The Exchange Bank Of Alabama Mortgage Rates, Fees & Info

Altoona, AL

LEI: 549300OPZE52Y4J4QP25

Tax ID: 63-0073830

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Mortgage Data

Bank Data

Review & Overview

The Exchange Bank Of Alabama is a smaller bank specializing in Home Purchase loans. The Exchange Bank Of Alabama has a high proportion of conventional loans. Their top markets by origination volume include: Gadsden, Pensacola, Sevierville, Crestview, and Birmingham among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Exchange Bank Of Alabama 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.

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Originations

66

Origination Dollar Volume (All Markets)

$9,640,000

Employee count

73

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
GADSDEN, AL (FHA|USDA|VA) 57 $6,705,000 $117,632 $1,928 5.40%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $975,000 $975,000 $16,706 5.00%
Sevierville, TN (FHA|USDA|VA) 2 $580,000 $290,000 $0 5.50%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $535,000 $535,000 $0 4.95%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $295,000 $295,000 $0 5.40%
PANAMA CITY, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 5.40%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $185,000 $185,000 $3,496 4.90%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 5.50%
Outside of Metro Areas 1 $65,000 $65,000 $1,042 4.80%
The Exchange Bank Of Alabama's top markets include Gadsden, Pensacola, Sevierville, Crestview, and Birmingham among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 66 $9,640,000 $146,061 $2,461 5.37%

    For 2018, The Exchange Bank Of Alabama's most frequently originated type of loan was Conventional, with 66 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 39 $7,225,000 $185,256 $3,872 5.27%
    Refi 15 $1,925,000 $128,333 $1,170 5.51%
    Home Improvement 6 $240,000 $40,000 $927 5.81%
    Other 6 $250,000 $41,667 $1,147 5.23%

    For 2018, The Exchange Bank Of Alabama's most frequently cited loan purpose was Home Purchase, with 39 originations. The 2nd most popular reason was Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 34 $5,120,000 $150,588 $2,608 5.21%
    5 Year 12 $1,690,000 $140,833 $600 5.49%
    15 Year 11 $1,275,000 $115,909 $786 5.76%
    Other 5 $1,225,000 $245,000 $3,395 5.35%
    1 Year 2 $110,000 $55,000 $0 5.50%
    20 Year 2 $220,000 $110,000 $0 5.27%

    For 2018, The Exchange Bank Of Alabama's most frequently cited loan duration was 10 Year, with 34 originations. The 2nd most popular length was 5 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 14 $1,590,000 $113,571
    $1k-2k 7 $1,445,000 $206,429
    $2k-3k 1 $215,000 $215,000
    $3k-4k 1 $385,000 $385,000
    $5k+ 1 $975,000 $975,000

    The Exchange Bank Of Alabama's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 32 $6,740,000 $210,625
    5-6% 23 $2,655,000 $115,435
    6-7% 10 $240,000 $24,000
    7-8% 1 $5,000 $5,000

    During 2018, The Exchange Bank Of Alabama's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 32 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 37 $1,485,000 $40,135 $1,088 5.66%
    $100k-200k 13 $2,025,000 $155,769 $2,516 4.95%
    $200k-400k 11 $2,945,000 $267,727 $4,040 5.10%
    $400k-600k 3 $1,545,000 $515,000 $1,674 4.98%
    $600k-1MM 2 $1,640,000 $820,000 $8,746 4.81%

    2018 saw The Exchange Bank Of Alabama place emphasis on $100,000 or less loans with 37 originations, totaling $1,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 12 $620,000 $51,667 $1,564 5.41%
    $50k-75k 11 $1,075,000 $97,727 $1,817 5.70%
    $250k+ 6 $2,410,000 $401,667 $8,066 4.87%
    $100k-150k 5 $975,000 $195,000 $2,363 5.12%
    $150k-250k 3 $645,000 $215,000 $1,027 4.82%
    $75k-100k 3 $695,000 $231,667 $3,756 5.08%

    The Exchange Bank Of Alabama lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 9 $1,525,000 $169,444 $3,728 5.26%
    20-30% 8 $820,000 $102,500 $1,894 5.21%
    <20% 4 $110,000 $27,500 $926 5.76%
    42% 2 $250,000 $125,000 $2,132 4.90%
    >60% 2 $730,000 $365,000 $5,581 5.05%
    38% 2 $220,000 $110,000 $2,577 5.88%
    40% 2 $210,000 $105,000 $2,721 4.98%
    44% 2 $160,000 $80,000 $2,789 6.05%
    47% 2 $740,000 $370,000 $786 4.64%
    41% 1 $45,000 $45,000 $0 6.00%
    49% 1 $35,000 $35,000 $752 6.65%
    43% 1 $285,000 $285,000 $0 4.75%
    50-60% 1 $85,000 $85,000 $0 6.00%

    The Exchange Bank Of Alabama lent most frequently to those with DTI ratios of 30-36%, with 9 originations. The next most common DTI ratio? 20-30%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 41 $7,125,000 $173,780 $2,686 5.28%
    Not applicable 20 $2,330,000 $116,500 $0 5.60%
    Black 5 $185,000 $37,000 $1,057 5.24%

    Approval Rates

    Total approvals of all applications
    95.77%

    The Exchange Bank Of Alabama 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
    96.97%

    The Exchange Bank Of Alabama 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
    NA 66 $9,640,000 $146,061

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $930,000 $232,500
    Single Family (1-4 Units):Site-Built 62 $8,710,000 $140,484

