Central Bank Of Oklahoma Mortgage Rates, Fees & Info

Tulsa, OK

LEI: 549300KLYYCDTN093E29

Tax ID: 73-1578522

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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 Cash Out Refi loans. Central Bank Of Oklahoma has a high proportion of conventional loans. Their top markets by origination volume include: Stillwater, Oklahoma City, and Tulsa among others. We have data for 4 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

    156

    Origination Dollar Volume (All Markets)

    $57,640,000

    Employee count

    83

    Awards

    Central Bank of Oklahoma 30 Year Conventional Loans bronze
    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) 31 $23,015,000 $742,419 $0 5.17%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 66 $21,650,000 $328,030 $5,601 5.72%
    TULSA, OK (FHA|USDA|VA) 57 $12,525,000 $219,737 $3,613 5.12%
    Outside of Metro Areas 2 $450,000 $225,000 $0 5.88%
    Central Bank Of Oklahoma's top markets include Stillwater, Oklahoma City, and Tulsa among others.

    Their top states include:
  • Oklahoma (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.

    RED CROWN
    Similarity Rank: 45
    Tulsa Federal Credit Union
    Similarity Rank: 84
    Central Bank of Oklahoma
    Similarity Rank: 140
    TRUE SKY
    Similarity Rank: 174
    WEOKIE
    Similarity Rank: 243
    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 321
    Intrust Bank
    Similarity Rank: 352
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 352
    TTCU Federal Credit Union
    Similarity Rank: 360
    US Employees O.C. Federal Credit Union
    Similarity Rank: 784

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 156 $57,640,000 $369,487 $3,897 5.39%

    For 2019, Central Bank Of Oklahoma's most frequently originated type of loan was Conventional, with 156 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 105 $39,395,000 $375,190 $3,650 5.31%
    Cash Out Refi 30 $14,040,000 $468,000 $9,993 5.54%
    Refi 17 $3,965,000 $233,235 $3,261 5.57%
    Home Improvement 4 $240,000 $60,000 $0 5.72%

    For 2019, Central Bank Of Oklahoma's most frequently cited loan purpose was Home Purchase, with 105 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 90 $26,810,000 $297,889 $0 5.73%
    10 Year 21 $20,315,000 $967,381 $0 5.25%
    30 Year 18 $4,800,000 $266,667 $3,990 4.26%
    1 Year 11 $2,765,000 $251,364 $2,553 5.37%
    Other 10 $2,220,000 $222,000 $0 5.38%
    3 Year 3 $45,000 $15,000 $0 5.38%
    15 Year 3 $685,000 $228,333 $3,819 3.13%

    For 2019, Central Bank Of Oklahoma's most frequently cited loan duration was 5 Year, with 90 originations. The 2nd most popular length was 10 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 18 $4,770,000 $265,000
    $1k-2k 2 $240,000 $120,000
    $5k+ 1 $315,000 $315,000

    Central Bank Of Oklahoma's average total fees were $3,990, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 108 $33,320,000 $308,519
    4-5% 32 $20,950,000 $654,688
    3-4% 10 $2,690,000 $269,000
    6-7% 4 $270,000 $67,500
    2.5-3% 2 $410,000 $205,000

    During 2019, Central Bank Of Oklahoma's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 5-6%, with 108 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 55 $16,345,000 $297,182 $4,110 5.22%
    $100k-200k 40 $5,870,000 $146,750 $3,716 5.38%
    $100,000 or less 38 $2,300,000 $60,526 $2,553 5.70%
    $400k-600k 12 $5,350,000 $445,833 $3,925 5.22%
    $1MM+ 8 $25,700,000 $3,212,500 $0 5.34%
    $600k-1MM 3 $2,075,000 $691,667 $0 5.42%

