Washington State Bank Mortgage Rates, Fees & Info
Washington, LALEI: 549300KNRT5UGNCSXM31
Tax ID: 72-0347070
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Mortgage Data
Bank Data
Review & Overview
Washington State Bank is a smaller bank specializing in Refi and Home Purchase loans. Washington State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Opelousas, Lafayette, Lake Charles, Jennings, and Alexandria among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Washington State Bank 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.
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Originations
105Origination Dollar Volume (All Markets)
$14,645,000Employee count
56Top 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 |
|---|---|---|---|---|---|
| Opelousas, LA (FHA|USDA|VA) | 52 | $5,500,000 | $105,769 | $0 | 0.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 30 | $4,920,000 | $164,000 | $0 | 0.00% |
| Outside of Metro Areas | 16 | $2,050,000 | $128,125 | $0 | 0.00% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $0 | 0.00% |
| Jennings, LA (FHA|USDA|VA) | 3 | $705,000 | $235,000 | $0 | 0.00% |
| ALEXANDRIA, LA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| Fort Polk South, LA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 105 | $14,645,000 | $139,476 | $0 | 0.00% |
For 2020, Washington State Bank's most frequently originated type of loan was Conventional, with 105 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 63 | $9,355,000 | $148,492 | $0 | 0.00% |
| Home Purchase | 36 | $5,040,000 | $140,000 | $0 | 0.00% |
| Home Improvement | 6 | $250,000 | $41,667 | $0 | 0.00% |
For 2020, Washington State Bank's most frequently cited loan purpose was Refi, with 63 originations. The 2nd most popular reason was Home Purchase, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 105 | $14,645,000 | $139,476 | $0 | 0.00% |
For 2020, Washington State Bank's most frequently cited loan duration was Other, with 105 originations.
Loan Sizing
2020 saw Washington State Bank place emphasis on $100,000 or less loans with 68 originations, totaling $3,310,000 in origination value.
Applicant Income
Washington State Bank lent most frequently to those with incomes in the $50k or less range, with 26 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% | 105 | $14,645,000 | $139,476 | $0 | 0.00% |
Washington State Bank lent most frequently to those with DTI ratios of Exempt%, with 105 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.25%
Washington State Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.62%
Washington State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 105 | $14,645,000 | $139,476 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION | Conventional home mortgage | Trouble during payment process | 2 | 33.3% |
| WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 33.3% |
| WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION | Other type of mortgage | Closing on a mortgage | 1 | 16.7% |
| WASHINGTON FEDERAL BANK, NATIONAL ASSOCIATION | Other type of mortgage | Struggling to pay mortgage | 1 | 16.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Washington State Bank | 103 North Main Street Washington, LA 70589 | Full Service B&M | $49,505 |
| Washington State Bank | 1042 Camellia Boulevard, Suite 9 Lafayette, LA 70508 | Full Service B&M | $23,702 |
| Washington State Bank | 105 West Railroad Palmetto, LA 71358 | Limited, Drive-thru | $3,416 |
| Washington State Bank | 1810 South Union Street Opelousas, LA 70570 | Full Service B&M | $34,562 |
| Washington State Bank | 215 South Second Street Eunice, LA 70535 | Full Service B&M | $20,937 |
| Washington State Bank | 238 Union Street Arnaudville, LA 70512 | Full Service B&M | $65,510 |
| Washington State Bank | 3371 Oscar Rivette Street Leonville, LA 70551 | Limited, Drive-thru | $6,795 |
For 2020, Washington State Bank had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $8,741 |
| Net interest income | $7,038 |
| Total noninterest income | $903 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $324 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $579 |
| Pre-tax net operating income | $618 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $618 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $618 |
| Minority interest net income | $0 |
| Net income | $618 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $618 |
Washington State Bank's gross interest income from loans was $8,741,000.
Washington State Bank's net interest income from loans was $7,038,000.
Washington State Bank's fee based income from loans was $324,000.
Washington State Bank's net income from loans was $618,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,703 |
| Provision for credit losses | $45 |
| Total noninterest expense | $7,278 |
| Salaries and employee benefits | $4,582 |
| Premises and equipment expense | $985 |
| Additional noninterest expense | $1,711 |
| Applicable income taxes | $0 |
| Net charge-offs | $82 |
| Cash dividends | $581 |
Washington State Bank's interest expense for loans was $1,703,000.
