Brighton Bank Mortgage Rates, Fees & Info

Brighton, TN

LEI: 549300PXIFIEPL7D7R86

Tax ID: 62-0138830

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Brighton Bank is a smaller bank specializing in Home Purchase and Refi loans. Brighton Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Memphis, Boston, Dallas, Jackson, and Nashville among others. Brighton Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

660

Origination Dollar Volume (All Markets)

$157,720,000

Employee count

36

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 265 $63,865,000 $241,000 $0 0.00%
Outside of Metro Areas 124 $18,640,000 $150,323 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 31 $12,245,000 $395,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 16 $5,500,000 $343,750 $0 0.00%
JACKSON, TN (FHA|USDA|VA) 22 $4,050,000 $184,091 $0 0.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 14 $3,940,000 $281,429 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 12 $3,510,000 $292,500 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 13 $3,505,000 $269,615 $0 0.00%
EVANSVILLE, IN-KY (FHA|USDA|VA) 28 $3,400,000 $121,429 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 8 $2,890,000 $361,250 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 6 $2,810,000 $468,333 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 8 $2,200,000 $275,000 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 5 $1,825,000 $365,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 6 $1,760,000 $293,333 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,510,000 $377,500 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $1,440,000 $360,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 4 $1,370,000 $342,500 $0 0.00%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 4 $1,200,000 $300,000 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $1,195,000 $398,333 $0 0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $1,130,000 $282,500 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,025,000 $341,667 $0 0.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 5 $985,000 $197,000 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 4 $970,000 $242,500 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $790,000 $395,000 $0 0.00%
Tupelo, MS (FHA|USDA|VA) 4 $720,000 $180,000 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $650,000 $325,000 $0 0.00%
Concord, NH (FHA|USDA|VA) 2 $580,000 $290,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
PITTSFIELD, MA (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $535,000 $535,000 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $500,000 $250,000 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
Holland, MI (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
ANN ARBOR, MI (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
Montrose, CO (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
Cookeville, TN (FHA|USDA|VA) 2 $360,000 $180,000 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $360,000 $180,000 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
BOISE CITY, ID (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
Batesville, AR (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
GETTYSBURG, PA (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
BANGOR, ME (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
FAYETTEVILLE, NC (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
HOT SPRINGS, AR (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
CORPUS CHRISTI, TX (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Corinth, MS (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Torrington, CT (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
NILES, MI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Paris, TN (FHA|USDA|VA) 2 $190,000 $95,000 $0 0.00%
Mount Pleasant, MI (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
MUSKEGON, MI (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
JACKSON, MS (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
BOWLING GREEN, KY (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Mountain Home, AR (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
DECATUR, IL (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Brownsville, TN (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
ALBANY, GA (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Madisonville, KY (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%

Brighton Bank's top markets include Memphis, Boston, Dallas, Jackson, and Nashville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 468 $117,180,000 $250,385 $0 0.00%
FHA 87 $17,455,000 $200,632 $0 0.00%
USDA 62 $8,020,000 $129,355 $0 0.00%
VA 43 $15,065,000 $350,349 $0 0.00%

For the 2021 period, Brighton Bank's most frequently originated loan type of loans were Conventional, with 468 originations. Their 2nd most popular type is FHA, with 87 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 393 $92,885,000 $236,349 $0 0.00%
Refi 141 $36,275,000 $257,270 $0 0.00%
Cash Out Refi 120 $27,490,000 $229,083 $0 0.00%
Home Improvement 3 $455,000 $151,667 $0 0.00%
Other 3 $615,000 $205,000 $0 0.00%

For the 2021, Brighton Bank's most frequently cited loan purpose of loans were Home Purchase, with 393 originations. The 2nd most popular reason of loans were Refi, with 141 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 660 $157,720,000 $238,970 $0 0.00%

For the 2021, Brighton Bank's most frequently cited loan length of loans were Other, with 660 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 274 $77,300,000 $282,117 $0 0.00%
$100k-200k 200 $30,050,000 $150,250 $0 0.00%
$100,000 or less 98 $7,090,000 $72,347 $0 0.00%
$400k-600k 84 $39,790,000 $473,690 $0 0.00%
$600k-1MM 3 $1,995,000 $665,000 $0 0.00%
$1MM+ 1 $1,495,000 $1,495,000 $0 0.00%

2021 saw Brighton Bank place emphasis on $200k-400k loans with 274 originations, totaling $77,300,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 145 $28,575,000 $197,069 $0 0.00%
$50k or less 124 $17,270,000 $139,274 $0 0.00%
$100k-150k 123 $36,095,000 $293,455 $0 0.00%
$75k-100k 107 $26,065,000 $243,598 $0 0.00%
$150k-250k 97 $33,195,000 $342,216 $0 0.00%
$250k+ 47 $14,785,000 $314,574 $0 0.00%

Brighton Bank lent most frequently to those with incomes in the $50k-75k range, with 145 originations. The second most popular income band? $50k or less, with 124 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 660 $157,720,000 $238,970 $0 0.00%

Brighton Bank lent most frequently to those with DTI ratios of Exempt%, with 660 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 481 $116,215,000 $241,611 $0 0.00%
Black 78 $17,070,000 $218,846 $0 0.00%
Not provided 42 $12,460,000 $296,667 $0 0.00%
Asian 37 $9,215,000 $249,054 $0 0.00%
Not applicable 17 $1,735,000 $102,059 $0 0.00%
Native Hawaiian 2 $560,000 $280,000 $0 0.00%
American Indian 2 $410,000 $205,000 $0 0.00%
Filipino 1 $55,000 $55,000 $0 0.00%

