Colony Bank Mortgage Rates, Fees & Info
Fitzgerald, GALEI: 254900AHLSHUJOTJG402
Tax ID: 58-1248467
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Bank Data
Review & Overview
Colony Bank is a smaller bank specializing in Refi and Home Purchase loans. Colony Bank has a high proportion of conventional loans. Their top markets by origination volume include: Savannah, Albany, Valdosta, Columbus, and Tifton among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)Colony Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Colony Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.56% | 5/4/24 |
| 30 Year Conventional Refi | 6.65% | 5/4/24 |
| 30 Year Cash-out Refi | 6.81% | 5/4/24 |
| 30 Year FHA Purchase | 7.31% | 5/4/24 |
| 30 Year FHA Refi | 7.84% | 5/4/24 |
| 30 Year VA Purchase | 6.27% | 5/4/24 |
| 30 Year VA Refi | 6.00% | 5/4/24 |
| 30 Year USDA Purchase | 6.80% | 5/4/24 |
| 15 Year Conventional Purchase | 6.00% | 5/4/24 |
| 15 Year Conventional Refi | 6.12% | 5/4/24 |
| 15 Year Cash-out Refi | 6.12% | 5/4/24 |
| 15 Year VA Purchase | 6.30% | 5/4/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Colony Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
474Origination Dollar Volume (All Markets)
$48,930,000Employee count
315Top 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 |
|---|---|---|---|---|---|
| SAVANNAH, GA (FHA|USDA|VA) | 33 | $10,255,000 | $310,758 | $2,262 | 5.61% |
| ALBANY, GA (FHA|USDA|VA) | 40 | $6,900,000 | $172,500 | $1,330 | 6.36% |
| VALDOSTA, GA (FHA|USDA|VA) | 69 | $5,725,000 | $82,971 | $1,100 | 6.39% |
| Outside of Metro Areas | 94 | $4,710,000 | $50,106 | $960 | 6.47% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 16 | $3,900,000 | $243,750 | $1,210 | 6.10% |
| Tifton, GA (FHA|USDA|VA) | 33 | $2,825,000 | $85,606 | $1,800 | 6.79% |
| HINESVILLE, GA (FHA|USDA|VA) | 2 | $2,520,000 | $1,260,000 | $0 | 5.60% |
| Cordele, GA (FHA|USDA|VA) | 30 | $2,310,000 | $77,000 | $776 | 6.33% |
| Fitzgerald, GA (FHA|USDA|VA) | 47 | $1,985,000 | $42,234 | $1,177 | 6.31% |
| Douglas, GA (FHA|USDA|VA) | 25 | $1,245,000 | $49,800 | $1,015 | 6.24% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 18 | $1,140,000 | $63,333 | $1,499 | 6.67% |
| Moultrie, GA (FHA|USDA|VA) | 20 | $980,000 | $49,000 | $792 | 6.51% |
| Statesboro, GA (FHA|USDA|VA) | 8 | $980,000 | $122,500 | $0 | 5.74% |
| LaGrange, GA-AL (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 5.20% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 6 | $400,000 | $66,667 | $0 | 5.86% |
| Thomaston, GA (FHA|USDA|VA) | 11 | $395,000 | $35,909 | $1,159 | 6.48% |
| PANAMA CITY, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 5.50% |
| Thomasville, GA (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $2,456 | 6.48% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 5.49% |
| Americus, GA (FHA|USDA|VA) | 3 | $185,000 | $61,667 | $965 | 6.36% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 6.50% |
| Waycross, GA (FHA|USDA|VA) | 3 | $95,000 | $31,667 | $1,072 | 6.03% |
| Dublin, GA (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $0 | 5.92% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,445 | 6.44% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.50% |
| Eufaula, AL-GA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 5.50% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 5.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 7.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Colony Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 474 | $48,930,000 | $103,228 | $1,138 | 6.33% |
For 2018, Colony Bank's most frequently originated type of loan was Conventional, with 474 originations.
Loan Reason
For 2018, Colony Bank's most frequently cited loan purpose was Refi, with 342 originations. The 2nd most popular reason was Home Purchase, with 107 originations.
Loan Duration/Length
For 2018, Colony Bank's most frequently cited loan duration was Other, with 248 originations. The 2nd most popular length was 5 Year, with 129 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 96 | $4,560,000 | $47,500 |
| $1k-2k | 2 | $450,000 | $225,000 |
| $2k-3k | 1 | $575,000 | $575,000 |
Colony Bank's average total fees were $1,558, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 96 originations.
Interest Rates
During 2018, Colony Bank's average interest rate for loans was 6.56%, while their most frequently originated rate bucket for loans was 6-7%, with 234 originations.
