Volunteer State Bank Mortgage Rates, Fees & Info

Portland, TN

LEI: 549300FZ8E0GLIFFYB55

Tax ID: 62-0992874

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Volunteer State Bank is a smaller bank specializing in Refi and Home Purchase loans. Volunteer State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Crestview, Knoxville, Panama City, and Sevierville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Volunteer 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. Volunteer 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 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.

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

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    193

    Origination Dollar Volume (All Markets)

    $48,935,000

    Employee count

    248

    Awards

    Volunteer State Bank 30 Year Conventional Loans gold Volunteer State Bank 30 Year Conventional Loans bronze
    Show all (2) 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
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 184 $47,000,000 $255,435 $1,747 6.02%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $455,000 $455,000 $8,463 6.70%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $435,000 $435,000 $0 6.25%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $410,000 $205,000 $0 5.63%
    Outside of Metro Areas 1 $235,000 $235,000 $0 5.50%
    Sevierville, TN (FHA|USDA|VA) 1 $145,000 $145,000 $0 5.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 6.25%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $85,000 $85,000 $1,985 5.85%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.00%
    Volunteer State Bank's top markets include Nashville, Crestview, Knoxville, Panama City, and Sevierville among others.

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

    • Similar Lenders

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

    KELLEY MORTGAGE, LLC
    Similarity Rank: 412
    US COMMUNITY
    Similarity Rank: 555
    Southeast Financial Credit Union
    Similarity Rank: 742
    THE TENNESSEE CREDIT UNION
    Similarity Rank: 750
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1228
    Volunteer State Bank
    Similarity Rank: 1728
    Listerhill Credit Union
    Similarity Rank: 1824
    The Farmers Bank
    Similarity Rank: 2013
    First Farmers and Merchants Bank
    Similarity Rank: 2338
    FIRST EQUITY MORTGAGE INCORPORATED
    Similarity Rank: 2548

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 193 $48,935,000 $253,549 $1,878 6.02%

    For 2018, Volunteer State Bank's most frequently originated type of loan was Conventional, with 193 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 96 $25,270,000 $263,229 $912 6.05%
    Home Purchase 88 $22,210,000 $252,386 $3,081 5.98%
    Home Improvement 8 $1,130,000 $141,250 $1,301 6.02%
    Other 1 $325,000 $325,000 $1,065 5.60%

    For 2018, Volunteer State Bank's most frequently cited loan purpose was Refi, with 96 originations. The 2nd most popular reason was Home Purchase, with 88 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 45 $13,375,000 $297,222 $1,534 5.82%
    Other 45 $16,205,000 $360,111 $436 5.94%
    1 Year 32 $9,170,000 $286,563 $1,065 5.80%
    30 Year 29 $6,235,000 $215,000 $2,631 6.59%
    15 Year 14 $1,720,000 $122,857 $866 6.06%
    10 Year 13 $1,305,000 $100,385 $911 6.39%
    3 Year 9 $585,000 $65,000 $0 5.72%
    5 Year 6 $340,000 $56,667 $343 5.90%

    For 2018, Volunteer State Bank's most frequently cited loan duration was 20 Year, with 45 originations. The 2nd most popular length was Other, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 38 $4,050,000 $106,579
    $1k-2k 9 $1,365,000 $151,667
    $4k-5k 4 $2,190,000 $547,500
    $2k-3k 1 $185,000 $185,000
    $3k-4k 1 $315,000 $315,000

    Volunteer State Bank's average total fees were $2,631, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 38 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 118 $33,590,000 $284,661
    6-7% 54 $12,950,000 $239,815
    7-8% 15 $1,195,000 $79,667
    4-5% 5 $1,045,000 $209,000
    Over 8% 1 $155,000 $155,000

    During 2018, Volunteer State Bank's average interest rate for loans was 6.59%, while their most frequently originated rate bucket for loans was 5-6%, with 118 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $3,775,000 $56,343 $1,149 6.20%
    $100k-200k 52 $7,750,000 $149,038 $1,978 6.01%
    $200k-400k 38 $10,580,000 $278,421 $1,805 5.83%
    $400k-600k 21 $9,935,000 $473,095 $5,545 5.93%
    $600k-1MM 8 $6,270,000 $783,750 $6,679 5.86%
    $1MM+ 7 $10,625,000 $1,517,857 $0 5.75%

    2018 saw Volunteer State Bank place emphasis on $100,000 or less loans with 67 originations, totaling $3,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 35 $15,475,000 $442,143 $5,400 5.88%
    $50k or less 30 $2,430,000 $81,000 $1,143 6.36%
    $100k-150k 25 $3,665,000 $146,600 $2,060 5.99%
    $50k-75k 22 $2,470,000 $112,273 $1,722 6.31%
    $150k-250k 14 $3,530,000 $252,143 $958 5.84%
    $75k-100k 13 $2,175,000 $167,308 $1,589 6.46%

