American Bank Of Oklahoma Mortgage Rates, Fees & Info

Collinsville, OK

LEI: 549300ON2ILGPUVKZT28

Tax ID: 73-1517395

5 stars - out of 5 stars, based on 28 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

American Bank Of Oklahoma is a smaller bank specializing in Home Purchase and Refi loans. American Bank Of Oklahoma has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Tulsa, Muskogee, Dallas, Oklahoma City, and Bartlesville among others. American Bank Of Oklahoma 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. American Bank Of Oklahoma is typically an average fee lendor.


Originations

780

Origination Dollar Volume (All Markets)

$164,510,000

Employee count

100 Show all (8) awards

Relative Rate

American Bank Of Oklahoma's average 30 year fixed rate mortgage of loans were 2.87%.

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

This yields a difference of -0.28%.

Relative Fees

American Bank Of Oklahoma's average total fees for a 30 year fixed rate mortgage are $5,350.

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
TULSA, OK (FHA|USDA|VA) 431 $95,735,000 $222,123 $5,243 3.12%
Muskogee, OK (FHA|USDA|VA) 181 $28,215,000 $155,884 $4,705 3.13%
Outside of Metro Areas 52 $10,190,000 $195,962 $4,649 3.58%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 21 $6,365,000 $303,095 $7,274 3.08%
OKLAHOMA CITY, OK (FHA|USDA|VA) 19 $5,155,000 $271,316 $5,044 2.66%
Bartlesville, OK (FHA|USDA|VA) 23 $4,465,000 $194,130 $4,617 3.42%
Tahlequah, OK (FHA|USDA|VA) 20 $3,760,000 $188,000 $6,107 3.16%
Steamboat Springs, CO (FHA|USDA|VA) 1 $2,725,000 $2,725,000 $0 5.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $1,044 4.50%
McAlester, OK (FHA|USDA|VA) 10 $1,400,000 $140,000 $3,828 3.03%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $805,000 $268,333 $5,573 2.79%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $495,000 $495,000 $6,018 2.50%
MODESTO, CA (FHA|USDA|VA) 1 $495,000 $495,000 $6,477 3.25%
SAVANNAH, GA (FHA|USDA|VA) 1 $445,000 $445,000 $4,109 2.50%
FORT SMITH, AR-OK (FHA|USDA|VA) 2 $390,000 $195,000 $4,020 2.88%
SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $285,000 $285,000 $4,123 3.13%
SPRINGFIELD, MO (FHA|USDA|VA) 2 $280,000 $140,000 $3,608 3.19%
Ada, OK (FHA|USDA|VA) 1 $245,000 $245,000 $3,777 2.75%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $235,000 $235,000 $3,560 3.50%
RAPID CITY, SD (FHA|USDA|VA) 1 $225,000 $225,000 $3,730 2.88%
BATON ROUGE, LA (FHA|USDA|VA) 1 $205,000 $205,000 $2,976 2.50%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $195,000 $195,000 $2,889 2.75%
Taos, NM (FHA|USDA|VA) 1 $175,000 $175,000 $0 2.88%
Miami, OK (FHA|USDA|VA) 1 $165,000 $165,000 $8,817 2.88%
Shawnee, OK (FHA|USDA|VA) 1 $155,000 $155,000 $4,790 2.88%
JOPLIN, MO (FHA|USDA|VA) 1 $115,000 $115,000 $2,785 2.88%
Stillwater, OK (FHA|USDA|VA) 1 $85,000 $85,000 $3,090 2.88%

American Bank Of Oklahoma's top markets include Tulsa, Muskogee, Dallas, Oklahoma City, and Bartlesville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 493 $108,015,000 $219,097 $4,079 3.38%
FHA 201 $38,365,000 $190,871 $6,829 2.76%
VA 64 $14,720,000 $230,000 $5,936 2.68%
USDA 22 $3,410,000 $155,000 $5,022 2.93%