Loan Sizing
2018 saw Colony Bank place emphasis on $100,000 or less loans with 353 originations, totaling $14,425,000 in origination value.
Applicant Income
Colony Bank lent most frequently to those with incomes in the $50k or less range, with 168 originations. The second most popular income band? $50k-75k, with 57 originations.
Applicant Debt to Income Ratio
Colony Bank lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? 30-36%, with 21 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.49%
Colony Bank has a below average approval rate.
Pick Rate
Approvals leading to origination91.56%
Colony Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $15,000 | $15,000 |
| 100.2 | 1 | $5,000 | $5,000 |
| 300.9 | 1 | $15,000 | $15,000 |
| 314.6 | 1 | $15,000 | $15,000 |
| 315.2 | 1 | $15,000 | $15,000 |
| 323.0 | 1 | $15,000 | $15,000 |
| NA | 468 | $48,850,000 | $104,380 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Colony Bank | 1351 Southeast Bowens Mill Road Douglas, GA 31533 | Full Service B&M | $12,849 |
| Colony Bank | 103 Alabama Street Broxton, GA 31519 | Full Service B&M | $38,935 |
| Colony Bank | 1031 East 24th Avenue Cordele, GA 31015 | Full Service B&M | $77,973 |
| Colony Bank | 104 Second Street West Tifton, GA 31794 | Full Service B&M | $41,218 |
| Colony Bank | 1290 South Houston Lake Road Warner Robins, GA 31095 | Full Service B&M | $23,139 |
| Colony Bank | 137 Robert B Lee Drive Leesburg, GA 31763 | Full Service B&M | $55,826 |
| Colony Bank | 1581 Bradley Park Drive Columbus, GA 31904 | Full Service B&M | $39,976 |
| Colony Bank | 200 Gunn Road Centerville, GA 31028 | Full Service B&M | $15,576 |
| Colony Bank | 206 North Church Street Thomaston, GA 30286 | Full Service B&M | $36,175 |
| Colony Bank | 209 First Avenue Rochelle, GA 31079 | Full Service B&M | $38,230 |
| Colony Bank | 241 Drayton Street Savannah, GA 31401 | Full Service B&M | $9,170 |
| Colony Bank | 2609 Ledo Road Albany, GA 31707 | Full Service B&M | $31,809 |
| Colony Bank | 2910-N North Ashley Street Valdosta, GA 31602 | Full Service B&M | $9,882 |
| Colony Bank | 302 South Main Street Fitzgerald, GA 31750 | Full Service B&M | $231,078 |
| Colony Bank | 310 Main Street, West Soperton, GA 30457 | Full Service B&M | $16,993 |
| Colony Bank | 3774 Old U.S. Highway 41 North Valdosta, GA 31602 | Full Service B&M | $15,706 |
| Colony Bank | 416 East Washington Street Ashburn, GA 31714 | Limited, Drive-thru | $0 |
| Colony Bank | 515 East Washington Avenue Ashburn, GA 31714 | Full Service B&M | $73,627 |
| Colony Bank | 5510 Oak Street Eastman, GA 31023 | Full Service B&M | $54,896 |
| Colony Bank | 5987 Ogeechee Road Savannah, GA 31419 | Full Service B&M | $14,688 |
| Colony Bank | 601 North Main Street Sylvester, GA 31791 | Full Service B&M | $49,812 |
| Colony Bank | 602 E Screven Street Quitman, GA 31643 | Full Service B&M | $26,868 |
| Colony Bank | 621 East By-Pass N.E. Moultrie, GA 31768 | Full Service B&M | $39,427 |
| Colony Bank | 675 West Ward Street Douglas, GA 31533 | Full Service B&M | $57,407 |
| Colony Bank | 7011 Hodgson Memorial Drive Savannah, GA 31406 | Full Service B&M | $27,503 |
| Colony Bank | U.S. Highway 129 And Roanoke Drive Fitzgerald, GA 31750 | Limited, Drive-thru | $0 |
For 2018, Colony Bank had 26 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $49,022 |
| Net interest income | $41,753 |
| Total noninterest income | $9,304 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $4,374 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,930 |
| Pre-tax net operating income | $16,812 |
| Securities gains (or losses, -) | $116 |
| Income before extraordinary items | $13,506 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $13,506 |
| Minority interest net income | $0 |
| Net income | $13,506 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $13,413 |
Colony Bank's gross interest income from loans was $49,022,000.
Colony Bank's net interest income from loans was $41,753,000.
Colony Bank's fee based income from loans was $4,374,000.
