Queensborough National Bank & Trust Company Mortgage Rates, Fees & Info

Louisville, GA

LEI: 254900C2QXQ435D8TY78

Tax ID: 58-0330052

5 stars - out of 5 stars, based on 40 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Queensborough National Bank & Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Queensborough National Bank & Trust Company has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Augusta, Savannah, Atlanta, Columbia, and Statesboro among others. Queensborough National Bank & Trust Company has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Queensborough National Bank & Trust Company is typically an average fee lendor.


Originations

1,612

Origination Dollar Volume (All Markets)

$381,250,000

Employee count

335 Show all (15) awards

Relative Rate

Queensborough National Bank & Trust Company's average 30 year fixed rate mortgage of loans were 2.82%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.33%.

Relative Fees

Queensborough National Bank & Trust Company's average total fees for a 30 year fixed rate mortgage are $3,801.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1,368 $326,280,000 $238,509 $3,770 2.86%
Outside of Metro Areas 103 $18,365,000 $178,301 $2,763 3.29%
SAVANNAH, GA (FHA|USDA|VA) 64 $17,130,000 $267,656 $3,212 3.28%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 18 $5,650,000 $313,889 $2,844 2.84%
COLUMBIA, SC (FHA|USDA|VA) 7 $2,045,000 $292,143 $4,073 2.80%
Statesboro, GA (FHA|USDA|VA) 16 $1,930,000 $120,625 $2,117 3.40%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $1,875,000 $625,000 $3,047 3.17%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $1,755,000 $351,000 $3,023 2.63%
BRUNSWICK, GA (FHA|USDA|VA) 3 $1,205,000 $401,667 $4,690 3.13%
WARNER ROBINS, GA (FHA|USDA|VA) 3 $635,000 $211,667 $3,480 2.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $630,000 $315,000 $2,597 3.13%
FLORENCE, SC (FHA|USDA|VA) 2 $410,000 $205,000 $2,330 2.56%
HINESVILLE, GA (FHA|USDA|VA) 2 $380,000 $190,000 $4,500 2.44%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $365,000 $365,000 $7,490 2.25%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 2 $350,000 $175,000 $0 3.06%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $335,000 $335,000 $2,042 2.25%
Georgetown, SC (FHA|USDA|VA) 1 $335,000 $335,000 $4,527 3.00%
Milledgeville, GA (FHA|USDA|VA) 1 $305,000 $305,000 $2,381 2.50%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 3 $265,000 $88,333 $0 3.38%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $3,102 2.75%
KNOXVILLE, TN (FHA|USDA|VA) 1 $185,000 $185,000 $2,394 2.50%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $185,000 $185,000 $0 2.50%
Crossville, TN (FHA|USDA|VA) 1 $125,000 $125,000 $0 2.88%
Palatka, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.50%
Americus, GA (FHA|USDA|VA) 1 $105,000 $105,000 $1,773 2.50%
Dublin, GA (FHA|USDA|VA) 1 $35,000 $35,000 $550 5.00%

Queensborough National Bank & Trust Company's top markets include Augusta, Savannah, Atlanta, Columbia, and Statesboro among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,269 $285,465,000 $224,953 $2,967 3.02%
VA 241 $75,045,000 $311,390 $5,980 2.49%
FHA 91 $18,715,000 $205,659 $5,295 2.52%
USDA 11 $2,025,000 $184,091 $3,180 2.65%

For the 2021 period, Queensborough National Bank & Trust Company's most frequently originated loan type of loans were Conventional, with 1,269 originations. Their 2nd most popular type is VA, with 241 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,003 $250,805,000 $250,055 $3,948 2.99%
Refi 369 $78,505,000 $212,751 $2,962 2.70%
Cash Out Refi 226 $49,980,000 $221,150 $3,539 2.75%
Home Improvement 13 $1,825,000 $140,385 $2,691 5.11%
Other 1 $135,000 $135,000 $2,746 5.25%

For the 2021, Queensborough National Bank & Trust Company's most frequently cited loan purpose of loans were Home Purchase, with 1,003 originations. The 2nd most popular reason of loans were Refi, with 369 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,229 $302,025,000 $245,749 $3,801 2.82%
15 Year 202 $39,460,000 $195,347 $2,956 2.35%
Other 63 $9,865,000 $156,587 $2,058 5.19%
20 Year 47 $10,745,000 $228,617 $3,243 2.75%
5 Year 29 $9,585,000 $330,517 $0 4.63%
10 Year 22 $4,690,000 $213,182 $3,283 2.70%
1 Year 20 $4,880,000 $244,000 $3,653 4.65%

