Heritage Southeast Bank Mortgage Rates, Fees & Info

Jonesboro, GA

LEI: 549300KZLDOQY0W4XL83

Tax ID: 58-0659995

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Mortgage Data

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

    Heritage Southeast Bank is a smaller bank specializing in Home Purchase and Refi loans. Heritage Southeast Bank has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Dalton, Macon, and Panama City among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Heritage Southeast 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. Heritage Southeast Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

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    Originations

    34

    Origination Dollar Volume (All Markets)

    $15,490,000

    Employee count

    111

    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
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 31 $10,805,000 $348,548 $5,622 5.52%
    DALTON, GA (FHA|USDA|VA) 1 $4,005,000 $4,005,000 $0 5.50%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $375,000 $375,000 $5,874 5.25%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 5.25%
    Heritage Southeast Bank's top markets include Atlanta, Dalton, Macon, and Panama City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 34 $15,490,000 $455,588 $5,650 5.51%

    For 2018, Heritage Southeast Bank's most frequently originated type of loan was Conventional, with 34 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 19 $10,315,000 $542,895 $7,618 5.39%
    Refi 10 $3,810,000 $381,000 $3,190 5.63%
    Home Improvement 3 $355,000 $118,333 $0 5.67%
    Cash Out Refi 2 $1,010,000 $505,000 $0 5.75%

    For 2018, Heritage Southeast Bank's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 10 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 13 $9,525,000 $732,692 $0 5.67%
    30 Year 8 $2,140,000 $267,500 $6,233 4.88%
    20 Year 4 $2,820,000 $705,000 $0 5.63%
    10 Year 3 $455,000 $151,667 $0 5.75%
    5 Year 3 $195,000 $65,000 $989 5.83%
    15 Year 2 $240,000 $120,000 $0 5.75%
    3 Year 1 $115,000 $115,000 $0 5.75%

    For 2018, Heritage Southeast Bank's most frequently cited loan duration was Other, with 13 originations. The 2nd most popular length was 30 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3 $185,000 $61,667
    $2k-3k 2 $390,000 $195,000
    $3k-4k 2 $570,000 $285,000
    $5k+ 2 $1,010,000 $505,000

    Heritage Southeast Bank's average total fees were $6,233, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 18 $8,610,000 $478,333
    4-5% 11 $3,085,000 $280,455
    6-7% 5 $3,795,000 $759,000

    During 2018, Heritage Southeast Bank's average interest rate for loans was 4.88%, while their most frequently originated rate bucket for loans was 5-6%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 11 $1,535,000 $139,545 $5,370 5.48%
    $200k-400k 10 $2,730,000 $273,000 $6,326 5.45%
    $100,000 or less 6 $340,000 $56,667 $1,631 5.46%
    $600k-1MM 4 $3,120,000 $780,000 $16,240 5.56%
    $1MM+ 3 $7,765,000 $2,588,333 $0 5.83%

    2018 saw Heritage Southeast Bank place emphasis on $100k-200k loans with 11 originations, totaling $1,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 5 $1,165,000 $233,000 $5,874 5.35%
    $150k-250k 5 $855,000 $171,000 $4,706 5.45%
    $250k+ 5 $1,825,000 $365,000 $16,240 5.55%
    $50k or less 4 $420,000 $105,000 $3,046 5.13%
    $75k-100k 2 $570,000 $285,000 $6,553 4.88%

    Heritage Southeast Bank lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $150k-250k, with 5 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 12 $3,200,000 $266,667 $16,240 5.50%
    37% 2 $270,000 $135,000 $4,075 4.75%
    30-36% 1 $235,000 $235,000 $4,112 5.00%
    20-30% 1 $155,000 $155,000 $4,706 4.75%
    39% 1 $335,000 $335,000 $8,994 4.75%
    43% 1 $375,000 $375,000 $5,874 5.25%
    50-60% 1 $95,000 $95,000 $1,786 5.00%

    Heritage Southeast Bank lent most frequently to those with DTI ratios of <20%, with 12 originations. The next most common DTI ratio? 37%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 12 $10,560,000 $880,000 $0 5.85%
    White 22 $4,930,000 $224,091 $5,650 5.32%

    Approval Rates

    Total approvals of all applications
    95.12%

    Heritage Southeast Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    85.29%

    Heritage Southeast Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 34 $15,490,000 $455,588

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $9,325,000 $1,865,000
    Single Family (1-4 Units):Manufactured 1 $45,000 $45,000
    Single Family (1-4 Units):Site-Built 28 $6,120,000 $218,571

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $4,160,000 $2,080,000 $4,706 5.13%
    40-60% 10 $4,270,000 $427,000 $3,512 5.53%
    60-80% 19 $6,355,000 $334,474 $11,057 5.54%
    80-100% 1 $335,000 $335,000 $8,994 4.75%
    Over 100% 1 $355,000 $355,000 $0 6.75%
    Under 20% 1 $15,000 $15,000 $989 5.00%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Heritage Bank 101 North Main St Jonesboro, GA 30236 Full Service B&M $116,444
    Heritage Bank 203 Keys Ferry Street Mcdonough, GA 30253 Full Service B&M $54,408
    Heritage Bank 440 North Jeff Davis Drive Fayetteville, GA 30214 Full Service B&M $110,312
    Heritage Bank 822 Main Street Forest Park, GA 30297 Full Service B&M $54,854
    Heritage Bank 830 Eagles Landing Parkway, Suite 100 Stockbridge, GA 30281 Full Service B&M $51,918
    Heritage Bank 860 Hampton Road Mcdonough, GA 30253 Full Service B&M $38,733

