Bank Of Monticello Mortgage Rates, Fees & Info

Monticello, GA

LEI: 549300TAFYLARKCKJ639

Tax ID: 58-0356515

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Mortgage Data

Bank Data

Review & Overview

Bank Of Monticello is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Monticello has a high proportion of conventional loans. Their top markets by origination volume include: Atlanta, Panama City, Macon, and Jefferson among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bank Of Monticello has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

86

Origination Dollar Volume (All Markets)

$8,160,000

Employee count

23

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
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 76 $6,890,000 $90,658 $0 0.00%
Outside of Metro Areas 5 $365,000 $73,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 3 $325,000 $108,333 $0 0.00%
Jefferson, GA (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Bank Of Monticello's top markets include Atlanta, Panama City, Macon, and Jefferson among others.

Their top states include:
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $8,160,000 $94,884 $0 0.00%

    For 2018, Bank Of Monticello's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 44 $4,010,000 $91,136 $0 0.00%
    Home Purchase 28 $3,550,000 $126,786 $0 0.00%
    Home Improvement 11 $505,000 $45,909 $0 0.00%
    Other 3 $95,000 $31,667 $0 0.00%

    For 2018, Bank Of Monticello's most frequently cited loan purpose was Refi, with 44 originations. The 2nd most popular reason was Home Purchase, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 86 $8,160,000 $94,884 $0 0.00%

    For 2018, Bank Of Monticello's most frequently cited loan duration was Other, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 58 $2,510,000 $43,276 $0 0.00%
    $100k-200k 19 $2,665,000 $140,263 $0 0.00%
    $200k-400k 7 $1,905,000 $272,143 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%
    $600k-1MM 1 $675,000 $675,000 $0 0.00%

    2018 saw Bank Of Monticello place emphasis on $100,000 or less loans with 58 originations, totaling $2,510,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 26 $1,620,000 $62,308 $0 0.00%
    $50k-75k 23 $1,725,000 $75,000 $0 0.00%
    $75k-100k 10 $480,000 $48,000 $0 0.00%
    $100k-150k 9 $1,145,000 $127,222 $0 0.00%
    $150k-250k 7 $1,495,000 $213,571 $0 0.00%
    $250k+ 2 $1,020,000 $510,000 $0 0.00%

    Bank Of Monticello lent most frequently to those with incomes in the $50k or less range, with 26 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 86 $8,160,000 $94,884 $0 0.00%

    Bank Of Monticello lent most frequently to those with DTI ratios of Exempt%, with 86 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 68 $7,160,000 $105,294 $0 0.00%
    Black 13 $655,000 $50,385 $0 0.00%
    Not applicable 5 $345,000 $69,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.91%

    Bank Of Monticello 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
    90.70%

    Bank Of Monticello has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 86 $8,160,000 $94,884

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $95,000 $95,000
    Single Family (1-4 Units):Manufactured 20 $1,000,000 $50,000
    Single Family (1-4 Units):Site-Built 65 $7,065,000 $108,692

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Monticello 141 Green Street Monticello, GA 31064 Full Service B&M $96,819

    For 2018, Bank Of Monticello had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,742
    Net interest income $4,310
    Total noninterest income $587
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $210
    Trading account gains and fees $0
    Additional Noninterest Income $377
    Pre-tax net operating income $1,504
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,504
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,504
    Minority interest net income $0
    Net income $1,504
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,504

    Bank Of Monticello's gross interest income from loans was $4,742,000.
    Bank Of Monticello's net interest income from loans was $4,310,000.
    Bank Of Monticello's fee based income from loans was $210,000.
    Bank Of Monticello's net income from loans was $1,504,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $432
    Provision for credit losses $155
    Total noninterest expense $3,238
    Salaries and employee benefits $1,785
    Premises and equipment expense $274
    Additional noninterest expense $1,179
    Applicable income taxes $0
    Net charge-offs $122
    Cash dividends $613

    Bank Of Monticello's interest expense for loans was $432,000.
    Bank Of Monticello's payroll and benefits expense were $1,785,000.
    Bank Of Monticello's property, plant and equipment expenses $274,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 3.0%
    Commercial & industrial loans 1.0%
    Personal loans 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 2.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $97,045
    Deposits held in domestic offices $97,045
    Deposits by Individuals, partnerships, and corporations $84,772
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $12,274
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $28,096
    Demand deposits $15,327
    Nontransaction accounts $68,950
    Money market deposit accounts (MMDAs) $30,205
    Other savings deposits (excluding MMDAs) $8,069
    Total time deposits $30,676
    Total time and savings deposits $81,719
    Noninterest-bearing deposits $15,327
    Interest-bearing deposits $81,718
    Retail deposits $95,075
    IRAs and Keogh plan accounts $5,758
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $108,667
    Cash & Balances due from depository institutions $18,566
    Interest-bearing balances $16,289
    Total securities $17,544
    Federal funds sold & reverse repurchase $1,205
    Net loans and leases $67,489
    Loan and leases loss allowance $527
    Trading account assets $0
    Bank premises and fixed assets $996
    Other real estate owned $69
    Goodwill and other intangibles $0
    All other assets $2,798

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $108,667
    Total Liabilities $97,938
    Total deposits $97,045
    Interest-bearing deposits $81,718
    Deposits held in domestic offices $97,045
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $893

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $67,489
    Loan and leases loss allowance $527
    Total loans and leases (domestic) $68,016
    All real estate loans $52,317
    Real estate loans in domestic offices $52,317
    Construction and development loans $8,238
    Residential 1-4 family construction $2,825
    Other construction, all land development and other land $5,413
    Loans secured by nonfarm nonresidential properties $10,686
    Nonfarm nonresidential secured by owner-occupied properties $8,373
    Commercial real estate & other non-farm, non-residential $2,313
    Multifamily residential real estate $86
    1-4 family residential loans $30,596
    Farmland loans $2,711
    Loans held in foreign offices $0
    Farm loans $748
    Commercial and industrial loans $7,625
    To non-U.S. addressees $0
    Loans to individuals $7,317
    Credit card loans $0
    Related Plans $98
    Consumer Auto Loans $2,347
    Other loans to individuals $4,872
    All other loans & leases $8
    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

    Bank of Monticello had $67,489,000 of loans outstanding in 2018. $52,317,000 of loans were in real estate loans. $8,238,000 of loans were in development loans. $86,000 of loans were in multifamily mortgage loans. $30,596,000 of loans were in 1-4 family mortgage loans. $748,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,347,000 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 62 $10,685 $172,339
    Nonfarm, nonresidential loans - <$100k 29 $1,293 $44,586
    Nonfarm, nonresidential loans - $100-250k 20 $2,773 $138,650
    Nonfarm, nonresidential loans - $250k-1MM 13 $6,619 $509,154
    Commercial & Industrial, US addressed loans - <$1MM 166 $7,624 $45,928
    Commercial & Industrial, US addressed loans - <$100k 140 $4,071 $29,079
    Commercial & Industrial, US addressed loans - $100-250k 19 $1,602 $84,316
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $1,951 $278,714
    Farmland loans - <$1MM 10 $967 $96,700
    Farmland loans - <$100k 3 $43 $14,333
    Farmland loans - $100-250k 6 $676 $112,667
    Farmland loans - $250k-1MM 1 $248 $248,000
    Agriculture operations loans - <$1MM 12 $748 $62,333
    Agriculture operations loans - <$100k 8 $248 $31,000
    Agriculture operations loans - $100-250k 4 $500 $125,000