Ameristate Bank Mortgage Rates, Fees & Info

Atoka, OK

LEI: 549300NXKD4J4RBJI403

Tax ID: 73-0133600

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Ameristate Bank is a smaller bank specializing in Home Purchase and Refi loans. Ameristate Bank has a high proportion of conventional loans. Their top (well, only) market is Sherman.

    Ameristate Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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.

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    Originations

    86

    Origination Dollar Volume (All Markets)

    $19,150,000

    Employee count

    73

    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
    Outside of Metro Areas 72 $17,480,000 $242,778 $0 0.00%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 14 $1,670,000 $119,286 $0 0.00%
    Ameristate Bank's top markets include and Sherman among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $19,150,000 $222,674 $0 0.00%

    For 2020, Ameristate Bank's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 49 $10,865,000 $221,735 $0 0.00%
    Refi 24 $7,360,000 $306,667 $0 0.00%
    Home Improvement 9 $675,000 $75,000 $0 0.00%
    Other 4 $250,000 $62,500 $0 0.00%

    For 2020, Ameristate Bank's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 86 $19,150,000 $222,674 $0 0.00%

    For 2020, Ameristate Bank's most frequently cited loan duration was Other, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 40 $2,060,000 $51,500 $0 0.00%
    $100k-200k 28 $3,670,000 $131,071 $0 0.00%
    $200k-400k 13 $3,835,000 $295,000 $0 0.00%
    $1MM+ 3 $8,545,000 $2,848,333 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%
    $600k-1MM 1 $615,000 $615,000 $0 0.00%

    2020 saw Ameristate Bank place emphasis on $100,000 or less loans with 40 originations, totaling $2,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 16 $1,890,000 $118,125 $0 0.00%
    $100k-150k 11 $1,095,000 $99,545 $0 0.00%
    $250k+ 11 $1,615,000 $146,818 $0 0.00%
    $50k or less 11 $585,000 $53,182 $0 0.00%
    $150k-250k 7 $1,505,000 $215,000 $0 0.00%
    $75k-100k 7 $1,015,000 $145,000 $0 0.00%

    Ameristate Bank lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 86 $19,150,000 $222,674 $0 0.00%

    Ameristate Bank lent most frequently to those with DTI ratios of Exempt%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 14 $10,640,000 $760,000 $0 0.00%
    White 60 $7,480,000 $124,667 $0 0.00%
    American Indian 11 $925,000 $84,091 $0 0.00%
    Not provided 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    75.34%

    Ameristate Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.88%

    Ameristate Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 86 $19,150,000 $222,674

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $275,000 $275,000
    Multifamily:Site-Built 6 $9,530,000 $1,588,333
    Single Family (1-4 Units):Manufactured 8 $430,000 $53,750
    Single Family (1-4 Units):Site-Built 71 $8,915,000 $125,563

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    AMERIS BANCORP Conventional home mortgage Struggling to pay mortgage 3 7.3%
    AMERIS BANCORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 4.9%
    AMERIS BANCORP Conventional home mortgage Closing on a mortgage 1 2.4%
    AMERIS BANCORP VA mortgage Trouble during payment process 6 14.6%
    AMERIS BANCORP VA mortgage Struggling to pay mortgage 1 2.4%
    AMERIS BANCORP Conventional home mortgage Credit monitoring or identity theft protection services 1 2.4%
    AMERIS BANCORP Other type of mortgage Trouble during payment process 1 2.4%
    AMERIS BANCORP Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 4.9%
    AMERIS BANCORP FHA mortgage Trouble during payment process 2 4.9%
    AMERIS BANCORP FHA mortgage Closing on a mortgage 2 4.9%
    AMERIS BANCORP Conventional home mortgage Trouble during payment process 20 48.8%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Ameristate Bank 113 South Pennsylvania Atoka, OK 74525 Full Service B&M $194,975
    Ameristate Bank 2410 Loy Lake Road Sherman, TX 75090 Full Service B&M $43,080
    Ameristate Bank 418 West Main Antlers, OK 74523 Full Service B&M $39,757
    Ameristate Bank Highway 69 And Virginia Street Atoka, OK 74525 Full Service B&M $7,495

    For 2020, Ameristate Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,462
    Net interest income $11,791
    Total noninterest income $3,356
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,134
    Trading account gains and fees $0
    Additional Noninterest Income $2,222
    Pre-tax net operating income $4,506
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,506
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,506
    Minority interest net income $0
    Net income $4,506
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,506

