The Exchange Bank Of Alabama Mortgage Rates, Fees & Info

Altoona, AL

LEI: 549300OPZE52Y4J4QP25

Tax ID: 63-0073830

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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

    The Exchange Bank Of Alabama is a smaller bank specializing in Home Purchase and Refi loans. The Exchange Bank Of Alabama has a high proportion of conventional loans. Their top markets by origination volume include: Gadsden, Tuscaloosa, Daphne, Crestview, and Birmingham among others. We have data for 8 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.

    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

    69

    Origination Dollar Volume (All Markets)

    $10,085,000

    Employee count

    74

    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 $6,545,000 $114,825 $0 0.00%
    Outside of Metro Areas 3 $975,000 $325,000 $0 0.00%
    TUSCALOOSA, AL (FHA|USDA|VA) 2 $700,000 $350,000 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $600,000 $300,000 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $360,000 $180,000 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    Albertville, AL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    The Exchange Bank Of Alabama's top markets include Gadsden, Tuscaloosa, Daphne, Crestview, and Birmingham among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 69 $10,085,000 $146,159 $0 0.00%

    For 2019, The Exchange Bank Of Alabama's most frequently originated type of loan was Conventional, with 69 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $6,415,000 $156,463 $0 0.00%
    Refi 22 $3,210,000 $145,909 $0 0.00%
    Other 4 $370,000 $92,500 $0 0.00%
    Home Improvement 2 $90,000 $45,000 $0 0.00%

    For 2019, The Exchange Bank Of Alabama's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 69 $10,085,000 $146,159 $0 0.00%

    For 2019, The Exchange Bank Of Alabama's most frequently cited loan duration was Other, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 35 $1,535,000 $43,857 $0 0.00%
    $100k-200k 15 $2,105,000 $140,333 $0 0.00%
    $200k-400k 12 $3,410,000 $284,167 $0 0.00%
    $400k-600k 7 $3,035,000 $433,571 $0 0.00%

    2019 saw The Exchange Bank Of Alabama place emphasis on $100,000 or less loans with 35 originations, totaling $1,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 16 $780,000 $48,750 $0 0.00%
    $50k-75k 9 $1,395,000 $155,000 $0 0.00%
    $150k-250k 8 $2,070,000 $258,750 $0 0.00%
    $100k-150k 6 $970,000 $161,667 $0 0.00%
    $75k-100k 5 $365,000 $73,000 $0 0.00%
    $250k+ 4 $1,390,000 $347,500 $0 0.00%

    The Exchange Bank Of Alabama lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 69 $10,085,000 $146,159 $0 0.00%

    The Exchange Bank Of Alabama lent most frequently to those with DTI ratios of Exempt%, with 69 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 49 $7,765,000 $158,469 $0 0.00%
    Not applicable 17 $1,945,000 $114,412 $0 0.00%
    Asian 1 $305,000 $305,000 $0 0.00%
    Black 2 $70,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.57%

    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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 69 $10,085,000 $146,159

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $135,000 $135,000
    Multifamily:Site-Built 1 $45,000 $45,000
    Single Family (1-4 Units):Manufactured 2 $40,000 $20,000
    Single Family (1-4 Units):Site-Built 65 $9,865,000 $151,769

    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 $21,652
    The Exchange Bank of Alabama 230 N 3rd St Gadsden, AL 35901 Full Service B&M $82,675
    The Exchange Bank of Alabama 3003 Rainbow Dr Rainbow City, AL 35906 Full Service B&M $57,482
    The Exchange Bank of Alabama 923 Cleveland Ave Attalla, AL 35954 Full Service B&M $52,034
    The Exchange Bank of Alabama Sixth And Blount Streets Altoona, AL 35952 Full Service B&M $27,546

    For 2019, The Exchange Bank Of Alabama had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,733
    Net interest income $9,972
    Total noninterest income $1,625
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $846
    Trading account gains and fees $0
    Additional Noninterest Income $779
    Pre-tax net operating income $3,447
    Securities gains (or losses, -) $12
    Income before extraordinary items $3,044
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,044
    Minority interest net income $0
    Net income $3,044
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,033