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $105,000 $35,000 $473 6.00%
    40-60% 8 $680,000 $85,000 $1,430 5.39%
    60-80% 30 $4,660,000 $155,333 $4,354 5.29%
    80-100% 23 $4,175,000 $181,522 $1,787 5.24%
    Under 20% 2 $20,000 $10,000 $84 7.05%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Exchange Bank of Alabama 1321a Noccalula Road Gadsden, AL 35904 Full Service B&M $21,844
    The Exchange Bank of Alabama 230 North Third Street Gadsden, AL 35903 Full Service B&M $82,094
    The Exchange Bank of Alabama 3000 Rainbow Drive Rainbow City, AL 35901 Full Service B&M $56,559
    The Exchange Bank of Alabama 923 Attalla Boulevard Attalla, AL 35954 Full Service B&M $50,314
    The Exchange Bank of Alabama Sixth And Blount Streets Altoona, AL 35952 Full Service B&M $29,270

    For 2018, The Exchange Bank Of Alabama had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,120
    Net interest income $9,845
    Total noninterest income $1,924
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $933
    Trading account gains and fees $0
    Additional Noninterest Income $991
    Pre-tax net operating income $4,079
    Securities gains (or losses, -) $1
    Income before extraordinary items $3,247
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,247
    Minority interest net income $0
    Net income $3,247
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,246

    The Exchange Bank Of Alabama's gross interest income from loans was $11,120,000.
    The Exchange Bank Of Alabama's net interest income from loans was $9,845,000.
    The Exchange Bank Of Alabama's fee based income from loans was $933,000.
    The Exchange Bank Of Alabama's net income from loans was $3,247,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,275
    Provision for credit losses $130
    Total noninterest expense $7,560
    Salaries and employee benefits $4,599
    Premises and equipment expense $1,252
    Additional noninterest expense $1,709
    Applicable income taxes $833
    Net charge-offs $63
    Cash dividends $420

    The Exchange Bank Of Alabama's interest expense for loans was $1,275,000.
    The Exchange Bank Of Alabama's payroll and benefits expense were $4,599,000.
    The Exchange Bank Of Alabama's property, plant and equipment expenses $1,252,000.

    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 0.2%
    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 $232,757
    Deposits held in domestic offices $232,757
    Deposits by Individuals, partnerships, and corporations $186,691
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $46,066
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $116,741
    Demand deposits $38,973
    Nontransaction accounts $116,016
    Money market deposit accounts (MMDAs) $29,913
    Other savings deposits (excluding MMDAs) $25,248
    Total time deposits $60,855
    Total time and savings deposits $193,784
    Noninterest-bearing deposits $38,973
    Interest-bearing deposits $193,784
    Retail deposits $213,040
    IRAs and Keogh plan accounts $9,516
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $281,004
    Cash & Balances due from depository institutions $8,043
    Interest-bearing balances $5,209
    Total securities $75,087
    Federal funds sold & reverse repurchase $0
    Net loans and leases $188,802
    Loan and leases loss allowance $2,285
    Trading account assets $0
    Bank premises and fixed assets $3,795
    Other real estate owned $1,520
    Goodwill and other intangibles $0
    All other assets $3,757

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $281,004
    Total Liabilities $242,570
    Total deposits $232,757
    Interest-bearing deposits $193,784
    Deposits held in domestic offices $232,757
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $9,200
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $613

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $188,802
    Loan and leases loss allowance $2,285
    Total loans and leases (domestic) $191,087
    All real estate loans $162,979
    Real estate loans in domestic offices $162,979
    Construction and development loans $9,763
    Residential 1-4 family construction $2,906
    Other construction, all land development and other land $6,857
    Loans secured by nonfarm nonresidential properties $85,682
    Nonfarm nonresidential secured by owner-occupied properties $65,855
    Commercial real estate & other non-farm, non-residential $19,827
    Multifamily residential real estate $12,042
    1-4 family residential loans $53,193
    Farmland loans $2,299
    Loans held in foreign offices $0
    Farm loans $438
    Commercial and industrial loans $11,307
    To non-U.S. addressees $0
    Loans to individuals $9,536
    Credit card loans $2,254
    Related Plans $156
    Consumer Auto Loans $2,801
    Other loans to individuals $4,325
    All other loans & leases $7,016
    Loans to foreign governments and official institutions $0
    Other loans $247
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $250
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $44
    Non 1-4 family restructured loans & leases $34
    Total loans and leases (foreign) $0

    The Exchange Bank of Alabama had $188,802,000 of loans outstanding in 2018. $162,979,000 of loans were in real estate loans. $9,763,000 of loans were in development loans. $12,042,000 of loans were in multifamily mortgage loans. $53,193,000 of loans were in 1-4 family mortgage loans. $438,000 of loans were in farm loans. $2,254,000 of loans were in credit card loans. $2,801,000 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 274 $54,252 $198,000
    Nonfarm, nonresidential loans - <$100k 65 $2,427 $37,338
    Nonfarm, nonresidential loans - $100-250k 114 $14,092 $123,614
    Nonfarm, nonresidential loans - $250k-1MM 95 $37,733 $397,189
    Commercial & Industrial, US addressed loans - <$1MM 235 $10,513 $44,736
    Commercial & Industrial, US addressed loans - <$100k 195 $3,723 $19,092
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,786 $107,154
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $4,004 $286,000
    Farmland loans - <$1MM 1 $54 $54,000
    Farmland loans - <$100k 1 $54 $54,000
    Agriculture operations loans - <$1MM 15 $360 $24,000
    Agriculture operations loans - <$100k 15 $360 $24,000