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 loans. Central Bank Of Oklahoma has a high proportion of conventional loans. Their top markets by origination volume include: Oklahoma City, Tulsa, Edwards, Stillwater, and Muskogee among others. We have data for 12 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 a below 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    214

    Origination Dollar Volume (All Markets)

    $89,480,000

    Employee count

    80

    Awards

    Central Bank of Oklahoma 30 Year Conventional Loans gold
    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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 88 $46,230,000 $525,341 $3,300 4.27%
    TULSA, OK (FHA|USDA|VA) 106 $29,560,000 $278,868 $3,866 3.54%
    Edwards, CO (FHA|USDA|VA) 1 $7,875,000 $7,875,000 $0 4.25%
    Stillwater, OK (FHA|USDA|VA) 7 $2,755,000 $393,571 $3,893 3.70%
    Outside of Metro Areas 5 $1,445,000 $289,000 $4,488 3.63%
    Muskogee, OK (FHA|USDA|VA) 1 $435,000 $435,000 $5,275 4.50%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $295,000 $295,000 $2,883 2.75%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $275,000 $275,000 $4,005 2.75%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,846 3.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $0 5.00%
    Bartlesville, OK (FHA|USDA|VA) 1 $145,000 $145,000 $2,839 2.88%
    LAWTON, OK (FHA|USDA|VA) 1 $55,000 $55,000 $3,053 3.38%
    Central Bank Of Oklahoma's top markets include Oklahoma City, Tulsa, Edwards, Stillwater, and Muskogee among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Texas (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.

    TRUE SKY
    Similarity Rank: 168
    RED CROWN
    Similarity Rank: 408
    WEOKIE
    Similarity Rank: 420
    ALLEGIANCE
    Similarity Rank: 432
    OKLAHOMA CENTRAL Credit Union
    Similarity Rank: 456
    Republic Bank & Trust
    Similarity Rank: 512
    SpiritBank
    Similarity Rank: 606
    Tulsa Federal Credit Union
    Similarity Rank: 819
    US Employees O.C. Federal Credit Union
    Similarity Rank: 836
    Municipal Employees Credit Union of Oklahoma City
    Similarity Rank: 880

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 212 $88,920,000 $419,434 $3,708 3.86%
    VA 2 $560,000 $280,000 $5,580 2.56%

    For 2020, Central Bank Of Oklahoma's most frequently originated type of loan was Conventional, with 212 originations. Their 2nd most popular type was VA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 89 $65,185,000 $732,416 $3,853 4.11%
    Refi 60 $12,860,000 $214,333 $3,540 3.36%
    Cash Out Refi 59 $10,345,000 $175,339 $3,921 3.98%
    Home Improvement 5 $865,000 $173,000 $3,135 3.70%
    Other 1 $225,000 $225,000 $5,025 2.63%

    For 2020, Central Bank Of Oklahoma's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 79 $27,195,000 $344,241 $0 4.83%
    30 Year 71 $19,095,000 $268,944 $3,980 3.23%
    15 Year 28 $6,210,000 $221,786 $3,504 2.74%
    20 Year 14 $3,070,000 $219,286 $2,958 3.23%
    Other 9 $29,395,000 $3,266,111 $4,231 4.00%
    1 Year 5 $1,985,000 $397,000 $0 4.72%
    3 Year 4 $420,000 $105,000 $0 4.56%
    10 Year 4 $2,110,000 $527,500 $3,588 3.31%

    For 2020, Central Bank Of Oklahoma's most frequently cited loan duration was 5 Year, with 79 originations. The 2nd most popular length was 30 Year, with 71 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 105 $25,605,000 $243,857
    $1k-2k 8 $2,680,000 $335,000
    $2k-3k 2 $780,000 $390,000
    $4k-5k 1 $455,000 $455,000

    Central Bank Of Oklahoma's average total fees were $3,980, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 105 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 86 $53,660,000 $623,953
    2.5-3% 64 $16,440,000 $256,875
    3-4% 42 $14,420,000 $343,333
    5-6% 14 $2,350,000 $167,857
    <2.5% 7 $2,525,000 $360,714
    6-7% 1 $85,000 $85,000

    During 2020, Central Bank Of Oklahoma's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 4-5%, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 73 $10,645,000 $145,822 $3,412 3.84%
    $200k-400k 69 $18,775,000 $272,101 $3,685 3.48%
    $100,000 or less 41 $2,625,000 $64,024 $2,951 4.66%
    $400k-600k 23 $11,025,000 $479,348 $4,818 3.28%
    $1MM+ 7 $45,465,000 $6,495,000 $0 4.55%
    $600k-1MM 1 $945,000 $945,000 $0 4.87%

