Sullivan Bank Mortgage Rates, Fees & Info

Sullivan, MO

LEI: 549300MK77IBUMJBI791

Tax ID: 43-0170310

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Mortgage Data

Bank Data

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 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, Panama City, Branson, and Rolla among others. We have data for 21 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 an above 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

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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

754

Origination Dollar Volume (All Markets)

$193,340,000

Employee count

130 Show all (5) 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) 421 $98,305,000 $233,504 $2,653 3.32%
SPRINGFIELD, MO (FHA|USDA|VA) 89 $43,575,000 $489,607 $1,852 3.65%
Outside of Metro Areas 192 $38,070,000 $198,281 $1,771 3.40%
PANAMA CITY, FL (FHA|USDA|VA) 1 $2,485,000 $2,485,000 $0 3.25%
Branson, MO (FHA|USDA|VA) 9 $2,275,000 $252,778 $264 3.78%
Rolla, MO (FHA|USDA|VA) 14 $1,810,000 $129,286 $2,190 3.43%
HOT SPRINGS, AR (FHA|USDA|VA) 6 $1,240,000 $206,667 $0 3.80%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $1,090,000 $545,000 $0 3.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $785,000 $785,000 $0 4.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 3 $535,000 $178,333 $1,538 3.76%
Edwards, CO (FHA|USDA|VA) 1 $485,000 $485,000 $1,997 2.75%
COLUMBIA, MO (FHA|USDA|VA) 3 $485,000 $161,667 $1,952 3.25%
PUNTA GORDA, FL (FHA|USDA|VA) 1 $435,000 $435,000 $0 4.00%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 3 $425,000 $141,667 $1,581 2.83%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $325,000 $325,000 $2,752 3.95%
Oxford, MS (FHA|USDA|VA) 1 $295,000 $295,000 $3,030 3.63%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $165,000 $165,000 $1,650 3.00%
Fort Leonard Wood, MO (FHA|USDA|VA) 1 $165,000 $165,000 $4,268 3.38%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,254 3.13%
JOPLIN, MO (FHA|USDA|VA) 2 $120,000 $60,000 $0 4.00%
Laurel, MS (FHA|USDA|VA) 1 $115,000 $115,000 $1,792 3.20%
Sullivan Bank's top markets include St. Louis, Springfield, Panama City, Branson, and Rolla among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Colorado (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.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 728 $189,160,000 $259,835 $2,243 3.40%
    USDA 24 $3,650,000 $152,083 $4,047 3.17%
    FHA 2 $530,000 $265,000 $7,662 3.25%

    For 2021, Sullivan Bank's most frequently originated type of loan was Conventional, with 728 originations. Their 2nd most popular type was USDA, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 388 $96,350,000 $248,325 $2,268 3.58%
    Refi 182 $38,280,000 $210,330 $3,282 3.02%
    Cash Out Refi 169 $57,305,000 $339,083 $1,554 3.32%
    Home Improvement 9 $785,000 $87,222 $738 3.86%
    Other 6 $620,000 $103,333 $1,446 3.48%

    For 2021, Sullivan Bank's most frequently cited loan purpose was Home Purchase, with 388 originations. The 2nd most popular reason was Refi, with 182 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 353 $68,365,000 $193,669 $1,988 3.26%
    Other 161 $63,735,000 $395,870 $1,279 3.85%
    15 Year 98 $12,500,000 $127,551 $4,185 2.61%
    20 Year 62 $15,430,000 $248,871 $1,533 3.56%
    5 Year 51 $28,615,000 $561,078 $863 3.91%
    10 Year 16 $1,700,000 $106,250 $1,910 3.60%
    1 Year 11 $2,355,000 $214,091 $0 4.22%
    3 Year 2 $640,000 $320,000 $0 4.13%

    For 2021, Sullivan Bank's most frequently cited loan duration was 30 Year, with 353 originations. The 2nd most popular length was Other, with 161 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 505 $85,135,000 $168,584
    $1k-2k 2 $530,000 $265,000

