Morris Bank Mortgage Rates, Fees & Info
Dublin, GA
LEI: 254900VA7WQ1PZGYI558
Tax ID: 58-0806683
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Mortgage Data
Bank Data
Overview
Morris Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
Morris Bank has a high proportion of conventional loans.
Their top markets include Macon, Warner Robins, Statesboro, Savannah, and Dublin among others. Morris Bank has
an average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Originations
437
Origination Dollar Volume (All Markets)
$127,505,000
Employee count
191
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
MACON-BIBB COUNTY, GA (FHA|USDA|VA)
|
95
|
$24,585,000 |
$258,789 |
$0 |
0.00% |
|
WARNER ROBINS, GA (FHA|USDA|VA)
|
72
|
$22,470,000 |
$312,083 |
$0 |
0.00% |
|
Outside of Metro Areas
|
48 |
$18,340,000 |
$382,083 |
$0 |
0.00% |
|
Statesboro, GA (FHA|USDA|VA)
|
64
|
$13,830,000 |
$216,094 |
$0 |
0.00% |
|
SAVANNAH, GA (FHA|USDA|VA)
|
14
|
$10,790,000 |
$770,714 |
$0 |
0.00% |
|
Dublin, GA (FHA|USDA|VA)
|
73
|
$7,625,000 |
$104,452 |
$0 |
0.00% |
|
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)
|
4
|
$4,930,000 |
$1,232,500 |
$0 |
0.00% |
|
Milledgeville, GA (FHA|USDA|VA)
|
21
|
$4,745,000 |
$225,952 |
$0 |
0.00% |
|
BRUNSWICK, GA (FHA|USDA|VA)
|
7
|
$3,115,000 |
$445,000 |
$0 |
0.00% |
|
Cullowhee, NC (FHA|USDA|VA)
|
1
|
$3,115,000 |
$3,115,000 |
$0 |
0.00% |
|
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA)
|
10
|
$3,030,000 |
$303,000 |
$0 |
0.00% |
|
GAINESVILLE, GA (FHA|USDA|VA)
|
2
|
$2,600,000 |
$1,300,000 |
$0 |
0.00% |
|
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA)
|
9
|
$2,235,000 |
$248,333 |
$0 |
0.00% |
|
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)
|
1
|
$1,305,000 |
$1,305,000 |
$0 |
0.00% |
|
ASHEVILLE, NC (FHA|USDA|VA)
|
2
|
$890,000 |
$445,000 |
$0 |
0.00% |
|
JACKSONVILLE, FL (FHA|USDA|VA)
|
1
|
$695,000 |
$695,000 |
$0 |
0.00% |
|
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)
|
1
|
$655,000 |
$655,000 |
$0 |
0.00% |
|
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA)
|
1
|
$545,000 |
$545,000 |
$0 |
0.00% |
|
ALBANY, GA (FHA|USDA|VA)
|
4
|
$470,000 |
$117,500 |
$0 |
0.00% |
|
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)
|
1
|
$405,000 |
$405,000 |
$0 |
0.00% |
|
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA)
|
1
|
$375,000 |
$375,000 |
$0 |
0.00% |
|
Vidalia, GA (FHA|USDA|VA)
|
2
|
$310,000 |
$155,000 |
$0 |
0.00% |
|
PANAMA CITY, FL (FHA|USDA|VA)
|
1
|
$255,000 |
$255,000 |
$0 |
0.00% |
|
Thomaston, GA (FHA|USDA|VA)
|
1
|
$105,000 |
$105,000 |
$0 |
0.00% |
|
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$0 |
0.00% |
Morris Bank's top markets include Macon, Warner Robins, Statesboro, Savannah, and Dublin among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
437 |
$127,505,000 |
$291,773 |
$0 |
0.00% |
For the 2021 period, Morris Bank's most frequently
originated loan type
of loans were Conventional, with 437 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
215 |
$62,745,000 |
$291,837 |
$0 |
0.00% |
| Refi |
202 |
$61,780,000 |
$305,842 |
$0 |
0.00% |
| Home Improvement |
14 |
$1,480,000 |
$105,714 |
$0 |
0.00% |
| Other |
6 |
$1,500,000 |
$250,000 |
$0 |
0.00% |
For the 2021, Morris Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 215
originations.
