Metro Bank Mortgage Rates, Fees & Info

Pell City, AL

LEI: 549300KI5WZF5PXKAF12

Tax ID: 62-1372975

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

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, Crestview, Talladega, Gadsden, and Anniston among others. We have data for 10 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.

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Originations

184

Origination Dollar Volume (All Markets)

$23,610,000

Employee count

160

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)	104	$13,710,000	$131,827	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	2	$2,570,000	$1,285,000	$0	0.00%
Talladega-Sylacauga, AL (FHA\|USDA\|VA)	20	$1,890,000	$94,500	$0	0.00%
GADSDEN, AL (FHA\|USDA\|VA)	22	$1,860,000	$84,545	$0	0.00%
Outside of Metro Areas	17	$1,415,000	$83,235	$0	0.00%
ANNISTON-OXFORD, AL (FHA\|USDA\|VA)	12	$880,000	$73,333	$0	0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	4	$730,000	$182,500	$0	0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	1	$295,000	$295,000	$0	0.00%
Sevierville, TN (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	0.00%

Metro Bank's top markets include Birmingham, Crestview, Talladega, Gadsden, and Anniston among others.

Their top states include:

Alabama (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	184	$23,610,000	$128,315	$0	0.00%

For 2020, Metro Bank's most frequently originated type of loan was Conventional, with 184 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	89	$15,265,000	$171,517	$0	0.00%
Refi	74	$7,400,000	$100,000	$0	0.00%
Home Improvement	12	$490,000	$40,833	$0	0.00%
Other	9	$455,000	$50,556	$0	0.00%

For 2020, Metro Bank's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 74 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	184	$23,610,000	$128,315	$0	0.00%

For 2020, Metro Bank's most frequently cited loan duration was Other, with 184 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	120	$5,590,000	$46,583	$0	0.00%
$100k-200k	34	$4,660,000	$137,059	$0	0.00%
$200k-400k	21	$5,485,000	$261,190	$0	0.00%
$1MM+	3	$4,345,000	$1,448,333	$0	0.00%
$400k-600k	3	$1,315,000	$438,333	$0	0.00%
$600k-1MM	3	$2,215,000	$738,333	$0	0.00%

2020 saw Metro Bank place emphasis on $100,000 or less loans with 120 originations, totaling $5,590,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	45	$3,525,000	$78,333	$0	0.00%
$50k or less	45	$2,695,000	$59,889	$0	0.00%
$75k-100k	24	$1,870,000	$77,917	$0	0.00%
$100k-150k	15	$1,925,000	$128,333	$0	0.00%
$150k-250k	11	$2,625,000	$238,636	$0	0.00%
$250k+	4	$1,770,000	$442,500	$0	0.00%

Metro Bank lent most frequently to those with incomes in the $50k-75k range, with 45 originations. The second most popular income band? $50k or less, with 45 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	184	$23,610,000	$128,315	$0	0.00%

Metro Bank lent most frequently to those with DTI ratios of Exempt%, with 184 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	157	$16,675,000	$106,210	$0	0.00%
Not applicable	16	$6,110,000	$381,875	$0	0.00%
Other Asian	1	$405,000	$405,000	$0	0.00%
Black	8	$340,000	$42,500	$0	0.00%
Asian	1	$45,000	$45,000	$0	0.00%
Not provided	1	$35,000	$35,000	$0	0.00%

Approval Rates

Total approvals of all applications
89.80%

Metro Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.43%

Metro Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	184	$23,610,000	$128,315

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	5	$2,255,000	$451,000
Multifamily:Site-Built	4	$540,000	$135,000
Single Family (1-4 Units):Manufactured	63	$3,165,000	$50,238
Single Family (1-4 Units):Site-Built	112	$17,650,000	$157,589

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
Metropolitan Home Mortgage, Inc.	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	4	66.7%
Metropolitan Home Mortgage, Inc.	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	16.7%
Metropolitan Home Mortgage, Inc.	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	16.7%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Metro Bank	1022 Coleman St Heflin, AL 36264	Full Service B&M	$91,245
Metro Bank	1164 Main Street Ragland, AL 35131	Full Service B&M	$37,058
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	$59,639
Metro Bank	2505 Moody Parkway Moody, AL 35004	Full Service B&M	$63,234
Metro Bank	35489 Ushwy 231 Ashville, AL 35953	Full Service B&M	$76,161
Metro Bank	47537 Highway 78 Lincoln, AL 35096	Full Service B&M	$35,349
Metro Bank	800 Martin Street South Pell City, AL 35128	Full Service B&M	$349,681
Metro Bank	Highway 231 North & Lewis Lake Rd Pell City, AL 35125	Limited, Drive-thru	$0

