Mcclain Bank Mortgage Rates, Fees & Info

Purcell, OK

LEI: 549300VWTT8C7CZNY023

Tax ID: 73-0345910

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Mcclain Bank is a smaller bank specializing in Home Purchase and Refi loans. Mcclain Bank 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 (well, only) market is Oklahoma City.

    Mcclain 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.

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    Originations

    255

    Origination Dollar Volume (All Markets)

    $32,615,000

    Employee count

    54

    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
    OKLAHOMA CITY, OK (FHA|USDA|VA) 230 $29,990,000 $130,391 $0 0.00%
    Outside of Metro Areas 25 $2,625,000 $105,000 $0 0.00%
    Mcclain Bank's top markets include and Oklahoma City among others.

    Their top states include:
  • Oklahoma (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 218 $27,030,000 $123,991 $0 0.00%
    FHA 21 $3,105,000 $147,857 $0 0.00%
    VA 8 $1,360,000 $170,000 $0 0.00%
    USDA 8 $1,120,000 $140,000 $0 0.00%

    For 2018, Mcclain Bank's most frequently originated type of loan was Conventional, with 218 originations. Their 2nd most popular type was FHA, with 21 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 119 $18,565,000 $156,008 $0 0.00%
    Refi 106 $11,530,000 $108,774 $0 0.00%
    Home Improvement 11 $405,000 $36,818 $0 0.00%
    Cash Out Refi 11 $1,405,000 $127,727 $0 0.00%
    Other 8 $710,000 $88,750 $0 0.00%

    For 2018, Mcclain Bank's most frequently cited loan purpose was Home Purchase, with 119 originations. The 2nd most popular reason was Refi, with 106 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 255 $32,615,000 $127,902 $0 0.00%

    For 2018, Mcclain Bank's most frequently cited loan duration was Other, with 255 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 134 $7,300,000 $54,478 $0 0.00%
    $100k-200k 89 $13,275,000 $149,157 $0 0.00%
    $200k-400k 26 $7,040,000 $270,769 $0 0.00%
    $400k-600k 3 $1,445,000 $481,667 $0 0.00%
    $600k-1MM 2 $1,860,000 $930,000 $0 0.00%
    $1MM+ 1 $1,695,000 $1,695,000 $0 0.00%

    2018 saw Mcclain Bank place emphasis on $100,000 or less loans with 134 originations, totaling $7,300,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 57 $6,685,000 $117,281 $0 0.00%
    $50k or less 50 $4,760,000 $95,200 $0 0.00%
    $100k-150k 35 $4,765,000 $136,143 $0 0.00%
    $75k-100k 35 $5,425,000 $155,000 $0 0.00%
    $150k-250k 14 $1,630,000 $116,429 $0 0.00%
    $250k+ 3 $135,000 $45,000 $0 0.00%

    Mcclain Bank lent most frequently to those with incomes in the $50k-75k range, with 57 originations. The second most popular income band? $50k or less, with 50 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 255 $32,615,000 $127,902 $0 0.00%

    Mcclain Bank lent most frequently to those with DTI ratios of Exempt%, with 255 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 167 $19,155,000 $114,701 $0 0.00%
    Not applicable 57 $8,485,000 $148,860 $0 0.00%
    American Indian 23 $3,605,000 $156,739 $0 0.00%
    Not provided 3 $705,000 $235,000 $0 0.00%
    Black 4 $550,000 $137,500 $0 0.00%
    Asian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.50%

    Mcclain Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.61%

    Mcclain Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 255 $32,615,000 $127,902

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $85,000 $85,000
    Multifamily:Site-Built 4 $4,080,000 $1,020,000
    Single Family (1-4 Units):Manufactured 5 $195,000 $39,000
    Single Family (1-4 Units):Site-Built 245 $28,255,000 $115,327

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MCLEAN MORTGAGE CORPORATION VA mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    McClain Bank 131 West Main Street Purcell, OK 73080 Full Service B&M $146,629
    McClain Bank 200 North Third Street Purcell, OK 73080 Limited, Drive-thru $0
    McClain Bank 213 N. Main Street Noble, OK 73068 Full Service B&M $16,043
    McClain Bank 2900 West Lindsey Norman, OK 73072 Full Service B&M $29,167
    McClain Bank 750 Canadian Trails Drive Norman, OK 73072 Limited, Mobile/Seasonal Office $0