The 2nd most popular reason of loans were Refi,
with 202 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
437 |
$127,505,000 |
$291,773 |
$0 |
0.00% |
For the 2021, Morris Bank's most frequently cited loan
length
of loans were Other, with 437 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100,000 or less |
197 |
$9,775,000 |
$49,619 |
$0 |
0.00% |
| $100k-200k |
108 |
$15,480,000 |
$143,333 |
$0 |
0.00% |
| $200k-400k |
68 |
$18,960,000 |
$278,824 |
$0 |
0.00% |
| $400k-600k |
27 |
$13,285,000 |
$492,037 |
$0 |
0.00% |
| $1MM+ |
20 |
$57,180,000 |
$2,859,000 |
$0 |
0.00% |
| $600k-1MM |
17 |
$12,825,000 |
$754,412 |
$0 |
0.00% |
2021 saw Morris Bank place emphasis on
$100,000 or less loans
with 197 originations, totaling
$9,775,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $50k or less |
51 |
$3,675,000 |
$72,059 |
$0 |
0.00% |
| $75k-100k |
45 |
$5,245,000 |
$116,556 |
$0 |
0.00% |
| $50k-75k |
44 |
$3,450,000 |
$78,409 |
$0 |
0.00% |
| $250k+ |
40 |
$16,080,000 |
$402,000 |
$0 |
0.00% |
| $100k-150k |
37 |
$4,225,000 |
$114,189 |
$0 |
0.00% |
| $150k-250k |
37 |
$7,315,000 |
$197,703 |
$0 |
0.00% |
Morris Bank lent most frequently to those with incomes in the
$50k or less range, with
51 originations.
The second most popular income band? $75k-100k,
with 45 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
437 |
$127,505,000 |
$291,773 |
$0 |
0.00% |
Morris Bank lent most frequently to those with DTI ratios
of Exempt%, with
437 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Not applicable |
182 |
$87,330,000 |
$479,835 |
$0 |
0.00% |
| White |
192 |
$32,250,000 |
$167,969 |
$0 |
0.00% |
| Black |
34 |
$3,250,000 |
$95,588 |
$0 |
0.00% |
| Not provided |
24 |
$2,840,000 |
$118,333 |
$0 |
0.00% |
| Asian |
5 |
$1,835,000 |
$367,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
84.84%
Morris Bank has a below average approval rate.
Pick Rate
Approvals leading to origination
80.12%
Morris Bank has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
437 |
$127,505,000 |
$291,773 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
437 |
$127,505,000 |
$291,773 |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Morris Bank |
1041 Georgia Highway 96 Warner Robins, GA 31088 |
Full Service B&M
|
$22,903 |
| Morris Bank |
29 North Parker Avenue Brooklet, GA 30415 |
Full Service B&M
|
$45,372 |
| Morris Bank |
301 Bellevue Avenue Dublin, GA 31021 |
Full Service B&M
|
$327,792 |
| Morris Bank |
464 S. Houston Lake Road Warner Robins, GA 31088 |
Full Service B&M
|
$128,339 |
| Morris Bank |
777 Brannen Street Statesboro, GA 30458 |
Full Service B&M
|
$25,897 |
| Morris Bank |
809 Carroll Street Perry, GA 31096 |
Full Service B&M
|
$33,275 |
| Morris Bank |
110 Hwy 18 Connector Gray, GA 31032 |
Full Service B&M
|
$197,319 |
| Morris Bank |
2003 Veterans Blvd Dublin, GA 31021 |
Full Service B&M
|
$175,955 |
| Morris Bank |
201 North Main Street Statesboro, GA 30458 |
Full Service B&M
|
$157,697 |
| Morris Bank |
280 Milledgeville Highway Gordon, GA 31031 |
Full Service B&M
|
$47,334 |
For 2021, Morris Bank had 10 branches.
Yearly Performance Overview
Bank Income
Morris Bank's gross interest income from loans was $58,424,000.
Morris Bank's net interest income from loans was $56,085,000.
Morris Bank's fee based income from loans was $1,984,000.
Morris Bank's net income from loans was $26,174,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$2,339 |
| Provision for credit losses |
$2,000 |
| Total noninterest expense |
$31,318 |
| Salaries and employee benefits |
$18,242 |
| Premises and equipment expense |
$2,762 |
| Additional noninterest expense |
$10,314 |
| Applicable income taxes |
$2,264 |
| Net charge-offs |
$773 |
| Cash dividends |
$6,000 |
Morris Bank's interest expense for loans was $2,339,000.
Morris Bank's payroll and benefits expense were $18,242,000.
