West Alabama Bank & Trust Mortgage Rates, Fees & Info

Reform, AL

LEI: 549300BWXUPDS3PDOL40

Tax ID: 63-0237528

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    West Alabama Bank & Trust is a smaller bank specializing in Refi and Home Purchase loans. West Alabama Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Tuscaloosa, Daphne, Pensacola, Cleveland, and Nashville among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    West Alabama Bank & Trust 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.

    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

    127

    Origination Dollar Volume (All Markets)

    $19,935,000

    Employee count

    164

    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
    TUSCALOOSA, AL (FHA|USDA|VA) 62 $11,700,000 $188,710 $869 5.96%
    Outside of Metro Areas 41 $2,935,000 $71,585 $1,008 6.07%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 5 $1,305,000 $261,000 $0 5.45%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $745,000 $745,000 $0 4.95%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $665,000 $665,000 $10,832 5.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $510,000 $255,000 $0 5.35%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $465,000 $465,000 $0 5.50%
    Columbus, MS (FHA|USDA|VA) 4 $320,000 $80,000 $1,570 6.58%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $310,000 $155,000 $0 5.25%
    Cullman, AL (FHA|USDA|VA) 1 $285,000 $285,000 $0 5.25%
    West Point, MS (FHA|USDA|VA) 1 $245,000 $245,000 $4,605 5.45%
    Jasper, AL (FHA|USDA|VA) 2 $130,000 $65,000 $0 6.13%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.00%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $110,000 $55,000 $0 5.78%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.25%
    West Alabama Bank & Trust's top markets include Tuscaloosa, Daphne, Pensacola, Cleveland, and Nashville among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 127 $19,935,000 $156,969 $1,203 5.93%

    For 2018, West Alabama Bank & Trust's most frequently originated type of loan was Conventional, with 127 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 69 $9,475,000 $137,319 $854 6.15%
    Home Purchase 52 $10,180,000 $195,769 $2,419 5.57%
    Home Improvement 4 $180,000 $45,000 $1,218 6.61%
    Other 2 $100,000 $50,000 $1,563 6.50%

    For 2018, West Alabama Bank & Trust's most frequently cited loan purpose was Refi, with 69 originations. The 2nd most popular reason was Home Purchase, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 45 $10,935,000 $243,000 $1,506 5.80%
    Other 25 $2,555,000 $102,200 $456 6.01%
    10 Year 21 $3,265,000 $155,476 $1,416 5.78%
    20 Year 20 $1,380,000 $69,000 $1,558 6.10%
    15 Year 13 $1,345,000 $103,462 $838 6.24%
    3 Year 2 $170,000 $85,000 $258 6.25%
    1 Year 1 $285,000 $285,000 $0 5.25%

    For 2018, West Alabama Bank & Trust's most frequently cited loan duration was 5 Year, with 45 originations. The 2nd most popular length was Other, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 42 $1,930,000 $45,952
    $1k-2k 1 $105,000 $105,000
    $2k-3k 1 $245,000 $245,000
    $5k+ 1 $665,000 $665,000

    West Alabama Bank & Trust's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 42 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 55 $2,375,000 $43,182
    5-6% 52 $8,650,000 $166,346
    4-5% 17 $8,555,000 $503,235
    3-4% 1 $295,000 $295,000
    7-8% 1 $45,000 $45,000
    Over 8% 1 $15,000 $15,000

    During 2018, West Alabama Bank & Trust's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 85 $3,965,000 $46,647 $946 6.20%
    $100k-200k 18 $2,480,000 $137,778 $850 5.56%
    $200k-400k 17 $4,545,000 $267,353 $2,795 5.37%
    $600k-1MM 3 $2,155,000 $718,333 $10,832 5.07%
    $1MM+ 2 $5,900,000 $2,950,000 $0 4.70%
    $400k-600k 2 $890,000 $445,000 $0 5.38%

    2018 saw West Alabama Bank & Trust place emphasis on $100,000 or less loans with 85 originations, totaling $3,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 31 $1,215,000 $39,194 $953 6.56%
    $50k-75k 21 $1,875,000 $89,286 $1,469 6.13%
    $100k-150k 16 $2,020,000 $126,250 $1,286 6.09%
    $75k-100k 16 $1,540,000 $96,250 $762 5.77%
    $150k-250k 9 $755,000 $83,889 $533 5.61%
    $250k+ 9 $3,415,000 $379,444 $10,832 5.29%

