Anderson Brothers Bank Mortgage Rates, Fees & Info

Mullins, SC

LEI: 549300M4GZM7GG3EIV16

Tax ID: 57-0115230

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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, Sumter, and Asheville among others. We have data for 10 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

430

Origination Dollar Volume (All Markets)

$77,230,000

Employee count

354

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)	293	$58,835,000	$200,802	$0	0.00%
FLORENCE, SC (FHA\|USDA\|VA)	46	$7,220,000	$156,957	$0	0.00%
Outside of Metro Areas	61	$3,855,000	$63,197	$0	0.00%
Georgetown, SC (FHA\|USDA\|VA)	18	$2,920,000	$162,222	$0	0.00%
SUMTER, SC (FHA\|USDA\|VA)	5	$2,385,000	$477,000	$0	0.00%
ASHEVILLE, NC (FHA\|USDA\|VA)	2	$630,000	$315,000	$0	0.00%
COLUMBIA, SC (FHA\|USDA\|VA)	2	$620,000	$310,000	$0	0.00%
Lumberton, NC (FHA\|USDA\|VA)	1	$405,000	$405,000	$0	0.00%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	1	$265,000	$265,000	$0	0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	0.00%

Anderson Brothers Bank's top markets include Myrtle Beach, Florence, Georgetown, Sumter, and Asheville among others.

Their top states include:

South Carolina (FHA|USDA|VA)

North Carolina (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.

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Corporate Investors Mortgage Group, Inc.
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CORNING
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Coastal Carolina National Bank
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South Atlantic Bank
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	430	$77,230,000	$179,605	$0	0.00%

For 2021, Anderson Brothers Bank's most frequently originated type of loan was Conventional, with 430 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	298	$55,130,000	$185,000	$0	0.00%
Refi	107	$20,135,000	$188,178	$0	0.00%
Home Improvement	14	$1,370,000	$97,857	$0	0.00%
Other	11	$595,000	$54,091	$0	0.00%

For 2021, Anderson Brothers Bank's most frequently cited loan purpose was Home Purchase, with 298 originations. The 2nd most popular reason was Refi, with 107 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	430	$77,230,000	$179,605	$0	0.00%

For 2021, Anderson Brothers Bank's most frequently cited loan duration was Other, with 430 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	222	$13,110,000	$59,054	$0	0.00%
$100k-200k	112	$15,750,000	$140,625	$0	0.00%
$200k-400k	52	$14,110,000	$271,346	$0	0.00%
$400k-600k	20	$9,320,000	$466,000	$0	0.00%
$600k-1MM	13	$9,995,000	$768,846	$0	0.00%
$1MM+	11	$14,945,000	$1,358,636	$0	0.00%

2021 saw Anderson Brothers Bank place emphasis on $100,000 or less loans with 222 originations, totaling $13,110,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	74	$4,760,000	$64,324	$0	0.00%
$50k-75k	69	$6,965,000	$100,942	$0	0.00%
$75k-100k	55	$6,565,000	$119,364	$0	0.00%
$150k-250k	38	$6,370,000	$167,632	$0	0.00%
$100k-150k	32	$4,370,000	$136,563	$0	0.00%
$250k+	30	$11,610,000	$387,000	$0	0.00%

Anderson Brothers Bank lent most frequently to those with incomes in the $50k or less range, with 74 originations. The second most popular income band? $50k-75k, with 69 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	430	$77,230,000	$179,605	$0	0.00%

Anderson Brothers Bank lent most frequently to those with DTI ratios of Exempt%, with 430 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	271	$36,645,000	$135,221	$0	0.00%
Not applicable	123	$35,555,000	$289,065	$0	0.00%
Black	24	$1,940,000	$80,833	$0	0.00%
Asian	4	$1,870,000	$467,500	$0	0.00%
Not provided	6	$1,150,000	$191,667	$0	0.00%
Native Hawaiian or Islander	1	$45,000	$45,000	$0	0.00%
American Indian	1	$25,000	$25,000	$0	0.00%

