Insouth Bank Mortgage Rates, Fees & Info

Brownsville, TN

LEI: 5493007VODM6C3GLTV93

Tax ID: 62-0142445

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Insouth Bank is a smaller bank specializing in Home Purchase and Refi loans. Insouth Bank has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Brownsville, Jackson, Chattanooga, and Nashville among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Insouth Bank 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.

    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.

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    Originations

    93

    Origination Dollar Volume (All Markets)

    $17,435,000

    Employee count

    92

    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
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 54 $11,250,000 $208,333 $0 0.00%
    Outside of Metro Areas 7 $2,275,000 $325,000 $0 0.00%
    Brownsville, TN (FHA|USDA|VA) 23 $2,245,000 $97,609 $0 0.00%
    JACKSON, TN (FHA|USDA|VA) 6 $1,220,000 $203,333 $0 0.00%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Paris, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Insouth Bank's top markets include Memphis, Brownsville, Jackson, Chattanooga, and Nashville among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 93 $17,435,000 $187,473 $0 0.00%

    For 2020, Insouth Bank's most frequently originated type of loan was Conventional, with 93 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 51 $9,875,000 $193,627 $0 0.00%
    Refi 38 $7,330,000 $192,895 $0 0.00%
    Home Improvement 2 $150,000 $75,000 $0 0.00%
    Other 2 $80,000 $40,000 $0 0.00%

    For 2020, Insouth Bank's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Refi, with 38 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 93 $17,435,000 $187,473 $0 0.00%

    For 2020, Insouth Bank's most frequently cited loan duration was Other, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 50 $2,530,000 $50,600 $0 0.00%
    $100k-200k 19 $2,515,000 $132,368 $0 0.00%
    $200k-400k 13 $4,195,000 $322,692 $0 0.00%
    $400k-600k 6 $2,950,000 $491,667 $0 0.00%
    $600k-1MM 4 $3,310,000 $827,500 $0 0.00%
    $1MM+ 1 $1,935,000 $1,935,000 $0 0.00%

    2020 saw Insouth Bank place emphasis on $100,000 or less loans with 50 originations, totaling $2,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 25 $7,905,000 $316,200 $0 0.00%
    $50k or less 17 $955,000 $56,176 $0 0.00%
    $50k-75k 7 $445,000 $63,571 $0 0.00%
    $75k-100k 7 $425,000 $60,714 $0 0.00%
    $150k-250k 6 $1,720,000 $286,667 $0 0.00%
    $100k-150k 5 $655,000 $131,000 $0 0.00%

    Insouth Bank lent most frequently to those with incomes in the $250k+ range, with 25 originations. The second most popular income band? $50k or less, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 93 $17,435,000 $187,473 $0 0.00%

    Insouth Bank lent most frequently to those with DTI ratios of Exempt%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $11,815,000 $200,254 $0 0.00%
    Not applicable 26 $5,330,000 $205,000 $0 0.00%
    Black 7 $225,000 $32,143 $0 0.00%
    Not provided 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.98%

    Insouth Bank 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
    95.70%

    Insouth Bank 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
    Exempt 93 $17,435,000 $187,473

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $5,880,000 $588,000
    Single Family (1-4 Units):Manufactured 3 $165,000 $55,000
    Single Family (1-4 Units):Site-Built 80 $11,390,000 $142,375

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Insouth Bank 10950 Highway 51 South Atoka, TN 38004 Full Service B&M $35,965
    Insouth Bank 111 South Washington Street Brownsville, TN 38012 Full Service B&M $152,381
    Insouth Bank 1119 Dupree Street Brownsville, TN 38012 Limited, Drive-thru $0
    Insouth Bank 425 Highway 51 South Covington, TN 38019 Full Service B&M $76,380
    Insouth Bank 5299 Poplar Avenue Memphis, TN 38119 Full Service B&M $30,827
    Insouth Bank 7696 Highway 51 North Millington, TN 38053 Full Service B&M $40,453

    For 2020, Insouth Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,762
    Net interest income $15,297
    Total noninterest income $3,998
    Gross Fiduciary activities income $3
    Service charges on deposit accounts $1,721
    Trading account gains and fees $0
    Additional Noninterest Income $2,274
    Pre-tax net operating income $4,744
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,635
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,635
    Minority interest net income $0
    Net income $3,635
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,635

    Insouth Bank's gross interest income from loans was $16,762,000.
    Insouth Bank's net interest income from loans was $15,297,000.
    Insouth Bank's fee based income from loans was $1,721,000.
    Insouth Bank's net income from loans was $3,635,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,465
    Provision for credit losses $318
    Total noninterest expense $14,233
    Salaries and employee benefits $8,596
    Premises and equipment expense $2,047
    Additional noninterest expense $3,590
    Applicable income taxes $1,109
    Net charge-offs $235
    Cash dividends $2,600

    Insouth Bank's interest expense for loans was $1,465,000.
    Insouth Bank's payroll and benefits expense were $8,596,000.
    Insouth Bank's property, plant and equipment expenses $2,047,000.

