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

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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, Birmingham, Daphne, Auburn, and Panama City 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. 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

    76

    Origination Dollar Volume (All Markets)

    $17,350,000

    Employee count

    71

    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) 64 $13,930,000 $217,656 $0 0.00%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 3 $1,125,000 $375,000 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $955,000 $318,333 $0 0.00%
    Outside of Metro Areas 2 $610,000 $305,000 $0 0.00%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Fort Payne, AL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    The Exchange Bank Of Alabama's top markets include Gadsden, Birmingham, Daphne, Auburn, and Panama City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $17,350,000 $228,289 $0 0.00%

    For 2021, The Exchange Bank Of Alabama's most frequently originated type of loan was Conventional, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 37 $10,695,000 $289,054 $0 0.00%
    Refi 26 $4,290,000 $165,000 $0 0.00%
    Other 7 $1,525,000 $217,857 $0 0.00%
    Home Improvement 6 $840,000 $140,000 $0 0.00%

    For 2021, The Exchange Bank Of Alabama's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 76 $17,350,000 $228,289 $0 0.00%

    For 2021, The Exchange Bank Of Alabama's most frequently cited loan duration was Other, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 28 $1,390,000 $49,643 $0 0.00%
    $100k-200k 22 $3,070,000 $139,545 $0 0.00%
    $200k-400k 15 $3,915,000 $261,000 $0 0.00%
    $400k-600k 9 $4,255,000 $472,778 $0 0.00%
    $1MM+ 1 $4,005,000 $4,005,000 $0 0.00%
    $600k-1MM 1 $715,000 $715,000 $0 0.00%

    2021 saw The Exchange Bank Of Alabama place emphasis on $100,000 or less loans with 28 originations, totaling $1,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 14 $1,610,000 $115,000 $0 0.00%
    $50k or less 14 $1,220,000 $87,143 $0 0.00%
    $150k-250k 11 $2,725,000 $247,727 $0 0.00%
    $250k+ 8 $3,070,000 $383,750 $0 0.00%
    $75k-100k 7 $1,005,000 $143,571 $0 0.00%
    $100k-150k 5 $415,000 $83,000 $0 0.00%

    The Exchange Bank Of Alabama lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $50k or less, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 76 $17,350,000 $228,289 $0 0.00%

    The Exchange Bank Of Alabama lent most frequently to those with DTI ratios of Exempt%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 61 $10,465,000 $171,557 $0 0.00%
    Not applicable 10 $6,270,000 $627,000 $0 0.00%
    Not provided 3 $505,000 $168,333 $0 0.00%
    Black 2 $110,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.86%

    The Exchange Bank Of Alabama has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.37%

    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
    Exempt 76 $17,350,000 $228,289

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    76 $17,350,000 $228,289

    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 $25,631
    The Exchange Bank of Alabama 230 N 3rd St Gadsden, AL 35901 Full Service B&M $118,384
    The Exchange Bank of Alabama 3003 Rainbow Dr Rainbow City, AL 35906 Full Service B&M $74,724
    The Exchange Bank of Alabama 7170 6th Ave Altoona, AL 35952 Full Service B&M $31,203
    The Exchange Bank of Alabama 923 Cleveland Ave Attalla, AL 35954 Full Service B&M $61,111

    For 2021, The Exchange Bank Of Alabama had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,477
    Net interest income $9,210
    Total noninterest income $2,102
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $661
    Trading account gains and fees $0
    Additional Noninterest Income $1,441
    Pre-tax net operating income $3,205
    Securities gains (or losses, -) $104
    Income before extraordinary items $2,600
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,600
    Minority interest net income $0
    Net income $2,600
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,517

    The Exchange Bank Of Alabama's gross interest income from loans was $10,477,000.
    The Exchange Bank Of Alabama's net interest income from loans was $9,210,000.
    The Exchange Bank Of Alabama's fee based income from loans was $661,000.
    The Exchange Bank Of Alabama's net income from loans was $2,600,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,267
    Provision for credit losses $0
    Total noninterest expense $8,107
    Salaries and employee benefits $5,073
    Premises and equipment expense $1,401
    Additional noninterest expense $1,633
    Applicable income taxes $709
    Net charge-offs $-13
    Cash dividends $352

    The Exchange Bank Of Alabama's interest expense for loans was $1,267,000.
    The Exchange Bank Of Alabama's payroll and benefits expense were $5,073,000.
    The Exchange Bank Of Alabama's property, plant and equipment expenses $1,401,000.