    2020 saw Central Bank Of Oklahoma place emphasis on $100k-200k loans with 73 originations, totaling $10,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 24 $6,720,000 $280,000 $4,079 3.55%
    $100k-150k 23 $5,135,000 $223,261 $3,738 3.16%
    $75k-100k 22 $4,590,000 $208,636 $3,550 3.16%
    $50k-75k 15 $2,965,000 $197,667 $3,833 3.17%
    $50k or less 13 $1,835,000 $141,154 $3,515 3.51%
    $250k+ 11 $3,935,000 $357,727 $3,647 3.17%

    Central Bank Of Oklahoma lent most frequently to those with incomes in the $150k-250k range, with 24 originations. The second most popular income band? $100k-150k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 27 $5,605,000 $207,593 $3,600 3.19%
    <20% 19 $4,025,000 $211,842 $3,656 3.10%
    30-36% 18 $3,850,000 $213,889 $4,116 3.37%
    37% 5 $1,195,000 $239,000 $3,853 2.95%
    >60% 4 $1,060,000 $265,000 $4,883 4.50%
    36% 4 $1,220,000 $305,000 $3,788 3.34%
    39% 4 $900,000 $225,000 $3,589 2.94%
    41% 4 $1,000,000 $250,000 $3,287 3.22%
    43% 4 $830,000 $207,500 $3,466 3.12%
    44% 4 $1,300,000 $325,000 $2,959 3.53%
    38% 3 $655,000 $218,333 $3,843 3.04%
    48% 3 $1,205,000 $401,667 $5,013 2.92%
    45% 3 $785,000 $261,667 $3,487 3.33%
    50-60% 2 $250,000 $125,000 $0 5.75%
    46% 2 $560,000 $280,000 $3,268 2.87%
    40% 2 $560,000 $280,000 $3,871 3.38%
    42% 2 $440,000 $220,000 $3,947 3.31%
    47% 1 $165,000 $165,000 $3,024 2.88%

    Central Bank Of Oklahoma lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? <20%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 86 $58,650,000 $681,977 $0 4.78%
    White 102 $23,310,000 $228,529 $3,677 3.25%
    American Indian 14 $3,660,000 $261,429 $4,127 3.11%
    Not provided 9 $3,035,000 $337,222 $3,989 3.15%
    Korean 1 $295,000 $295,000 $2,883 2.75%
    Black 1 $265,000 $265,000 $3,654 2.99%
    Asian 1 $265,000 $265,000 $3,671 3.25%

    Approval Rates

    Total approvals of all applications
    97.93%

    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
    89.72%

    Central Bank Of Oklahoma has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 214 $89,480,000 $418,131

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $34,385,000 $6,877,000
    Single Family (1-4 Units):Site-Built 209 $55,095,000 $263,612

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 13 $2,165,000 $166,538 $3,015 4.23%
    40-60% 25 $6,495,000 $259,800 $3,659 3.27%
    60-80% 100 $35,540,000 $355,400 $3,762 3.83%
    80-100% 73 $44,985,000 $616,233 $3,935 3.95%
    Under 20% 3 $295,000 $98,333 $1,188 5.00%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CENTERSTATE BANK CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    CENTERSTATE BANK CORPORATION Conventional home mortgage Trouble during payment process 2 50.0%
    CENTERSTATE BANK CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Central Bank of Oklahoma 2424 East 21st Street, Suite 100 Tulsa, OK 74114 Full Service B&M $49,093
    Central Bank of Oklahoma 12502 East 96th Street North Owasso, OK 74055 Full Service B&M $46,877
    Central Bank of Oklahoma 1358 East 15th Edmond, OK 73013 Full Service B&M $22,496
    Central Bank of Oklahoma 2116 Nelwood Drive Columbia, MO 65202 Full Service Cyber Office $927
    Central Bank of Oklahoma 2410 Southwest Boulevard Tulsa, OK 74107 Full Service B&M $60,855
    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 $34,001
    Central Bank of Oklahoma 623 South Main Street Stillwater, OK 74074 Full Service B&M $14,334
    Central Bank of Oklahoma 8908 South Yale Avenue, Suite 100 Tulsa, OK 74137 Full Service B&M $271,503
    Central Bank of Oklahoma 9004 East 61st Street Tulsa, OK 74133 Full Service B&M $94,686

    For 2020, Central Bank Of Oklahoma had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,869
    Net interest income $26,614
    Total noninterest income $2,740
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $756
    Trading account gains and fees $0
    Additional Noninterest Income $1,984
    Pre-tax net operating income $15,685
    Securities gains (or losses, -) $0
    Income before extraordinary items $11,656
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,656
    Minority interest net income $0
    Net income $11,656
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,656

