Metro Bank Mortgage Rates, Fees & Info

Pell City, AL

LEI: 549300KI5WZF5PXKAF12

Tax ID: 62-1372975

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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, 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.

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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