Sullivan Bank Mortgage Rates, Fees & Info

Sullivan, MO

LEI: 549300MK77IBUMJBI791

Tax ID: 43-0170310

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Sullivan Bank is a smaller bank specializing in Home Purchase and Refi loans. Sullivan Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: St. Louis, Springfield, Branson, Fort Leonard Wood, and San Diego among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sullivan 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. Sullivan Bank 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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.74% 4/21/24
    30 Year Conventional Refi 6.53% 4/21/24
    30 Year Cash-out Refi 6.80% 4/21/24
    30 Year FHA Purchase 7.14% 4/21/24
    30 Year USDA Purchase 6.42% 4/21/24
    15 Year Conventional Purchase 5.86% 4/21/24
    15 Year Conventional Refi 5.56% 4/21/24
    15 Year Cash-out Refi 5.56% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Sullivan Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Sullivan Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    408

    Origination Dollar Volume (All Markets)

    $73,140,000

    Employee count

    119

    Awards

    Sullivan Bank 30 Year Conventional Loans gold Sullivan Bank 30 Year Conventional Loans gold Sullivan Bank 30 Year Conventional Loans gold
    Show all (3) 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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 229 $37,935,000 $165,655 $2,104 4.91%
    Outside of Metro Areas 136 $20,730,000 $152,426 $1,579 5.05%
    SPRINGFIELD, MO (FHA|USDA|VA) 25 $8,235,000 $329,400 $2,158 5.05%
    Branson, MO (FHA|USDA|VA) 6 $2,150,000 $358,333 $2,297 5.13%
    Fort Leonard Wood, MO (FHA|USDA|VA) 2 $1,630,000 $815,000 $0 5.25%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $885,000 $885,000 $3,361 4.00%
    Rolla, MO (FHA|USDA|VA) 4 $770,000 $192,500 $2,360 4.66%
    Lebanon, MO (FHA|USDA|VA) 2 $410,000 $205,000 $1,791 4.75%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $145,000 $145,000 $1,906 5.00%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.88%
    Farmington, MO (FHA|USDA|VA) 1 $115,000 $115,000 $3,327 4.63%
    Sullivan Bank's top markets include St. Louis, Springfield, Branson, Fort Leonard Wood, and San Diego among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Similar Lenders

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

    Ozarks Federal Savings and Loan Association
    Similarity Rank: 100
    Community Bank of Trenton
    Similarity Rank: 108
    First National Bank of Waterloo
    Similarity Rank: 200
    RELIANCE BANK
    Similarity Rank: 238
    CapGrow Home Mortgage, LLC
    Similarity Rank: 272
    JERSEY STATE BANK
    Similarity Rank: 354
    Farmers and Merchants Bank of St. Clair
    Similarity Rank: 408
    United Bank of Union
    Similarity Rank: 415
    HNB National Bank
    Similarity Rank: 576
    Bank of Hillsboro
    Similarity Rank: 679

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 375 $68,755,000 $183,347 $1,643 5.01%
    USDA 27 $3,505,000 $129,815 $3,683 4.49%
    FHA 5 $725,000 $145,000 $5,199 4.40%
    VA 1 $155,000 $155,000 $3,302 4.63%

    For 2018, Sullivan Bank's most frequently originated type of loan was Conventional, with 375 originations. Their 2nd most popular type was USDA, with 27 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 262 $41,700,000 $159,160 $2,283 4.88%
    Refi 67 $15,535,000 $231,866 $1,417 4.98%
    Cash Out Refi 56 $14,230,000 $254,107 $1,332 5.03%
    Other 17 $1,395,000 $82,059 $1,154 5.76%
    Home Improvement 6 $280,000 $46,667 $861 5.58%

    For 2018, Sullivan Bank's most frequently cited loan purpose was Home Purchase, with 262 originations. The 2nd most popular reason was Refi, with 67 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 206 $39,270,000 $190,631 $2,122 4.73%
    Other 142 $28,640,000 $201,690 $1,411 5.10%
    20 Year 26 $3,070,000 $118,077 $1,251 4.99%
    15 Year 20 $1,540,000 $77,000 $1,542 5.78%
    10 Year 11 $495,000 $45,000 $977 5.35%
    5 Year 2 $60,000 $30,000 $495 7.50%
    3 Year 1 $65,000 $65,000 $693 6.75%

