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 Refi and Home Purchase loans. Mcclain Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top (well, only) market is Oklahoma City.

    Mcclain Bank has an above 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

    336

    Origination Dollar Volume (All Markets)

    $54,640,000

    Employee count

    51

    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) 303 $49,685,000 $163,977 $0 0.00%
    Outside of Metro Areas 33 $4,955,000 $150,152 $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 319 $52,065,000 $163,213 $0 0.00%
    USDA 17 $2,575,000 $151,471 $0 0.00%

    For 2020, Mcclain Bank's most frequently originated type of loan was Conventional, with 319 originations. Their 2nd most popular type was USDA, with 17 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 158 $25,470,000 $161,203 $0 0.00%
    Home Purchase 124 $20,680,000 $166,774 $0 0.00%
    Cash Out Refi 37 $7,285,000 $196,892 $0 0.00%
    Other 11 $955,000 $86,818 $0 0.00%
    Home Improvement 6 $250,000 $41,667 $0 0.00%

    For 2020, Mcclain Bank's most frequently cited loan purpose was Refi, with 158 originations. The 2nd most popular reason was Home Purchase, with 124 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 336 $54,640,000 $162,619 $0 0.00%

    For 2020, Mcclain Bank's most frequently cited loan duration was Other, with 336 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 129 $7,825,000 $60,659 $0 0.00%
    $100k-200k 121 $17,355,000 $143,430 $0 0.00%
    $200k-400k 73 $20,365,000 $278,973 $0 0.00%
    $400k-600k 6 $2,810,000 $468,333 $0 0.00%
    $600k-1MM 6 $4,600,000 $766,667 $0 0.00%
    $1MM+ 1 $1,685,000 $1,685,000 $0 0.00%

    2020 saw Mcclain Bank place emphasis on $100,000 or less loans with 129 originations, totaling $7,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 60 $9,130,000 $152,167 $0 0.00%
    $50k or less 56 $5,590,000 $99,821 $0 0.00%
    $100k-150k 42 $8,020,000 $190,952 $0 0.00%
    $75k-100k 36 $6,150,000 $170,833 $0 0.00%
    $150k-250k 35 $7,755,000 $221,571 $0 0.00%
    $250k+ 3 $1,355,000 $451,667 $0 0.00%

    Mcclain Bank lent most frequently to those with incomes in the $50k-75k range, with 60 originations. The second most popular income band? $50k or less, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 336 $54,640,000 $162,619 $0 0.00%

    Mcclain Bank lent most frequently to those with DTI ratios of Exempt%, with 336 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 208 $35,090,000 $168,702 $0 0.00%
    Not applicable 97 $15,225,000 $156,959 $0 0.00%
    American Indian 24 $3,270,000 $136,250 $0 0.00%
    Not provided 3 $455,000 $151,667 $0 0.00%
    Black 2 $450,000 $225,000 $0 0.00%
    Asian 1 $95,000 $95,000 $0 0.00%
    Native Hawaiian or Islander 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.96%

    Mcclain Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.04%

    Mcclain Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 336 $54,640,000 $162,619

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 5 $1,515,000 $303,000
    Multifamily:Site-Built 7 $4,515,000 $645,000
    Single Family (1-4 Units):Manufactured 10 $1,620,000 $162,000
    Single Family (1-4 Units):Site-Built 314 $46,990,000 $149,650

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MCLEAN MORTGAGE CORPORATION FHA mortgage Closing on a mortgage 1 50.0%
    MCLEAN MORTGAGE CORPORATION Other type of mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Mcclain Bank 131 West Main Street Purcell, OK 73080 Full Service B&M $174,412
    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 $22,250
    Mcclain Bank 2900 West Lindsey Norman, OK 73072 Full Service B&M $29,465
    Mcclain Bank 750 Canadian Trails Drive Norman, OK 73072 Limited, Mobile/Seasonal Office $0

    For 2020, Mcclain Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,206
    Net interest income $9,638
    Total noninterest income $1,681
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $803
    Trading account gains and fees $0
    Additional Noninterest Income $878
    Pre-tax net operating income $2,674
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,019
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,019
    Minority interest net income $0
    Net income $2,019
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,019

