Georgia Banking Company Mortgage Rates, Fees & Info
Atlanta, GALEI: 5493001P6QB5ISAUNV97
Tax ID: 58-2657635
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Bank Data
Review & Overview
Georgia Banking Company is a smaller bank specializing in Home Purchase loans. Georgia Banking Company has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Charlotte, Atlanta, Winston, Gainesville, and Chicago among others. We have data for 55 markets. (Some data included below & more in-depth data is available with an active subscription.)Georgia Banking Company 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. Georgia Banking Company 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
425Origination Dollar Volume (All Markets)
$80,465,000Employee count
108Awards
Georgia Banking Company - 2018
Georgia Banking Company is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 205 | $46,895,000 | $228,756 | $4,173 | 4.84% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 85 | $11,475,000 | $135,000 | $2,740 | 6.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 15 | $1,985,000 | $132,333 | $4,465 | 4.86% |
| GAINESVILLE, GA (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $18,725 | 6.75% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 6 | $1,060,000 | $176,667 | $5,023 | 6.56% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $10,919 | 5.38% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 6 | $980,000 | $163,333 | $2,402 | 5.94% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 3 | $965,000 | $321,667 | $3,477 | 6.04% |
| Outside of Metro Areas | 6 | $890,000 | $148,333 | $3,839 | 5.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 4 | $880,000 | $220,000 | $3,332 | 4.31% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 10 | $880,000 | $88,000 | $1,547 | 6.13% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $875,000 | $291,667 | $5,183 | 5.33% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $825,000 | $165,000 | $3,188 | 5.83% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $755,000 | $251,667 | $4,791 | 5.38% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $3,379 | 5.46% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $2,088 | 5.21% |
| Mount Airy, NC (FHA|USDA|VA) | 4 | $630,000 | $157,500 | $3,773 | 4.56% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $3,384 | 4.75% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $4,277 | 5.42% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 4 | $510,000 | $127,500 | $6,263 | 5.94% |
| COLUMBIA, SC (FHA|USDA|VA) | 6 | $500,000 | $83,333 | $1,750 | 6.90% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,747 | 5.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 4 | $440,000 | $110,000 | $4,593 | 5.19% |
| Shelby, NC (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $4,559 | 4.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 7.38% |
| Brevard, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,169 | 4.63% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 5.75% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $7,931 | 4.63% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,103 | 4.25% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 7.75% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 5.25% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,689 | 5.63% |
| Laurinburg, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,206 | 4.25% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $3,490 | 5.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $2,721 | 5.69% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,288 | 6.63% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,432 | 4.63% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,201 | 4.38% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $1,459 | 7.25% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,309 | 6.88% |
| FRESNO, CA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 8.50% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $110,000 | $55,000 | $2,601 | 6.06% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 5.75% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $1,569 | 6.31% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $1,344 | 7.38% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,287 | 5.50% |
| DALTON, GA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,675 | 4.50% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,563 | 5.63% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,282 | 6.13% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.63% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,646 | 5.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $1,779 | 7.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $3,509 | 4.25% |
| BRUNSWICK, GA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $4,660 | 4.50% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,072 | 6.75% |
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Product Mix
For 2018, Georgia Banking Company's most frequently originated type of loan was Conventional, with 249 originations. Their 2nd most popular type was HELOC, with 83 originations.
Loan Reason
For 2018, Georgia Banking Company's most frequently cited loan purpose was Home Purchase, with 324 originations. The 2nd most popular reason was Cash Out Refi, with 77 originations.
Loan Duration/Length
For 2018, Georgia Banking Company's most frequently cited loan duration was 30 Year, with 359 originations. The 2nd most popular length was 15 Year, with 38 originations.
Origination Fees/Closing Costs
Georgia Banking Company's average total fees were $4,264, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 226 originations.
Interest Rates
During 2018, Georgia Banking Company's average interest rate for loans was 5.20%, while their most frequently originated rate bucket for loans was 4-5%, with 218 originations.
Loan Sizing
2018 saw Georgia Banking Company place emphasis on $100k-200k loans with 160 originations, totaling $23,700,000 in origination value.
Applicant Income
Georgia Banking Company lent most frequently to those with incomes in the $150k-250k range, with 94 originations. The second most popular income band? $50k-75k, with 87 originations.
