United Cumberland Bank Mortgage Rates, Fees & Info

Whitley City, KY

LEI: 549300PLQ5DT613TXQ48

Tax ID: 61-0126276

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
  • Complaints
  • 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

    United Cumberland Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. United Cumberland Bank has a high proportion of conventional loans. Their top two markets are Knoxville and Morristown .

    United Cumberland Bank 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. United Cumberland Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    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

    229

    Origination Dollar Volume (All Markets)

    $15,415,000

    Employee count

    95

    Awards

    United Cumberland Bank 30 Year Conventional Loans gold United Cumberland Bank 30 Year Conventional Loans gold
    Show all (2) awards

    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
    Outside of Metro Areas 216 $14,310,000 $66,250 $1,270 6.06%
    KNOXVILLE, TN (FHA|USDA|VA) 12 $980,000 $81,667 $1,601 5.15%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.25%
    United Cumberland Bank's top markets include Knoxville and Morristown among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 229 $15,415,000 $67,314 $1,290 6.01%

    For 2018, United Cumberland Bank's most frequently originated type of loan was Conventional, with 229 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $6,130,000 $63,854 $1,242 6.16%
    Cash Out Refi 67 $4,655,000 $69,478 $1,302 6.03%
    Refi 41 $3,825,000 $93,293 $1,554 5.33%
    Home Improvement 14 $420,000 $30,000 $858 6.46%
    Other 11 $385,000 $35,000 $1,129 6.46%

    For 2018, United Cumberland Bank's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Cash Out Refi, with 67 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 94 $8,360,000 $88,936 $1,490 5.80%
    20 Year 54 $3,840,000 $71,111 $1,180 5.85%
    15 Year 37 $1,825,000 $49,324 $1,198 5.71%
    Other 19 $605,000 $31,842 $915 7.36%
    10 Year 19 $565,000 $29,737 $940 6.54%
    5 Year 4 $80,000 $20,000 $927 6.61%
    3 Year 1 $15,000 $15,000 $0 8.25%
    1 Year 1 $125,000 $125,000 $0 6.25%

    For 2018, United Cumberland Bank's most frequently cited loan duration was 30 Year, with 94 originations. The 2nd most popular length was 20 Year, with 54 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 165 $8,825,000 $53,485
    $1k-2k 22 $2,870,000 $130,455
    $2k-3k 7 $715,000 $102,143
    $5k+ 1 $205,000 $205,000

    United Cumberland Bank's average total fees were $1,490, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 165 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 82 $4,060,000 $49,512
    5-6% 68 $4,630,000 $68,088
    4-5% 37 $4,365,000 $117,973
    7-8% 22 $1,190,000 $54,091
    Over 8% 10 $180,000 $18,000
    3-4% 7 $875,000 $125,000

    During 2018, United Cumberland Bank's average interest rate for loans was 5.80%, while their most frequently originated rate bucket for loans was 6-7%, with 82 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 196 $9,590,000 $48,929 $1,146 6.12%
    $100k-200k 25 $3,215,000 $128,600 $2,057 5.61%
    $200k-400k 7 $1,975,000 $282,143 $3,256 4.73%
    $600k-1MM 1 $635,000 $635,000 $2,578 4.85%

    2018 saw United Cumberland Bank place emphasis on $100,000 or less loans with 196 originations, totaling $9,590,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 133 $6,695,000 $50,338 $1,158 6.24%
    $50k-75k 51 $3,435,000 $67,353 $1,392 5.86%
    $75k-100k 14 $1,020,000 $72,857 $1,430 5.74%
    $100k-150k 13 $1,825,000 $140,385 $2,029 5.65%
    $150k-250k 4 $1,190,000 $297,500 $2,638 4.56%

