Georgia Banking Company Mortgage Rates, Fees & Info

Atlanta, GA

LEI: 5493001P6QB5ISAUNV97

Tax ID: 58-2657635

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Georgia Banking Company is a smaller bank specializing in Home Purchase and Refi loans. Georgia Banking 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.) Their top markets include Atlanta, Jacksonville, Charlotte, Athens, and Savannah among others. Georgia Banking 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.


Originations

201

Origination Dollar Volume (All Markets)

$83,665,000

Employee count

162

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 109 $30,525,000 $280,046 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $17,770,000 $4,442,500 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 18 $5,430,000 $301,667 $0 0.00%
Outside of Metro Areas 6 $4,440,000 $740,000 $0 0.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $3,345,000 $3,345,000 $0 0.00%
SAVANNAH, GA (FHA|USDA|VA) 2 $3,320,000 $1,660,000 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $2,300,000 $1,150,000 $0 0.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $2,065,000 $2,065,000 $0 0.00%
BRUNSWICK, GA (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 0.00%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 1 $1,315,000 $1,315,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,015,000 $338,333 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $795,000 $159,000 $0 0.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 2 $770,000 $385,000 $0 0.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 2 $640,000 $320,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $600,000 $300,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $560,000 $140,000 $0 0.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $540,000 $270,000 $0 0.00%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
GAINESVILLE, GA (FHA|USDA|VA) 3 $435,000 $145,000 $0 0.00%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
Brevard, NC (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $290,000 $145,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
LaGrange, GA-AL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $230,000 $115,000 $0 0.00%
SPARTANBURG, SC (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
COLUMBIA, SC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Richmond-Berea, KY (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Cookeville, TN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Calhoun, GA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Seneca, SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $5,000 $5,000 $0 0.00%
Cornelia, GA (FHA|USDA|VA) 1 $5,000 $5,000 $0 0.00%
COLUMBUS, GA-AL (FHA|USDA|VA) 1 $5,000 $5,000 $0 0.00%

Georgia Banking Company's top markets include Atlanta, Jacksonville, Charlotte, Athens, and Savannah among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 199 $83,315,000 $418,668 $0 0.00%
FHA 2 $350,000 $175,000 $0 0.00%

For the 2021 period, Georgia Banking Company's most frequently originated loan type of loans were Conventional, with 199 originations. Their 2nd most popular type is FHA, with 2 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 96 $26,570,000 $276,771 $0 0.00%
Other 51 $8,255,000 $161,863 $0 0.00%
Refi 27 $40,655,000 $1,505,741 $0 0.00%
Cash Out Refi 27 $8,185,000 $303,148 $0 0.00%

For the 2021, Georgia Banking Company's most frequently cited loan purpose of loans were Home Purchase, with 96 originations. The 2nd most popular reason of loans were Other, with 51 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 201 $83,665,000 $416,244 $0 0.00%

For the 2021, Georgia Banking Company's most frequently cited loan length of loans were Other, with 201 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 70 $2,980,000 $42,571 $0 0.00%
$100k-200k 47 $6,925,000 $147,340 $0 0.00%
$200k-400k 38 $10,150,000 $267,105 $0 0.00%
$400k-600k 22 $10,550,000 $479,545 $0 0.00%
$1MM+ 18 $48,430,000 $2,690,556 $0 0.00%
$600k-1MM 6 $4,630,000 $771,667 $0 0.00%

2021 saw Georgia Banking Company place emphasis on $100,000 or less loans with 70 originations, totaling $2,980,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 52 $25,910,000 $498,269 $0 0.00%
$150k-250k 47 $9,265,000 $197,128 $0 0.00%
$100k-150k 37 $6,385,000 $172,568 $0 0.00%
$50k or less 30 $800,000 $26,667 $0 0.00%
$75k-100k 13 $2,355,000 $181,154 $0 0.00%
$50k-75k 9 $1,365,000 $151,667 $0 0.00%

Georgia Banking Company lent most frequently to those with incomes in the $250k+ range, with 52 originations. The second most popular income band? $150k-250k, with 47 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 201 $83,665,000 $416,244 $0 0.00%

Georgia Banking Company lent most frequently to those with DTI ratios of Exempt%, with 201 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 144 $40,620,000 $282,083 $0 0.00%
Not applicable 12 $37,470,000 $3,122,500 $0 0.00%
Not provided 19 $4,005,000 $210,789 $0 0.00%
Black 23 $845,000 $36,739 $0 0.00%
Asian 3 $725,000 $241,667 $0 0.00%

Approval Rates

Total approvals of all applications
97.81%

Georgia Banking Company 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
84.34%

Georgia Banking Company has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 201 $83,665,000 $416,244

