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, Gadsden, Talladega, Anniston, and Daphne among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Metro 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.

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

194

Origination Dollar Volume (All Markets)

$24,780,000

Employee count

156

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)	116	$16,590,000	$143,017	$0	0.00%
GADSDEN, AL (FHA\|USDA\|VA)	23	$2,615,000	$113,696	$0	0.00%
Talladega-Sylacauga, AL (FHA\|USDA\|VA)	18	$1,930,000	$107,222	$0	0.00%
ANNISTON-OXFORD, AL (FHA\|USDA\|VA)	15	$1,445,000	$96,333	$0	0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	3	$1,355,000	$451,667	$0	0.00%
Outside of Metro Areas	18	$760,000	$42,222	$0	0.00%
PANAMA CITY, FL (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	0.00%

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

Their top states include:

Alabama (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	194	$24,780,000	$127,732	$0	0.00%

For 2021, Metro Bank's most frequently originated type of loan was Conventional, with 194 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	99	$14,735,000	$148,838	$0	0.00%
Refi	71	$7,775,000	$109,507	$0	0.00%
Other	14	$1,270,000	$90,714	$0	0.00%
Home Improvement	10	$1,000,000	$100,000	$0	0.00%

For 2021, Metro Bank's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Refi, with 71 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	194	$24,780,000	$127,732	$0	0.00%

For 2021, Metro Bank's most frequently cited loan duration was Other, with 194 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	109	$5,375,000	$49,312	$0	0.00%
$100k-200k	52	$7,460,000	$143,462	$0	0.00%
$200k-400k	22	$6,160,000	$280,000	$0	0.00%
$400k-600k	8	$3,630,000	$453,750	$0	0.00%
$600k-1MM	3	$2,155,000	$718,333	$0	0.00%

2021 saw Metro Bank place emphasis on $100,000 or less loans with 109 originations, totaling $5,375,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	42	$3,520,000	$83,810	$0	0.00%
$50k-75k	40	$3,200,000	$80,000	$0	0.00%
$100k-150k	25	$3,285,000	$131,400	$0	0.00%
$75k-100k	21	$2,005,000	$95,476	$0	0.00%
$150k-250k	10	$1,580,000	$158,000	$0	0.00%
$250k+	8	$2,960,000	$370,000	$0	0.00%

Metro Bank lent most frequently to those with incomes in the $50k or less range, with 42 originations. The second most popular income band? $50k-75k, with 40 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	194	$24,780,000	$127,732	$0	0.00%

Metro Bank lent most frequently to those with DTI ratios of Exempt%, with 194 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	156	$19,170,000	$122,885	$0	0.00%
Not applicable	31	$4,725,000	$152,419	$0	0.00%
Black	5	$555,000	$111,000	$0	0.00%
Not provided	1	$295,000	$295,000	$0	0.00%
Asian	1	$35,000	$35,000	$0	0.00%

Approval Rates

Total approvals of all applications
91.95%

Metro Bank has an average approval rate.

Pick Rate

Approvals leading to origination
88.14%

Metro Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	194	$24,780,000	$127,732

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	194	$24,780,000	$127,732

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Metro Bank	1022 Coleman St Heflin, AL 36264	Full Service B&M	$103,354
Metro Bank	1164 Main Street Ragland, AL 35131	Full Service B&M	$38,793
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	$68,410
Metro Bank	2505 Moody Parkway Moody, AL 35004	Full Service B&M	$74,217
Metro Bank	35489 Ushwy 231 Ashville, AL 35953	Full Service B&M	$99,948
Metro Bank	47537 Highway 78 Lincoln, AL 35096	Full Service B&M	$36,471
Metro Bank	800 Martin Street South Pell City, AL 35128	Full Service B&M	$403,729
Metro Bank	Highway 231 North & Lewis Lake Rd Pell City, AL 35125	Limited, Drive-thru	$0

For 2021, Metro Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$31,508
Net interest income	$28,872
Total noninterest income	$5,345
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,116
Trading account gains and fees	$0
Additional Noninterest Income	$4,229
Pre-tax net operating income	$14,126
Securities gains (or losses, -)	$0
Income before extraordinary items	$11,689
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$11,689
Minority interest net income	$0
Net income	$11,689
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$11,689