    Volunteer State Bank lent most frequently to those with incomes in the $250k+ range, with 35 originations. The second most popular income band? $50k or less, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 28 $6,690,000 $238,929 $1,831 5.94%
    20-30% 20 $2,930,000 $146,500 $992 6.25%
    <20% 18 $2,410,000 $133,889 $2,518 6.24%
    50-60% 11 $2,005,000 $182,273 $2,907 6.11%
    30-36% 9 $1,425,000 $158,333 $1,699 6.52%
    43% 6 $900,000 $150,000 $629 6.02%
    41% 5 $785,000 $157,000 $557 6.34%
    39% 5 $795,000 $159,000 $1,412 6.44%
    42% 5 $425,000 $85,000 $1,123 6.61%
    36% 4 $470,000 $117,500 $0 5.81%
    44% 3 $705,000 $235,000 $2,698 6.52%
    37% 2 $250,000 $125,000 $2,515 6.08%
    40% 2 $190,000 $95,000 $2,698 5.60%
    45% 2 $510,000 $255,000 $0 6.25%
    38% 2 $1,000,000 $500,000 $4,893 6.15%
    49% 1 $715,000 $715,000 $0 5.75%
    47% 1 $455,000 $455,000 $7,848 5.25%
    48% 1 $215,000 $215,000 $0 6.00%

    Volunteer State Bank lent most frequently to those with DTI ratios of >60%, with 28 originations. The next most common DTI ratio? 20-30%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 128 $27,570,000 $215,391 $1,952 6.11%
    Not applicable 53 $19,155,000 $361,415 $0 5.74%
    Black 9 $1,835,000 $203,889 $739 6.16%
    Not provided 3 $375,000 $125,000 $1,211 6.25%

    Approval Rates

    Total approvals of all applications
    94.98%

    Volunteer State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.75%

    Volunteer State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 193 $48,935,000 $253,549

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $470,000 $235,000
    Multifamily:Site-Built 6 $7,150,000 $1,191,667
    Single Family (1-4 Units):Manufactured 29 $2,435,000 $83,966
    Single Family (1-4 Units):Site-Built 156 $38,880,000 $249,231

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $5,620,000 $175,625 $967 6.13%
    40-60% 29 $6,735,000 $232,241 $1,363 5.87%
    60-80% 93 $25,085,000 $269,731 $2,413 6.00%
    80-100% 26 $10,110,000 $388,846 $2,878 5.84%
    Over 100% 1 $295,000 $295,000 $0 5.75%
    Under 20% 10 $420,000 $42,000 $604 6.68%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Volunteer Mortgage Loan Servicing FHA mortgage Trouble during payment process 1 50.0%
    Volunteer Mortgage Loan Servicing Other type of mortgage Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Volunteer State Bank 101 Highway 52 West Portland, TN 37148 Full Service B&M $169,722
    Volunteer State Bank 1204 East Church Street Orlinda, TN 37141 Full Service B&M $12,822
    Volunteer State Bank 1553 Nashville Pike Gallatin, TN 37066 Full Service B&M $19,190
    Volunteer State Bank 2112 Memorial Blvd Springfield, TN 37172 Full Service B&M $38,802
    Volunteer State Bank 2240 Medical Center Parkway Murfreesboro, TN 37129 Full Service Retail $32,127
    Volunteer State Bank 2920 Highway 31 West White House, TN 37188 Full Service B&M $36,872
    Volunteer State Bank 323 East Main Street Hendersonville, TN 37075 Full Service B&M $113,590
    Volunteer State Bank 405 Long Hollow Pike Goodlettsville, TN 37072 Full Service B&M $37,762
    Volunteer State Bank 530 New Shackle Island Road Hendersonville, TN 37075 Full Service B&M $28,346
    Volunteer State Bank 554 West Main Street Gallatin, TN 37066 Full Service B&M $39,477

    For 2018, Volunteer State Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,412
    Net interest income $26,240
    Total noninterest income $20,588
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,172
    Trading account gains and fees $0
    Additional Noninterest Income $18,416
    Pre-tax net operating income $11,562
    Securities gains (or losses, -) $-591
    Income before extraordinary items $10,376
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,376
    Minority interest net income $0
    Net income $10,376
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,937

