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 and Refi 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, Phoenix, Birmingham, and Los Angeles among others. We have data for 56 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.
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Originations
269Origination Dollar Volume (All Markets)
$58,385,000Employee count
100Top 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) | 83 | $19,635,000 | $236,566 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 100 | $17,790,000 | $177,900 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $2,805,000 | $2,805,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 8 | $1,390,000 | $173,750 | $0 | 0.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $1,350,000 | $675,000 | $0 | 0.00% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 3 | $1,175,000 | $391,667 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $1,080,000 | $270,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 3 | $655,000 | $218,333 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $0 | 0.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| Marion, NC (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| MONROE, LA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Jefferson, GA (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
| Albemarle, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
| ROME, GA (FHA|USDA|VA) | 3 | $195,000 | $65,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| LAFAYETTE, LA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Shelby, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 0.00% |
| SPARTANBURG, SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| GAINESVILLE, GA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
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Product Mix
For 2019, Georgia Banking Company's most frequently originated type of loan was Conventional, with 229 originations. Their 2nd most popular type was FHA, with 31 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 152 | $33,600,000 | $221,053 | $0 | 0.00% |
| Cash Out Refi | 65 | $8,555,000 | $131,615 | $0 | 0.00% |
| Refi | 52 | $16,230,000 | $312,115 | $0 | 0.00% |
For 2019, Georgia Banking Company's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 269 | $58,385,000 | $217,045 | $0 | 0.00% |
For 2019, Georgia Banking Company's most frequently cited loan duration was Other, with 269 originations.
Loan Sizing
2019 saw Georgia Banking Company place emphasis on $200k-400k loans with 88 originations, totaling $24,560,000 in origination value.
Applicant Income
Georgia Banking Company lent most frequently to those with incomes in the $150k-250k range, with 67 originations. The second most popular income band? $100k-150k, with 56 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 269 | $58,385,000 | $217,045 | $0 | 0.00% |
Georgia Banking Company lent most frequently to those with DTI ratios of Exempt%, with 269 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.03%
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 origination82.90%
Georgia Banking Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 269 | $58,385,000 | $217,045 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 269 | $58,385,000 | $217,045 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Georgia Banking Company | 1624 North Expressway Griffin, GA 30223 | Full Service B&M | $91,561 |
| Georgia Banking Company | 6190 Powers Ferry Road Atlanta, GA 30339 | Full Service B&M | $320,007 |
For 2019, Georgia Banking Company had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $23,512 |
| Net interest income | $14,510 |
| Total noninterest income | $7,030 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $203 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,827 |
| Pre-tax net operating income | $3,178 |
| Securities gains (or losses, -) | $19 |
| Income before extraordinary items | $2,471 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,471 |
| Minority interest net income | $0 |
| Net income | $2,471 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,455 |
Georgia Banking Company's gross interest income from loans was $23,512,000.
Georgia Banking Company's net interest income from loans was $14,510,000.
Georgia Banking Company's fee based income from loans was $203,000.
Georgia Banking Company's net income from loans was $2,471,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $9,002 |
| Provision for credit losses | $977 |
| Total noninterest expense | $17,385 |
| Salaries and employee benefits | $11,405 |
| Premises and equipment expense | $1,085 |
| Additional noninterest expense | $4,895 |
| Applicable income taxes | $726 |
| Net charge-offs | $1,054 |
| Cash dividends | $2,600 |
Georgia Banking Company's interest expense for loans was $9,002,000.
Georgia Banking Company's payroll and benefits expense were $11,405,000.
Georgia Banking Company's property, plant and equipment expenses $1,085,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 2.0% |
| Nonfarm, nonresidential loans | 10.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 2.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 5.0% |
| Personal loans | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 0.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $412,324 |
| Deposits held in domestic offices | $412,324 |
| Deposits by Individuals, partnerships, and corporations | $360,552 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $2,435 |
| Deposits by Commercial banks and other depository institutions in U.S. | $49,337 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $61,882 |
| Demand deposits | $46,739 |
| Nontransaction accounts | $350,442 |
| Money market deposit accounts (MMDAs) | $151,885 |
| Other savings deposits (excluding MMDAs) | $1,700 |
| Total time deposits | $196,857 |
| Total time and savings deposits | $365,585 |
| Noninterest-bearing deposits | $43,922 |
| Interest-bearing deposits | $368,402 |
| Retail deposits | $346,944 |
| IRAs and Keogh plan accounts | $22,366 |
| Brokered deposits | $60,815 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $474,830 |
| Cash & Balances due from depository institutions | $13,834 |
| Interest-bearing balances | $12,189 |
| Total securities | $17,021 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $422,664 |
| Loan and leases loss allowance | $1,490 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,430 |
| Other real estate owned | $1,947 |
| Goodwill and other intangibles | $0 |
| All other assets | $17,934 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $474,830 |
| Total Liabilities | $432,834 |
| Total deposits | $412,324 |
| Interest-bearing deposits | $368,402 |
| Deposits held in domestic offices | $412,324 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $5,000 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,000 |
| Subordinated debt | $0 |
| All other liabilities | $5,510 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $422,664 |
| Loan and leases loss allowance | $1,490 |
| Total loans and leases (domestic) | $424,154 |
| All real estate loans | $379,589 |
| Real estate loans in domestic offices | $379,589 |
| Construction and development loans | $33,300 |
| Residential 1-4 family construction | $29,827 |
| Other construction, all land development and other land | $3,473 |
| Loans secured by nonfarm nonresidential properties | $14,169 |
| Nonfarm nonresidential secured by owner-occupied properties | $7,470 |
| Commercial real estate & other non-farm, non-residential | $6,699 |
| Multifamily residential real estate | $0 |
| 1-4 family residential loans | $332,120 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $13,943 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $30,466 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $30,466 |
| All other loans & leases | $155 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $155 |
| 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 |
Georgia Banking Company had $422,664,000 of loans outstanding in 2019. $379,589,000 of loans were in real estate loans. $33,300,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $332,120,000 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 | 27 | $4,030 | $149,259 |
| Nonfarm, nonresidential loans - <$100k | 5 | $195 | $39,000 |
| Nonfarm, nonresidential loans - $100-250k | 4 | $263 | $65,750 |
| Nonfarm, nonresidential loans - $250k-1MM | 18 | $3,572 | $198,444 |
| Commercial & Industrial, US addressed loans - <$1MM | 76 | $8,904 | $117,158 |
| Commercial & Industrial, US addressed loans - <$100k | 18 | $422 | $23,444 |
| Commercial & Industrial, US addressed loans - $100-250k | 15 | $1,152 | $76,800 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 43 | $7,330 | $170,465 |