Interbank Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 549300T2PYPUFN0IWJ63

Tax ID: 73-1319566

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Interbank is a smaller bank specializing in Home Purchase and Refi loans. Interbank 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 Dallas, Oklahoma City, Stephenville, Elk City, and Enid among others. Interbank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Interbank is typically an average fee lendor.


Originations

675

Origination Dollar Volume (All Markets)

$143,385,000

Employee count

515 Show all (6) awards

Relative Rate

Interbank's average 30 year fixed rate mortgage of loans were 3.16%.

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

This yields a difference of 0.01%.

Relative Fees

Interbank's average total fees for a 30 year fixed rate mortgage are $3,525.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 113 $39,195,000 $346,858 $3,864 3.70%
OKLAHOMA CITY, OK (FHA|USDA|VA) 145 $36,195,000 $249,621 $3,336 3.45%
Outside of Metro Areas 173 $26,105,000 $150,896 $2,915 3.97%
Stephenville, TX (FHA|USDA|VA) 69 $12,235,000 $177,319 $2,987 3.39%
Elk City, OK (FHA|USDA|VA) 35 $5,845,000 $167,000 $2,933 3.95%
ENID, OK (FHA|USDA|VA) 41 $4,515,000 $110,122 $2,329 3.94%
Weatherford, OK (FHA|USDA|VA) 40 $4,340,000 $108,500 $2,259 4.15%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $2,920,000 $486,667 $4,268 3.19%
Granbury, TX (FHA|USDA|VA) 13 $2,875,000 $221,154 $2,970 3.68%
Mineral Wells, TX (FHA|USDA|VA) 2 $1,930,000 $965,000 $7,061 3.63%
AMARILLO, TX (FHA|USDA|VA) 4 $1,050,000 $262,500 $2,952 3.28%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 3 $785,000 $261,667 $4,224 2.58%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 4 $740,000 $185,000 $3,661 4.25%
LONGVIEW, TX (FHA|USDA|VA) 1 $725,000 $725,000 $6,967 4.50%
LUBBOCK, TX (FHA|USDA|VA) 2 $700,000 $350,000 $4,538 2.38%
Stillwater, OK (FHA|USDA|VA) 4 $480,000 $120,000 $3,758 3.84%
TULSA, OK (FHA|USDA|VA) 3 $435,000 $145,000 $3,840 3.46%
WICHITA FALLS, TX (FHA|USDA|VA) 4 $400,000 $100,000 $2,121 3.81%
LAWTON, OK (FHA|USDA|VA) 1 $275,000 $275,000 $4,066 2.75%
Athens, TX (FHA|USDA|VA) 1 $265,000 $265,000 $3,425 2.25%
GAINESVILLE, FL (FHA|USDA|VA) 1 $245,000 $245,000 $2,647 2.38%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $245,000 $245,000 $4,101 3.63%
SHERMAN-DENISON, TX (FHA|USDA|VA) 2 $240,000 $120,000 $1,325 3.75%
ABILENE, TX (FHA|USDA|VA) 2 $190,000 $95,000 $0 5.13%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $165,000 $165,000 $0 2.88%
Tahlequah, OK (FHA|USDA|VA) 1 $95,000 $95,000 $0 4.00%
WACO, TX (FHA|USDA|VA) 1 $75,000 $75,000 $0 4.50%
MIDLAND, TX (FHA|USDA|VA) 1 $75,000 $75,000 $691 5.50%
Brownwood, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.00%

Interbank's top markets include Dallas, Oklahoma City, Stephenville, Elk City, and Enid among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 670 $142,330,000 $212,433 $3,130 3.73%
FHA 5 $1,055,000 $211,000 $7,502 3.23%

For the 2021 period, Interbank's most frequently originated loan type of loans were Conventional, with 670 originations. Their 2nd most popular type is FHA, with 5 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 364 $79,440,000 $218,242 $3,264 3.86%
Refi 170 $37,920,000 $223,059 $3,077 3.34%
Cash Out Refi 110 $24,230,000 $220,273 $3,487 3.66%
Home Improvement 25 $1,145,000 $45,800 $1,145 4.67%
Other 6 $650,000 $108,333 $1,773 4.33%

For the 2021, Interbank's most frequently cited loan purpose of loans were Home Purchase, with 364 originations. The 2nd most popular reason of loans were Refi, with 170 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 312 $82,220,000 $263,526 $3,525 3.16%
15 Year 106 $16,320,000 $153,962 $2,700 3.39%
5 Year 88 $13,240,000 $150,455 $706 4.71%
Other 54 $13,710,000 $253,889 $2,908 4.47%
20 Year 43 $6,515,000 $151,512 $2,509 3.98%
1 Year 38 $8,090,000 $212,895 $2,092 4.57%
10 Year 19 $1,125,000 $59,211 $1,276 5.25%
3 Year 15 $2,165,000 $144,333 $0 4.85%

