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, Key West, Crestview, and Tampa among others. We have data for 15 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
154Origination Dollar Volume (All Markets)
$62,230,000Top 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) | 108 | $36,760,000 | $340,370 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 12 | $5,300,000 | $441,667 | $0 | 0.00% |
| Key West, FL (FHA|USDA|VA) | 5 | $5,025,000 | $1,005,000 | $0 | 0.00% |
| Outside of Metro Areas | 8 | $3,460,000 | $432,500 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 5 | $3,285,000 | $657,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $1,975,000 | $658,333 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 3 | $1,965,000 | $655,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $1,600,000 | $800,000 | $0 | 0.00% |
| Bainbridge, GA (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Thomasville, GA (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $0 | 0.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Wauchula, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 154 | $62,230,000 | $404,091 | $0 | 0.00% |
For 2022, Prime Meridian Bank's most frequently originated type of loan was Conventional, with 154 originations.
Loan Reason
For 2022, Prime Meridian Bank's most frequently cited loan purpose was Home Purchase, with 125 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 154 | $62,230,000 | $404,091 | $0 | 0.00% |
For 2022, Prime Meridian Bank's most frequently cited loan duration was Other, with 154 originations.
Loan Sizing
2022 saw Prime Meridian Bank place emphasis on $100k-200k loans with 44 originations, totaling $6,570,000 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? $100k-150k, with 27 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 154 | $62,230,000 | $404,091 | $0 | 0.00% |
Prime Meridian Bank lent most frequently to those with DTI ratios of Exempt%, with 154 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.44%
Prime Meridian 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 origination85.06%
Prime Meridian Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 154 | $62,230,000 | $404,091 |