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 Cash Out Refi loans. Sullivan Bank has a high proportion of conventional 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, Rolla, and Moberly among others. We have data for 10 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% 12/16/24
    30 Year Conventional Refi 6.53% 12/16/24
    30 Year Cash-out Refi 6.80% 12/16/24
    30 Year FHA Purchase 7.14% 12/16/24
    30 Year USDA Purchase 6.42% 12/16/24
    15 Year Conventional Purchase 5.86% 12/16/24
    15 Year Conventional Refi 5.56% 12/16/24
    15 Year Cash-out Refi 5.56% 12/16/24
    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

    430

    Origination Dollar Volume (All Markets)

    $79,300,000

    Employee count

    121

    Awards

    Sullivan Bank 30 Year Conventional Loans gold Sullivan Bank 30 Year Conventional Loans gold Sullivan Bank 30 Year Conventional Loans gold Sullivan Bank USDA Loans bronze
    Show all (4) 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) 248 $47,570,000 $191,815 $2,165 4.72%
    Outside of Metro Areas 135 $22,675,000 $167,963 $1,914 4.98%
    SPRINGFIELD, MO (FHA|USDA|VA) 34 $6,500,000 $191,176 $1,607 5.17%
    Branson, MO (FHA|USDA|VA) 5 $1,275,000 $255,000 $0 5.32%
    Rolla, MO (FHA|USDA|VA) 3 $745,000 $248,333 $968 5.54%
    Moberly, MO (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.50%
    Farmington, MO (FHA|USDA|VA) 1 $105,000 $105,000 $3,624 3.75%
    HOT SPRINGS, AR (FHA|USDA|VA) 1 $85,000 $85,000 $1,955 4.50%
    COLUMBIA, MO (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.25%
    JEFFERSON CITY, MO (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.25%
    Sullivan Bank's top markets include St. Louis, Springfield, Branson, Rolla, and Moberly among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (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.

    WEST COMMUNITY
    Similarity Rank: 190
    United Bank of Union
    Similarity Rank: 275
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 302
    ELECTRO SAVINGS CREDIT UNION
    Similarity Rank: 396
    Dieterich Bank
    Similarity Rank: 442
    CapGrow Home Mortgage, LLC
    Similarity Rank: 450
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 490
    ALLTRU Federal Credit Union
    Similarity Rank: 780
    JERSEY STATE BANK
    Similarity Rank: 792
    Guaranty Bank
    Similarity Rank: 912

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 390 $73,610,000 $188,744 $1,706 4.96%
    USDA 32 $4,240,000 $132,500 $3,902 3.88%
    FHA 5 $925,000 $185,000 $5,959 3.68%
    VA 3 $525,000 $175,000 $4,063 3.67%

    For 2019, Sullivan Bank's most frequently originated type of loan was Conventional, with 390 originations. Their 2nd most popular type was USDA, with 32 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 263 $46,985,000 $178,650 $2,453 4.93%
    Cash Out Refi 76 $15,900,000 $209,211 $1,512 4.94%
    Refi 74 $15,240,000 $205,946 $1,593 4.36%
    Other 9 $755,000 $83,889 $1,344 5.43%
    Home Improvement 8 $420,000 $52,500 $633 5.59%

    For 2019, Sullivan Bank's most frequently cited loan purpose was Home Purchase, with 263 originations. The 2nd most popular reason was Cash Out Refi, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 224 $42,460,000 $189,554 $2,246 4.36%
    Other 148 $31,370,000 $211,959 $1,343 5.48%
    15 Year 23 $2,785,000 $121,087 $1,468 4.47%
    10 Year 19 $1,085,000 $57,105 $1,124 5.66%
    20 Year 13 $1,245,000 $95,769 $1,455 5.63%
    5 Year 2 $100,000 $50,000 $974 6.75%
    3 Year 1 $255,000 $255,000 $2,231 4.63%