    2019 saw Central Bank Of Oklahoma place emphasis on $200k-400k loans with 55 originations, totaling $16,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 11 $3,045,000 $276,818 $4,549 4.99%
    $100k-150k 6 $950,000 $158,333 $3,761 4.98%
    $250k+ 6 $1,320,000 $220,000 $4,470 5.39%
    $50k-75k 6 $980,000 $163,333 $3,794 4.50%
    $75k-100k 5 $1,145,000 $229,000 $3,528 4.08%
    $50k or less 2 $290,000 $145,000 $3,091 4.06%

    Central Bank Of Oklahoma lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 8 $1,600,000 $200,000 $3,596 4.38%
    <20% 6 $1,380,000 $230,000 $3,353 4.73%
    37% 4 $820,000 $205,000 $3,362 4.09%
    42% 4 $1,140,000 $285,000 $9,993 5.71%
    >60% 3 $325,000 $108,333 $0 5.67%
    20-30% 3 $575,000 $191,667 $3,088 5.17%
    44% 2 $340,000 $170,000 $4,123 5.19%
    36% 2 $220,000 $110,000 $4,317 4.63%
    38% 1 $385,000 $385,000 $4,023 3.88%
    39% 1 $215,000 $215,000 $0 5.99%
    47% 1 $445,000 $445,000 $4,218 3.88%
    49% 1 $285,000 $285,000 $3,806 3.88%
    40% 1 $275,000 $275,000 $3,190 3.63%

    Central Bank Of Oklahoma lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? <20%, with 6 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 118 $49,600,000 $420,339 $0 5.58%
    White 34 $6,770,000 $199,118 $3,881 4.74%
    Asian 3 $825,000 $275,000 $0 5.99%
    Not provided 1 $445,000 $445,000 $4,218 3.88%

    Approval Rates

    Total approvals of all applications
    98.13%

    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
    99.36%

    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 156 $57,640,000 $369,487

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $24,075,000 $2,188,636
    Single Family (1-4 Units):Site-Built 145 $33,565,000 $231,483

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $830,000 $138,333 $4,520 4.85%
    40-60% 14 $2,490,000 $177,857 $3,568 5.41%
    60-80% 74 $22,570,000 $305,000 $4,443 5.49%
    80-100% 56 $31,230,000 $557,679 $3,625 5.27%
    Over 100% 1 $265,000 $265,000 $0 5.88%
    Under 20% 5 $255,000 $51,000 $0 5.70%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CENTERSTATE BANK CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%
    CENTERSTATE BANK CORPORATION VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    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 $42,045
    Central Bank of Oklahoma 1358 East 15th Edmond, OK 73013 Full Service B&M $18,851
    Central Bank of Oklahoma 2116 Nelwood Drive Columbia, MO 65202 Full Service Cyber Office $849
    Central Bank of Oklahoma 2410 Southwest Boulevard Tulsa, OK 74107 Full Service B&M $58,997
    Central Bank of Oklahoma 2424 East 21st Street, Suite 100 Tulsa, OK 74114 Full Service B&M $39,382
    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 $29,660
    Central Bank of Oklahoma 623 South Main Street Stillwater, OK 74074 Full Service B&M $13,407
    Central Bank of Oklahoma 8908 South Yale Avenue, Suite 100 Tulsa, OK 74137 Full Service B&M $241,383
    Central Bank of Oklahoma 9004 East 61st Street Tulsa, OK 74133 Full Service B&M $72,353

    For 2019, Central Bank Of Oklahoma had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,139
    Net interest income $25,926
    Total noninterest income $1,946
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $923
    Trading account gains and fees $0
    Additional Noninterest Income $1,023
    Pre-tax net operating income $14,154
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,552
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,552
    Minority interest net income $0
    Net income $10,552
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,552

    Central Bank Of Oklahoma's gross interest income from loans was $33,139,000.
    Central Bank Of Oklahoma's net interest income from loans was $25,926,000.
    Central Bank Of Oklahoma's fee based income from loans was $923,000.
    Central Bank Of Oklahoma's net income from loans was $10,552,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,213
    Provision for credit losses $465
    Total noninterest expense $13,253
    Salaries and employee benefits $7,520
    Premises and equipment expense $1,326
    Additional noninterest expense $4,407
    Applicable income taxes $3,602
    Net charge-offs $585
    Cash dividends $8,000

    Central Bank Of Oklahoma's interest expense for loans was $7,213,000.
    Central Bank Of Oklahoma's payroll and benefits expense were $7,520,000.
    Central Bank Of Oklahoma's property, plant and equipment expenses $1,326,000.

