First Volunteer Bank Mortgage Rates, Fees & Info

Chattanooga, TN

LEI: 54930095LY1EDFTWAG29

Tax ID: 62-0280730

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Mortgage Data

Bank Data

Review & Overview

First Volunteer Bank is a smaller bank specializing in Refi and Home Purchase loans. First Volunteer Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chattanooga, Knoxville, Cookeville, Cleveland, and Dayton among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Volunteer Bank has an 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

335

Origination Dollar Volume (All Markets)

$42,745,000

Employee count

269

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
CHATTANOOGA, TN-GA (FHA|USDA|VA) 160 $23,970,000 $149,813 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 56 $5,380,000 $96,071 $0 0.00%
Outside of Metro Areas 30 $4,240,000 $141,333 $0 0.00%
Cookeville, TN (FHA|USDA|VA) 32 $3,400,000 $106,250 $0 0.00%
CLEVELAND, TN (FHA|USDA|VA) 17 $1,705,000 $100,294 $0 0.00%
Dayton, TN (FHA|USDA|VA) 3 $1,005,000 $335,000 $0 0.00%
Lawrenceburg, TN (FHA|USDA|VA) 9 $545,000 $60,556 $0 0.00%
Athens, TN (FHA|USDA|VA) 8 $450,000 $56,250 $0 0.00%
DALTON, GA (FHA|USDA|VA) 4 $400,000 $100,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $350,000 $87,500 $0 0.00%
Summerville, GA (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Scottsboro, AL (FHA|USDA|VA) 3 $245,000 $81,667 $0 0.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
London, KY (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
Crossville, TN (FHA|USDA|VA) 2 $160,000 $80,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
ROME, GA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
First Volunteer Bank's top markets include Chattanooga, Knoxville, Cookeville, Cleveland, and Dayton among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 335 $42,745,000 $127,597 $0 0.00%

    For 2018, First Volunteer Bank's most frequently originated type of loan was Conventional, with 335 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 186 $22,820,000 $122,688 $0 0.00%
    Home Purchase 138 $19,120,000 $138,551 $0 0.00%
    Home Improvement 9 $625,000 $69,444 $0 0.00%
    Other 2 $180,000 $90,000 $0 0.00%

    For 2018, First Volunteer Bank's most frequently cited loan purpose was Refi, with 186 originations. The 2nd most popular reason was Home Purchase, with 138 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 335 $42,745,000 $127,597 $0 0.00%

    For 2018, First Volunteer Bank's most frequently cited loan duration was Other, with 335 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 204 $11,360,000 $55,686 $0 0.00%
    $100k-200k 82 $11,660,000 $142,195 $0 0.00%
    $200k-400k 36 $9,900,000 $275,000 $0 0.00%
    $400k-600k 7 $3,555,000 $507,857 $0 0.00%
    $600k-1MM 4 $3,030,000 $757,500 $0 0.00%
    $1MM+ 2 $3,240,000 $1,620,000 $0 0.00%

    2018 saw First Volunteer Bank place emphasis on $100,000 or less loans with 204 originations, totaling $11,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 72 $5,170,000 $71,806 $0 0.00%
    $50k-75k 63 $5,125,000 $81,349 $0 0.00%
    $100k-150k 48 $6,310,000 $131,458 $0 0.00%
    $150k-250k 26 $3,840,000 $147,692 $0 0.00%
    $250k+ 24 $4,360,000 $181,667 $0 0.00%
    $75k-100k 23 $3,225,000 $140,217 $0 0.00%

    First Volunteer Bank lent most frequently to those with incomes in the $50k or less range, with 72 originations. The second most popular income band? $50k-75k, with 63 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 335 $42,745,000 $127,597 $0 0.00%

    First Volunteer Bank lent most frequently to those with DTI ratios of Exempt%, with 335 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 246 $27,260,000 $110,813 $0 0.00%
    Not applicable 62 $11,350,000 $183,065 $0 0.00%
    Asian 8 $1,520,000 $190,000 $0 0.00%
    Black 14 $1,360,000 $97,143 $0 0.00%
    Asian Indian 2 $670,000 $335,000 $0 0.00%
    Not provided 1 $305,000 $305,000 $0 0.00%
    American Indian 1 $155,000 $155,000 $0 0.00%
    Other Asian 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    77.69%