For the 2021 period, American Bank Of Oklahoma's most frequently originated loan type of loans were Conventional, with 493 originations. Their 2nd most popular type is FHA, with 201 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 503 $105,605,000 $209,950 $5,420 3.18%
Refi 192 $43,740,000 $227,813 $4,518 2.95%
Cash Out Refi 79 $14,935,000 $189,051 $4,536 3.21%
Home Improvement 6 $230,000 $38,333 $1,242 5.96%

For the 2021, American Bank Of Oklahoma's most frequently cited loan purpose of loans were Home Purchase, with 503 originations. The 2nd most popular reason of loans were Refi, with 192 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 608 $132,690,000 $218,240 $5,350 2.87%
15 Year 64 $12,500,000 $195,313 $4,072 2.71%
Other 44 $6,470,000 $147,045 $2,638 5.65%
20 Year 31 $5,355,000 $172,742 $3,863 4.20%
5 Year 15 $2,345,000 $156,333 $1,949 5.15%
3 Year 8 $3,870,000 $483,750 $0 5.50%
10 Year 6 $600,000 $100,000 $3,715 2.73%
1 Year 4 $680,000 $170,000 $0 5.62%

For the 2021, American Bank Of Oklahoma's most frequently cited loan length of loans were 30 Year, with 608 originations. The 2nd most popular length of loans were 15 Year, with 64 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 602 $128,950,000 $214,203
$<1k 35 $7,655,000 $218,714
$2k-3k 32 $7,710,000 $240,938
$3k-4k 9 $2,485,000 $276,111
$5k+ 7 $3,235,000 $462,143

$5,350 of loans were American Bank Of Oklahoma's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 602 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 369 $78,845,000 $213,672
3-4% 165 $35,835,000 $217,182
<2.5% 155 $34,505,000 $222,613
5-6% 38 $4,630,000 $121,842
4-5% 34 $8,290,000 $243,824
6-7% 18 $2,270,000 $126,111
7-8% 1 $135,000 $135,000

During 2021, American Bank Of Oklahoma's average interest rate of loans were 2.87%, while their most frequently originated rate bucket of loans were 2.5-3%, with 369 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 330 $89,000,000 $269,697 $5,700 2.96%
$100k-200k 310 $45,440,000 $146,581 $4,596 3.11%
$100,000 or less 100 $6,630,000 $66,300 $3,461 3.95%
$400k-600k 35 $16,915,000 $483,286 $5,694 2.81%
$600k-1MM 3 $2,295,000 $765,000 $14,700 2.96%
$1MM+ 2 $4,230,000 $2,115,000 $1,044 4.75%

2021 saw American Bank Of Oklahoma place emphasis on $200k-400k loans with 330 originations, totaling $89,000,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 191 $33,695,000 $176,414 $5,032 2.97%
$100k-150k 157 $40,105,000 $255,446 $5,375 3.04%
$50k or less 133 $17,655,000 $132,744 $4,665 2.99%
$75k-100k 131 $29,045,000 $221,718 $5,484 3.08%
$150k-250k 81 $22,675,000 $279,938 $4,989 3.22%
$250k+ 40 $14,640,000 $366,000 $4,797 3.32%

American Bank Of Oklahoma lent most frequently to those with incomes in the $50k-75k range, with 191 originations. The second most popular income band? $100k-150k, with 157 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 179 $36,315,000 $202,877 $5,095 3.11%
30-36% 121 $26,005,000 $214,917 $5,137 3.05%
<20% 94 $22,410,000 $238,404 $4,210 3.05%
36% 34 $7,480,000 $220,000 $4,829 3.00%
38% 33 $6,485,000 $196,515 $4,541 3.56%
50-60% 30 $6,400,000 $213,333 $7,784 2.99%
37% 30 $6,100,000 $203,333 $4,602 3.09%
39% 28 $5,390,000 $192,500 $4,450 3.00%
41% 28 $5,340,000 $190,714 $4,944 3.27%
40% 25 $5,955,000 $238,200 $4,466 3.01%
43% 25 $4,655,000 $186,200 $5,942 2.98%
42% 22 $6,000,000 $272,727 $5,856 2.72%
44% 21 $4,715,000 $224,524 $5,185 2.85%
47% 19 $3,875,000 $203,947 $5,748 2.86%
45% 14 $3,250,000 $232,143 $4,416 2.93%
46% 12 $3,250,000 $270,833 $5,746 2.78%
49% 11 $2,785,000 $253,182 $7,113 2.97%
48% 8 $1,740,000 $217,500 $6,209 2.86%

