Banktennessee Mortgage Rates, Fees & Info

Collierville, TN

LEI: 549300095ABBENNWE160

Tax ID: 62-0201130

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Banktennessee is a smaller bank specializing in Home Purchase and Refi loans. Banktennessee has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Nashville, Brownsville, and Evansville among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Banktennessee has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Banktennessee 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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    Originations

    123

    Origination Dollar Volume (All Markets)

    $18,245,000

    Employee count

    74

    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
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 66 $9,590,000 $145,303 $2,310 5.78%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 27 $7,125,000 $263,889 $6,108 5.28%
    Outside of Metro Areas 26 $1,290,000 $49,615 $919 5.81%
    Brownsville, TN (FHA|USDA|VA) 3 $125,000 $41,667 $0 5.57%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.50%
    Banktennessee's top markets include Memphis, Nashville, Brownsville, and Evansville among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 93 $15,495,000 $166,613 $2,466 5.56%
    HELOC 30 $2,750,000 $91,667 n/a 6.01%

    For 2018, Banktennessee's most frequently originated type of loan was Conventional, with 93 originations. Their 2nd most popular type was HELOC, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 49 $7,375,000 $150,510 $2,207 5.56%
    Refi 44 $7,350,000 $167,045 $3,542 5.56%
    Cash Out Refi 12 $2,340,000 $195,000 $890 5.47%
    Other 10 $550,000 $55,000 $0 6.35%
    Home Improvement 8 $630,000 $78,750 $1,766 6.46%

    For 2018, Banktennessee's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 35 $3,815,000 $109,000 $1,054 5.97%
    15 Year 16 $1,590,000 $99,375 $3,827 5.49%
    5 Year 16 $2,350,000 $146,875 $1,213 5.66%
    30 Year 15 $4,135,000 $275,667 $3,365 5.49%
    Other 14 $3,140,000 $224,286 $503 5.74%
    20 Year 13 $1,765,000 $135,769 $1,200 5.38%
    1 Year 12 $1,400,000 $116,667 $2,604 5.46%
    3 Year 2 $50,000 $25,000 $0 6.13%

    For 2018, Banktennessee's most frequently cited loan duration was 10 Year, with 35 originations. The 2nd most popular length was 15 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 21 $2,355,000 $112,143
    $2k-3k 2 $610,000 $305,000
    $1k-2k 1 $265,000 $265,000
    $4k-5k 1 $385,000 $385,000
    $5k+ 1 $1,425,000 $1,425,000

    Banktennessee's average total fees were $3,365, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 80 $9,990,000 $124,875
    4-5% 20 $6,420,000 $321,000
    6-7% 18 $1,580,000 $87,778
    7-8% 4 $220,000 $55,000
    Over 8% 1 $35,000 $35,000

    During 2018, Banktennessee's average interest rate for loans was 5.49%, while their most frequently originated rate bucket for loans was 5-6%, with 80 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 71 $3,365,000 $47,394 $1,377 5.85%
    $100k-200k 27 $3,545,000 $131,296 $1,553 5.49%
    $200k-400k 16 $4,450,000 $278,125 $2,766 5.46%
    $400k-600k 4 $1,840,000 $460,000 $2,337 5.18%
    $600k-1MM 3 $2,615,000 $871,667 $0 5.25%
    $1MM+ 2 $2,430,000 $1,215,000 $18,314 5.00%

    2018 saw Banktennessee place emphasis on $100,000 or less loans with 71 originations, totaling $3,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 27 $4,215,000 $156,111 $1,928 5.81%
    $50k or less 18 $830,000 $46,111 $1,254 6.04%
    $250k+ 14 $4,420,000 $315,714 $5,394 5.39%
    $75k-100k 14 $1,020,000 $72,857 $2,293 6.01%
    $150k-250k 13 $1,295,000 $99,615 $503 5.63%
    $50k-75k 12 $1,090,000 $90,833 $773 5.65%

    Banktennessee lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $50k or less, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 26 $2,830,000 $108,846 $1,543 5.94%
    <20% 25 $3,355,000 $134,200 $2,186 5.42%
    20-30% 19 $1,465,000 $77,105 $818 5.95%
    39% 7 $635,000 $90,714 $2,614 5.95%
    40% 4 $120,000 $30,000 $1,369 6.62%
    36% 3 $85,000 $28,333 $0 5.93%
    >60% 3 $675,000 $225,000 $1,203 5.33%
    50-60% 2 $420,000 $210,000 $0 5.63%
    42% 1 $115,000 $115,000 $0 5.50%
    38% 1 $85,000 $85,000 $0 5.25%
    44% 1 $75,000 $75,000 $0 6.75%
    45% 1 $215,000 $215,000 $4,229 6.15%
    43% 1 $1,425,000 $1,425,000 $18,314 5.00%
    37% 1 $35,000 $35,000 $0 5.25%
    41% 1 $35,000 $35,000 $0 5.10%

    Banktennessee lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? <20%, with 25 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 81 $11,775,000 $145,370 $2,483 5.76%
    Not applicable 27 $5,535,000 $205,000 $5,219 5.30%
    Black 12 $700,000 $58,333 $853 5.96%
    Not provided 3 $235,000 $78,333 $2,569 5.37%

    Approval Rates

    Total approvals of all applications
    99.27%

    Banktennessee 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
    89.43%

    Banktennessee has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 123 $18,245,000 $148,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,920,000 $960,000
    Single Family (1-4 Units):Manufactured 8 $500,000 $62,500
    Single Family (1-4 Units):Site-Built 113 $15,825,000 $140,044

