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 Athens among others. We have data for 15 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

261

Origination Dollar Volume (All Markets)

$42,945,000

Employee count

247

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) 130 $23,760,000 $182,769 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 42 $5,490,000 $130,714 $0 0.00%
Cookeville, TN (FHA|USDA|VA) 24 $4,750,000 $197,917 $0 0.00%
CLEVELAND, TN (FHA|USDA|VA) 14 $2,080,000 $148,571 $0 0.00%
Athens, TN (FHA|USDA|VA) 11 $1,875,000 $170,455 $0 0.00%
Lawrenceburg, TN (FHA|USDA|VA) 8 $1,500,000 $187,500 $0 0.00%
Outside of Metro Areas 19 $1,285,000 $67,632 $0 0.00%
London, KY (FHA|USDA|VA) 4 $440,000 $110,000 $0 0.00%
DALTON, GA (FHA|USDA|VA) 2 $430,000 $215,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
Scottsboro, AL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Greeneville, TN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Crossville, TN (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
First Volunteer Bank's top markets include Chattanooga, Knoxville, Cookeville, Cleveland, and Athens among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 261 $42,945,000 $164,540 $0 0.00%

    For 2021, First Volunteer Bank's most frequently originated type of loan was Conventional, with 261 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 175 $28,135,000 $160,771 $0 0.00%
    Home Purchase 73 $13,505,000 $185,000 $0 0.00%
    Home Improvement 8 $1,040,000 $130,000 $0 0.00%
    Other 5 $265,000 $53,000 $0 0.00%

    For 2021, First Volunteer Bank's most frequently cited loan purpose was Refi, with 175 originations. The 2nd most popular reason was Home Purchase, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 261 $42,945,000 $164,540 $0 0.00%

    For 2021, First Volunteer Bank's most frequently cited loan duration was Other, with 261 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 131 $7,345,000 $56,069 $0 0.00%
    $100k-200k 71 $9,875,000 $139,085 $0 0.00%
    $200k-400k 37 $10,165,000 $274,730 $0 0.00%
    $400k-600k 10 $4,870,000 $487,000 $0 0.00%
    $600k-1MM 9 $6,975,000 $775,000 $0 0.00%
    $1MM+ 3 $3,715,000 $1,238,333 $0 0.00%

    2021 saw First Volunteer Bank place emphasis on $100,000 or less loans with 131 originations, totaling $7,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 43 $3,005,000 $69,884 $0 0.00%
    $50k-75k 42 $3,340,000 $79,524 $0 0.00%
    $100k-150k 40 $6,070,000 $151,750 $0 0.00%
    $75k-100k 35 $4,335,000 $123,857 $0 0.00%
    $150k-250k 19 $3,195,000 $168,158 $0 0.00%
    $250k+ 11 $4,015,000 $365,000 $0 0.00%

    First Volunteer Bank lent most frequently to those with incomes in the $50k or less range, with 43 originations. The second most popular income band? $50k-75k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 261 $42,945,000 $164,540 $0 0.00%

    First Volunteer Bank lent most frequently to those with DTI ratios of Exempt%, with 261 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 179 $23,915,000 $133,603 $0 0.00%
    Not applicable 55 $15,035,000 $273,364 $0 0.00%
    Black 19 $2,615,000 $137,632 $0 0.00%
    Asian 4 $980,000 $245,000 $0 0.00%
    Asian Indian 4 $400,000 $100,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.77%

    First Volunteer Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.06%

    First Volunteer Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 261 $42,945,000 $164,540

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    261 $42,945,000 $164,540

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 6 17.6%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 2.9%
    FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 2 5.9%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
    FIRST HORIZON BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 10 29.4%
    FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 2.9%
    FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 5.9%
    FIRST HORIZON BANK FHA mortgage Closing on a mortgage 1 2.9%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.9%
    FIRST HORIZON BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 5.9%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 5.9%

    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 $50,281
    First Volunteer Bank 106 Highway 20 Summertown, TN 38483 Full Service B&M $27,382
    First Volunteer Bank 13108 Highway 28 South Pittsburg, TN 37380 Full Service B&M $23,857
    First Volunteer Bank 13108 Highway 28 Whitwell, TN 37397 Full Service B&M $26,690
    First Volunteer Bank 137 Ushy 64 Ocoee, TN 37361 Full Service B&M $22,712
    First Volunteer Bank 1401 North Locust Avenue Lawrenceburg, TN 38464 Full Service B&M $70,066
    First Volunteer Bank 1834 Gunbarrel Rd Chattanooga, TN 37421 Full Service B&M $67,128
    First Volunteer Bank 189 Fifth Street Jellico, TN 37762 Full Service B&M $12,177
    First Volunteer Bank 210 East Commercial Avenue Monterey, TN 38574 Full Service B&M $31,269
    First Volunteer Bank 219 Ward St Benton, TN 37307 Full Service B&M $64,675
    First Volunteer Bank 2329 N. Main St La Fayette, GA 30728 Full Service B&M $16,008
    First Volunteer Bank 2367 Callahan Drive Knoxville, TN 37912 Full Service B&M $17,645
    First Volunteer Bank 244 E Central Ave La Follette, TN 37766 Full Service B&M $22,872
    First Volunteer Bank 301 Main St Jacksboro, TN 37757 Full Service B&M $103,165
    First Volunteer Bank 318 North Main Street Jamestown, TN 38556 Full Service B&M $57,717
    First Volunteer Bank 351 South Willow Avenue Cookeville, TN 38501 Full Service B&M $24,914
    First Volunteer Bank 4757 Highway 58 Chattanooga, TN 37416 Full Service B&M $34,345
    First Volunteer Bank 5102 Alabama Highway Ringgold, GA 30736 Full Service B&M $143,893
    First Volunteer Bank 5109 Hixson Pike Hixson, TN 37343 Full Service B&M $46,953
    First Volunteer Bank 515 North Tennessee Avenue Etowah, TN 37331 Full Service B&M $56,288
    First Volunteer Bank 6822 S York Hwy Clarkrange, TN 38553 Full Service B&M $33,090
    First Volunteer Bank 6825 Shallowford Road Chattanooga, TN 37421 Full Service B&M $38,640
    First Volunteer Bank 728 Broad Street Chattanooga, TN 37402 Full Service B&M $124,200
    First Volunteer Bank 769 Battlefield Parkway Fort Oglethorpe, GA 30742 Full Service B&M $44,750

