Mcclain Bank Mortgage Rates, Fees & Info

Purcell, OK

LEI: 549300VWTT8C7CZNY023

Tax ID: 73-0345910

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

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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

    264

    Origination Dollar Volume (All Markets)

    $47,230,000

    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) 243 $43,555,000 $179,239 $0 0.00%
    Outside of Metro Areas 21 $3,675,000 $175,000 $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 251 $45,355,000 $180,697 $0 0.00%
    USDA 13 $1,875,000 $144,231 $0 0.00%

    For 2021, Mcclain Bank's most frequently originated type of loan was Conventional, with 251 originations. Their 2nd most popular type was USDA, with 13 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 122 $20,910,000 $171,393 $0 0.00%
    Home Purchase 94 $17,560,000 $186,809 $0 0.00%
    Cash Out Refi 38 $7,490,000 $197,105 $0 0.00%
    Other 8 $1,170,000 $146,250 $0 0.00%
    Home Improvement 2 $100,000 $50,000 $0 0.00%

    For 2021, Mcclain Bank's most frequently cited loan purpose was Refi, with 122 originations. The 2nd most popular reason was Home Purchase, with 94 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 264 $47,230,000 $178,902 $0 0.00%

    For 2021, Mcclain Bank's most frequently cited loan duration was Other, with 264 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 101 $14,695,000 $145,495 $0 0.00%
    $100,000 or less 79 $5,475,000 $69,304 $0 0.00%
    $200k-400k 67 $18,075,000 $269,776 $0 0.00%
    $400k-600k 12 $5,530,000 $460,833 $0 0.00%
    $600k-1MM 5 $3,455,000 $691,000 $0 0.00%

    2021 saw Mcclain Bank place emphasis on $100k-200k loans with 101 originations, totaling $14,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 40 $6,580,000 $164,500 $0 0.00%
    $100k-150k 39 $8,265,000 $211,923 $0 0.00%
    $75k-100k 37 $6,845,000 $185,000 $0 0.00%
    $50k or less 33 $3,535,000 $107,121 $0 0.00%
    $150k-250k 25 $7,035,000 $281,400 $0 0.00%
    $250k+ 7 $1,915,000 $273,571 $0 0.00%

    Mcclain Bank lent most frequently to those with incomes in the $50k-75k range, with 40 originations. The second most popular income band? $100k-150k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 264 $47,230,000 $178,902 $0 0.00%

    Mcclain Bank lent most frequently to those with DTI ratios of Exempt%, with 264 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 165 $31,365,000 $190,091 $0 0.00%
    Not applicable 78 $12,380,000 $158,718 $0 0.00%
    American Indian 14 $2,120,000 $151,429 $0 0.00%
    Not provided 3 $895,000 $298,333 $0 0.00%
    Black 3 $405,000 $135,000 $0 0.00%
    Asian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.89%

    Mcclain Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.30%

    Mcclain Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 264 $47,230,000 $178,902

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    264 $47,230,000 $178,902

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MCLEAN MORTGAGE CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%
    MCLEAN MORTGAGE CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing 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 $170,460
    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 $27,963
    Mcclain Bank 2900 West Lindsey Norman, OK 73072 Full Service B&M $31,484
    Mcclain Bank 750 Canadian Trails Drive Norman, OK 73072 Limited, Mobile/Seasonal Office $0

    For 2021, Mcclain Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,648
    Net interest income $9,388
    Total noninterest income $2,872
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $809
    Trading account gains and fees $0
    Additional Noninterest Income $2,063
    Pre-tax net operating income $4,400
    Securities gains (or losses, -) $2
    Income before extraordinary items $3,305
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,305
    Minority interest net income $0
    Net income $3,305
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,303

    Mcclain Bank's gross interest income from loans was $9,648,000.
    Mcclain Bank's net interest income from loans was $9,388,000.
    Mcclain Bank's fee based income from loans was $809,000.
    Mcclain Bank's net income from loans was $3,305,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $260
    Provision for credit losses $0
    Total noninterest expense $7,860
    Salaries and employee benefits $4,648
    Premises and equipment expense $932
    Additional noninterest expense $2,280
    Applicable income taxes $1,097
    Net charge-offs $-23
    Cash dividends $1,260

    Mcclain Bank's interest expense for loans was $260,000.
    Mcclain Bank's payroll and benefits expense were $4,648,000.
    Mcclain Bank's property, plant and equipment expenses $932,000.

