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, Nashville, Brownsville, Dyersburg, 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

    90

    Origination Dollar Volume (All Markets)

    $4,990,000

    Employee count

    66

    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 58 $2,420,000 $41,724 $0 0.00%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 21 $1,585,000 $75,476 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $565,000 $565,000 $0 0.00%
    Brownsville, TN (FHA|USDA|VA) 5 $255,000 $51,000 $0 0.00%
    Dyersburg, TN (FHA|USDA|VA) 2 $100,000 $50,000 $0 0.00%
    JACKSON, TN (FHA|USDA|VA) 2 $50,000 $25,000 $0 0.00%
    Paris, TN (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    Bank Of Ripley's top markets include Memphis, Nashville, Brownsville, Dyersburg, 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 90 $4,990,000 $55,444 $0 0.00%

    For 2020, Bank Of Ripley's most frequently originated type of loan was Conventional, with 90 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 41 $2,685,000 $65,488 $0 0.00%
    Home Purchase 27 $1,575,000 $58,333 $0 0.00%
    Home Improvement 14 $440,000 $31,429 $0 0.00%
    Other 8 $290,000 $36,250 $0 0.00%

    For 2020, Bank Of Ripley's most frequently cited loan purpose was Refi, with 41 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 90 $4,990,000 $55,444 $0 0.00%

    For 2020, Bank Of Ripley's most frequently cited loan duration was Other, with 90 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 79 $3,055,000 $38,671 $0 0.00%
    $100k-200k 9 $1,065,000 $118,333 $0 0.00%
    $200k-400k 1 $305,000 $305,000 $0 0.00%
    $400k-600k 1 $565,000 $565,000 $0 0.00%

    2020 saw Bank Of Ripley place emphasis on $100,000 or less loans with 79 originations, totaling $3,055,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 30 $1,010,000 $33,667 $0 0.00%
    $50k-75k 17 $735,000 $43,235 $0 0.00%
    $75k-100k 17 $895,000 $52,647 $0 0.00%
    $100k-150k 9 $525,000 $58,333 $0 0.00%
    $150k-250k 9 $695,000 $77,222 $0 0.00%
    $250k+ 4 $210,000 $52,500 $0 0.00%

    Bank Of Ripley lent most frequently to those with incomes in the $50k or less range, with 30 originations. The second most popular income band? $50k-75k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 90 $4,990,000 $55,444 $0 0.00%

    Bank Of Ripley lent most frequently to those with DTI ratios of Exempt%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $2,830,000 $47,167 $0 0.00%
    Black 24 $1,120,000 $46,667 $0 0.00%
    Not applicable 4 $920,000 $230,000 $0 0.00%
    Asian 1 $85,000 $85,000 $0 0.00%
    American Indian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.28%

    Bank Of Ripley has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.67%

    Bank Of Ripley has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 90 $4,990,000 $55,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $305,000 $305,000
    Single Family (1-4 Units):Manufactured 17 $535,000 $31,471
    Single Family (1-4 Units):Site-Built 72 $4,150,000 $57,639

    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 Ripley 134 North Jefferson Street Ripley, TN 38063 Full Service B&M $146,993
    Bank of Ripley 1775 Highway 51 South Covington, TN 38019 Full Service B&M $27,231
    Bank of Ripley 311 South Washington Street Ripley, TN 38063 Limited, Drive-thru $123
    Bank of Ripley Hwy 51 Location 514 Hwy 51 North Ripley, TN 38063 Full Service B&M $29,898

    For 2020, Bank Of Ripley had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,521
    Net interest income $7,651
    Total noninterest income $1,525
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $909
    Trading account gains and fees $0
    Additional Noninterest Income $616
    Pre-tax net operating income $1,419
    Securities gains (or losses, -) $481
    Income before extraordinary items $1,715
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,715
    Minority interest net income $0
    Net income $1,715
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,282

    Bank Of Ripley's gross interest income from loans was $8,521,000.
    Bank Of Ripley's net interest income from loans was $7,651,000.
    Bank Of Ripley's fee based income from loans was $909,000.
    Bank Of Ripley's net income from loans was $1,715,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $870
    Provision for credit losses $173
    Total noninterest expense $7,584
    Salaries and employee benefits $4,814
    Premises and equipment expense $844
    Additional noninterest expense $1,926
    Applicable income taxes $185
    Net charge-offs $590
    Cash dividends $422

