Vision Bank Mortgage Rates, Fees & Info

Ada, OK

LEI: 549300SNAY3J7NZEU618

Tax ID: 73-0120518

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Vision Bank is a smaller bank specializing in Home Purchase loans. Vision Bank has a high proportion of conventional loans. Their top markets by origination volume include: Ada, Shawnee, Oklahoma City, Durant, and Tulsa among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Vision 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. Vision 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.72%	4/18/24
30 Year Conventional Refi	6.82%	4/18/24
30 Year Cash-out Refi	6.86%	4/18/24
15 Year Conventional Purchase	6.59%	4/18/24
15 Year Conventional Refi	6.90%	4/18/24
15 Year Cash-out Refi	6.90%	4/18/24
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.

Vision Bank Mortgage Calculator

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This is not an official calculator from Vision 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

436

Origination Dollar Volume (All Markets)

$57,930,000

Employee count

205

Awards

Vision Bank 30 Year Conventional Loans gold

Vision Bank 30 Year Conventional Loans bronze

Show all (3) 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
Ada, OK (FHA\|USDA\|VA)	158	$19,770,000	$125,127	$1,961	5.21%
Outside of Metro Areas	88	$11,840,000	$134,545	$2,631	5.27%
Shawnee, OK (FHA\|USDA\|VA)	85	$11,205,000	$131,824	$2,814	5.32%
OKLAHOMA CITY, OK (FHA\|USDA\|VA)	43	$6,455,000	$150,116	$2,657	5.39%
Durant, OK (FHA\|USDA\|VA)	38	$4,360,000	$114,737	$3,076	5.29%
TULSA, OK (FHA\|USDA\|VA)	6	$1,590,000	$265,000	$2,340	4.97%
Breckenridge, CO (FHA\|USDA\|VA)	1	$625,000	$625,000	$0	4.75%
Ardmore, OK (FHA\|USDA\|VA)	8	$610,000	$76,250	$2,051	5.54%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	2	$520,000	$260,000	$1,990	4.94%
McAlester, OK (FHA\|USDA\|VA)	4	$420,000	$105,000	$1,350	5.13%
Weatherford, OK (FHA\|USDA\|VA)	1	$235,000	$235,000	$4,756	4.99%
LAWTON, OK (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	6.00%
Bonham, TX (FHA\|USDA\|VA)	1	$105,000	$105,000	$3,239	6.50%

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

Their top states include:

Oklahoma (FHA|USDA|VA)

Texas (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Vision Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Municipal Employees Credit Union of Oklahoma City
Similarity Rank: 89

WEOKIE
Similarity Rank: 120

First Fidelity Bank
Similarity Rank: 180

Vision Bank
Similarity Rank: 221

TRUE SKY
Similarity Rank: 240

Landmark Bank
Similarity Rank: 450

Washita Mortgage, Inc.
Similarity Rank: 564

US Employees O.C. Federal Credit Union
Similarity Rank: 620

OKLAHOMA'S
Similarity Rank: 714

CWM PARTNERS, L.P.
Similarity Rank: 918

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	436	$57,930,000	$132,867	$2,415	5.27%

For 2018, Vision Bank's most frequently originated type of loan was Conventional, with 436 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	282	$40,800,000	$144,681	$2,743	5.19%
Cash Out Refi	69	$7,995,000	$115,870	$1,966	5.38%
Refi	53	$7,025,000	$132,547	$1,750	5.38%
Home Improvement	18	$980,000	$54,444	$1,301	5.73%
Other	14	$1,130,000	$80,714	$2,524	5.54%

For 2018, Vision Bank's most frequently cited loan purpose was Home Purchase, with 282 originations. The 2nd most popular reason was Cash Out Refi, with 69 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	123	$20,245,000	$164,593	$2,843	5.08%
10 Year	98	$14,840,000	$151,429	$1,815	5.10%
15 Year	73	$6,515,000	$89,247	$2,119	5.43%
1 Year	57	$8,435,000	$147,982	$2,835	5.09%
20 Year	56	$6,320,000	$112,857	$2,760	5.71%
Other	28	$1,450,000	$51,786	$818	5.80%
5 Year	1	$125,000	$125,000	$0	6.50%

For 2018, Vision Bank's most frequently cited loan duration was 30 Year, with 123 originations. The 2nd most popular length was 10 Year, with 98 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	195	$22,795,000	$116,897
$1k-2k	98	$13,740,000	$140,204
$2k-3k	27	$7,445,000	$275,741
$3k-4k	5	$1,475,000	$295,000

Vision Bank's average total fees were $2,843, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 195 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	220	$34,120,000	$155,091
5-6%	130	$15,420,000	$118,615
6-7%	73	$6,495,000	$88,973
3-4%	11	$1,765,000	$160,455
7-8%	2	$130,000	$65,000

