Generations Bank Mortgage Rates, Fees & Info

Rogers, AR

LEI: 549300QWJ3UDIX8KBP64

Tax ID: 71-0025780

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Generations Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Generations Bank has a high proportion of conventional loans. Their top markets include Fayetteville, Fort Smith, Camden, Little Rock, and Hot Springs among others. Generations Bank 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. Generations Bank is typically a low fee lendor.


Originations

638

Origination Dollar Volume (All Markets)

$181,350,000

Employee count

127 Show all (5) awards

Relative Rate

Generations Bank's average 30 year fixed rate mortgage of loans were 3.05%.

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

This yields a difference of -0.1%.

Relative Fees

Generations Bank's average total fees for a 30 year fixed rate mortgage are $2,753.

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
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 464 $137,680,000 $296,724 $2,595 3.22%
FORT SMITH, AR-OK (FHA|USDA|VA) 44 $16,080,000 $365,455 $2,199 3.68%
Camden, AR (FHA|USDA|VA) 44 $8,010,000 $182,045 $1,509 4.44%
Outside of Metro Areas 31 $6,605,000 $213,065 $3,042 3.46%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 10 $2,400,000 $240,000 $3,014 2.81%
HOT SPRINGS, AR (FHA|USDA|VA) 3 $975,000 $325,000 $2,381 2.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 3 $865,000 $288,333 $3,699 2.88%
Athens, TX (FHA|USDA|VA) 4 $860,000 $215,000 $0 4.50%
ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $825,000 $275,000 $2,755 3.47%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $560,000 $280,000 $4,160 2.75%
Mountain Home, AR (FHA|USDA|VA) 1 $545,000 $545,000 $3,311 2.75%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $410,000 $205,000 $3,037 3.06%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $395,000 $395,000 $3,878 2.63%
Russellville, AR (FHA|USDA|VA) 2 $390,000 $195,000 $2,740 4.40%
Tahlequah, OK (FHA|USDA|VA) 4 $390,000 $97,500 $0 4.19%
JONESBORO, AR (FHA|USDA|VA) 1 $375,000 $375,000 $3,172 3.13%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $375,000 $375,000 $2,827 3.38%
MADISON, WI (FHA|USDA|VA) 1 $375,000 $375,000 $1,641 3.38%
PANAMA CITY, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,876 2.88%
Gardnerville Ranchos, NV (FHA|USDA|VA) 1 $355,000 $355,000 $3,298 3.13%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $305,000 $305,000 $2,278 4.00%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $275,000 $275,000 $2,682 2.88%
LUBBOCK, TX (FHA|USDA|VA) 1 $265,000 $265,000 $3,956 2.50%
DECATUR, AL (FHA|USDA|VA) 1 $255,000 $255,000 $2,980 3.13%
Norfolk, NE (FHA|USDA|VA) 1 $245,000 $245,000 $2,573 3.13%
ABILENE, TX (FHA|USDA|VA) 1 $235,000 $235,000 $2,595 2.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 4.25%
Branson, MO (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.10%
Arkadelphia, AR (FHA|USDA|VA) 1 $165,000 $165,000 $0 5.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $135,000 $135,000 $2,942 3.13%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $105,000 $105,000 $2,807 2.13%
El Dorado, AR (FHA|USDA|VA) 3 $105,000 $35,000 $870 4.58%
MONROE, LA (FHA|USDA|VA) 1 $35,000 $35,000 $1,200 6.75%

Generations Bank's top markets include Fayetteville, Fort Smith, Camden, Little Rock, and Hot Springs among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 637 $181,085,000 $284,278 $2,533 3.37%
VA 1 $265,000 $265,000 $8,613 2.75%

For the 2021 period, Generations Bank's most frequently originated loan type of loans were Conventional, with 637 originations. Their 2nd most popular type is VA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 293 $72,335,000 $246,877 $2,577 3.46%
Refi 166 $52,990,000 $319,217 $2,486 3.13%
Cash Out Refi 162 $52,740,000 $325,556 $2,573 3.43%
Other 14 $3,170,000 $226,429 $2,459 3.44%
Home Improvement 3 $115,000 $38,333 $1,320 4.33%

For the 2021, Generations Bank's most frequently cited loan purpose of loans were Home Purchase, with 293 originations. The 2nd most popular reason of loans were Refi, with 166 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 364 $102,670,000 $282,060 $2,753 3.05%
Other 96 $20,240,000 $210,833 $1,382 4.57%
15 Year 76 $18,290,000 $240,658 $2,626 2.47%
5 Year 56 $22,710,000 $405,536 $1,898 4.21%
3 Year 20 $5,170,000 $258,500 $0 4.40%
20 Year 15 $3,475,000 $231,667 $2,355 2.91%
10 Year 6 $7,990,000 $1,331,667 $0 3.75%
1 Year 5 $805,000 $161,000 $0 4.50%

