Overview of State Bank of Wynnewood

Established in the year 1910 and with its main office located in the city of Wynnewood which is located in the state of Oklahoma, State Bank of Wynnewood is a relatively small bank that has been operating for 112 years. Since 1934, the Federal Deposit Insurance Corporation has provided insurance to the bank. Along with the National Credit Union Administration (NCUA), the FDIC is the only other governmental agency that provides deposit insurance to American depositary institutions.  The FDIC is also serves as the primary federal regulator for the bank. Mainly because of its relative size, geographic reach and presence, the bank is considered to be a community bank, instead of a national bank. Based on our estimates, we believe its asset base of $103 million ranks it in the 20th percentile of banks in the United States. State Bank of Wynnewood does not currently have any offices located outside of the United States, and functionally is a domestic bank. Within the U.S., the bank currently has 1 office. In terms of headcount, the bank currently has 14 employees.

Details on the Bank’s Asset Composition

The bank currently has total assets of $103 million, total net loans to customers of $38 million and total deposits outstanding of $85 million as of this writing. Domestic deposits currently represent (in terms of total size), 83% of the bank’s total assets, and 100% of the bank’s total deposits outstanding. Within these deposits 75% are insured based on the latest available information. Moving on to the components of the bank’s assets we can see that loans provided to customers represent 38% of the banks total assets. Of this amount, loans related to real estate activities comprised 76% of gross loans outstanding. State Bank of Wynnewood has $9 million of outstanding 1-4 family residential loans (mortgages), which in total represents 22% of its loans outstanding. Loans to individuals and loans to commercial and industrial interests represent 5% and 14% of loans outstanding, respectively. Loans to farmland and farms represents 37% of loans outstanding.

Contact Information For State Bank of Wynnewood

  • Main Office Address: 117 S. Dean A. Mcgee Ave., Wynnewood, OK 73098
  • Website: http://www.sbwok.com
  • Total Number of Branches: 1
  • Total Number of International Branches: None
  • Number of Employees: 14
  • FDIC Certificate Number: 4232
  • FDIC Community Bank: Yes
  • FDIC Field Office: Oklahoma City
  • Independent or Subsidiary Bank: Independent
  • Federal Reserve ID Number: 952257
  • Bank Charter Class: NM
  • Primary Regulator: FDIC

Financial Overview

state bank of wynnewood-financial-metrics-sept-21

State Bank of Wynnewood has total assets of $103 million which compares with $94 million in the prior year. This implies that over the past year, the bank’s asset base has shown an increase of 9.4%. Moving to the bank’s loan portfolio, the bank has net loans outstanding of $38 million based on the latest available information. Its net loans outstanding have decreased over the past year, with a decrease of 10.3%. Taking a closer look at the bank’s loan portfolio, we see that residential mortgages comprise 22% of the bank’s loan book. The bank has $9 million of residential mortgages outstanding, which compares with $9 million in the prior year. This implies a decrease of 5.6% over the past year. In addition, the bank provides loans to commercial and industrial businesses, which represents 13.9% of its total lending and stood at $5 million based on the latest available information. The bank also provides loans for farm-related activities, which currently amounts to 36.5% of its total loan portfolio. Finally, the bank also engages in the provision of auto loans. These are loans provided to customers to help finance vehicle purchases. Auto loans represent 1.3% of the bank’s total lending.

Bank Liquidity and Funding

Liquidity and funding are two important considerations when evaluating a bank. It gives us a sense of how a bank finances its activities and can help both depositors and customers better understand a banks financial positioning. Customer deposits is usually one of the cheapest ways to finance a bank. This is especially the case for accounts that don’t pay interest, such as checking accounts. State Bank of Wynnewood has total customer deposits of $85 million. Looking over the past year, its deposit base has increased substantially with a growth rate of 10.8%. In addition, the bank has a loan to deposit ratio of 45%, which is significantly below the average of banks in the United States. The average in the United States is approximately 82% and as a reminder, a lower ratio indicates greater liquidity. The entirety of the bank’s deposit base stems from domestic depositors.

Bank Performance and Capital Metrics

state bank of wynnewood-performance-metrics-sept-21

Moving on to the performance and capital metrics for the bank, in the above we have a chart that shows key performance metrics for State Bank of Wynnewood compared with the average U.S. bank. As a starting point, looking at the bank’s return on assets, over the past year it has improved. Importantly, on this metric we can also see that the bank is above the average bank. Return on assets tells us how productive a bank is being with its asset base. Next, looking at the bank’s return on equity, which tells us how much of a return the bank has generated for its owners, over the past year it has improved. In addition, we can also see that the bank is above the average bank on this metric. Another metric that is helpful in contextualizing a bank’s return on equity is its leverage ratio. A lower ratio means that the bank has a higher reliance on borrowing to deliver its return on equity. In this case, the total leverage ratio is currently above the average U.S. bank, and has declined over the past year. Finally, we could not find State Bank of Wynnewood’s risk-weighted asset information for this period and therefore had to make some assumptions and estimates. We estimate that the bank had a tier 1 capital ratio of 24.7% which is above the average U.S. bank.

Conclusion: State Bank of Wynnewood

Our final rating for State Bank of Wynnewood, after assessing the bank on several important metrics, is 4.4 out of 5.0, which is exceptional.  Finally, please note that the rating information is based on our proprietary scoring system. This system was developed by us and leverages data from a nationwide bank study. Importantly, keep in mind that none of the work presented is intended to be investment advice or advice of any sort and is presented purely for informational purposes.