    For 2019, Sullivan Bank's most frequently cited loan duration was 30 Year, with 224 originations. The 2nd most popular length was Other, with 148 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 253 $43,775,000 $173,024
    $1k-2k 16 $2,270,000 $141,875

    Sullivan Bank's average total fees were $2,246, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 253 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 149 $24,285,000 $162,987
    3-4% 127 $25,885,000 $203,819
    4-5% 114 $23,660,000 $207,544
    6-7% 32 $4,920,000 $153,750
    Over 8% 4 $140,000 $35,000
    2.5-3% 2 $290,000 $145,000
    7-8% 2 $120,000 $60,000

    During 2019, Sullivan Bank's average interest rate for loans was 4.36%, while their most frequently originated rate bucket for loans was 5-6%, with 149 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 170 $24,630,000 $144,882 $2,441 4.49%
    $100,000 or less 136 $8,120,000 $59,706 $1,435 5.52%
    $200k-400k 90 $24,800,000 $275,556 $2,076 4.58%
    $400k-600k 23 $10,815,000 $470,217 $2,210 4.53%
    $1MM+ 7 $8,255,000 $1,179,286 $0 5.35%
    $600k-1MM 4 $2,680,000 $670,000 $1,262 5.25%

    2019 saw Sullivan Bank place emphasis on $100k-200k loans with 170 originations, totaling $24,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 80 $9,540,000 $119,250 $1,972 4.72%
    $50k or less 70 $7,640,000 $109,143 $2,186 4.80%
    $100k-150k 57 $10,115,000 $177,456 $1,946 4.85%
    $75k-100k 55 $9,575,000 $174,091 $2,137 4.38%
    $150k-250k 37 $9,345,000 $252,568 $1,951 4.42%
    $250k+ 14 $6,160,000 $440,000 $1,868 4.77%

    Sullivan Bank lent most frequently to those with incomes in the $50k-75k range, with 80 originations. The second most popular income band? $50k or less, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 78 $13,820,000 $177,179 $2,161 4.38%
    30-36% 50 $8,210,000 $164,200 $2,073 4.38%
    <20% 38 $5,340,000 $140,526 $1,887 4.60%
    39% 11 $2,135,000 $194,091 $1,651 4.98%
    41% 11 $2,465,000 $224,091 $1,773 4.50%
    36% 11 $2,275,000 $206,818 $2,781 4.35%
    40% 10 $1,080,000 $108,000 $2,257 4.55%
    37% 10 $1,420,000 $142,000 $2,048 4.38%
    >60% 9 $1,035,000 $115,000 $1,196 5.50%
    50-60% 9 $2,275,000 $252,778 $1,966 5.06%
    42% 8 $1,230,000 $153,750 $1,944 4.95%
    43% 7 $625,000 $89,286 $1,796 5.43%
    38% 7 $1,215,000 $173,571 $2,234 4.23%
    44% 4 $590,000 $147,500 $3,069 4.09%
    47% 3 $355,000 $118,333 $1,533 4.63%
    45% 3 $675,000 $225,000 $1,900 4.21%
    46% 2 $200,000 $100,000 $1,799 5.38%
    48% 2 $390,000 $195,000 $2,228 5.44%
    49% 2 $550,000 $275,000 $2,209 3.50%

    Sullivan Bank lent most frequently to those with DTI ratios of 20-30%, with 78 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 323 $54,845,000 $169,799 $2,057 4.67%
    Not applicable 106 $24,290,000 $229,151 $0 5.46%
    Not provided 1 $165,000 $165,000 $1,588 3.00%

    Approval Rates

    Total approvals of all applications
    96.58%

    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
    88.37%

    Sullivan Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 430 $79,300,000 $184,419

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 8 $3,950,000 $493,750
    Multifamily:Site-Built 19 $8,185,000 $430,789
    Single Family (1-4 Units):Manufactured 17 $855,000 $50,294
    Single Family (1-4 Units):Site-Built 386 $66,310,000 $171,788