Approval Rates

Total approvals of all applications
97.80%

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
96.51%

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	430	$77,230,000	$179,605

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	430	$77,230,000	$179,605

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Anderson Brothers Bank	728 North Main St. Marion, SC 29571	Full Service B&M	$30,651
Anderson Brothers Bank	100 E. Main Street Latta, SC 29565	Full Service B&M	$17,399
Anderson Brothers Bank	1006 Highway 301 North Dillon, SC 29536	Full Service B&M	$17,575
Anderson Brothers Bank	101 North Main Street Mullins, SC 29574	Full Service B&M	$106,722
Anderson Brothers Bank	1010 London Street Myrtle Beach, SC 29577	Full Service B&M	$147,651
Anderson Brothers Bank	102 North Main Street Mullins, SC 29574	Full Service B&M	$4,438
Anderson Brothers Bank	11975 Highway 17 Byp Murrells Inlet, SC 29576	Full Service B&M	$14,771
Anderson Brothers Bank	1799 Highway 17 North North Myrtle Beach, SC 29597	Full Service B&M	$59,046
Anderson Brothers Bank	2001 Hoffmeyer Rd. Suite A Florence, SC 29501	Full Service B&M	$7,898
Anderson Brothers Bank	201 South Main Street Hemingway, SC 29554	Full Service B&M	$105,148
Anderson Brothers Bank	2139 North Main Street, Unit F Summerville, SC 29486	Full Service B&M	$11,371
Anderson Brothers Bank	232 West Mcintyre St Mullins, SC 29574	Full Service B&M	$20,889
Anderson Brothers Bank	2500 East Hwy 76 Marion, SC 29571	Full Service B&M	$46,513
Anderson Brothers Bank	2651 Church Street Conway, SC 29526	Full Service B&M	$164,549
Anderson Brothers Bank	2711 Anges Ln Myrtle Beach, SC 29577	Full Service B&M	$64,435
Anderson Brothers Bank	2985 South Cashua Street Florence, SC 29501	Full Service B&M	$16,454
Anderson Brothers Bank	302 Highway 701 North Loris, SC 29569	Full Service B&M	$33,659
Anderson Brothers Bank	4230 East Main Street Loris, SC 29569	Full Service B&M	$9,548
Anderson Brothers Bank	500 East Main Street Kingstree, SC 29556	Full Service B&M	$13,702
Anderson Brothers Bank	500 Main Street Conway, SC 29528	Full Service B&M	$23,576
Anderson Brothers Bank	501 W Second Loop Road Florence, SC 29501	Full Service B&M	$52,958
Anderson Brothers Bank	706 North Fraser Street Georgetown, SC 29440	Full Service B&M	$21,547
Anderson Brothers Bank	71 Cloverleaf Drive Longs, SC 29568	Full Service B&M	$46,130
Anderson Brothers Bank	Eighth Avenue Aynor, SC 29511	Full Service B&M	$81,816
Anderson Brothers Bank	Georgetown Road And Pine Street Johnsonville, SC 29555	Full Service B&M	$33,980

For 2021, Anderson Brothers Bank had 25 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$85,880
Net interest income	$83,058
Total noninterest income	$16,789
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$3,220
Trading account gains and fees	$0
Additional Noninterest Income	$13,569
Pre-tax net operating income	$37,028
Securities gains (or losses, -)	$0
Income before extraordinary items	$28,608
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$28,608
Minority interest net income	$0
Net income	$28,608
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$28,608

Anderson Brothers Bank's gross interest income from loans was $85,880,000.
Anderson Brothers Bank's net interest income from loans was $83,058,000.
Anderson Brothers Bank's fee based income from loans was $3,220,000.
Anderson Brothers Bank's net income from loans was $28,608,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,822
Provision for credit losses	$6,650
Total noninterest expense	$56,169
Salaries and employee benefits	$27,536
Premises and equipment expense	$6,607
Additional noninterest expense	$22,026
Applicable income taxes	$8,420
Net charge-offs	$5,305
Cash dividends	$5,000

Anderson Brothers Bank's interest expense for loans was $2,822,000.
Anderson Brothers Bank's payroll and benefits expense were $27,536,000.
Anderson Brothers Bank's property, plant and equipment expenses $6,607,000.

