Evabank Mortgage Rates, Fees & Info
Eva, ALLEI: 549300FOTVC2DXJ6YD92
Tax ID: 63-0915858
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Bank Data
Review & Overview
Evabank is a smaller bank specializing in Home Purchase and Refi loans. Evabank has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Huntsville, Cullman, Decatur, and Anniston among others. We have data for 22 markets. (Some data included below & more in-depth data is available with an active subscription.)Evabank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Evabank 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 relatively high 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.
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Originations
365Origination Dollar Volume (All Markets)
$23,285,000Employee count
87Awards
EvaBank - 2019
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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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 84 | $7,240,000 | $86,190 | $2,262 | 9.11% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 47 | $3,655,000 | $77,766 | $1,852 | 9.56% |
| Cullman, AL (FHA|USDA|VA) | 59 | $3,115,000 | $52,797 | $1,373 | 9.28% |
| DECATUR, AL (FHA|USDA|VA) | 59 | $2,505,000 | $42,458 | $1,910 | 9.78% |
| Outside of Metro Areas | 19 | $925,000 | $48,684 | $2,343 | 9.97% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 6 | $920,000 | $153,333 | $3,096 | 9.97% |
| Albertville, AL (FHA|USDA|VA) | 19 | $875,000 | $46,053 | $1,765 | 9.86% |
| MOBILE, AL (FHA|USDA|VA) | 3 | $575,000 | $191,667 | $1,488 | 8.79% |
| Jasper, AL (FHA|USDA|VA) | 14 | $530,000 | $37,857 | $1,969 | 9.93% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 13 | $515,000 | $39,615 | $2,060 | 9.68% |
| Sevierville, TN (FHA|USDA|VA) | 3 | $495,000 | $165,000 | $0 | 8.62% |
| MONTGOMERY, AL (FHA|USDA|VA) | 5 | $365,000 | $73,000 | $2,200 | 9.45% |
| GADSDEN, AL (FHA|USDA|VA) | 7 | $295,000 | $42,143 | $1,977 | 10.13% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $2,993 | 9.71% |
| Scottsboro, AL (FHA|USDA|VA) | 5 | $205,000 | $41,000 | $1,533 | 9.53% |
| Fort Payne, AL (FHA|USDA|VA) | 7 | $175,000 | $25,000 | $893 | 11.00% |
| Tifton, GA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 7.99% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,480 | 9.59% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 3 | $125,000 | $41,667 | $2,741 | 10.91% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $90,000 | $45,000 | $1,739 | 9.64% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 3 | $85,000 | $28,333 | $0 | 11.59% |
| Alexander City, AL (FHA|USDA|VA) | 2 | $50,000 | $25,000 | $0 | 10.79% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 365 | $23,285,000 | $63,795 | $1,912 | 9.56% |
For 2019, Evabank's most frequently originated type of loan was Conventional, with 365 originations.
Loan Reason
For 2019, Evabank's most frequently cited loan purpose was Home Purchase, with 225 originations. The 2nd most popular reason was Refi, with 101 originations.
Loan Duration/Length
For 2019, Evabank's most frequently cited loan duration was 15 Year, with 134 originations. The 2nd most popular length was 30 Year, with 80 originations.
Origination Fees/Closing Costs
Evabank's average total fees were $2,566, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 179 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| Over 8% | 303 | $17,485,000 | $57,706 |
| 7-8% | 53 | $4,265,000 | $80,472 |
| 6-7% | 9 | $1,535,000 | $170,556 |
During 2019, Evabank's average interest rate for loans was 9.12%, while their most frequently originated rate bucket for loans was Over 8%, with 303 originations.
Loan Sizing
2019 saw Evabank place emphasis on $100,000 or less loans with 309 originations, totaling $12,405,000 in origination value.
Applicant Income
Evabank lent most frequently to those with incomes in the $50k or less range, with 188 originations. The second most popular income band? $50k-75k, with 76 originations.
Applicant Debt to Income Ratio
Evabank lent most frequently to those with DTI ratios of 20-30%, with 116 originations. The next most common DTI ratio? <20%, with 68 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications64.48%
Evabank has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination46.85%
Evabank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $15,000 | $15,000 |
| 250.0 | 19 | $525,000 | $27,632 |
| 251.5 | 9 | $235,000 | $26,111 |
| 252.0 | 3 | $55,000 | $18,333 |
| 253.0 | 3 | $115,000 | $38,333 |
| 253.5 | 3 | $75,000 | $25,000 |
| 255.0 | 1 | $35,000 | $35,000 |
| NA | 326 | $22,230,000 | $68,190 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| EvaBank | 1710 Cherokee Ave S.W. Cullman, AL 35055 | Full Service B&M | $118,219 |
| EvaBank | 2404 Danville Road Decatur, AL 35603 | Full Service B&M | $18,042 |
| EvaBank | 2915 Clairmont Avenue Birmingham, AL 35205 | Full Service B&M | $37,619 |
| EvaBank | 3210 Alabama Highway 157 Cullman, AL 35058 | Full Service B&M | $39,188 |
| EvaBank | 4113 Eva Road Eva, AL 35621 | Full Service B&M | $27,110 |
| EvaBank | 464 Highway 67 South Decatur, AL 35603 | Full Service B&M | $1,780 |
| EvaBank | 8848 Madison Boulevard Madison, AL 35758 | Full Service B&M | $15,931 |
For 2019, Evabank had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $26,424 |
| Net interest income | $22,132 |
| Total noninterest income | $784 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $274 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $510 |
| Pre-tax net operating income | $11,595 |
| Securities gains (or losses, -) | $58 |
| Income before extraordinary items | $9,276 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,276 |
| Minority interest net income | $0 |
| Net income | $9,276 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $9,229 |
Evabank's gross interest income from loans was $26,424,000.