    For 2018, Mcclain Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,963
    Net interest income $8,931
    Total noninterest income $2,352
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $830
    Trading account gains and fees $0
    Additional Noninterest Income $1,522
    Pre-tax net operating income $4,103
    Securities gains (or losses, -) $-6
    Income before extraordinary items $3,127
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,127
    Minority interest net income $0
    Net income $3,127
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,131

    Mcclain Bank's gross interest income from loans was $9,963,000.
    Mcclain Bank's net interest income from loans was $8,931,000.
    Mcclain Bank's fee based income from loans was $830,000.
    Mcclain Bank's net income from loans was $3,127,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,032
    Provision for credit losses $0
    Total noninterest expense $7,180
    Salaries and employee benefits $4,275
    Premises and equipment expense $905
    Additional noninterest expense $2,000
    Applicable income taxes $970
    Net charge-offs $-16
    Cash dividends $840

    Mcclain Bank's interest expense for loans was $1,032,000.
    Mcclain Bank's payroll and benefits expense were $4,275,000.
    Mcclain Bank's property, plant and equipment expenses $905,000.

    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 $199,882
    Deposits held in domestic offices $199,882
    Deposits by Individuals, partnerships, and corporations $169,385
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $29,512
    Deposits by Commercial banks and other depository institutions in U.S. $982
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $101,787
    Demand deposits $51,109
    Nontransaction accounts $98,095
    Money market deposit accounts (MMDAs) $43,855
    Other savings deposits (excluding MMDAs) $23,741
    Total time deposits $30,499
    Total time and savings deposits $148,773
    Noninterest-bearing deposits $51,109
    Interest-bearing deposits $148,773
    Retail deposits $194,467
    IRAs and Keogh plan accounts $4,906
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $227,820
    Cash & Balances due from depository institutions $43,068
    Interest-bearing balances $37,998
    Total securities $13,882
    Federal funds sold & reverse repurchase $0
    Net loans and leases $156,964
    Loan and leases loss allowance $1,668
    Trading account assets $0
    Bank premises and fixed assets $5,971
    Other real estate owned $122
    Goodwill and other intangibles $0
    All other assets $7,813

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $227,820
    Total Liabilities $201,949
    Total deposits $199,882
    Interest-bearing deposits $148,773
    Deposits held in domestic offices $199,882
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $1,070
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $997

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $156,964
    Loan and leases loss allowance $1,668
    Total loans and leases (domestic) $158,632
    All real estate loans $134,795
    Real estate loans in domestic offices $134,795
    Construction and development loans $25,473
    Residential 1-4 family construction $3,927
    Other construction, all land development and other land $21,546
    Loans secured by nonfarm nonresidential properties $46,367
    Nonfarm nonresidential secured by owner-occupied properties $29,497
    Commercial real estate & other non-farm, non-residential $16,870
    Multifamily residential real estate $736
    1-4 family residential loans $51,806
    Farmland loans $10,413
    Loans held in foreign offices $0
    Farm loans $3,373
    Commercial and industrial loans $15,638
    To non-U.S. addressees $0
    Loans to individuals $4,413
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,482
    Other loans to individuals $2,931
    All other loans & leases $413
    Loans to foreign governments and official institutions $0
    Other loans $51
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    McClain Bank had $156,964,000 of loans outstanding in 2018. $134,795,000 of loans were in real estate loans. $25,473,000 of loans were in development loans. $736,000 of loans were in multifamily mortgage loans. $51,806,000 of loans were in 1-4 family mortgage loans. $3,373,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,482,000 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 98 $19,075 $194,643
    Nonfarm, nonresidential loans - <$100k 32 $1,065 $33,281
    Nonfarm, nonresidential loans - $100-250k 35 $4,967 $141,914
    Nonfarm, nonresidential loans - $250k-1MM 31 $13,043 $420,742
    Commercial & Industrial, US addressed loans - <$1MM 265 $13,768 $51,955
    Commercial & Industrial, US addressed loans - <$100k 208 $4,078 $19,606
    Commercial & Industrial, US addressed loans - $100-250k 36 $3,316 $92,111
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $6,374 $303,524
    Farmland loans - <$1MM 185 $10,413 $56,286
    Farmland loans - <$100k 185 $10,413 $56,286
    Agriculture operations loans - <$1MM 130 $3,373 $25,946
    Agriculture operations loans - <$100k 130 $3,373 $25,946