    Volunteer State Bank's gross interest income from loans was $31,412,000.
    Volunteer State Bank's net interest income from loans was $26,240,000.
    Volunteer State Bank's fee based income from loans was $2,172,000.
    Volunteer State Bank's net income from loans was $10,376,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,172
    Provision for credit losses $1,172
    Total noninterest expense $34,094
    Salaries and employee benefits $19,335
    Premises and equipment expense $3,445
    Additional noninterest expense $11,314
    Applicable income taxes $595
    Net charge-offs $106
    Cash dividends $7,368

    Volunteer State Bank's interest expense for loans was $5,172,000.
    Volunteer State Bank's payroll and benefits expense were $19,335,000.
    Volunteer State Bank's property, plant and equipment expenses $3,445,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 4.0%
    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 $545,444
    Deposits held in domestic offices $545,444
    Deposits by Individuals, partnerships, and corporations $490,963
    Deposits by U.S. Government $3,552
    Deposits by States and political subdivisions in the U.S. $26,327
    Deposits by Commercial banks and other depository institutions in U.S. $24,602
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $201,919
    Demand deposits $132,255
    Nontransaction accounts $343,525
    Money market deposit accounts (MMDAs) $95,038
    Other savings deposits (excluding MMDAs) $45,861
    Total time deposits $202,626
    Total time and savings deposits $413,189
    Noninterest-bearing deposits $132,255
    Interest-bearing deposits $413,189
    Retail deposits $448,413
    IRAs and Keogh plan accounts $15,923
    Brokered deposits $67,929
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $696,286
    Cash & Balances due from depository institutions $52,225
    Interest-bearing balances $9,718
    Total securities $1,232
    Federal funds sold & reverse repurchase $0
    Net loans and leases $591,213
    Loan and leases loss allowance $6,543
    Trading account assets $0
    Bank premises and fixed assets $30,155
    Other real estate owned $826
    Goodwill and other intangibles $5,535
    All other assets $15,100

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $696,287
    Total Liabilities $629,944
    Total deposits $545,444
    Interest-bearing deposits $413,189
    Deposits held in domestic offices $545,444
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $5,155
    Trading liabilities $0
    Other borrowed funds $62,000
    Subordinated debt $0
    All other liabilities $17,345

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $591,213
    Loan and leases loss allowance $6,543
    Total loans and leases (domestic) $597,756
    All real estate loans $514,731
    Real estate loans in domestic offices $514,731
    Construction and development loans $99,163
    Residential 1-4 family construction $39,182
    Other construction, all land development and other land $59,981
    Loans secured by nonfarm nonresidential properties $208,861
    Nonfarm nonresidential secured by owner-occupied properties $115,033
    Commercial real estate & other non-farm, non-residential $93,828
    Multifamily residential real estate $9,300
    1-4 family residential loans $191,029
    Farmland loans $6,378
    Loans held in foreign offices $0
    Farm loans $643
    Commercial and industrial loans $76,033
    To non-U.S. addressees $0
    Loans to individuals $5,714
    Credit card loans $0
    Related Plans $208
    Consumer Auto Loans $1,371
    Other loans to individuals $4,135
    All other loans & leases $635
    Loans to foreign governments and official institutions $0
    Other loans $119
    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 $1,858
    Non 1-4 family restructured loans & leases $1,732
    Total loans and leases (foreign) $0

    Volunteer State Bank had $591,213,000 of loans outstanding in 2018. $514,731,000 of loans were in real estate loans. $99,163,000 of loans were in development loans. $9,300,000 of loans were in multifamily mortgage loans. $191,029,000 of loans were in 1-4 family mortgage loans. $643,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,371,000 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 261 $78,897 $302,287
    Nonfarm, nonresidential loans - <$100k 45 $2,475 $55,000
    Nonfarm, nonresidential loans - $100-250k 59 $8,401 $142,390
    Nonfarm, nonresidential loans - $250k-1MM 157 $68,021 $433,255
    Commercial & Industrial, US addressed loans - <$1MM 606 $43,917 $72,470
    Commercial & Industrial, US addressed loans - <$100k 413 $9,939 $24,065
    Commercial & Industrial, US addressed loans - $100-250k 99 $10,085 $101,869
    Commercial & Industrial, US addressed loans - $250k-1MM 94 $23,893 $254,181
    Farmland loans - <$1MM 13 $1,901 $146,231
    Farmland loans - <$100k 4 $148 $37,000
    Farmland loans - $100-250k 5 $812 $162,400
    Farmland loans - $250k-1MM 4 $941 $235,250
    Agriculture operations loans - <$1MM 37 $643 $17,378
    Agriculture operations loans - <$100k 35 $497 $14,200
    Agriculture operations loans - $100-250k 2 $146 $73,000