During 2018, Vision Bank's average interest rate for loans was 5.08%, while their most frequently originated rate bucket for loans was 4-5%, with 220 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	214	$12,230,000	$57,150	$1,792	5.53%
$100k-200k	145	$20,515,000	$141,483	$2,727	5.05%
$200k-400k	61	$15,985,000	$262,049	$3,050	4.97%
$400k-600k	11	$5,175,000	$470,455	$3,506	4.82%
$600k-1MM	4	$2,900,000	$725,000	$2,638	5.28%
$1MM+	1	$1,125,000	$1,125,000	$0	5.50%

2018 saw Vision Bank place emphasis on $100,000 or less loans with 214 originations, totaling $12,230,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	81	$12,085,000	$149,198	$2,637	5.25%
$50k or less	79	$6,875,000	$87,025	$2,205	5.19%
$50k-75k	71	$8,345,000	$117,535	$2,522	5.16%
$75k-100k	63	$8,515,000	$135,159	$2,363	5.13%
$150k-250k	50	$7,980,000	$159,600	$2,271	5.39%
$250k+	28	$5,100,000	$182,143	$2,685	5.40%

Vision Bank lent most frequently to those with incomes in the $100k-150k range, with 81 originations. The second most popular income band? $50k or less, with 79 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	81	$10,485,000	$129,444	$2,358	4.98%
30-36%	71	$8,805,000	$124,014	$2,526	5.16%
<20%	23	$2,525,000	$109,783	$2,572	4.92%
>60%	19	$3,795,000	$199,737	$1,654	5.31%
41%	17	$1,645,000	$96,765	$1,849	5.55%
40%	13	$1,885,000	$145,000	$2,376	4.95%
37%	12	$1,260,000	$105,000	$2,139	5.23%
50-60%	12	$2,770,000	$230,833	$2,461	5.40%
36%	10	$1,130,000	$113,000	$3,032	5.00%
38%	9	$1,125,000	$125,000	$1,963	5.18%
39%	9	$1,075,000	$119,444	$2,189	5.43%
44%	9	$935,000	$103,889	$2,613	4.75%
45%	7	$1,135,000	$162,143	$2,154	5.18%
46%	6	$1,710,000	$285,000	$3,668	4.71%
49%	6	$1,380,000	$230,000	$2,619	4.77%
43%	6	$1,470,000	$245,000	$3,830	4.71%
42%	4	$540,000	$135,000	$2,906	4.94%
48%	3	$205,000	$68,333	$2,265	5.24%
47%	3	$445,000	$148,333	$2,496	4.75%

Vision Bank lent most frequently to those with DTI ratios of 20-30%, with 81 originations. The next most common DTI ratio? 30-36%, with 71 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	324	$43,370,000	$133,858	$2,437	5.19%
Not applicable	48	$6,480,000	$135,000	$0	5.83%
American Indian	30	$3,630,000	$121,000	$2,122	5.14%
Not provided	22	$2,810,000	$127,727	$2,651	5.47%
Asian	7	$1,395,000	$199,286	$2,986	4.75%
Black	5	$245,000	$49,000	$1,128	5.85%

Approval Rates

Total approvals of all applications
89.17%

Vision Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.73%

Vision Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
1598.33	1	$45,000	$45,000
2466.5	1	$35,000	$35,000
889.0	1	$55,000	$55,000
NA	433	$57,795,000	$133,476

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	3	$1,325,000	$441,667
Single Family (1-4 Units):Manufactured	41	$2,855,000	$69,634
Single Family (1-4 Units):Site-Built	392	$53,750,000	$137,117

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	32	$2,030,000	$63,438	$1,459	5.59%
40-60%	52	$5,700,000	$109,615	$2,665	5.29%
60-80%	144	$19,580,000	$135,972	$2,442	5.28%
80-100%	186	$29,080,000	$156,344	$2,630	5.19%
Over 100%	4	$680,000	$170,000	$4,239	5.44%
Under 20%	18	$860,000	$47,778	$616	5.51%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Vision Bank, National Association	1100 West Broadway Sulphur, OK 73086	Full Service B&M	$85,234
Vision Bank, National Association	101 East Main Street Ada, OK 74820	Full Service B&M	$196,723
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	$15,805
Vision Bank, National Association	1901 Arlington St Ada, OK 74820	Full Service B&M	$54,901
Vision Bank, National Association	2514 University Boulevard Durant, OK 74701	Full Service B&M	$33,740
Vision Bank, National Association	409 South Dawson Meeker, OK 74855	Full Service B&M	$14,975
Vision Bank, National Association	4301 N. Harrison Street Shawnee, OK 74804	Full Service B&M	$31,830
Vision Bank, National Association	802 Jim Thorpe Blvd Prague, OK 74864	Full Service B&M	$81,033

For 2018, Vision Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$28,164
Net interest income	$25,052
Total noninterest income	$7,839
Gross Fiduciary activities income	$751
Service charges on deposit accounts	$3,075
Trading account gains and fees	$0
Additional Noninterest Income	$4,013
Pre-tax net operating income	$7,917
Securities gains (or losses, -)	$0
Income before extraordinary items	$7,917
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,917
Minority interest net income	$0
Net income	$7,917
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,917

