Bank Of Ripley Mortgage Rates, Fees & Info

Ripley, TN

LEI: 549300WD5Y35T6978X73

Tax ID: 62-0340125

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Bank Of Ripley is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Ripley has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Oxford, Paris, Brownsville, and Jackson among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Ripley 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    75

    Origination Dollar Volume (All Markets)

    $5,595,000

    Employee count

    63

    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
    Outside of Metro Areas 51 $2,585,000 $50,686 $0 0.00%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 17 $2,305,000 $135,588 $0 0.00%
    Oxford, MS (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    Paris, TN (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    Brownsville, TN (FHA|USDA|VA) 3 $115,000 $38,333 $0 0.00%
    JACKSON, TN (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Dyersburg, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Bank Of Ripley's top markets include Memphis, Oxford, Paris, Brownsville, and Jackson among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 75 $5,595,000 $74,600 $0 0.00%

    For 2019, Bank Of Ripley's most frequently originated type of loan was Conventional, with 75 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 39 $3,215,000 $82,436 $0 0.00%
    Home Purchase 27 $2,125,000 $78,704 $0 0.00%
    Home Improvement 9 $255,000 $28,333 $0 0.00%

    For 2019, Bank Of Ripley's most frequently cited loan purpose was Refi, with 39 originations. The 2nd most popular reason was Home Purchase, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 75 $5,595,000 $74,600 $0 0.00%

    For 2019, Bank Of Ripley's most frequently cited loan duration was Other, with 75 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 58 $2,040,000 $35,172 $0 0.00%
    $100k-200k 11 $1,355,000 $123,182 $0 0.00%
    $200k-400k 4 $1,230,000 $307,500 $0 0.00%
    $400k-600k 2 $970,000 $485,000 $0 0.00%

    2019 saw Bank Of Ripley place emphasis on $100,000 or less loans with 58 originations, totaling $2,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 23 $1,135,000 $49,348 $0 0.00%
    $50k or less 21 $535,000 $25,476 $0 0.00%
    $150k-250k 10 $1,040,000 $104,000 $0 0.00%
    $75k-100k 8 $250,000 $31,250 $0 0.00%
    $100k-150k 7 $775,000 $110,714 $0 0.00%
    $250k+ 4 $1,230,000 $307,500 $0 0.00%

    Bank Of Ripley lent most frequently to those with incomes in the $50k-75k range, with 23 originations. The second most popular income band? $50k or less, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 75 $5,595,000 $74,600 $0 0.00%

    Bank Of Ripley lent most frequently to those with DTI ratios of Exempt%, with 75 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 55 $4,475,000 $81,364 $0 0.00%
    Not applicable 2 $630,000 $315,000 $0 0.00%
    Black 18 $490,000 $27,222 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.53%

    Bank Of Ripley has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.33%

    Bank Of Ripley has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 75 $5,595,000 $74,600

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $515,000 $515,000
    Single Family (1-4 Units):Manufactured 14 $590,000 $42,143
    Single Family (1-4 Units):Site-Built 60 $4,490,000 $74,833

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 1 7.1%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 42.9%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Ripley 134 North Jefferson Street Ripley, TN 38063 Full Service B&M $139,950
    Bank of Ripley 1775 Highway 51 South Covington, TN 38019 Full Service B&M $21,094
    Bank of Ripley 311 South Washington Street Ripley, TN 38063 Limited, Drive-thru $113
    Bank of Ripley Hwy 51 Location 514 Hwy 51 North Ripley, TN 38063 Full Service B&M $23,980

    For 2019, Bank Of Ripley had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,855
    Net interest income $7,837
    Total noninterest income $1,855
    Gross Fiduciary activities income $2
    Service charges on deposit accounts $1,146
    Trading account gains and fees $0
    Additional Noninterest Income $707
    Pre-tax net operating income $1,757
    Securities gains (or losses, -) $166
    Income before extraordinary items $1,630
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,630
    Minority interest net income $0
    Net income $1,630
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,488

