Metro Bank Mortgage Rates, Fees & Info

Pell City, AL

LEI: 549300KI5WZF5PXKAF12

Tax ID: 62-1372975

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Mortgage Data

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

    Metro Bank is a smaller bank specializing in Home Purchase and Refi loans. Metro Bank has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Gadsden, Talladega, Anniston, and Auburn among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Metro Bank has an 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.

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

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    Originations

    227

    Origination Dollar Volume (All Markets)

    $22,735,000

    Employee count

    172

    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) 130 $14,110,000 $108,538 $0 0.00%
    GADSDEN, AL (FHA|USDA|VA) 38 $3,200,000 $84,211 $0 0.00%
    Talladega-Sylacauga, AL (FHA|USDA|VA) 22 $2,230,000 $101,364 $0 0.00%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 16 $1,480,000 $92,500 $0 0.00%
    Outside of Metro Areas 15 $1,245,000 $83,000 $0 0.00%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $190,000 $95,000 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $110,000 $55,000 $0 0.00%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Albertville, AL (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Metro Bank's top markets include Birmingham, Gadsden, Talladega, Anniston, and Auburn among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 227 $22,735,000 $100,154 $0 0.00%

    For 2018, Metro Bank's most frequently originated type of loan was Conventional, with 227 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 108 $10,860,000 $100,556 $0 0.00%
    Refi 96 $10,670,000 $111,146 $0 0.00%
    Home Improvement 13 $815,000 $62,692 $0 0.00%
    Other 10 $390,000 $39,000 $0 0.00%

    For 2018, Metro Bank's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Refi, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 227 $22,735,000 $100,154 $0 0.00%

    For 2018, Metro Bank's most frequently cited loan duration was Other, with 227 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 157 $8,365,000 $53,280 $0 0.00%
    $100k-200k 44 $6,260,000 $142,273 $0 0.00%
    $200k-400k 20 $5,150,000 $257,500 $0 0.00%
    $400k-600k 5 $2,275,000 $455,000 $0 0.00%
    $600k-1MM 1 $685,000 $685,000 $0 0.00%

    2018 saw Metro Bank place emphasis on $100,000 or less loans with 157 originations, totaling $8,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 56 $3,280,000 $58,571 $0 0.00%
    $50k-75k 36 $2,810,000 $78,056 $0 0.00%
    $75k-100k 31 $2,775,000 $89,516 $0 0.00%
    $100k-150k 26 $1,900,000 $73,077 $0 0.00%
    $150k-250k 13 $3,195,000 $245,769 $0 0.00%
    $250k+ 4 $1,370,000 $342,500 $0 0.00%

    Metro Bank lent most frequently to those with incomes in the $50k or less range, with 56 originations. The second most popular income band? $50k-75k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 227 $22,735,000 $100,154 $0 0.00%

    Metro Bank lent most frequently to those with DTI ratios of Exempt%, with 227 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 184 $17,630,000 $95,815 $0 0.00%
    Not applicable 36 $4,600,000 $127,778 $0 0.00%
    Asian 2 $240,000 $120,000 $0 0.00%
    Black 3 $175,000 $58,333 $0 0.00%
    Filipino 1 $65,000 $65,000 $0 0.00%
    Not provided 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.86%

    Metro Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.62%

    Metro Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 227 $22,735,000 $100,154

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $405,000 $135,000
    Multifamily:Site-Built 5 $1,825,000 $365,000
    Single Family (1-4 Units):Manufactured 67 $4,205,000 $62,761
    Single Family (1-4 Units):Site-Built 152 $16,300,000 $107,237

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Metropolitan Title, LLC Other type of mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Metro Bank 1164 Main Street Ragland, AL 35131 Full Service B&M $33,004
    Metro Bank 1022 Coleman St Heflin, AL 36264 Full Service B&M $78,289
    Metro Bank 1920 Martin Street South Pell City, AL 35128 Limited, Drive-thru $0
    Metro Bank 2325 Highway 77 Southside, AL 35907 Full Service B&M $49,605
    Metro Bank 2603 Moody Parkway Moody, AL 35004 Full Service B&M $49,171
    Metro Bank 35489 Ushwy 231 Ashville, AL 35953 Full Service B&M $67,167
    Metro Bank 47537 Highway 78 Lincoln, AL 35096 Full Service B&M $28,162
    Metro Bank 800 Martin Street South Pell City, AL 35128 Full Service B&M $317,307
    Metro Bank Highway 231 North & Lewis Lake Rd Pell City, AL 35125 Limited, Drive-thru $0

