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

Jump to:

Mortgage Data

Bank 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.

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

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