    West Alabama Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 31 originations. The second most popular income band? $50k-75k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 16 $880,000 $55,000 $999 6.26%
    20-30% 14 $820,000 $58,571 $856 6.20%
    30-36% 7 $905,000 $129,286 $2,418 6.46%
    >60% 3 $335,000 $111,667 $1,890 6.23%
    37% 2 $110,000 $55,000 $1,146 6.50%
    50-60% 2 $90,000 $45,000 $1,276 6.50%
    36% 2 $80,000 $40,000 $1,205 6.73%
    43% 1 $5,000 $5,000 $258 6.75%
    44% 1 $15,000 $15,000 $530 6.50%
    49% 1 $15,000 $15,000 $533 6.50%
    38% 1 $55,000 $55,000 $1,715 6.75%
    39% 1 $5,000 $5,000 $530 6.75%

    West Alabama Bank & Trust lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 81 $9,915,000 $122,407 $1,413 5.93%
    Not applicable 21 $8,705,000 $414,524 $0 5.37%
    Black 24 $850,000 $35,417 $650 6.46%
    Asian 1 $465,000 $465,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    88.40%

    West Alabama Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    74.02%

    West Alabama Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 127 $19,935,000 $156,969

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $1,430,000 $715,000
    Multifamily:Site-Built 2 $4,770,000 $2,385,000
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 122 $13,690,000 $112,213

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $595,000 $39,667 $1,023 6.31%
    40-60% 18 $1,540,000 $85,556 $759 5.89%
    60-80% 42 $4,620,000 $110,000 $1,197 6.04%
    80-100% 36 $11,210,000 $311,389 $1,312 5.60%
    Over 100% 5 $1,555,000 $311,000 $10,832 5.39%
    Under 20% 11 $415,000 $37,727 $607 6.42%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    West Alabama Bank & Trust 245 Main Street South Gordo, AL 35466 Full Service B&M $22,574
    West Alabama Bank & Trust 1014 Washington Street Marion, AL 36756 Full Service B&M $15,403
    West Alabama Bank & Trust 119 West Pusmataha Street Butler, AL 36904 Full Service B&M $52,267
    West Alabama Bank & Trust 27 Courthouse Square Livingston, AL 35470 Full Service B&M $38,730
    West Alabama Bank & Trust 28827 Hwy 5 Woodstock, AL 35188 Full Service B&M $10,477
    West Alabama Bank & Trust 30330 Hwy 17 Millport, AL 35576 Full Service B&M $39,257
    West Alabama Bank & Trust 305 2nd Street Northeast Fayette, AL 35555 Full Service B&M $49,467
    West Alabama Bank & Trust 31 Mcfarland Boulevard Northport, AL 35476 Full Service B&M $55,012
    West Alabama Bank & Trust 4 3rd Avenue Northwest Aliceville, AL 35442 Full Service B&M $55,058
    West Alabama Bank & Trust 507 Main Street Ethelsville, AL 35461 Full Service B&M $6,221
    West Alabama Bank & Trust 509 First Avenue West Reform, AL 35481 Full Service B&M $91,340
    West Alabama Bank & Trust 7680 Highway 69 South Tuscaloosa, AL 35405 Full Service B&M $15,822
    West Alabama Bank & Trust 86 Court Square Carrollton, AL 35447 Full Service B&M $49,843
    West Alabama Bank & Trust Second Avenue, Northwest Aliceville, AL 35442 Limited, Drive-thru $0

    For 2018, West Alabama Bank & Trust had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,673
    Net interest income $19,531
    Total noninterest income $5,660
    Gross Fiduciary activities income $3
    Service charges on deposit accounts $2,754
    Trading account gains and fees $0
    Additional Noninterest Income $2,903
    Pre-tax net operating income $9,017
    Securities gains (or losses, -) $-180
    Income before extraordinary items $7,051
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,051
    Minority interest net income $0
    Net income $7,051
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,195

    West Alabama Bank & Trust's gross interest income from loans was $24,673,000.
    West Alabama Bank & Trust's net interest income from loans was $19,531,000.
    West Alabama Bank & Trust's fee based income from loans was $2,754,000.
    West Alabama Bank & Trust's net income from loans was $7,051,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,142
    Provision for credit losses $625
    Total noninterest expense $15,549
    Salaries and employee benefits $8,121
    Premises and equipment expense $1,383
    Additional noninterest expense $6,045
    Applicable income taxes $1,786
    Net charge-offs $369
    Cash dividends $2,483

