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, Birmingham, Columbus, and Crestview among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    West Alabama Bank & Trust has an above average approval rate when compared to the average across all lenders. They have an above 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

    157

    Origination Dollar Volume (All Markets)

    $41,585,000

    Employee count

    160

    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 $20,810,000 $335,645 $0 0.00%
    Outside of Metro Areas 52 $6,380,000 $122,692 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 9 $3,895,000 $432,778 $0 0.00%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 12 $3,880,000 $323,333 $0 0.00%
    Columbus, MS (FHA|USDA|VA) 9 $1,605,000 $178,333 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,095,000 $1,095,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $960,000 $480,000 $0 0.00%
    HUNTSVILLE, AL (FHA|USDA|VA) 2 $890,000 $445,000 $0 0.00%
    Cullman, AL (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
    West Point, MS (FHA|USDA|VA) 2 $690,000 $345,000 $0 0.00%
    Meridian, MS (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
    Jasper, AL (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
    DECATUR, AL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    West Alabama Bank & Trust's top markets include Tuscaloosa, Daphne, Birmingham, Columbus, and Crestview among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 157 $41,585,000 $264,873 $0 0.00%

    For 2021, West Alabama Bank & Trust's most frequently originated type of loan was Conventional, with 157 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 80 $25,340,000 $316,750 $0 0.00%
    Home Purchase 71 $14,855,000 $209,225 $0 0.00%
    Home Improvement 5 $1,245,000 $249,000 $0 0.00%
    Other 1 $145,000 $145,000 $0 0.00%

    For 2021, West Alabama Bank & Trust's most frequently cited loan purpose was Refi, with 80 originations. The 2nd most popular reason was Home Purchase, with 71 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 157 $41,585,000 $264,873 $0 0.00%

    For 2021, West Alabama Bank & Trust's most frequently cited loan duration was Other, with 157 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 66 $3,160,000 $47,879 $0 0.00%
    $100k-200k 46 $6,800,000 $147,826 $0 0.00%
    $200k-400k 22 $5,620,000 $255,455 $0 0.00%
    $400k-600k 15 $7,565,000 $504,333 $0 0.00%
    $600k-1MM 6 $4,540,000 $756,667 $0 0.00%
    $1MM+ 2 $13,900,000 $6,950,000 $0 0.00%

    2021 saw West Alabama Bank & Trust place emphasis on $100,000 or less loans with 66 originations, totaling $3,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 28 $1,890,000 $67,500 $0 0.00%
    $250k+ 17 $5,825,000 $342,647 $0 0.00%
    $50k-75k 16 $1,690,000 $105,625 $0 0.00%
    $100k-150k 15 $2,295,000 $153,000 $0 0.00%
    $75k-100k 13 $1,425,000 $109,615 $0 0.00%
    $150k-250k 12 $3,190,000 $265,833 $0 0.00%

    West Alabama Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 28 originations. The second most popular income band? $250k+, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 157 $41,585,000 $264,873 $0 0.00%

    West Alabama Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 157 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 50 $24,230,000 $484,600 $0 0.00%
    White 94 $15,430,000 $164,149 $0 0.00%
    Not provided 4 $1,270,000 $317,500 $0 0.00%
    Black 9 $655,000 $72,778 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.01%

    West Alabama Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    96.82%

    West Alabama Bank & Trust has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 157 $41,585,000 $264,873

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    157 $41,585,000 $264,873

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    West Alabama Bank & Trust 1014 Washington Street Marion, AL 36756 Full Service B&M $20,670
    West Alabama Bank & Trust 119 West Pusmataha Street Butler, AL 36904 Full Service B&M $66,146
    West Alabama Bank & Trust 200 Office Park Dr, Ste 200 Birmingham, AL 35223 Full Service B&M $5,454
    West Alabama Bank & Trust 245 Main Street South Gordo, AL 35466 Full Service B&M $34,330
    West Alabama Bank & Trust 27 Courthouse Square Livingston, AL 35470 Full Service B&M $59,592
    West Alabama Bank & Trust 28827 Hwy 5 Woodstock, AL 35188 Full Service B&M $13,603
    West Alabama Bank & Trust 30330 Hwy 17 Millport, AL 35576 Full Service B&M $47,009
    West Alabama Bank & Trust 305 2nd Street Northeast Fayette, AL 35555 Full Service B&M $52,913
    West Alabama Bank & Trust 31 Mcfarland Boulevard Northport, AL 35476 Full Service B&M $91,673
    West Alabama Bank & Trust 4 3rd Avenue Northwest Aliceville, AL 35442 Full Service B&M $72,787
    West Alabama Bank & Trust 507 Main Street Ethelsville, AL 35461 Full Service B&M $7,022
    West Alabama Bank & Trust 509 First Avenue West Reform, AL 35481 Full Service B&M $111,236
    West Alabama Bank & Trust 7680 Highway 69 South Tuscaloosa, AL 35405 Full Service B&M $18,880
    West Alabama Bank & Trust 86 Court Square Carrollton, AL 35447 Full Service B&M $63,323
    West Alabama Bank & Trust Second Avenue, Northwest Aliceville, AL 35442 Limited, Drive-thru $0

