Liberty Bank Mortgage Rates, Fees & Info

Geraldine, AL

LEI: 254900GYV99GSRS94462

Tax ID: 63-0595512

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

Review & Overview

Liberty Bank is a smaller bank specializing in Refi and Home Purchase loans. Liberty Bank has a high proportion of conventional loans. Their top markets by origination volume include: Albertville, Fort Payne, Birmingham, Gadsden, and Crestview among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Liberty Bank has an above average approval rate when compared to the average across all lenders. They have an above 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

Originations

115

Origination Dollar Volume (All Markets)

$9,695,000

Employee count

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
Albertville, AL (FHA\|USDA\|VA)	27	$4,195,000	$155,370	$0	0.00%
Fort Payne, AL (FHA\|USDA\|VA)	66	$2,720,000	$41,212	$0	0.00%
BIRMINGHAM-HOOVER, AL (FHA\|USDA\|VA)	6	$1,360,000	$226,667	$0	0.00%
GADSDEN, AL (FHA\|USDA\|VA)	8	$450,000	$56,250	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$315,000	$315,000	$0	0.00%
HUNTSVILLE, AL (FHA\|USDA\|VA)	1	$305,000	$305,000	$0	0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	0.00%
Outside of Metro Areas	4	$130,000	$32,500	$0	0.00%
PANAMA CITY, FL (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	0.00%

Liberty Bank's top markets include Albertville, Fort Payne, Birmingham, Gadsden, and Crestview among others.

Their top states include:

Alabama (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	115	$9,695,000	$84,304	$0	0.00%

For 2019, Liberty Bank's most frequently originated type of loan was Conventional, with 115 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	56	$4,870,000	$86,964	$0	0.00%
Home Purchase	40	$3,960,000	$99,000	$0	0.00%
Other	12	$440,000	$36,667	$0	0.00%
Home Improvement	6	$280,000	$46,667	$0	0.00%
Cash Out Refi	1	$145,000	$145,000	$0	0.00%

For 2019, Liberty Bank's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 40 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	115	$9,695,000	$84,304	$0	0.00%

For 2019, Liberty Bank's most frequently cited loan duration was Other, with 115 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	93	$3,495,000	$37,581	$0	0.00%
$200k-400k	10	$2,860,000	$286,000	$0	0.00%
$100k-200k	9	$1,295,000	$143,889	$0	0.00%
$600k-1MM	2	$1,640,000	$820,000	$0	0.00%
$400k-600k	1	$405,000	$405,000	$0	0.00%

2019 saw Liberty Bank place emphasis on $100,000 or less loans with 93 originations, totaling $3,495,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	57	$2,465,000	$43,246	$0	0.00%
$50k-75k	16	$740,000	$46,250	$0	0.00%
$75k-100k	9	$685,000	$76,111	$0	0.00%
$100k-150k	7	$1,725,000	$246,429	$0	0.00%
$150k-250k	5	$455,000	$91,000	$0	0.00%
$250k+	4	$590,000	$147,500	$0	0.00%

Liberty Bank lent most frequently to those with incomes in the $50k or less range, with 57 originations. The second most popular income band? $50k-75k, with 16 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	115	$9,695,000	$84,304	$0	0.00%

Liberty Bank lent most frequently to those with DTI ratios of Exempt%, with 115 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	84	$5,900,000	$70,238	$0	0.00%
Not applicable	14	$2,850,000	$203,571	$0	0.00%
American Indian	13	$515,000	$39,615	$0	0.00%
Filipino	1	$305,000	$305,000	$0	0.00%
Chinese	1	$75,000	$75,000	$0	0.00%
Asian	1	$35,000	$35,000	$0	0.00%
Guamanian	1	$15,000	$15,000	$0	0.00%

Approval Rates

Total approvals of all applications
95.28%

Liberty Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
94.78%

Liberty Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	115	$9,695,000	$84,304

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	2	$1,080,000	$540,000
Single Family (1-4 Units):Manufactured	29	$1,075,000	$37,069
Single Family (1-4 Units):Site-Built	84	$7,540,000	$89,762

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
Liberty Finance Co., Inc.	Conventional home mortgage	Struggling to pay mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Liberty Bank	15053 Alabama Highway 68 Crossville, AL 35962	Full Service B&M	$8,996
Liberty Bank	1660 Sardis Road Sardis City, AL 35956	Full Service B&M	$19,497
Liberty Bank	305 North Broad Street Albertville, AL 35950	Full Service B&M	$17,776
Liberty Bank	40956 Alabama Highway 75 Geraldine, AL 35974	Full Service B&M	$41,144
Liberty Bank	5350 Alabama Highway 68 Collinsville, AL 35961	Full Service B&M	$28,141
Liberty Bank	87615 Us Hwy 278 East Altoona, AL 35952	Full Service B&M	$11,875