For the 2021, Interbank's most frequently cited loan length of loans were 30 Year, with 312 originations. The 2nd most popular length of loans were 15 Year, with 106 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 401 $90,585,000 $225,898
$1k-2k 32 $7,430,000 $232,188
$2k-3k 11 $4,335,000 $394,091
$3k-4k 4 $2,090,000 $522,500

$3,525 of loans were Interbank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 401 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
4-5% 200 $32,670,000 $163,350
2.5-3% 155 $43,435,000 $280,226
<2.5% 124 $32,570,000 $262,661
3-4% 111 $26,935,000 $242,658
5-6% 76 $7,230,000 $95,132
6-7% 5 $295,000 $59,000
Over 8% 3 $175,000 $58,333
7-8% 1 $75,000 $75,000

During 2021, Interbank's average interest rate of loans were 3.16%, while their most frequently originated rate bucket of loans were 4-5%, with 200 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 216 $12,500,000 $57,870 $1,653 4.56%
$200k-400k 201 $55,535,000 $276,294 $3,688 3.08%
$100k-200k 186 $27,660,000 $148,710 $2,850 3.69%
$400k-600k 52 $24,560,000 $472,308 $4,416 2.89%
$600k-1MM 12 $9,590,000 $799,167 $6,073 3.68%
$1MM+ 8 $13,540,000 $1,692,500 $11,765 4.16%

2021 saw Interbank place emphasis on $100,000 or less loans with 216 originations, totaling $12,500,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 120 $28,690,000 $239,083 $3,506 3.16%
$150k-250k 88 $26,410,000 $300,114 $3,556 3.22%
$75k-100k 78 $13,930,000 $178,590 $2,893 3.46%
$50k-75k 70 $10,700,000 $152,857 $2,721 3.51%
$50k or less 66 $5,690,000 $86,212 $2,127 3.94%
$250k+ 32 $16,430,000 $513,438 $5,145 3.38%

Interbank lent most frequently to those with incomes in the $100k-150k range, with 120 originations. The second most popular income band? $150k-250k, with 88 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 150 $35,530,000 $236,867 $3,125 3.28%
30-36% 95 $24,115,000 $253,842 $3,458 3.36%
<20% 69 $12,245,000 $177,464 $2,649 3.57%
41% 18 $3,610,000 $200,556 $3,178 3.14%
42% 16 $3,120,000 $195,000 $2,588 3.60%
37% 16 $2,890,000 $180,625 $2,805 3.55%
39% 15 $4,355,000 $290,333 $3,815 3.38%
40% 15 $3,325,000 $221,667 $3,202 3.76%
38% 15 $2,555,000 $170,333 $3,410 3.18%
44% 14 $3,030,000 $216,429 $3,279 3.51%
36% 12 $2,780,000 $231,667 $2,815 3.83%
43% 10 $1,920,000 $192,000 $2,994 3.06%
>60% 9 $1,655,000 $183,889 $4,218 4.75%
47% 7 $2,435,000 $347,857 $4,028 3.05%
48% 7 $1,455,000 $207,857 $3,805 2.80%
45% 7 $2,315,000 $330,714 $3,647 2.38%
50-60% 6 $630,000 $105,000 $3,278 3.94%
49% 4 $1,070,000 $267,500 $3,574 2.72%
46% 1 $325,000 $325,000 $3,731 3.25%

Interbank lent most frequently to those with DTI ratios of 20-30%, with 150 originations. The next most common DTI ratio? 30-36%, with 95 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 497 $99,465,000 $200,131 $3,178 3.61%
Not applicable 115 $28,895,000 $251,261 $3,030 4.44%
Not provided 35 $8,885,000 $253,857 $3,660 3.22%
Asian 10 $2,780,000 $278,000 $2,948 3.30%
American Indian 10 $1,750,000 $175,000 $2,495 4.14%
Asian Indian 2 $1,130,000 $565,000 $1,560 2.63%
Black 6 $480,000 $80,000 $2,605 3.58%

Approval Rates

Total approvals of all applications
87.49%

Interbank has an average approval rate.