    For 2018, Sullivan Bank's most frequently cited loan duration was 30 Year, with 206 originations. The 2nd most popular length was Other, with 142 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 240 $38,700,000 $161,250
    $1k-2k 15 $3,425,000 $228,333
    $2k-3k 1 $105,000 $105,000

    Sullivan Bank's average total fees were $2,122, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 240 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 269 $54,265,000 $201,729
    5-6% 121 $15,915,000 $131,529
    3-4% 8 $2,400,000 $300,000
    6-7% 4 $320,000 $80,000
    Over 8% 4 $150,000 $37,500
    7-8% 2 $90,000 $45,000

    During 2018, Sullivan Bank's average interest rate for loans was 4.73%, while their most frequently originated rate bucket for loans was 4-5%, with 269 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 158 $23,190,000 $146,772 $2,226 4.82%
    $100,000 or less 153 $9,275,000 $60,621 $1,442 5.25%
    $200k-400k 69 $18,525,000 $268,478 $1,916 4.71%
    $400k-600k 15 $6,995,000 $466,333 $2,429 4.90%
    $600k-1MM 10 $7,680,000 $768,000 $2,262 4.74%
    $1MM+ 3 $7,475,000 $2,491,667 $0 4.83%

    2018 saw Sullivan Bank place emphasis on $100k-200k loans with 158 originations, totaling $23,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 78 $10,060,000 $128,974 $2,266 4.76%
    $50k or less 75 $6,725,000 $89,667 $1,500 5.12%
    $75k-100k 51 $6,905,000 $135,392 $1,766 5.12%
    $100k-150k 42 $8,210,000 $195,476 $1,776 4.80%
    $150k-250k 26 $7,230,000 $278,077 $2,205 4.74%
    $250k+ 16 $8,050,000 $503,125 $2,173 4.71%

    Sullivan Bank lent most frequently to those with incomes in the $50k-75k range, with 78 originations. The second most popular income band? $50k or less, with 75 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 82 $14,170,000 $172,805 $1,856 4.92%
    30-36% 61 $9,635,000 $157,951 $2,008 4.83%
    <20% 33 $6,645,000 $201,364 $2,311 4.63%
    >60% 12 $1,830,000 $152,500 $748 5.26%
    40% 12 $1,180,000 $98,333 $1,695 5.57%
    36% 8 $1,450,000 $181,250 $2,339 4.55%
    50-60% 8 $1,110,000 $138,750 $1,179 5.06%
    37% 7 $1,195,000 $170,714 $2,401 4.73%
    39% 6 $800,000 $133,333 $1,901 4.63%
    41% 5 $535,000 $107,000 $2,659 5.23%
    38% 4 $1,320,000 $330,000 $1,528 4.81%
    43% 4 $960,000 $240,000 $1,585 4.91%
    44% 4 $680,000 $170,000 $1,946 4.72%
    47% 4 $420,000 $105,000 $1,671 4.69%
    48% 4 $440,000 $110,000 $1,391 4.88%
    49% 3 $505,000 $168,333 $1,463 5.25%
    46% 3 $395,000 $131,667 $3,340 5.04%
    42% 2 $310,000 $155,000 $1,987 4.63%
    45% 1 $55,000 $55,000 $1,231 4.88%

    Sullivan Bank lent most frequently to those with DTI ratios of 20-30%, with 82 originations. The next most common DTI ratio? 30-36%, with 61 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 292 $47,710,000 $163,390 $1,918 4.91%
    Not applicable 108 $24,410,000 $226,019 $2,243 5.11%
    Not provided 3 $585,000 $195,000 $2,573 4.79%
    American Indian 1 $175,000 $175,000 $1,652 4.50%
    Asian 1 $135,000 $135,000 $1,821 4.88%
    Black 3 $125,000 $41,667 $1,181 5.33%

    Approval Rates

    Total approvals of all applications
    95.87%

    Sullivan Bank 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
    87.25%

    Sullivan Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 408 $73,140,000 $179,265

