Southeast Bank Mortgage Rates, Fees & Info
Farragut, TNLEI: 54930089R5VSN6GVCK47
Tax ID: 62-1859961
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Mortgage Data
Bank 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.
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Originations
266Origination Dollar Volume (All Markets)
$65,540,000Employee count
235Top 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% |
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.
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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
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
2020 saw Southeast Bank place emphasis on $100k-200k loans with 104 originations, totaling $15,200,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications92.99%
Southeast Bank has an average approval rate.
Pick Rate
Approvals leading to origination74.44%
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
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 |