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 loans. Heritage Southeast Bank has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Cornelia, 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 an above 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.

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    Originations

    41

    Origination Dollar Volume (All Markets)

    $25,655,000

    Employee count

    309

    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) 37 $17,255,000 $466,351 $0 0.00%
    Cornelia, GA (FHA|USDA|VA) 1 $5,955,000 $5,955,000 $0 0.00%
    Outside of Metro Areas 1 $1,705,000 $1,705,000 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $740,000 $370,000 $0 0.00%
    Heritage Southeast Bank's top markets include Atlanta, Cornelia, 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 41 $25,655,000 $625,732 $0 0.00%

    For 2019, Heritage Southeast Bank's most frequently originated type of loan was Conventional, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $20,925,000 $775,000 $0 0.00%
    Refi 7 $2,755,000 $393,571 $0 0.00%
    Cash Out Refi 4 $1,140,000 $285,000 $0 0.00%
    Home Improvement 2 $720,000 $360,000 $0 0.00%
    Other 1 $115,000 $115,000 $0 0.00%

    For 2019, Heritage Southeast Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 41 $25,655,000 $625,732 $0 0.00%

    For 2019, Heritage Southeast Bank's most frequently cited loan duration was Other, with 41 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 12 $1,630,000 $135,833 $0 0.00%
    $100,000 or less 11 $725,000 $65,909 $0 0.00%
    $200k-400k 8 $2,380,000 $297,500 $0 0.00%
    $1MM+ 5 $18,325,000 $3,665,000 $0 0.00%
    $400k-600k 4 $1,930,000 $482,500 $0 0.00%
    $600k-1MM 1 $665,000 $665,000 $0 0.00%

    2019 saw Heritage Southeast Bank place emphasis on $100k-200k loans with 12 originations, totaling $1,630,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 4 $970,000 $242,500 $0 0.00%
    $50k-75k 4 $850,000 $212,500 $0 0.00%
    $50k or less 3 $335,000 $111,667 $0 0.00%
    $100k-150k 1 $145,000 $145,000 $0 0.00%
    $150k-250k 1 $585,000 $585,000 $0 0.00%

    Heritage Southeast Bank lent most frequently to those with incomes in the $250k+ range, with 4 originations. The second most popular income band? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 41 $25,655,000 $625,732 $0 0.00%

    Heritage Southeast Bank lent most frequently to those with DTI ratios of Exempt%, with 41 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 25 $21,865,000 $874,600 $0 0.00%
    White 15 $3,205,000 $213,667 $0 0.00%
    Asian 1 $585,000 $585,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.56%

    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
    95.12%

    Heritage Southeast Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 41 $25,655,000 $625,732

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $17,420,000 $2,903,333
    Single Family (1-4 Units):Site-Built 35 $8,235,000 $235,286

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Heritage Bank 101 North Main St Jonesboro, GA 30236 Full Service B&M $133,203
    Heritage Bank 1705 Highway 20 West Mcdonough, GA 30253 Full Service B&M $48,991
    Heritage Bank 203 Keys Ferry Street Mcdonough, GA 30253 Full Service B&M $66,456
    Heritage Bank 440 North Jeff Davis Drive Fayetteville, GA 30214 Full Service B&M $129,540
    Heritage Bank 822 Main Street Forest Park, GA 30297 Full Service B&M $56,186
    Heritage Bank 830 Eagles Landing Parkway, Suite 100 Stockbridge, GA 30281 Full Service B&M $61,888

    For 2019, Heritage Southeast Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $38,207
    Net interest income $32,409
    Total noninterest income $6,518
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,207
    Trading account gains and fees $0
    Additional Noninterest Income $3,311
    Pre-tax net operating income $3,881
    Securities gains (or losses, -) $-229
    Income before extraordinary items $2,581
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,581
    Minority interest net income $0
    Net income $2,581
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,761

    Heritage Southeast Bank's gross interest income from loans was $38,207,000.
    Heritage Southeast Bank's net interest income from loans was $32,409,000.
    Heritage Southeast Bank's fee based income from loans was $3,207,000.
    Heritage Southeast Bank's net income from loans was $2,581,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,798
    Provision for credit losses $1,245
    Total noninterest expense $33,801
    Salaries and employee benefits $18,081
    Premises and equipment expense $3,167
    Additional noninterest expense $12,553
    Applicable income taxes $1,071
    Net charge-offs $435
    Cash dividends $0