For 2020, Metro Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$32,248
Net interest income	$27,859
Total noninterest income	$4,829
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,114
Trading account gains and fees	$0
Additional Noninterest Income	$3,715
Pre-tax net operating income	$14,376
Securities gains (or losses, -)	$0
Income before extraordinary items	$11,379
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$11,379
Minority interest net income	$0
Net income	$11,379
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$11,379

Metro Bank's gross interest income from loans was $32,248,000.
Metro Bank's net interest income from loans was $27,859,000.
Metro Bank's fee based income from loans was $1,114,000.
Metro Bank's net income from loans was $11,379,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$4,389
Provision for credit losses	$800
Total noninterest expense	$17,512
Salaries and employee benefits	$11,640
Premises and equipment expense	$1,393
Additional noninterest expense	$4,479
Applicable income taxes	$2,997
Net charge-offs	$385
Cash dividends	$11,130

Metro Bank's interest expense for loans was $4,389,000.
Metro Bank's payroll and benefits expense were $11,640,000.
Metro Bank's property, plant and equipment expenses $1,393,000.

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	2.0%
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	$753,154
Deposits held in domestic offices	$753,154
Deposits by Individuals, partnerships, and corporations	$649,804
Deposits by U.S. Government	$383
Deposits by States and political subdivisions in the U.S.	$101,737
Deposits by Commercial banks and other depository institutions in U.S.	$1,230
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$304,361
Demand deposits	$222,164
Nontransaction accounts	$448,793
Money market deposit accounts (MMDAs)	$149,653
Other savings deposits (excluding MMDAs)	$85,877
Total time deposits	$213,264
Total time and savings deposits	$530,990
Noninterest-bearing deposits	$222,363
Interest-bearing deposits	$530,791
Retail deposits	$713,740
IRAs and Keogh plan accounts	$56,745
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$875,053
Cash & Balances due from depository institutions	$167,340
Interest-bearing balances	$150,217
Total securities	$198,986
Federal funds sold & reverse repurchase	$29,125
Net loans and leases	$456,297
Loan and leases loss allowance	$5,793
Trading account assets	$0
Bank premises and fixed assets	$11,632
Other real estate owned	$4,746
Goodwill and other intangibles	$0
All other assets	$6,927

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$875,053
Total Liabilities	$755,790
Total deposits	$753,154
Interest-bearing deposits	$530,791
Deposits held in domestic offices	$753,154
% insured (estimated)	$79
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$2,636

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$456,297
Loan and leases loss allowance	$5,793
Total loans and leases (domestic)	$462,090
All real estate loans	$380,236
Real estate loans in domestic offices	$380,236
Construction and development loans	$85,525
Residential 1-4 family construction	$30,542
Other construction, all land development and other land	$54,983
Loans secured by nonfarm nonresidential properties	$185,791
Nonfarm nonresidential secured by owner-occupied properties	$83,784
Commercial real estate & other non-farm, non-residential	$102,007
Multifamily residential real estate	$12,950
1-4 family residential loans	$86,539
Farmland loans	$9,431
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$49,397
To non-U.S. addressees	$0
Loans to individuals	$12,970
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$3,122
Other loans to individuals	$9,848
All other loans & leases	$19,486
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 $456,297,000 of loans outstanding in 2020. $380,236,000 of loans were in real estate loans. $85,525,000 of loans were in development loans. $12,950,000 of loans were in multifamily mortgage loans. $86,539,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,122,000 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	452	$73,673	$162,993
Nonfarm, nonresidential loans - <$100k	133	$5,218	$39,233
Nonfarm, nonresidential loans - $100-250k	181	$24,006	$132,630
Nonfarm, nonresidential loans - $250k-1MM	138	$44,449	$322,094
Commercial & Industrial, US addressed loans - <$1MM	974	$33,892	$34,797
Commercial & Industrial, US addressed loans - <$100k	845	$15,260	$18,059
Commercial & Industrial, US addressed loans - $100-250k	98	$9,661	$98,582
Commercial & Industrial, US addressed loans - $250k-1MM	31	$8,971	$289,387
Farmland loans - <$1MM	132	$8,344	$63,212
Farmland loans - <$100k	95	$2,841	$29,905
Farmland loans - $100-250k	29	$2,947	$101,621
Farmland loans - $250k-1MM	8	$2,556	$319,500