Mountain Commerce Bank Mortgage Rates, Fees & Info
Knoxville, TN
LEI: 549300WN1LQYJX9HOU28
Tax ID: 62-0194780
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Mortgage Data
Bank Data
Overview
Mountain Commerce Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
Mountain Commerce Bank has a high proportion of conventional loans.
Their top markets include Knoxville, Johnson City, Nashville, Kingsport, and Sevierville among others. Mountain Commerce Bank has
an above average
approval rate for mortages when compared nationally.
They have
an average
pick rate when compared to the same sample of other lendors.
Originations
327
Origination Dollar Volume (All Markets)
$183,795,000
Employee count
102
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
KNOXVILLE, TN (FHA|USDA|VA)
|
214
|
$121,420,000 |
$567,383 |
$0 |
0.00% |
|
JOHNSON CITY, TN (FHA|USDA|VA)
|
40
|
$13,040,000 |
$326,000 |
$0 |
0.00% |
|
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA)
|
10
|
$11,750,000 |
$1,175,000 |
$0 |
0.00% |
|
Outside of Metro Areas
|
13 |
$9,505,000 |
$731,154 |
$0 |
0.00% |
|
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA)
|
14
|
$6,930,000 |
$495,000 |
$0 |
0.00% |
|
Sevierville, TN (FHA|USDA|VA)
|
15
|
$5,485,000 |
$365,667 |
$0 |
0.00% |
|
Crossville, TN (FHA|USDA|VA)
|
2
|
$3,820,000 |
$1,910,000 |
$0 |
0.00% |
|
MORRISTOWN, TN (FHA|USDA|VA)
|
6
|
$3,800,000 |
$633,333 |
$0 |
0.00% |
|
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)
|
2
|
$1,700,000 |
$850,000 |
$0 |
0.00% |
|
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)
|
1
|
$1,375,000 |
$1,375,000 |
$0 |
0.00% |
|
CHATTANOOGA, TN-GA (FHA|USDA|VA)
|
2
|
$1,290,000 |
$645,000 |
$0 |
0.00% |
|
Tullahoma-Manchester, TN (FHA|USDA|VA)
|
1
|
$945,000 |
$945,000 |
$0 |
0.00% |
|
AUBURN-OPELIKA, AL (FHA|USDA|VA)
|
1
|
$675,000 |
$675,000 |
$0 |
0.00% |
|
Georgetown, SC (FHA|USDA|VA)
|
1
|
$605,000 |
$605,000 |
$0 |
0.00% |
|
Morehead City, NC (FHA|USDA|VA)
|
1
|
$475,000 |
$475,000 |
$0 |
0.00% |
|
TUSCALOOSA, AL (FHA|USDA|VA)
|
1
|
$405,000 |
$405,000 |
$0 |
0.00% |
|
ASHEVILLE, NC (FHA|USDA|VA)
|
1
|
$405,000 |
$405,000 |
$0 |
0.00% |
|
CLEVELAND, TN (FHA|USDA|VA)
|
1
|
$95,000 |
$95,000 |
$0 |
0.00% |
|
Somerset, KY (FHA|USDA|VA)
|
1
|
$75,000 |
$75,000 |
$0 |
0.00% |
Mountain Commerce Bank's top markets include Knoxville, Johnson City, Nashville, Kingsport, and Sevierville among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
327 |
$183,795,000 |
$562,064 |
$0 |
0.00% |
For the 2021 period, Mountain Commerce Bank's most frequently
originated loan type
of loans were Conventional, with 327 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
213 |
$105,205,000 |
$493,920 |
$0 |
0.00% |
| Refi |
100 |
$71,200,000 |
$712,000 |
$0 |
0.00% |
| Home Improvement |
10 |
$1,520,000 |
$152,000 |
$0 |
0.00% |
| Other |
4 |
$5,870,000 |
$1,467,500 |
$0 |
0.00% |
For the 2021, Mountain Commerce Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 213
originations.
The 2nd most popular reason of loans were Refi,
with 100 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
327 |
$183,795,000 |
$562,064 |
$0 |
0.00% |
For the 2021, Mountain Commerce Bank's most frequently cited loan
length
of loans were Other, with 327 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-200k |
87 |
$13,075,000 |
$150,287 |
$0 |
0.00% |
| $200k-400k |
75 |
$21,565,000 |
$287,533 |
$0 |
0.00% |
| $1MM+ |
46 |
$98,380,000 |
$2,138,696 |
$0 |
0.00% |
| $100,000 or less |
43 |
$3,085,000 |
$71,744 |
$0 |
0.00% |
| $600k-1MM |
41 |
$30,365,000 |
$740,610 |
$0 |
0.00% |
| $400k-600k |
35 |
$17,325,000 |
$495,000 |
$0 |
0.00% |
2021 saw Mountain Commerce Bank place emphasis on
$100k-200k loans
with 87 originations, totaling
$13,075,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $250k+ |
86 |
$78,440,000 |
$912,093 |
$0 |
0.00% |
| $150k-250k |
37 |
$16,225,000 |
$438,514 |
$0 |
0.00% |
| $100k-150k |
29 |
$9,485,000 |
$327,069 |
$0 |
0.00% |
| $50k or less |
17 |
$1,745,000 |
$102,647 |
$0 |
0.00% |
| $50k-75k |
16 |
$3,120,000 |
$195,000 |
$0 |
0.00% |
| $75k-100k |
15 |
$3,865,000 |
$257,667 |
$0 |
0.00% |
Mountain Commerce Bank lent most frequently to those with incomes in the
$250k+ range, with
86 originations.