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	$1,273,762
Deposits held in domestic offices	$1,273,762
Deposits by Individuals, partnerships, and corporations	$1,193,362
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$78,368
Deposits by Commercial banks and other depository institutions in U.S.	$2,032
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$606,053
Demand deposits	$459,831
Nontransaction accounts	$667,709
Money market deposit accounts (MMDAs)	$265,096
Other savings deposits (excluding MMDAs)	$124,089
Total time deposits	$278,524
Total time and savings deposits	$813,931
Noninterest-bearing deposits	$445,232
Interest-bearing deposits	$828,530
Retail deposits	$1,198,256
IRAs and Keogh plan accounts	$13,052
Brokered deposits	$5,101
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,410,854
Cash & Balances due from depository institutions	$242,516
Interest-bearing balances	$217,637
Total securities	$126,889
Federal funds sold & reverse repurchase	$1
Net loans and leases	$979,400
Loan and leases loss allowance	$17,176
Trading account assets	$0
Bank premises and fixed assets	$32,549
Other real estate owned	$1,473
Goodwill and other intangibles	$0
All other assets	$28,026

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,410,854
Total Liabilities	$1,284,443
Total deposits	$1,273,762
Interest-bearing deposits	$828,530
Deposits held in domestic offices	$1,273,762
% insured (estimated)	$84
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$5,000
Subordinated debt	$0
All other liabilities	$5,681

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$979,400
Loan and leases loss allowance	$17,176
Total loans and leases (domestic)	$996,576
All real estate loans	$561,928
Real estate loans in domestic offices	$561,928
Construction and development loans	$170,643
Residential 1-4 family construction	$58,380
Other construction, all land development and other land	$112,263
Loans secured by nonfarm nonresidential properties	$176,835
Nonfarm nonresidential secured by owner-occupied properties	$120,642
Commercial real estate & other non-farm, non-residential	$56,193
Multifamily residential real estate	$19,574
1-4 family residential loans	$191,010
Farmland loans	$3,866
Loans held in foreign offices	$0
Farm loans	$165
Commercial and industrial loans	$71,908
To non-U.S. addressees	$0
Loans to individuals	$361,418
Credit card loans	$0
Related Plans	$1,253
Consumer Auto Loans	$284,562
Other loans to individuals	$75,603
All other loans & leases	$1,157
Loans to foreign governments and official institutions	$0
Other loans	$537
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	$10
Non 1-4 family restructured loans & leases	$10
Total loans and leases (foreign)	$0

Anderson Brothers Bank had $979,400,000 of loans outstanding in 2021. $561,928,000 of loans were in real estate loans. $170,643,000 of loans were in development loans. $19,574,000 of loans were in multifamily mortgage loans. $191,010,000 of loans were in 1-4 family mortgage loans. $165,000 of loans were in farm loans. $0 of loans were in credit card loans. $284,562,000 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	509	$108,363	$212,894
Nonfarm, nonresidential loans - <$100k	175	$12,403	$70,874
Nonfarm, nonresidential loans - $100-250k	154	$20,877	$135,565
Nonfarm, nonresidential loans - $250k-1MM	180	$75,083	$417,128
Commercial & Industrial, US addressed loans - <$1MM	1,726	$64,613	$37,435
Commercial & Industrial, US addressed loans - <$100k	1,593	$40,832	$25,632
Commercial & Industrial, US addressed loans - $100-250k	97	$13,594	$140,144
Commercial & Industrial, US addressed loans - $250k-1MM	36	$10,187	$282,972
Farmland loans - <$1MM	40	$2,854	$71,350
Farmland loans - <$100k	23	$941	$40,913
Farmland loans - $100-250k	13	$1,397	$107,462
Farmland loans - $250k-1MM	4	$516	$129,000
Agriculture operations loans - <$1MM	11	$164	$14,909
Agriculture operations loans - <$100k	11	$164	$14,909