Applicant Debt to Income Ratio
Georgia Banking Company lent most frequently to those with DTI ratios of 30-36%, with 80 originations. The next most common DTI ratio? 20-30%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.09%
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 origination81.18%
Georgia Banking Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 425 | $80,465,000 | $189,329 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 425 | $80,465,000 | $189,329 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Georgia Banking Company | 1624 North Expressway Griffin, GA 30223 | Full Service B&M | $66,920 |
| Georgia Banking Company | 6190 Powers Ferry Road Atlanta, GA 30339 | Full Service B&M | $309,367 |
For 2018, Georgia Banking Company had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $22,488 |
| Net interest income | $16,108 |
| Total noninterest income | $9,114 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $86 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,028 |
| Pre-tax net operating income | $6,795 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $5,243 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,243 |
| Minority interest net income | $0 |
| Net income | $5,243 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,243 |
Georgia Banking Company's gross interest income from loans was $22,488,000.
Georgia Banking Company's net interest income from loans was $16,108,000.
Georgia Banking Company's fee based income from loans was $86,000.
Georgia Banking Company's net income from loans was $5,243,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,380 |
| Provision for credit losses | $352 |
| Total noninterest expense | $18,075 |
| Salaries and employee benefits | $11,820 |
| Premises and equipment expense | $1,251 |
| Additional noninterest expense | $5,004 |
| Applicable income taxes | $1,552 |
| Net charge-offs | $610 |
| Cash dividends | $1,300 |
Georgia Banking Company's interest expense for loans was $6,380,000.
Georgia Banking Company's payroll and benefits expense were $11,820,000.
Georgia Banking Company's property, plant and equipment expenses $1,251,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 2.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 3.0% |
| Nonfarm, nonresidential loans | 10.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 1.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 7.0% |
| Personal loans | 3.0% |
| Credit card loans | 0.0% |
| Other individual loans | 3.0% |
| Auto loans | 0.0% |
| Other consumer loans | 3.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $302,881 |
| Deposits held in domestic offices | $302,881 |
| Deposits by Individuals, partnerships, and corporations | $254,569 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $2,270 |
| Deposits by Commercial banks and other depository institutions in U.S. | $46,042 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $30,140 |
| Demand deposits | $27,430 |
| Nontransaction accounts | $272,741 |
| Money market deposit accounts (MMDAs) | $146,595 |
| Other savings deposits (excluding MMDAs) | $1,985 |
| Total time deposits | $124,160 |
| Total time and savings deposits | $275,451 |
| Noninterest-bearing deposits | $24,412 |
| Interest-bearing deposits | $278,469 |
| Retail deposits | $246,732 |
| IRAs and Keogh plan accounts | $20,842 |
| Brokered deposits | $38,814 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $350,058 |
| Cash & Balances due from depository institutions | $32,594 |
| Interest-bearing balances | $30,906 |
| Total securities | $23,192 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $272,138 |
| Loan and leases loss allowance | $1,567 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,556 |
| Other real estate owned | $2,187 |
| Goodwill and other intangibles | $0 |
| All other assets | $18,391 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $350,057 |
| Total Liabilities | $308,276 |
| Total deposits | $302,881 |
| Interest-bearing deposits | $278,469 |
| Deposits held in domestic offices | $302,881 |
| % insured (estimated) | $87 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $5,395 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $272,138 |
| Loan and leases loss allowance | $1,567 |
| Total loans and leases (domestic) | $273,705 |
| All real estate loans | $226,342 |
| Real estate loans in domestic offices | $226,342 |
| Construction and development loans | $28,213 |
| Residential 1-4 family construction | $26,729 |
| Other construction, all land development and other land | $1,484 |
| Loans secured by nonfarm nonresidential properties | $16,171 |
| Nonfarm nonresidential secured by owner-occupied properties | $8,616 |
| Commercial real estate & other non-farm, non-residential | $7,555 |
| Multifamily residential real estate | $82 |
| 1-4 family residential loans | $181,876 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $15,895 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $31,202 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $14 |
| Other loans to individuals | $31,188 |
| All other loans & leases | $266 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $266 |
| 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 | $846 |
| Non 1-4 family restructured loans & leases | $846 |
| Total loans and leases (foreign) | $0 |
Georgia Banking Company had $272,138,000 of loans outstanding in 2018. $226,342,000 of loans were in real estate loans. $28,213,000 of loans were in development loans. $82,000 of loans were in multifamily mortgage loans. $181,876,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $14,000 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 | 32 | $5,043 | $157,594 |
| Nonfarm, nonresidential loans - <$100k | 6 | $149 | $24,833 |
| Nonfarm, nonresidential loans - $100-250k | 6 | $527 | $87,833 |
| Nonfarm, nonresidential loans - $250k-1MM | 20 | $4,367 | $218,350 |
| Commercial & Industrial, US addressed loans - <$1MM | 87 | $10,289 | $118,264 |
| Commercial & Industrial, US addressed loans - <$100k | 32 | $708 | $22,125 |
| Commercial & Industrial, US addressed loans - $100-250k | 18 | $1,307 | $72,611 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 37 | $8,274 | $223,622 |