    For 2021, West Alabama Bank & Trust had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $25,319
    Net interest income $20,748
    Total noninterest income $7,225
    Gross Fiduciary activities income $3
    Service charges on deposit accounts $2,065
    Trading account gains and fees $0
    Additional Noninterest Income $5,157
    Pre-tax net operating income $7,548
    Securities gains (or losses, -) $77
    Income before extraordinary items $6,236
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,236
    Minority interest net income $0
    Net income $6,236
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,172

    West Alabama Bank & Trust's gross interest income from loans was $25,319,000.
    West Alabama Bank & Trust's net interest income from loans was $20,748,000.
    West Alabama Bank & Trust's fee based income from loans was $2,065,000.
    West Alabama Bank & Trust's net income from loans was $6,236,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,571
    Provision for credit losses $2,250
    Total noninterest expense $18,175
    Salaries and employee benefits $9,421
    Premises and equipment expense $1,675
    Additional noninterest expense $7,079
    Applicable income taxes $1,389
    Net charge-offs $2,626
    Cash dividends $2,015

    West Alabama Bank & Trust's interest expense for loans was $4,571,000.
    West Alabama Bank & Trust's payroll and benefits expense were $9,421,000.
    West Alabama Bank & Trust's property, plant and equipment expenses $1,675,000.

    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 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    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 $674,869
    Deposits held in domestic offices $674,869
    Deposits by Individuals, partnerships, and corporations $612,869
    Deposits by U.S. Government $7
    Deposits by States and political subdivisions in the U.S. $60,992
    Deposits by Commercial banks and other depository institutions in U.S. $1,001
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $285,851
    Demand deposits $202,690
    Nontransaction accounts $389,018
    Money market deposit accounts (MMDAs) $94,269
    Other savings deposits (excluding MMDAs) $54,998
    Total time deposits $239,751
    Total time and savings deposits $472,179
    Noninterest-bearing deposits $202,690
    Interest-bearing deposits $472,179
    Retail deposits $599,158
    IRAs and Keogh plan accounts $29,882
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $773,500
    Cash & Balances due from depository institutions $8,702
    Interest-bearing balances $3,492
    Total securities $307,410
    Federal funds sold & reverse repurchase $29,528
    Net loans and leases $380,676
    Loan and leases loss allowance $4,438
    Trading account assets $0
    Bank premises and fixed assets $12,118
    Other real estate owned $0
    Goodwill and other intangibles $7,026
    All other assets $28,040

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $773,500
    Total Liabilities $678,777
    Total deposits $674,869
    Interest-bearing deposits $472,179
    Deposits held in domestic offices $674,869
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,908

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $380,676
    Loan and leases loss allowance $4,438
    Total loans and leases (domestic) $385,114
    All real estate loans $311,540
    Real estate loans in domestic offices $311,540
    Construction and development loans $45,032
    Residential 1-4 family construction $22,269
    Other construction, all land development and other land $22,763
    Loans secured by nonfarm nonresidential properties $111,574
    Nonfarm nonresidential secured by owner-occupied properties $76,223
    Commercial real estate & other non-farm, non-residential $35,351
    Multifamily residential real estate $18,868
    1-4 family residential loans $91,954
    Farmland loans $44,112
    Loans held in foreign offices $0
    Farm loans $11,963
    Commercial and industrial loans $47,135
    To non-U.S. addressees $0
    Loans to individuals $10,964
    Credit card loans $0
    Related Plans $902
    Consumer Auto Loans $3,573
    Other loans to individuals $6,489
    All other loans & leases $3,512
    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 $3,655
    Non 1-4 family restructured loans & leases $3,523
    Total loans and leases (foreign) $0

    West Alabama Bank & Trust had $380,676,000 of loans outstanding in 2021. $311,540,000 of loans were in real estate loans. $45,032,000 of loans were in development loans. $18,868,000 of loans were in multifamily mortgage loans. $91,954,000 of loans were in 1-4 family mortgage loans. $11,963,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,573,000 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 239 $41,185 $172,322
    Nonfarm, nonresidential loans - <$100k 92 $3,764 $40,913
    Nonfarm, nonresidential loans - $100-250k 75 $8,930 $119,067
    Nonfarm, nonresidential loans - $250k-1MM 72 $28,491 $395,708
    Commercial & Industrial, US addressed loans - <$1MM 1,050 $35,012 $33,345
    Commercial & Industrial, US addressed loans - <$100k 917 $16,011 $17,460
    Commercial & Industrial, US addressed loans - $100-250k 94 $9,893 $105,245
    Commercial & Industrial, US addressed loans - $250k-1MM 39 $9,108 $233,538
    Farmland loans - <$1MM 306 $22,826 $74,595
    Farmland loans - <$100k 214 $7,134 $33,336
    Farmland loans - $100-250k 61 $7,660 $125,574
    Farmland loans - $250k-1MM 31 $8,032 $259,097
    Agriculture operations loans - <$1MM 245 $9,497 $38,763
    Agriculture operations loans - <$100k 208 $4,007 $19,264
    Agriculture operations loans - $100-250k 24 $2,858 $119,083
    Agriculture operations loans - $250k-1MM 13 $2,632 $202,462