place emphasis on $100,000 or less loans with 51 originations, totaling $2,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 22 $1,420,000 $64,545 $0 0.00%
    $50k-75k 16 $1,740,000 $108,750 $0 0.00%
    $100k-150k 15 $2,375,000 $158,333 $0 0.00%
    $75k-100k 14 $1,650,000 $117,857 $0 0.00%
    $250k+ 8 $1,120,000 $140,000 $0 0.00%
    $150k-250k 2 $210,000 $105,000 $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 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 99 $13,665,000 $138,030 $0 0.00%

    Great Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $8,185,000 $112,123 $0 0.00%
    Not applicable 20 $4,810,000 $240,500 $0 0.00%
    Black 5 $565,000 $113,000 $0 0.00%
    Asian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.75%

    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
    97.98%

    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 99 $13,665,000 $138,030

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    99 $13,665,000 $138,030

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Great Southern Bank 1010 Azalea Drive Waynesboro, MS 39367 Full Service B&M $47,087
    Great Southern Bank 105 S Archusa Avenue Quitman, MS 39355 Full Service B&M $67,137
    Great Southern Bank 1245 Bonita Lakes Circle Meridian, MS 39301 Full Service B&M $8,175
    Great Southern Bank 1300 Hardy Street Hattiesburg, MS 39401 Full Service B&M $30,073
    Great Southern Bank 15122 Highway 15 South Decatur, MS 39327 Full Service B&M $22,572
    Great Southern Bank 218 22nd Avenue South Meridian, MS 39301 Full Service B&M $110,447
    Great Southern Bank 2201 13th St Meridian, MS 39301 Full Service B&M $2,985
    Great Southern Bank 2441 North Hills Street Meridian, MS 39305 Full Service B&M $10,427
    Great Southern Bank 6232 Us Highway 98 Hattiesburg, MS 39402 Full Service B&M $4,438
    Great Southern Bank Highway 11 And State Street Enterprise, MS 39330 Full Service B&M $9,593
    Great Southern Bank Highway 11 South And Highway 19 Meridian, MS 39301 Full Service B&M $4,581
    Great Southern Bank North Main Street At Glendale Road Hattiesburg, MS 39401 Full Service B&M $2,634

    For 2021, Great Southern Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,056
    Net interest income $11,641
    Total noninterest income $5,408
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,191
    Trading account gains and fees $0
    Additional Noninterest Income $3,217
    Pre-tax net operating income $4,656
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,490
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,490
    Minority interest net income $0
    Net income $3,490
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,490

    Great Southern Bank's gross interest income from loans was $12,056,000.
    Great Southern Bank's net interest income from loans was $11,641,000.
    Great Southern Bank's fee based income from loans was $2,191,000.
    Great Southern Bank's net income from loans was $3,490,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $415
    Provision for credit losses $353
    Total noninterest expense $12,040
    Salaries and employee benefits $7,575
    Premises and equipment expense $1,789
    Additional noninterest expense $2,676
    Applicable income taxes $1,166
    Net charge-offs $130
    Cash dividends $1,686

    Great Southern Bank's interest expense for loans was $415,000.
    Great Southern Bank's payroll and benefits expense were $7,575,000.
    Great Southern Bank's property, plant and equipment expenses $1,789,000.

    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 0.0%
    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 $327,328
    Deposits held in domestic offices $327,328
    Deposits by Individuals, partnerships, and corporations $311,290
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $15,974
    Deposits by Commercial banks and other depository institutions in U.S. $64
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $177,408
    Demand deposits $95,454
    Nontransaction accounts $149,920
    Money market deposit accounts (MMDAs) $38,665
    Other savings deposits (excluding MMDAs) $48,923
    Total time deposits $62,332
    Total time and savings deposits $231,874
    Noninterest-bearing deposits $95,425
    Interest-bearing deposits $231,904
    Retail deposits $320,158
    IRAs and Keogh plan accounts $15,450
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $357,911
    Cash & Balances due from depository institutions $28,219
    Interest-bearing balances $22,265
    Total securities $198,445
    Federal funds sold & reverse repurchase $350
    Net loans and leases $120,242
    Loan and leases loss allowance $1,478
    Trading account assets $0
    Bank premises and fixed assets $5,006
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $5,649

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $357,911
    Total Liabilities $327,939
    Total deposits $327,328
    Interest-bearing deposits $231,904
    Deposits held in domestic offices $327,328
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $611

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $120,242
    Loan and leases loss allowance $1,478
    Total loans and leases (domestic) $121,720
    All real estate loans $78,413
    Real estate loans in domestic offices $78,413
    Construction and development loans $5,543
    Residential 1-4 family construction $3,357
    Other construction, all land development and other land $2,186
    Loans secured by nonfarm nonresidential properties $23,349
    Nonfarm nonresidential secured by owner-occupied properties $16,690
    Commercial real estate & other non-farm, non-residential $6,659
    Multifamily residential real estate $1,478
    1-4 family residential loans $42,279
    Farmland loans $5,764
    Loans held in foreign offices $0
    Farm loans $1,340
    Commercial and industrial loans $13,038
    To non-U.S. addressees $0
    Loans to individuals $29,986
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $12,505
    Other loans to individuals $17,481
    All other loans & leases $561
    Loans to foreign governments and official institutions $0
    Other loans $48
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $710
    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 $120,242,000 of loans outstanding in 2021. $78,413,000 of loans were in real estate loans. $5,543,000 of loans were in development loans. $1,478,000 of loans were in multifamily mortgage loans. $42,279,000 of loans were in 1-4 family mortgage loans. $1,340,000 of loans were in farm loans. $0 of loans were in credit card loans. $12,505,000 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 87 $13,895 $159,713
    Nonfarm, nonresidential loans - <$100k 35 $1,289 $36,829
    Nonfarm, nonresidential loans - $100-250k 29 $3,164 $109,103
    Nonfarm, nonresidential loans - $250k-1MM 23 $9,442 $410,522
    Commercial & Industrial, US addressed loans - <$1MM 272 $8,990 $33,051
    Commercial & Industrial, US addressed loans - <$100k 243 $5,290 $21,770
    Commercial & Industrial, US addressed loans - $100-250k 20 $1,942 $97,100
    Commercial & Industrial, US addressed loans - $250k-1MM 9 $1,758 $195,333
    Farmland loans - <$1MM 90 $4,600 $51,111
    Farmland loans - <$100k 62 $1,862 $30,032
    Farmland loans - $100-250k 22 $1,862 $84,636
    Farmland loans - $250k-1MM 6 $876 $146,000
    Agriculture operations loans - <$1MM 82 $1,229 $14,988
    Agriculture operations loans - <$100k 82 $1,229 $14,988