Morris Bank Mortgage Rates, Fees & Info

Dublin, GA

LEI: 254900VA7WQ1PZGYI558

Tax ID: 58-0806683

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

Review & 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 by origination volume include: Statesboro, Macon, Dublin, Warner Robins, and Milledgeville among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Morris Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

371

Origination Dollar Volume (All Markets)

$62,325,000

Employee count

185

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
Statesboro, GA (FHA\|USDA\|VA)	66	$13,710,000	$207,727	$0	0.00%
MACON-BIBB COUNTY, GA (FHA\|USDA\|VA)	82	$12,920,000	$157,561	$0	0.00%
Dublin, GA (FHA\|USDA\|VA)	97	$9,655,000	$99,536	$0	0.00%
WARNER ROBINS, GA (FHA\|USDA\|VA)	61	$9,635,000	$157,951	$0	0.00%
Outside of Metro Areas	26	$4,810,000	$185,000	$0	0.00%
Milledgeville, GA (FHA\|USDA\|VA)	13	$2,205,000	$169,615	$0	0.00%
SAVANNAH, GA (FHA\|USDA\|VA)	6	$1,520,000	$253,333	$0	0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	4	$1,500,000	$375,000	$0	0.00%
BRUNSWICK, GA (FHA\|USDA\|VA)	3	$1,435,000	$478,333	$0	0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	3	$1,295,000	$431,667	$0	0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	2	$1,030,000	$515,000	$0	0.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA\|USDA\|VA)	1	$885,000	$885,000	$0	0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$655,000	$655,000	$0	0.00%
Vidalia, GA (FHA\|USDA\|VA)	2	$540,000	$270,000	$0	0.00%
PANAMA CITY, FL (FHA\|USDA\|VA)	2	$300,000	$150,000	$0	0.00%
ALBANY, GA (FHA\|USDA\|VA)	2	$230,000	$115,000	$0	0.00%

Morris Bank's top markets include Statesboro, Macon, Dublin, Warner Robins, and Milledgeville among others.

Their top states include:

Georgia (FHA|USDA|VA)

Florida (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	371	$62,325,000	$167,992	$0	0.00%

For 2020, Morris Bank's most frequently originated type of loan was Conventional, with 371 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	180	$27,280,000	$151,556	$0	0.00%
Refi	170	$32,240,000	$189,647	$0	0.00%
Home Improvement	17	$2,635,000	$155,000	$0	0.00%
Other	4	$170,000	$42,500	$0	0.00%

For 2020, Morris Bank's most frequently cited loan purpose was Home Purchase, with 180 originations. The 2nd most popular reason was Refi, with 170 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	371	$62,325,000	$167,992	$0	0.00%

For 2020, Morris Bank's most frequently cited loan duration was Other, with 371 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	204	$10,070,000	$49,363	$0	0.00%
$100k-200k	91	$12,335,000	$135,549	$0	0.00%
$200k-400k	44	$12,060,000	$274,091	$0	0.00%
$400k-600k	14	$6,680,000	$477,143	$0	0.00%
$600k-1MM	10	$7,110,000	$711,000	$0	0.00%
$1MM+	8	$14,070,000	$1,758,750	$0	0.00%

2020 saw Morris Bank place emphasis on $100,000 or less loans with 204 originations, totaling $10,070,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	49	$4,145,000	$84,592	$0	0.00%
$75k-100k	44	$5,710,000	$129,773	$0	0.00%
$50k or less	43	$2,535,000	$58,953	$0	0.00%
$100k-150k	41	$4,065,000	$99,146	$0	0.00%
$150k-250k	33	$3,385,000	$102,576	$0	0.00%
$250k+	26	$8,950,000	$344,231	$0	0.00%

Morris Bank lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $75k-100k, with 44 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	371	$62,325,000	$167,992	$0	0.00%

Morris Bank lent most frequently to those with DTI ratios of Exempt%, with 371 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	135	$33,535,000	$248,407	$0	0.00%
White	188	$24,770,000	$131,755	$0	0.00%
Black	36	$2,680,000	$74,444	$0	0.00%
Not provided	8	$720,000	$90,000	$0	0.00%
Asian	3	$505,000	$168,333	$0	0.00%
Asian Indian	1	$115,000	$115,000	$0	0.00%

Approval Rates

Total approvals of all applications
83.33%

Morris Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
76.01%

Morris Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	371	$62,325,000	$167,992

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	4	$990,000	$247,500
Multifamily:Site-Built	32	$21,290,000	$665,313
Single Family (1-4 Units):Manufactured	50	$2,370,000	$47,400
Single Family (1-4 Units):Site-Built	285	$37,675,000	$132,193

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	$26,707
Morris Bank	110 Hwy 18 Connector Gray, GA 31032	Full Service B&M	$185,104
Morris Bank	2003 Veterans Blvd Dublin, GA 31021	Full Service B&M	$153,125
Morris Bank	201 North Main Street Statesboro, GA 30458	Full Service B&M	$138,650
Morris Bank	280 Milledgeville Highway Gordon, GA 31031	Full Service B&M	$45,102
Morris Bank	29 North Parker Avenue Brooklet, GA 30415	Full Service B&M	$36,750
Morris Bank	301 Bellevue Avenue Dublin, GA 31021	Full Service B&M	$267,486
Morris Bank	464 S. Houston Lake Road Warner Robins, GA 31088	Full Service B&M	$117,101
Morris Bank	777 Brannen Street Statesboro, GA 30458	Full Service B&M	$19,626

