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, Hinesville, Savannah, Cornelia, and St. Marys among others. We have data for 19 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.

    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

    191

    Origination Dollar Volume (All Markets)

    $46,055,000

    Employee count

    288

    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) 54 $12,840,000 $237,778 $0 0.00%
    HINESVILLE, GA (FHA|USDA|VA) 43 $8,035,000 $186,860 $0 0.00%
    SAVANNAH, GA (FHA|USDA|VA) 21 $6,525,000 $310,714 $0 0.00%
    Cornelia, GA (FHA|USDA|VA) 2 $4,650,000 $2,325,000 $0 0.00%
    St. Marys, GA (FHA|USDA|VA) 4 $3,590,000 $897,500 $0 0.00%
    BRUNSWICK, GA (FHA|USDA|VA) 16 $1,820,000 $113,750 $0 0.00%
    Jesup, GA (FHA|USDA|VA) 22 $1,590,000 $72,273 $0 0.00%
    Outside of Metro Areas 7 $1,555,000 $222,143 $0 0.00%
    Waycross, GA (FHA|USDA|VA) 8 $1,300,000 $162,500 $0 0.00%
    JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,115,000 $371,667 $0 0.00%
    MACON-BIBB COUNTY, GA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Statesboro, GA (FHA|USDA|VA) 3 $355,000 $118,333 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
    Thomasville, GA (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    Milledgeville, GA (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    Palatka, FL (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Heritage Southeast Bank's top markets include Atlanta, Hinesville, Savannah, Cornelia, and St. Marys 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 191 $46,055,000 $241,126 $0 0.00%

    For 2020, Heritage Southeast Bank's most frequently originated type of loan was Conventional, with 191 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 89 $21,675,000 $243,539 $0 0.00%
    Refi 87 $22,625,000 $260,057 $0 0.00%
    Home Improvement 8 $1,010,000 $126,250 $0 0.00%
    Other 5 $575,000 $115,000 $0 0.00%
    Cash Out Refi 2 $170,000 $85,000 $0 0.00%

    For 2020, Heritage Southeast Bank's most frequently cited loan purpose was Home Purchase, with 89 originations. The 2nd most popular reason was Refi, with 87 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 191 $46,055,000 $241,126 $0 0.00%

    For 2020, Heritage Southeast Bank's most frequently cited loan duration was Other, with 191 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 90 $5,310,000 $59,000 $0 0.00%
    $100k-200k 43 $5,905,000 $137,326 $0 0.00%
    $200k-400k 24 $6,750,000 $281,250 $0 0.00%
    $400k-600k 20 $9,750,000 $487,500 $0 0.00%
    $600k-1MM 8 $6,140,000 $767,500 $0 0.00%
    $1MM+ 6 $12,200,000 $2,033,333 $0 0.00%

    2020 saw Heritage Southeast Bank place emphasis on $100,000 or less loans with 90 originations, totaling $5,310,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $1,935,000 $71,667 $0 0.00%
    $50k-75k 25 $3,055,000 $122,200 $0 0.00%
    $100k-150k 20 $3,310,000 $165,500 $0 0.00%
    $75k-100k 19 $3,085,000 $162,368 $0 0.00%
    $250k+ 12 $4,130,000 $344,167 $0 0.00%
    $150k-250k 8 $4,320,000 $540,000 $0 0.00%

    Heritage Southeast Bank lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 191 $46,055,000 $241,126 $0 0.00%

    Heritage Southeast Bank lent most frequently to those with DTI ratios of Exempt%, with 191 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 79 $26,085,000 $330,190 $0 0.00%
    White 93 $16,365,000 $175,968 $0 0.00%
    Not provided 6 $1,840,000 $306,667 $0 0.00%
    Black 9 $975,000 $108,333 $0 0.00%
    Asian 3 $455,000 $151,667 $0 0.00%
    Asian Indian 1 $335,000 $335,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.21%

    Heritage Southeast Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.01%

    Heritage Southeast Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 191 $46,055,000 $241,126

