Southern States Bank Mortgage Rates, Fees & Info
Anniston, ALLEI: 5493001XP7X9J8PCH525
Tax ID: 20-8866792
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & Overview
Southern States Bank is a smaller bank specializing in Refi and Home Purchase loans. Southern States Bank has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Auburn, Rocky Mount, Birmingham, and Cullman among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)Southern States Bank 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.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
92Origination Dollar Volume (All Markets)
$18,040,000Employee count
122Top 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 |
|---|---|---|---|---|---|
| COLUMBUS, GA-AL (FHA|USDA|VA) | 41 | $7,065,000 | $172,317 | $0 | 0.00% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 14 | $3,600,000 | $257,143 | $0 | 0.00% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 1 | $2,105,000 | $2,105,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 5 | $1,055,000 | $211,000 | $0 | 0.00% |
| Cullman, AL (FHA|USDA|VA) | 1 | $1,045,000 | $1,045,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 5 | $875,000 | $175,000 | $0 | 0.00% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 5 | $705,000 | $141,000 | $0 | 0.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 6 | $620,000 | $103,333 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 7 | $245,000 | $35,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Albertville, AL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Alexander City, AL (FHA|USDA|VA) | 3 | $65,000 | $21,667 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 92 | $18,040,000 | $196,087 | $0 | 0.00% |
For 2018, Southern States Bank's most frequently originated type of loan was Conventional, with 92 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 57 | $11,385,000 | $199,737 | $0 | 0.00% |
| Home Purchase | 34 | $6,640,000 | $195,294 | $0 | 0.00% |
| Home Improvement | 1 | $15,000 | $15,000 | $0 | 0.00% |
For 2018, Southern States Bank's most frequently cited loan purpose was Refi, with 57 originations. The 2nd most popular reason was Home Purchase, with 34 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 92 | $18,040,000 | $196,087 | $0 | 0.00% |
For 2018, Southern States Bank's most frequently cited loan duration was Other, with 92 originations.
Loan Sizing
2018 saw Southern States Bank place emphasis on $100,000 or less loans with 49 originations, totaling $2,555,000 in origination value.
Applicant Income
Southern States Bank lent most frequently to those with incomes in the $50k or less range, with 17 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 92 | $18,040,000 | $196,087 | $0 | 0.00% |
Southern States Bank lent most frequently to those with DTI ratios of Exempt%, with 92 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.22%
Southern States Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.52%
Southern States Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 92 | $18,040,000 | $196,087 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Southern Star Capital, L.L.C. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Southern States Bank | 101 West Fort Williams Street Sylacauga, AL 35150 | Full Service B&M | $40,848 |
| Southern States Bank | 1326 13th Street Columbus, GA 31901 | Full Service B&M | $9,670 |
| Southern States Bank | 2601 Frederick Road Opelika, AL 36801 | Full Service B&M | $72,433 |
| Southern States Bank | 415 Church Street, Building H, Suite 100 Huntsville, AL 35801 | Full Service B&M | $17,978 |
| Southern States Bank | 5604 Whittlesey Blvd Columbus, GA 31909 | Full Service B&M | $132,336 |
| Southern States Bank | 615 Quintard Avenue Anniston, AL 36202 | Full Service B&M | $228,971 |
| Southern States Bank | 7 Office Park Circle Birmingham, AL 35223 | Full Service Retail | $54,026 |
| Southern States Bank | 815 Opelika Rd Auburn, AL 36830 | Full Service B&M | $56,180 |
| Southern States Bank | 905 Maple Street Carrollton, GA 30117 | Full Service B&M | $39,393 |
For 2018, Southern States Bank had 9 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $37,193 |
| Net interest income | $29,985 |
| Total noninterest income | $3,449 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,107 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,342 |
| Pre-tax net operating income | $10,430 |
| Securities gains (or losses, -) | $-22 |
| Income before extraordinary items | $8,012 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,012 |
| Minority interest net income | $0 |
| Net income | $8,012 |
| Sale, conversion, retirement of capital stock, net | $171 |
| Net operating income | $8,029 |
Southern States Bank's gross interest income from loans was $37,193,000.
Southern States Bank's net interest income from loans was $29,985,000.
Southern States Bank's fee based income from loans was $1,107,000.
Southern States Bank's net income from loans was $8,012,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $7,208 |
| Provision for credit losses | $2,196 |
| Total noninterest expense | $20,808 |
| Salaries and employee benefits | $12,969 |
| Premises and equipment expense | $2,365 |
| Additional noninterest expense | $5,474 |
| Applicable income taxes | $2,396 |
| Net charge-offs | $117 |
| Cash dividends | $0 |
Southern States Bank's interest expense for loans was $7,208,000.