    Central Bank Of Oklahoma's gross interest income from loans was $30,869,000.
    Central Bank Of Oklahoma's net interest income from loans was $26,614,000.
    Central Bank Of Oklahoma's fee based income from loans was $756,000.
    Central Bank Of Oklahoma's net income from loans was $11,656,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,255
    Provision for credit losses $248
    Total noninterest expense $13,421
    Salaries and employee benefits $7,611
    Premises and equipment expense $1,385
    Additional noninterest expense $4,425
    Applicable income taxes $4,029
    Net charge-offs $44
    Cash dividends $9,000

    Central Bank Of Oklahoma's interest expense for loans was $4,255,000.
    Central Bank Of Oklahoma's payroll and benefits expense were $7,611,000.
    Central Bank Of Oklahoma's property, plant and equipment expenses $1,385,000.

    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 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 $588,108
    Deposits held in domestic offices $588,108
    Deposits by Individuals, partnerships, and corporations $576,124
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $6,175
    Deposits by Commercial banks and other depository institutions in U.S. $5,809
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $36,015
    Demand deposits $33,485
    Nontransaction accounts $552,093
    Money market deposit accounts (MMDAs) $396,892
    Other savings deposits (excluding MMDAs) $16,964
    Total time deposits $138,237
    Total time and savings deposits $554,623
    Noninterest-bearing deposits $155,701
    Interest-bearing deposits $432,407
    Retail deposits $529,687
    IRAs and Keogh plan accounts $14,074
    Brokered deposits $29,625
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $756,037
    Cash & Balances due from depository institutions $27,864
    Interest-bearing balances $19,716
    Total securities $35,617
    Federal funds sold & reverse repurchase $1,848
    Net loans and leases $608,817
    Loan and leases loss allowance $9,788
    Trading account assets $0
    Bank premises and fixed assets $11,362
    Other real estate owned $554
    Goodwill and other intangibles $57,006
    All other assets $12,969

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $756,037
    Total Liabilities $619,581
    Total deposits $588,108
    Interest-bearing deposits $432,407
    Deposits held in domestic offices $588,108
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $27,000
    Subordinated debt $0
    All other liabilities $4,473

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $608,817
    Loan and leases loss allowance $9,788
    Total loans and leases (domestic) $618,605
    All real estate loans $526,685
    Real estate loans in domestic offices $526,685
    Construction and development loans $71,892
    Residential 1-4 family construction $28,112
    Other construction, all land development and other land $43,780
    Loans secured by nonfarm nonresidential properties $309,744
    Nonfarm nonresidential secured by owner-occupied properties $79,099
    Commercial real estate & other non-farm, non-residential $230,645
    Multifamily residential real estate $31,790
    1-4 family residential loans $112,682
    Farmland loans $577
    Loans held in foreign offices $0
    Farm loans $10
    Commercial and industrial loans $91,255
    To non-U.S. addressees $0
    Loans to individuals $1,807
    Credit card loans $724
    Related Plans $19
    Consumer Auto Loans $336
    Other loans to individuals $728
    All other loans & leases $55
    Loans to foreign governments and official institutions $0
    Other loans $55
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $6,584
    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 $608,817,000 of loans outstanding in 2020. $526,685,000 of loans were in real estate loans. $71,892,000 of loans were in development loans. $31,790,000 of loans were in multifamily mortgage loans. $112,682,000 of loans were in 1-4 family mortgage loans. $10,000 of loans were in farm loans. $724,000 of loans were in credit card loans. $336,000 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 285 $70,752 $248,253
    Nonfarm, nonresidential loans - <$100k 45 $1,762 $39,156
    Nonfarm, nonresidential loans - $100-250k 69 $7,083 $102,652
    Nonfarm, nonresidential loans - $250k-1MM 171 $61,907 $362,029
    Commercial & Industrial, US addressed loans - <$1MM 1,029 $48,536 $47,168
    Commercial & Industrial, US addressed loans - <$100k 811 $10,690 $13,181
    Commercial & Industrial, US addressed loans - $100-250k 113 $11,716 $103,681
    Commercial & Industrial, US addressed loans - $250k-1MM 105 $26,130 $248,857
    Farmland loans - <$1MM 2 $105 $52,500
    Farmland loans - <$100k 1 $35 $35,000
    Farmland loans - $100-250k 1 $70 $70,000
    Agriculture operations loans - <$1MM 1 $10 $10,000
    Agriculture operations loans - <$100k 1 $10 $10,000