    First Volunteer Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    86.57%

    First Volunteer Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 335 $42,745,000 $127,597

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $465,000 $155,000
    Multifamily:Site-Built 26 $8,840,000 $340,000
    Single Family (1-4 Units):Manufactured 41 $2,775,000 $67,683
    Single Family (1-4 Units):Site-Built 265 $30,665,000 $115,717

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 5 35.7%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 3 21.4%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Volunteer Bank 105 Betsy Pack Drive Jasper, TN 37347 Full Service B&M $39,815
    First Volunteer Bank 106 Highway 20 Summertown, TN 38483 Full Service B&M $19,560
    First Volunteer Bank 13108 Highway 28 South Pittsburg, TN 37380 Full Service B&M $15,471
    First Volunteer Bank 13108 Highway 28 Whitwell, TN 37397 Full Service B&M $24,152
    First Volunteer Bank 137 Ushy 64 Ocoee, TN 37361 Full Service B&M $16,855
    First Volunteer Bank 1401 North Locust Avenue Lawrenceburg, TN 38464 Full Service B&M $50,967
    First Volunteer Bank 1834 Gunbarrel Rd Chattanooga, TN 37421 Full Service B&M $43,233
    First Volunteer Bank 189 Fifth Street Jellico, TN 37762 Full Service B&M $11,308
    First Volunteer Bank 210 East Commercial Avenue Monterey, TN 38574 Full Service B&M $21,084
    First Volunteer Bank 219 Ward St Benton, TN 37307 Full Service B&M $53,185
    First Volunteer Bank 2329 N. Main St La Fayette, GA 30728 Full Service B&M $14,139
    First Volunteer Bank 2367 Callahan Drive Knoxville, TN 37912 Full Service B&M $9,562
    First Volunteer Bank 244 E Central Ave La Follette, TN 37766 Full Service B&M $20,735
    First Volunteer Bank 301 Main St Jacksboro, TN 37757 Full Service B&M $71,573
    First Volunteer Bank 318 North Main Street Jamestown, TN 38556 Full Service B&M $45,997
    First Volunteer Bank 351 South Willow Avenue Cookeville, TN 38501 Full Service B&M $16,133
    First Volunteer Bank 4757 Highway 58 Chattanooga, TN 37416 Full Service B&M $24,434
    First Volunteer Bank 5102 Alabama Highway Ringgold, GA 30736 Full Service B&M $109,502
    First Volunteer Bank 5109 Hixson Pike Hixson, TN 37343 Full Service B&M $31,340
    First Volunteer Bank 515 North Tennessee Avenue Etowah, TN 37331 Full Service B&M $40,905
    First Volunteer Bank 6822 S York Hwy Clarkrange, TN 38553 Full Service B&M $25,316
    First Volunteer Bank 6825 Shallowford Road Chattanooga, TN 37421 Full Service B&M $22,329
    First Volunteer Bank 728 Broad Street Chattanooga, TN 37402 Full Service B&M $93,832
    First Volunteer Bank 769 Battlefield Parkway Fort Oglethorpe, GA 30742 Full Service B&M $39,302

    For 2018, First Volunteer Bank had 24 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $50,167
    Net interest income $47,926
    Total noninterest income $11,041
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,347
    Trading account gains and fees $0
    Additional Noninterest Income $7,694
    Pre-tax net operating income $25,470
    Securities gains (or losses, -) $0
    Income before extraordinary items $19,048
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $19,048
    Minority interest net income $0
    Net income $19,048
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $19,048

    First Volunteer Bank's gross interest income from loans was $50,167,000.
    First Volunteer Bank's net interest income from loans was $47,926,000.
    First Volunteer Bank's fee based income from loans was $3,347,000.
    First Volunteer Bank's net income from loans was $19,048,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,241
    Provision for credit losses $1,026
    Total noninterest expense $32,471
    Salaries and employee benefits $18,900
    Premises and equipment expense $3,205
    Additional noninterest expense $10,366
    Applicable income taxes $6,422
    Net charge-offs $1,082
    Cash dividends $6,800