For 2020, Morris Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$54,847
Net interest income	$49,810
Total noninterest income	$4,898
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,951
Trading account gains and fees	$0
Additional Noninterest Income	$2,947
Pre-tax net operating income	$22,782
Securities gains (or losses, -)	$46
Income before extraordinary items	$18,972
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$18,972
Minority interest net income	$0
Net income	$18,972
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$18,933

Morris Bank's gross interest income from loans was $54,847,000.
Morris Bank's net interest income from loans was $49,810,000.
Morris Bank's fee based income from loans was $1,951,000.
Morris Bank's net income from loans was $18,972,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,037
Provision for credit losses	$3,635
Total noninterest expense	$28,291
Salaries and employee benefits	$16,656
Premises and equipment expense	$2,501
Additional noninterest expense	$9,134
Applicable income taxes	$3,856
Net charge-offs	$2,570
Cash dividends	$2,500

Morris Bank's interest expense for loans was $5,037,000.
Morris Bank's payroll and benefits expense were $16,656,000.
Morris Bank's property, plant and equipment expenses $2,501,000.

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	2.0%
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	1.0%
Credit card loans	0.0%
Other individual loans	1.0%
Auto loans	1.0%
Other consumer loans	1.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$1,091,308
Deposits held in domestic offices	$1,091,308
Deposits by Individuals, partnerships, and corporations	$893,116
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$198,185
Deposits by Commercial banks and other depository institutions in U.S.	$7
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$95,436
Demand deposits	$57,578
Nontransaction accounts	$995,872
Money market deposit accounts (MMDAs)	$333,098
Other savings deposits (excluding MMDAs)	$469,224
Total time deposits	$193,550
Total time and savings deposits	$1,033,730
Noninterest-bearing deposits	$286,868
Interest-bearing deposits	$804,440
Retail deposits	$1,040,673
IRAs and Keogh plan accounts	$28,917
Brokered deposits	$2,010
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,248,320
Cash & Balances due from depository institutions	$54,426
Interest-bearing balances	$47,829
Total securities	$218,159
Federal funds sold & reverse repurchase	$93,200
Net loans and leases	$828,636
Loan and leases loss allowance	$10,781
Trading account assets	$0
Bank premises and fixed assets	$15,990
Other real estate owned	$131
Goodwill and other intangibles	$11,690
All other assets	$26,088

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,248,320
Total Liabilities	$1,098,852
Total deposits	$1,091,308
Interest-bearing deposits	$804,440
Deposits held in domestic offices	$1,091,308
% insured (estimated)	$58
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$7,544

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$828,636
Loan and leases loss allowance	$10,781
Total loans and leases (domestic)	$839,417
All real estate loans	$661,105
Real estate loans in domestic offices	$661,105
Construction and development loans	$142,108
Residential 1-4 family construction	$31,880
Other construction, all land development and other land	$110,228
Loans secured by nonfarm nonresidential properties	$293,914
Nonfarm nonresidential secured by owner-occupied properties	$125,559
Commercial real estate & other non-farm, non-residential	$168,355
Multifamily residential real estate	$21,221
1-4 family residential loans	$173,287
Farmland loans	$30,575
Loans held in foreign offices	$0
Farm loans	$12,516
Commercial and industrial loans	$143,991
To non-U.S. addressees	$0
Loans to individuals	$20,721
Credit card loans	$0
Related Plans	$232
Consumer Auto Loans	$9,035
Other loans to individuals	$11,454
All other loans & leases	$2,172
Loans to foreign governments and official institutions	$0
Other loans	$193
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	$2,594
Non 1-4 family restructured loans & leases	$2,041
Total loans and leases (foreign)	$0

Morris Bank had $828,636,000 of loans outstanding in 2020. $661,105,000 of loans were in real estate loans. $142,108,000 of loans were in development loans. $21,221,000 of loans were in multifamily mortgage loans. $173,287,000 of loans were in 1-4 family mortgage loans. $12,516,000 of loans were in farm loans. $0 of loans were in credit card loans. $9,035,000 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	551	$111,447	$202,263
Nonfarm, nonresidential loans - <$100k	181	$8,096	$44,729
Nonfarm, nonresidential loans - $100-250k	189	$26,046	$137,810
Nonfarm, nonresidential loans - $250k-1MM	181	$77,305	$427,099
Commercial & Industrial, US addressed loans - <$1MM	1,879	$108,755	$57,879
Commercial & Industrial, US addressed loans - <$100k	1,516	$39,377	$25,974
Commercial & Industrial, US addressed loans - $100-250k	229	$26,298	$114,838
Commercial & Industrial, US addressed loans - $250k-1MM	134	$43,080	$321,493
Farmland loans - <$1MM	108	$12,452	$115,296
Farmland loans - <$100k	49	$1,699	$34,673
Farmland loans - $100-250k	36	$4,497	$124,917
Farmland loans - $250k-1MM	23	$6,256	$272,000
Agriculture operations loans - <$1MM	75	$4,076	$54,347
Agriculture operations loans - <$100k	57	$1,272	$22,316
Agriculture operations loans - $100-250k	9	$706	$78,444
Agriculture operations loans - $250k-1MM	9	$2,098	$233,111