The First National Bank Of Middle Tennessee Mortgage Rates, Fees & Info

McMinnville, TN

LEI: 549300RP3DLR09NF6157

Tax ID: 62-1203303

5 stars - out of 5 stars, based on 37 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The First National Bank Of Middle Tennessee is a smaller bank specializing in Home Purchase and Refi loans. The First National Bank Of Middle Tennessee has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Nashville, Mcminnville, Shelbyville, Tullahoma, and Jackson among others. The First National Bank Of Middle Tennessee 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. The First National Bank Of Middle Tennessee is typically an average fee lendor.


Originations

1,349

Origination Dollar Volume (All Markets)

$356,475,000

Employee count

140 Show all (11) awards

Relative Rate

The First National Bank Of Middle Tennessee's average 30 year fixed rate mortgage of loans were 3.18%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.03%.

Relative Fees

The First National Bank Of Middle Tennessee's average total fees for a 30 year fixed rate mortgage are $4,170.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 789 $232,225,000 $294,328 $3,978 3.20%
McMinnville, TN (FHA|USDA|VA) 131 $23,985,000 $183,092 $3,204 3.24%
Shelbyville, TN (FHA|USDA|VA) 87 $20,615,000 $236,954 $3,799 3.14%
Outside of Metro Areas 78 $16,020,000 $205,385 $3,641 3.05%
Tullahoma-Manchester, TN (FHA|USDA|VA) 48 $11,770,000 $245,208 $3,862 3.29%
JACKSON, TN (FHA|USDA|VA) 41 $6,305,000 $153,780 $3,554 2.81%
Lewisburg, TN (FHA|USDA|VA) 26 $6,300,000 $242,308 $3,664 2.90%
Lawrenceburg, TN (FHA|USDA|VA) 26 $5,500,000 $211,538 $4,797 2.81%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 20 $5,480,000 $274,000 $4,495 3.49%
Cookeville, TN (FHA|USDA|VA) 10 $2,180,000 $218,000 $4,597 3.43%
Dayton, TN (FHA|USDA|VA) 12 $2,090,000 $174,167 $4,032 2.96%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $1,925,000 $1,925,000 $14,340 3.25%
KNOXVILLE, TN (FHA|USDA|VA) 9 $1,735,000 $192,778 $4,798 2.74%
HUNTSVILLE, AL (FHA|USDA|VA) 7 $1,715,000 $245,000 $4,116 2.91%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $1,455,000 $1,455,000 $4,901 3.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 6 $1,290,000 $215,000 $3,745 2.98%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 4 $1,280,000 $320,000 $3,433 2.81%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,000,000 $500,000 $3,894 3.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $975,000 $325,000 $4,172 3.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $810,000 $405,000 $5,654 3.56%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 3 $805,000 $268,333 $3,857 2.75%
TUSCALOOSA, AL (FHA|USDA|VA) 4 $720,000 $180,000 $3,639 2.84%
PANAMA CITY, FL (FHA|USDA|VA) 2 $670,000 $335,000 $4,354 2.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $640,000 $320,000 $6,243 2.81%
Cullman, AL (FHA|USDA|VA) 1 $585,000 $585,000 $2,719 3.00%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 1 $585,000 $585,000 $6,272 2.88%
Sevierville, TN (FHA|USDA|VA) 2 $530,000 $265,000 $3,820 2.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $515,000 $515,000 $5,451 2.63%
ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $465,000 $155,000 $2,324 2.71%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $445,000 $445,000 $4,993 3.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $435,000 $435,000 $18,672 2.63%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $420,000 $210,000 $3,256 2.75%
Truckee-Grass Valley, CA (FHA|USDA|VA) 1 $405,000 $405,000 $3,455 2.88%
Greeneville, TN (FHA|USDA|VA) 1 $395,000 $395,000 $3,381 3.13%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $385,000 $385,000 $4,684 2.88%
TUCSON, AZ (FHA|USDA|VA) 1 $315,000 $315,000 $3,427 3.25%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $275,000 $275,000 $3,176 3.00%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $265,000 $265,000 $1,034 3.00%
Paris, TN (FHA|USDA|VA) 2 $260,000 $130,000 $2,230 2.75%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $255,000 $255,000 $7,573 2.75%
Crossville, TN (FHA|USDA|VA) 2 $250,000 $125,000 $2,126 2.63%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $235,000 $235,000 $3,284 3.13%
CLEVELAND, TN (FHA|USDA|VA) 1 $235,000 $235,000 $4,457 3.00%
Athens, TN (FHA|USDA|VA) 1 $225,000 $225,000 $5,580 3.00%
ANN ARBOR, MI (FHA|USDA|VA) 1 $225,000 $225,000 $2,494 2.25%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.63%
LAFAYETTE, LA (FHA|USDA|VA) 1 $195,000 $195,000 $7,774 2.38%
COLUMBIA, SC (FHA|USDA|VA) 1 $175,000 $175,000 $2,372 3.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $165,000 $165,000 $0 2.88%
Bluefield, WV-VA (FHA|USDA|VA) 1 $155,000 $155,000 $5,470 3.13%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $155,000 $155,000 $3,126 2.88%
MOBILE, AL (FHA|USDA|VA) 1 $125,000 $125,000 $2,491 3.00%
JOPLIN, MO (FHA|USDA|VA) 1 $105,000 $105,000 $873 2.25%