American Bank Of Oklahoma lent most frequently to those with DTI ratios of 20-30%, with 179 originations. The next most common DTI ratio? 30-36%, with 121 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 515 $112,015,000 $217,505 $4,944 3.05%
Not provided 94 $23,390,000 $248,830 $5,229 3.04%
American Indian 108 $19,450,000 $180,093 $5,511 3.11%
Not applicable 29 $3,305,000 $113,966 $2,207 5.43%
Black 17 $3,145,000 $185,000 $5,785 3.30%
Asian 12 $2,400,000 $200,000 $5,965 2.83%
Guamanian 2 $370,000 $185,000 $3,907 2.75%
Native Hawaiian 1 $235,000 $235,000 $6,847 2.75%
Vietnamese 1 $145,000 $145,000 $3,174 2.75%
Other Asian 1 $55,000 $55,000 $4,357 3.13%

Approval Rates

Total approvals of all applications
98.08%

American Bank Of Oklahoma 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
88.92%

American Bank Of Oklahoma has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 780 $164,510,000 $210,910

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
780 $164,510,000 $210,910

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 17 $4,315,000 $253,824 $3,491 3.24%
40-60% 61 $10,455,000 $171,393 $4,105 2.98%
60-80% 222 $45,610,000 $205,450 $4,503 3.23%
80-100% 462 $100,830,000 $218,247 $5,346 3.10%
Over 100% 12 $3,160,000 $263,333 $11,467 2.66%
Under 20% 6 $140,000 $23,333 $1,242 6.04%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
AMERICAN BANCSHARES MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
American Bank of Oklahoma 3300 West Broadway Muskogee, OK 74401 Full Service B&M $30,324
American Bank of Oklahoma 1525 West Rogers Boulevard Skiatook, OK 74070 Full Service B&M $46,563
American Bank of Oklahoma 199 Caney Valley Place Ramona, OK 74061 Full Service B&M $22,094
American Bank of Oklahoma 200 East Main Street Collinsville, OK 74021 Full Service B&M $143,476
American Bank of Oklahoma 2401 E. Chandler Road Muskogee, OK 74403 Full Service B&M $54,503
American Bank of Oklahoma 249 East Main Street Disney, OK 74340 Full Service B&M $17,599

For 2021, American Bank Of Oklahoma had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $17,080
Net interest income $14,715
Total noninterest income $7,090
Gross Fiduciary activities income $0
Service charges on deposit accounts $287
Trading account gains and fees $0
Additional Noninterest Income $6,803
Pre-tax net operating income $5,118
Securities gains (or losses, -) $0
Income before extraordinary items $4,272
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $4,272
Minority interest net income $0
Net income $4,272
Sale, conversion, retirement of capital stock, net $0
Net operating income $4,272

American Bank Of Oklahoma's gross interest income from loans was $17,080,000.
American Bank Of Oklahoma's net interest income from loans was $14,715,000.
American Bank Of Oklahoma's fee based income from loans was $287,000.
American Bank Of Oklahoma's net income from loans was $4,272,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,365
Provision for credit losses $50
Total noninterest expense $16,637
Salaries and employee benefits $11,079
Premises and equipment expense $1,174
Additional noninterest expense $4,384
Applicable income taxes $846
Net charge-offs $432
Cash dividends $225

American Bank Of Oklahoma's interest expense for loans was $2,365,000.
American Bank Of Oklahoma's payroll and benefits expense were $11,079,000.
American Bank Of Oklahoma's property, plant and equipment expenses $1,174,000.

