Ozarks Federal Savings And Loan Association Mortgage Rates, Fees & Info

Farmington, MO

LEI: 549300M1N0YC51QQGT24

Tax ID: 43-0445932

5 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Ozarks Federal Savings And Loan Association is a smaller mortgage company specializing in Refi and Home Purchase loans. Ozarks Federal Savings And Loan Association has a high proportion of conventional loans. Their top markets include Farmington, St. Louis, Jefferson City, and Cape Girardeau among others. Ozarks Federal Savings And Loan Association has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Ozarks Federal Savings And Loan Association is typically a low fee lendor.


Originations

450

Origination Dollar Volume (All Markets)

$85,990,000

Employee count

57 Show all (5) awards

Relative Rate

Ozarks Federal Savings And Loan Association's average 30 year fixed rate mortgage of loans were 3.14%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.01%.

Relative Fees

Ozarks Federal Savings And Loan Association's average total fees for a 30 year fixed rate mortgage are $1,630.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Farmington, MO (FHA|USDA|VA) 182 $34,960,000 $192,088 $1,815 3.08%
ST. LOUIS, MO-IL (FHA|USDA|VA) 139 $31,995,000 $230,180 $2,234 3.09%
Outside of Metro Areas 126 $18,790,000 $149,127 $1,594 3.19%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $155,000 $155,000 $1,593 3.00%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 2 $90,000 $45,000 $839 4.06%

Ozarks Federal Savings And Loan Association's top markets include Farmington, St. Louis, Jefferson City, and Cape Girardeau among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 450 $85,990,000 $191,089 $1,880 3.12%

For the 2021 period, Ozarks Federal Savings And Loan Association's most frequently originated loan type of loans were Conventional, with 450 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 249 $46,975,000 $188,655 $1,358 2.96%
Home Purchase 172 $37,560,000 $218,372 $2,861 3.23%
Other 16 $610,000 $38,125 $710 3.78%
Home Improvement 9 $455,000 $50,556 $799 3.63%
Cash Out Refi 4 $390,000 $97,500 $1,291 4.34%

For the 2021, Ozarks Federal Savings And Loan Association's most frequently cited loan purpose of loans were Refi, with 249 originations. The 2nd most popular reason of loans were Home Purchase, with 172 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 226 $43,000,000 $190,265 $1,630 3.14%
30+ year 78 $23,640,000 $303,077 $3,811 3.25%
15 Year 62 $7,720,000 $124,516 $1,146 2.62%
20 Year 27 $4,865,000 $180,185 $1,415 3.12%
Other 27 $5,455,000 $202,037 $1,490 3.25%
10 Year 25 $1,055,000 $42,200 $852 3.61%
5 Year 5 $255,000 $51,000 $934 3.08%

For the 2021, Ozarks Federal Savings And Loan Association's most frequently cited loan length of loans were 30 Year, with 226 originations. The 2nd most popular length of loans were 30+ year, with 78 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 366 $60,660,000 $165,738
$2k-3k 33 $10,675,000 $323,485
$1k-2k 28 $6,240,000 $222,857
$3k-4k 9 $3,835,000 $426,111
$5k+ 1 $975,000 $975,000

$1,630 of loans were Ozarks Federal Savings And Loan Association's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 366 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 249 $52,385,000 $210,382
3-4% 148 $26,550,000 $179,392
<2.5% 31 $4,625,000 $149,194
4-5% 21 $2,415,000 $115,000
5-6% 1 $15,000 $15,000

During 2021, Ozarks Federal Savings And Loan Association's average interest rate of loans were 3.14%, while their most frequently originated rate bucket of loans were 2.5-3%, with 249 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 165 $23,755,000 $143,970 $1,515 3.06%
$200k-400k 136 $37,530,000 $275,956 $2,438 3.10%
$100,000 or less 116 $7,240,000 $62,414 $1,169 3.27%
$400k-600k 30 $14,180,000 $472,667 $3,667 2.95%
$600k-1MM 2 $1,580,000 $790,000 $7,093 2.88%
$1MM+ 1 $1,705,000 $1,705,000 $0 3.00%

2021 saw Ozarks Federal Savings And Loan Association place emphasis on $100k-200k loans with 165 originations, totaling $23,755,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 127 $30,745,000 $242,087 $2,292 3.07%
$50k or less 98 $9,370,000 $95,612 $1,393 3.15%
$50k-75k 87 $12,565,000 $144,425 $1,685 3.13%
$75k-100k 81 $14,325,000 $176,852 $1,759 3.14%
$150k-250k 38 $12,530,000 $329,737 $2,304 2.99%
$250k+ 5 $2,295,000 $459,000 $2,958 2.70%

Ozarks Federal Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $50k or less, with 98 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 126 $23,940,000 $190,000 $1,814 2.98%
30-36% 87 $15,675,000 $180,172 $1,840 3.19%
<20% 69 $10,645,000 $154,275 $1,604 3.02%
38% 23 $4,135,000 $179,783 $1,787 3.35%
39% 18 $3,790,000 $210,556 $2,140 3.15%
43% 17 $3,415,000 $200,882 $1,685 2.95%
37% 17 $3,865,000 $227,353 $2,136 3.04%
41% 15 $2,805,000 $187,000 $1,948 3.48%
44% 15 $3,555,000 $237,000 $2,585 3.29%
36% 12 $2,490,000 $207,500 $2,281 3.31%
40% 10 $1,690,000 $169,000 $1,764 3.14%
42% 8 $1,700,000 $212,500 $1,914 3.00%
46% 5 $1,175,000 $235,000 $2,802 2.83%
48% 3 $725,000 $241,667 $3,255 3.08%
49% 3 $845,000 $281,667 $2,375 3.21%
50-60% 3 $525,000 $175,000 $2,354 3.42%
47% 2 $230,000 $115,000 $1,693 3.06%
45% 2 $410,000 $205,000 $1,502 2.88%
>60% 1 $355,000 $355,000 $2,751 3.75%

Ozarks Federal Savings And Loan Association lent most frequently to those with DTI ratios of 20-30%, with 126 originations. The next most common DTI ratio? 30-36%, with 87 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 409 $75,835,000 $185,416 $1,844 3.11%
Not provided 27 $6,415,000 $237,593 $2,485 3.07%
Not applicable 12 $3,560,000 $296,667 $1,911 3.66%
Black 1 $145,000 $145,000 $1,222 2.88%
Asian 1 $35,000 $35,000 $1,114 2.63%

Approval Rates

Total approvals of all applications
91.74%

Ozarks Federal Savings And Loan Association has an average approval rate.