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,145,000 $67,353 $2,638 5.99%
    40-60% 22 $3,090,000 $140,455 $2,146 5.53%
    60-80% 54 $10,840,000 $200,741 $2,782 5.52%
    80-100% 11 $2,035,000 $185,000 $2,434 5.38%
    Under 20% 19 $1,135,000 $59,737 $1,291 6.15%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    BankTennessee 100 West Mulberry Street Collierville, TN 38017 Full Service B&M $11,808
    BankTennessee 1125 West Poplar Ave Collierville, TN 38017 Full Service B&M $65,341
    BankTennessee 26 Munford Avenue Munford, TN 38058 Full Service B&M $10,874
    BankTennessee 2915 Forest Hill Irene Germantown, TN 38139 Full Service B&M $23,627
    BankTennessee 30 N Second Memphis, TN 38103 Full Service B&M $52,231
    BankTennessee 312 Cleveland Street Ripley, TN 38063 Full Service B&M $23,498
    BankTennessee 355 South Hartman Drive Lebanon, TN 37087 Full Service Retail $32,807
    BankTennessee 5540 Poplar Ave Memphis, TN 38119 Full Service B&M $31,376

    For 2018, Banktennessee had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,706
    Net interest income $12,029
    Total noninterest income $1,508
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $557
    Trading account gains and fees $0
    Additional Noninterest Income $951
    Pre-tax net operating income $4,309
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,039
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,039
    Minority interest net income $0
    Net income $4,039
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,039

    Banktennessee's gross interest income from loans was $13,706,000.
    Banktennessee's net interest income from loans was $12,029,000.
    Banktennessee's fee based income from loans was $557,000.
    Banktennessee's net income from loans was $4,039,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,677
    Provision for credit losses $0
    Total noninterest expense $9,228
    Salaries and employee benefits $5,237
    Premises and equipment expense $1,309
    Additional noninterest expense $2,682
    Applicable income taxes $270
    Net charge-offs $1
    Cash dividends $2,299

    Banktennessee's interest expense for loans was $1,677,000.
    Banktennessee's payroll and benefits expense were $5,237,000.
    Banktennessee's property, plant and equipment expenses $1,309,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 3.0%
    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 2.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $270,143
    Deposits held in domestic offices $270,143
    Deposits by Individuals, partnerships, and corporations $262,618
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,177
    Deposits by Commercial banks and other depository institutions in U.S. $348
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $105,890
    Demand deposits $51,658
    Nontransaction accounts $164,253
    Money market deposit accounts (MMDAs) $79,888
    Other savings deposits (excluding MMDAs) $12,471
    Total time deposits $71,894
    Total time and savings deposits $218,485
    Noninterest-bearing deposits $51,658
    Interest-bearing deposits $218,485
    Retail deposits $257,581
    IRAs and Keogh plan accounts $4,935
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $303,106
    Cash & Balances due from depository institutions $24,043
    Interest-bearing balances $16,747
    Total securities $15,272
    Federal funds sold & reverse repurchase $4,511
    Net loans and leases $232,898
    Loan and leases loss allowance $3,265
    Trading account assets $0
    Bank premises and fixed assets $10,632
    Other real estate owned $0
    Goodwill and other intangibles $3,148
    All other assets $12,602

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $303,106
    Total Liabilities $271,023
    Total deposits $270,143
    Interest-bearing deposits $218,485
    Deposits held in domestic offices $270,143
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $880

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $232,898
    Loan and leases loss allowance $3,265
    Total loans and leases (domestic) $236,163
    All real estate loans $180,954
    Real estate loans in domestic offices $180,954
    Construction and development loans $33,298
    Residential 1-4 family construction $18,196
    Other construction, all land development and other land $15,102
    Loans secured by nonfarm nonresidential properties $59,146
    Nonfarm nonresidential secured by owner-occupied properties $20,578
    Commercial real estate & other non-farm, non-residential $38,568
    Multifamily residential real estate $2,205
    1-4 family residential loans $81,467
    Farmland loans $4,838
    Loans held in foreign offices $0
    Farm loans $1,256
    Commercial and industrial loans $42,043
    To non-U.S. addressees $0
    Loans to individuals $9,574
    Credit card loans $0
    Related Plans $784
    Consumer Auto Loans $1,899
    Other loans to individuals $6,891
    All other loans & leases $2,830
    Loans to foreign governments and official institutions $0
    Other loans $542
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    BankTennessee had $232,898,000 of loans outstanding in 2018. $180,954,000 of loans were in real estate loans. $33,298,000 of loans were in development loans. $2,205,000 of loans were in multifamily mortgage loans. $81,467,000 of loans were in 1-4 family mortgage loans. $1,256,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,899,000 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 135 $30,740 $227,704
    Nonfarm, nonresidential loans - <$100k 34 $1,539 $45,265
    Nonfarm, nonresidential loans - $100-250k 36 $4,263 $118,417
    Nonfarm, nonresidential loans - $250k-1MM 65 $24,938 $383,662
    Commercial & Industrial, US addressed loans - <$1MM 368 $26,444 $71,859
    Commercial & Industrial, US addressed loans - <$100k 288 $7,033 $24,420
    Commercial & Industrial, US addressed loans - $100-250k 39 $4,594 $117,795
    Commercial & Industrial, US addressed loans - $250k-1MM 41 $14,817 $361,390
    Farmland loans - <$1MM 31 $3,256 $105,032
    Farmland loans - <$100k 18 $797 $44,278
    Farmland loans - $100-250k 9 $1,056 $117,333
    Farmland loans - $250k-1MM 4 $1,403 $350,750