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 6 $1,260,000 $210,000
    Multifamily:Site-Built 23 $13,835,000 $601,522
    Single Family (1-4 Units):Manufactured 17 $1,025,000 $60,294
    Single Family (1-4 Units):Site-Built 362 $57,020,000 $157,514

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $2,655,000 $98,333 $1,196 5.51%
    40-60% 50 $8,860,000 $177,200 $1,808 5.10%
    60-80% 134 $28,150,000 $210,075 $1,636 4.99%
    80-100% 174 $30,400,000 $174,713 $2,254 4.81%
    Over 100% 6 $1,550,000 $258,333 $2,618 4.70%
    Under 20% 17 $1,525,000 $89,706 $612 5.19%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Shellpoint Partners, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 2.3%
    Shellpoint Partners, LLC Conventional home mortgage Closing on a mortgage 12 2.8%
    Shellpoint Partners, LLC Conventional home mortgage Improper use of your report 1 0.2%
    Shellpoint Partners, LLC Conventional home mortgage Incorrect information on your report 7 1.6%
    Shellpoint Partners, LLC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.2%
    Shellpoint Partners, LLC Conventional home mortgage Struggling to pay mortgage 147 34.2%
    Shellpoint Partners, LLC Conventional home mortgage Trouble during payment process 124 28.8%
    Shellpoint Partners, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 4 0.9%
    Shellpoint Partners, LLC FHA mortgage Closing on a mortgage 3 0.7%
    Shellpoint Partners, LLC FHA mortgage Incorrect information on your report 4 0.9%
    Shellpoint Partners, LLC FHA mortgage Struggling to pay mortgage 14 3.3%
    Shellpoint Partners, LLC FHA mortgage Trouble during payment process 23 5.3%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 0.2%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Closing on a mortgage 1 0.2%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 3 0.7%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Trouble during payment process 6 1.4%
    Shellpoint Partners, LLC Other type of mortgage Closing on a mortgage 2 0.5%
    Shellpoint Partners, LLC Other type of mortgage Struggling to pay mortgage 28 6.5%
    Shellpoint Partners, LLC Other type of mortgage Trouble during payment process 21 4.9%
    Shellpoint Partners, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.5%
    Shellpoint Partners, LLC VA mortgage Closing on a mortgage 1 0.2%
    Shellpoint Partners, LLC VA mortgage Improper use of your report 1 0.2%
    Shellpoint Partners, LLC VA mortgage Struggling to pay mortgage 2 0.5%
    Shellpoint Partners, LLC VA mortgage Trouble during payment process 12 2.8%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Sullivan 108 Front Street Labadie, MO 63055 Full Service B&M $9,447
    Bank of Sullivan 13932 North Missouri Highway 5 Sunrise Beach, MO 65079 Full Service B&M $38,113
    Bank of Sullivan 2655 South Campbell Avenue Springfield, MO 65807 Full Service B&M $35,165
    Bank of Sullivan 318 West Main Street Sullivan, MO 63080 Full Service B&M $199,802
    Bank of Sullivan 328 East South Service Center Road Sullivan, MO 63080 Full Service B&M $0
    Bank of Sullivan 351 South Oak Union, MO 63084 Full Service B&M $72,384
    Bank of Sullivan 514 South Main Pleasant Hope, MO 65725 Full Service B&M $17,074
    Bank of Sullivan 700 North Franklin Cuba, MO 65453 Full Service B&M $43,769

    For 2018, Sullivan Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,556
    Net interest income $17,654
    Total noninterest income $2,497
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $813
    Trading account gains and fees $0
    Additional Noninterest Income $1,684
    Pre-tax net operating income $6,680
    Securities gains (or losses, -) $4
    Income before extraordinary items $5,537
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,537
    Minority interest net income $0
    Net income $5,537
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,533

    Sullivan Bank's gross interest income from loans was $21,556,000.
    Sullivan Bank's net interest income from loans was $17,654,000.
    Sullivan Bank's fee based income from loans was $813,000.
    Sullivan Bank's net income from loans was $5,537,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,902
    Provision for credit losses $1,208
    Total noninterest expense $12,263
    Salaries and employee benefits $7,397
    Premises and equipment expense $1,013
    Additional noninterest expense $3,853
    Applicable income taxes $1,147
    Net charge-offs $729
    Cash dividends $845

