Banksouth Mortgage Rates, Fees & Info

Greensboro, GA

LEI: 549300EA0U825E61X330

Tax ID: 58-2267017

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Banksouth is a smaller bank specializing in Home Purchase loans. Banksouth has a high proportion of conventional loans. Their top markets include Atlanta, Savannah, Athens, Hinesville, and Rome among others. Banksouth 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.


Originations

196

Origination Dollar Volume (All Markets)

$87,930,000

Employee count

357

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 50 $33,160,000 $663,200 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 56 $19,630,000 $350,536 $0 0.00%
SAVANNAH, GA (FHA|USDA|VA) 36 $15,890,000 $441,389 $0 0.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 34 $6,080,000 $178,824 $0 0.00%
HINESVILLE, GA (FHA|USDA|VA) 1 $3,805,000 $3,805,000 $0 0.00%
ROME, GA (FHA|USDA|VA) 1 $1,635,000 $1,635,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,255,000 $1,255,000 $0 0.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $1,215,000 $1,215,000 $0 0.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 5 $1,005,000 $201,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $755,000 $755,000 $0 0.00%
Milledgeville, GA (FHA|USDA|VA) 2 $720,000 $360,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $715,000 $715,000 $0 0.00%
Cullowhee, NC (FHA|USDA|VA) 2 $680,000 $340,000 $0 0.00%
GAINESVILLE, GA (FHA|USDA|VA) 2 $490,000 $245,000 $0 0.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
Statesboro, GA (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%

Banksouth's top markets include Atlanta, Savannah, Athens, Hinesville, and Rome among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 196 $87,930,000 $448,622 $0 0.00%

For the 2021 period, Banksouth's most frequently originated loan type of loans were Conventional, with 196 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 155 $75,405,000 $486,484 $0 0.00%
Refi 37 $12,145,000 $328,243 $0 0.00%
Home Improvement 4 $380,000 $95,000 $0 0.00%

For the 2021, Banksouth's most frequently cited loan purpose of loans were Home Purchase, with 155 originations. The 2nd most popular reason of loans were Refi, with 37 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 196 $87,930,000 $448,622 $0 0.00%

For the 2021, Banksouth's most frequently cited loan length of loans were Other, with 196 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 52 $15,520,000 $298,462 $0 0.00%
$100k-200k 50 $7,260,000 $145,200 $0 0.00%
$400k-600k 29 $13,735,000 $473,621 $0 0.00%
$100,000 or less 28 $1,860,000 $66,429 $0 0.00%
$600k-1MM 19 $14,015,000 $737,632 $0 0.00%
$1MM+ 18 $35,540,000 $1,974,444 $0 0.00%

2021 saw Banksouth place emphasis on $200k-400k loans with 52 originations, totaling $15,520,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 44 $34,150,000 $776,136 $0 0.00%
$150k-250k 26 $7,280,000 $280,000 $0 0.00%
$100k-150k 24 $7,140,000 $297,500 $0 0.00%
$75k-100k 17 $4,085,000 $240,294 $0 0.00%
$50k-75k 11 $2,065,000 $187,727 $0 0.00%
$50k or less 4 $990,000 $247,500 $0 0.00%

Banksouth lent most frequently to those with incomes in the $250k+ range, with 44 originations. The second most popular income band? $150k-250k, with 26 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 196 $87,930,000 $448,622 $0 0.00%

Banksouth lent most frequently to those with DTI ratios of Exempt%, with 196 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 100 $45,340,000 $453,400 $0 0.00%
Not applicable 69 $32,015,000 $463,986 $0 0.00%
Not provided 16 $7,040,000 $440,000 $0 0.00%
American Indian 1 $1,635,000 $1,635,000 $0 0.00%
Black 6 $1,320,000 $220,000 $0 0.00%
Asian Indian 2 $290,000 $145,000 $0 0.00%
Asian 1 $225,000 $225,000 $0 0.00%
Other Asian 1 $65,000 $65,000 $0 0.00%

Approval Rates

Total approvals of all applications
97.78%

Banksouth 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
93.17%

Banksouth has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 196 $87,930,000 $448,622

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
196 $87,930,000 $448,622

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Banksouth 18 West Bryan Street Savannah, GA 31401 Full Service B&M $151,178
Banksouth 7911 Macon Highway Watkinsville, GA 30677 Full Service B&M $139,931
Banksouth 6340 Lake Oconee Parkway Greensboro, GA 30642 Full Service B&M $141,890
Banksouth 200 N East Street Greensboro, GA 30642 Full Service B&M $451,213
Banksouth 3290 Northside Parkway Atlanta, GA 30327 Full Service B&M $47,820
Banksouth 613 Stephenson Avenue Savannah, GA 31405 Full Service B&M $0

