Southeast Bank Mortgage Rates, Fees & Info

Farragut, TN

LEI: 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.

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)
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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

    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