Southeast Bank Mortgage Rates, Fees & Info

Farragut, TN

LEI: 54930089R5VSN6GVCK47

Tax ID: 62-1859961

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Southeast Bank is a smaller bank specializing in Home Purchase and Refi loans. Southeast Bank has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Chattanooga, Cleveland, Cookeville, and Dayton among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southeast 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.

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Originations

266

Origination Dollar Volume (All Markets)

$65,540,000

Employee count

235

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
KNOXVILLE, TN (FHA\|USDA\|VA)	106	$29,600,000	$279,245	$0	0.00%
CHATTANOOGA, TN-GA (FHA\|USDA\|VA)	56	$17,330,000	$309,464	$0	0.00%
Outside of Metro Areas	23	$4,355,000	$189,348	$0	0.00%
CLEVELAND, TN (FHA\|USDA\|VA)	23	$3,895,000	$169,348	$0	0.00%
Cookeville, TN (FHA\|USDA\|VA)	18	$3,030,000	$168,333	$0	0.00%
Dayton, TN (FHA\|USDA\|VA)	22	$2,630,000	$119,545	$0	0.00%
Athens, TN (FHA\|USDA\|VA)	7	$1,395,000	$199,286	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$1,235,000	$1,235,000	$0	0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	2	$490,000	$245,000	$0	0.00%
DALTON, GA (FHA\|USDA\|VA)	1	$395,000	$395,000	$0	0.00%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$385,000	$385,000	$0	0.00%
KINGSPORT-BRISTOL, TN-VA (FHA\|USDA\|VA)	1	$325,000	$325,000	$0	0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	0.00%
Sevierville, TN (FHA\|USDA\|VA)	2	$150,000	$75,000	$0	0.00%
MORRISTOWN, TN (FHA\|USDA\|VA)	1	$135,000	$135,000	$0	0.00%
Crossville, TN (FHA\|USDA\|VA)	1	$25,000	$25,000	$0	0.00%

Southeast Bank's top markets include Knoxville, Chattanooga, Cleveland, Cookeville, and Dayton among others.

Their top states include:

Tennessee (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against SouthEast Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

CONSUMER Credit Union
Similarity Rank: 242

Home Federal Bank of Tennessee
Similarity Rank: 688

Community Trust Bank, Inc.
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ENRICHMENT
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F&M Bank
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LENDERFI, INC.
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Y-12 Federal Credit Union
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CU COMMUNITY, LLC
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ORNL Federal Credit Union
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KNOXVILLE TVA EMPLOYEES CREDIT UNION
Similarity Rank: 2736

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	266	$65,540,000	$246,391	$0	0.00%

For 2020, Southeast Bank's most frequently originated type of loan was Conventional, with 266 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	120	$34,920,000	$291,000	$0	0.00%
Refi	97	$22,815,000	$235,206	$0	0.00%
Cash Out Refi	26	$5,240,000	$201,538	$0	0.00%
Home Improvement	15	$1,925,000	$128,333	$0	0.00%
Other	8	$640,000	$80,000	$0	0.00%

For 2020, Southeast Bank's most frequently cited loan purpose was Home Purchase, with 120 originations. The 2nd most popular reason was Refi, with 97 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	266	$65,540,000	$246,391	$0	0.00%

For 2020, Southeast Bank's most frequently cited loan duration was Other, with 266 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	104	$15,200,000	$146,154	$0	0.00%
$200k-400k	81	$22,815,000	$281,667	$0	0.00%
$100,000 or less	49	$3,075,000	$62,755	$0	0.00%
$400k-600k	20	$9,300,000	$465,000	$0	0.00%
$1MM+	7	$11,095,000	$1,585,000	$0	0.00%
$600k-1MM	5	$4,055,000	$811,000	$0	0.00%

2020 saw Southeast Bank place emphasis on $100k-200k loans with 104 originations, totaling $15,200,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	50	$11,100,000	$222,000	$0	0.00%
$50k-75k	44	$7,370,000	$167,500	$0	0.00%
$50k or less	39	$4,835,000	$123,974	$0	0.00%
$75k-100k	36	$7,820,000	$217,222	$0	0.00%
$250k+	29	$14,445,000	$498,103	$0	0.00%
$150k-250k	28	$8,700,000	$310,714	$0	0.00%

