The Exchange Bank Of Alabama Mortgage Rates, Fees & Info

Altoona, AL

LEI: 549300OPZE52Y4J4QP25

Tax ID: 63-0073830

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

Jump to:

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, Crestview, Panama City, Birmingham, and Anniston among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Exchange Bank Of Alabama has an 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    59

    Origination Dollar Volume (All Markets)

    $23,375,000

    Employee count

    72

    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) 50 $19,220,000 $384,400 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $2,420,000 $1,210,000 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 3 $935,000 $311,667 $0 0.00%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $360,000 $180,000 $0 0.00%
    ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    Fort Payne, AL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    The Exchange Bank Of Alabama's top markets include Gadsden, Crestview, Panama City, Birmingham, and Anniston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 59 $23,375,000 $396,186 $0 0.00%

    For 2020, The Exchange Bank Of Alabama's most frequently originated type of loan was Conventional, with 59 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $8,515,000 $293,621 $0 0.00%
    Refi 23 $13,895,000 $604,130 $0 0.00%
    Home Improvement 4 $620,000 $155,000 $0 0.00%
    Other 3 $345,000 $115,000 $0 0.00%

    For 2020, The Exchange Bank Of Alabama's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 59 $23,375,000 $396,186 $0 0.00%

    For 2020, The Exchange Bank Of Alabama's most frequently cited loan duration was Other, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 21 $1,185,000 $56,429 $0 0.00%
    $100k-200k 19 $2,545,000 $133,947 $0 0.00%
    $200k-400k 8 $2,080,000 $260,000 $0 0.00%
    $1MM+ 6 $15,010,000 $2,501,667 $0 0.00%
    $400k-600k 4 $1,710,000 $427,500 $0 0.00%
    $600k-1MM 1 $845,000 $845,000 $0 0.00%

    2020 saw The Exchange Bank Of Alabama place emphasis on $100,000 or less loans with 21 originations, totaling $1,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 11 $835,000 $75,909 $0 0.00%
    $150k-250k 6 $1,480,000 $246,667 $0 0.00%
    $50k-75k 6 $860,000 $143,333 $0 0.00%
    $100k-150k 4 $740,000 $185,000 $0 0.00%
    $75k-100k 4 $660,000 $165,000 $0 0.00%
    $250k+ 3 $2,625,000 $875,000 $0 0.00%

    The Exchange Bank Of Alabama lent most frequently to those with incomes in the $50k or less range, with 11 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 59 $23,375,000 $396,186 $0 0.00%

    The Exchange Bank Of Alabama lent most frequently to those with DTI ratios of Exempt%, with 59 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 20 $12,350,000 $617,500 $0 0.00%
    White 34 $10,230,000 $300,882 $0 0.00%
    Asian 1 $405,000 $405,000 $0 0.00%
    Black 3 $255,000 $85,000 $0 0.00%
    Not provided 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.95%

    The Exchange Bank Of Alabama has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.75%

    The Exchange Bank Of Alabama has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 59 $23,375,000 $396,186

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $11,990,000 $1,998,333
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 52 $11,320,000 $217,692

    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 $24,910
    The Exchange Bank of Alabama 230 N 3rd St Gadsden, AL 35901 Full Service B&M $100,908
    The Exchange Bank of Alabama 3003 Rainbow Dr Rainbow City, AL 35906 Full Service B&M $64,982
    The Exchange Bank of Alabama 7170 6th Ave Altoona, AL 35952 Full Service B&M $28,989
    The Exchange Bank of Alabama 923 Cleveland Ave Attalla, AL 35954 Full Service B&M $57,485

    For 2020, The Exchange Bank Of Alabama had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,504
    Net interest income $10,004
    Total noninterest income $1,738
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $677
    Trading account gains and fees $0
    Additional Noninterest Income $1,061
    Pre-tax net operating income $3,275
    Securities gains (or losses, -) $-1
    Income before extraordinary items $2,635
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,635
    Minority interest net income $0
    Net income $2,635
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,635