    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 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 3.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $346,213
    Deposits held in domestic offices $346,213
    Deposits by Individuals, partnerships, and corporations $314,667
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $31,257
    Deposits by Commercial banks and other depository institutions in U.S. $289
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $35,966
    Demand deposits $24,226
    Nontransaction accounts $310,247
    Money market deposit accounts (MMDAs) $55,987
    Other savings deposits (excluding MMDAs) $169,274
    Total time deposits $84,984
    Total time and savings deposits $321,987
    Noninterest-bearing deposits $89,833
    Interest-bearing deposits $256,380
    Retail deposits $334,707
    IRAs and Keogh plan accounts $15,160
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $385,844
    Cash & Balances due from depository institutions $7,966
    Interest-bearing balances $3,804
    Total securities $37,986
    Federal funds sold & reverse repurchase $14,046
    Net loans and leases $303,603
    Loan and leases loss allowance $3,047
    Trading account assets $0
    Bank premises and fixed assets $6,981
    Other real estate owned $315
    Goodwill and other intangibles $0
    All other assets $14,947

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $385,844
    Total Liabilities $349,533
    Total deposits $346,213
    Interest-bearing deposits $256,380
    Deposits held in domestic offices $346,213
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,320

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $303,603
    Loan and leases loss allowance $3,047
    Total loans and leases (domestic) $306,650
    All real estate loans $230,218
    Real estate loans in domestic offices $230,218
    Construction and development loans $22,456
    Residential 1-4 family construction $10,230
    Other construction, all land development and other land $12,226
    Loans secured by nonfarm nonresidential properties $91,821
    Nonfarm nonresidential secured by owner-occupied properties $44,852
    Commercial real estate & other non-farm, non-residential $46,969
    Multifamily residential real estate $4,845
    1-4 family residential loans $85,748
    Farmland loans $25,348
    Loans held in foreign offices $0
    Farm loans $4,608
    Commercial and industrial loans $63,160
    To non-U.S. addressees $0
    Loans to individuals $8,598
    Credit card loans $0
    Related Plans $78
    Consumer Auto Loans $2,565
    Other loans to individuals $5,955
    All other loans & leases $67
    Loans to foreign governments and official institutions $0
    Other loans $67
    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 $237
    Non 1-4 family restructured loans & leases $114
    Total loans and leases (foreign) $0

    INSOUTH Bank had $303,603,000 of loans outstanding in 2020. $230,218,000 of loans were in real estate loans. $22,456,000 of loans were in development loans. $4,845,000 of loans were in multifamily mortgage loans. $85,748,000 of loans were in 1-4 family mortgage loans. $4,608,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,565,000 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 151 $30,359 $201,053
    Nonfarm, nonresidential loans - <$100k 47 $2,159 $45,936
    Nonfarm, nonresidential loans - $100-250k 45 $6,557 $145,711
    Nonfarm, nonresidential loans - $250k-1MM 59 $21,643 $366,831
    Commercial & Industrial, US addressed loans - <$1MM 603 $32,331 $53,617
    Commercial & Industrial, US addressed loans - <$100k 519 $15,653 $30,160
    Commercial & Industrial, US addressed loans - $100-250k 69 $7,502 $108,725
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $9,176 $611,733
    Farmland loans - <$1MM 99 $13,095 $132,273
    Farmland loans - <$100k 47 $2,135 $45,426
    Farmland loans - $100-250k 36 $4,960 $137,778
    Farmland loans - $250k-1MM 16 $6,000 $375,000
    Agriculture operations loans - <$1MM 51 $3,377 $66,216
    Agriculture operations loans - <$100k 37 $1,156 $31,243
    Agriculture operations loans - $100-250k 11 $1,204 $109,455
    Agriculture operations loans - $250k-1MM 3 $1,017 $339,000