For 2019, Liberty Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$6,700
Net interest income	$5,451
Total noninterest income	$1,018
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$664
Trading account gains and fees	$0
Additional Noninterest Income	$354
Pre-tax net operating income	$1,311
Securities gains (or losses, -)	$0
Income before extraordinary items	$1,180
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$1,180
Minority interest net income	$0
Net income	$1,180
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$1,180

Liberty Bank's gross interest income from loans was $6,700,000.
Liberty Bank's net interest income from loans was $5,451,000.
Liberty Bank's fee based income from loans was $664,000.
Liberty Bank's net income from loans was $1,180,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,249
Provision for credit losses	$218
Total noninterest expense	$4,940
Salaries and employee benefits	$2,917
Premises and equipment expense	$855
Additional noninterest expense	$1,168
Applicable income taxes	$131
Net charge-offs	$155
Cash dividends	$523

Liberty Bank's interest expense for loans was $1,249,000.
Liberty Bank's payroll and benefits expense were $2,917,000.
Liberty Bank's property, plant and equipment expenses $855,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	0.0%
Construction & Land Development loans	2.0%
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	5.0%
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	$130,923
Deposits held in domestic offices	$130,923
Deposits by Individuals, partnerships, and corporations	$121,002
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$9,921
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	$39,579
Demand deposits	$29,222
Nontransaction accounts	$91,344
Money market deposit accounts (MMDAs)	$8,609
Other savings deposits (excluding MMDAs)	$24,636
Total time deposits	$58,099
Total time and savings deposits	$101,701
Noninterest-bearing deposits	$29,222
Interest-bearing deposits	$101,702
Retail deposits	$113,347
IRAs and Keogh plan accounts	$6,945
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$148,466
Cash & Balances due from depository institutions	$7,892
Interest-bearing balances	$1,064
Total securities	$42,357
Federal funds sold & reverse repurchase	$6,750
Net loans and leases	$82,616
Loan and leases loss allowance	$889
Trading account assets	$0
Bank premises and fixed assets	$7,036
Other real estate owned	$175
Goodwill and other intangibles	$0
All other assets	$1,640

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$148,466
Total Liabilities	$131,210
Total deposits	$130,923
Interest-bearing deposits	$101,702
Deposits held in domestic offices	$130,923
% insured (estimated)	$88
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$287

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$82,616
Loan and leases loss allowance	$889
Total loans and leases (domestic)	$83,505
All real estate loans	$60,235
Real estate loans in domestic offices	$60,235
Construction and development loans	$6,806
Residential 1-4 family construction	$2,579
Other construction, all land development and other land	$4,227
Loans secured by nonfarm nonresidential properties	$21,753
Nonfarm nonresidential secured by owner-occupied properties	$13,163
Commercial real estate & other non-farm, non-residential	$8,590
Multifamily residential real estate	$1,085
1-4 family residential loans	$27,312
Farmland loans	$3,279
Loans held in foreign offices	$0
Farm loans	$3,043
Commercial and industrial loans	$6,966
To non-U.S. addressees	$0
Loans to individuals	$9,922
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$2,733
Other loans to individuals	$7,189
All other loans & leases	$3,339
Loans to foreign governments and official institutions	$0
Other loans	$227
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$7,058
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

Liberty Bank had $82,616,000 of loans outstanding in 2019. $60,235,000 of loans were in real estate loans. $6,806,000 of loans were in development loans. $1,085,000 of loans were in multifamily mortgage loans. $27,312,000 of loans were in 1-4 family mortgage loans. $3,043,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,733,000 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	13	$1,941	$149,308
Nonfarm, nonresidential loans - <$100k	4	$115	$28,750
Nonfarm, nonresidential loans - $100-250k	5	$757	$151,400
Nonfarm, nonresidential loans - $250k-1MM	4	$1,069	$267,250
Commercial & Industrial, US addressed loans - <$1MM	160	$6,745	$42,156
Commercial & Industrial, US addressed loans - <$100k	141	$3,217	$22,816
Commercial & Industrial, US addressed loans - $100-250k	15	$1,668	$111,200
Commercial & Industrial, US addressed loans - $250k-1MM	4	$1,860	$465,000
Farmland loans - <$1MM	9	$1,173	$130,333
Farmland loans - <$100k	4	$190	$47,500
Farmland loans - $100-250k	3	$494	$164,667
Farmland loans - $250k-1MM	2	$489	$244,500
Agriculture operations loans - <$1MM	117	$1,922	$16,427
Agriculture operations loans - <$100k	114	$1,491	$13,079
Agriculture operations loans - $100-250k	2	$163	$81,500
Agriculture operations loans - $250k-1MM	1	$268	$268,000