Central Bank Of Oklahoma Mortgage Rates, Fees & Info

Tulsa, OK

LEI: 549300KLYYCDTN093E29

Tax ID: 73-1578522

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Central Bank Of Oklahoma is a smaller bank specializing in Home Purchase and Refi loans. Central Bank Of Oklahoma has a high proportion of conventional loans. Their top markets by origination volume include: Stillwater, Oklahoma City, Tulsa, Crestview, and Ada among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Central Bank Of Oklahoma 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. Central Bank Of Oklahoma is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    192

    Origination Dollar Volume (All Markets)

    $98,910,000

    Employee count

    91

    Awards

    Central Bank of Oklahoma 30 Year Conventional Loans silver
    Show all (1) awards

    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
    Stillwater, OK (FHA|USDA|VA) 8 $49,000,000 $6,125,000 $4,023 5.59%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 110 $35,290,000 $320,818 $5,740 5.63%
    TULSA, OK (FHA|USDA|VA) 69 $12,885,000 $186,739 $3,079 5.37%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 5.38%
    Outside of Metro Areas 3 $595,000 $198,333 $2,488 5.29%
    Ada, OK (FHA|USDA|VA) 1 $135,000 $135,000 $3,259 5.13%
    Central Bank Of Oklahoma's top markets include Stillwater, Oklahoma City, Tulsa, Crestview, and Ada among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Central Bank of Oklahoma based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Tulsa Federal Credit Union
    Similarity Rank: 42
    RED CROWN
    Similarity Rank: 66
    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 89
    WEOKIE
    Similarity Rank: 120
    First Fidelity Bank
    Similarity Rank: 180
    MORTGAGE CLEARING CORPORATION
    Similarity Rank: 192
    TRUE SKY
    Similarity Rank: 240
    Central Bank of Oklahoma
    Similarity Rank: 294
    TTCU Federal Credit Union
    Similarity Rank: 297
    Washita Mortgage, Inc.
    Similarity Rank: 564

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 192 $98,910,000 $515,156 $3,224 5.53%

    For 2018, Central Bank Of Oklahoma's most frequently originated type of loan was Conventional, with 192 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 118 $40,870,000 $346,356 $3,401 5.48%
    Refi 41 $53,635,000 $1,308,171 $3,009 5.73%
    Cash Out Refi 21 $3,635,000 $173,095 $3,027 5.43%
    Home Improvement 12 $770,000 $64,167 $3,162 5.51%

    For 2018, Central Bank Of Oklahoma's most frequently cited loan purpose was Home Purchase, with 118 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
    5 Year 138 $40,170,000 $291,087 $0 5.62%
    30 Year 17 $3,775,000 $222,059 $3,183 5.10%
    1 Year 15 $3,455,000 $230,333 $0 5.62%
    Other 9 $49,105,000 $5,456,111 $0 5.58%
    3 Year 5 $955,000 $191,000 $0 5.60%
    15 Year 5 $1,175,000 $235,000 $3,711 4.35%
    20 Year 2 $220,000 $110,000 $2,575 4.56%
    10 Year 1 $55,000 $55,000 $0 5.63%

    For 2018, Central Bank Of Oklahoma's most frequently cited loan duration was 5 Year, with 138 originations. The 2nd most popular length was 30 Year, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 8 $2,410,000 $301,250
    $2k-3k 1 $295,000 $295,000

    Central Bank Of Oklahoma's average total fees were $3,183, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 8 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 165 $44,925,000 $272,273
    4-5% 20 $51,300,000 $2,565,000
    6-7% 4 $750,000 $187,500
    3-4% 2 $710,000 $355,000
    7-8% 1 $1,225,000 $1,225,000

    During 2018, Central Bank Of Oklahoma's average interest rate for loans was 5.10%, while their most frequently originated rate bucket for loans was 5-6%, with 165 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 71 $10,175,000 $143,310 $3,106 5.49%
    $100,000 or less 63 $3,665,000 $58,175 $2,664 5.68%
    $200k-400k 38 $9,570,000 $251,842 $3,251 5.37%
    $400k-600k 12 $5,660,000 $471,667 $3,610 5.39%
    $1MM+ 6 $68,590,000 $11,431,667 $5,740 5.71%
    $600k-1MM 2 $1,250,000 $625,000 $0 5.25%