    Ameristate Bank's gross interest income from loans was $14,462,000.
    Ameristate Bank's net interest income from loans was $11,791,000.
    Ameristate Bank's fee based income from loans was $1,134,000.
    Ameristate Bank's net income from loans was $4,506,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,671
    Provision for credit losses $488
    Total noninterest expense $10,153
    Salaries and employee benefits $5,637
    Premises and equipment expense $1,023
    Additional noninterest expense $3,493
    Applicable income taxes $0
    Net charge-offs $706
    Cash dividends $2,969

    Ameristate Bank's interest expense for loans was $2,671,000.
    Ameristate Bank's payroll and benefits expense were $5,637,000.
    Ameristate Bank's property, plant and equipment expenses $1,023,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 4.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 9.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 2.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $275,333
    Deposits held in domestic offices $275,333
    Deposits by Individuals, partnerships, and corporations $249,905
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $25,428
    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 $133,999
    Demand deposits $59,512
    Nontransaction accounts $141,334
    Money market deposit accounts (MMDAs) $13,125
    Other savings deposits (excluding MMDAs) $36,589
    Total time deposits $91,620
    Total time and savings deposits $215,821
    Noninterest-bearing deposits $60,820
    Interest-bearing deposits $214,513
    Retail deposits $252,421
    IRAs and Keogh plan accounts $12,647
    Brokered deposits $1,199
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $314,454
    Cash & Balances due from depository institutions $65,012
    Interest-bearing balances $59,900
    Total securities $8,784
    Federal funds sold & reverse repurchase $6,197
    Net loans and leases $216,761
    Loan and leases loss allowance $3,500
    Trading account assets $0
    Bank premises and fixed assets $8,502
    Other real estate owned $241
    Goodwill and other intangibles $0
    All other assets $8,957

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $314,454
    Total Liabilities $282,564
    Total deposits $275,333
    Interest-bearing deposits $214,513
    Deposits held in domestic offices $275,333
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $1,984
    Trading liabilities $0
    Other borrowed funds $3,738
    Subordinated debt $0
    All other liabilities $1,509

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $216,761
    Loan and leases loss allowance $3,500
    Total loans and leases (domestic) $220,261
    All real estate loans $160,396
    Real estate loans in domestic offices $160,396
    Construction and development loans $16,879
    Residential 1-4 family construction $6,284
    Other construction, all land development and other land $10,595
    Loans secured by nonfarm nonresidential properties $65,515
    Nonfarm nonresidential secured by owner-occupied properties $41,625
    Commercial real estate & other non-farm, non-residential $23,890
    Multifamily residential real estate $1,446
    1-4 family residential loans $51,059
    Farmland loans $25,497
    Loans held in foreign offices $0
    Farm loans $6,841
    Commercial and industrial loans $34,194
    To non-U.S. addressees $0
    Loans to individuals $16,899
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $7,308
    Other loans to individuals $9,591
    All other loans & leases $1,931
    Loans to foreign governments and official institutions $0
    Other loans $85
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Ameristate Bank had $216,761,000 of loans outstanding in 2020. $160,396,000 of loans were in real estate loans. $16,879,000 of loans were in development loans. $1,446,000 of loans were in multifamily mortgage loans. $51,059,000 of loans were in 1-4 family mortgage loans. $6,841,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,308,000 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 231 $14,485 $62,706
    Nonfarm, nonresidential loans - <$100k 97 $3,911 $40,320
    Nonfarm, nonresidential loans - $100-250k 73 $6,392 $87,562
    Nonfarm, nonresidential loans - $250k-1MM 61 $4,182 $68,557
    Commercial & Industrial, US addressed loans - <$1MM 352 $20,016 $56,864
    Commercial & Industrial, US addressed loans - <$100k 288 $6,435 $22,344
    Commercial & Industrial, US addressed loans - $100-250k 40 $4,494 $112,350
    Commercial & Industrial, US addressed loans - $250k-1MM 24 $9,087 $378,625
    Farmland loans - <$1MM 151 $13,664 $90,490
    Farmland loans - <$100k 86 $2,928 $34,047
    Farmland loans - $100-250k 46 $5,969 $129,761
    Farmland loans - $250k-1MM 19 $4,767 $250,895
    Agriculture operations loans - <$1MM 220 $6,841 $31,095
    Agriculture operations loans - <$100k 200 $3,975 $19,875
    Agriculture operations loans - $100-250k 17 $2,174 $127,882
    Agriculture operations loans - $250k-1MM 3 $692 $230,667