Vision Bank's gross interest income from loans was $28,164,000.
Vision Bank's net interest income from loans was $25,052,000.
Vision Bank's fee based income from loans was $3,075,000.
Vision Bank's net income from loans was $7,917,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,112
Provision for credit losses	$1,463
Total noninterest expense	$23,511
Salaries and employee benefits	$12,897
Premises and equipment expense	$2,874
Additional noninterest expense	$7,740
Applicable income taxes	$0
Net charge-offs	$931
Cash dividends	$5,641

Vision Bank's interest expense for loans was $3,112,000.
Vision Bank's payroll and benefits expense were $12,897,000.
Vision Bank's property, plant and equipment expenses $2,874,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	2.0%
Nonfarm, nonresidential loans	2.0%
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	1.0%
Credit card loans	0.0%
Other individual loans	1.0%
Auto loans	0.0%
Other consumer loans	1.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$505,280
Deposits held in domestic offices	$505,280
Deposits by Individuals, partnerships, and corporations	$451,079
Deposits by U.S. Government	$12
Deposits by States and political subdivisions in the U.S.	$53,737
Deposits by Commercial banks and other depository institutions in U.S.	$452
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$41,588
Demand deposits	$14,549
Nontransaction accounts	$463,692
Money market deposit accounts (MMDAs)	$248,471
Other savings deposits (excluding MMDAs)	$68,274
Total time deposits	$146,947
Total time and savings deposits	$490,731
Noninterest-bearing deposits	$14,549
Interest-bearing deposits	$490,731
Retail deposits	$482,309
IRAs and Keogh plan accounts	$28,273
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$652,958
Cash & Balances due from depository institutions	$13,557
Interest-bearing balances	$1,849
Total securities	$134,753
Federal funds sold & reverse repurchase	$0
Net loans and leases	$459,305
Loan and leases loss allowance	$6,288
Trading account assets	$0
Bank premises and fixed assets	$18,659
Other real estate owned	$399
Goodwill and other intangibles	$656
All other assets	$25,629

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$652,957
Total Liabilities	$587,550
Total deposits	$505,280
Interest-bearing deposits	$490,731
Deposits held in domestic offices	$505,280
% insured (estimated)	$86
Federal funds purchased and repurchase agreements	$70,677
Trading liabilities	$0
Other borrowed funds	$7,212
Subordinated debt	$0
All other liabilities	$4,381

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$459,305
Loan and leases loss allowance	$6,288
Total loans and leases (domestic)	$465,593
All real estate loans	$361,755
Real estate loans in domestic offices	$361,755
Construction and development loans	$29,866
Residential 1-4 family construction	$17,491
Other construction, all land development and other land	$12,375
Loans secured by nonfarm nonresidential properties	$120,735
Nonfarm nonresidential secured by owner-occupied properties	$40,094
Commercial real estate & other non-farm, non-residential	$80,641
Multifamily residential real estate	$5,106
1-4 family residential loans	$172,196
Farmland loans	$33,852
Loans held in foreign offices	$0
Farm loans	$9,111
Commercial and industrial loans	$38,427
To non-U.S. addressees	$0
Loans to individuals	$47,049
Credit card loans	$0
Related Plans	$82
Consumer Auto Loans	$21,663
Other loans to individuals	$25,304
All other loans & leases	$9,251
Loans to foreign governments and official institutions	$0
Other loans	$6,363
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$3,934
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$245
Non 1-4 family restructured loans & leases	$22
Total loans and leases (foreign)	$0

Vision Bank had $459,305,000 of loans outstanding in 2018. $361,755,000 of loans were in real estate loans. $29,866,000 of loans were in development loans. $5,106,000 of loans were in multifamily mortgage loans. $172,196,000 of loans were in 1-4 family mortgage loans. $9,111,000 of loans were in farm loans. $0 of loans were in credit card loans. $21,663,000 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	341	$65,515	$192,126
Nonfarm, nonresidential loans - <$100k	89	$3,545	$39,831
Nonfarm, nonresidential loans - $100-250k	118	$14,027	$118,873
Nonfarm, nonresidential loans - $250k-1MM	134	$47,943	$357,784
Commercial & Industrial, US addressed loans - <$1MM	557	$28,736	$51,591
Commercial & Industrial, US addressed loans - <$100k	438	$10,334	$23,594
Commercial & Industrial, US addressed loans - $100-250k	70	$6,854	$97,914
Commercial & Industrial, US addressed loans - $250k-1MM	49	$11,548	$235,673
Farmland loans - <$1MM	289	$29,498	$102,069
Farmland loans - <$100k	162	$6,416	$39,605
Farmland loans - $100-250k	93	$11,330	$121,828
Farmland loans - $250k-1MM	34	$11,752	$345,647
Agriculture operations loans - <$1MM	322	$8,011	$24,879
Agriculture operations loans - <$100k	299	$5,581	$18,666
Agriculture operations loans - $100-250k	21	$1,985	$94,524
Agriculture operations loans - $250k-1MM	2	$445	$222,500