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $65,000 $65,000
    Multifamily:Site-Built 13 $13,685,000 $1,052,692
    Single Family (1-4 Units):Manufactured 32 $1,810,000 $56,563
    Single Family (1-4 Units):Site-Built 145 $30,495,000 $210,310

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Heritage Southeast Bank 101 North Main St Jonesboro, GA 30236 Full Service B&M $150,503
    Heritage Southeast Bank 103 Scranton Connector Brunswick, GA 31525 Full Service B&M $31,833
    Heritage Southeast Bank 10328 Deerwood Park Blvd. Jacksonville, FL 32256 Full Service B&M $46,750
    Heritage Southeast Bank 1142 North Way Darien, GA 31305 Full Service B&M $15,273
    Heritage Southeast Bank 13792 Cleveland St E Nahunta, GA 31553 Full Service B&M $24,531
    Heritage Southeast Bank 16 Railroad Street East Pembroke, GA 31321 Full Service B&M $18,533
    Heritage Southeast Bank 1705 Highway 20 West Mcdonough, GA 30253 Full Service B&M $59,163
    Heritage Southeast Bank 203 Keys Ferry Street Mcdonough, GA 30253 Full Service B&M $80,256
    Heritage Southeast Bank 228 Main Street Blackshear, GA 31516 Full Service B&M $65,568
    Heritage Southeast Bank 248 Butler Avenue Midway, GA 31320 Full Service B&M $31,870
    Heritage Southeast Bank 292 South Macon Street Jesup, GA 31545 Full Service B&M $48,213
    Heritage Southeast Bank 300 Finance Ave Peachtree City, GA 30269 Full Service B&M $5,815
    Heritage Southeast Bank 300 South Main Street Hinesville, GA 31313 Full Service B&M $181,524
    Heritage Southeast Bank 32 Wurzburg St Fort Stewart, GA 31314 Full Service B&M $19,609
    Heritage Southeast Bank 392 Charlie Smith, Sr. Highway Saint Marys, GA 31558 Full Service B&M $20,732
    Heritage Southeast Bank 440 North Jeff Davis Drive Fayetteville, GA 30214 Full Service B&M $146,035
    Heritage Southeast Bank 4955 Windward Parkway Alpharetta, GA 30004 Full Service B&M $75,680
    Heritage Southeast Bank 506 Fair Road Statesboro, GA 30458 Full Service B&M $17,806
    Heritage Southeast Bank 56 East Dame Avenue Homerville, GA 31634 Full Service B&M $21,855
    Heritage Southeast Bank 60 W Cypress St Ludowici, GA 31316 Full Service B&M $35,409
    Heritage Southeast Bank 620 Stephenson Avenue Savannah, GA 31405 Full Service B&M $34,031
    Heritage Southeast Bank 810 Plant Avenue Waycross, GA 31501 Full Service B&M $30,014
    Heritage Southeast Bank 822 Main Street Forest Park, GA 30297 Full Service B&M $68,097
    Heritage Southeast Bank 830 Eagles Landing Parkway, Suite 100 Stockbridge, GA 30281 Full Service B&M $67,563

    For 2020, Heritage Southeast Bank had 24 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $56,577
    Net interest income $50,025
    Total noninterest income $15,115
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $5,923
    Trading account gains and fees $0
    Additional Noninterest Income $9,192
    Pre-tax net operating income $5,925
    Securities gains (or losses, -) $1,313
    Income before extraordinary items $5,742
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,742
    Minority interest net income $0
    Net income $5,742
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,704

    Heritage Southeast Bank's gross interest income from loans was $56,577,000.
    Heritage Southeast Bank's net interest income from loans was $50,025,000.
    Heritage Southeast Bank's fee based income from loans was $5,923,000.
    Heritage Southeast Bank's net income from loans was $5,742,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,552
    Provision for credit losses $9,350
    Total noninterest expense $49,865
    Salaries and employee benefits $27,518
    Premises and equipment expense $5,555
    Additional noninterest expense $16,792
    Applicable income taxes $1,496
    Net charge-offs $1,179
    Cash dividends $0