    Sullivan Bank's average total fees were $1,988, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 505 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 405 $134,715,000 $332,630
    2.5-3% 178 $33,470,000 $188,034
    <2.5% 88 $12,780,000 $145,227
    4-5% 58 $9,930,000 $171,207
    5-6% 20 $2,100,000 $105,000
    6-7% 4 $320,000 $80,000
    Over 8% 1 $25,000 $25,000

    During 2021, Sullivan Bank's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 3-4%, with 405 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 307 $44,185,000 $143,925 $2,962 3.25%
    $100,000 or less 204 $13,760,000 $67,451 $1,514 3.61%
    $200k-400k 162 $43,360,000 $267,654 $2,033 3.32%
    $400k-600k 41 $19,225,000 $468,902 $2,334 3.38%
    $600k-1MM 21 $15,395,000 $733,095 $3,238 3.78%
    $1MM+ 19 $57,415,000 $3,021,842 $0 3.66%

    2021 saw Sullivan Bank place emphasis on $100k-200k loans with 307 originations, totaling $44,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 123 $17,375,000 $141,260 $1,946 3.11%
    $50k or less 121 $12,185,000 $100,702 $1,901 3.34%
    $100k-150k 109 $20,275,000 $186,009 $4,306 3.22%
    $75k-100k 96 $16,440,000 $171,250 $1,754 3.21%
    $150k-250k 60 $15,210,000 $253,500 $1,869 3.20%
    $250k+ 22 $9,090,000 $413,182 $2,165 3.25%

    Sullivan Bank lent most frequently to those with incomes in the $50k-75k range, with 123 originations. The second most popular income band? $50k or less, with 121 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 195 $30,625,000 $157,051 $3,004 3.08%
    30-36% 78 $12,370,000 $158,590 $2,131 3.14%
    <20% 73 $12,025,000 $164,726 $1,738 3.05%
    36% 18 $3,080,000 $171,111 $2,038 3.09%
    41% 18 $4,180,000 $232,222 $1,919 3.20%
    37% 14 $1,960,000 $140,000 $2,008 2.90%
    39% 14 $2,710,000 $193,571 $2,409 3.00%
    42% 13 $2,635,000 $202,692 $1,888 3.27%
    38% 13 $1,965,000 $151,154 $2,118 3.21%
    40% 12 $1,960,000 $163,333 $2,140 2.98%
    44% 12 $1,910,000 $159,167 $1,446 3.90%
    43% 11 $2,255,000 $205,000 $2,301 3.20%
    >60% 8 $1,450,000 $181,250 $1,374 4.21%
    50-60% 8 $1,710,000 $213,750 $1,699 3.84%
    48% 5 $865,000 $173,000 $1,565 3.16%
    45% 5 $985,000 $197,000 $1,887 2.88%
    46% 3 $785,000 $261,667 $1,750 3.25%
    49% 2 $650,000 $325,000 $2,034 4.35%
    47% 1 $255,000 $255,000 $342 3.00%

    Sullivan Bank lent most frequently to those with DTI ratios of 20-30%, with 195 originations. The next most common DTI ratio? 30-36%, with 78 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 196 $97,600,000 $497,959 $3,400 3.87%
    White 540 $93,230,000 $172,648 $2,340 3.21%
    Not provided 11 $1,635,000 $148,636 $2,996 3.27%
    Black 3 $485,000 $161,667 $3,187 3.36%
    Asian 2 $270,000 $135,000 $1,984 2.38%
    Filipino 1 $95,000 $95,000 $1,657 3.45%
    American Indian 1 $25,000 $25,000 $1,008 9.88%

    Approval Rates

    Total approvals of all applications
    97.95%

    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
    92.18%

    Sullivan Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 754 $193,340,000 $256,419

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    754 $193,340,000 $256,419