    2018 saw Central Bank Of Oklahoma place emphasis on $100k-200k loans with 71 originations, totaling $10,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 13 $4,125,000 $317,308 $4,151 5.38%
    $50k or less 11 $935,000 $85,000 $2,786 5.34%
    $100k-150k 10 $1,460,000 $146,000 $2,837 5.21%
    $150k-250k 9 $1,175,000 $130,556 $3,512 5.08%
    $75k-100k 7 $905,000 $129,286 $3,359 5.36%
    $50k-75k 3 $255,000 $85,000 $2,661 5.33%

    Central Bank Of Oklahoma lent most frequently to those with incomes in the $250k+ range, with 13 originations. The second most popular income band? $50k or less, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 22 $3,420,000 $155,455 $3,151 5.32%
    20-30% 12 $1,930,000 $160,833 $3,184 5.19%
    30-36% 6 $490,000 $81,667 $2,662 5.68%
    49% 4 $590,000 $147,500 $3,888 4.94%
    38% 2 $240,000 $120,000 $3,029 4.88%
    36% 2 $400,000 $200,000 $2,729 4.50%
    39% 1 $245,000 $245,000 $2,809 4.75%
    43% 1 $45,000 $45,000 $2,832 5.13%
    46% 1 $175,000 $175,000 $0 5.88%
    37% 1 $95,000 $95,000 $2,761 4.88%
    >60% 1 $1,225,000 $1,225,000 $5,740 7.50%

    Central Bank Of Oklahoma lent most frequently to those with DTI ratios of <20%, with 22 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 139 $90,055,000 $647,878 $0 5.62%
    White 48 $8,190,000 $170,625 $3,139 5.33%
    Not provided 4 $630,000 $157,500 $4,069 4.69%
    Asian 1 $35,000 $35,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    96.62%

    Central Bank Of Oklahoma 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
    95.83%

    Central Bank Of Oklahoma 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
    NA 192 $98,910,000 $515,156

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $66,630,000 $11,105,000
    Single Family (1-4 Units):Site-Built 186 $32,280,000 $173,548

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $2,790,000 $348,750 $3,587 5.17%
    40-60% 15 $1,925,000 $128,333 $2,850 5.30%
    60-80% 93 $78,915,000 $848,548 $3,400 5.52%
    80-100% 50 $9,500,000 $190,000 $3,002 5.60%
    Over 100% 17 $5,325,000 $313,235 $0 5.69%
    Under 20% 9 $455,000 $50,556 $3,642 5.58%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CENTRAL BANC MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Central Bank of Oklahoma 12502 East 96th Street North Owasso, OK 74055 Full Service B&M $45,375
    Central Bank of Oklahoma 1358 East 15th Edmond, OK 73013 Full Service B&M $15,347
    Central Bank of Oklahoma 2116 Nelwood Drive Columbia, MO 65202 Full Service Cyber Office $825
    Central Bank of Oklahoma 2410 Southwest Boulevard Tulsa, OK 74107 Full Service B&M $61,843
    Central Bank of Oklahoma 2424 East 21st Street, Suite 100 Tulsa, OK 74114 Full Service B&M $38,223
    Central Bank of Oklahoma 4708 E 91st Street Tulsa, OK 74137 Limited, Drive-thru $0
    Central Bank of Oklahoma 615 S. Mission Sapulpa, OK 74066 Full Service B&M $30,047
    Central Bank of Oklahoma 623 South Main Street Stillwater, OK 74074 Full Service B&M $12,514
    Central Bank of Oklahoma 8908 South Yale Avenue, Suite 100 Tulsa, OK 74137 Full Service B&M $254,865
    Central Bank of Oklahoma 9004 East 61st Street Tulsa, OK 74133 Full Service B&M $63,046

    For 2018, Central Bank Of Oklahoma had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,046
    Net interest income $25,859
    Total noninterest income $2,213
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $960
    Trading account gains and fees $0
    Additional Noninterest Income $1,253
    Pre-tax net operating income $13,468
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,157
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,157
    Minority interest net income $0
    Net income $10,157
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,157