    West Alabama Bank & Trust's interest expense for loans was $5,142,000.
    West Alabama Bank & Trust's payroll and benefits expense were $8,121,000.
    West Alabama Bank & Trust's property, plant and equipment expenses $1,383,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $495,063
    Deposits held in domestic offices $495,063
    Deposits by Individuals, partnerships, and corporations $445,057
    Deposits by U.S. Government $8
    Deposits by States and political subdivisions in the U.S. $48,990
    Deposits by Commercial banks and other depository institutions in U.S. $1,008
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $33,465
    Demand deposits $23,077
    Nontransaction accounts $461,598
    Money market deposit accounts (MMDAs) $63,958
    Other savings deposits (excluding MMDAs) $174,564
    Total time deposits $223,076
    Total time and savings deposits $471,986
    Noninterest-bearing deposits $23,077
    Interest-bearing deposits $471,986
    Retail deposits $433,768
    IRAs and Keogh plan accounts $31,915
    Brokered deposits $4,017
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $606,858
    Cash & Balances due from depository institutions $12,100
    Interest-bearing balances $8,183
    Total securities $159,363
    Federal funds sold & reverse repurchase $1,060
    Net loans and leases $388,478
    Loan and leases loss allowance $4,109
    Trading account assets $0
    Bank premises and fixed assets $11,795
    Other real estate owned $50
    Goodwill and other intangibles $7,109
    All other assets $26,903

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $606,858
    Total Liabilities $524,344
    Total deposits $495,063
    Interest-bearing deposits $471,986
    Deposits held in domestic offices $495,063
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $25,000
    Subordinated debt $0
    All other liabilities $4,281

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $388,478
    Loan and leases loss allowance $4,109
    Total loans and leases (domestic) $392,587
    All real estate loans $314,952
    Real estate loans in domestic offices $314,952
    Construction and development loans $43,232
    Residential 1-4 family construction $21,892
    Other construction, all land development and other land $21,340
    Loans secured by nonfarm nonresidential properties $130,860
    Nonfarm nonresidential secured by owner-occupied properties $88,942
    Commercial real estate & other non-farm, non-residential $41,918
    Multifamily residential real estate $3,560
    1-4 family residential loans $85,390
    Farmland loans $51,910
    Loans held in foreign offices $0
    Farm loans $8,005
    Commercial and industrial loans $52,308
    To non-U.S. addressees $0
    Loans to individuals $11,055
    Credit card loans $0
    Related Plans $1,232
    Consumer Auto Loans $2,911
    Other loans to individuals $6,912
    All other loans & leases $6,267
    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 $4,354
    Non 1-4 family restructured loans & leases $4,354
    Total loans and leases (foreign) $0

    West Alabama Bank & Trust had $388,478,000 of loans outstanding in 2018. $314,952,000 of loans were in real estate loans. $43,232,000 of loans were in development loans. $3,560,000 of loans were in multifamily mortgage loans. $85,390,000 of loans were in 1-4 family mortgage loans. $8,005,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,911,000 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 298 $48,737 $163,547
    Nonfarm, nonresidential loans - <$100k 120 $4,534 $37,783
    Nonfarm, nonresidential loans - $100-250k 98 $11,903 $121,459
    Nonfarm, nonresidential loans - $250k-1MM 80 $32,300 $403,750
    Commercial & Industrial, US addressed loans - <$1MM 1,083 $36,996 $34,161
    Commercial & Industrial, US addressed loans - <$100k 941 $15,400 $16,366
    Commercial & Industrial, US addressed loans - $100-250k 105 $10,885 $103,667
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $10,711 $289,486
    Farmland loans - <$1MM 379 $26,772 $70,639
    Farmland loans - <$100k 269 $8,225 $30,576
    Farmland loans - $100-250k 73 $8,663 $118,671
    Farmland loans - $250k-1MM 37 $9,884 $267,135
    Agriculture operations loans - <$1MM 188 $6,135 $32,633
    Agriculture operations loans - <$100k 164 $2,977 $18,152
    Agriculture operations loans - $100-250k 20 $2,468 $123,400
    Agriculture operations loans - $250k-1MM 4 $690 $172,500