The First National Bank Of Middle Tennessee's top markets include Nashville, Mcminnville, Shelbyville, Tullahoma, and Jackson among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,090 $288,000,000 $264,220 $3,155 3.24%
FHA 124 $31,160,000 $251,290 $7,789 2.85%
VA 69 $23,145,000 $335,435 $6,034 2.65%
USDA 66 $14,170,000 $214,697 $5,321 2.84%

For the 2021 period, The First National Bank Of Middle Tennessee's most frequently originated loan type of loans were Conventional, with 1,090 originations. Their 2nd most popular type is FHA, with 124 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 735 $204,105,000 $277,694 $4,416 3.30%
Refi 370 $97,610,000 $263,811 $3,011 2.94%
Cash Out Refi 240 $54,670,000 $227,792 $3,678 3.02%
Home Improvement 4 $90,000 $22,500 $1,284 4.26%

For the 2021, The First National Bank Of Middle Tennessee's most frequently cited loan purpose of loans were Home Purchase, with 735 originations. The 2nd most popular reason of loans were Refi, with 370 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,046 $295,140,000 $282,161 $4,170 3.18%
15 Year 138 $25,740,000 $186,522 $2,905 2.53%
20 Year 69 $15,275,000 $221,377 $2,460 3.40%
10 Year 40 $9,020,000 $225,500 $2,613 3.32%
Other 31 $5,745,000 $185,323 $2,496 3.58%
5 Year 14 $3,290,000 $235,000 $960 4.09%
1 Year 10 $2,250,000 $225,000 $2,105 3.98%
3 Year 1 $15,000 $15,000 $1,152 4.00%

For the 2021, The First National Bank Of Middle Tennessee's most frequently cited loan length of loans were 30 Year, with 1,046 originations. The 2nd most popular length of loans were 15 Year, with 138 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 940 $247,770,000 $263,585
$1k-2k 186 $41,750,000 $224,462
$2k-3k 63 $14,625,000 $232,143
$3k-4k 44 $15,410,000 $350,227
$5k+ 13 $8,255,000 $635,000

$4,170 of loans were The First National Bank Of Middle Tennessee's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 940 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 575 $159,685,000 $277,713
2.5-3% 529 $137,615,000 $260,142
<2.5% 176 $41,990,000 $238,580
4-5% 65 $16,875,000 $259,615
5-6% 4 $310,000 $77,500

During 2021, The First National Bank Of Middle Tennessee's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 575 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 674 $188,250,000 $279,303 $4,223 3.17%
$100k-200k 409 $62,755,000 $153,435 $3,116 3.08%
$400k-600k 144 $68,700,000 $477,083 $4,818 3.13%
$100,000 or less 92 $6,650,000 $72,283 $2,394 3.35%
$600k-1MM 20 $14,090,000 $704,500 $6,220 3.38%
$1MM+ 10 $16,030,000 $1,603,000 $8,772 3.29%

2021 saw The First National Bank Of Middle Tennessee place emphasis on $200k-400k loans with 674 originations, totaling $188,250,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 395 $88,415,000 $223,835 $3,934 3.19%
$50k or less 265 $45,565,000 $171,943 $3,464 3.21%
$75k-100k 233 $60,905,000 $261,395 $4,088 3.15%
$100k-150k 226 $68,480,000 $303,009 $3,977 3.09%
$150k-250k 109 $40,485,000 $371,422 $4,114 3.05%
$250k+ 57 $26,915,000 $472,193 $4,925 3.22%

