Arthur State Bank Mortgage Rates, Fees & Info

Union, SC

LEI: 549300DK682S26NIMG70

Tax ID: 57-0116890

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Arthur State Bank is a smaller bank specializing in Home Purchase and Refi loans. Arthur State Bank has a high proportion of conventional loans. Their top markets include Greenville, Spartanburg, Columbia, Charlotte, and Union among others. Arthur State Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Arthur State Bank is typically an average fee lendor.


Originations

568

Origination Dollar Volume (All Markets)

$121,930,000

Employee count

156

Awards

Arthur State Bank 30 Year Conventional Loans gold Arthur State Bank 30 Year Conventional Loans silver Arthur State Bank 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

Arthur State Bank's average 30 year fixed rate mortgage of loans were 3.09%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.06%.

Relative Fees

Arthur State Bank's average total fees for a 30 year fixed rate mortgage are $3,460.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 137 $27,295,000 $199,234 $3,314 3.07%
SPARTANBURG, SC (FHA|USDA|VA) 141 $26,915,000 $190,887 $3,416 2.93%
COLUMBIA, SC (FHA|USDA|VA) 94 $23,370,000 $248,617 $3,908 3.52%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 64 $18,180,000 $284,063 $4,263 3.06%
Union, SC (FHA|USDA|VA) 78 $10,720,000 $137,436 $2,656 3.11%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 13 $4,005,000 $308,077 $4,188 3.03%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $2,835,000 $945,000 $6,173 3.11%
Newberry, SC (FHA|USDA|VA) 10 $2,730,000 $273,000 $4,141 2.86%
Greenwood, SC (FHA|USDA|VA) 6 $1,400,000 $233,333 $3,962 2.96%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 4 $1,090,000 $272,500 $4,654 2.94%
FLORENCE, SC (FHA|USDA|VA) 5 $905,000 $181,000 $3,779 3.07%
Gaffney, SC (FHA|USDA|VA) 4 $590,000 $147,500 $3,058 3.03%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $525,000 $525,000 $5,369 2.75%
Outside of Metro Areas 3 $505,000 $168,333 $1,264 3.83%
Forest City, NC (FHA|USDA|VA) 1 $455,000 $455,000 $8,218 3.13%
WINSTON-SALEM, NC (FHA|USDA|VA) 1 $225,000 $225,000 $4,451 3.25%
Orangeburg, SC (FHA|USDA|VA) 3 $185,000 $61,667 $0 5.25%

Arthur State Bank's top markets include Greenville, Spartanburg, Columbia, Charlotte, and Union among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 568 $121,930,000 $214,665 $3,513 3.12%

For the 2021 period, Arthur State Bank's most frequently originated loan type of loans were Conventional, with 568 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 210 $51,040,000 $243,048 $3,899 3.43%
Refi 208 $43,790,000 $210,529 $3,271 2.93%
Cash Out Refi 99 $20,085,000 $202,879 $3,745 2.84%
Other 33 $4,445,000 $134,697 $2,530 3.17%
Home Improvement 18 $2,570,000 $142,778 $2,958 3.31%

For the 2021, Arthur State Bank's most frequently cited loan purpose of loans were Home Purchase, with 210 originations. The 2nd most popular reason of loans were Refi, with 208 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 275 $66,155,000 $240,564 $3,460 3.09%
15 Year 129 $20,725,000 $160,659 $3,295 2.49%
10 Year 50 $5,280,000 $105,600 $1,922 3.83%
30+ year 43 $16,225,000 $377,326 $6,128 3.07%
5 Year 31 $8,535,000 $275,323 $754 4.50%
20 Year 20 $2,700,000 $135,000 $3,062 2.94%
Other 16 $1,880,000 $117,500 $2,554 3.81%
1 Year 3 $335,000 $111,667 $0 4.75%
3 Year 1 $95,000 $95,000 $0 4.75%

For the 2021, Arthur State Bank's most frequently cited loan length of loans were 30 Year, with 275 originations. The 2nd most popular length of loans were 15 Year, with 129 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$2k-3k 173 $50,695,000 $293,035
$1k-2k 157 $22,765,000 $145,000
$<1k 146 $20,640,000 $141,370
$3k-4k 23 $9,515,000 $413,696
$5k+ 9 $6,375,000 $708,333

$3,460 of loans were Arthur State Bank's average total fees, while their most frequently occuring range of origination fees were in the $2k-3k bucket, with 173 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 205 $52,565,000 $256,415
2.5-3% 176 $38,870,000 $220,852
<2.5% 128 $23,060,000 $180,156
4-5% 36 $5,410,000 $150,278
5-6% 23 $2,025,000 $88,043