    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 $314,183
    Deposits held in domestic offices $314,183
    Deposits by Individuals, partnerships, and corporations $248,719
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $65,464
    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 $179,796
    Demand deposits $123,275
    Nontransaction accounts $134,387
    Money market deposit accounts (MMDAs) $43,555
    Other savings deposits (excluding MMDAs) $35,433
    Total time deposits $55,399
    Total time and savings deposits $190,908
    Noninterest-bearing deposits $123,275
    Interest-bearing deposits $190,908
    Retail deposits $293,935
    IRAs and Keogh plan accounts $10,225
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $365,371
    Cash & Balances due from depository institutions $66,441
    Interest-bearing balances $59,806
    Total securities $109,738
    Federal funds sold & reverse repurchase $4,982
    Net loans and leases $175,133
    Loan and leases loss allowance $2,657
    Trading account assets $0
    Bank premises and fixed assets $2,958
    Other real estate owned $732
    Goodwill and other intangibles $0
    All other assets $5,387

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $365,371
    Total Liabilities $319,244
    Total deposits $314,183
    Interest-bearing deposits $190,908
    Deposits held in domestic offices $314,183
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $4,700
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $361

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $175,133
    Loan and leases loss allowance $2,657
    Total loans and leases (domestic) $177,790
    All real estate loans $154,416
    Real estate loans in domestic offices $154,416
    Construction and development loans $7,955
    Residential 1-4 family construction $2,742
    Other construction, all land development and other land $5,213
    Loans secured by nonfarm nonresidential properties $84,659
    Nonfarm nonresidential secured by owner-occupied properties $54,774
    Commercial real estate & other non-farm, non-residential $29,885
    Multifamily residential real estate $6,099
    1-4 family residential loans $54,008
    Farmland loans $1,695
    Loans held in foreign offices $0
    Farm loans $573
    Commercial and industrial loans $11,495
    To non-U.S. addressees $0
    Loans to individuals $7,994
    Credit card loans $1,903
    Related Plans $132
    Consumer Auto Loans $2,775
    Other loans to individuals $3,184
    All other loans & leases $3,578
    Loans to foreign governments and official institutions $0
    Other loans $169
    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 $1,431
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Exchange Bank of Alabama had $175,133,000 of loans outstanding in 2021. $154,416,000 of loans were in real estate loans. $7,955,000 of loans were in development loans. $6,099,000 of loans were in multifamily mortgage loans. $54,008,000 of loans were in 1-4 family mortgage loans. $573,000 of loans were in farm loans. $1,903,000 of loans were in credit card loans. $2,775,000 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 236 $44,064 $186,712
    Nonfarm, nonresidential loans - <$100k 60 $2,065 $34,417
    Nonfarm, nonresidential loans - $100-250k 97 $12,406 $127,897
    Nonfarm, nonresidential loans - $250k-1MM 79 $29,593 $374,595
    Commercial & Industrial, US addressed loans - <$1MM 188 $9,356 $49,766
    Commercial & Industrial, US addressed loans - <$100k 138 $3,049 $22,094
    Commercial & Industrial, US addressed loans - $100-250k 29 $1,990 $68,621
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $4,317 $205,571
    Farmland loans - <$1MM 3 $507 $169,000
    Farmland loans - <$100k 2 $96 $48,000
    Farmland loans - $250k-1MM 1 $411 $411,000
    Agriculture operations loans - <$1MM 16 $572 $35,750
    Agriculture operations loans - <$100k 12 $192 $16,000
    Agriculture operations loans - $100-250k 4 $380 $95,000