Vision Bank Mortgage Rates, Fees & Info

Ada, OK

LEI: 549300SNAY3J7NZEU618

Tax ID: 73-0120518

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Vision Bank is a smaller bank specializing in Home Purchase and Refi loans. Vision 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 include Ada, Oklahoma City, Shawnee, Durant, and Tulsa among others. Vision 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. Vision Bank is typically an average fee lendor.


Originations

582

Origination Dollar Volume (All Markets)

$108,870,000

Employee count

209

Relative Rate

Vision Bank's average 30 year fixed rate mortgage of loans were 3.19%.

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

This yields a difference of 0.04%.

Relative Fees

Vision Bank's average total fees for a 30 year fixed rate mortgage are $3,548.

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
Ada, OK (FHA|USDA|VA) 209 $37,265,000 $178,301 $3,241 3.15%
Outside of Metro Areas 166 $27,930,000 $168,253 $3,559 3.38%
OKLAHOMA CITY, OK (FHA|USDA|VA) 70 $16,010,000 $228,714 $3,520 3.32%
Shawnee, OK (FHA|USDA|VA) 67 $12,545,000 $187,239 $3,667 3.38%
Durant, OK (FHA|USDA|VA) 37 $8,225,000 $222,297 $4,187 2.88%
TULSA, OK (FHA|USDA|VA) 9 $2,305,000 $256,111 $4,099 3.22%
Ardmore, OK (FHA|USDA|VA) 8 $1,940,000 $242,500 $4,054 3.78%
Duncan, OK (FHA|USDA|VA) 3 $595,000 $198,333 $2,756 3.04%
ENID, OK (FHA|USDA|VA) 2 $440,000 $220,000 $3,797 2.38%
Ponca City, OK (FHA|USDA|VA) 2 $430,000 $215,000 $6,047 3.75%
Bartlesville, OK (FHA|USDA|VA) 3 $375,000 $125,000 $3,607 3.74%
McAlester, OK (FHA|USDA|VA) 2 $330,000 $165,000 $3,107 2.81%
Stillwater, OK (FHA|USDA|VA) 2 $220,000 $110,000 $3,710 3.81%
Woodward, OK (FHA|USDA|VA) 1 $135,000 $135,000 $4,488 2.63%
Muskogee, OK (FHA|USDA|VA) 1 $125,000 $125,000 $3,503 3.99%

Vision Bank's top markets include Ada, Oklahoma City, Shawnee, Durant, and Tulsa among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 581 $108,585,000 $186,893 $3,509 3.26%
FHA 1 $285,000 $285,000 $4,243 3.00%

For the 2021 period, Vision Bank's most frequently originated loan type of loans were Conventional, with 581 originations. Their 2nd most popular type is FHA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 266 $50,300,000 $189,098 $3,560 3.44%
Refi 220 $41,630,000 $189,227 $3,427 3.05%
Home Improvement 45 $6,915,000 $153,667 $3,231 3.51%
Cash Out Refi 45 $8,995,000 $199,889 $3,749 2.92%
Other 6 $1,030,000 $171,667 $4,623 3.44%

For the 2021, Vision Bank's most frequently cited loan purpose of loans were Home Purchase, with 266 originations. The 2nd most popular reason of loans were Refi, with 220 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 300 $58,990,000 $196,633 $3,548 3.19%
15 Year 104 $16,740,000 $160,962 $3,695 2.49%
1 Year 94 $16,880,000 $179,574 $3,416 4.02%
20 Year 37 $6,195,000 $167,432 $3,136 3.30%
10 Year 23 $5,175,000 $225,000 $3,254 3.81%
Other 21 $4,685,000 $223,095 $3,444 4.01%
5 Year 2 $130,000 $65,000 $2,209 4.00%
30+ year 1 $75,000 $75,000 $3,109 2.38%

For the 2021, Vision Bank's most frequently cited loan length of loans were 30 Year, with 300 originations. The 2nd most popular length of loans were 15 Year, with 104 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 209 $34,665,000 $165,861
$1k-2k 209 $32,875,000 $157,297
$2k-3k 106 $23,410,000 $220,849
$3k-4k 33 $11,115,000 $336,818
$5k+ 3 $1,935,000 $645,000

$3,548 of loans were Vision Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 209 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 261 $46,565,000 $178,410
2.5-3% 143 $29,025,000 $202,972
<2.5% 126 $23,700,000 $188,095
4-5% 47 $8,685,000 $184,787
5-6% 4 $790,000 $197,500
Over 8% 1 $105,000 $105,000

During 2021, Vision Bank's average interest rate of loans were 3.19%, while their most frequently originated rate bucket of loans were 3-4%, with 261 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 252 $38,070,000 $151,071 $3,362 3.22%
$200k-400k 179 $46,945,000 $262,263 $4,141 3.12%
$100,000 or less 122 $8,250,000 $67,623 $2,505 3.49%
$400k-600k 23 $10,565,000 $459,348 $4,532 3.30%
$600k-1MM 5 $3,715,000 $743,000 $8,332 4.25%
$1MM+ 1 $1,325,000 $1,325,000 $0 4.25%