The First National Bank Of Middle Tennessee lent most frequently to those with incomes in the $50k-75k range, with 395 originations. The second most popular income band? $50k or less, with 265 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 302 $73,990,000 $245,000 $3,201 3.05%
30-36% 242 $65,220,000 $269,504 $4,022 3.14%
<20% 99 $25,755,000 $260,152 $3,172 2.95%
44% 58 $15,540,000 $267,931 $4,132 3.19%
38% 57 $14,985,000 $262,895 $4,048 3.15%
41% 53 $13,515,000 $255,000 $4,428 3.23%
39% 50 $13,650,000 $273,000 $3,608 3.21%
43% 47 $13,155,000 $279,894 $3,938 3.18%
40% 46 $10,960,000 $238,261 $3,265 3.31%
36% 44 $9,730,000 $221,136 $3,618 3.49%
37% 40 $9,340,000 $233,500 $4,063 3.18%
47% 38 $9,870,000 $259,737 $4,184 3.20%
50-60% 38 $10,980,000 $288,947 $7,726 2.88%
45% 36 $9,480,000 $263,333 $4,019 3.22%
42% 34 $10,200,000 $300,000 $3,635 3.23%
46% 34 $9,040,000 $265,882 $5,570 3.02%
48% 28 $7,450,000 $266,071 $4,433 3.07%
49% 19 $5,085,000 $267,632 $4,673 3.07%
>60% 3 $965,000 $321,667 $2,422 3.04%

The First National Bank Of Middle Tennessee lent most frequently to those with DTI ratios of 20-30%, with 302 originations. The next most common DTI ratio? 30-36%, with 242 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,229 $315,495,000 $256,709 $3,787 3.15%
Black 62 $18,180,000 $293,226 $6,187 3.03%
Not applicable 21 $12,565,000 $598,333 $0 3.90%
Not provided 17 $4,575,000 $269,118 $3,446 3.13%
Asian 13 $3,615,000 $278,077 $4,255 2.99%
American Indian 4 $1,270,000 $317,500 $2,835 3.22%
Asian Indian 2 $530,000 $265,000 $3,251 2.81%
Other Asian 1 $245,000 $245,000 $0 3.59%

Approval Rates

Total approvals of all applications
94.52%

The First National Bank Of Middle Tennessee has an average approval rate.

Pick Rate

Approvals leading to origination
84.24%

The First National Bank Of Middle Tennessee has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,349 $356,475,000 $264,251

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,349 $356,475,000 $264,251

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 66 $10,040,000 $152,121 $2,589 2.88%
40-60% 170 $36,170,000 $212,765 $3,022 2.89%
60-80% 416 $113,130,000 $271,947 $3,311 3.11%
80-100% 674 $191,970,000 $284,822 $4,387 3.27%
Over 100% 12 $4,360,000 $363,333 $14,720 2.70%
Under 20% 11 $805,000 $73,182 $1,928 4.11%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The First National Bank of Middle Tennessee 1408 Sparta Street Mcminnville, TN 37110 Full Service B&M $13,199
The First National Bank of Middle Tennessee 3 Lynn Street Viola, TN 37394 Full Service B&M $6,069
The First National Bank of Middle Tennessee 3427 Memorial Blvd Murfreesboro, TN 37129 Full Service B&M $21,171
The First National Bank of Middle Tennessee 917 Smithville Highway Mcminnville, TN 37110 Full Service B&M $41,544
The First National Bank of Middle Tennessee 9970 Manchester Highway Morrison, TN 37357 Full Service B&M $25,053
The First National Bank of Middle Tennessee 1700 N Main St Shelbyville, TN 37160 Full Service Cyber Office $6,144
The First National Bank of Middle Tennessee 1708 Gateway Blvd Murfreesboro, TN 37129 Full Service B&M $38,092
The First National Bank of Middle Tennessee 1911 21st Ave South Nashville, TN 37212 Full Service B&M $9,650
The First National Bank of Middle Tennessee 200 East Main Street Mcminnville, TN 37110 Full Service B&M $335,897

For 2021, The First National Bank Of Middle Tennessee had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $20,327
Net interest income $17,342
Total noninterest income $12,168
Gross Fiduciary activities income $157
Service charges on deposit accounts $673
Trading account gains and fees $0
Additional Noninterest Income $11,338
Pre-tax net operating income $9,027
Securities gains (or losses, -) $67
Income before extraordinary items $7,304
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $7,304
Minority interest net income $0
Net income $7,304
Sale, conversion, retirement of capital stock, net $0
Net operating income $7,250

