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
  • 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 a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) 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.

    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.

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    Originations

    232

    Origination Dollar Volume (All Markets)

    $34,780,000

    Employee count

    50

    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) 209 $30,035,000 $143,708 $0 0.00%
    Outside of Metro Areas 23 $4,745,000 $206,304 $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 221 $33,445,000 $151,335 $0 0.00%
    USDA 7 $825,000 $117,857 $0 0.00%
    FHA 4 $510,000 $127,500 $0 0.00%

    For 2019, Mcclain Bank's most frequently originated type of loan was Conventional, with 221 originations. Their 2nd most popular type was USDA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 113 $19,905,000 $176,150 $0 0.00%
    Refi 99 $12,855,000 $129,848 $0 0.00%
    Other 11 $1,005,000 $91,364 $0 0.00%
    Cash Out Refi 6 $920,000 $153,333 $0 0.00%
    Home Improvement 3 $95,000 $31,667 $0 0.00%

    For 2019, Mcclain Bank's most frequently cited loan purpose was Home Purchase, with 113 originations. The 2nd most popular reason was Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 232 $34,780,000 $149,914 $0 0.00%

    For 2019, Mcclain Bank's most frequently cited loan duration was Other, with 232 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 123 $6,015,000 $48,902 $0 0.00%
    $100k-200k 63 $9,095,000 $144,365 $0 0.00%
    $200k-400k 36 $9,680,000 $268,889 $0 0.00%
    $1MM+ 5 $7,715,000 $1,543,000 $0 0.00%
    $400k-600k 5 $2,275,000 $455,000 $0 0.00%

    2019 saw Mcclain Bank place emphasis on $100,000 or less loans with 123 originations, totaling $6,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 49 $5,835,000 $119,082 $0 0.00%
    $50k or less 32 $2,740,000 $85,625 $0 0.00%
    $75k-100k 26 $4,010,000 $154,231 $0 0.00%
    $100k-150k 25 $5,065,000 $202,600 $0 0.00%
    $150k-250k 14 $2,560,000 $182,857 $0 0.00%
    $250k+ 7 $3,015,000 $430,714 $0 0.00%

    Mcclain Bank lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $50k or less, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 232 $34,780,000 $149,914 $0 0.00%

    Mcclain Bank lent most frequently to those with DTI ratios of Exempt%, with 232 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 135 $21,395,000 $158,481 $0 0.00%
    Not applicable 77 $11,295,000 $146,688 $0 0.00%
    American Indian 12 $1,520,000 $126,667 $0 0.00%
    Not provided 5 $405,000 $81,000 $0 0.00%
    Black 3 $165,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.29%

    Mcclain Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.90%

    Mcclain Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 232 $34,780,000 $149,914

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $405,000 $405,000
    Multifamily:Site-Built 7 $6,095,000 $870,714
    Single Family (1-4 Units):Manufactured 5 $205,000 $41,000
    Single Family (1-4 Units):Site-Built 219 $28,075,000 $128,196

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    McClain Bank 131 West Main Street Purcell, OK 73080 Full Service B&M $154,950
    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 $17,131
    McClain Bank 2900 West Lindsey Norman, OK 73072 Full Service B&M $29,274
    McClain Bank 750 Canadian Trails Drive Norman, OK 73072 Limited, Mobile/Seasonal Office $0

    For 2019, Mcclain Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,699
    Net interest income $9,444
    Total noninterest income $2,370
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $842
    Trading account gains and fees $0
    Additional Noninterest Income $1,528
    Pre-tax net operating income $4,412
    Securities gains (or losses, -) $-14
    Income before extraordinary items $3,285
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,285
    Minority interest net income $0
    Net income $3,285
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,296

    Mcclain Bank's gross interest income from loans was $10,699,000.
    Mcclain Bank's net interest income from loans was $9,444,000.
    Mcclain Bank's fee based income from loans was $842,000.
    Mcclain Bank's net income from loans was $3,285,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,255
    Provision for credit losses $48
    Total noninterest expense $7,354
    Salaries and employee benefits $4,285
    Premises and equipment expense $930
    Additional noninterest expense $2,139
    Applicable income taxes $1,113
    Net charge-offs $196
    Cash dividends $3,909

    Mcclain Bank's interest expense for loans was $1,255,000.
    Mcclain Bank's payroll and benefits expense were $4,285,000.
    Mcclain Bank's property, plant and equipment expenses $930,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 9.0%
    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 $203,781
    Deposits held in domestic offices $203,781
    Deposits by Individuals, partnerships, and corporations $175,053
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,031
    Deposits by Commercial banks and other depository institutions in U.S. $2,697
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $99,911
    Demand deposits $53,470
    Nontransaction accounts $103,870
    Money market deposit accounts (MMDAs) $48,938
    Other savings deposits (excluding MMDAs) $26,066
    Total time deposits $28,866
    Total time and savings deposits $150,311
    Noninterest-bearing deposits $53,470
    Interest-bearing deposits $150,311
    Retail deposits $199,027
    IRAs and Keogh plan accounts $4,780
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $231,232
    Cash & Balances due from depository institutions $43,790
    Interest-bearing balances $38,816
    Total securities $12,209
    Federal funds sold & reverse repurchase $0
    Net loans and leases $161,272
    Loan and leases loss allowance $1,520
    Trading account assets $0
    Bank premises and fixed assets $5,864
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $8,097

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $231,232
    Total Liabilities $205,844
    Total deposits $203,781
    Interest-bearing deposits $150,311
    Deposits held in domestic offices $203,781
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $1,139
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $924

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $161,272
    Loan and leases loss allowance $1,520
    Total loans and leases (domestic) $162,792
    All real estate loans $135,109
    Real estate loans in domestic offices $135,109
    Construction and development loans $18,126
    Residential 1-4 family construction $4,127
    Other construction, all land development and other land $13,999
    Loans secured by nonfarm nonresidential properties $50,090
    Nonfarm nonresidential secured by owner-occupied properties $32,062
    Commercial real estate & other non-farm, non-residential $18,028
    Multifamily residential real estate $520
    1-4 family residential loans $50,056
    Farmland loans $16,317
    Loans held in foreign offices $0
    Farm loans $3,097
    Commercial and industrial loans $19,842
    To non-U.S. addressees $0
    Loans to individuals $4,230
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,499
    Other loans to individuals $2,731
    All other loans & leases $514
    Loans to foreign governments and official institutions $0
    Other loans $229
    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 $161,272,000 of loans outstanding in 2019. $135,109,000 of loans were in real estate loans. $18,126,000 of loans were in development loans. $520,000 of loans were in multifamily mortgage loans. $50,056,000 of loans were in 1-4 family mortgage loans. $3,097,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,499,000 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 89 $16,724 $187,910
    Nonfarm, nonresidential loans - <$100k 27 $929 $34,407
    Nonfarm, nonresidential loans - $100-250k 34 $4,676 $137,529
    Nonfarm, nonresidential loans - $250k-1MM 28 $11,119 $397,107
    Commercial & Industrial, US addressed loans - <$1MM 305 $17,806 $58,380
    Commercial & Industrial, US addressed loans - <$100k 234 $6,125 $26,175
    Commercial & Industrial, US addressed loans - $100-250k 49 $5,015 $102,347
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $6,666 $303,000
    Farmland loans - <$1MM 191 $16,317 $85,429
    Farmland loans - <$100k 191 $16,317 $85,429
    Agriculture operations loans - <$1MM 121 $3,097 $25,595
    Agriculture operations loans - <$100k 121 $3,097 $25,595