2021 saw Vision Bank place emphasis on $100k-200k loans with 252 originations, totaling $38,070,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 118 $18,030,000 $152,797 $3,253 3.35%
$100k-150k 113 $22,895,000 $202,611 $3,726 3.23%
$75k-100k 113 $20,215,000 $178,894 $3,491 3.26%
$150k-250k 82 $18,550,000 $226,220 $3,782 3.12%
$50k or less 82 $9,750,000 $118,902 $2,899 3.33%
$250k+ 45 $12,805,000 $284,556 $4,611 3.09%

Vision Bank lent most frequently to those with incomes in the $50k-75k range, with 118 originations. The second most popular income band? $100k-150k, with 113 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 154 $26,620,000 $172,857 $3,557 3.17%
30-36% 102 $19,410,000 $190,294 $3,731 3.22%
<20% 78 $13,210,000 $169,359 $3,434 3.06%
>60% 27 $6,155,000 $227,963 $3,142 3.70%
50-60% 27 $4,695,000 $173,889 $3,160 3.59%
36% 20 $3,530,000 $176,500 $3,595 3.28%
38% 18 $3,380,000 $187,778 $3,143 3.21%
39% 17 $2,895,000 $170,294 $3,257 3.45%
41% 17 $3,465,000 $203,824 $3,595 3.20%
37% 16 $3,890,000 $243,125 $4,215 3.09%
40% 16 $3,130,000 $195,625 $3,519 3.26%
43% 15 $2,985,000 $199,000 $3,287 2.97%
45% 12 $3,220,000 $268,333 $4,093 3.15%
49% 10 $1,520,000 $152,000 $2,479 3.40%
42% 10 $2,070,000 $207,000 $4,277 3.20%
44% 8 $1,140,000 $142,500 $3,153 2.89%
46% 5 $965,000 $193,000 $3,335 3.47%
47% 4 $960,000 $240,000 $2,708 3.31%
48% 3 $535,000 $178,333 $3,913 2.58%

Vision Bank lent most frequently to those with DTI ratios of 20-30%, with 154 originations. The next most common DTI ratio? 30-36%, with 102 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 457 $84,195,000 $184,234 $3,472 3.23%
American Indian 76 $13,550,000 $178,289 $3,496 3.26%
Not provided 19 $4,415,000 $232,368 $4,670 3.42%
Not applicable 12 $3,700,000 $308,333 $0 4.08%
Asian 10 $2,030,000 $203,000 $3,916 3.21%
Black 7 $765,000 $109,286 $2,340 3.41%
Korean 1 $215,000 $215,000 $0 4.25%

Approval Rates

Total approvals of all applications
92.04%

Vision Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.10%

Vision Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 582 $108,870,000 $187,062

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
582 $108,870,000 $187,062

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 29 $2,965,000 $102,241 $2,572 3.35%
40-60% 79 $10,905,000 $138,038 $3,318 3.14%
60-80% 233 $45,145,000 $193,755 $3,588 3.15%
80-100% 238 $49,640,000 $208,571 $3,619 3.38%
Over 100% 1 $75,000 $75,000 $3,884 3.99%
Under 20% 2 $140,000 $70,000 $3,150 3.75%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Vision Bank, National Association 4301 N. Harrison Street Shawnee, OK 74804 Full Service B&M $48,324
Vision Bank, National Association 802 Jim Thorpe Blvd Prague, OK 74864 Full Service B&M $103,158
Vision Bank, National Association 101 East Main Street Ada, OK 74820 Full Service B&M $289,959
Vision Bank, National Association 1100 West Broadway Sulphur, OK 73086 Full Service B&M $108,140
Vision Bank, National Association 1200 East 12th Street Ada, OK 74820 Full Service B&M $0
Vision Bank, National Association 1200 East Main Street Davis, OK 73030 Full Service B&M $29,014
Vision Bank, National Association 1901 Arlington St Ada, OK 74820 Full Service B&M $75,075
Vision Bank, National Association 2514 University Boulevard Durant, OK 74701 Full Service B&M $50,885
Vision Bank, National Association 409 South Dawson Meeker, OK 74855 Full Service B&M $25,636

For 2021, Vision Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $32,922
Net interest income $30,490
Total noninterest income $8,811
Gross Fiduciary activities income $788
Service charges on deposit accounts $3,150
Trading account gains and fees $0
Additional Noninterest Income $4,873
Pre-tax net operating income $10,995
Securities gains (or losses, -) $274
Income before extraordinary items $11,269
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $11,269
Minority interest net income $0
Net income $11,269
Sale, conversion, retirement of capital stock, net $0
Net operating income $10,995