Pick Rate

Approvals leading to origination
85.11%

Interbank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 675 $143,385,000 $212,422

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
675 $143,385,000 $212,422

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 50 $7,350,000 $147,000 $2,459 3.91%
40-60% 138 $27,340,000 $198,116 $3,334 3.82%
60-80% 282 $64,870,000 $230,035 $3,413 3.62%
80-100% 183 $41,595,000 $227,295 $3,089 3.67%
Over 100% 2 $490,000 $245,000 $0 5.50%
Under 20% 19 $1,705,000 $89,737 $1,591 4.63%

Complaints

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

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Interbank 455 Elm Street Graham, TX 76450 Full Service B&M $142,567
Interbank 11th Street At Cleveland Friona, TX 79035 Full Service B&M $83,707
Interbank 100 Commercial Avenue Coleman, TX 76834 Full Service B&M $84,115
Interbank 2919 N.W. 49th Street Oklahoma City, OK 73112 Limited, Drive-thru $0
Interbank 300 Us 77 North Waxahachie, TX 75165 Full Service B&M $134,586
Interbank 301 West Walker Street Breckenridge, TX 76424 Full Service B&M $70,245
Interbank 307 West Main Street Olney, TX 76374 Full Service B&M $88,046
Interbank 309 South Ranchwood Boulevard Yukon, OK 73099 Full Service B&M $33,252
Interbank 320 North Main Street Kingfisher, OK 73750 Full Service B&M $129,129
Interbank 400 South Main Hobart, OK 73651 Full Service B&M $23,355
Interbank 405 Southwest Big Bend Trail Glen Rose, TX 76043 Full Service B&M $83,106
Interbank 4255 Camp Bowie Fort Worth, TX 76107 Full Service B&M $290,045
Interbank 429 South Jefferson Hobart, OK 73651 Limited, Drive-thru $0
Interbank 4300 Lovers Lane - University Park Dallas, TX 75225 Full Service B&M $44,672
Interbank 4501 William D. Tate Ave. Grapevine, TX 76051 Full Service B&M $182,875
Interbank 4530 East Highway 377 Granbury, TX 76049 Full Service B&M $23,423
Interbank 115 Main Street Canadian, TX 79014 Full Service B&M $64,157
Interbank 1201 West Memorial Road Oklahoma City, OK 73114 Full Service B&M $14,329
Interbank 1209 South Main Kingfisher, OK 73750 Limited, Drive-thru $0
Interbank 123 West Main Street Sayre, OK 73662 Full Service B&M $79,028
Interbank 125 East First Edmond, OK 73034 Full Service B&M $41,930
Interbank 1431 S Midlothian Parkway Midlothian, TX 76065 Full Service B&M $35,265
Interbank 150 Harbin Drive Stephenville, TX 76401 Full Service B&M $180,871
Interbank 1620 West Third Street Elk City, OK 73648 Full Service B&M $78,397
Interbank 200 North Fm 1187 Aledo, TX 76008 Full Service B&M $14,570
Interbank 200 West Lingleville Highway Stephenville, TX 76401 Full Service B&M $0
Interbank 210 N Minter Ave Throckmorton, TX 76483 Full Service B&M $49,829
Interbank 224 East Oklahoma Avenue Guthrie, OK 73044 Full Service B&M $80,373
Interbank 2409 Country Club Road El Reno, OK 73036 Full Service B&M $114,256
Interbank 28517 U.S. Highway 377 North Bluff Dale, TX 76433 Full Service B&M $22,675
Interbank 4921 North May Avenue Oklahoma City, OK 73112 Full Service B&M $379,960
Interbank 501 Avenue F, N.W. Childress, TX 79201 Full Service B&M $24,381
Interbank 510 North Commerce Enid, OK 73703 Full Service B&M $109,915
Interbank 525 Morse Avenue Stinnett, TX 79083 Full Service B&M $11,095
Interbank 5307 E. Mockingbird, Suite 200 Dallas, TX 75206 Full Service B&M $71,716
Interbank 531 Deahl Street Borger, TX 79007 Full Service B&M $26,863
Interbank 7300 South Pennsylvania Oklahoma City, OK 73159 Full Service B&M $48,762
Interbank 807 Gary Boulevard Clinton, OK 73601 Full Service B&M $69,923
Interbank Main Street Follett, TX 79034 Full Service B&M $36,017
Interbank 100 North Washington Street Seymour, TX 76380 Full Service B&M $49,326
Interbank 101 North Main Street Hennessey, OK 73742 Full Service B&M $78,247
Interbank 101 North Main Street Vega, TX 79092 Full Service B&M $23,416
Interbank 101 North Rock Island El Reno, OK 73036 Limited, Drive-thru $0
Interbank 102 N. State Hwy 342 Red Oak, TX 75154 Full Service B&M $25,681
Interbank 110 East Cleveland Avenue Guthrie, OK 73044 Limited, Drive-thru $0

For 2021, Interbank had 45 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $137,363
Net interest income $132,790
Total noninterest income $14,947
Gross Fiduciary activities income $0
Service charges on deposit accounts $3,434
Trading account gains and fees $0
Additional Noninterest Income $11,513
Pre-tax net operating income $78,953
Securities gains (or losses, -) $0
Income before extraordinary items $78,953
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $78,953
Minority interest net income $0
Net income $78,953
Sale, conversion, retirement of capital stock, net $0
Net operating income $78,953