During 2021, Arthur State Bank's average interest rate of loans were 3.09%, while their most frequently originated rate bucket of loans were 3-4%, with 205 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 199 $28,885,000 $145,151 $3,012 3.13%
$200k-400k 181 $51,285,000 $283,343 $4,217 2.97%
$100,000 or less 131 $8,715,000 $66,527 $2,050 3.31%
$400k-600k 44 $21,000,000 $477,273 $5,372 3.11%
$600k-1MM 10 $7,930,000 $793,000 $7,355 3.28%
$1MM+ 3 $4,115,000 $1,371,667 $14,986 3.17%

2021 saw Arthur State Bank place emphasis on $100k-200k loans with 199 originations, totaling $28,885,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 123 $19,555,000 $158,984 $3,018 2.96%
$100k-150k 110 $27,400,000 $249,091 $3,852 2.89%
$50k or less 94 $11,450,000 $121,809 $2,649 3.00%
$75k-100k 84 $17,000,000 $202,381 $3,453 2.87%
$150k-250k 58 $20,530,000 $353,966 $4,638 2.81%
$250k+ 31 $12,995,000 $419,194 $5,494 3.02%

Arthur State Bank lent most frequently to those with incomes in the $50k-75k range, with 123 originations. The second most popular income band? $100k-150k, with 110 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 144 $30,520,000 $211,944 $3,559 2.89%
<20% 113 $20,525,000 $181,637 $3,320 2.80%
30-36% 100 $22,320,000 $223,200 $3,490 2.93%
42% 33 $8,795,000 $266,515 $3,787 3.03%
40% 25 $4,475,000 $179,000 $3,094 3.05%
41% 14 $2,700,000 $192,857 $3,030 3.02%
37% 14 $4,690,000 $335,000 $4,010 3.03%
38% 13 $2,895,000 $222,692 $3,542 3.23%
39% 12 $2,620,000 $218,333 $3,983 3.42%
43% 11 $3,495,000 $317,727 $3,935 3.12%
36% 9 $1,815,000 $201,667 $3,193 2.89%
45% 6 $1,250,000 $208,333 $3,920 2.77%
44% 6 $1,260,000 $210,000 $3,473 2.81%
47% 3 $625,000 $208,333 $4,070 2.17%
46% 2 $430,000 $215,000 $3,816 2.88%
48% 2 $1,500,000 $750,000 $7,248 2.63%
49% 1 $75,000 $75,000 $2,404 2.38%

Arthur State Bank lent most frequently to those with DTI ratios of 20-30%, with 144 originations. The next most common DTI ratio? <20%, with 113 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 461 $97,495,000 $211,486 $3,495 2.95%
Not applicable 48 $10,820,000 $225,417 $0 4.79%
Not provided 26 $7,880,000 $303,077 $4,211 2.89%
Black 24 $3,820,000 $159,167 $2,935 3.26%
Asian 9 $1,915,000 $212,778 $3,911 3.30%

Approval Rates

Total approvals of all applications
92.78%

Arthur State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
90.37%

Arthur State Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 568 $121,930,000 $214,665

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
568 $121,930,000 $214,665

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 53 $7,085,000 $133,679 $2,761 2.74%
40-60% 111 $20,495,000 $184,640 $3,456 2.85%
60-80% 234 $53,560,000 $228,889 $3,821 3.15%
80-100% 160 $40,200,000 $251,250 $3,433 3.35%
Under 20% 10 $590,000 $59,000 $2,536 3.84%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Arthur State Bank 501 North Duncan Bypass Union, SC 29379 Full Service B&M $40,597
Arthur State Bank 100 East Main Street Union, SC 29379 Full Service B&M $10,419
Arthur State Bank 100 East Main Street Union, SC 29379 Full Service B&M $139,712
Arthur State Bank 112 North Alabama Avenue Chesnee, SC 29323 Full Service B&M $12,092
Arthur State Bank 121 Sparkleberry Crossing Columbia, SC 29229 Full Service B&M $9,283
Arthur State Bank 131 S Main Street Woodruff, SC 29388 Full Service B&M $76,572
Arthur State Bank 1410 N. Pleasantburg Drive Greenville, SC 29601 Full Service B&M $9,671
Arthur State Bank 1700 Gervais Street Columbia, SC 29201 Full Service B&M $4,509
Arthur State Bank 1925 Augusta Road Greenville, SC 29601 Full Service B&M $25,115
Arthur State Bank 201 South Herlong Avenue Rock Hill, SC 29732 Full Service B&M $13,144
Arthur State Bank 205 Jacobs Highway Clinton, SC 29325 Full Service B&M $79,245
Arthur State Bank 2140 North Beltline Blvd Columbia, SC 29204 Full Service B&M $25,617
Arthur State Bank 4285 South Church Street Extention Roebuck, SC 29376 Full Service B&M $50,434
Arthur State Bank 5051 Sunset Boulevard Lexington, SC 29072 Full Service B&M $4,862
Arthur State Bank 595 North Main Street Woodruff, SC 29388 Limited, Drive-thru $3,617
Arthur State Bank 731 Laurens Rd Woodruff, SC 29388 Limited, Drive-thru $1,925
Arthur State Bank 756 East Main Street Spartanburg, SC 29302 Full Service B&M $78,154
Arthur State Bank 8770 Greenville Highway Spartanburg, SC 29304 Full Service B&M $38,532

