Prime Meridian Bank Mortgage Rates, Fees & Info
Tallahassee, FLLEI: 549300SV2V1USGXBSB36
Tax ID: 26-0474086
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
Prime Meridian Bank is a smaller bank specializing in Home Purchase loans. Prime Meridian Bank has a high proportion of conventional loans. Their top markets by origination volume include: Tallahassee, Lakeland, Crestview, Key West, and Deltona among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Prime Meridian 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
129Origination Dollar Volume (All Markets)
$53,655,000Top 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 |
|---|---|---|---|---|---|
| TALLAHASSEE, FL (FHA|USDA|VA) | 88 | $30,280,000 | $344,091 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 17 | $8,545,000 | $502,647 | $0 | 0.00% |
| Outside of Metro Areas | 10 | $6,170,000 | $617,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $3,660,000 | $1,830,000 | $0 | 0.00% |
| Key West, FL (FHA|USDA|VA) | 2 | $1,990,000 | $995,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $970,000 | $485,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| Wauchula, FL (FHA|USDA|VA) | 3 | $465,000 | $155,000 | $0 | 0.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 129 | $53,655,000 | $415,930 | $0 | 0.00% |
For 2023, Prime Meridian Bank's most frequently originated type of loan was Conventional, with 129 originations.
Loan Reason
For 2023, Prime Meridian Bank's most frequently cited loan purpose was Home Purchase, with 110 originations. The 2nd most popular reason was Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 129 | $53,655,000 | $415,930 | $0 | 0.00% |
For 2023, Prime Meridian Bank's most frequently cited loan duration was Other, with 129 originations.
Loan Sizing
2023 saw Prime Meridian Bank place emphasis on $200k-400k loans with 43 originations, totaling $12,495,000 in origination value.
Applicant Income
Prime Meridian Bank lent most frequently to those with incomes in the $250k+ range, with 35 originations. The second most popular income band? $150k-250k, with 29 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 129 | $53,655,000 | $415,930 | $0 | 0.00% |
Prime Meridian Bank lent most frequently to those with DTI ratios of Exempt%, with 129 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.67%
Prime Meridian Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.27%
Prime Meridian Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 129 | $53,655,000 | $415,930 |