Colony Bank's net income from loans was $13,506,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $7,269 |
| Provision for credit losses | $201 |
| Total noninterest expense | $34,044 |
| Salaries and employee benefits | $19,640 |
| Premises and equipment expense | $4,251 |
| Additional noninterest expense | $10,153 |
| Applicable income taxes | $3,422 |
| Net charge-offs | $431 |
| Cash dividends | $8,300 |
Colony Bank's interest expense for loans was $7,269,000.
Colony Bank's payroll and benefits expense were $19,640,000.
Colony Bank's property, plant and equipment expenses $4,251,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 1.0% |
| Personal loans | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 0.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,086,063 |
| Deposits held in domestic offices | $1,086,063 |
| Deposits by Individuals, partnerships, and corporations | $915,485 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $158,028 |
| Deposits by Commercial banks and other depository institutions in U.S. | $12,550 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $110,223 |
| Demand deposits | $110,223 |
| Nontransaction accounts | $975,840 |
| Money market deposit accounts (MMDAs) | $555,356 |
| Other savings deposits (excluding MMDAs) | $79,453 |
| Total time deposits | $341,031 |
| Total time and savings deposits | $975,840 |
| Noninterest-bearing deposits | $49,170 |
| Interest-bearing deposits | $1,036,893 |
| Retail deposits | $952,896 |
| IRAs and Keogh plan accounts | $43,782 |
| Brokered deposits | $80,535 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,249,790 |
| Cash & Balances due from depository institutions | $60,155 |
| Interest-bearing balances | $49,778 |
| Total securities | $353,066 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $774,249 |
| Loan and leases loss allowance | $7,277 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $28,295 |
| Other real estate owned | $1,841 |
| Goodwill and other intangibles | $759 |
| All other assets | $31,425 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,249,790 |
| Total Liabilities | $1,132,775 |
| Total deposits | $1,086,063 |
| Interest-bearing deposits | $1,036,893 |
| Deposits held in domestic offices | $1,086,063 |
| % insured (estimated) | $77 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $44,000 |
| Subordinated debt | $0 |
| All other liabilities | $2,712 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $774,249 |
| Loan and leases loss allowance | $7,277 |
| Total loans and leases (domestic) | $781,526 |
| All real estate loans | $684,305 |
| Real estate loans in domestic offices | $684,305 |
| Construction and development loans | $60,349 |
| Residential 1-4 family construction | $12,500 |
| Other construction, all land development and other land | $47,849 |
| Loans secured by nonfarm nonresidential properties | $338,219 |
| Nonfarm nonresidential secured by owner-occupied properties | $136,463 |
| Commercial real estate & other non-farm, non-residential | $201,756 |
| Multifamily residential real estate | $35,314 |
| 1-4 family residential loans | $187,714 |
| Farmland loans | $62,709 |
| Loans held in foreign offices | $0 |
| Farm loans | $16,799 |
| Commercial and industrial loans | $57,410 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $18,485 |
| Credit card loans | $0 |
| Related Plans | $165 |
| Consumer Auto Loans | $2,167 |
| Other loans to individuals | $16,153 |
| All other loans & leases | $4,527 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $265 |
| 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 | $7,592 |
| Non 1-4 family restructured loans & leases | $7,275 |
| Total loans and leases (foreign) | $0 |
Colony Bank had $774,249,000 of loans outstanding in 2018. $684,305,000 of loans were in real estate loans. $60,349,000 of loans were in development loans. $35,314,000 of loans were in multifamily mortgage loans. $187,714,000 of loans were in 1-4 family mortgage loans. $16,799,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,167,000 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 | 755 | $132,945 | $176,086 |
| Nonfarm, nonresidential loans - <$100k | 271 | $10,710 | $39,520 |
| Nonfarm, nonresidential loans - $100-250k | 233 | $29,158 | $125,142 |
| Nonfarm, nonresidential loans - $250k-1MM | 251 | $93,077 | $370,825 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,242 | $45,243 | $36,428 |
| Commercial & Industrial, US addressed loans - <$100k | 1,101 | $19,023 | $17,278 |
| Commercial & Industrial, US addressed loans - $100-250k | 79 | $7,243 | $91,684 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 62 | $18,977 | $306,081 |
| Farmland loans - <$1MM | 437 | $39,871 | $91,238 |
| Farmland loans - <$100k | 258 | $9,290 | $36,008 |
| Farmland loans - $100-250k | 125 | $16,477 | $131,816 |
| Farmland loans - $250k-1MM | 54 | $14,104 | $261,185 |
| Agriculture operations loans - <$1MM | 327 | $13,424 | $41,052 |
| Agriculture operations loans - <$100k | 280 | $6,640 | $23,714 |
| Agriculture operations loans - $100-250k | 36 | $4,446 | $123,500 |
| Agriculture operations loans - $250k-1MM | 11 | $2,338 | $212,545 |