    The Exchange Bank Of Alabama's gross interest income from loans was $11,733,000.
    The Exchange Bank Of Alabama's net interest income from loans was $9,972,000.
    The Exchange Bank Of Alabama's fee based income from loans was $846,000.
    The Exchange Bank Of Alabama's net income from loans was $3,044,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,761
    Provision for credit losses $200
    Total noninterest expense $7,950
    Salaries and employee benefits $4,913
    Premises and equipment expense $1,305
    Additional noninterest expense $1,732
    Applicable income taxes $415
    Net charge-offs $59
    Cash dividends $860

    The Exchange Bank Of Alabama's interest expense for loans was $1,761,000.
    The Exchange Bank Of Alabama's payroll and benefits expense were $4,913,000.
    The Exchange Bank Of Alabama's property, plant and equipment expenses $1,305,000.

    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 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $238,635
    Deposits held in domestic offices $238,635
    Deposits by Individuals, partnerships, and corporations $189,859
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $48,776
    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 $119,107
    Demand deposits $56,941
    Nontransaction accounts $119,528
    Money market deposit accounts (MMDAs) $33,234
    Other savings deposits (excluding MMDAs) $25,576
    Total time deposits $60,718
    Total time and savings deposits $181,694
    Noninterest-bearing deposits $43,018
    Interest-bearing deposits $195,617
    Retail deposits $216,193
    IRAs and Keogh plan accounts $9,987
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $283,418
    Cash & Balances due from depository institutions $10,062
    Interest-bearing balances $7,012
    Total securities $67,703
    Federal funds sold & reverse repurchase $9,209
    Net loans and leases $188,533
    Loan and leases loss allowance $2,426
    Trading account assets $0
    Bank premises and fixed assets $3,660
    Other real estate owned $876
    Goodwill and other intangibles $0
    All other assets $3,375

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $283,418
    Total Liabilities $241,285
    Total deposits $238,635
    Interest-bearing deposits $195,617
    Deposits held in domestic offices $238,635
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $2,200
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $450

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $188,533
    Loan and leases loss allowance $2,426
    Total loans and leases (domestic) $190,959
    All real estate loans $164,945
    Real estate loans in domestic offices $164,945
    Construction and development loans $9,231
    Residential 1-4 family construction $2,532
    Other construction, all land development and other land $6,699
    Loans secured by nonfarm nonresidential properties $85,435
    Nonfarm nonresidential secured by owner-occupied properties $63,983
    Commercial real estate & other non-farm, non-residential $21,452
    Multifamily residential real estate $11,786
    1-4 family residential loans $56,387
    Farmland loans $2,106
    Loans held in foreign offices $0
    Farm loans $498
    Commercial and industrial loans $10,846
    To non-U.S. addressees $0
    Loans to individuals $9,493
    Credit card loans $2,329
    Related Plans $197
    Consumer Auto Loans $2,764
    Other loans to individuals $4,203
    All other loans & leases $5,339
    Loans to foreign governments and official institutions $0
    Other loans $227
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $165
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $14
    Non 1-4 family restructured loans & leases $7
    Total loans and leases (foreign) $0

    The Exchange Bank of Alabama had $188,533,000 of loans outstanding in 2019. $164,945,000 of loans were in real estate loans. $9,231,000 of loans were in development loans. $11,786,000 of loans were in multifamily mortgage loans. $56,387,000 of loans were in 1-4 family mortgage loans. $498,000 of loans were in farm loans. $2,329,000 of loans were in credit card loans. $2,764,000 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 263 $50,795 $193,137
    Nonfarm, nonresidential loans - <$100k 63 $2,350 $37,302
    Nonfarm, nonresidential loans - $100-250k 108 $13,250 $122,685
    Nonfarm, nonresidential loans - $250k-1MM 92 $35,195 $382,554
    Commercial & Industrial, US addressed loans - <$1MM 209 $10,360 $49,569
    Commercial & Industrial, US addressed loans - <$100k 166 $2,867 $17,271
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,694 $103,615
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $4,799 $282,294
    Farmland loans - <$1MM 1 $50 $50,000
    Farmland loans - <$100k 1 $50 $50,000
    Agriculture operations loans - <$1MM 15 $342 $22,800
    Agriculture operations loans - <$100k 15 $342 $22,800