Morris Bank's property, plant and equipment expenses $2,762,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$1,230,119 |
| Deposits held in domestic offices |
$1,230,119 |
| Deposits by Individuals, partnerships, and corporations |
$1,005,961 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$224,158 |
| 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 |
$615,453 |
| Demand deposits |
$343,724 |
| Nontransaction accounts |
$614,666 |
| Money market deposit accounts (MMDAs) |
$373,941 |
| Other savings deposits (excluding MMDAs) |
$62,198 |
| Total time deposits |
$178,527 |
| Total time and savings deposits |
$886,395 |
| Noninterest-bearing deposits |
$343,725 |
| Interest-bearing deposits |
$886,394 |
| Retail deposits |
$1,184,091 |
| IRAs and Keogh plan accounts |
$27,470 |
| Brokered deposits |
$2,012 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$1,406,649 |
| Cash & Balances due from depository institutions |
$160,134 |
| Interest-bearing balances |
$154,998 |
| Total securities |
$256,102 |
| Federal funds sold & reverse repurchase |
$14,278 |
| Net loans and leases |
$913,955 |
| Loan and leases loss allowance |
$12,008 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$16,178 |
| Other real estate owned |
$5,306 |
| Goodwill and other intangibles |
$11,342 |
| All other assets |
$29,354 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$1,406,649 |
| Total Liabilities |
$1,239,983 |
| Total deposits |
$1,230,119 |
| Interest-bearing deposits |
$886,394 |
| Deposits held in domestic offices |
$1,230,119 |
| % insured (estimated) |
$58 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$0 |
| Subordinated debt |
$0 |
| All other liabilities |
$9,864 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$913,955 |
| Loan and leases loss allowance |
$12,008 |
| Total loans and leases (domestic) |
$925,963 |
| All real estate loans |
$778,488 |
| Real estate loans in domestic offices |
$778,488 |
| Construction and development loans |
$163,868 |
| Residential 1-4 family construction |
$32,059 |
| Other construction, all land development and other land |
$131,809 |
| Loans secured by nonfarm nonresidential properties |
$343,958 |
| Nonfarm nonresidential secured by owner-occupied properties |
$131,917 |
| Commercial real estate & other non-farm, non-residential |
$212,041 |
| Multifamily residential real estate |
$32,115 |
| 1-4 family residential loans |
$200,228 |
| Farmland loans |
$38,319 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$12,111 |
| Commercial and industrial loans |
$111,490 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$23,676 |
| Credit card loans |
$0 |
| Related Plans |
$285 |
| Consumer Auto Loans |
$8,141 |
| Other loans to individuals |
$15,250 |
| All other loans & leases |
$2,486 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$585 |
| 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 |
$5,212 |
| Non 1-4 family restructured loans & leases |
$4,807 |
| Total loans and leases (foreign) |
$0 |
Morris Bank had $913,955,000 of loans outstanding in 2021. $778,488,000 of loans were in real estate loans.
$163,868,000 of loans were in development loans. $32,115,000 of loans were in multifamily mortgage loans.
$200,228,000 of loans were in 1-4 family mortgage loans. $12,111,000 of loans were in farm loans. $0
of loans were in credit card loans. $8,141,000 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 |
564 |
$119,270 |
$211,472 |
| Nonfarm, nonresidential loans - <$100k |
169 |
$7,202 |
$42,615 |
| Nonfarm, nonresidential loans - $100-250k |
202 |
$27,342 |
$135,356 |
| Nonfarm, nonresidential loans - $250k-1MM |
193 |
$84,726 |
$438,995 |
| Commercial & Industrial, US addressed loans - <$1MM |
1,433 |
$74,294 |
$51,845 |
| Commercial & Industrial, US addressed loans - <$100k |
1,193 |
$29,477 |
$24,708 |
| Commercial & Industrial, US addressed loans - $100-250k |
140 |
$14,775 |
$105,536 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
100 |
$30,042 |
$300,420 |
| Farmland loans - <$1MM |
104 |
$12,742 |
$122,519 |
| Farmland loans - <$100k |
45 |
$1,493 |
$33,178 |
| Farmland loans - $100-250k |
33 |
$4,338 |
$131,455 |
| Farmland loans - $250k-1MM |
26 |
$6,911 |
$265,808 |
| Agriculture operations loans - <$1MM |
71 |
$3,768 |
$53,070 |
| Agriculture operations loans - <$100k |
55 |
$1,287 |
$23,400 |
| Agriculture operations loans - $100-250k |
9 |
$680 |
$75,556 |
| Agriculture operations loans - $250k-1MM |
7 |
$1,801 |
$257,286 |