Southeast Bank lent most frequently to those with incomes in the $100k-150k range, with 50 originations. The second most popular income band? $50k-75k, with 44 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	266	$65,540,000	$246,391	$0	0.00%

Southeast Bank lent most frequently to those with DTI ratios of Exempt%, with 266 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	213	$50,385,000	$236,549	$0	0.00%
Not applicable	32	$9,620,000	$300,625	$0	0.00%
Not provided	16	$3,640,000	$227,500	$0	0.00%
Asian	4	$1,140,000	$285,000	$0	0.00%
Black	1	$755,000	$755,000	$0	0.00%

Approval Rates

Total approvals of all applications
92.99%

Southeast Bank has an average approval rate.

Pick Rate

Approvals leading to origination
74.44%

Southeast Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	266	$65,540,000	$246,391

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	5	$4,495,000	$899,000
Single Family (1-4 Units):Manufactured	4	$140,000	$35,000
Single Family (1-4 Units):Site-Built	257	$60,905,000	$236,984

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
SOUTHWEST FUNDING, LP	VA mortgage	Closing on a mortgage	1	20.0%
SOUTHWEST FUNDING, LP	FHA mortgage	Closing on a mortgage	3	60.0%
SOUTHWEST FUNDING, LP	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	20.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Southeast Bank	3475 Keith Street Nw Cleveland, TN 37312	Full Service B&M	$128,462
Southeast Bank	1065 East Tenth Street Cookeville, TN 38501	Full Service B&M	$88,536
Southeast Bank	10870 Hardin Valley Road Knoxville, TN 37932	Full Service B&M	$72,007
Southeast Bank	12700 Kingston Pike Farragut, TN 37934	Full Service B&M	$439,039
Southeast Bank	17670 State Highway 58 North Decatur, TN 37322	Full Service B&M	$90,897
Southeast Bank	1878 S Congress Parkway Athens, TN 37303	Full Service B&M	$199,073
Southeast Bank	285 Front Street Spring City, TN 37381	Full Service B&M	$75,410
Southeast Bank	3995 Rhea County Highway Dayton, TN 37321	Full Service B&M	$36,824
Southeast Bank	4924 North Broadway Knoxville, TN 37918	Full Service B&M	$17,391
Southeast Bank	4960 Kingston Pike Knoxville, TN 37919	Full Service B&M	$44,964
Southeast Bank	596 Town Creek Pkwy Lenoir City, TN 37771	Full Service B&M	$98,475
Southeast Bank	605 Chestnut St Chattanooga, TN 37450	Full Service B&M	$44,679
Southeast Bank	744 South Willow Avenue Cookeville, TN 38501	Full Service B&M	$196,756
Southeast Bank	9218 Lee Highway Ooltewah, TN 37363	Full Service B&M	$112,702

For 2020, Southeast Bank had 14 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$80,507
Net interest income	$61,263
Total noninterest income	$10,665
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,866
Trading account gains and fees	$0
Additional Noninterest Income	$8,799
Pre-tax net operating income	$21,283
Securities gains (or losses, -)	$0
Income before extraordinary items	$16,194
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$16,194
Minority interest net income	$0
Net income	$16,194
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$16,194

Southeast Bank's gross interest income from loans was $80,507,000.
Southeast Bank's net interest income from loans was $61,263,000.
Southeast Bank's fee based income from loans was $1,866,000.
Southeast Bank's net income from loans was $16,194,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$19,244
Provision for credit losses	$6,700
Total noninterest expense	$43,945
Salaries and employee benefits	$22,498
Premises and equipment expense	$4,260
Additional noninterest expense	$17,187
Applicable income taxes	$5,089
Net charge-offs	$5,896
Cash dividends	$0

