The Bank Of Fayette County Mortgage Rates, Fees & Info
Piperton, TNLEI: 5493004VB8XJ1L0EOO76
Tax ID: 62-0301070
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Mortgage Data
Bank Data
Review & Overview
The Bank Of Fayette County is a smaller bank specializing in Home Purchase and Refi loans. The Bank Of Fayette County has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Nashville, Crestview, Atlanta, and Jackson among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)The Bank Of Fayette County has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. The Bank Of Fayette County 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 about average 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.60% | 11/22/24 |
| 30 Year Conventional Refi | 7.70% | 11/22/24 |
| 15 Year Conventional Purchase | 7.02% | 11/22/24 |
| 15 Year Conventional Refi | 7.19% | 11/22/24 |
| 15 Year Cash-out Refi | 7.19% | 11/22/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
The Bank Of Fayette County Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
241Origination Dollar Volume (All Markets)
$35,675,000Employee count
147Top 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) | 155 | $26,475,000 | $170,806 | $2,937 | 5.10% |
| Outside of Metro Areas | 70 | $6,780,000 | $96,857 | $2,117 | 5.28% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 4 | $920,000 | $230,000 | $3,262 | 4.96% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $3,006 | 4.75% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,934 | 5.25% |
| JACKSON, TN (FHA|USDA|VA) | 4 | $230,000 | $57,500 | $2,018 | 5.36% |
| Oxford, MS (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,058 | 4.75% |
| Brownsville, TN (FHA|USDA|VA) | 3 | $135,000 | $45,000 | $1,981 | 5.17% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Bank of Fayette County based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 241 | $35,675,000 | $148,029 | $2,692 | 5.15% |
For 2020, The Bank Of Fayette County's most frequently originated type of loan was Conventional, with 241 originations.
Loan Reason
For 2020, The Bank Of Fayette County's most frequently cited loan purpose was Home Purchase, with 174 originations. The 2nd most popular reason was Refi, with 31 originations.
Loan Duration/Length
For 2020, The Bank Of Fayette County's most frequently cited loan duration was 30 Year, with 121 originations. The 2nd most popular length was Other, with 38 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 97 | $7,265,000 | $74,897 |
| $1k-2k | 61 | $13,215,000 | $216,639 |
| $2k-3k | 13 | $5,725,000 | $440,385 |
| $3k-4k | 3 | $1,645,000 | $548,333 |
The Bank Of Fayette County's average total fees were $3,247, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 97 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 115 | $20,115,000 | $174,913 |
| 5-6% | 107 | $12,505,000 | $116,869 |
| 6-7% | 13 | $635,000 | $48,846 |
| 3-4% | 5 | $2,405,000 | $481,000 |
| 7-8% | 1 | $15,000 | $15,000 |
During 2020, The Bank Of Fayette County's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 4-5%, with 115 originations.
Loan Sizing
2020 saw The Bank Of Fayette County place emphasis on $100,000 or less loans with 110 originations, totaling $5,920,000 in origination value.
Applicant Income
The Bank Of Fayette County lent most frequently to those with incomes in the $50k or less range, with 56 originations. The second most popular income band? $50k-75k, with 42 originations.