For the 2021, Queensborough National Bank & Trust Company's most frequently cited loan length of loans were 30 Year, with 1,229 originations. The 2nd most popular length of loans were 15 Year, with 202 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 995 $241,805,000 $243,020
$1k-2k 202 $45,720,000 $226,337
$2k-3k 111 $28,865,000 $260,045
$3k-4k 62 $23,050,000 $371,774
$5k+ 11 $4,925,000 $447,727

$3,801 of loans were Queensborough National Bank & Trust Company's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 995 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 641 $163,245,000 $254,672
<2.5% 571 $132,905,000 $232,758
3-4% 294 $65,970,000 $224,388
4-5% 59 $15,055,000 $255,169
5-6% 35 $3,485,000 $99,571
6-7% 7 $435,000 $62,143
7-8% 3 $105,000 $35,000
Over 8% 2 $50,000 $25,000

During 2021, Queensborough National Bank & Trust Company's average interest rate of loans were 2.82%, while their most frequently originated rate bucket of loans were 2.5-3%, with 641 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 707 $195,385,000 $276,358 $4,043 2.75%
$100k-200k 575 $86,605,000 $150,617 $2,660 2.89%
$100,000 or less 165 $11,405,000 $69,121 $2,056 3.63%
$400k-600k 144 $68,630,000 $476,597 $5,144 2.80%
$600k-1MM 15 $11,515,000 $767,667 $11,834 3.40%
$1MM+ 6 $7,710,000 $1,285,000 $7,051 3.79%

2021 saw Queensborough National Bank & Trust Company place emphasis on $200k-400k loans with 707 originations, totaling $195,385,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 367 $95,055,000 $259,005 $4,095 2.83%
$50k-75k 333 $64,665,000 $194,189 $3,385 2.86%
$75k-100k 282 $61,320,000 $217,447 $3,788 2.79%
$150k-250k 222 $67,930,000 $305,991 $4,158 2.80%
$50k or less 184 $25,900,000 $140,761 $2,713 2.85%
$250k+ 111 $37,765,000 $340,225 $4,015 3.08%

Queensborough National Bank & Trust Company lent most frequently to those with incomes in the $100k-150k range, with 367 originations. The second most popular income band? $50k-75k, with 333 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 423 $95,345,000 $225,402 $3,403 2.87%
30-36% 287 $68,725,000 $239,460 $3,589 2.82%
<20% 237 $54,365,000 $229,388 $3,006 2.68%
41% 52 $11,790,000 $226,731 $4,250 2.79%
38% 51 $12,535,000 $245,784 $3,622 2.74%
43% 50 $11,620,000 $232,400 $3,766 2.76%
40% 44 $10,560,000 $240,000 $4,100 2.93%
45% 44 $11,060,000 $251,364 $4,351 2.79%
36% 44 $11,050,000 $251,136 $3,413 2.89%
39% 39 $11,035,000 $282,949 $5,749 2.90%
42% 37 $8,865,000 $239,595 $3,719 2.86%
44% 34 $7,840,000 $230,588 $3,620 2.89%
37% 33 $8,015,000 $242,879 $3,598 3.08%
47% 32 $7,600,000 $237,500 $6,228 2.77%
48% 30 $8,120,000 $270,667 $5,108 2.68%
49% 29 $6,405,000 $220,862 $4,269 2.79%
46% 27 $7,075,000 $262,037 $4,295 2.64%
50-60% 3 $945,000 $315,000 $7,819 2.79%

Queensborough National Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 423 originations. The next most common DTI ratio? 30-36%, with 287 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,223 $288,095,000 $235,564 $3,554 2.82%
Not provided 161 $36,335,000 $225,683 $3,966 2.90%
Black 111 $26,835,000 $241,757 $4,406 3.02%
Not applicable 60 $16,820,000 $280,333 $3,776 4.71%
Asian 47 $10,655,000 $226,702 $2,969 2.74%
American Indian 4 $880,000 $220,000 $4,341 2.50%
Native Hawaiian 2 $670,000 $335,000 $6,575 2.50%
Other Asian 2 $450,000 $225,000 $2,429 2.44%
Filipino 1 $335,000 $335,000 $8,812 2.63%
Asian Indian 1 $175,000 $175,000 $2,537 2.25%

Approval Rates

Total approvals of all applications
93.76%

Queensborough National Bank & Trust Company has an average approval rate.