Vision Bank's gross interest income from loans was $32,922,000.
Vision Bank's net interest income from loans was $30,490,000.
Vision Bank's fee based income from loans was $3,150,000.
Vision Bank's net income from loans was $11,269,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,432
Provision for credit losses $2,100
Total noninterest expense $26,206
Salaries and employee benefits $14,805
Premises and equipment expense $2,842
Additional noninterest expense $8,559
Applicable income taxes $0
Net charge-offs $461
Cash dividends $7,994

Vision Bank's interest expense for loans was $2,432,000.
Vision Bank's payroll and benefits expense were $14,805,000.
Vision Bank's property, plant and equipment expenses $2,842,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 1.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 1.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 0.0%
All other family 1.0%
Commercial & industrial loans 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 $715,293
Deposits held in domestic offices $715,293
Deposits by Individuals, partnerships, and corporations $631,345
Deposits by U.S. Government $21
Deposits by States and political subdivisions in the U.S. $83,234
Deposits by Commercial banks and other depository institutions in U.S. $692
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $432,705
Demand deposits $177,968
Nontransaction accounts $282,587
Money market deposit accounts (MMDAs) $17,618
Other savings deposits (excluding MMDAs) $100,358
Total time deposits $164,611
Total time and savings deposits $537,324
Noninterest-bearing deposits $177,968
Interest-bearing deposits $537,325
Retail deposits $688,505
IRAs and Keogh plan accounts $29,331
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $864,309
Cash & Balances due from depository institutions $45,159
Interest-bearing balances $33,951
Total securities $236,855
Federal funds sold & reverse repurchase $10,295
Net loans and leases $526,827
Loan and leases loss allowance $9,066
Trading account assets $0
Bank premises and fixed assets $17,430
Other real estate owned $98
Goodwill and other intangibles $594
All other assets $27,051

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $864,309
Total Liabilities $788,416
Total deposits $715,293
Interest-bearing deposits $537,325
Deposits held in domestic offices $715,293
% insured (estimated) $83
Federal funds purchased and repurchase agreements $64,600
Trading liabilities $0
Other borrowed funds $3,388
Subordinated debt $0
All other liabilities $5,135

Issued Loan Types

Type Value (in 000's)
Net loans and leases $526,827
Loan and leases loss allowance $9,066
Total loans and leases (domestic) $535,893
All real estate loans $435,401
Real estate loans in domestic offices $435,401
Construction and development loans $59,668
Residential 1-4 family construction $51,244
Other construction, all land development and other land $8,424
Loans secured by nonfarm nonresidential properties $136,480
Nonfarm nonresidential secured by owner-occupied properties $40,497
Commercial real estate & other non-farm, non-residential $95,983
Multifamily residential real estate $7,782
1-4 family residential loans $188,927
Farmland loans $42,544
Loans held in foreign offices $0
Farm loans $7,319
Commercial and industrial loans $44,535
To non-U.S. addressees $0
Loans to individuals $40,753
Credit card loans $0
Related Plans $54
Consumer Auto Loans $19,020
Other loans to individuals $21,679
All other loans & leases $7,884
Loans to foreign governments and official institutions $0
Other loans $4,566
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $4,062
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $397
Non 1-4 family restructured loans & leases $181
Total loans and leases (foreign) $0

Vision Bank had $526,827,000 of loans outstanding in 2021. $435,401,000 of loans were in real estate loans. $59,668,000 of loans were in development loans. $7,782,000 of loans were in multifamily mortgage loans. $188,927,000 of loans were in 1-4 family mortgage loans. $7,319,000 of loans were in farm loans. $0 of loans were in credit card loans. $19,020,000 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 286 $58,831 $205,703
Nonfarm, nonresidential loans - <$100k 64 $2,919 $45,609
Nonfarm, nonresidential loans - $100-250k 98 $11,846 $120,878
Nonfarm, nonresidential loans - $250k-1MM 124 $44,066 $355,371
Commercial & Industrial, US addressed loans - <$1MM 675 $36,213 $53,649
Commercial & Industrial, US addressed loans - <$100k 529 $10,732 $20,287
Commercial & Industrial, US addressed loans - $100-250k 95 $10,441 $109,905
Commercial & Industrial, US addressed loans - $250k-1MM 51 $15,040 $294,902
Farmland loans - <$1MM 415 $39,907 $96,161
Farmland loans - <$100k 249 $10,865 $43,635
Farmland loans - $100-250k 130 $16,957 $130,438
Farmland loans - $250k-1MM 36 $12,085 $335,694
Agriculture operations loans - <$1MM 309 $6,481 $20,974
Agriculture operations loans - <$100k 291 $4,605 $15,825
Agriculture operations loans - $100-250k 16 $1,238 $77,375
Agriculture operations loans - $250k-1MM 2 $638 $319,000