For the 2021, Generations Bank's most frequently cited loan length of loans were 30 Year, with 364 originations. The 2nd most popular length of loans were Other, with 96 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 451 $116,855,000 $259,102
$1k-2k 26 $5,620,000 $216,154
$2k-3k 11 $2,875,000 $261,364
$3k-4k 4 $1,840,000 $460,000

$2,753 of loans were Generations Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 451 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 247 $69,715,000 $282,247
3-4% 203 $67,725,000 $333,621
4-5% 104 $26,520,000 $255,000
<2.5% 61 $15,355,000 $251,721
5-6% 21 $1,985,000 $94,524
6-7% 2 $50,000 $25,000

During 2021, Generations Bank's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 247 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 266 $73,860,000 $277,669 $2,677 3.15%
$100k-200k 192 $29,170,000 $151,927 $2,353 3.40%
$400k-600k 92 $45,000,000 $489,130 $3,073 3.08%
$100,000 or less 74 $4,240,000 $57,297 $1,543 4.38%
$1MM+ 10 $26,350,000 $2,635,000 $0 3.78%
$600k-1MM 4 $2,730,000 $682,500 $2,230 3.84%

2021 saw Generations Bank place emphasis on $200k-400k loans with 266 originations, totaling $73,860,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 141 $35,355,000 $250,745 $2,637 3.21%
$150k-250k 108 $33,090,000 $306,389 $2,738 3.19%
$50k-75k 95 $17,355,000 $182,684 $2,418 3.26%
$75k-100k 90 $20,410,000 $226,778 $2,650 3.21%
$250k+ 68 $25,130,000 $369,559 $2,815 3.20%
$50k or less 65 $7,375,000 $113,462 $1,945 3.87%

Generations Bank lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $150k-250k, with 108 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 184 $45,390,000 $246,685 $2,511 3.15%
<20% 109 $25,745,000 $236,193 $2,471 3.09%
30-36% 88 $23,550,000 $267,614 $2,563 3.34%
41% 21 $5,215,000 $248,333 $2,520 3.65%
39% 20 $5,760,000 $288,000 $2,879 3.20%
43% 19 $5,495,000 $289,211 $2,593 3.36%
36% 18 $3,640,000 $202,222 $2,312 3.60%
44% 17 $4,565,000 $268,529 $3,103 3.04%
42% 17 $4,005,000 $235,588 $2,474 3.21%
40% 16 $3,780,000 $236,250 $2,594 3.40%
37% 13 $2,795,000 $215,000 $2,523 3.08%
38% 7 $2,355,000 $336,429 $2,752 3.05%
47% 4 $1,160,000 $290,000 $2,494 2.81%
45% 3 $805,000 $268,333 $2,981 2.79%
50-60% 2 $720,000 $360,000 $350 4.25%
49% 1 $525,000 $525,000 $3,279 2.75%

Generations Bank lent most frequently to those with DTI ratios of 20-30%, with 184 originations. The next most common DTI ratio? <20%, with 109 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 513 $126,395,000 $246,384 $2,550 3.26%
Not applicable 62 $40,310,000 $650,161 $0 4.15%
Not provided 25 $6,445,000 $257,800 $2,565 3.52%
Asian 16 $4,990,000 $311,875 $2,975 3.23%
Black 14 $2,100,000 $150,000 $2,149 3.77%
American Indian 7 $895,000 $127,857 $2,118 3.55%
Native Hawaiian 1 $215,000 $215,000 $2,119 2.63%

Approval Rates

Total approvals of all applications
94.46%

Generations Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.95%

Generations Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
188.1 1 $15,000 $15,000
305.0 1 $65,000 $65,000
320.0 1 $35,000 $35,000
385.6 1 $35,000 $35,000
46.6 1 $25,000 $25,000
NA 633 $181,175,000 $286,216

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
638 $181,350,000 $284,248

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 24 $4,090,000 $170,417 $2,087 3.80%
40-60% 86 $20,680,000 $240,465 $2,494 3.22%
60-80% 331 $96,775,000 $292,372 $2,592 3.38%
80-100% 187 $59,245,000 $316,818 $2,600 3.29%
Under 20% 10 $560,000 $56,000 $969 4.60%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Generations Bank 1120 Washington Street, N.W. Camden, AR 71701 Full Service B&M $8,219
Generations Bank 119 Highway 274 Camden, AR 71701 Full Service B&M $1,508
Generations Bank 131 North Main Street Junction City, AR 71749 Full Service B&M $38,387
Generations Bank 1325 Highway 278 By-Pass Camden, AR 71701 Full Service B&M $86,464
Generations Bank 200 Progress Avenue, Suite 100 Siloam Springs, AR 72761 Full Service B&M $76,285
Generations Bank 2925 Alma Highway, Town Square Shopping Center, Suite A Van Buren, AR 72956 Full Service B&M $49,340
Generations Bank 302 W. Main Street Hampton, AR 71744 Full Service B&M $54,287
Generations Bank 3665 N Investment Drive Fayetteville, AR 72703 Full Service B&M $40,473
Generations Bank 3710 W Southern Hills Blvd, Ste 100 Rogers, AR 72758 Full Service B&M $175,976
Generations Bank 600 Sw 41st Street Bentonville, AR 72712 Full Service B&M $2,627

