Anderson Brothers Bank Mortgage Rates, Fees & Info

Mullins, SC

LEI: 549300M4GZM7GG3EIV16

Tax ID: 57-0115230

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Mortgage Data

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

    Anderson Brothers Bank is a smaller bank specializing in Home Purchase and Refi loans. Anderson Brothers Bank has a high proportion of conventional loans. Their top markets by origination volume include: Myrtle Beach, Florence, Georgetown, Columbia, and Sumter among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Anderson Brothers 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

    390

    Origination Dollar Volume (All Markets)

    $45,760,000

    Employee count

    276

    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
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 261 $30,655,000 $117,452 $0 0.00%
    FLORENCE, SC (FHA|USDA|VA) 46 $8,210,000 $178,478 $0 0.00%
    Outside of Metro Areas 57 $4,185,000 $73,421 $0 0.00%
    Georgetown, SC (FHA|USDA|VA) 13 $1,435,000 $110,385 $0 0.00%
    COLUMBIA, SC (FHA|USDA|VA) 3 $525,000 $175,000 $0 0.00%
    SUMTER, SC (FHA|USDA|VA) 6 $510,000 $85,000 $0 0.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 3 $225,000 $75,000 $0 0.00%
    Orangeburg, SC (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    Anderson Brothers Bank's top markets include Myrtle Beach, Florence, Georgetown, Columbia, and Sumter among others.

    Their top states include:
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Anderson Brothers Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    COASTAL Federal Credit Union
    Similarity Rank: 672
    Coastal Carolina National Bank
    Similarity Rank: 756
    STATE EMPLOYEES'
    Similarity Rank: 1105
    LOCAL GOVERNMENT FEDERAL CREDIT UNION
    Similarity Rank: 1239
    Residential Mortgage Corp
    Similarity Rank: 1365
    FOUNDERS FEDERAL CREDIT UNION
    Similarity Rank: 1386
    North State Bank
    Similarity Rank: 1628
    CORNING
    Similarity Rank: 1848
    Leaders Credit Union
    Similarity Rank: 3723
    First Bank
    Similarity Rank: 4089

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 390 $45,760,000 $117,333 $0 0.00%

    For 2018, Anderson Brothers Bank's most frequently originated type of loan was Conventional, with 390 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 212 $29,290,000 $138,160 $0 0.00%
    Refi 129 $13,355,000 $103,527 $0 0.00%
    Home Improvement 26 $2,170,000 $83,462 $0 0.00%
    Other 23 $945,000 $41,087 $0 0.00%

    For 2018, Anderson Brothers Bank's most frequently cited loan purpose was Home Purchase, with 212 originations. The 2nd most popular reason was Refi, with 129 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 390 $45,760,000 $117,333 $0 0.00%

    For 2018, Anderson Brothers Bank's most frequently cited loan duration was Other, with 390 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 270 $14,790,000 $54,778 $0 0.00%
    $100k-200k 77 $11,175,000 $145,130 $0 0.00%
    $200k-400k 31 $8,455,000 $272,742 $0 0.00%
    $400k-600k 5 $2,495,000 $499,000 $0 0.00%
    $600k-1MM 5 $3,435,000 $687,000 $0 0.00%
    $1MM+ 2 $5,410,000 $2,705,000 $0 0.00%

    2018 saw Anderson Brothers Bank place emphasis on $100,000 or less loans with 270 originations, totaling $14,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 69 $3,785,000 $54,855 $0 0.00%
    $50k-75k 45 $3,195,000 $71,000 $0 0.00%
    $75k-100k 23 $1,785,000 $77,609 $0 0.00%
    $100k-150k 12 $1,290,000 $107,500 $0 0.00%
    $150k-250k 5 $345,000 $69,000 $0 0.00%

    Anderson Brothers Bank lent most frequently to those with incomes in the $50k or less range, with 69 originations. The second most popular income band? $50k-75k, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 390 $45,760,000 $117,333 $0 0.00%