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $2,510,000 $125,500 $1,409 5.35%
    40-60% 47 $8,115,000 $172,660 $1,536 4.98%
    60-80% 144 $31,630,000 $219,653 $1,767 4.80%
    80-100% 195 $34,775,000 $178,333 $2,438 4.77%
    Over 100% 7 $1,085,000 $155,000 $3,763 4.20%
    Under 20% 16 $1,100,000 $68,750 $965 5.64%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Shellpoint Partners, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 23 2.8%
    Shellpoint Partners, LLC Conventional home mortgage Closing on a mortgage 23 2.8%
    Shellpoint Partners, LLC Conventional home mortgage Improper use of your report 1 0.1%
    Shellpoint Partners, LLC Conventional home mortgage Incorrect information on your report 10 1.2%
    Shellpoint Partners, LLC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 6 0.7%
    Shellpoint Partners, LLC Conventional home mortgage Struggling to pay mortgage 153 18.8%
    Shellpoint Partners, LLC Conventional home mortgage Trouble during payment process 388 47.5%
    Shellpoint Partners, LLC Conventional home mortgage Unable to get your credit report or credit score 1 0.1%
    Shellpoint Partners, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 7 0.9%
    Shellpoint Partners, LLC FHA mortgage Closing on a mortgage 3 0.4%
    Shellpoint Partners, LLC FHA mortgage Incorrect information on your report 3 0.4%
    Shellpoint Partners, LLC FHA mortgage Problem with a credit reporting company's investigation into an existing problem 2 0.2%
    Shellpoint Partners, LLC FHA mortgage Struggling to pay mortgage 24 2.9%
    Shellpoint Partners, LLC FHA mortgage Trouble during payment process 65 8.0%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 0.5%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Closing on a mortgage 1 0.1%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Incorrect information on your report 1 0.1%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 0.1%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 0.1%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Trouble during payment process 9 1.1%
    Shellpoint Partners, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 4 0.5%
    Shellpoint Partners, LLC Other type of mortgage Incorrect information on your report 1 0.1%
    Shellpoint Partners, LLC Other type of mortgage Struggling to pay mortgage 17 2.1%
    Shellpoint Partners, LLC Other type of mortgage Trouble during payment process 24 2.9%
    Shellpoint Partners, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.1%
    Shellpoint Partners, LLC VA mortgage Incorrect information on your report 1 0.1%
    Shellpoint Partners, LLC VA mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.1%
    Shellpoint Partners, LLC VA mortgage Struggling to pay mortgage 12 1.5%
    Shellpoint Partners, LLC VA mortgage Trouble during payment process 29 3.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Sullivan 108 Front Street, Suite 100 Labadie, MO 63055 Full Service B&M $9,797
    Bank of Sullivan 13932 North Missouri Highway 5 Sunrise Beach, MO 65079 Full Service B&M $41,367
    Bank of Sullivan 2655 South Campbell Avenue Springfield, MO 65807 Full Service B&M $42,486
    Bank of Sullivan 318 West Main Street Sullivan, MO 63080 Full Service B&M $221,392
    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 $77,132
    Bank of Sullivan 514 South Main Pleasant Hope, MO 65725 Full Service B&M $16,455
    Bank of Sullivan 700 North Franklin Cuba, MO 65453 Full Service B&M $50,194

    For 2019, Sullivan Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $23,972
    Net interest income $18,618
    Total noninterest income $3,053
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $742
    Trading account gains and fees $0
    Additional Noninterest Income $2,311
    Pre-tax net operating income $7,399
    Securities gains (or losses, -) $323
    Income before extraordinary items $6,224
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,224
    Minority interest net income $0
    Net income $6,224
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,962

    Sullivan Bank's gross interest income from loans was $23,972,000.
    Sullivan Bank's net interest income from loans was $18,618,000.
    Sullivan Bank's fee based income from loans was $742,000.
    Sullivan Bank's net income from loans was $6,224,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,354
    Provision for credit losses $1,200
    Total noninterest expense $13,072
    Salaries and employee benefits $7,664
    Premises and equipment expense $1,327
    Additional noninterest expense $4,081
    Applicable income taxes $1,498
    Net charge-offs $920
    Cash dividends $937

    Sullivan Bank's interest expense for loans was $5,354,000.
    Sullivan Bank's payroll and benefits expense were $7,664,000.
    Sullivan Bank's property, plant and equipment expenses $1,327,000.

