Arthur State Bank Mortgage Rates, Fees & Info

Union, SC

LEI: 549300DK682S26NIMG70

Tax ID: 57-0116890

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & 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 by origination volume include: Greenville, Spartanburg, Columbia, Charlotte, and Union among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Arthur State Bank 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. Arthur State Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.43%	12/16/24
30 Year Conventional Refi	6.37%	12/16/24
30 Year Cash-out Refi	6.76%	12/16/24
15 Year Conventional Purchase	6.05%	12/16/24
15 Year Conventional Refi	5.90%	12/16/24
15 Year Cash-out Refi	5.90%	12/16/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Arthur State Bank Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

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

Show all (3) awards

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
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.

Their top states include:

South Carolina (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Arthur State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

S. C. STATE FEDERAL CREDIT UNION
Similarity Rank: 408

Greenville Heritage Federal Credit Union
Similarity Rank: 435

CAROLINA FOOTHILLS
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OCEANSIDE MORTGAGE COMPANY
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GREENVILLE FEDERAL CREDIT UNION
Similarity Rank: 2736

Product Mix

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

For 2021, Arthur State Bank's most frequently originated type of loan was Conventional, with 568 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, Arthur State Bank's most frequently cited loan purpose was Home Purchase, with 210 originations. The 2nd most popular reason was 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 2021, Arthur State Bank's most frequently cited loan duration was 30 Year, with 275 originations. The 2nd most popular length was 15 Year, with 129 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	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	14	$4,930,000	$352,143
$4k-5k	9	$4,585,000	$509,444
$5k+	9	$6,375,000	$708,333

Arthur State Bank's average total fees were $3,460, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.09%, while their most frequently originated rate bucket for loans was 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
92.63%

Arthur State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
92.25%

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	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	501 North Duncan Bypass Union, SC 29379	Full Service B&M	$40,597
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