Metro Bank's gross interest income from loans was $31,508,000.
Metro Bank's net interest income from loans was $28,872,000.
Metro Bank's fee based income from loans was $1,116,000.
Metro Bank's net income from loans was $11,689,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,636
Provision for credit losses	$0
Total noninterest expense	$20,091
Salaries and employee benefits	$12,510
Premises and equipment expense	$1,420
Additional noninterest expense	$6,161
Applicable income taxes	$2,437
Net charge-offs	$0
Cash dividends	$2,940

Metro Bank's interest expense for loans was $2,636,000.
Metro Bank's payroll and benefits expense were $12,510,000.
Metro Bank's property, plant and equipment expenses $1,420,000.

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	$854,450
Deposits held in domestic offices	$854,450
Deposits by Individuals, partnerships, and corporations	$729,860
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$122,637
Deposits by Commercial banks and other depository institutions in U.S.	$1,953
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$355,177
Demand deposits	$265,281
Nontransaction accounts	$499,273
Money market deposit accounts (MMDAs)	$188,389
Other savings deposits (excluding MMDAs)	$109,299
Total time deposits	$201,585
Total time and savings deposits	$589,169
Noninterest-bearing deposits	$264,946
Interest-bearing deposits	$589,504
Retail deposits	$811,780
IRAs and Keogh plan accounts	$56,592
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$985,099
Cash & Balances due from depository institutions	$203,443
Interest-bearing balances	$189,693
Total securities	$298,190
Federal funds sold & reverse repurchase	$29,150
Net loans and leases	$433,684
Loan and leases loss allowance	$5,793
Trading account assets	$0
Bank premises and fixed assets	$12,098
Other real estate owned	$1,535
Goodwill and other intangibles	$0
All other assets	$6,999

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$985,099
Total Liabilities	$857,698
Total deposits	$854,450
Interest-bearing deposits	$589,504
Deposits held in domestic offices	$854,450
% insured (estimated)	$77
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,248

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$433,684
Loan and leases loss allowance	$5,793
Total loans and leases (domestic)	$439,477
All real estate loans	$379,034
Real estate loans in domestic offices	$379,034
Construction and development loans	$77,605
Residential 1-4 family construction	$35,036
Other construction, all land development and other land	$42,569
Loans secured by nonfarm nonresidential properties	$205,544
Nonfarm nonresidential secured by owner-occupied properties	$58,691
Commercial real estate & other non-farm, non-residential	$146,853
Multifamily residential real estate	$7,785
1-4 family residential loans	$80,439
Farmland loans	$7,661
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$36,984
To non-U.S. addressees	$0
Loans to individuals	$11,873
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$3,229
Other loans to individuals	$8,644
All other loans & leases	$11,586
Loans to foreign governments and official institutions	$0
Other loans	$447
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 $433,684,000 of loans outstanding in 2021. $379,034,000 of loans were in real estate loans. $77,605,000 of loans were in development loans. $7,785,000 of loans were in multifamily mortgage loans. $80,439,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,229,000 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	432	$67,174	$155,495
Nonfarm, nonresidential loans - <$100k	127	$4,927	$38,795
Nonfarm, nonresidential loans - $100-250k	177	$22,273	$125,836
Nonfarm, nonresidential loans - $250k-1MM	128	$39,974	$312,297
Commercial & Industrial, US addressed loans - <$1MM	882	$31,779	$36,031
Commercial & Industrial, US addressed loans - <$100k	763	$13,793	$18,077
Commercial & Industrial, US addressed loans - $100-250k	86	$8,306	$96,581
Commercial & Industrial, US addressed loans - $250k-1MM	33	$9,680	$293,333
Farmland loans - <$1MM	107	$6,683	$62,458
Farmland loans - <$100k	70	$2,206	$31,514
Farmland loans - $100-250k	30	$2,980	$99,333
Farmland loans - $250k-1MM	7	$1,497	$213,857