    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 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $464,574
    Deposits held in domestic offices $464,574
    Deposits by Individuals, partnerships, and corporations $429,906
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $34,668
    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 $170,206
    Demand deposits $78,918
    Nontransaction accounts $294,368
    Money market deposit accounts (MMDAs) $68,440
    Other savings deposits (excluding MMDAs) $35,531
    Total time deposits $190,399
    Total time and savings deposits $385,656
    Noninterest-bearing deposits $70,957
    Interest-bearing deposits $393,617
    Retail deposits $432,376
    IRAs and Keogh plan accounts $24,284
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $527,864
    Cash & Balances due from depository institutions $10,846
    Interest-bearing balances $7,374
    Total securities $39,231
    Federal funds sold & reverse repurchase $14,909
    Net loans and leases $435,338
    Loan and leases loss allowance $7,011
    Trading account assets $0
    Bank premises and fixed assets $8,149
    Other real estate owned $847
    Goodwill and other intangibles $1,945
    All other assets $16,599

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $527,864
    Total Liabilities $474,817
    Total deposits $464,574
    Interest-bearing deposits $393,617
    Deposits held in domestic offices $464,574
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $8,136
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,107

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $435,338
    Loan and leases loss allowance $7,011
    Total loans and leases (domestic) $442,349
    All real estate loans $377,754
    Real estate loans in domestic offices $377,754
    Construction and development loans $58,659
    Residential 1-4 family construction $15,311
    Other construction, all land development and other land $43,348
    Loans secured by nonfarm nonresidential properties $119,935
    Nonfarm nonresidential secured by owner-occupied properties $75,652
    Commercial real estate & other non-farm, non-residential $44,283
    Multifamily residential real estate $17,560
    1-4 family residential loans $177,102
    Farmland loans $4,498
    Loans held in foreign offices $0
    Farm loans $263
    Commercial and industrial loans $52,281
    To non-U.S. addressees $0
    Loans to individuals $11,849
    Credit card loans $0
    Related Plans $574
    Consumer Auto Loans $8,584
    Other loans to individuals $2,691
    All other loans & leases $202
    Loans to foreign governments and official institutions $0
    Other loans $192
    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 $775
    Non 1-4 family restructured loans & leases $570
    Total loans and leases (foreign) $0

    Sullivan Bank had $435,338,000 of loans outstanding in 2019. $377,754,000 of loans were in real estate loans. $58,659,000 of loans were in development loans. $17,560,000 of loans were in multifamily mortgage loans. $177,102,000 of loans were in 1-4 family mortgage loans. $263,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,584,000 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 261 $59,933 $229,628
    Nonfarm, nonresidential loans - <$100k 87 $4,182 $48,069
    Nonfarm, nonresidential loans - $100-250k 93 $15,352 $165,075
    Nonfarm, nonresidential loans - $250k-1MM 81 $40,399 $498,753
    Commercial & Industrial, US addressed loans - <$1MM 394 $33,106 $84,025
    Commercial & Industrial, US addressed loans - <$100k 308 $8,949 $29,055
    Commercial & Industrial, US addressed loans - $100-250k 55 $9,278 $168,691
    Commercial & Industrial, US addressed loans - $250k-1MM 31 $14,879 $479,968
    Farmland loans - <$1MM 17 $2,572 $151,294
    Farmland loans - <$100k 8 $309 $38,625
    Farmland loans - $100-250k 5 $834 $166,800
    Farmland loans - $250k-1MM 4 $1,429 $357,250
    Agriculture operations loans - <$1MM 17 $263 $15,471
    Agriculture operations loans - <$100k 17 $263 $15,471