Applicant Debt to Income Ratio
The Bank Of Fayette County lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? <20%, with 37 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.50%
The Bank Of Fayette County has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination97.10%
The Bank Of Fayette County has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 241 | $35,675,000 | $148,029 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 22 | 14.9% |
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Closing on a mortgage | 17 | 11.5% |
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Credit monitoring or identity theft protection services | 1 | 0.7% |
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Improper use of your report | 1 | 0.7% |
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Incorrect information on your report | 1 | 0.7% |
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Struggling to pay mortgage | 4 | 2.7% |
| TD BANK US HOLDING COMPANY | Conventional home mortgage | Trouble during payment process | 51 | 34.5% |
| TD BANK US HOLDING COMPANY | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 1.4% |
| TD BANK US HOLDING COMPANY | FHA mortgage | Trouble during payment process | 3 | 2.0% |
| TD BANK US HOLDING COMPANY | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 5 | 3.4% |
| TD BANK US HOLDING COMPANY | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 7 | 4.7% |
| TD BANK US HOLDING COMPANY | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 0.7% |
| TD BANK US HOLDING COMPANY | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 4 | 2.7% |
| TD BANK US HOLDING COMPANY | Home equity loan or line of credit (HELOC) | Trouble during payment process | 17 | 11.5% |
| TD BANK US HOLDING COMPANY | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 1.4% |
| TD BANK US HOLDING COMPANY | Other type of mortgage | Closing on a mortgage | 2 | 1.4% |
| TD BANK US HOLDING COMPANY | Other type of mortgage | Trouble during payment process | 8 | 5.4% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Bank of Fayette County | 1265 Hwy 57 Piperton, TN 38017 | Full Service B&M | $265,770 |
| The Bank of Fayette County | 14375 Highway 57 Moscow, TN 38057 | Full Service B&M | $31,294 |
| The Bank of Fayette County | 15995 Highway 64 Somerville, TN 38068 | Full Service B&M | $85,861 |
| The Bank of Fayette County | 25205 Hwy 57 Grand Junction, TN 38039 | Full Service B&M | $32,829 |
| The Bank of Fayette County | 2640 Highway 64 Whiteville, TN 38075 | Full Service B&M | $15,708 |
| The Bank of Fayette County | 3155 Highway 64 Eads, TN 38028 | Full Service B&M | $41,639 |
| The Bank of Fayette County | 327 Highway 70 West Mason, TN 38049 | Full Service B&M | $10,270 |
| The Bank of Fayette County | 3454 South Houston Levee Road Collierville, TN 38017 | Full Service B&M | $47,462 |
| The Bank of Fayette County | 503 W. Market Street Bolivar, TN 38008 | Full Service B&M | $34,442 |
| The Bank of Fayette County | 610 Mulberry Avenue Selmer, TN 38375 | Full Service B&M | $27,832 |
| The Bank of Fayette County | 6870 Hwy 64 Oakland, TN 38060 | Full Service B&M | $41,637 |
For 2020, The Bank Of Fayette County had 11 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $35,425 |
| Net interest income | $27,333 |
| Total noninterest income | $2,762 |
| Gross Fiduciary activities income | $4 |
| Service charges on deposit accounts | $576 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,182 |
| Pre-tax net operating income | $10,945 |
| Securities gains (or losses, -) | $228 |
| Income before extraordinary items | $8,112 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,112 |
| Minority interest net income | $0 |
| Net income | $8,112 |
| Sale, conversion, retirement of capital stock, net | $72 |
| Net operating income | $7,931 |
The Bank Of Fayette County's gross interest income from loans was $35,425,000.
The Bank Of Fayette County's net interest income from loans was $27,333,000.
The Bank Of Fayette County's fee based income from loans was $576,000.
The Bank Of Fayette County's net income from loans was $8,112,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $8,092 |
| Provision for credit losses | $1,858 |
| Total noninterest expense | $17,292 |
| Salaries and employee benefits | $10,564 |
| Premises and equipment expense | $1,913 |
| Additional noninterest expense | $4,815 |
| Applicable income taxes | $3,061 |
| Net charge-offs | $407 |
| Cash dividends | $1,450 |
The Bank Of Fayette County's interest expense for loans was $8,092,000.
The Bank Of Fayette County's payroll and benefits expense were $10,564,000.
The Bank Of Fayette County's property, plant and equipment expenses $1,913,000.