For 2021, Banksouth had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $39,859
Net interest income $36,297
Total noninterest income $85,985
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,112
Trading account gains and fees $0
Additional Noninterest Income $84,873
Pre-tax net operating income $33,518
Securities gains (or losses, -) $0
Income before extraordinary items $26,001
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $26,001
Minority interest net income $0
Net income $26,001
Sale, conversion, retirement of capital stock, net $0
Net operating income $26,001

Banksouth's gross interest income from loans was $39,859,000.
Banksouth's net interest income from loans was $36,297,000.
Banksouth's fee based income from loans was $1,112,000.
Banksouth's net income from loans was $26,001,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,562
Provision for credit losses $645
Total noninterest expense $88,119
Salaries and employee benefits $64,061
Premises and equipment expense $4,022
Additional noninterest expense $20,036
Applicable income taxes $7,517
Net charge-offs $-80
Cash dividends $8,250

Banksouth's interest expense for loans was $3,562,000.
Banksouth's payroll and benefits expense were $64,061,000.
Banksouth's property, plant and equipment expenses $4,022,000.

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 1.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $1,038,856
Deposits held in domestic offices $1,038,856
Deposits by Individuals, partnerships, and corporations $991,869
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $46,987
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 $503,591
Demand deposits $503,591
Nontransaction accounts $535,265
Money market deposit accounts (MMDAs) $391,943
Other savings deposits (excluding MMDAs) $30,241
Total time deposits $113,082
Total time and savings deposits $535,265
Noninterest-bearing deposits $315,986
Interest-bearing deposits $722,870
Retail deposits $1,004,908
IRAs and Keogh plan accounts $11,875
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,184,588
Cash & Balances due from depository institutions $256,857
Interest-bearing balances $251,530
Total securities $20,784
Federal funds sold & reverse repurchase $0
Net loans and leases $849,875
Loan and leases loss allowance $12,073
Trading account assets $0
Bank premises and fixed assets $9,783
Other real estate owned $14
Goodwill and other intangibles $7,191
All other assets $40,084

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,184,588
Total Liabilities $1,074,939
Total deposits $1,038,856
Interest-bearing deposits $722,870
Deposits held in domestic offices $1,038,856
% insured (estimated) $60
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $20,000
Subordinated debt $0
All other liabilities $16,083

Issued Loan Types

Type Value (in 000's)
Net loans and leases $849,875
Loan and leases loss allowance $12,073
Total loans and leases (domestic) $861,948
All real estate loans $807,394
Real estate loans in domestic offices $807,394
Construction and development loans $203,078
Residential 1-4 family construction $107,068
Other construction, all land development and other land $96,010
Loans secured by nonfarm nonresidential properties $195,734
Nonfarm nonresidential secured by owner-occupied properties $63,380
Commercial real estate & other non-farm, non-residential $132,354
Multifamily residential real estate $18,030
1-4 family residential loans $390,552
Farmland loans $0
Loans held in foreign offices $0
Farm loans $235
Commercial and industrial loans $48,333
To non-U.S. addressees $0
Loans to individuals $5,987
Credit card loans $0
Related Plans $593
Consumer Auto Loans $1,163
Other loans to individuals $4,231
All other loans & leases $0
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 $512
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

BankSouth had $849,875,000 of loans outstanding in 2021. $807,394,000 of loans were in real estate loans. $203,078,000 of loans were in development loans. $18,030,000 of loans were in multifamily mortgage loans. $390,552,000 of loans were in 1-4 family mortgage loans. $235,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,163,000 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 173 $49,661 $287,058
Nonfarm, nonresidential loans - <$100k 22 $1,165 $52,955
Nonfarm, nonresidential loans - $100-250k 50 $6,889 $137,780
Nonfarm, nonresidential loans - $250k-1MM 101 $41,607 $411,950
Commercial & Industrial, US addressed loans - <$1MM 257 $18,523 $72,074
Commercial & Industrial, US addressed loans - <$100k 179 $3,661 $20,453
Commercial & Industrial, US addressed loans - $100-250k 41 $4,208 $102,634
Commercial & Industrial, US addressed loans - $250k-1MM 37 $10,654 $287,946
Agriculture operations loans - <$1MM 4 $235 $58,750
Agriculture operations loans - <$100k 2 $65 $32,500
Agriculture operations loans - $100-250k 1 $53 $53,000
Agriculture operations loans - $250k-1MM 1 $117 $117,000