Pick Rate

Approvals leading to origination
86.71%

Queensborough National Bank & Trust Company has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,612 $381,250,000 $236,507

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,612 $381,250,000 $236,507

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 70 $10,340,000 $147,714 $2,519 2.84%
40-60% 201 $42,465,000 $211,269 $3,059 2.87%
60-80% 609 $132,805,000 $218,071 $3,063 3.06%
80-100% 676 $176,930,000 $261,731 $3,775 2.77%
Over 100% 44 $16,590,000 $377,045 $12,288 2.65%
Under 20% 12 $2,120,000 $176,667 $1,947 4.88%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Queensborough National Bank & Trust Company 107 Us Highway 1-Bypass North Louisville, GA 30434 Limited, Drive-thru $0
Queensborough National Bank & Trust Company 201 South Main Street Statesboro, GA 30458 Full Service B&M $36,900
Queensborough National Bank & Trust Company 202 N. Harris Street Sandersville, GA 31082 Full Service B&M $72,208
Queensborough National Bank & Trust Company 213 Highway 80 West Garden City, GA 31408 Full Service B&M $0
Queensborough National Bank & Trust Company 216 West Hwy 80 Savannah, GA 31408 Full Service B&M $48,551
Queensborough National Bank & Trust Company 24-28 North Broad Street Metter, GA 30439 Full Service B&M $31,073
Queensborough National Bank & Trust Company 2550 Tobacco Road Hephzibah, GA 30815 Full Service B&M $54,006
Queensborough National Bank & Trust Company 301 Mims Road Sylvania, GA 30467 Full Service B&M $30,326
Queensborough National Bank & Trust Company 311 East Winthrope Avenue Millen, GA 30442 Full Service B&M $58,124
Queensborough National Bank & Trust Company 3617 Walton Way Extension Augusta, GA 30909 Full Service B&M $295,133
Queensborough National Bank & Trust Company 421 Fury's Ferry Road Martinez, GA 30907 Full Service B&M $86,170
Queensborough National Bank & Trust Company 4226 Columbia Road Martinez, GA 30907 Full Service B&M $158,908
Queensborough National Bank & Trust Company 4321 Washington Road Evans, GA 30809 Full Service B&M $105,488
Queensborough National Bank & Trust Company 5049 Wrightsboro Road Grovetown, GA 30813 Full Service B&M $70,445
Queensborough National Bank & Trust Company 549 West Hill Street Thomson, GA 30824 Full Service B&M $80,553
Queensborough National Bank & Trust Company 597 S. Columbia Avenue Rincon, GA 31326 Full Service B&M $35,820
Queensborough National Bank & Trust Company 692 South Main Street Swainsboro, GA 30401 Full Service B&M $64,527
Queensborough National Bank & Trust Company 711 North Main Street Wrens, GA 30833 Full Service B&M $42,476
Queensborough National Bank & Trust Company 721 Liberty Street Waynesboro, GA 30830 Full Service B&M $113,371
Queensborough National Bank & Trust Company 7393 Hodgson Memorial Drive Savannah, GA 31406 Full Service B&M $34,399
Queensborough National Bank & Trust Company Jones And North Railroad Streets Midville, GA 30441 Full Service B&M $9,293
Queensborough National Bank & Trust Company 113 E Broad St Louisville, GA 30434 Full Service B&M $117,100
Queensborough National Bank & Trust Company 116 North Main Street Wadley, GA 30477 Full Service B&M $48,220
Queensborough National Bank & Trust Company 1450 Greene Street, Suite 150 Augusta, GA 30901 Full Service B&M $66,421

For 2021, Queensborough National Bank & Trust Company had 24 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $57,522
Net interest income $54,487
Total noninterest income $22,603
Gross Fiduciary activities income $356
Service charges on deposit accounts $7,841
Trading account gains and fees $0
Additional Noninterest Income $14,406
Pre-tax net operating income $26,487
Securities gains (or losses, -) $98
Income before extraordinary items $20,438
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $20,438
Minority interest net income $0
Net income $20,438
Sale, conversion, retirement of capital stock, net $0
Net operating income $20,360

Queensborough National Bank & Trust Company's gross interest income from loans was $57,522,000.
Queensborough National Bank & Trust Company's net interest income from loans was $54,487,000.
Queensborough National Bank & Trust Company's fee based income from loans was $7,841,000.
Queensborough National Bank & Trust Company's net income from loans was $20,438,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,035
Provision for credit losses $-1,000
Total noninterest expense $51,603
Salaries and employee benefits $32,686
Premises and equipment expense $3,512
Additional noninterest expense $15,405
Applicable income taxes $6,147
Net charge-offs $95
Cash dividends $2,200

Queensborough National Bank & Trust Company's interest expense for loans was $3,035,000.
Queensborough National Bank & Trust Company's payroll and benefits expense were $32,686,000.
Queensborough National Bank & Trust Company's property, plant and equipment expenses $3,512,000.

