Volunteer State Bank Mortgage Rates, Fees & Info

Portland, TN

LEI: 549300FZ8E0GLIFFYB55

Tax ID: 62-0992874

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Mortgage Data

Bank Data

Review & Overview

Volunteer State Bank is a smaller bank specializing in Home Purchase and Refi loans. Volunteer State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Nashville, Crestview, Atlanta, Tuscaloosa, and Knoxville among others. We have data for 14 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 a below average pick rate when compared to similar lenders.

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

225

Origination Dollar Volume (All Markets)

$80,975,000

Employee count

129

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) 200 $66,010,000 $330,050 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 5 $5,875,000 $1,175,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $2,330,000 $1,165,000 $0 0.00%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $1,765,000 $1,765,000 $0 0.00%
Outside of Metro Areas 4 $1,220,000 $305,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 3 $1,095,000 $365,000 $0 0.00%
Tullahoma-Manchester, TN (FHA|USDA|VA) 2 $750,000 $375,000 $0 0.00%
Murray, KY (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Volunteer State Bank's top markets include Nashville, Crestview, Atlanta, Tuscaloosa, and Knoxville among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Kentucky (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
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 225 $80,975,000 $359,889 $0 0.00%

    For 2021, Volunteer State Bank's most frequently originated type of loan was Conventional, with 225 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 116 $53,070,000 $457,500 $0 0.00%
    Refi 72 $20,560,000 $285,556 $0 0.00%
    Home Improvement 29 $5,975,000 $206,034 $0 0.00%
    Other 8 $1,370,000 $171,250 $0 0.00%

    For 2021, Volunteer State Bank's most frequently cited loan purpose was Home Purchase, with 116 originations. The 2nd most popular reason was Refi, with 72 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 225 $80,975,000 $359,889 $0 0.00%

    For 2021, Volunteer State Bank's most frequently cited loan duration was Other, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 73 $20,695,000 $283,493 $0 0.00%
    $100k-200k 59 $8,965,000 $151,949 $0 0.00%
    $100,000 or less 41 $2,535,000 $61,829 $0 0.00%
    $400k-600k 23 $10,915,000 $474,565 $0 0.00%
    $600k-1MM 15 $11,595,000 $773,000 $0 0.00%
    $1MM+ 14 $26,270,000 $1,876,429 $0 0.00%

    2021 saw Volunteer State Bank place emphasis on $200k-400k loans with 73 originations, totaling $20,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 34 $10,310,000 $303,235 $0 0.00%
    $250k+ 33 $16,495,000 $499,848 $0 0.00%
    $100k-150k 27 $6,335,000 $234,630 $0 0.00%
    $50k or less 15 $1,085,000 $72,333 $0 0.00%
    $75k-100k 15 $2,755,000 $183,667 $0 0.00%
    $50k-75k 13 $1,525,000 $117,308 $0 0.00%

    Volunteer State Bank lent most frequently to those with incomes in the $150k-250k range, with 34 originations. The second most popular income band? $250k+, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 225 $80,975,000 $359,889 $0 0.00%

    Volunteer State Bank lent most frequently to those with DTI ratios of Exempt%, with 225 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 83 $38,925,000 $468,976 $0 0.00%
    White 117 $34,565,000 $295,427 $0 0.00%
    Black 13 $3,035,000 $233,462 $0 0.00%
    Not provided 6 $2,320,000 $386,667 $0 0.00%
    Asian 5 $1,645,000 $329,000 $0 0.00%
    Other Asian 1 $485,000 $485,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.71%

    Volunteer State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.33%

    Volunteer State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 225 $80,975,000 $359,889

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    225 $80,975,000 $359,889

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Volunteer Mortgage Loan Servicing FHA mortgage Trouble during payment process 2 50.0%
    Volunteer Mortgage Loan Servicing FHA mortgage Incorrect information on your report 1 25.0%
    Volunteer Mortgage Loan Servicing FHA mortgage Struggling to pay mortgage 1 25.0%

    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 $174,298
    Volunteer State Bank 101 International Drive, Suite 100 Franklin, TN 37067 Full Service B&M $33,914
    Volunteer State Bank 1204 East Church Street Orlinda, TN 37141 Full Service B&M $16,454
    Volunteer State Bank 1553 Nashville Pike Gallatin, TN 37066 Full Service B&M $58,777
    Volunteer State Bank 2112 Memorial Blvd Springfield, TN 37172 Full Service B&M $59,297
    Volunteer State Bank 215 Centerview Dr Brentwood, TN 37027 Full Service B&M $1
    Volunteer State Bank 2240 Medical Center Parkway Murfreesboro, TN 37129 Full Service Retail $79,116
    Volunteer State Bank 2920 Highway 31 West White House, TN 37188 Full Service B&M $59,399
    Volunteer State Bank 323 East Main Street, (Corner Of Us Highway 31e And Maple Dr.) Hendersonville, TN 37075 Full Service B&M $138,694
    Volunteer State Bank 405 Long Hollow Pike Goodlettsville, TN 37072 Full Service B&M $61,681
    Volunteer State Bank 530 New Shackle Island Road Hendersonville, TN 37075 Full Service B&M $49,411
    Volunteer State Bank 554 West Main Street Gallatin, TN 37066 Full Service B&M $64,860

