United Cumberland Bank Mortgage Rates, Fees & Info
Whitley City, KYLEI: 549300PLQ5DT613TXQ48
Tax ID: 61-0126276
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Mortgage Data
Bank Data
Review & Overview
United Cumberland Bank is a smaller bank specializing in Home Purchase and Refi loans. United Cumberland Bank has a high proportion of conventional loans. United Cumberland Bank has a low ratio of conventional loans.They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Knoxville, Lexington, Somerset, and Morristown among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)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.
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Originations
279Origination Dollar Volume (All Markets)
$29,655,000Employee count
89Top 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 | 256 | $25,040,000 | $97,813 | $960 | 7.41% |
| KNOXVILLE, TN (FHA|USDA|VA) | 17 | $2,495,000 | $146,765 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 3 | $1,675,000 | $558,333 | $0 | 0.00% |
| Somerset, KY (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 277 | $29,555,000 | $106,697 | $0 | 0.00% |
| Conventional | 1 | $15,000 | $15,000 | $960 | 7.41% |
| FHA | 1 | $85,000 | $85,000 | $0 | 0.00% |
For 2021, United Cumberland Bank's most frequently originated type of loan was Conventional, with 277 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
For 2021, United Cumberland Bank's most frequently cited loan purpose was Home Purchase, with 114 originations. The 2nd most popular reason was Refi, with 99 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 278 | $29,640,000 | $106,619 | $0 | 0.00% |
| 10 Year | 1 | $15,000 | $15,000 | $960 | 7.41% |
For 2021, United Cumberland Bank's most frequently cited loan duration was Other, with 278 originations. The 2nd most popular length was 10 Year, with 1 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $15,000 | $15,000 |
United Cumberland Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 7-8% | 1 | $15,000 | $15,000 |
During 2021, United Cumberland Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 7-8%, with 1 originations.
Loan Sizing
2021 saw United Cumberland Bank place emphasis on $100,000 or less loans with 188 originations, totaling $10,100,000 in origination value.
Applicant Income
United Cumberland Bank lent most frequently to those with incomes in the $50k or less range, with 119 originations. The second most popular income band? $50k-75k, with 64 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 278 | $29,640,000 | $106,619 | $0 | 0.00% |
| 20-30% | 1 | $15,000 | $15,000 | $960 | 7.41% |
United Cumberland Bank lent most frequently to those with DTI ratios of Exempt%, with 278 originations. The next most common DTI ratio? 20-30%, with 1 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.09%
United Cumberland Bank has a below average approval rate.
Pick Rate
Approvals leading to origination80.65%
United Cumberland Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 278 | $29,640,000 | $106,619 |
| NA | 1 | $15,000 | $15,000 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 60-80% | 1 | $15,000 | $15,000 | $960 | 7.41% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| UNITED COMMUNITY BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| UNITED COMMUNITY BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 20.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 20.0% |
| UNITED COMMUNITY BANK | Other type of mortgage | Trouble during payment process | 1 | 20.0% |
| UNITED COMMUNITY BANK | Conventional home mortgage | Trouble during payment process | 1 | 20.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| United Cumberland Bank | 106 Municipal Drive Oneida, TN 37841 | Full Service B&M | $97,180 |
| United Cumberland Bank | 1385 North Highway 27 Whitley City, KY 42653 | Full Service B&M | $11,108 |
| United Cumberland Bank | 2568 South Hwy 27 Somerset, KY 42501 | Full Service B&M | $5,953 |
| United Cumberland Bank | 2828 Appalachian Hwy Jacksboro, TN 37757 | Full Service B&M | $27,463 |
| United Cumberland Bank | 3995 South Highway 27 Pine Knot, KY 42635 | Full Service B&M | $20,785 |
| United Cumberland Bank | 47 S Main St Whitley City, KY 42653 | Full Service B&M | $132,930 |
| United Cumberland Bank | 567 Howard H. Baker Highway Huntsville, TN 37756 | Full Service B&M | $15,966 |
For 2021, United Cumberland Bank had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $13,337 |
| Net interest income | $12,061 |
| Total noninterest income | $3,528 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,176 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,352 |
| Pre-tax net operating income | $5,409 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $5,293 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,293 |
| Minority interest net income | $0 |
| Net income | $5,293 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,293 |
United Cumberland Bank's gross interest income from loans was $13,337,000.
United Cumberland Bank's net interest income from loans was $12,061,000.