Southeast Bank's interest expense for loans was $19,244,000.
Southeast Bank's payroll and benefits expense were $22,498,000.
Southeast Bank's property, plant and equipment expenses $4,260,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	4.0%
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	7.0%
Credit card loans	4.1%
Other individual loans	7.0%
Auto loans	0.0%
Other consumer loans	7.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$1,867,658
Deposits held in domestic offices	$1,867,658
Deposits by Individuals, partnerships, and corporations	$1,670,618
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$169,200
Deposits by Commercial banks and other depository institutions in U.S.	$27,840
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$317,286
Demand deposits	$35,514
Nontransaction accounts	$1,550,372
Money market deposit accounts (MMDAs)	$270,263
Other savings deposits (excluding MMDAs)	$523,691
Total time deposits	$756,418
Total time and savings deposits	$1,832,144
Noninterest-bearing deposits	$142,458
Interest-bearing deposits	$1,725,200
Retail deposits	$1,469,459
IRAs and Keogh plan accounts	$71,425
Brokered deposits	$312,786
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,094,997
Cash & Balances due from depository institutions	$118,575
Interest-bearing balances	$114,340
Total securities	$0
Federal funds sold & reverse repurchase	$0
Net loans and leases	$1,854,440
Loan and leases loss allowance	$6,743
Trading account assets	$0
Bank premises and fixed assets	$43,804
Other real estate owned	$44
Goodwill and other intangibles	$347
All other assets	$77,787

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,094,997
Total Liabilities	$1,919,870
Total deposits	$1,867,658
Interest-bearing deposits	$1,725,200
Deposits held in domestic offices	$1,867,658
% insured (estimated)	$78
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$39,282
Subordinated debt	$0
All other liabilities	$12,930

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,854,440
Loan and leases loss allowance	$6,743
Total loans and leases (domestic)	$1,861,183
All real estate loans	$571,376
Real estate loans in domestic offices	$571,376
Construction and development loans	$120,528
Residential 1-4 family construction	$37,306
Other construction, all land development and other land	$83,222
Loans secured by nonfarm nonresidential properties	$259,066
Nonfarm nonresidential secured by owner-occupied properties	$79,567
Commercial real estate & other non-farm, non-residential	$179,499
Multifamily residential real estate	$35,069
1-4 family residential loans	$150,797
Farmland loans	$5,916
Loans held in foreign offices	$0
Farm loans	$758
Commercial and industrial loans	$138,979
To non-U.S. addressees	$0
Loans to individuals	$1,148,277
Credit card loans	$389
Related Plans	$38
Consumer Auto Loans	$1,516
Other loans to individuals	$1,146,334
All other loans & leases	$3,411
Loans to foreign governments and official institutions	$0
Other loans	$3,193
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$628
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$5,868
Non 1-4 family restructured loans & leases	$3,926
Total loans and leases (foreign)	$0

SouthEast Bank had $1,854,440,000 of loans outstanding in 2020. $571,376,000 of loans were in real estate loans. $120,528,000 of loans were in development loans. $35,069,000 of loans were in multifamily mortgage loans. $150,797,000 of loans were in 1-4 family mortgage loans. $758,000 of loans were in farm loans. $389,000 of loans were in credit card loans. $1,516,000 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	281	$63,697	$226,680
Nonfarm, nonresidential loans - <$100k	51	$2,414	$47,333
Nonfarm, nonresidential loans - $100-250k	94	$13,277	$141,245
Nonfarm, nonresidential loans - $250k-1MM	136	$48,006	$352,985
Commercial & Industrial, US addressed loans - <$1MM	1,139	$92,898	$81,561
Commercial & Industrial, US addressed loans - <$100k	778	$21,456	$27,578
Commercial & Industrial, US addressed loans - $100-250k	218	$25,215	$115,665
Commercial & Industrial, US addressed loans - $250k-1MM	143	$46,227	$323,266
Farmland loans - <$1MM	25	$2,568	$102,720
Farmland loans - <$100k	12	$576	$48,000
Farmland loans - $100-250k	10	$956	$95,600
Farmland loans - $250k-1MM	3	$1,036	$345,333
Agriculture operations loans - <$1MM	24	$758	$31,583
Agriculture operations loans - <$100k	22	$540	$24,545
Agriculture operations loans - $100-250k	2	$218	$109,000