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
201 $83,665,000 $416,244

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Georgia Banking Company 1624 North Expressway Griffin, GA 30223 Full Service B&M $113,460
Georgia Banking Company 1776 Peachtree Street Ne Atlanta, GA 30309 Full Service Retail $1,657
Georgia Banking Company 6190 Powers Ferry Road Atlanta, GA 30339 Full Service B&M $510,403

For 2021, Georgia Banking Company had 3 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $26,109
Net interest income $20,752
Total noninterest income $6,317
Gross Fiduciary activities income $0
Service charges on deposit accounts $111
Trading account gains and fees $0
Additional Noninterest Income $6,206
Pre-tax net operating income $-13,806
Securities gains (or losses, -) $0
Income before extraordinary items $-10,782
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $-10,782
Minority interest net income $0
Net income $-10,782
Sale, conversion, retirement of capital stock, net $0
Net operating income $-10,782

Georgia Banking Company's gross interest income from loans was $26,109,000.
Georgia Banking Company's net interest income from loans was $20,752,000.
Georgia Banking Company's fee based income from loans was $111,000.
Georgia Banking Company's net income from loans was $-10,782,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,357
Provision for credit losses $8,392
Total noninterest expense $32,483
Salaries and employee benefits $22,692
Premises and equipment expense $2,213
Additional noninterest expense $7,578
Applicable income taxes $-3,024
Net charge-offs $706
Cash dividends $0

Georgia Banking Company's interest expense for loans was $5,357,000.
Georgia Banking Company's payroll and benefits expense were $22,692,000.
Georgia Banking Company's property, plant and equipment expenses $2,213,000.

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

Deposits

Type Value (in 000's)
Total deposits $1,040,782
Deposits held in domestic offices $1,040,782
Deposits by Individuals, partnerships, and corporations $933,578
Deposits by U.S. Government $711
Deposits by States and political subdivisions in the U.S. $18,061
Deposits by Commercial banks and other depository institutions in U.S. $88,432
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $330,265
Demand deposits $322,702
Nontransaction accounts $710,517
Money market deposit accounts (MMDAs) $400,856
Other savings deposits (excluding MMDAs) $1,795
Total time deposits $307,867
Total time and savings deposits $718,080
Noninterest-bearing deposits $313,984
Interest-bearing deposits $726,798
Retail deposits $902,792
IRAs and Keogh plan accounts $21,381
Brokered deposits $67,737
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,164,122
Cash & Balances due from depository institutions $58,570
Interest-bearing balances $54,496
Total securities $33,572
Federal funds sold & reverse repurchase $44,388
Net loans and leases $986,737
Loan and leases loss allowance $9,213
Trading account assets $0
Bank premises and fixed assets $7,096
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $33,759

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,164,122
Total Liabilities $1,053,734
Total deposits $1,040,782
Interest-bearing deposits $726,798
Deposits held in domestic offices $1,040,782
% insured (estimated) $44
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $12,952

Issued Loan Types

Type Value (in 000's)
Net loans and leases $986,737
Loan and leases loss allowance $9,213
Total loans and leases (domestic) $995,950
All real estate loans $733,361
Real estate loans in domestic offices $733,361
Construction and development loans $73,726
Residential 1-4 family construction $29,515
Other construction, all land development and other land $44,211
Loans secured by nonfarm nonresidential properties $244,897
Nonfarm nonresidential secured by owner-occupied properties $54,916
Commercial real estate & other non-farm, non-residential $189,981
Multifamily residential real estate $16,921
1-4 family residential loans $397,817
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $134,946
To non-U.S. addressees $0
Loans to individuals $32,670
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $32,670
All other loans & leases $98,614
Loans to foreign governments and official institutions $0
Other loans $98,614
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $21,078
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,723
Non 1-4 family restructured loans & leases $363
Total loans and leases (foreign) $0

Georgia Banking Company had $986,737,000 of loans outstanding in 2021. $733,361,000 of loans were in real estate loans. $73,726,000 of loans were in development loans. $16,921,000 of loans were in multifamily mortgage loans. $397,817,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 31 $8,352 $269,419
Nonfarm, nonresidential loans - <$100k 2 $109 $54,500
Nonfarm, nonresidential loans - $100-250k 4 $213 $53,250
Nonfarm, nonresidential loans - $250k-1MM 25 $8,030 $321,200
Commercial & Industrial, US addressed loans - <$1MM 77 $8,163 $106,013
Commercial & Industrial, US addressed loans - <$100k 13 $342 $26,308
Commercial & Industrial, US addressed loans - $100-250k 20 $1,872 $93,600
Commercial & Industrial, US addressed loans - $250k-1MM 44 $5,949 $135,205