    For 2021, Volunteer State Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,962
    Net interest income $31,622
    Total noninterest income $6,140
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,056
    Trading account gains and fees $0
    Additional Noninterest Income $4,084
    Pre-tax net operating income $9,582
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,951
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,951
    Minority interest net income $0
    Net income $8,951
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,951

    Volunteer State Bank's gross interest income from loans was $33,962,000.
    Volunteer State Bank's net interest income from loans was $31,622,000.
    Volunteer State Bank's fee based income from loans was $2,056,000.
    Volunteer State Bank's net income from loans was $8,951,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,340
    Provision for credit losses $1,433
    Total noninterest expense $26,747
    Salaries and employee benefits $13,988
    Premises and equipment expense $2,698
    Additional noninterest expense $10,061
    Applicable income taxes $631
    Net charge-offs $-27
    Cash dividends $9,300

    Volunteer State Bank's interest expense for loans was $2,340,000.
    Volunteer State Bank's payroll and benefits expense were $13,988,000.
    Volunteer State Bank's property, plant and equipment expenses $2,698,000.

    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 0.0%
    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 $842,667
    Deposits held in domestic offices $842,667
    Deposits by Individuals, partnerships, and corporations $768,510
    Deposits by U.S. Government $959
    Deposits by States and political subdivisions in the U.S. $66,553
    Deposits by Commercial banks and other depository institutions in U.S. $6,645
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $428,324
    Demand deposits $320,299
    Nontransaction accounts $414,343
    Money market deposit accounts (MMDAs) $213,380
    Other savings deposits (excluding MMDAs) $82,820
    Total time deposits $118,143
    Total time and savings deposits $522,368
    Noninterest-bearing deposits $201,072
    Interest-bearing deposits $641,595
    Retail deposits $804,603
    IRAs and Keogh plan accounts $20,611
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $982,001
    Cash & Balances due from depository institutions $196,658
    Interest-bearing balances $182,557
    Total securities $39,173
    Federal funds sold & reverse repurchase $9,457
    Net loans and leases $612,639
    Loan and leases loss allowance $6,824
    Trading account assets $0
    Bank premises and fixed assets $35,506
    Other real estate owned $0
    Goodwill and other intangibles $63,197
    All other assets $25,371

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $982,001
    Total Liabilities $846,823
    Total deposits $842,667
    Interest-bearing deposits $641,595
    Deposits held in domestic offices $842,667
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $4,156

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $612,639
    Loan and leases loss allowance $6,824
    Total loans and leases (domestic) $619,463
    All real estate loans $535,336
    Real estate loans in domestic offices $535,336
    Construction and development loans $112,883
    Residential 1-4 family construction $50,383
    Other construction, all land development and other land $62,500
    Loans secured by nonfarm nonresidential properties $224,203
    Nonfarm nonresidential secured by owner-occupied properties $119,345
    Commercial real estate & other non-farm, non-residential $104,858
    Multifamily residential real estate $11,510
    1-4 family residential loans $180,555
    Farmland loans $6,185
    Loans held in foreign offices $0
    Farm loans $382
    Commercial and industrial loans $64,599
    To non-U.S. addressees $0
    Loans to individuals $7,713
    Credit card loans $0
    Related Plans $140
    Consumer Auto Loans $1,973
    Other loans to individuals $5,600
    All other loans & leases $11,433
    Loans to foreign governments and official institutions $0
    Other loans $10,877
    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 $1,518
    Non 1-4 family restructured loans & leases $1,518
    Total loans and leases (foreign) $0

    Volunteer State Bank had $612,639,000 of loans outstanding in 2021. $535,336,000 of loans were in real estate loans. $112,883,000 of loans were in development loans. $11,510,000 of loans were in multifamily mortgage loans. $180,555,000 of loans were in 1-4 family mortgage loans. $382,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,973,000 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 247 $75,622 $306,162
    Nonfarm, nonresidential loans - <$100k 31 $1,241 $40,032
    Nonfarm, nonresidential loans - $100-250k 55 $6,262 $113,855
    Nonfarm, nonresidential loans - $250k-1MM 161 $68,119 $423,099
    Commercial & Industrial, US addressed loans - <$1MM 701 $41,792 $59,618
    Commercial & Industrial, US addressed loans - <$100k 508 $12,437 $24,482
    Commercial & Industrial, US addressed loans - $100-250k 121 $12,398 $102,463
    Commercial & Industrial, US addressed loans - $250k-1MM 72 $16,957 $235,514
    Farmland loans - <$1MM 14 $1,920 $137,143
    Farmland loans - <$100k 5 $161 $32,200
    Farmland loans - $100-250k 5 $699 $139,800
    Farmland loans - $250k-1MM 4 $1,060 $265,000
    Agriculture operations loans - <$1MM 22 $382 $17,364
    Agriculture operations loans - <$100k 20 $332 $16,600
    Agriculture operations loans - $100-250k 2 $50 $25,000