    For 2018, Heritage Southeast Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,976
    Net interest income $20,525
    Total noninterest income $2,802
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,376
    Trading account gains and fees $0
    Additional Noninterest Income $1,426
    Pre-tax net operating income $5,954
    Securities gains (or losses, -) $187
    Income before extraordinary items $4,977
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,977
    Minority interest net income $0
    Net income $4,977
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,825

    Heritage Southeast Bank's gross interest income from loans was $22,976,000.
    Heritage Southeast Bank's net interest income from loans was $20,525,000.
    Heritage Southeast Bank's fee based income from loans was $1,376,000.
    Heritage Southeast Bank's net income from loans was $4,977,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,451
    Provision for credit losses $618
    Total noninterest expense $16,755
    Salaries and employee benefits $9,854
    Premises and equipment expense $1,782
    Additional noninterest expense $5,119
    Applicable income taxes $1,164
    Net charge-offs $14
    Cash dividends $450

    Heritage Southeast Bank's interest expense for loans was $2,451,000.
    Heritage Southeast Bank's payroll and benefits expense were $9,854,000.
    Heritage Southeast Bank's property, plant and equipment expenses $1,782,000.

    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 0.0%
    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 $427,861
    Deposits held in domestic offices $427,861
    Deposits by Individuals, partnerships, and corporations $389,503
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,383
    Deposits by Commercial banks and other depository institutions in U.S. $11,975
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $33,196
    Demand deposits $22,908
    Nontransaction accounts $394,665
    Money market deposit accounts (MMDAs) $105,611
    Other savings deposits (excluding MMDAs) $161,302
    Total time deposits $127,751
    Total time and savings deposits $404,953
    Noninterest-bearing deposits $113,091
    Interest-bearing deposits $314,770
    Retail deposits $397,640
    IRAs and Keogh plan accounts $12,742
    Brokered deposits $2,889
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $513,063
    Cash & Balances due from depository institutions $26,847
    Interest-bearing balances $22,369
    Total securities $47,917
    Federal funds sold & reverse repurchase $0
    Net loans and leases $402,684
    Loan and leases loss allowance $5,136
    Trading account assets $0
    Bank premises and fixed assets $13,859
    Other real estate owned $2,923
    Goodwill and other intangibles $0
    All other assets $18,833

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $513,063
    Total Liabilities $465,473
    Total deposits $427,861
    Interest-bearing deposits $314,770
    Deposits held in domestic offices $427,861
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $12,815
    Trading liabilities $0
    Other borrowed funds $22,197
    Subordinated debt $0
    All other liabilities $2,600

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $402,684
    Loan and leases loss allowance $5,136
    Total loans and leases (domestic) $407,820
    All real estate loans $317,791
    Real estate loans in domestic offices $317,791
    Construction and development loans $51,465
    Residential 1-4 family construction $28,010
    Other construction, all land development and other land $23,455
    Loans secured by nonfarm nonresidential properties $198,963
    Nonfarm nonresidential secured by owner-occupied properties $125,624
    Commercial real estate & other non-farm, non-residential $73,339
    Multifamily residential real estate $15,720
    1-4 family residential loans $51,288
    Farmland loans $355
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $79,036
    To non-U.S. addressees $0
    Loans to individuals $8,985
    Credit card loans $0
    Related Plans $7,543
    Consumer Auto Loans $379
    Other loans to individuals $1,063
    All other loans & leases $2,623
    Loans to foreign governments and official institutions $0
    Other loans $2,623
    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 $15
    Non 1-4 family restructured loans & leases $15
    Total loans and leases (foreign) $0

    Heritage Southeast Bank had $402,684,000 of loans outstanding in 2018. $317,791,000 of loans were in real estate loans. $51,465,000 of loans were in development loans. $15,720,000 of loans were in multifamily mortgage loans. $51,288,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $379,000 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 321 $53,824 $167,676
    Nonfarm, nonresidential loans - <$100k 56 $2,761 $49,304
    Nonfarm, nonresidential loans - $100-250k 120 $14,500 $120,833
    Nonfarm, nonresidential loans - $250k-1MM 145 $36,563 $252,159
    Commercial & Industrial, US addressed loans - <$1MM 654 $50,918 $77,856
    Commercial & Industrial, US addressed loans - <$100k 412 $10,814 $26,248
    Commercial & Industrial, US addressed loans - $100-250k 153 $14,918 $97,503
    Commercial & Industrial, US addressed loans - $250k-1MM 89 $25,186 $282,989
    Farmland loans - <$1MM 4 $355 $88,750
    Farmland loans - <$100k 2 $7 $3,500
    Farmland loans - $100-250k 1 $74 $74,000
    Farmland loans - $250k-1MM 1 $274 $274,000