    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 3.0%
    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 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $238,961
    Deposits held in domestic offices $238,961
    Deposits by Individuals, partnerships, and corporations $216,417
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $22,542
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $131,355
    Demand deposits $84,791
    Nontransaction accounts $107,606
    Money market deposit accounts (MMDAs) $40,791
    Other savings deposits (excluding MMDAs) $40,987
    Total time deposits $25,828
    Total time and savings deposits $154,170
    Noninterest-bearing deposits $84,791
    Interest-bearing deposits $154,170
    Retail deposits $233,958
    IRAs and Keogh plan accounts $4,616
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $269,894
    Cash & Balances due from depository institutions $60,376
    Interest-bearing balances $56,825
    Total securities $22,378
    Federal funds sold & reverse repurchase $2,553
    Net loans and leases $170,746
    Loan and leases loss allowance $1,723
    Trading account assets $0
    Bank premises and fixed assets $5,315
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $8,526

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $269,894
    Total Liabilities $241,108
    Total deposits $238,961
    Interest-bearing deposits $154,170
    Deposits held in domestic offices $238,961
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $1,356
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $791

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $170,746
    Loan and leases loss allowance $1,723
    Total loans and leases (domestic) $172,469
    All real estate loans $139,091
    Real estate loans in domestic offices $139,091
    Construction and development loans $12,523
    Residential 1-4 family construction $4,756
    Other construction, all land development and other land $7,767
    Loans secured by nonfarm nonresidential properties $47,605
    Nonfarm nonresidential secured by owner-occupied properties $32,805
    Commercial real estate & other non-farm, non-residential $14,800
    Multifamily residential real estate $104
    1-4 family residential loans $56,788
    Farmland loans $22,071
    Loans held in foreign offices $0
    Farm loans $2,355
    Commercial and industrial loans $27,248
    To non-U.S. addressees $0
    Loans to individuals $2,958
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,276
    Other loans to individuals $1,682
    All other loans & leases $817
    Loans to foreign governments and official institutions $0
    Other loans $74
    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 $170,746,000 of loans outstanding in 2021. $139,091,000 of loans were in real estate loans. $12,523,000 of loans were in development loans. $104,000 of loans were in multifamily mortgage loans. $56,788,000 of loans were in 1-4 family mortgage loans. $2,355,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,276,000 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 72 $14,620 $203,056
    Nonfarm, nonresidential loans - <$100k 23 $1,275 $55,435
    Nonfarm, nonresidential loans - $100-250k 22 $3,036 $138,000
    Nonfarm, nonresidential loans - $250k-1MM 27 $10,309 $381,815
    Commercial & Industrial, US addressed loans - <$1MM 370 $23,996 $64,854
    Commercial & Industrial, US addressed loans - <$100k 278 $8,494 $30,554
    Commercial & Industrial, US addressed loans - $100-250k 65 $7,073 $108,815
    Commercial & Industrial, US addressed loans - $250k-1MM 27 $8,429 $312,185
    Farmland loans - <$1MM 204 $14,822 $72,657
    Farmland loans - <$100k 160 $5,814 $36,338
    Farmland loans - $100-250k 29 $3,332 $114,897
    Farmland loans - $250k-1MM 15 $5,676 $378,400
    Agriculture operations loans - <$1MM 92 $2,354 $25,587
    Agriculture operations loans - <$100k 86 $1,528 $17,767
    Agriculture operations loans - $100-250k 5 $576 $115,200
    Agriculture operations loans - $250k-1MM 1 $250 $250,000