Brighton Bank Mortgage Rates, Fees & Info

Brighton, TN

LEI: 549300PXIFIEPL7D7R86

Tax ID: 62-0138830

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Mortgage Data

Bank Data

Review & 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 by origination volume include: Memphis, Nashville, Jackson, Philadelphia, and Dallas among others. We have data for 46 markets. (Some data included below & more in-depth data is available with an active subscription.)

Brighton Bank has an above 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

418

Origination Dollar Volume (All Markets)

$86,940,000

Employee count

25

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
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 205 $48,165,000 $234,951 $0 0.00%
Outside of Metro Areas 75 $12,055,000 $160,733 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 15 $3,885,000 $259,000 $0 0.00%
JACKSON, TN (FHA|USDA|VA) 16 $2,970,000 $185,625 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 14 $2,060,000 $147,143 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $1,825,000 $365,000 $0 0.00%
EVANSVILLE, IN-KY (FHA|USDA|VA) 28 $1,620,000 $57,857 $0 0.00%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 5 $975,000 $195,000 $0 0.00%
Dyersburg, TN (FHA|USDA|VA) 11 $905,000 $82,273 $0 0.00%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 4 $760,000 $190,000 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $650,000 $325,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $610,000 $305,000 $0 0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $595,000 $595,000 $0 0.00%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
Tupelo, MS (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
BOWLING GREEN, KY (FHA|USDA|VA) 2 $360,000 $180,000 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
Payson, AZ (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
BOISE CITY, ID (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
ALTOONA, PA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Branson, MO (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Holland, MI (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
ASHEVILLE, NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Marion, IN (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
BATON ROUGE, LA (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Corinth, MS (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Fort Dodge, IA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
ROCKY MOUNT, NC (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Martin, TN (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Brighton Bank's top markets include Memphis, Nashville, Jackson, Philadelphia, and Dallas among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 276 $57,420,000 $208,043 $0 0.00%
    FHA 69 $13,665,000 $198,043 $0 0.00%
    VA 40 $11,400,000 $285,000 $0 0.00%
    USDA 33 $4,455,000 $135,000 $0 0.00%

    For 2020, Brighton Bank's most frequently originated type of loan was Conventional, with 276 originations. Their 2nd most popular type was FHA, with 69 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 233 $45,095,000 $193,541 $0 0.00%
    Refi 133 $31,945,000 $240,188 $0 0.00%
    Cash Out Refi 48 $9,550,000 $198,958 $0 0.00%
    Other 4 $350,000 $87,500 $0 0.00%

    For 2020, Brighton Bank's most frequently cited loan purpose was Home Purchase, with 233 originations. The 2nd most popular reason was Refi, with 133 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 418 $86,940,000 $207,990 $0 0.00%

    For 2020, Brighton Bank's most frequently cited loan duration was Other, with 418 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 163 $44,975,000 $275,920 $0 0.00%
    $100k-200k 158 $23,780,000 $150,506 $0 0.00%
    $100,000 or less 67 $4,335,000 $64,701 $0 0.00%
    $400k-600k 30 $13,850,000 $461,667 $0 0.00%

    2020 saw Brighton Bank place emphasis on $200k-400k loans with 163 originations, totaling $44,975,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 96 $13,540,000 $141,042 $0 0.00%
    $50k-75k 83 $15,585,000 $187,771 $0 0.00%
    $100k-150k 81 $19,995,000 $246,852 $0 0.00%
    $75k-100k 68 $14,040,000 $206,471 $0 0.00%
    $150k-250k 49 $13,945,000 $284,592 $0 0.00%
    $250k+ 25 $8,695,000 $347,800 $0 0.00%

    Brighton Bank lent most frequently to those with incomes in the $50k or less range, with 96 originations. The second most popular income band? $50k-75k, with 83 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 418 $86,940,000 $207,990 $0 0.00%

    Brighton Bank lent most frequently to those with DTI ratios of Exempt%, with 418 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 322 $70,970,000 $220,404 $0 0.00%
    Black 55 $9,775,000 $177,727 $0 0.00%
    Asian 22 $4,180,000 $190,000 $0 0.00%
    Not applicable 15 $1,025,000 $68,333 $0 0.00%
    Native Hawaiian or Islander 2 $670,000 $335,000 $0 0.00%
    Not provided 2 $320,000 $160,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.54%

    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
    86.84%

    Brighton Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 418 $86,940,000 $207,990

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $500,000 $250,000
    Single Family (1-4 Units):Manufactured 3 $325,000 $108,333
    Single Family (1-4 Units):Site-Built 413 $86,115,000 $208,511