Approval Rates

Total approvals of all applications
97.08%

Brighton Bank 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
79.35%

Brighton Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 660 $157,720,000 $238,970

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
660 $157,720,000 $238,970

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Brightfunders, LLC VA mortgage Closing on a mortgage 2 5.4%
Brightfunders, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 27.0%
Brightfunders, LLC Conventional home mortgage Closing on a mortgage 3 8.1%
Brightfunders, LLC Conventional home mortgage Trouble during payment process 9 24.3%
Brightfunders, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 8.1%
Brightfunders, LLC FHA mortgage Trouble during payment process 1 2.7%
Brightfunders, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 5.4%
Brightfunders, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 3 8.1%
Brightfunders, LLC Other type of mortgage Closing on a mortgage 2 5.4%
Brightfunders, LLC Other type of mortgage Trouble during payment process 2 5.4%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Brighton Bank 7663 Highway 51 South Brighton, TN 38011 Full Service B&M $52,538

For 2021, Brighton Bank had 1 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $1,892
Net interest income $1,515
Total noninterest income $6,034
Gross Fiduciary activities income $0
Service charges on deposit accounts $88
Trading account gains and fees $0
Additional Noninterest Income $5,946
Pre-tax net operating income $1,339
Securities gains (or losses, -) $0
Income before extraordinary items $1,339
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $1,339
Minority interest net income $0
Net income $1,339
Sale, conversion, retirement of capital stock, net $0
Net operating income $1,339

Brighton Bank's gross interest income from loans was $1,892,000.
Brighton Bank's net interest income from loans was $1,515,000.
Brighton Bank's fee based income from loans was $88,000.
Brighton Bank's net income from loans was $1,339,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $377
Provision for credit losses $0
Total noninterest expense $6,210
Salaries and employee benefits $3,562
Premises and equipment expense $244
Additional noninterest expense $2,404
Applicable income taxes $0
Net charge-offs $111
Cash dividends $0

Brighton Bank's interest expense for loans was $377,000.
Brighton Bank's payroll and benefits expense were $3,562,000.
Brighton Bank's property, plant and equipment expenses $244,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 2.0%
Real Estate loans 2.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 7.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 0.0%
All other family 1.0%
Commercial & industrial loans 3.0%
Personal loans 0.0%
Credit card loans 0.0%
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 $57,454
Deposits held in domestic offices $57,454
Deposits by Individuals, partnerships, and corporations $54,485
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $0
Deposits by Commercial banks and other depository institutions in U.S. $2,969
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $20,786
Demand deposits $11,370
Nontransaction accounts $36,668
Money market deposit accounts (MMDAs) $3,559
Other savings deposits (excluding MMDAs) $10,620
Total time deposits $22,489
Total time and savings deposits $46,084
Noninterest-bearing deposits $11,370
Interest-bearing deposits $46,084
Retail deposits $53,107
IRAs and Keogh plan accounts $2,733
Brokered deposits $2,969
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $65,412
Cash & Balances due from depository institutions $29,839
Interest-bearing balances $28,844
Total securities $4,925
Federal funds sold & reverse repurchase $0
Net loans and leases $29,046
Loan and leases loss allowance $455
Trading account assets $0
Bank premises and fixed assets $872
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $730

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $65,412
Total Liabilities $60,632
Total deposits $57,454
Interest-bearing deposits $46,084
Deposits held in domestic offices $57,454
% insured (estimated) $86
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $3,000
Subordinated debt $0
All other liabilities $178

Issued Loan Types

Type Value (in 000's)
Net loans and leases $29,046
Loan and leases loss allowance $455
Total loans and leases (domestic) $29,501
All real estate loans $25,301
Real estate loans in domestic offices $25,301
Construction and development loans $798
Residential 1-4 family construction $786
Other construction, all land development and other land $12
Loans secured by nonfarm nonresidential properties $4,511
Nonfarm nonresidential secured by owner-occupied properties $2,249
Commercial real estate & other non-farm, non-residential $2,262
Multifamily residential real estate $343
1-4 family residential loans $19,462
Farmland loans $187
Loans held in foreign offices $0
Farm loans $126
Commercial and industrial loans $3,783
To non-U.S. addressees $0
Loans to individuals $291
Credit card loans $0
Related Plans $0
Consumer Auto Loans $77
Other loans to individuals $214
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 $52
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Brighton Bank had $29,046,000 of loans outstanding in 2021. $25,301,000 of loans were in real estate loans. $798,000 of loans were in development loans. $343,000 of loans were in multifamily mortgage loans. $19,462,000 of loans were in 1-4 family mortgage loans. $126,000 of loans were in farm loans. $0 of loans were in credit card loans. $77,000 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 16 $4,510 $281,875
Nonfarm, nonresidential loans - $100-250k 4 $485 $121,250
Nonfarm, nonresidential loans - $250k-1MM 11 $4,025 $365,909
Commercial & Industrial, US addressed loans - <$1MM 26 $3,296 $126,769
Commercial & Industrial, US addressed loans - <$100k 15 $294 $19,600
Commercial & Industrial, US addressed loans - $100-250k 2 $340 $170,000
Commercial & Industrial, US addressed loans - $250k-1MM 9 $2,662 $295,778
Farmland loans - <$1MM 2 $187 $93,500
Farmland loans - <$100k 1 $81 $81,000
Farmland loans - $100-250k 1 $106 $106,000
Agriculture operations loans - <$1MM 4 $125 $31,250
Agriculture operations loans - <$100k 2 $29 $14,500
Agriculture operations loans - $100-250k 1 $54 $54,000
Agriculture operations loans - $250k-1MM 1 $42 $42,000