Washington State Bank's payroll and benefits expense were $4,582,000.
Washington State Bank's property, plant and equipment expenses $985,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 2.0% |
| Multifamily residential loans | 1.0% |
| 1-4 family residential loans | 4.0% |
| HELOC loans | 0.0% |
| All other family | 4.0% |
| 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 | $225,935 |
| Deposits held in domestic offices | $225,935 |
| Deposits by Individuals, partnerships, and corporations | $195,066 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $30,869 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $95,157 |
| Demand deposits | $72,301 |
| Nontransaction accounts | $130,778 |
| Money market deposit accounts (MMDAs) | $23,075 |
| Other savings deposits (excluding MMDAs) | $27,125 |
| Total time deposits | $80,578 |
| Total time and savings deposits | $153,634 |
| Noninterest-bearing deposits | $72,301 |
| Interest-bearing deposits | $153,634 |
| Retail deposits | $202,678 |
| IRAs and Keogh plan accounts | $7,726 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $249,032 |
| Cash & Balances due from depository institutions | $63,283 |
| Interest-bearing balances | $60,635 |
| Total securities | $22,029 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $153,389 |
| Loan and leases loss allowance | $1,943 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,869 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $6,462 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $249,032 |
| Total Liabilities | $227,311 |
| Total deposits | $225,935 |
| Interest-bearing deposits | $153,634 |
| Deposits held in domestic offices | $225,935 |
| % insured (estimated) | $76 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $1,376 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $153,389 |
| Loan and leases loss allowance | $1,943 |
| Total loans and leases (domestic) | $155,332 |
| All real estate loans | $118,724 |
| Real estate loans in domestic offices | $118,724 |
| Construction and development loans | $14,662 |
| Residential 1-4 family construction | $7,241 |
| Other construction, all land development and other land | $7,421 |
| Loans secured by nonfarm nonresidential properties | $55,594 |
| Nonfarm nonresidential secured by owner-occupied properties | $32,454 |
| Commercial real estate & other non-farm, non-residential | $23,140 |
| Multifamily residential real estate | $6,218 |
| 1-4 family residential loans | $33,239 |
| Farmland loans | $9,011 |
| Loans held in foreign offices | $0 |
| Farm loans | $5,811 |
| Commercial and industrial loans | $25,730 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $5,030 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $591 |
| Other loans to individuals | $4,439 |
| All other loans & leases | $37 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $37 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $26 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Washington State Bank had $153,389,000 of loans outstanding in 2020. $118,724,000 of loans were in real estate loans. $14,662,000 of loans were in development loans. $6,218,000 of loans were in multifamily mortgage loans. $33,239,000 of loans were in 1-4 family mortgage loans. $5,811,000 of loans were in farm loans. $0 of loans were in credit card loans. $591,000 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 | 52 | $17,763 | $341,596 |
| Nonfarm, nonresidential loans - <$100k | 7 | $304 | $43,429 |
| Nonfarm, nonresidential loans - $100-250k | 15 | $2,009 | $133,933 |
| Nonfarm, nonresidential loans - $250k-1MM | 30 | $15,450 | $515,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 120 | $9,510 | $79,250 |
| Commercial & Industrial, US addressed loans - <$100k | 83 | $2,147 | $25,867 |
| Commercial & Industrial, US addressed loans - $100-250k | 20 | $2,117 | $105,850 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 17 | $5,246 | $308,588 |
| Farmland loans - <$1MM | 14 | $1,541 | $110,071 |
| Farmland loans - <$100k | 6 | $341 | $56,833 |
| Farmland loans - $100-250k | 8 | $1,200 | $150,000 |
| Agriculture operations loans - <$1MM | 15 | $825 | $55,000 |
| Agriculture operations loans - <$100k | 9 | $200 | $22,222 |
| Agriculture operations loans - $100-250k | 4 | $282 | $70,500 |
| Agriculture operations loans - $250k-1MM | 2 | $343 | $171,500 |