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 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 $1,909,837
Deposits held in domestic offices $1,909,837
Deposits by Individuals, partnerships, and corporations $1,594,808
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $314,781
Deposits by Commercial banks and other depository institutions in U.S. $248
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $189,543
Demand deposits $150,287
Nontransaction accounts $1,720,294
Money market deposit accounts (MMDAs) $1,413,492
Other savings deposits (excluding MMDAs) $91,167
Total time deposits $215,635
Total time and savings deposits $1,759,550
Noninterest-bearing deposits $857,345
Interest-bearing deposits $1,052,492
Retail deposits $1,868,675
IRAs and Keogh plan accounts $39,701
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,069,851
Cash & Balances due from depository institutions $371,266
Interest-bearing balances $323,893
Total securities $653,313
Federal funds sold & reverse repurchase $0
Net loans and leases $972,397
Loan and leases loss allowance $13,575
Trading account assets $0
Bank premises and fixed assets $35,583
Other real estate owned $706
Goodwill and other intangibles $2,953
All other assets $33,633

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,069,851
Total Liabilities $1,917,417
Total deposits $1,909,837
Interest-bearing deposits $1,052,492
Deposits held in domestic offices $1,909,837
% insured (estimated) $58
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $7,580

Issued Loan Types

Type Value (in 000's)
Net loans and leases $972,397
Loan and leases loss allowance $13,575
Total loans and leases (domestic) $985,972
All real estate loans $805,790
Real estate loans in domestic offices $805,790
Construction and development loans $133,875
Residential 1-4 family construction $30,942
Other construction, all land development and other land $102,933
Loans secured by nonfarm nonresidential properties $342,631
Nonfarm nonresidential secured by owner-occupied properties $259,314
Commercial real estate & other non-farm, non-residential $83,317
Multifamily residential real estate $8,507
1-4 family residential loans $177,900
Farmland loans $142,877
Loans held in foreign offices $0
Farm loans $27,565
Commercial and industrial loans $130,836
To non-U.S. addressees $0
Loans to individuals $15,477
Credit card loans $0
Related Plans $149
Consumer Auto Loans $6,941
Other loans to individuals $8,387
All other loans & leases $6,304
Loans to foreign governments and official institutions $0
Other loans $2,580
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 $267
Non 1-4 family restructured loans & leases $267
Total loans and leases (foreign) $0

Queensborough National Bank & Trust Company had $972,397,000 of loans outstanding in 2021. $805,790,000 of loans were in real estate loans. $133,875,000 of loans were in development loans. $8,507,000 of loans were in multifamily mortgage loans. $177,900,000 of loans were in 1-4 family mortgage loans. $27,565,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,941,000 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 674 $147,586 $218,970
Nonfarm, nonresidential loans - <$100k 124 $4,081 $32,911
Nonfarm, nonresidential loans - $100-250k 239 $27,119 $113,469
Nonfarm, nonresidential loans - $250k-1MM 311 $116,386 $374,232
Commercial & Industrial, US addressed loans - <$1MM 1,738 $101,747 $58,543
Commercial & Industrial, US addressed loans - <$100k 1,349 $31,604 $23,428
Commercial & Industrial, US addressed loans - $100-250k 246 $27,096 $110,146
Commercial & Industrial, US addressed loans - $250k-1MM 143 $43,047 $301,028
Farmland loans - <$1MM 366 $38,379 $104,861
Farmland loans - <$100k 177 $6,312 $35,661
Farmland loans - $100-250k 112 $12,891 $115,098
Farmland loans - $250k-1MM 77 $19,176 $249,039
Agriculture operations loans - <$1MM 242 $14,121 $58,351
Agriculture operations loans - <$100k 161 $3,561 $22,118
Agriculture operations loans - $100-250k 51 $5,433 $106,529
Agriculture operations loans - $250k-1MM 30 $5,127 $170,900