    Heritage Southeast Bank's interest expense for loans was $5,798,000.
    Heritage Southeast Bank's payroll and benefits expense were $18,081,000.
    Heritage Southeast Bank's property, plant and equipment expenses $3,167,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    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 $1,155,180
    Deposits held in domestic offices $1,155,180
    Deposits by Individuals, partnerships, and corporations $1,049,982
    Deposits by U.S. Government $2,126
    Deposits by States and political subdivisions in the U.S. $103,049
    Deposits by Commercial banks and other depository institutions in U.S. $23
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $330,076
    Demand deposits $154,662
    Nontransaction accounts $825,104
    Money market deposit accounts (MMDAs) $203,939
    Other savings deposits (excluding MMDAs) $289,650
    Total time deposits $331,516
    Total time and savings deposits $1,000,518
    Noninterest-bearing deposits $297,552
    Interest-bearing deposits $857,628
    Retail deposits $1,074,285
    IRAs and Keogh plan accounts $30,710
    Brokered deposits $2,399
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,336,835
    Cash & Balances due from depository institutions $173,010
    Interest-bearing balances $142,552
    Total securities $125,479
    Federal funds sold & reverse repurchase $0
    Net loans and leases $908,506
    Loan and leases loss allowance $5,946
    Trading account assets $0
    Bank premises and fixed assets $34,160
    Other real estate owned $9,293
    Goodwill and other intangibles $35,613
    All other assets $50,774

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,336,835
    Total Liabilities $1,183,439
    Total deposits $1,155,180
    Interest-bearing deposits $857,628
    Deposits held in domestic offices $1,155,180
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $12,295
    Trading liabilities $0
    Other borrowed funds $5,167
    Subordinated debt $0
    All other liabilities $10,797

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $908,506
    Loan and leases loss allowance $5,946
    Total loans and leases (domestic) $914,452
    All real estate loans $738,888
    Real estate loans in domestic offices $738,888
    Construction and development loans $135,294
    Residential 1-4 family construction $48,796
    Other construction, all land development and other land $86,498
    Loans secured by nonfarm nonresidential properties $409,818
    Nonfarm nonresidential secured by owner-occupied properties $252,642
    Commercial real estate & other non-farm, non-residential $157,176
    Multifamily residential real estate $19,784
    1-4 family residential loans $165,730
    Farmland loans $8,262
    Loans held in foreign offices $0
    Farm loans $4,334
    Commercial and industrial loans $152,289
    To non-U.S. addressees $0
    Loans to individuals $17,529
    Credit card loans $0
    Related Plans $7,832
    Consumer Auto Loans $1,884
    Other loans to individuals $7,813
    All other loans & leases $2,250
    Loans to foreign governments and official institutions $0
    Other loans $896
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $3,979
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,874
    Non 1-4 family restructured loans & leases $2,874
    Total loans and leases (foreign) $0

    Heritage Southeast Bank had $908,506,000 of loans outstanding in 2019. $738,888,000 of loans were in real estate loans. $135,294,000 of loans were in development loans. $19,784,000 of loans were in multifamily mortgage loans. $165,730,000 of loans were in 1-4 family mortgage loans. $4,334,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,884,000 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 614 $150,743 $245,510
    Nonfarm, nonresidential loans - <$100k 106 $4,382 $41,340
    Nonfarm, nonresidential loans - $100-250k 203 $27,197 $133,975
    Nonfarm, nonresidential loans - $250k-1MM 305 $119,164 $390,702
    Commercial & Industrial, US addressed loans - <$1MM 1,752 $116,873 $66,708
    Commercial & Industrial, US addressed loans - <$100k 1,202 $26,371 $21,939
    Commercial & Industrial, US addressed loans - $100-250k 348 $34,235 $98,376
    Commercial & Industrial, US addressed loans - $250k-1MM 202 $56,267 $278,550
    Farmland loans - <$1MM 62 $5,854 $94,419
    Farmland loans - <$100k 35 $1,567 $44,771
    Farmland loans - $100-250k 20 $2,354 $117,700
    Farmland loans - $250k-1MM 7 $1,933 $276,143
    Agriculture operations loans - <$1MM 102 $3,706 $36,333
    Agriculture operations loans - <$100k 85 $1,614 $18,988
    Agriculture operations loans - $100-250k 12 $1,093 $91,083
    Agriculture operations loans - $250k-1MM 5 $999 $199,800