Pick Rate

Approvals leading to origination
85.81%

Ozarks Federal Savings And Loan Association has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 450 $85,990,000 $191,089

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
450 $85,990,000 $191,089

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 30 $2,790,000 $93,000 $1,277 2.98%
40-60% 70 $9,780,000 $139,714 $1,806 3.10%
60-80% 202 $42,670,000 $211,238 $1,828 3.04%
80-100% 131 $30,225,000 $230,725 $2,297 3.20%
Under 20% 17 $525,000 $30,882 $733 3.71%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Ozarks Federal Savings and Loan Association 1 Walton Drive Potosi, MO 63664 Full Service B&M $13,945
Ozarks Federal Savings and Loan Association 2 East Columbia Farmington, MO 63640 Full Service B&M $89,301
Ozarks Federal Savings and Loan Association 211 South Main Street Ironton, MO 63650 Full Service B&M $32,567
Ozarks Federal Savings and Loan Association 217 West Main Fredericktown, MO 63645 Full Service B&M $20,439
Ozarks Federal Savings and Loan Association 643 North Creek Drive Festus, MO 63028 Full Service B&M $47,510

For 2021, Ozarks Federal Savings And Loan Association had 5 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $7,350
Net interest income $6,025
Total noninterest income $1,589
Gross Fiduciary activities income $0
Service charges on deposit accounts $42
Trading account gains and fees $0
Additional Noninterest Income $1,547
Pre-tax net operating income $1,221
Securities gains (or losses, -) $0
Income before extraordinary items $956
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $956
Minority interest net income $0
Net income $956
Sale, conversion, retirement of capital stock, net $0
Net operating income $956

Ozarks Federal Savings And Loan Association's gross interest income from loans was $7,350,000.
Ozarks Federal Savings And Loan Association's net interest income from loans was $6,025,000.
Ozarks Federal Savings And Loan Association's fee based income from loans was $42,000.
Ozarks Federal Savings And Loan Association's net income from loans was $956,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,325
Provision for credit losses $-140
Total noninterest expense $6,533
Salaries and employee benefits $3,988
Premises and equipment expense $637
Additional noninterest expense $1,908
Applicable income taxes $265
Net charge-offs $-7
Cash dividends $0

Ozarks Federal Savings And Loan Association's interest expense for loans was $1,325,000.
Ozarks Federal Savings And Loan Association's payroll and benefits expense were $3,988,000.
Ozarks Federal Savings And Loan Association's property, plant and equipment expenses $637,000.

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 0.0%
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 $195,953
Deposits held in domestic offices $195,953
Deposits by Individuals, partnerships, and corporations $192,606
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $3,343
Deposits by Commercial banks and other depository institutions in U.S. $4
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $53,589
Demand deposits $11,447
Nontransaction accounts $142,364
Money market deposit accounts (MMDAs) $26,285
Other savings deposits (excluding MMDAs) $26,899
Total time deposits $89,180
Total time and savings deposits $184,506
Noninterest-bearing deposits $14,463
Interest-bearing deposits $181,490
Retail deposits $190,274
IRAs and Keogh plan accounts $15,798
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $244,139
Cash & Balances due from depository institutions $39,125
Interest-bearing balances $36,567
Total securities $18,477
Federal funds sold & reverse repurchase $0
Net loans and leases $163,711
Loan and leases loss allowance $1,122
Trading account assets $0
Bank premises and fixed assets $5,958
Other real estate owned $45
Goodwill and other intangibles $413
All other assets $16,410

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $244,139
Total Liabilities $206,810
Total deposits $195,953
Interest-bearing deposits $181,490
Deposits held in domestic offices $195,953
% insured (estimated) $95
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $8,189
Subordinated debt $0
All other liabilities $2,668

Issued Loan Types

Type Value (in 000's)
Net loans and leases $163,711
Loan and leases loss allowance $1,122
Total loans and leases (domestic) $164,833
All real estate loans $164,523
Real estate loans in domestic offices $164,523
Construction and development loans $15,404
Residential 1-4 family construction $9,594
Other construction, all land development and other land $5,810
Loans secured by nonfarm nonresidential properties $7,744
Nonfarm nonresidential secured by owner-occupied properties $3,187
Commercial real estate & other non-farm, non-residential $4,557
Multifamily residential real estate $7,263
1-4 family residential loans $134,112
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $0
To non-U.S. addressees $0
Loans to individuals $310
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $310
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
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 $123
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Ozarks Federal Savings and Loan Association had $163,711,000 of loans outstanding in 2021. $164,523,000 of loans were in real estate loans. $15,404,000 of loans were in development loans. $7,263,000 of loans were in multifamily mortgage loans. $134,112,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 32 $5,464 $170,750
Nonfarm, nonresidential loans - <$100k 6 $244 $40,667
Nonfarm, nonresidential loans - $100-250k 14 $1,324 $94,571
Nonfarm, nonresidential loans - $250k-1MM 12 $3,896 $324,667