    Central Bank Of Oklahoma's gross interest income from loans was $31,046,000.
    Central Bank Of Oklahoma's net interest income from loans was $25,859,000.
    Central Bank Of Oklahoma's fee based income from loans was $960,000.
    Central Bank Of Oklahoma's net income from loans was $10,157,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,187
    Provision for credit losses $973
    Total noninterest expense $13,631
    Salaries and employee benefits $7,619
    Premises and equipment expense $1,317
    Additional noninterest expense $4,695
    Applicable income taxes $3,311
    Net charge-offs $966
    Cash dividends $12,998

    Central Bank Of Oklahoma's interest expense for loans was $5,187,000.
    Central Bank Of Oklahoma's payroll and benefits expense were $7,619,000.
    Central Bank Of Oklahoma's property, plant and equipment expenses $1,317,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.1%
    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 $528,341
    Deposits held in domestic offices $528,341
    Deposits by Individuals, partnerships, and corporations $516,249
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,562
    Deposits by Commercial banks and other depository institutions in U.S. $2,530
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $25,989
    Demand deposits $23,577
    Nontransaction accounts $502,352
    Money market deposit accounts (MMDAs) $337,408
    Other savings deposits (excluding MMDAs) $12,573
    Total time deposits $152,371
    Total time and savings deposits $504,764
    Noninterest-bearing deposits $127,218
    Interest-bearing deposits $401,123
    Retail deposits $451,283
    IRAs and Keogh plan accounts $13,818
    Brokered deposits $62,541
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $698,387
    Cash & Balances due from depository institutions $10,276
    Interest-bearing balances $8
    Total securities $7,624
    Federal funds sold & reverse repurchase $1,402
    Net loans and leases $597,690
    Loan and leases loss allowance $9,704
    Trading account assets $0
    Bank premises and fixed assets $9,290
    Other real estate owned $2,546
    Goodwill and other intangibles $56,958
    All other assets $12,601

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $698,387
    Total Liabilities $567,601
    Total deposits $528,341
    Interest-bearing deposits $401,123
    Deposits held in domestic offices $528,341
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $15,912
    Trading liabilities $0
    Other borrowed funds $21,000
    Subordinated debt $0
    All other liabilities $2,348

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $597,690
    Loan and leases loss allowance $9,704
    Total loans and leases (domestic) $607,394
    All real estate loans $514,677
    Real estate loans in domestic offices $514,677
    Construction and development loans $73,668
    Residential 1-4 family construction $23,046
    Other construction, all land development and other land $50,622
    Loans secured by nonfarm nonresidential properties $306,048
    Nonfarm nonresidential secured by owner-occupied properties $92,126
    Commercial real estate & other non-farm, non-residential $213,922
    Multifamily residential real estate $28,400
    1-4 family residential loans $105,952
    Farmland loans $609
    Loans held in foreign offices $0
    Farm loans $9
    Commercial and industrial loans $90,887
    To non-U.S. addressees $0
    Loans to individuals $1,963
    Credit card loans $701
    Related Plans $24
    Consumer Auto Loans $418
    Other loans to individuals $820
    All other loans & leases $222
    Loans to foreign governments and official institutions $0
    Other loans $222
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $10,057
    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

    Central Bank of Oklahoma had $597,690,000 of loans outstanding in 2018. $514,677,000 of loans were in real estate loans. $73,668,000 of loans were in development loans. $28,400,000 of loans were in multifamily mortgage loans. $105,952,000 of loans were in 1-4 family mortgage loans. $9,000 of loans were in farm loans. $701,000 of loans were in credit card loans. $418,000 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 329 $84,419 $256,593
    Nonfarm, nonresidential loans - <$100k 49 $1,647 $33,612
    Nonfarm, nonresidential loans - $100-250k 84 $9,173 $109,202
    Nonfarm, nonresidential loans - $250k-1MM 196 $73,599 $375,505
    Commercial & Industrial, US addressed loans - <$1MM 666 $30,313 $45,515
    Commercial & Industrial, US addressed loans - <$100k 486 $6,133 $12,619
    Commercial & Industrial, US addressed loans - $100-250k 90 $7,687 $85,411
    Commercial & Industrial, US addressed loans - $250k-1MM 90 $16,493 $183,256
    Farmland loans - <$1MM 4 $199 $49,750
    Farmland loans - <$100k 1 $10 $10,000
    Farmland loans - $100-250k 2 $187 $93,500
    Farmland loans - $250k-1MM 1 $2 $2,000
    Agriculture operations loans - <$1MM 1 $9 $9,000
    Agriculture operations loans - <$100k 1 $9 $9,000