Southern States Bank's payroll and benefits expense were $12,969,000.
Southern States Bank's property, plant and equipment expenses $2,365,000.
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 | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $777,047 |
| Deposits held in domestic offices | $777,047 |
| Deposits by Individuals, partnerships, and corporations | $577,710 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $73,377 |
| Deposits by Commercial banks and other depository institutions in U.S. | $125,960 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $160,556 |
| Demand deposits | $137,240 |
| Nontransaction accounts | $616,491 |
| Money market deposit accounts (MMDAs) | $269,986 |
| Other savings deposits (excluding MMDAs) | $8,581 |
| Total time deposits | $337,924 |
| Total time and savings deposits | $639,807 |
| Noninterest-bearing deposits | $118,675 |
| Interest-bearing deposits | $658,372 |
| Retail deposits | $645,358 |
| IRAs and Keogh plan accounts | $11,093 |
| Brokered deposits | $92,417 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $888,073 |
| Cash & Balances due from depository institutions | $70,434 |
| Interest-bearing balances | $63,405 |
| Total securities | $52,133 |
| Federal funds sold & reverse repurchase | $15,994 |
| Net loans and leases | $696,146 |
| Loan and leases loss allowance | $7,833 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $16,310 |
| Other real estate owned | $572 |
| Goodwill and other intangibles | $6,375 |
| All other assets | $30,109 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $888,073 |
| Total Liabilities | $789,471 |
| Total deposits | $777,047 |
| Interest-bearing deposits | $658,372 |
| Deposits held in domestic offices | $777,047 |
| % insured (estimated) | $78 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $7,500 |
| Subordinated debt | $0 |
| All other liabilities | $4,924 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $696,146 |
| Loan and leases loss allowance | $7,833 |
| Total loans and leases (domestic) | $703,979 |
| All real estate loans | $566,179 |
| Real estate loans in domestic offices | $566,179 |
| Construction and development loans | $77,197 |
| Residential 1-4 family construction | $22,498 |
| Other construction, all land development and other land | $54,699 |
| Loans secured by nonfarm nonresidential properties | $351,335 |
| Nonfarm nonresidential secured by owner-occupied properties | $221,099 |
| Commercial real estate & other non-farm, non-residential | $130,236 |
| Multifamily residential real estate | $28,087 |
| 1-4 family residential loans | $97,317 |
| Farmland loans | $12,243 |
| Loans held in foreign offices | $0 |
| Farm loans | $1,346 |
| Commercial and industrial loans | $126,195 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $7,480 |
| Credit card loans | $0 |
| Related Plans | $1,068 |
| Consumer Auto Loans | $630 |
| Other loans to individuals | $5,782 |
| All other loans & leases | $4,849 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| 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 | $1,830 |
| Non 1-4 family restructured loans & leases | $1,182 |
| Total loans and leases (foreign) | $0 |
Southern States Bank had $696,146,000 of loans outstanding in 2018. $566,179,000 of loans were in real estate loans. $77,197,000 of loans were in development loans. $28,087,000 of loans were in multifamily mortgage loans. $97,317,000 of loans were in 1-4 family mortgage loans. $1,346,000 of loans were in farm loans. $0 of loans were in credit card loans. $630,000 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 | 342 | $91,268 | $266,865 |
| Nonfarm, nonresidential loans - <$100k | 42 | $1,797 | $42,786 |
| Nonfarm, nonresidential loans - $100-250k | 97 | $11,791 | $121,557 |
| Nonfarm, nonresidential loans - $250k-1MM | 203 | $77,680 | $382,660 |
| Commercial & Industrial, US addressed loans - <$1MM | 263 | $25,156 | $95,650 |
| Commercial & Industrial, US addressed loans - <$100k | 144 | $3,728 | $25,889 |
| Commercial & Industrial, US addressed loans - $100-250k | 61 | $6,070 | $99,508 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 58 | $15,358 | $264,793 |
| Farmland loans - <$1MM | 28 | $2,842 | $101,500 |
| Farmland loans - <$100k | 12 | $466 | $38,833 |
| Farmland loans - $100-250k | 11 | $1,402 | $127,455 |
| Farmland loans - $250k-1MM | 5 | $974 | $194,800 |
| Agriculture operations loans - <$1MM | 2 | $139 | $69,500 |
| Agriculture operations loans - <$100k | 2 | $139 | $69,500 |