Prime Meridian Bank Mortgage Rates, Fees & Info

Tallahassee, FL

LEI: 549300SV2V1USGXBSB36

Tax ID: 26-0474086

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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

129

Origination Dollar Volume (All Markets)

$53,655,000

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
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%
Prime Meridian Bank's top markets include Tallahassee, Lakeland, Crestview, Key West, and Deltona among others.

Their top states include:
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • 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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 110 $48,270,000 $438,818 $0 0.00%
    Refi 9 $3,565,000 $396,111 $0 0.00%
    Home Improvement 7 $1,565,000 $223,571 $0 0.00%
    Other 2 $120,000 $60,000 $0 0.00%
    Cash Out Refi 1 $135,000 $135,000 $0 0.00%

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 43 $12,495,000 $290,581 $0 0.00%
    $100k-200k 35 $5,105,000 $145,857 $0 0.00%
    $400k-600k 22 $10,650,000 $484,091 $0 0.00%
    $100,000 or less 10 $710,000 $71,000 $0 0.00%
    $600k-1MM 10 $8,070,000 $807,000 $0 0.00%
    $1MM+ 9 $16,625,000 $1,847,222 $0 0.00%

    2023 saw Prime Meridian Bank place emphasis on $200k-400k loans with 43 originations, totaling $12,495,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 35 $24,515,000 $700,429 $0 0.00%
    $150k-250k 29 $8,485,000 $292,586 $0 0.00%
    $100k-150k 27 $7,565,000 $280,185 $0 0.00%
    $75k-100k 16 $2,960,000 $185,000 $0 0.00%
    $50k-75k 7 $1,475,000 $210,714 $0 0.00%
    $50k or less 3 $465,000 $155,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 68 $27,410,000 $403,088 $0 0.00%
    Not provided 35 $12,025,000 $343,571 $0 0.00%
    Not applicable 12 $8,190,000 $682,500 $0 0.00%
    Black 11 $4,885,000 $444,091 $0 0.00%
    Asian 3 $1,145,000 $381,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.67%

    Prime Meridian Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.27%

    Prime Meridian Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 129 $53,655,000 $415,930

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    129 $53,655,000 $415,930