    The Exchange Bank Of Alabama's gross interest income from loans was $11,504,000.
    The Exchange Bank Of Alabama's net interest income from loans was $10,004,000.
    The Exchange Bank Of Alabama's fee based income from loans was $677,000.
    The Exchange Bank Of Alabama's net income from loans was $2,635,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,500
    Provision for credit losses $525
    Total noninterest expense $7,942
    Salaries and employee benefits $4,963
    Premises and equipment expense $1,344
    Additional noninterest expense $1,635
    Applicable income taxes $639
    Net charge-offs $307
    Cash dividends $628

    The Exchange Bank Of Alabama's interest expense for loans was $1,500,000.
    The Exchange Bank Of Alabama's payroll and benefits expense were $4,963,000.
    The Exchange Bank Of Alabama's property, plant and equipment expenses $1,344,000.

    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 $285,779
    Deposits held in domestic offices $285,779
    Deposits by Individuals, partnerships, and corporations $228,583
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $57,196
    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 $155,822
    Demand deposits $109,732
    Nontransaction accounts $129,957
    Money market deposit accounts (MMDAs) $36,743
    Other savings deposits (excluding MMDAs) $31,352
    Total time deposits $61,861
    Total time and savings deposits $176,047
    Noninterest-bearing deposits $109,732
    Interest-bearing deposits $176,047
    Retail deposits $262,060
    IRAs and Keogh plan accounts $10,953
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $334,296
    Cash & Balances due from depository institutions $65,896
    Interest-bearing balances $57,372
    Total securities $67,427
    Federal funds sold & reverse repurchase $4,977
    Net loans and leases $188,090
    Loan and leases loss allowance $2,644
    Trading account assets $0
    Bank premises and fixed assets $3,601
    Other real estate owned $842
    Goodwill and other intangibles $0
    All other assets $3,463

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $334,296
    Total Liabilities $288,852
    Total deposits $285,779
    Interest-bearing deposits $176,047
    Deposits held in domestic offices $285,779
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $2,200
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $873

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $188,090
    Loan and leases loss allowance $2,644
    Total loans and leases (domestic) $190,734
    All real estate loans $162,042
    Real estate loans in domestic offices $162,042
    Construction and development loans $8,493
    Residential 1-4 family construction $3,151
    Other construction, all land development and other land $5,342
    Loans secured by nonfarm nonresidential properties $83,117
    Nonfarm nonresidential secured by owner-occupied properties $60,167
    Commercial real estate & other non-farm, non-residential $22,950
    Multifamily residential real estate $14,320
    1-4 family residential loans $54,743
    Farmland loans $1,369
    Loans held in foreign offices $0
    Farm loans $299
    Commercial and industrial loans $15,937
    To non-U.S. addressees $0
    Loans to individuals $7,902
    Credit card loans $1,864
    Related Plans $105
    Consumer Auto Loans $2,595
    Other loans to individuals $3,338
    All other loans & leases $4,715
    Loans to foreign governments and official institutions $0
    Other loans $124
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Exchange Bank of Alabama had $188,090,000 of loans outstanding in 2020. $162,042,000 of loans were in real estate loans. $8,493,000 of loans were in development loans. $14,320,000 of loans were in multifamily mortgage loans. $54,743,000 of loans were in 1-4 family mortgage loans. $299,000 of loans were in farm loans. $1,864,000 of loans were in credit card loans. $2,595,000 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 251 $44,797 $178,474
    Nonfarm, nonresidential loans - <$100k 67 $2,429 $36,254
    Nonfarm, nonresidential loans - $100-250k 104 $12,358 $118,827
    Nonfarm, nonresidential loans - $250k-1MM 80 $30,010 $375,125
    Commercial & Industrial, US addressed loans - <$1MM 261 $13,711 $52,533
    Commercial & Industrial, US addressed loans - <$100k 201 $3,864 $19,224
    Commercial & Industrial, US addressed loans - $100-250k 36 $3,120 $86,667
    Commercial & Industrial, US addressed loans - $250k-1MM 24 $6,727 $280,292
    Farmland loans - <$1MM 2 $109 $54,500
    Farmland loans - <$100k 2 $109 $54,500
    Agriculture operations loans - <$1MM 15 $299 $19,933
    Agriculture operations loans - <$100k 13 $263 $20,231
    Agriculture operations loans - $100-250k 2 $36 $18,000