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 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 $297,713
Deposits held in domestic offices $297,713
Deposits by Individuals, partnerships, and corporations $267,824
Deposits by U.S. Government $126
Deposits by States and political subdivisions in the U.S. $17,653
Deposits by Commercial banks and other depository institutions in U.S. $12,110
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $118,062
Demand deposits $63,914
Nontransaction accounts $179,651
Money market deposit accounts (MMDAs) $48,709
Other savings deposits (excluding MMDAs) $30,186
Total time deposits $100,755
Total time and savings deposits $233,799
Noninterest-bearing deposits $63,706
Interest-bearing deposits $234,007
Retail deposits $276,066
IRAs and Keogh plan accounts $10,332
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $362,454
Cash & Balances due from depository institutions $26,830
Interest-bearing balances $1,977
Total securities $12,684
Federal funds sold & reverse repurchase $42,831
Net loans and leases $262,719
Loan and leases loss allowance $2,990
Trading account assets $0
Bank premises and fixed assets $6,329
Other real estate owned $415
Goodwill and other intangibles $111
All other assets $10,535

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $362,454
Total Liabilities $328,615
Total deposits $297,713
Interest-bearing deposits $234,007
Deposits held in domestic offices $297,713
% insured (estimated) $82
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $29,715
Subordinated debt $0
All other liabilities $1,187

Issued Loan Types

Type Value (in 000's)
Net loans and leases $262,719
Loan and leases loss allowance $2,990
Total loans and leases (domestic) $265,709
All real estate loans $150,845
Real estate loans in domestic offices $150,845
Construction and development loans $35,328
Residential 1-4 family construction $2,305
Other construction, all land development and other land $33,023
Loans secured by nonfarm nonresidential properties $64,745
Nonfarm nonresidential secured by owner-occupied properties $8,395
Commercial real estate & other non-farm, non-residential $56,350
Multifamily residential real estate $869
1-4 family residential loans $41,358
Farmland loans $8,545
Loans held in foreign offices $0
Farm loans $11,349
Commercial and industrial loans $69,364
To non-U.S. addressees $0
Loans to individuals $26,297
Credit card loans $0
Related Plans $0
Consumer Auto Loans $8,815
Other loans to individuals $17,482
All other loans & leases $7,855
Loans to foreign governments and official institutions $0
Other loans $1,134
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 $1,020
Non 1-4 family restructured loans & leases $391
Total loans and leases (foreign) $0

American Bank of Oklahoma had $262,719,000 of loans outstanding in 2021. $150,845,000 of loans were in real estate loans. $35,328,000 of loans were in development loans. $869,000 of loans were in multifamily mortgage loans. $41,358,000 of loans were in 1-4 family mortgage loans. $11,349,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,815,000 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 430 $49,685 $115,547
Nonfarm, nonresidential loans - <$100k 219 $10,341 $47,219
Nonfarm, nonresidential loans - $100-250k 145 $18,171 $125,317
Nonfarm, nonresidential loans - $250k-1MM 66 $21,173 $320,803
Commercial & Industrial, US addressed loans - <$1MM 847 $52,798 $62,335
Commercial & Industrial, US addressed loans - <$100k 645 $15,108 $23,423
Commercial & Industrial, US addressed loans - $100-250k 133 $14,381 $108,128
Commercial & Industrial, US addressed loans - $250k-1MM 69 $23,309 $337,812
Farmland loans - <$1MM 63 $7,779 $123,476
Farmland loans - <$100k 25 $963 $38,520
Farmland loans - $100-250k 28 $4,002 $142,929
Farmland loans - $250k-1MM 10 $2,814 $281,400
Agriculture operations loans - <$1MM 203 $7,275 $35,837
Agriculture operations loans - <$100k 174 $3,660 $21,034
Agriculture operations loans - $100-250k 25 $2,664 $106,560
Agriculture operations loans - $250k-1MM 4 $951 $237,750