    Bank Of Ripley's gross interest income from loans was $8,855,000.
    Bank Of Ripley's net interest income from loans was $7,837,000.
    Bank Of Ripley's fee based income from loans was $1,146,000.
    Bank Of Ripley's net income from loans was $1,630,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,018
    Provision for credit losses $550
    Total noninterest expense $7,385
    Salaries and employee benefits $4,629
    Premises and equipment expense $857
    Additional noninterest expense $1,899
    Applicable income taxes $293
    Net charge-offs $191
    Cash dividends $422

    Bank Of Ripley's interest expense for loans was $1,018,000.
    Bank Of Ripley's payroll and benefits expense were $4,629,000.
    Bank Of Ripley's property, plant and equipment expenses $857,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 4.0%
    Real Estate loans 6.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 14.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 18.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $186,514
    Deposits held in domestic offices $186,514
    Deposits by Individuals, partnerships, and corporations $146,522
    Deposits by U.S. Government $18
    Deposits by States and political subdivisions in the U.S. $39,974
    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 $92,267
    Demand deposits $46,053
    Nontransaction accounts $94,247
    Money market deposit accounts (MMDAs) $13,081
    Other savings deposits (excluding MMDAs) $17,783
    Total time deposits $63,382
    Total time and savings deposits $140,461
    Noninterest-bearing deposits $46,053
    Interest-bearing deposits $140,461
    Retail deposits $167,383
    IRAs and Keogh plan accounts $12,037
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $224,915
    Cash & Balances due from depository institutions $7,247
    Interest-bearing balances $1,395
    Total securities $116,382
    Federal funds sold & reverse repurchase $9,016
    Net loans and leases $81,589
    Loan and leases loss allowance $1,210
    Trading account assets $0
    Bank premises and fixed assets $3,093
    Other real estate owned $10
    Goodwill and other intangibles $0
    All other assets $7,578

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $224,915
    Total Liabilities $188,921
    Total deposits $186,514
    Interest-bearing deposits $140,461
    Deposits held in domestic offices $186,514
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,407

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $81,589
    Loan and leases loss allowance $1,210
    Total loans and leases (domestic) $82,799
    All real estate loans $58,500
    Real estate loans in domestic offices $58,500
    Construction and development loans $876
    Residential 1-4 family construction $334
    Other construction, all land development and other land $542
    Loans secured by nonfarm nonresidential properties $22,216
    Nonfarm nonresidential secured by owner-occupied properties $19,939
    Commercial real estate & other non-farm, non-residential $2,277
    Multifamily residential real estate $965
    1-4 family residential loans $22,282
    Farmland loans $12,161
    Loans held in foreign offices $0
    Farm loans $3,479
    Commercial and industrial loans $3,043
    To non-U.S. addressees $0
    Loans to individuals $17,649
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $8,784
    Other loans to individuals $8,865
    All other loans & leases $128
    Loans to foreign governments and official institutions $0
    Other loans $128
    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 $369
    Non 1-4 family restructured loans & leases $369
    Total loans and leases (foreign) $0

    Bank of Ripley had $81,589,000 of loans outstanding in 2019. $58,500,000 of loans were in real estate loans. $876,000 of loans were in development loans. $965,000 of loans were in multifamily mortgage loans. $22,282,000 of loans were in 1-4 family mortgage loans. $3,479,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,784,000 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 98 $8,922 $91,041
    Nonfarm, nonresidential loans - <$100k 52 $1,619 $31,135
    Nonfarm, nonresidential loans - $100-250k 27 $3,184 $117,926
    Nonfarm, nonresidential loans - $250k-1MM 19 $4,119 $216,789
    Commercial & Industrial, US addressed loans - <$1MM 131 $2,474 $18,885
    Commercial & Industrial, US addressed loans - <$100k 126 $2,185 $17,341
    Commercial & Industrial, US addressed loans - $100-250k 5 $289 $57,800
    Farmland loans - <$1MM 65 $6,423 $98,815
    Farmland loans - <$100k 34 $1,259 $37,029
    Farmland loans - $100-250k 21 $2,463 $117,286
    Farmland loans - $250k-1MM 10 $2,701 $270,100
    Agriculture operations loans - <$1MM 52 $2,371 $45,596
    Agriculture operations loans - <$100k 40 $781 $19,525
    Agriculture operations loans - $100-250k 8 $746 $93,250
    Agriculture operations loans - $250k-1MM 4 $844 $211,000