    For 2018, Metro Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,019
    Net interest income $27,535
    Total noninterest income $3,564
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,515
    Trading account gains and fees $0
    Additional Noninterest Income $2,049
    Pre-tax net operating income $13,180
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,556
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,556
    Minority interest net income $0
    Net income $10,556
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,556

    Metro Bank's gross interest income from loans was $31,019,000.
    Metro Bank's net interest income from loans was $27,535,000.
    Metro Bank's fee based income from loans was $1,515,000.
    Metro Bank's net income from loans was $10,556,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,484
    Provision for credit losses $475
    Total noninterest expense $17,444
    Salaries and employee benefits $11,746
    Premises and equipment expense $1,431
    Additional noninterest expense $4,267
    Applicable income taxes $2,624
    Net charge-offs $-357
    Cash dividends $2,520

    Metro Bank's interest expense for loans was $3,484,000.
    Metro Bank's payroll and benefits expense were $11,746,000.
    Metro Bank's property, plant and equipment expenses $1,431,000.

    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 3.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $607,740
    Deposits held in domestic offices $607,740
    Deposits by Individuals, partnerships, and corporations $527,313
    Deposits by U.S. Government $387
    Deposits by States and political subdivisions in the U.S. $79,223
    Deposits by Commercial banks and other depository institutions in U.S. $817
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $202,820
    Demand deposits $139,391
    Nontransaction accounts $404,920
    Money market deposit accounts (MMDAs) $121,859
    Other savings deposits (excluding MMDAs) $63,234
    Total time deposits $219,827
    Total time and savings deposits $468,349
    Noninterest-bearing deposits $139,391
    Interest-bearing deposits $468,349
    Retail deposits $572,076
    IRAs and Keogh plan accounts $57,154
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $720,556
    Cash & Balances due from depository institutions $45,200
    Interest-bearing balances $28,340
    Total securities $225,247
    Federal funds sold & reverse repurchase $16,575
    Net loans and leases $410,140
    Loan and leases loss allowance $5,720
    Trading account assets $0
    Bank premises and fixed assets $10,913
    Other real estate owned $5,647
    Goodwill and other intangibles $0
    All other assets $6,834

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $720,556
    Total Liabilities $611,024
    Total deposits $607,740
    Interest-bearing deposits $468,349
    Deposits held in domestic offices $607,740
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,284

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $410,140
    Loan and leases loss allowance $5,720
    Total loans and leases (domestic) $415,860
    All real estate loans $345,025
    Real estate loans in domestic offices $345,025
    Construction and development loans $78,173
    Residential 1-4 family construction $23,640
    Other construction, all land development and other land $54,533
    Loans secured by nonfarm nonresidential properties $146,963
    Nonfarm nonresidential secured by owner-occupied properties $84,027
    Commercial real estate & other non-farm, non-residential $62,936
    Multifamily residential real estate $16,757
    1-4 family residential loans $90,335
    Farmland loans $12,797
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $39,320
    To non-U.S. addressees $0
    Loans to individuals $16,772
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,647
    Other loans to individuals $13,125
    All other loans & leases $14,744
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Metro Bank had $410,140,000 of loans outstanding in 2018. $345,025,000 of loans were in real estate loans. $78,173,000 of loans were in development loans. $16,757,000 of loans were in multifamily mortgage loans. $90,335,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,647,000 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 466 $75,912 $162,901
    Nonfarm, nonresidential loans - <$100k 143 $5,868 $41,035
    Nonfarm, nonresidential loans - $100-250k 183 $23,229 $126,934
    Nonfarm, nonresidential loans - $250k-1MM 140 $46,815 $334,393
    Commercial & Industrial, US addressed loans - <$1MM 958 $31,573 $32,957
    Commercial & Industrial, US addressed loans - <$100k 844 $13,914 $16,486
    Commercial & Industrial, US addressed loans - $100-250k 87 $9,842 $113,126
    Commercial & Industrial, US addressed loans - $250k-1MM 27 $7,817 $289,519
    Farmland loans - <$1MM 158 $7,994 $50,595
    Farmland loans - <$100k 121 $3,379 $27,926
    Farmland loans - $100-250k 34 $3,519 $103,500
    Farmland loans - $250k-1MM 3 $1,096 $365,333