United Cumberland Bank's fee based income from loans was $1,176,000.
United Cumberland Bank's net income from loans was $5,293,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,276 |
| Provision for credit losses | $60 |
| Total noninterest expense | $10,120 |
| Salaries and employee benefits | $4,960 |
| Premises and equipment expense | $1,581 |
| Additional noninterest expense | $3,579 |
| Applicable income taxes | $116 |
| Net charge-offs | $-5 |
| Cash dividends | $3,400 |
United Cumberland Bank's interest expense for loans was $1,276,000.
United Cumberland Bank's payroll and benefits expense were $4,960,000.
United Cumberland Bank's property, plant and equipment expenses $1,581,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 1.0% |
| Nonfarm, nonresidential loans | 3.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 2.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| 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 | $323,343 |
| Deposits held in domestic offices | $323,343 |
| Deposits by Individuals, partnerships, and corporations | $282,086 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $41,257 |
| 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 | $156,721 |
| Demand deposits | $87,865 |
| Nontransaction accounts | $166,622 |
| Money market deposit accounts (MMDAs) | $15,108 |
| Other savings deposits (excluding MMDAs) | $61,476 |
| Total time deposits | $90,038 |
| Total time and savings deposits | $235,478 |
| Noninterest-bearing deposits | $87,815 |
| Interest-bearing deposits | $235,528 |
| Retail deposits | $305,172 |
| IRAs and Keogh plan accounts | $22,018 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $379,079 |
| Cash & Balances due from depository institutions | $60,573 |
| Interest-bearing balances | $52,130 |
| Total securities | $88,781 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $212,421 |
| Loan and leases loss allowance | $3,214 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,261 |
| Other real estate owned | $389 |
| Goodwill and other intangibles | $50 |
| All other assets | $10,604 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $379,079 |
| Total Liabilities | $336,579 |
| Total deposits | $323,343 |
| Interest-bearing deposits | $235,528 |
| Deposits held in domestic offices | $323,343 |
| % insured (estimated) | $87 |
| Federal funds purchased and repurchase agreements | $6,992 |
| Trading liabilities | $0 |
| Other borrowed funds | $5,507 |
| Subordinated debt | $0 |
| All other liabilities | $737 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $212,421 |
| Loan and leases loss allowance | $3,214 |
| Total loans and leases (domestic) | $215,635 |
| All real estate loans | $154,090 |
| Real estate loans in domestic offices | $154,090 |
| Construction and development loans | $11,221 |
| Residential 1-4 family construction | $4,082 |
| Other construction, all land development and other land | $7,139 |
| Loans secured by nonfarm nonresidential properties | $45,131 |
| Nonfarm nonresidential secured by owner-occupied properties | $26,132 |
| Commercial real estate & other non-farm, non-residential | $18,999 |
| Multifamily residential real estate | $4,435 |
| 1-4 family residential loans | $91,992 |
| Farmland loans | $1,311 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $29,885 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $32,304 |
| Credit card loans | $0 |
| Related Plans | $15 |
| Consumer Auto Loans | $12,500 |
| Other loans to individuals | $19,789 |
| All other loans & leases | $0 |
| 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 | $1,149 |
| Non 1-4 family restructured loans & leases | $1,149 |
| Total loans and leases (foreign) | $0 |
United Cumberland Bank had $212,421,000 of loans outstanding in 2021. $154,090,000 of loans were in real estate loans. $11,221,000 of loans were in development loans. $4,435,000 of loans were in multifamily mortgage loans. $91,992,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $12,500,000 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 | 107 | $15,755 | $147,243 |
| Nonfarm, nonresidential loans - <$100k | 45 | $1,989 | $44,200 |
| Nonfarm, nonresidential loans - $100-250k | 33 | $4,557 | $138,091 |
| Nonfarm, nonresidential loans - $250k-1MM | 29 | $9,209 | $317,552 |
| Commercial & Industrial, US addressed loans - <$1MM | 220 | $16,728 | $76,036 |
| Commercial & Industrial, US addressed loans - <$100k | 158 | $3,661 | $23,171 |
| Commercial & Industrial, US addressed loans - $100-250k | 37 | $3,561 | $96,243 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 25 | $9,506 | $380,240 |
| Farmland loans - <$1MM | 3 | $283 | $94,333 |
| Farmland loans - <$100k | 1 | $42 | $42,000 |
| Farmland loans - $100-250k | 2 | $241 | $120,500 |