For 2021, Generations Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $28,031
Net interest income $25,512
Total noninterest income $5,678
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,395
Trading account gains and fees $0
Additional Noninterest Income $4,283
Pre-tax net operating income $12,092
Securities gains (or losses, -) $15
Income before extraordinary items $9,008
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $9,008
Minority interest net income $0
Net income $9,008
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,996

Generations Bank's gross interest income from loans was $28,031,000.
Generations Bank's net interest income from loans was $25,512,000.
Generations Bank's fee based income from loans was $1,395,000.
Generations Bank's net income from loans was $9,008,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,519
Provision for credit losses $948
Total noninterest expense $18,150
Salaries and employee benefits $11,414
Premises and equipment expense $1,706
Additional noninterest expense $5,030
Applicable income taxes $3,099
Net charge-offs $163
Cash dividends $1,450

Generations Bank's interest expense for loans was $2,519,000.
Generations Bank's payroll and benefits expense were $11,414,000.
Generations Bank's property, plant and equipment expenses $1,706,000.

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 $552,240
Deposits held in domestic offices $552,240
Deposits by Individuals, partnerships, and corporations $451,797
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $57,510
Deposits by Commercial banks and other depository institutions in U.S. $42,933
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $251,137
Demand deposits $156,337
Nontransaction accounts $301,103
Money market deposit accounts (MMDAs) $86,679
Other savings deposits (excluding MMDAs) $64,837
Total time deposits $149,587
Total time and savings deposits $395,903
Noninterest-bearing deposits $156,337
Interest-bearing deposits $395,903
Retail deposits $503,226
IRAs and Keogh plan accounts $20,328
Brokered deposits $300
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $706,263
Cash & Balances due from depository institutions $10,722
Interest-bearing balances $4,330
Total securities $122,820
Federal funds sold & reverse repurchase $0
Net loans and leases $532,374
Loan and leases loss allowance $5,945
Trading account assets $0
Bank premises and fixed assets $15,221
Other real estate owned $0
Goodwill and other intangibles $662
All other assets $24,464

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $706,263
Total Liabilities $622,043
Total deposits $552,240
Interest-bearing deposits $395,903
Deposits held in domestic offices $552,240
% insured (estimated) $65
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $63,807
Subordinated debt $0
All other liabilities $5,996

Issued Loan Types

Type Value (in 000's)
Net loans and leases $532,374
Loan and leases loss allowance $5,945
Total loans and leases (domestic) $538,319
All real estate loans $432,873
Real estate loans in domestic offices $432,873
Construction and development loans $74,835
Residential 1-4 family construction $20,335
Other construction, all land development and other land $54,500
Loans secured by nonfarm nonresidential properties $182,384
Nonfarm nonresidential secured by owner-occupied properties $135,977
Commercial real estate & other non-farm, non-residential $46,407
Multifamily residential real estate $8,601
1-4 family residential loans $156,361
Farmland loans $10,692
Loans held in foreign offices $0
Farm loans $1,343
Commercial and industrial loans $93,450
To non-U.S. addressees $0
Loans to individuals $9,335
Credit card loans $0
Related Plans $41
Consumer Auto Loans $3,305
Other loans to individuals $5,989
All other loans & leases $1,319
Loans to foreign governments and official institutions $0
Other loans $0
Loans to depository institutions and acceptances of other banks $1,275
Loans not secured by real estate $14,299
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $567
Non 1-4 family restructured loans & leases $376
Total loans and leases (foreign) $0

Generations Bank had $532,374,000 of loans outstanding in 2021. $432,873,000 of loans were in real estate loans. $74,835,000 of loans were in development loans. $8,601,000 of loans were in multifamily mortgage loans. $156,361,000 of loans were in 1-4 family mortgage loans. $1,343,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,305,000 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 189 $41,817 $221,254
Nonfarm, nonresidential loans - <$100k 45 $1,799 $39,978
Nonfarm, nonresidential loans - $100-250k 68 $8,888 $130,706
Nonfarm, nonresidential loans - $250k-1MM 76 $31,130 $409,605
Commercial & Industrial, US addressed loans - <$1MM 598 $37,034 $61,930
Commercial & Industrial, US addressed loans - <$100k 458 $10,096 $22,044
Commercial & Industrial, US addressed loans - $100-250k 90 $9,765 $108,500
Commercial & Industrial, US addressed loans - $250k-1MM 50 $17,173 $343,460
Farmland loans - <$1MM 42 $4,124 $98,190
Farmland loans - <$100k 19 $753 $39,632
Farmland loans - $100-250k 15 $1,567 $104,467
Farmland loans - $250k-1MM 8 $1,804 $225,500
Agriculture operations loans - <$1MM 10 $707 $70,700
Agriculture operations loans - <$100k 8 $340 $42,500
Agriculture operations loans - $100-250k 2 $367 $183,500