    Sullivan Bank's interest expense for loans was $3,902,000.
    Sullivan Bank's payroll and benefits expense were $7,397,000.
    Sullivan Bank's property, plant and equipment expenses $1,013,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 2.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 3.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $421,163
    Deposits held in domestic offices $421,163
    Deposits by Individuals, partnerships, and corporations $385,540
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,622
    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 $150,028
    Demand deposits $67,188
    Nontransaction accounts $271,134
    Money market deposit accounts (MMDAs) $70,738
    Other savings deposits (excluding MMDAs) $29,234
    Total time deposits $171,162
    Total time and savings deposits $353,974
    Noninterest-bearing deposits $60,511
    Interest-bearing deposits $360,652
    Retail deposits $393,503
    IRAs and Keogh plan accounts $23,227
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $495,007
    Cash & Balances due from depository institutions $10,872
    Interest-bearing balances $6,634
    Total securities $37,568
    Federal funds sold & reverse repurchase $0
    Net loans and leases $421,100
    Loan and leases loss allowance $6,754
    Trading account assets $0
    Bank premises and fixed assets $7,590
    Other real estate owned $400
    Goodwill and other intangibles $1,851
    All other assets $15,626

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $495,006
    Total Liabilities $448,088
    Total deposits $421,163
    Interest-bearing deposits $360,652
    Deposits held in domestic offices $421,163
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $9,154
    Trading liabilities $0
    Other borrowed funds $15,975
    Subordinated debt $0
    All other liabilities $1,796

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $421,100
    Loan and leases loss allowance $6,754
    Total loans and leases (domestic) $427,854
    All real estate loans $371,198
    Real estate loans in domestic offices $371,198
    Construction and development loans $56,523
    Residential 1-4 family construction $12,232
    Other construction, all land development and other land $44,291
    Loans secured by nonfarm nonresidential properties $116,659
    Nonfarm nonresidential secured by owner-occupied properties $78,424
    Commercial real estate & other non-farm, non-residential $38,235
    Multifamily residential real estate $15,081
    1-4 family residential loans $178,569
    Farmland loans $4,366
    Loans held in foreign offices $0
    Farm loans $126
    Commercial and industrial loans $45,027
    To non-U.S. addressees $0
    Loans to individuals $11,321
    Credit card loans $0
    Related Plans $600
    Consumer Auto Loans $8,272
    Other loans to individuals $2,449
    All other loans & leases $182
    Loans to foreign governments and official institutions $0
    Other loans $163
    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 $843
    Non 1-4 family restructured loans & leases $630
    Total loans and leases (foreign) $0

    Sullivan Bank had $421,100,000 of loans outstanding in 2018. $371,198,000 of loans were in real estate loans. $56,523,000 of loans were in development loans. $15,081,000 of loans were in multifamily mortgage loans. $178,569,000 of loans were in 1-4 family mortgage loans. $126,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,272,000 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 287 $64,996 $226,467
    Nonfarm, nonresidential loans - <$100k 105 $5,174 $49,276
    Nonfarm, nonresidential loans - $100-250k 94 $15,619 $166,160
    Nonfarm, nonresidential loans - $250k-1MM 88 $44,203 $502,307
    Commercial & Industrial, US addressed loans - <$1MM 389 $35,975 $92,481
    Commercial & Industrial, US addressed loans - <$100k 306 $8,374 $27,366
    Commercial & Industrial, US addressed loans - $100-250k 44 $7,638 $173,591
    Commercial & Industrial, US addressed loans - $250k-1MM 39 $19,963 $511,872
    Farmland loans - <$1MM 16 $2,305 $144,063
    Farmland loans - <$100k 6 $198 $33,000
    Farmland loans - $100-250k 8 $1,286 $160,750
    Farmland loans - $250k-1MM 2 $821 $410,500
    Agriculture operations loans - <$1MM 8 $126 $15,750
    Agriculture operations loans - <$100k 8 $126 $15,750