    Anderson Brothers Bank lent most frequently to those with DTI ratios of Exempt%, with 390 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 275 $25,365,000 $92,236 $0 0.00%
    Not applicable 92 $18,730,000 $203,587 $0 0.00%
    Black 21 $1,335,000 $63,571 $0 0.00%
    Asian Indian 1 $195,000 $195,000 $0 0.00%
    Asian 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.01%

    Anderson Brothers 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
    97.44%

    Anderson Brothers 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 390 $45,760,000 $117,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 5 $1,295,000 $259,000
    Multifamily:Site-Built 12 $8,190,000 $682,500
    Single Family (1-4 Units):Manufactured 121 $6,915,000 $57,149
    Single Family (1-4 Units):Site-Built 252 $29,360,000 $116,508

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Anderson Brothers Bank Eighth Avenue Aynor, SC 29511 Full Service B&M $61,892
    Anderson Brothers Bank 100 E. Main Street Latta, SC 29565 Full Service B&M $11,239
    Anderson Brothers Bank 1006 Highway 301 North Dillon, SC 29536 Full Service B&M $2,323
    Anderson Brothers Bank 101 North Main Street Mullins, SC 29574 Full Service B&M $114,744
    Anderson Brothers Bank 102 North Main Street Mullins, SC 29574 Full Service B&M $3,089
    Anderson Brothers Bank 1799 Highway 17 North North Myrtle Beach, SC 29597 Full Service B&M $34,604
    Anderson Brothers Bank 201 South Main Street Hemingway, SC 29554 Full Service B&M $74,524
    Anderson Brothers Bank 2139 North Main Street, Unit F Summerville, SC 29486 Full Service B&M $3,652
    Anderson Brothers Bank 232 West Mcintyre St Mullins, SC 29574 Full Service B&M $15,643
    Anderson Brothers Bank 2500 East Hwy 76 Marion, SC 29571 Full Service B&M $31,754
    Anderson Brothers Bank 2651 Church Street Conway, SC 29526 Full Service B&M $72,137
    Anderson Brothers Bank 2711 Anges Ln Myrtle Beach, SC 29577 Full Service B&M $16,376
    Anderson Brothers Bank 2985 South Cashua Street Florence, SC 29501 Full Service B&M $10,115
    Anderson Brothers Bank 302 Highway 701 North Loris, SC 29569 Full Service B&M $19,733
    Anderson Brothers Bank 4230 East Main Street Loris, SC 29569 Full Service B&M $5,603
    Anderson Brothers Bank 4705 Oleander Drive Myrtle Beach, SC 29577 Full Service B&M $37,158
    Anderson Brothers Bank 500 East Main Street Kingstree, SC 29556 Full Service B&M $17,822
    Anderson Brothers Bank 500 Main Street Conway, SC 29528 Full Service B&M $13,742
    Anderson Brothers Bank 501 W Second Loop Road Florence, SC 29501 Full Service B&M $37,684
    Anderson Brothers Bank 706 North Fraser Street Georgetown, SC 29440 Full Service B&M $12,833
    Anderson Brothers Bank 71 Cloverleaf Drive Longs, SC 29568 Full Service B&M $24,012
    Anderson Brothers Bank 728 North Main St. Marion, SC 29571 Full Service B&M $9,575
    Anderson Brothers Bank Georgetown Road And Pine Street Johnsonville, SC 29555 Full Service B&M $32,783

    For 2018, Anderson Brothers Bank had 23 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $53,903
    Net interest income $49,995
    Total noninterest income $9,809
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,335
    Trading account gains and fees $0
    Additional Noninterest Income $6,474
    Pre-tax net operating income $14,158
    Securities gains (or losses, -) $-8
    Income before extraordinary items $11,103
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,103
    Minority interest net income $0
    Net income $11,103
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,109

    Anderson Brothers Bank's gross interest income from loans was $53,903,000.
    Anderson Brothers Bank's net interest income from loans was $49,995,000.
    Anderson Brothers Bank's fee based income from loans was $3,335,000.
    Anderson Brothers Bank's net income from loans was $11,103,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,908
    Provision for credit losses $8,850
    Total noninterest expense $36,796
    Salaries and employee benefits $18,694
    Premises and equipment expense $4,756
    Additional noninterest expense $13,346
    Applicable income taxes $3,047
    Net charge-offs $6,788
    Cash dividends $2,200

    Anderson Brothers Bank's interest expense for loans was $3,908,000.
    Anderson Brothers Bank's payroll and benefits expense were $18,694,000.
    Anderson Brothers Bank's property, plant and equipment expenses $4,756,000.