    First Volunteer Bank's interest expense for loans was $2,241,000.
    First Volunteer Bank's payroll and benefits expense were $18,900,000.
    First Volunteer Bank's property, plant and equipment expenses $3,205,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.5%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $862,869
    Deposits held in domestic offices $862,869
    Deposits by Individuals, partnerships, and corporations $791,659
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $70,643
    Deposits by Commercial banks and other depository institutions in U.S. $567
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $145,540
    Demand deposits $99,029
    Nontransaction accounts $717,329
    Money market deposit accounts (MMDAs) $399,203
    Other savings deposits (excluding MMDAs) $136,860
    Total time deposits $181,266
    Total time and savings deposits $763,840
    Noninterest-bearing deposits $239,281
    Interest-bearing deposits $623,588
    Retail deposits $844,012
    IRAs and Keogh plan accounts $40,395
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $986,526
    Cash & Balances due from depository institutions $111,878
    Interest-bearing balances $89,676
    Total securities $29,429
    Federal funds sold & reverse repurchase $500
    Net loans and leases $790,332
    Loan and leases loss allowance $9,749
    Trading account assets $0
    Bank premises and fixed assets $19,785
    Other real estate owned $5,038
    Goodwill and other intangibles $1,346
    All other assets $28,218

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $986,526
    Total Liabilities $870,432
    Total deposits $862,869
    Interest-bearing deposits $623,588
    Deposits held in domestic offices $862,869
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $3,780
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,783

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $790,332
    Loan and leases loss allowance $9,749
    Total loans and leases (domestic) $800,081
    All real estate loans $704,905
    Real estate loans in domestic offices $704,905
    Construction and development loans $131,525
    Residential 1-4 family construction $44,967
    Other construction, all land development and other land $86,558
    Loans secured by nonfarm nonresidential properties $340,214
    Nonfarm nonresidential secured by owner-occupied properties $139,145
    Commercial real estate & other non-farm, non-residential $201,069
    Multifamily residential real estate $22,756
    1-4 family residential loans $200,119
    Farmland loans $10,291
    Loans held in foreign offices $0
    Farm loans $389
    Commercial and industrial loans $74,723
    To non-U.S. addressees $0
    Loans to individuals $19,823
    Credit card loans $2,330
    Related Plans $2,094
    Consumer Auto Loans $5,626
    Other loans to individuals $9,773
    All other loans & leases $661
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $2,103
    Non 1-4 family restructured loans & leases $805
    Total loans and leases (foreign) $0

    First Volunteer Bank had $790,332,000 of loans outstanding in 2018. $704,905,000 of loans were in real estate loans. $131,525,000 of loans were in development loans. $22,756,000 of loans were in multifamily mortgage loans. $200,119,000 of loans were in 1-4 family mortgage loans. $389,000 of loans were in farm loans. $2,330,000 of loans were in credit card loans. $5,626,000 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 474 $107,702 $227,219
    Nonfarm, nonresidential loans - <$100k 99 $4,607 $46,535
    Nonfarm, nonresidential loans - $100-250k 169 $22,171 $131,189
    Nonfarm, nonresidential loans - $250k-1MM 206 $80,924 $392,835
    Commercial & Industrial, US addressed loans - <$1MM 491 $34,664 $70,599
    Commercial & Industrial, US addressed loans - <$100k 345 $6,732 $19,513
    Commercial & Industrial, US addressed loans - $100-250k 74 $6,299 $85,122
    Commercial & Industrial, US addressed loans - $250k-1MM 72 $21,633 $300,458
    Farmland loans - <$1MM 26 $4,588 $176,462
    Farmland loans - <$100k 9 $431 $47,889
    Farmland loans - $100-250k 8 $1,023 $127,875
    Farmland loans - $250k-1MM 9 $3,134 $348,222
    Agriculture operations loans - <$1MM 10 $389 $38,900
    Agriculture operations loans - <$100k 8 $204 $25,500
    Agriculture operations loans - $100-250k 2 $185 $92,500