    United Cumberland Bank lent most frequently to those with incomes in the $50k or less range, with 133 originations. The second most popular income band? $50k-75k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $3,270,000 $60,556 $1,257 5.87%
    <20% 45 $2,015,000 $44,778 $1,106 6.17%
    30-36% 38 $2,300,000 $60,526 $1,342 5.93%
    50-60% 8 $550,000 $68,750 $1,202 6.09%
    37% 8 $730,000 $91,250 $1,491 5.89%
    42% 7 $645,000 $92,143 $1,645 6.34%
    36% 6 $430,000 $71,667 $1,259 6.36%
    44% 5 $935,000 $187,000 $1,878 5.24%
    39% 4 $190,000 $47,500 $737 6.30%
    43% 4 $230,000 $57,500 $1,006 6.71%
    45% 4 $290,000 $72,500 $1,868 5.90%
    49% 4 $340,000 $85,000 $1,984 5.80%
    38% 3 $455,000 $151,667 $911 5.22%
    41% 3 $235,000 $78,333 $503 6.16%
    40% 3 $345,000 $115,000 $3,110 5.92%
    47% 2 $130,000 $65,000 $1,067 7.08%
    48% 1 $115,000 $115,000 $2,438 5.89%
    46% 1 $65,000 $65,000 $808 6.16%
    >60% 1 $35,000 $35,000 $610 6.79%

    United Cumberland Bank lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? <20%, with 45 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 224 $14,960,000 $66,786 $1,292 6.02%
    Not applicable 4 $380,000 $95,000 $0 5.50%
    American Indian 1 $75,000 $75,000 $972 5.56%

    Approval Rates

    Total approvals of all applications
    88.93%

    United Cumberland Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.77%

    United Cumberland Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 229 $15,415,000 $67,314

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $135,000 $135,000
    Multifamily:Site-Built 3 $625,000 $208,333
    Single Family (1-4 Units):Manufactured 41 $1,595,000 $38,902
    Single Family (1-4 Units):Site-Built 184 $13,060,000 $70,978

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $610,000 $30,500 $1,096 6.52%
    40-60% 48 $2,230,000 $46,458 $1,074 6.07%
    60-80% 93 $6,925,000 $74,462 $1,478 5.90%
    80-100% 51 $4,525,000 $88,725 $1,321 5.93%
    Over 100% 6 $790,000 $131,667 $1,510 5.79%
    Under 20% 9 $215,000 $23,889 $964 6.44%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Other type of mortgage Trouble during payment process 1 25.0%
    UNITED COMMUNITY BANK Conventional home mortgage Trouble during payment process 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    UNITED COMMUNITY BANK Other type of mortgage Struggling to pay mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    United Cumberland Bank 106 Municipal Drive Oneida, TN 37841 Full Service B&M $85,392
    United Cumberland Bank 1385 North Highway 27 Whitley City, KY 42653 Full Service B&M $5,399
    United Cumberland Bank 2568 South Hwy 27 Somerset, KY 42501 Full Service B&M $1,523
    United Cumberland Bank 2828 Appalachian Hwy Jacksboro, TN 37757 Full Service B&M $24,436
    United Cumberland Bank 3995 South Highway 27 Pine Knot, KY 42635 Full Service B&M $13,659
    United Cumberland Bank 47 South Main Street Whitley City, KY 42653 Full Service B&M $94,114
    United Cumberland Bank 567 Howard H. Baker Highway Huntsville, TN 37756 Full Service B&M $11,893

    For 2018, United Cumberland Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,638
    Net interest income $11,978
    Total noninterest income $2,950
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,478
    Trading account gains and fees $0
    Additional Noninterest Income $1,472
    Pre-tax net operating income $4,906
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,756
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,756
    Minority interest net income $0
    Net income $4,756
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,756

    United Cumberland Bank's gross interest income from loans was $13,638,000.
    United Cumberland Bank's net interest income from loans was $11,978,000.
    United Cumberland Bank's fee based income from loans was $1,478,000.
    United Cumberland Bank's net income from loans was $4,756,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,660
    Provision for credit losses $450
    Total noninterest expense $9,572
    Salaries and employee benefits $5,112
    Premises and equipment expense $1,506
    Additional noninterest expense $2,954
    Applicable income taxes $150
    Net charge-offs $239
    Cash dividends $3,300