Interbank's gross interest income from loans was $137,363,000.
Interbank's net interest income from loans was $132,790,000.
Interbank's fee based income from loans was $3,434,000.
Interbank's net income from loans was $78,953,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,573
Provision for credit losses $0
Total noninterest expense $68,784
Salaries and employee benefits $40,582
Premises and equipment expense $13,693
Additional noninterest expense $14,509
Applicable income taxes $0
Net charge-offs $-604
Cash dividends $99,083

Interbank's interest expense for loans was $4,573,000.
Interbank's payroll and benefits expense were $40,582,000.
Interbank's property, plant and equipment expenses $13,693,000.

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 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 $3,680,610
Deposits held in domestic offices $3,680,610
Deposits by Individuals, partnerships, and corporations $3,363,307
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $277,665
Deposits by Commercial banks and other depository institutions in U.S. $39,638
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $2,456,033
Demand deposits $2,456,033
Nontransaction accounts $1,224,577
Money market deposit accounts (MMDAs) $533,068
Other savings deposits (excluding MMDAs) $347,205
Total time deposits $344,304
Total time and savings deposits $1,224,577
Noninterest-bearing deposits $1,153,756
Interest-bearing deposits $2,526,854
Retail deposits $3,587,254
IRAs and Keogh plan accounts $38,950
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $4,139,800
Cash & Balances due from depository institutions $886,027
Interest-bearing balances $853,014
Total securities $0
Federal funds sold & reverse repurchase $0
Net loans and leases $3,046,271
Loan and leases loss allowance $31,279
Trading account assets $0
Bank premises and fixed assets $73,673
Other real estate owned $6,181
Goodwill and other intangibles $89,008
All other assets $38,640

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $4,139,800
Total Liabilities $3,685,057
Total deposits $3,680,610
Interest-bearing deposits $2,526,854
Deposits held in domestic offices $3,680,610
% insured (estimated) $50
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $53
Subordinated debt $0
All other liabilities $4,394

Issued Loan Types

Type Value (in 000's)
Net loans and leases $3,046,271
Loan and leases loss allowance $31,279
Total loans and leases (domestic) $3,077,550
All real estate loans $2,034,327
Real estate loans in domestic offices $2,034,327
Construction and development loans $389,928
Residential 1-4 family construction $76,231
Other construction, all land development and other land $313,697
Loans secured by nonfarm nonresidential properties $1,324,139
Nonfarm nonresidential secured by owner-occupied properties $165,068
Commercial real estate & other non-farm, non-residential $1,159,071
Multifamily residential real estate $6,155
1-4 family residential loans $169,569
Farmland loans $144,536
Loans held in foreign offices $0
Farm loans $178,292
Commercial and industrial loans $852,689
To non-U.S. addressees $0
Loans to individuals $17,715
Credit card loans $0
Related Plans $0
Consumer Auto Loans $7,404
Other loans to individuals $10,311
All other loans & leases $2,486
Loans to foreign governments and official institutions $0
Other loans $348
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 $494
Restructured Loans & leases $2,159
Non 1-4 family restructured loans & leases $2,159
Total loans and leases (foreign) $0

InterBank had $3,046,271,000 of loans outstanding in 2021. $2,034,327,000 of loans were in real estate loans. $389,928,000 of loans were in development loans. $6,155,000 of loans were in multifamily mortgage loans. $169,569,000 of loans were in 1-4 family mortgage loans. $178,292,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,404,000 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 559 $110,976 $198,526
Nonfarm, nonresidential loans - <$100k 172 $6,060 $35,233
Nonfarm, nonresidential loans - $100-250k 148 $16,322 $110,284
Nonfarm, nonresidential loans - $250k-1MM 239 $88,594 $370,686
Commercial & Industrial, US addressed loans - <$1MM 1,560 $79,064 $50,682
Commercial & Industrial, US addressed loans - <$100k 1,271 $24,763 $19,483
Commercial & Industrial, US addressed loans - $100-250k 164 $17,159 $104,628
Commercial & Industrial, US addressed loans - $250k-1MM 125 $37,142 $297,136
Farmland loans - <$1MM 379 $42,589 $112,372
Farmland loans - <$100k 175 $6,695 $38,257
Farmland loans - $100-250k 141 $17,317 $122,816
Farmland loans - $250k-1MM 63 $18,577 $294,873
Agriculture operations loans - <$1MM 1,318 $47,908 $36,349
Agriculture operations loans - <$100k 1,115 $21,719 $19,479
Agriculture operations loans - $100-250k 142 $14,826 $104,408
Agriculture operations loans - $250k-1MM 61 $11,363 $186,279