    For 2021, First Volunteer Bank had 24 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $46,664
    Net interest income $45,515
    Total noninterest income $11,178
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,673
    Trading account gains and fees $0
    Additional Noninterest Income $8,505
    Pre-tax net operating income $28,985
    Securities gains (or losses, -) $10
    Income before extraordinary items $21,525
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $21,525
    Minority interest net income $0
    Net income $21,525
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $21,517

    First Volunteer Bank's gross interest income from loans was $46,664,000.
    First Volunteer Bank's net interest income from loans was $45,515,000.
    First Volunteer Bank's fee based income from loans was $2,673,000.
    First Volunteer Bank's net income from loans was $21,525,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,149
    Provision for credit losses $-7,000
    Total noninterest expense $34,708
    Salaries and employee benefits $17,682
    Premises and equipment expense $3,037
    Additional noninterest expense $13,989
    Applicable income taxes $7,470
    Net charge-offs $75
    Cash dividends $4,500

    First Volunteer Bank's interest expense for loans was $1,149,000.
    First Volunteer Bank's payroll and benefits expense were $17,682,000.
    First Volunteer Bank's property, plant and equipment expenses $3,037,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    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 2.2%
    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 $1,257,232
    Deposits held in domestic offices $1,257,232
    Deposits by Individuals, partnerships, and corporations $1,157,912
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $98,824
    Deposits by Commercial banks and other depository institutions in U.S. $496
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $344,682
    Demand deposits $344,682
    Nontransaction accounts $912,550
    Money market deposit accounts (MMDAs) $524,477
    Other savings deposits (excluding MMDAs) $221,367
    Total time deposits $166,706
    Total time and savings deposits $912,550
    Noninterest-bearing deposits $480,673
    Interest-bearing deposits $776,559
    Retail deposits $1,230,613
    IRAs and Keogh plan accounts $36,543
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,385,228
    Cash & Balances due from depository institutions $544,347
    Interest-bearing balances $518,146
    Total securities $4,223
    Federal funds sold & reverse repurchase $500
    Net loans and leases $785,835
    Loan and leases loss allowance $12,859
    Trading account assets $0
    Bank premises and fixed assets $18,079
    Other real estate owned $142
    Goodwill and other intangibles $679
    All other assets $31,423

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,385,228
    Total Liabilities $1,268,013
    Total deposits $1,257,232
    Interest-bearing deposits $776,559
    Deposits held in domestic offices $1,257,232
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $2,555
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $8,226

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $785,835
    Loan and leases loss allowance $12,859
    Total loans and leases (domestic) $798,694
    All real estate loans $718,101
    Real estate loans in domestic offices $718,101
    Construction and development loans $123,344
    Residential 1-4 family construction $41,380
    Other construction, all land development and other land $81,964
    Loans secured by nonfarm nonresidential properties $394,177
    Nonfarm nonresidential secured by owner-occupied properties $151,987
    Commercial real estate & other non-farm, non-residential $242,190
    Multifamily residential real estate $21,470
    1-4 family residential loans $170,760
    Farmland loans $8,350
    Loans held in foreign offices $0
    Farm loans $60
    Commercial and industrial loans $60,575
    To non-U.S. addressees $0
    Loans to individuals $20,423
    Credit card loans $1,947
    Related Plans $1,204
    Consumer Auto Loans $7,002
    Other loans to individuals $10,270
    All other loans & leases $413
    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 $1,657
    Non 1-4 family restructured loans & leases $1,569
    Total loans and leases (foreign) $0

    First Volunteer Bank had $785,835,000 of loans outstanding in 2021. $718,101,000 of loans were in real estate loans. $123,344,000 of loans were in development loans. $21,470,000 of loans were in multifamily mortgage loans. $170,760,000 of loans were in 1-4 family mortgage loans. $60,000 of loans were in farm loans. $1,947,000 of loans were in credit card loans. $7,002,000 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 388 $86,720 $223,505
    Nonfarm, nonresidential loans - <$100k 77 $3,580 $46,494
    Nonfarm, nonresidential loans - $100-250k 130 $15,578 $119,831
    Nonfarm, nonresidential loans - $250k-1MM 181 $67,562 $373,271
    Commercial & Industrial, US addressed loans - <$1MM 592 $31,279 $52,836
    Commercial & Industrial, US addressed loans - <$100k 469 $8,252 $17,595
    Commercial & Industrial, US addressed loans - $100-250k 62 $5,747 $92,694
    Commercial & Industrial, US addressed loans - $250k-1MM 61 $17,280 $283,279
    Farmland loans - <$1MM 13 $2,382 $183,231
    Farmland loans - <$100k 3 $131 $43,667
    Farmland loans - $100-250k 4 $337 $84,250
    Farmland loans - $250k-1MM 6 $1,914 $319,000
    Agriculture operations loans - <$1MM 3 $60 $20,000
    Agriculture operations loans - <$100k 3 $60 $20,000