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 48 $5,640,000 $117,500 $1,769 3.06%
    40-60% 109 $19,435,000 $178,303 $1,653 3.13%
    60-80% 293 $100,335,000 $342,440 $2,980 3.33%
    80-100% 278 $64,630,000 $232,482 $2,208 3.59%
    Over 100% 5 $615,000 $123,000 $3,246 3.52%
    Under 20% 21 $2,685,000 $127,857 $712 3.71%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Shellpoint Partners, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 148 10.1%
    Shellpoint Partners, LLC Conventional home mortgage Closing on a mortgage 79 5.4%
    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 43 2.9%
    Shellpoint Partners, LLC Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 16 1.1%
    Shellpoint Partners, LLC Conventional home mortgage Struggling to pay mortgage 225 15.4%
    Shellpoint Partners, LLC Conventional home mortgage Trouble during payment process 651 44.6%
    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 14 1.0%
    Shellpoint Partners, LLC FHA mortgage Closing on a mortgage 9 0.6%
    Shellpoint Partners, LLC FHA mortgage Incorrect information on your report 7 0.5%
    Shellpoint Partners, LLC FHA mortgage Problem with a credit reporting company's investigation into an existing problem 5 0.3%
    Shellpoint Partners, LLC FHA mortgage Struggling to pay mortgage 38 2.6%
    Shellpoint Partners, LLC FHA mortgage Trouble during payment process 79 5.4%
    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) Struggling to pay mortgage 2 0.1%
    Shellpoint Partners, LLC Home equity loan or line of credit (HELOC) Trouble during payment process 9 0.6%
    Shellpoint Partners, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 10 0.7%
    Shellpoint Partners, LLC Other type of mortgage Closing on a mortgage 6 0.4%
    Shellpoint Partners, LLC Other type of mortgage Incorrect information on your report 2 0.1%
    Shellpoint Partners, LLC Other type of mortgage Struggling to pay mortgage 21 1.4%
    Shellpoint Partners, LLC Other type of mortgage Trouble during payment process 45 3.1%
    Shellpoint Partners, LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 4 0.3%
    Shellpoint Partners, LLC VA mortgage Closing on a mortgage 1 0.1%
    Shellpoint Partners, LLC VA mortgage Incorrect information on your report 6 0.4%
    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 9 0.6%
    Shellpoint Partners, LLC VA mortgage Trouble during payment process 26 1.8%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sullivan Bank 108 Front Street, Suite 100 Labadie, MO 63055 Full Service B&M $14,995
    Sullivan Bank 1150 N Main Street St. Clair, MO 63077 Full Service B&M $9,944
    Sullivan Bank 13932 North Missouri Highway 5 Sunrise Beach, MO 65079 Full Service B&M $47,595
    Sullivan Bank 2655 South Campbell Avenue Springfield, MO 65807 Full Service B&M $40,542
    Sullivan Bank 318 West Main Street Sullivan, MO 63080 Full Service B&M $272,611
    Sullivan Bank 328 East South Service Center Road Sullivan, MO 63080 Full Service B&M $0
    Sullivan Bank 351 South Oak Union, MO 63084 Full Service B&M $103,191
    Sullivan Bank 514 South Main Pleasant Hope, MO 65725 Full Service B&M $16,685
    Sullivan Bank 700 North Franklin Cuba, MO 65453 Full Service B&M $70,609

    For 2021, Sullivan Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,715
    Net interest income $24,008
    Total noninterest income $4,905
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $622
    Trading account gains and fees $0
    Additional Noninterest Income $4,283
    Pre-tax net operating income $11,468
    Securities gains (or losses, -) $-10
    Income before extraordinary items $9,019
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,019
    Minority interest net income $0
    Net income $9,019
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,026

    Sullivan Bank's gross interest income from loans was $26,715,000.
    Sullivan Bank's net interest income from loans was $24,008,000.
    Sullivan Bank's fee based income from loans was $622,000.
    Sullivan Bank's net income from loans was $9,019,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,707
    Provision for credit losses $1,859
    Total noninterest expense $15,586
    Salaries and employee benefits $9,234
    Premises and equipment expense $1,647
    Additional noninterest expense $4,705
    Applicable income taxes $2,439
    Net charge-offs $-821
    Cash dividends $746

    Sullivan Bank's interest expense for loans was $2,707,000.
    Sullivan Bank's payroll and benefits expense were $9,234,000.
    Sullivan Bank's property, plant and equipment expenses $1,647,000.