    United Cumberland Bank's interest expense for loans was $1,660,000.
    United Cumberland Bank's payroll and benefits expense were $5,112,000.
    United Cumberland Bank's property, plant and equipment expenses $1,506,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 4.0%
    Real Estate loans 6.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 14.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 4.0%
    Commercial & industrial loans 0.0%
    Personal loans 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 1.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $235,260
    Deposits held in domestic offices $235,260
    Deposits by Individuals, partnerships, and corporations $212,418
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $22,593
    Deposits by Commercial banks and other depository institutions in U.S. $249
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $95,626
    Demand deposits $52,538
    Nontransaction accounts $139,634
    Money market deposit accounts (MMDAs) $9,332
    Other savings deposits (excluding MMDAs) $35,098
    Total time deposits $95,204
    Total time and savings deposits $182,722
    Noninterest-bearing deposits $52,538
    Interest-bearing deposits $182,722
    Retail deposits $223,029
    IRAs and Keogh plan accounts $23,831
    Brokered deposits $249
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $287,229
    Cash & Balances due from depository institutions $21,347
    Interest-bearing balances $13,453
    Total securities $57,891
    Federal funds sold & reverse repurchase $0
    Net loans and leases $195,936
    Loan and leases loss allowance $2,877
    Trading account assets $0
    Bank premises and fixed assets $7,017
    Other real estate owned $2,190
    Goodwill and other intangibles $50
    All other assets $2,798

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $287,229
    Total Liabilities $250,216
    Total deposits $235,260
    Interest-bearing deposits $182,722
    Deposits held in domestic offices $235,260
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $6,486
    Trading liabilities $0
    Other borrowed funds $7,962
    Subordinated debt $0
    All other liabilities $508

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $195,936
    Loan and leases loss allowance $2,877
    Total loans and leases (domestic) $198,813
    All real estate loans $144,153
    Real estate loans in domestic offices $144,153
    Construction and development loans $18,008
    Residential 1-4 family construction $2,573
    Other construction, all land development and other land $15,435
    Loans secured by nonfarm nonresidential properties $36,164
    Nonfarm nonresidential secured by owner-occupied properties $18,848
    Commercial real estate & other non-farm, non-residential $17,316
    Multifamily residential real estate $4,810
    1-4 family residential loans $83,230
    Farmland loans $1,941
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $22,201
    To non-U.S. addressees $0
    Loans to individuals $32,604
    Credit card loans $0
    Related Plans $26
    Consumer Auto Loans $10,249
    Other loans to individuals $22,329
    All other loans & leases $120
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $646
    Non 1-4 family restructured loans & leases $524
    Total loans and leases (foreign) $0

    United Cumberland Bank had $195,936,000 of loans outstanding in 2018. $144,153,000 of loans were in real estate loans. $18,008,000 of loans were in development loans. $4,810,000 of loans were in multifamily mortgage loans. $83,230,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $10,249,000 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 123 $17,166 $139,561
    Nonfarm, nonresidential loans - <$100k 53 $1,987 $37,491
    Nonfarm, nonresidential loans - $100-250k 38 $4,957 $130,447
    Nonfarm, nonresidential loans - $250k-1MM 32 $10,222 $319,438
    Commercial & Industrial, US addressed loans - <$1MM 163 $12,461 $76,448
    Commercial & Industrial, US addressed loans - <$100k 118 $2,984 $25,288
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,988 $114,923
    Commercial & Industrial, US addressed loans - $250k-1MM 19 $6,489 $341,526
    Farmland loans - <$1MM 6 $436 $72,667
    Farmland loans - <$100k 2 $95 $47,500
    Farmland loans - $100-250k 4 $341 $85,250