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 two markets are Atlanta and Milledgeville .

Bank Of Monticello 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

37

Origination Dollar Volume (All Markets)

$4,555,000

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) 34 $4,070,000 $119,706 $0 0.00%
Milledgeville, GA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Outside of Metro Areas 2 $160,000 $80,000 $0 0.00%
Bank Of Monticello's top markets include Atlanta and Milledgeville among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 37 $4,555,000 $123,108 $0 0.00%

    For 2020, Bank Of Monticello's most frequently originated type of loan was Conventional, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 22 $2,650,000 $120,455 $0 0.00%
    Home Purchase 13 $1,755,000 $135,000 $0 0.00%
    Home Improvement 2 $150,000 $75,000 $0 0.00%

    For 2020, Bank Of Monticello's most frequently cited loan purpose was Refi, with 22 originations. The 2nd most popular reason was Home Purchase, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 37 $4,555,000 $123,108 $0 0.00%

    For 2020, Bank Of Monticello's most frequently cited loan duration was Other, with 37 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 17 $705,000 $41,471 $0 0.00%
    $100k-200k 15 $2,235,000 $149,000 $0 0.00%
    $200k-400k 5 $1,615,000 $323,000 $0 0.00%

    2020 saw Bank Of Monticello place emphasis on $100,000 or less loans with 17 originations, totaling $705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 8 $1,000,000 $125,000 $0 0.00%
    $100k-150k 6 $770,000 $128,333 $0 0.00%
    $150k-250k 6 $820,000 $136,667 $0 0.00%
    $50k-75k 6 $440,000 $73,333 $0 0.00%
    $50k or less 5 $625,000 $125,000 $0 0.00%
    $250k+ 1 $145,000 $145,000 $0 0.00%

    Bank Of Monticello lent most frequently to those with incomes in the $75k-100k range, with 8 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 37 $4,555,000 $123,108 $0 0.00%

    Bank Of Monticello lent most frequently to those with DTI ratios of Exempt%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 28 $3,830,000 $136,786 $0 0.00%
    Not applicable 4 $560,000 $140,000 $0 0.00%
    Black 4 $160,000 $40,000 $0 0.00%
    Filipino 1 $5,000 $5,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.62%

    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
    89.19%

    Bank Of Monticello has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 37 $4,555,000 $123,108

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 9 $495,000 $55,000
    Single Family (1-4 Units):Site-Built 28 $4,060,000 $145,000

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Incorrect information on your report 1 3.8%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 6 23.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.8%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Monticello 141 Green Street Monticello, GA 31064 Full Service B&M $112,828

    For 2020, Bank Of Monticello had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,552
    Net interest income $4,975
    Total noninterest income $555
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $170
    Trading account gains and fees $0
    Additional Noninterest Income $385
    Pre-tax net operating income $1,814
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,814
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,814
    Minority interest net income $0
    Net income $1,814
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,814

    Bank Of Monticello's gross interest income from loans was $5,552,000.
    Bank Of Monticello's net interest income from loans was $4,975,000.
    Bank Of Monticello's fee based income from loans was $170,000.
    Bank Of Monticello's net income from loans was $1,814,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $577
    Provision for credit losses $350
    Total noninterest expense $3,366
    Salaries and employee benefits $1,731
    Premises and equipment expense $317
    Additional noninterest expense $1,318
    Applicable income taxes $0
    Net charge-offs $71
    Cash dividends $857

    Bank Of Monticello's interest expense for loans was $577,000.
    Bank Of Monticello's payroll and benefits expense were $1,731,000.
    Bank Of Monticello's property, plant and equipment expenses $317,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $123,288
    Deposits held in domestic offices $123,288
    Deposits by Individuals, partnerships, and corporations $102,304
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $20,984
    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 $38,825
    Demand deposits $22,863
    Nontransaction accounts $84,463
    Money market deposit accounts (MMDAs) $44,913
    Other savings deposits (excluding MMDAs) $12,500
    Total time deposits $27,049
    Total time and savings deposits $100,425
    Noninterest-bearing deposits $22,863
    Interest-bearing deposits $100,425
    Retail deposits $121,942
    IRAs and Keogh plan accounts $5,721
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $137,495
    Cash & Balances due from depository institutions $35,030
    Interest-bearing balances $33,969
    Total securities $21,506
    Federal funds sold & reverse repurchase $1,205
    Net loans and leases $75,487
    Loan and leases loss allowance $1,009
    Trading account assets $0
    Bank premises and fixed assets $984
    Other real estate owned $192
    Goodwill and other intangibles $0
    All other assets $3,091

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $137,495
    Total Liabilities $124,307
    Total deposits $123,288
    Interest-bearing deposits $100,425
    Deposits held in domestic offices $123,288
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,019

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $75,487
    Loan and leases loss allowance $1,009
    Total loans and leases (domestic) $76,496
    All real estate loans $58,674
    Real estate loans in domestic offices $58,674
    Construction and development loans $12,806
    Residential 1-4 family construction $5,774
    Other construction, all land development and other land $7,032
    Loans secured by nonfarm nonresidential properties $11,658
    Nonfarm nonresidential secured by owner-occupied properties $9,633
    Commercial real estate & other non-farm, non-residential $2,025
    Multifamily residential real estate $472
    1-4 family residential loans $33,054
    Farmland loans $684
    Loans held in foreign offices $0
    Farm loans $1,001
    Commercial and industrial loans $9,269
    To non-U.S. addressees $0
    Loans to individuals $7,552
    Credit card loans $0
    Related Plans $49
    Consumer Auto Loans $3,114
    Other loans to individuals $4,389
    All other loans & leases $0
    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 $75,487,000 of loans outstanding in 2020. $58,674,000 of loans were in real estate loans. $12,806,000 of loans were in development loans. $472,000 of loans were in multifamily mortgage loans. $33,054,000 of loans were in 1-4 family mortgage loans. $1,001,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,114,000 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 67 $11,658 $174,000
    Nonfarm, nonresidential loans - <$100k 30 $1,105 $36,833
    Nonfarm, nonresidential loans - $100-250k 19 $2,326 $122,421
    Nonfarm, nonresidential loans - $250k-1MM 18 $8,227 $457,056
    Commercial & Industrial, US addressed loans - <$1MM 142 $5,968 $42,028
    Commercial & Industrial, US addressed loans - <$100k 121 $3,072 $25,388
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,157 $82,643
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $1,739 $248,429
    Farmland loans - <$1MM 5 $490 $98,000
    Farmland loans - <$100k 2 $91 $45,500
    Farmland loans - $100-250k 3 $399 $133,000
    Agriculture operations loans - <$1MM 24 $1,001 $41,708
    Agriculture operations loans - <$100k 21 $602 $28,667
    Agriculture operations loans - $100-250k 3 $399 $133,000