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Brightfunders, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Brightfunders, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Brighton Bank 7663 Highway 51 South Brighton, TN 38011 Full Service B&M $37,327

    For 2020, Brighton Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,004
    Net interest income $1,708
    Total noninterest income $3,881
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $89
    Trading account gains and fees $0
    Additional Noninterest Income $3,792
    Pre-tax net operating income $889
    Securities gains (or losses, -) $0
    Income before extraordinary items $889
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $889
    Minority interest net income $0
    Net income $889
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $889

    Brighton Bank's gross interest income from loans was $2,004,000.
    Brighton Bank's net interest income from loans was $1,708,000.
    Brighton Bank's fee based income from loans was $89,000.
    Brighton Bank's net income from loans was $889,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $296
    Provision for credit losses $147
    Total noninterest expense $4,553
    Salaries and employee benefits $2,470
    Premises and equipment expense $336
    Additional noninterest expense $1,747
    Applicable income taxes $0
    Net charge-offs $-3
    Cash dividends $0

    Brighton Bank's interest expense for loans was $296,000.
    Brighton Bank's payroll and benefits expense were $2,470,000.
    Brighton Bank's property, plant and equipment expenses $336,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 9.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 5.0%
    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 $48,108
    Deposits held in domestic offices $48,108
    Deposits by Individuals, partnerships, and corporations $43,716
    Deposits by U.S. Government $30
    Deposits by States and political subdivisions in the U.S. $1,408
    Deposits by Commercial banks and other depository institutions in U.S. $2,954
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $18,090
    Demand deposits $10,773
    Nontransaction accounts $30,018
    Money market deposit accounts (MMDAs) $2,133
    Other savings deposits (excluding MMDAs) $6,476
    Total time deposits $21,409
    Total time and savings deposits $37,335
    Noninterest-bearing deposits $10,819
    Interest-bearing deposits $37,289
    Retail deposits $43,840
    IRAs and Keogh plan accounts $2,268
    Brokered deposits $2,957
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $54,978
    Cash & Balances due from depository institutions $17,550
    Interest-bearing balances $16,404
    Total securities $5,307
    Federal funds sold & reverse repurchase $0
    Net loans and leases $30,531
    Loan and leases loss allowance $599
    Trading account assets $0
    Bank premises and fixed assets $871
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $719

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $54,977
    Total Liabilities $51,309
    Total deposits $48,108
    Interest-bearing deposits $37,289
    Deposits held in domestic offices $48,108
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,000
    Subordinated debt $0
    All other liabilities $201

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $30,531
    Loan and leases loss allowance $599
    Total loans and leases (domestic) $31,130
    All real estate loans $27,156
    Real estate loans in domestic offices $27,156
    Construction and development loans $810
    Residential 1-4 family construction $290
    Other construction, all land development and other land $520
    Loans secured by nonfarm nonresidential properties $7,718
    Nonfarm nonresidential secured by owner-occupied properties $5,476
    Commercial real estate & other non-farm, non-residential $2,242
    Multifamily residential real estate $353
    1-4 family residential loans $18,072
    Farmland loans $203
    Loans held in foreign offices $0
    Farm loans $183
    Commercial and industrial loans $3,403
    To non-U.S. addressees $0
    Loans to individuals $387
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $116
    Other loans to individuals $271
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Brighton Bank had $30,531,000 of loans outstanding in 2020. $27,156,000 of loans were in real estate loans. $810,000 of loans were in development loans. $353,000 of loans were in multifamily mortgage loans. $18,072,000 of loans were in 1-4 family mortgage loans. $183,000 of loans were in farm loans. $0 of loans were in credit card loans. $116,000 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 27 $7,718 $285,852
    Nonfarm, nonresidential loans - <$100k 2 $9 $4,500
    Nonfarm, nonresidential loans - $100-250k 8 $634 $79,250
    Nonfarm, nonresidential loans - $250k-1MM 17 $7,075 $416,176
    Commercial & Industrial, US addressed loans - <$1MM 33 $3,403 $103,121
    Commercial & Industrial, US addressed loans - <$100k 21 $336 $16,000
    Commercial & Industrial, US addressed loans - $100-250k 1 $147 $147,000
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $2,920 $265,455
    Farmland loans - <$1MM 3 $203 $67,667
    Farmland loans - <$100k 2 $91 $45,500
    Farmland loans - $100-250k 1 $112 $112,000
    Agriculture operations loans - <$1MM 4 $182 $45,500
    Agriculture operations loans - <$100k 2 $36 $18,000
    Agriculture operations loans - $100-250k 1 $65 $65,000
    Agriculture operations loans - $250k-1MM 1 $81 $81,000