    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 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    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 $682,551
    Deposits held in domestic offices $682,551
    Deposits by Individuals, partnerships, and corporations $656,899
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $25,477
    Deposits by Commercial banks and other depository institutions in U.S. $175
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $279,204
    Demand deposits $229,555
    Nontransaction accounts $403,347
    Money market deposit accounts (MMDAs) $64,798
    Other savings deposits (excluding MMDAs) $55,486
    Total time deposits $283,063
    Total time and savings deposits $452,996
    Noninterest-bearing deposits $229,555
    Interest-bearing deposits $452,996
    Retail deposits $624,938
    IRAs and Keogh plan accounts $13,275
    Brokered deposits $11,304
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $762,088
    Cash & Balances due from depository institutions $38,643
    Interest-bearing balances $12,015
    Total securities $22,070
    Federal funds sold & reverse repurchase $11,209
    Net loans and leases $641,570
    Loan and leases loss allowance $11,712
    Trading account assets $0
    Bank premises and fixed assets $24,854
    Other real estate owned $433
    Goodwill and other intangibles $0
    All other assets $23,309

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $762,088
    Total Liabilities $689,529
    Total deposits $682,551
    Interest-bearing deposits $452,996
    Deposits held in domestic offices $682,551
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,000
    Subordinated debt $0
    All other liabilities $3,978

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $641,570
    Loan and leases loss allowance $11,712
    Total loans and leases (domestic) $653,282
    All real estate loans $383,845
    Real estate loans in domestic offices $383,845
    Construction and development loans $99,311
    Residential 1-4 family construction $35,183
    Other construction, all land development and other land $64,128
    Loans secured by nonfarm nonresidential properties $131,481
    Nonfarm nonresidential secured by owner-occupied properties $100,522
    Commercial real estate & other non-farm, non-residential $30,959
    Multifamily residential real estate $15,091
    1-4 family residential loans $132,163
    Farmland loans $5,799
    Loans held in foreign offices $0
    Farm loans $1,848
    Commercial and industrial loans $50,743
    To non-U.S. addressees $0
    Loans to individuals $215,778
    Credit card loans $0
    Related Plans $1,266
    Consumer Auto Loans $167,297
    Other loans to individuals $47,215
    All other loans & leases $1,068
    Loans to foreign governments and official institutions $0
    Other loans $535
    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 $49
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Anderson Brothers Bank had $641,570,000 of loans outstanding in 2018. $383,845,000 of loans were in real estate loans. $99,311,000 of loans were in development loans. $15,091,000 of loans were in multifamily mortgage loans. $132,163,000 of loans were in 1-4 family mortgage loans. $1,848,000 of loans were in farm loans. $0 of loans were in credit card loans. $167,297,000 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 443 $90,477 $204,237
    Nonfarm, nonresidential loans - <$100k 173 $11,534 $66,671
    Nonfarm, nonresidential loans - $100-250k 118 $17,416 $147,593
    Nonfarm, nonresidential loans - $250k-1MM 152 $61,527 $404,783
    Commercial & Industrial, US addressed loans - <$1MM 1,185 $45,526 $38,419
    Commercial & Industrial, US addressed loans - <$100k 1,050 $25,408 $24,198
    Commercial & Industrial, US addressed loans - $100-250k 107 $13,749 $128,495
    Commercial & Industrial, US addressed loans - $250k-1MM 28 $6,369 $227,464
    Farmland loans - <$1MM 54 $4,742 $87,815
    Farmland loans - <$100k 31 $1,438 $46,387
    Farmland loans - $100-250k 17 $2,169 $127,588
    Farmland loans - $250k-1MM 6 $1,135 $189,167
    Agriculture operations loans - <$1MM 53 $1,848 $34,868
    Agriculture operations loans - <$100k 48 $1,441 $30,021
    Agriculture operations loans - $100-250k 5 $407 $81,400