    Bank Of Ripley's interest expense for loans was $870,000.
    Bank Of Ripley's payroll and benefits expense were $4,814,000.
    Bank Of Ripley's property, plant and equipment expenses $844,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 5.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 11.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 1.0%
    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 $220,755
    Deposits held in domestic offices $220,755
    Deposits by Individuals, partnerships, and corporations $173,225
    Deposits by U.S. Government $6
    Deposits by States and political subdivisions in the U.S. $47,524
    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 $119,557
    Demand deposits $64,580
    Nontransaction accounts $101,198
    Money market deposit accounts (MMDAs) $14,214
    Other savings deposits (excluding MMDAs) $22,936
    Total time deposits $64,048
    Total time and savings deposits $156,175
    Noninterest-bearing deposits $64,580
    Interest-bearing deposits $156,175
    Retail deposits $199,693
    IRAs and Keogh plan accounts $12,809
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $264,619
    Cash & Balances due from depository institutions $10,036
    Interest-bearing balances $1,232
    Total securities $141,955
    Federal funds sold & reverse repurchase $24,841
    Net loans and leases $77,560
    Loan and leases loss allowance $793
    Trading account assets $0
    Bank premises and fixed assets $2,980
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $7,247

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $264,619
    Total Liabilities $224,119
    Total deposits $220,755
    Interest-bearing deposits $156,175
    Deposits held in domestic offices $220,755
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,364

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $77,560
    Loan and leases loss allowance $793
    Total loans and leases (domestic) $78,353
    All real estate loans $55,346
    Real estate loans in domestic offices $55,346
    Construction and development loans $1,028
    Residential 1-4 family construction $101
    Other construction, all land development and other land $927
    Loans secured by nonfarm nonresidential properties $20,194
    Nonfarm nonresidential secured by owner-occupied properties $18,001
    Commercial real estate & other non-farm, non-residential $2,193
    Multifamily residential real estate $129
    1-4 family residential loans $22,095
    Farmland loans $11,900
    Loans held in foreign offices $0
    Farm loans $2,929
    Commercial and industrial loans $1,727
    To non-U.S. addressees $0
    Loans to individuals $17,960
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $9,268
    Other loans to individuals $8,692
    All other loans & leases $391
    Loans to foreign governments and official institutions $0
    Other loans $391
    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 $323
    Non 1-4 family restructured loans & leases $323
    Total loans and leases (foreign) $0

    Bank of Ripley had $77,560,000 of loans outstanding in 2020. $55,346,000 of loans were in real estate loans. $1,028,000 of loans were in development loans. $129,000 of loans were in multifamily mortgage loans. $22,095,000 of loans were in 1-4 family mortgage loans. $2,929,000 of loans were in farm loans. $0 of loans were in credit card loans. $9,268,000 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 107 $14,250 $133,178
    Nonfarm, nonresidential loans - <$100k 48 $1,380 $28,750
    Nonfarm, nonresidential loans - $100-250k 27 $2,559 $94,778
    Nonfarm, nonresidential loans - $250k-1MM 32 $10,311 $322,219
    Commercial & Industrial, US addressed loans - <$1MM 78 $1,727 $22,141
    Commercial & Industrial, US addressed loans - <$100k 72 $1,210 $16,806
    Commercial & Industrial, US addressed loans - $100-250k 5 $240 $48,000
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $277 $277,000
    Farmland loans - <$1MM 69 $6,347 $91,986
    Farmland loans - <$100k 39 $1,481 $37,974
    Farmland loans - $100-250k 20 $2,298 $114,900
    Farmland loans - $250k-1MM 10 $2,568 $256,800
    Agriculture operations loans - <$1MM 41 $1,537 $37,488
    Agriculture operations loans - <$100k 29 $433 $14,931
    Agriculture operations loans - $100-250k 10 $808 $80,800
    Agriculture operations loans - $250k-1MM 2 $296 $148,000