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 | 1.0% |
| 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 | $643,372 |
| Deposits held in domestic offices | $643,372 |
| Deposits by Individuals, partnerships, and corporations | $526,389 |
| Deposits by U.S. Government | $126 |
| Deposits by States and political subdivisions in the U.S. | $65,223 |
| Deposits by Commercial banks and other depository institutions in U.S. | $51,634 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $154,699 |
| Demand deposits | $121,623 |
| Nontransaction accounts | $488,673 |
| Money market deposit accounts (MMDAs) | $181,815 |
| Other savings deposits (excluding MMDAs) | $33,723 |
| Total time deposits | $273,134 |
| Total time and savings deposits | $521,749 |
| Noninterest-bearing deposits | $121,623 |
| Interest-bearing deposits | $521,749 |
| Retail deposits | $564,443 |
| IRAs and Keogh plan accounts | $26,890 |
| Brokered deposits | $36,689 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $729,599 |
| Cash & Balances due from depository institutions | $70,691 |
| Interest-bearing balances | $64,819 |
| Total securities | $51,590 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $578,801 |
| Loan and leases loss allowance | $7,951 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $20,398 |
| Other real estate owned | $134 |
| Goodwill and other intangibles | $73 |
| All other assets | $7,912 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $729,599 |
| Total Liabilities | $661,804 |
| Total deposits | $643,372 |
| Interest-bearing deposits | $521,749 |
| Deposits held in domestic offices | $643,372 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $14,932 |
| Subordinated debt | $0 |
| All other liabilities | $3,500 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $578,801 |
| Loan and leases loss allowance | $7,951 |
| Total loans and leases (domestic) | $586,752 |
| All real estate loans | $476,090 |
| Real estate loans in domestic offices | $476,090 |
| Construction and development loans | $79,406 |
| Residential 1-4 family construction | $52,034 |
| Other construction, all land development and other land | $27,372 |
| Loans secured by nonfarm nonresidential properties | $88,333 |
| Nonfarm nonresidential secured by owner-occupied properties | $68,410 |
| Commercial real estate & other non-farm, non-residential | $19,923 |
| Multifamily residential real estate | $3,499 |
| 1-4 family residential loans | $241,949 |
| Farmland loans | $62,903 |
| Loans held in foreign offices | $0 |
| Farm loans | $11,058 |
| Commercial and industrial loans | $47,181 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $49,416 |
| Credit card loans | $0 |
| Related Plans | $1,009 |
| Consumer Auto Loans | $23,605 |
| Other loans to individuals | $24,802 |
| All other loans & leases | $3,006 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $342 |
| 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 | $2,281 |
| Non 1-4 family restructured loans & leases | $1,552 |
| Total loans and leases (foreign) | $0 |
The Bank of Fayette County had $578,801,000 of loans outstanding in 2020. $476,090,000 of loans were in real estate loans. $79,406,000 of loans were in development loans. $3,499,000 of loans were in multifamily mortgage loans. $241,949,000 of loans were in 1-4 family mortgage loans. $11,058,000 of loans were in farm loans. $0 of loans were in credit card loans. $23,605,000 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 | 238 | $49,399 | $207,559 |
| Nonfarm, nonresidential loans - <$100k | 60 | $2,911 | $48,517 |
| Nonfarm, nonresidential loans - $100-250k | 91 | $12,363 | $135,857 |
| Nonfarm, nonresidential loans - $250k-1MM | 87 | $34,125 | $392,241 |
| Commercial & Industrial, US addressed loans - <$1MM | 959 | $42,010 | $43,806 |
| Commercial & Industrial, US addressed loans - <$100k | 825 | $19,043 | $23,082 |
| Commercial & Industrial, US addressed loans - $100-250k | 103 | $11,442 | $111,087 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 31 | $11,525 | $371,774 |
| Farmland loans - <$1MM | 295 | $31,513 | $106,824 |
| Farmland loans - <$100k | 159 | $7,232 | $45,484 |
| Farmland loans - $100-250k | 100 | $14,339 | $143,390 |
| Farmland loans - $250k-1MM | 36 | $9,942 | $276,167 |
| Agriculture operations loans - <$1MM | 64 | $3,461 | $54,078 |
| Agriculture operations loans - <$100k | 41 | $1,135 | $27,683 |
| Agriculture operations loans - $100-250k | 14 | $846 | $60,429 |
| Agriculture operations loans - $250k-1MM | 9 | $1,480 | $164,444 |