    Mcclain Bank's gross interest income from loans was $10,206,000.
    Mcclain Bank's net interest income from loans was $9,638,000.
    Mcclain Bank's fee based income from loans was $803,000.
    Mcclain Bank's net income from loans was $2,019,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $568
    Provision for credit losses $1,015
    Total noninterest expense $7,630
    Salaries and employee benefits $4,581
    Premises and equipment expense $882
    Additional noninterest expense $2,167
    Applicable income taxes $655
    Net charge-offs $835
    Cash dividends $560

    Mcclain Bank's interest expense for loans was $568,000.
    Mcclain Bank's payroll and benefits expense were $4,581,000.
    Mcclain Bank's property, plant and equipment expenses $882,000.

    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 3.0%
    Credit card loans 0.0%
    Other individual loans 3.0%
    Auto loans 1.0%
    Other consumer loans 4.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $252,669
    Deposits held in domestic offices $252,669
    Deposits by Individuals, partnerships, and corporations $217,124
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $34,550
    Deposits by Commercial banks and other depository institutions in U.S. $994
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $139,858
    Demand deposits $75,431
    Nontransaction accounts $112,811
    Money market deposit accounts (MMDAs) $53,554
    Other savings deposits (excluding MMDAs) $31,375
    Total time deposits $27,882
    Total time and savings deposits $177,238
    Noninterest-bearing deposits $75,431
    Interest-bearing deposits $177,238
    Retail deposits $247,603
    IRAs and Keogh plan accounts $4,810
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $281,680
    Cash & Balances due from depository institutions $89,432
    Interest-bearing balances $83,840
    Total securities $12,054
    Federal funds sold & reverse repurchase $5,093
    Net loans and leases $161,472
    Loan and leases loss allowance $1,700
    Trading account assets $0
    Bank premises and fixed assets $5,573
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $8,056

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $281,680
    Total Liabilities $254,773
    Total deposits $252,669
    Interest-bearing deposits $177,238
    Deposits held in domestic offices $252,669
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $1,444
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $660

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $161,472
    Loan and leases loss allowance $1,700
    Total loans and leases (domestic) $163,172
    All real estate loans $135,195
    Real estate loans in domestic offices $135,195
    Construction and development loans $12,590
    Residential 1-4 family construction $3,695
    Other construction, all land development and other land $8,895
    Loans secured by nonfarm nonresidential properties $51,599
    Nonfarm nonresidential secured by owner-occupied properties $32,490
    Commercial real estate & other non-farm, non-residential $19,109
    Multifamily residential real estate $496
    1-4 family residential loans $53,984
    Farmland loans $16,526
    Loans held in foreign offices $0
    Farm loans $2,458
    Commercial and industrial loans $21,455
    To non-U.S. addressees $0
    Loans to individuals $3,756
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,394
    Other loans to individuals $2,362
    All other loans & leases $308
    Loans to foreign governments and official institutions $0
    Other loans $45
    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 $161,472,000 of loans outstanding in 2020. $135,195,000 of loans were in real estate loans. $12,590,000 of loans were in development loans. $496,000 of loans were in multifamily mortgage loans. $53,984,000 of loans were in 1-4 family mortgage loans. $2,458,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,394,000 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 75 $15,235 $203,133
    Nonfarm, nonresidential loans - <$100k 22 $937 $42,591
    Nonfarm, nonresidential loans - $100-250k 27 $3,805 $140,926
    Nonfarm, nonresidential loans - $250k-1MM 26 $10,493 $403,577
    Commercial & Industrial, US addressed loans - <$1MM 339 $19,228 $56,720
    Commercial & Industrial, US addressed loans - <$100k 268 $7,261 $27,093
    Commercial & Industrial, US addressed loans - $100-250k 50 $5,380 $107,600
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $6,587 $313,667
    Farmland loans - <$1MM 192 $16,526 $86,073
    Farmland loans - <$100k 192 $16,526 $86,073
    Agriculture operations loans - <$1MM 102 $2,458 $24,098
    Agriculture operations loans - <$100k 102 $2,458 $24,098