Evabank's net interest income from loans was $22,132,000.
Evabank's fee based income from loans was $274,000.
Evabank's net income from loans was $9,276,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,292 |
| Provision for credit losses | $1,565 |
| Total noninterest expense | $9,756 |
| Salaries and employee benefits | $6,636 |
| Premises and equipment expense | $1,126 |
| Additional noninterest expense | $1,994 |
| Applicable income taxes | $2,377 |
| Net charge-offs | $2,162 |
| Cash dividends | $3,040 |
Evabank's interest expense for loans was $4,292,000.
Evabank's payroll and benefits expense were $6,636,000.
Evabank's property, plant and equipment expenses $1,126,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 4.0% |
| Real Estate loans | 4.0% |
| Construction & Land Development loans | 2.0% |
| Nonfarm, nonresidential loans | 7.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 4.0% |
| HELOC loans | 0.0% |
| All other family | 4.0% |
| Commercial & industrial loans | 3.0% |
| Personal loans | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 0.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $257,784 |
| Deposits held in domestic offices | $257,784 |
| Deposits by Individuals, partnerships, and corporations | $239,944 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $6,602 |
| Deposits by Commercial banks and other depository institutions in U.S. | $11,238 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $45,840 |
| Demand deposits | $18,531 |
| Nontransaction accounts | $211,944 |
| Money market deposit accounts (MMDAs) | $43,158 |
| Other savings deposits (excluding MMDAs) | $17,800 |
| Total time deposits | $150,986 |
| Total time and savings deposits | $239,253 |
| Noninterest-bearing deposits | $18,531 |
| Interest-bearing deposits | $239,253 |
| Retail deposits | $182,502 |
| IRAs and Keogh plan accounts | $15,047 |
| Brokered deposits | $28,498 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $382,838 |
| Cash & Balances due from depository institutions | $4,958 |
| Interest-bearing balances | $2,184 |
| Total securities | $79,659 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $287,512 |
| Loan and leases loss allowance | $5,327 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,247 |
| Other real estate owned | $854 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,608 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $382,838 |
| Total Liabilities | $279,918 |
| Total deposits | $257,784 |
| Interest-bearing deposits | $239,253 |
| Deposits held in domestic offices | $257,784 |
| % insured (estimated) | $91 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $15,000 |
| Subordinated debt | $0 |
| All other liabilities | $7,134 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $287,512 |
| Loan and leases loss allowance | $5,327 |
| Total loans and leases (domestic) | $292,839 |
| All real estate loans | $264,027 |
| Real estate loans in domestic offices | $264,027 |
| Construction and development loans | $39,643 |
| Residential 1-4 family construction | $13,602 |
| Other construction, all land development and other land | $26,041 |
| Loans secured by nonfarm nonresidential properties | $82,268 |
| Nonfarm nonresidential secured by owner-occupied properties | $42,606 |
| Commercial real estate & other non-farm, non-residential | $39,662 |
| Multifamily residential real estate | $8,479 |
| 1-4 family residential loans | $127,238 |
| Farmland loans | $6,399 |
| Loans held in foreign offices | $0 |
| Farm loans | $188 |
| Commercial and industrial loans | $9,543 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $19,080 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $722 |
| Other loans to individuals | $18,358 |
| 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 | $4,209 |
| Non 1-4 family restructured loans & leases | $427 |
| Total loans and leases (foreign) | $0 |
EvaBank had $287,512,000 of loans outstanding in 2019. $264,027,000 of loans were in real estate loans. $39,643,000 of loans were in development loans. $8,479,000 of loans were in multifamily mortgage loans. $127,238,000 of loans were in 1-4 family mortgage loans. $188,000 of loans were in farm loans. $0 of loans were in credit card loans. $722,000 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 | 136 | $22,963 | $168,846 |
| Nonfarm, nonresidential loans - <$100k | 54 | $2,543 | $47,093 |
| Nonfarm, nonresidential loans - $100-250k | 50 | $6,365 | $127,300 |
| Nonfarm, nonresidential loans - $250k-1MM | 32 | $14,055 | $439,219 |
| Commercial & Industrial, US addressed loans - <$1MM | 105 | $3,364 | $32,038 |
| Commercial & Industrial, US addressed loans - <$100k | 84 | $1,804 | $21,476 |
| Commercial & Industrial, US addressed loans - $100-250k | 16 | $1,009 | $63,063 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 5 | $551 | $110,200 |
| Farmland loans - <$1MM | 135 | $4,927 | $36,496 |
| Farmland loans - <$100k | 123 | $3,510 | $28,537 |
| Farmland loans - $100-250k | 12 | $1,417 | $118,083 |
| Agriculture operations loans - <$1MM | 11 | $188 | $17,091 |
| Agriculture operations loans - <$100k | 11 | $188 | $17,091 |