    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 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 2.0%
    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 $544,180
    Deposits held in domestic offices $544,180
    Deposits by Individuals, partnerships, and corporations $529,730
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $10,349
    Deposits by Commercial banks and other depository institutions in U.S. $4,101
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $26,374
    Demand deposits $23,759
    Nontransaction accounts $517,806
    Money market deposit accounts (MMDAs) $343,945
    Other savings deposits (excluding MMDAs) $13,094
    Total time deposits $160,767
    Total time and savings deposits $520,421
    Noninterest-bearing deposits $121,187
    Interest-bearing deposits $422,993
    Retail deposits $454,076
    IRAs and Keogh plan accounts $16,025
    Brokered deposits $63,364
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $703,872
    Cash & Balances due from depository institutions $12,583
    Interest-bearing balances $2,811
    Total securities $28,420
    Federal funds sold & reverse repurchase $1,257
    Net loans and leases $579,431
    Loan and leases loss allowance $9,584
    Trading account assets $0
    Bank premises and fixed assets $11,103
    Other real estate owned $2,046
    Goodwill and other intangibles $56,925
    All other assets $12,107

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $703,872
    Total Liabilities $570,428
    Total deposits $544,180
    Interest-bearing deposits $422,993
    Deposits held in domestic offices $544,180
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $23,410
    Subordinated debt $0
    All other liabilities $2,838

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $579,431
    Loan and leases loss allowance $9,584
    Total loans and leases (domestic) $589,015
    All real estate loans $512,355
    Real estate loans in domestic offices $512,355
    Construction and development loans $69,095
    Residential 1-4 family construction $28,669
    Other construction, all land development and other land $40,426
    Loans secured by nonfarm nonresidential properties $309,693
    Nonfarm nonresidential secured by owner-occupied properties $78,941
    Commercial real estate & other non-farm, non-residential $230,752
    Multifamily residential real estate $23,713
    1-4 family residential loans $109,110
    Farmland loans $744
    Loans held in foreign offices $0
    Farm loans $31
    Commercial and industrial loans $74,978
    To non-U.S. addressees $0
    Loans to individuals $1,969
    Credit card loans $813
    Related Plans $28
    Consumer Auto Loans $359
    Other loans to individuals $769
    All other loans & leases $121
    Loans to foreign governments and official institutions $0
    Other loans $121
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $5,024
    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 $579,431,000 of loans outstanding in 2019. $512,355,000 of loans were in real estate loans. $69,095,000 of loans were in development loans. $23,713,000 of loans were in multifamily mortgage loans. $109,110,000 of loans were in 1-4 family mortgage loans. $31,000 of loans were in farm loans. $813,000 of loans were in credit card loans. $359,000 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 310 $77,999 $251,610
    Nonfarm, nonresidential loans - <$100k 51 $1,792 $35,137
    Nonfarm, nonresidential loans - $100-250k 76 $7,953 $104,645
    Nonfarm, nonresidential loans - $250k-1MM 183 $68,254 $372,973
    Commercial & Industrial, US addressed loans - <$1MM 583 $28,043 $48,101
    Commercial & Industrial, US addressed loans - <$100k 424 $5,140 $12,123
    Commercial & Industrial, US addressed loans - $100-250k 81 $6,498 $80,222
    Commercial & Industrial, US addressed loans - $250k-1MM 78 $16,405 $210,321
    Farmland loans - <$1MM 2 $249 $124,500
    Farmland loans - $100-250k 2 $249 $124,500
    Agriculture operations loans - <$1MM 2 $31 $15,500
    Agriculture operations loans - <$100k 2 $31 $15,500