    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 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 5.0%
    Credit card loans 0.0%
    Other individual loans 5.0%
    Auto loans 0.0%
    Other consumer loans 23.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $676,660
    Deposits held in domestic offices $676,660
    Deposits by Individuals, partnerships, and corporations $637,947
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $38,468
    Deposits by Commercial banks and other depository institutions in U.S. $245
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $262,867
    Demand deposits $142,263
    Nontransaction accounts $413,793
    Money market deposit accounts (MMDAs) $121,716
    Other savings deposits (excluding MMDAs) $66,510
    Total time deposits $225,565
    Total time and savings deposits $534,397
    Noninterest-bearing deposits $121,142
    Interest-bearing deposits $555,518
    Retail deposits $620,105
    IRAs and Keogh plan accounts $26,915
    Brokered deposits $24,654
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $773,119
    Cash & Balances due from depository institutions $29,358
    Interest-bearing balances $25,040
    Total securities $39,220
    Federal funds sold & reverse repurchase $0
    Net loans and leases $665,202
    Loan and leases loss allowance $9,543
    Trading account assets $0
    Bank premises and fixed assets $11,753
    Other real estate owned $178
    Goodwill and other intangibles $2,509
    All other assets $24,899

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $773,119
    Total Liabilities $703,986
    Total deposits $676,660
    Interest-bearing deposits $555,518
    Deposits held in domestic offices $676,660
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $4,740
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $2,586

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $665,202
    Loan and leases loss allowance $9,543
    Total loans and leases (domestic) $674,745
    All real estate loans $600,068
    Real estate loans in domestic offices $600,068
    Construction and development loans $91,931
    Residential 1-4 family construction $16,115
    Other construction, all land development and other land $75,816
    Loans secured by nonfarm nonresidential properties $175,560
    Nonfarm nonresidential secured by owner-occupied properties $118,501
    Commercial real estate & other non-farm, non-residential $57,059
    Multifamily residential real estate $71,183
    1-4 family residential loans $256,476
    Farmland loans $4,918
    Loans held in foreign offices $0
    Farm loans $228
    Commercial and industrial loans $56,959
    To non-U.S. addressees $0
    Loans to individuals $17,425
    Credit card loans $0
    Related Plans $1,326
    Consumer Auto Loans $13,772
    Other loans to individuals $2,327
    All other loans & leases $65
    Loans to foreign governments and official institutions $0
    Other loans $65
    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 $862
    Non 1-4 family restructured loans & leases $511
    Total loans and leases (foreign) $0

    Sullivan Bank had $665,202,000 of loans outstanding in 2021. $600,068,000 of loans were in real estate loans. $91,931,000 of loans were in development loans. $71,183,000 of loans were in multifamily mortgage loans. $256,476,000 of loans were in 1-4 family mortgage loans. $228,000 of loans were in farm loans. $0 of loans were in credit card loans. $13,772,000 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 $73,817 $259,007
    Nonfarm, nonresidential loans - <$100k 88 $4,158 $47,250
    Nonfarm, nonresidential loans - $100-250k 85 $13,824 $162,635
    Nonfarm, nonresidential loans - $250k-1MM 112 $55,835 $498,527
    Commercial & Industrial, US addressed loans - <$1MM 403 $38,442 $95,390
    Commercial & Industrial, US addressed loans - <$100k 311 $9,338 $30,026
    Commercial & Industrial, US addressed loans - $100-250k 53 $8,706 $164,264
    Commercial & Industrial, US addressed loans - $250k-1MM 39 $20,398 $523,026
    Farmland loans - <$1MM 22 $4,225 $192,045
    Farmland loans - <$100k 9 $372 $41,333
    Farmland loans - $100-250k 5 $758 $151,600
    Farmland loans - $250k-1MM 8 $3,095 $386,875
    Agriculture operations loans - <$1MM 14 $228 $16,286
    Agriculture operations loans - <$100k 14 $228 $16,286