    Heritage Southeast Bank's interest expense for loans was $6,552,000.
    Heritage Southeast Bank's payroll and benefits expense were $27,518,000.
    Heritage Southeast Bank's property, plant and equipment expenses $5,555,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    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 1.0%
    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 $1,366,441
    Deposits held in domestic offices $1,366,441
    Deposits by Individuals, partnerships, and corporations $1,279,142
    Deposits by U.S. Government $186
    Deposits by States and political subdivisions in the U.S. $87,085
    Deposits by Commercial banks and other depository institutions in U.S. $28
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $377,946
    Demand deposits $190,890
    Nontransaction accounts $988,495
    Money market deposit accounts (MMDAs) $272,184
    Other savings deposits (excluding MMDAs) $437,487
    Total time deposits $278,825
    Total time and savings deposits $1,175,551
    Noninterest-bearing deposits $419,361
    Interest-bearing deposits $947,080
    Retail deposits $1,305,357
    IRAs and Keogh plan accounts $28,279
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,571,758
    Cash & Balances due from depository institutions $218,625
    Interest-bearing balances $189,533
    Total securities $169,329
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,053,915
    Loan and leases loss allowance $14,117
    Trading account assets $0
    Bank premises and fixed assets $37,165
    Other real estate owned $2,593
    Goodwill and other intangibles $36,507
    All other assets $53,624

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,571,758
    Total Liabilities $1,390,366
    Total deposits $1,366,441
    Interest-bearing deposits $947,080
    Deposits held in domestic offices $1,366,441
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $13,187
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $10,738

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,053,915
    Loan and leases loss allowance $14,117
    Total loans and leases (domestic) $1,068,032
    All real estate loans $780,237
    Real estate loans in domestic offices $780,237
    Construction and development loans $142,513
    Residential 1-4 family construction $34,960
    Other construction, all land development and other land $107,553
    Loans secured by nonfarm nonresidential properties $444,697
    Nonfarm nonresidential secured by owner-occupied properties $259,592
    Commercial real estate & other non-farm, non-residential $185,105
    Multifamily residential real estate $14,171
    1-4 family residential loans $171,153
    Farmland loans $7,703
    Loans held in foreign offices $0
    Farm loans $2,231
    Commercial and industrial loans $269,476
    To non-U.S. addressees $0
    Loans to individuals $16,307
    Credit card loans $0
    Related Plans $7,549
    Consumer Auto Loans $2,231
    Other loans to individuals $6,527
    All other loans & leases $2,631
    Loans to foreign governments and official institutions $0
    Other loans $877
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $5,400
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $6,004
    Non 1-4 family restructured loans & leases $5,865
    Total loans and leases (foreign) $0

    Heritage Southeast Bank had $1,053,915,000 of loans outstanding in 2020. $780,237,000 of loans were in real estate loans. $142,513,000 of loans were in development loans. $14,171,000 of loans were in multifamily mortgage loans. $171,153,000 of loans were in 1-4 family mortgage loans. $2,231,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,231,000 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 660 $164,080 $248,606
    Nonfarm, nonresidential loans - <$100k 101 $4,009 $39,693
    Nonfarm, nonresidential loans - $100-250k 219 $28,114 $128,374
    Nonfarm, nonresidential loans - $250k-1MM 340 $131,957 $388,109
    Commercial & Industrial, US addressed loans - <$1MM 2,692 $201,986 $75,032
    Commercial & Industrial, US addressed loans - <$100k 1,834 $50,639 $27,611
    Commercial & Industrial, US addressed loans - $100-250k 539 $59,332 $110,078
    Commercial & Industrial, US addressed loans - $250k-1MM 319 $92,015 $288,448
    Farmland loans - <$1MM 53 $5,150 $97,170
    Farmland loans - <$100k 27 $1,178 $43,630
    Farmland loans - $100-250k 19 $2,325 $122,368
    Farmland loans - $250k-1MM 7 $1,647 $235,286
    Agriculture operations loans - <$1MM 71 $2,231 $31,423
    Agriculture operations loans - <$100k 62 $1,177 $18,984
    Agriculture operations loans - $100-250k 6 $380 $63,333
    Agriculture operations loans - $250k-1MM 3 $674 $224,667