The First National Bank Of Middle Tennessee's gross interest income from loans was $20,327,000.
The First National Bank Of Middle Tennessee's net interest income from loans was $17,342,000.
The First National Bank Of Middle Tennessee's fee based income from loans was $673,000.
The First National Bank Of Middle Tennessee's net income from loans was $7,304,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,985
Provision for credit losses $950
Total noninterest expense $19,533
Salaries and employee benefits $13,048
Premises and equipment expense $1,290
Additional noninterest expense $5,195
Applicable income taxes $1,790
Net charge-offs $-79
Cash dividends $2,956

The First National Bank Of Middle Tennessee's interest expense for loans was $2,985,000.
The First National Bank Of Middle Tennessee's payroll and benefits expense were $13,048,000.
The First National Bank Of Middle Tennessee's property, plant and equipment expenses $1,290,000.

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 0.0%
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 $580,053
Deposits held in domestic offices $580,053
Deposits by Individuals, partnerships, and corporations $540,710
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $39,101
Deposits by Commercial banks and other depository institutions in U.S. $242
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $260,614
Demand deposits $208,632
Nontransaction accounts $319,439
Money market deposit accounts (MMDAs) $89,312
Other savings deposits (excluding MMDAs) $78,067
Total time deposits $152,060
Total time and savings deposits $371,421
Noninterest-bearing deposits $88,224
Interest-bearing deposits $491,829
Retail deposits $521,880
IRAs and Keogh plan accounts $25,253
Brokered deposits $6,965
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $693,921
Cash & Balances due from depository institutions $78,780
Interest-bearing balances $73,165
Total securities $64,766
Federal funds sold & reverse repurchase $0
Net loans and leases $511,609
Loan and leases loss allowance $5,023
Trading account assets $0
Bank premises and fixed assets $8,025
Other real estate owned $0
Goodwill and other intangibles $195
All other assets $30,546

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $693,921
Total Liabilities $618,164
Total deposits $580,053
Interest-bearing deposits $491,829
Deposits held in domestic offices $580,053
% insured (estimated) $66
Federal funds purchased and repurchase agreements $17,526
Trading liabilities $0
Other borrowed funds $15,000
Subordinated debt $0
All other liabilities $5,585

Issued Loan Types

Type Value (in 000's)
Net loans and leases $511,609
Loan and leases loss allowance $5,023
Total loans and leases (domestic) $516,632
All real estate loans $476,418
Real estate loans in domestic offices $476,418
Construction and development loans $71,567
Residential 1-4 family construction $27,061
Other construction, all land development and other land $44,506
Loans secured by nonfarm nonresidential properties $187,693
Nonfarm nonresidential secured by owner-occupied properties $88,378
Commercial real estate & other non-farm, non-residential $99,315
Multifamily residential real estate $7,685
1-4 family residential loans $202,831
Farmland loans $6,642
Loans held in foreign offices $0
Farm loans $5
Commercial and industrial loans $34,819
To non-U.S. addressees $0
Loans to individuals $1,637
Credit card loans $0
Related Plans $0
Consumer Auto Loans $1,277
Other loans to individuals $360
All other loans & leases $3,754
Loans to foreign governments and official institutions $0
Other loans $3,754
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

The First National Bank of Middle Tennessee had $511,609,000 of loans outstanding in 2021. $476,418,000 of loans were in real estate loans. $71,567,000 of loans were in development loans. $7,685,000 of loans were in multifamily mortgage loans. $202,831,000 of loans were in 1-4 family mortgage loans. $5,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,277,000 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 146 $46,731 $320,075
Nonfarm, nonresidential loans - <$100k 41 $1,956 $47,707
Nonfarm, nonresidential loans - $100-250k 26 $4,565 $175,577
Nonfarm, nonresidential loans - $250k-1MM 79 $40,210 $508,987
Commercial & Industrial, US addressed loans - <$1MM 99 $14,399 $145,444
Commercial & Industrial, US addressed loans - <$100k 62 $2,513 $40,532
Commercial & Industrial, US addressed loans - $100-250k 20 $3,133 $156,650
Commercial & Industrial, US addressed loans - $250k-1MM 17 $8,753 $514,882
Farmland loans - <$1MM 36 $4,091 $113,639
Farmland loans - <$100k 20 $992 $49,600
Farmland loans - $100-250k 12 $1,883 $156,917
Farmland loans - $250k-1MM 4 $1,216 $304,000
Agriculture operations loans - <$1MM 2 $5 $2,500
Agriculture operations loans - <$100k 2 $5 $2,500