For 2021, Arthur State Bank had 18 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $20,317
Net interest income $19,859
Total noninterest income $6,082
Gross Fiduciary activities income $1,985
Service charges on deposit accounts $1,670
Trading account gains and fees $0
Additional Noninterest Income $2,427
Pre-tax net operating income $6,680
Securities gains (or losses, -) $235
Income before extraordinary items $5,265
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,265
Minority interest net income $0
Net income $5,265
Sale, conversion, retirement of capital stock, net $0
Net operating income $5,079

Arthur State Bank's gross interest income from loans was $20,317,000.
Arthur State Bank's net interest income from loans was $19,859,000.
Arthur State Bank's fee based income from loans was $1,670,000.
Arthur State Bank's net income from loans was $5,265,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $458
Provision for credit losses $0
Total noninterest expense $19,261
Salaries and employee benefits $10,941
Premises and equipment expense $3,544
Additional noninterest expense $4,776
Applicable income taxes $1,650
Net charge-offs $49
Cash dividends $1,650

Arthur State Bank's interest expense for loans was $458,000.
Arthur State Bank's payroll and benefits expense were $10,941,000.
Arthur State Bank's property, plant and equipment expenses $3,544,000.

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 1.0%
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 $665,651
Deposits held in domestic offices $665,651
Deposits by Individuals, partnerships, and corporations $600,087
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $65,564
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $401,728
Demand deposits $195,815
Nontransaction accounts $263,923
Money market deposit accounts (MMDAs) $100,656
Other savings deposits (excluding MMDAs) $124,965
Total time deposits $38,302
Total time and savings deposits $469,836
Noninterest-bearing deposits $195,376
Interest-bearing deposits $470,275
Retail deposits $660,530
IRAs and Keogh plan accounts $16,219
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $727,349
Cash & Balances due from depository institutions $90,817
Interest-bearing balances $81,883
Total securities $175,342
Federal funds sold & reverse repurchase $0
Net loans and leases $430,545
Loan and leases loss allowance $3,176
Trading account assets $0
Bank premises and fixed assets $25,696
Other real estate owned $0
Goodwill and other intangibles $886
All other assets $4,063

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $727,349
Total Liabilities $673,406
Total deposits $665,651
Interest-bearing deposits $470,275
Deposits held in domestic offices $665,651
% insured (estimated) $78
Federal funds purchased and repurchase agreements $7,287
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $468

Issued Loan Types

Type Value (in 000's)
Net loans and leases $430,545
Loan and leases loss allowance $3,176
Total loans and leases (domestic) $433,721
All real estate loans $382,714
Real estate loans in domestic offices $382,714
Construction and development loans $19,113
Residential 1-4 family construction $9,130
Other construction, all land development and other land $9,983
Loans secured by nonfarm nonresidential properties $137,835
Nonfarm nonresidential secured by owner-occupied properties $95,479
Commercial real estate & other non-farm, non-residential $42,356
Multifamily residential real estate $1,941
1-4 family residential loans $218,997
Farmland loans $4,828
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $40,180
To non-U.S. addressees $0
Loans to individuals $6,656
Credit card loans $1,536
Related Plans $432
Consumer Auto Loans $2,305
Other loans to individuals $2,383
All other loans & leases $4,171
Loans to foreign governments and official institutions $0
Other loans $228
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 $4,685
Non 1-4 family restructured loans & leases $4,299
Total loans and leases (foreign) $0

Arthur State Bank had $430,545,000 of loans outstanding in 2021. $382,714,000 of loans were in real estate loans. $19,113,000 of loans were in development loans. $1,941,000 of loans were in multifamily mortgage loans. $218,997,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,536,000 of loans were in credit card loans. $2,305,000 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 338 $77,056 $227,976
Nonfarm, nonresidential loans - <$100k 84 $3,399 $40,464
Nonfarm, nonresidential loans - $100-250k 99 $12,505 $126,313
Nonfarm, nonresidential loans - $250k-1MM 155 $61,152 $394,529
Commercial & Industrial, US addressed loans - <$1MM 230 $22,371 $97,265
Commercial & Industrial, US addressed loans - <$100k 135 $3,239 $23,993
Commercial & Industrial, US addressed loans - $100-250k 45 $3,918 $87,067
Commercial & Industrial, US addressed loans - $250k-1MM 50 $15,214 $304,280
Farmland loans - <$1MM 10 $1,271 $127,100
Farmland loans - <$100k 3 $126 $42,000
Farmland loans - $100-250k 4 $380 $95,000
Farmland loans - $250k-1MM 3 $765 $255,000