The second most popular income band? $150k-250k,
with 37 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
327 |
$183,795,000 |
$562,064 |
$0 |
0.00% |
Mountain Commerce Bank lent most frequently to those with DTI ratios
of Exempt%, with
327 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
174 |
$101,690,000 |
$584,425 |
$0 |
0.00% |
| Not applicable |
121 |
$61,295,000 |
$506,570 |
$0 |
0.00% |
| Not provided |
21 |
$13,885,000 |
$661,190 |
$0 |
0.00% |
| Asian |
7 |
$4,025,000 |
$575,000 |
$0 |
0.00% |
| Black |
1 |
$1,655,000 |
$1,655,000 |
$0 |
0.00% |
| American Indian |
2 |
$740,000 |
$370,000 |
$0 |
0.00% |
| Korean |
1 |
$505,000 |
$505,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
96.86%
Mountain Commerce 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 origination
91.59%
Mountain Commerce Bank has an average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
327 |
$183,795,000 |
$562,064 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
327 |
$183,795,000 |
$562,064 |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| MOUNTAIN AMERICA FEDERAL CREDIT UNION |
Conventional home mortgage |
Problem with a credit reporting company's investigation into an existing problem |
1 |
16.7% |
| MOUNTAIN AMERICA FEDERAL CREDIT UNION |
Conventional home mortgage |
Struggling to pay mortgage |
1 |
16.7% |
| MOUNTAIN AMERICA FEDERAL CREDIT UNION |
Conventional home mortgage |
Trouble during payment process |
3 |
50.0% |
| MOUNTAIN AMERICA FEDERAL CREDIT UNION |
Home equity loan or line of credit (HELOC) |
Problem with a credit reporting company's investigation into an existing problem |
1 |
16.7% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Mountain Commerce Bank |
3122 Bristol Hwy Johnson City, TN 37601 |
Full Service B&M
|
$116,495 |
| Mountain Commerce Bank |
320 North Cedar Bluff Road, Suite 101 Knoxville, TN 37923 |
Full Service B&M
|
$45,919 |
| Mountain Commerce Bank |
400 North Main Avenue Erwin, TN 37650 |
Full Service B&M
|
$87,020 |
| Mountain Commerce Bank |
4200 Unicoi Drive Unicoi, TN 37692 |
Full Service B&M
|
$44,881 |
| Mountain Commerce Bank |
6101 Kingston Pike Knoxville, TN 37919 |
Full Service B&M
|
$708,425 |
For 2021, Mountain Commerce Bank had 5 branches.
Yearly Performance Overview
Bank Income
Mountain Commerce Bank's gross interest income from loans was $47,471,000.
Mountain Commerce Bank's net interest income from loans was $44,673,000.
Mountain Commerce Bank's fee based income from loans was $430,000.
Mountain Commerce Bank's net income from loans was $24,529,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$2,798 |
| Provision for credit losses |
$-2,625 |
| Total noninterest expense |
$18,239 |
| Salaries and employee benefits |
$10,706 |
| Premises and equipment expense |
$1,897 |
| Additional noninterest expense |
$5,636 |
| Applicable income taxes |
$7,070 |
| Net charge-offs |
$164 |
| Cash dividends |
$7,832 |
Mountain Commerce Bank's interest expense for loans was $2,798,000.
Mountain Commerce Bank's payroll and benefits expense were $10,706,000.
Mountain Commerce Bank's property, plant and equipment expenses $1,897,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$1,119,741 |
| Deposits held in domestic offices |
$1,119,741 |
| Deposits by Individuals, partnerships, and corporations |
$959,731 |
| Deposits by U.S. Government |
$2 |
| Deposits by States and political subdivisions in the U.S. |
$19,498 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$140,510 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$394,482 |
| Demand deposits |
$345,084 |
| Nontransaction accounts |
$725,259 |
| Money market deposit accounts (MMDAs) |
$159,481 |
| Other savings deposits (excluding MMDAs) |
$347,001 |
| Total time deposits |
$218,778 |
| Total time and savings deposits |
$774,657 |
| Noninterest-bearing deposits |
$320,808 |
| Interest-bearing deposits |
$798,933 |
| Retail deposits |
$935,757 |
| IRAs and Keogh plan accounts |
$8,312 |
| Brokered deposits |
$158,905 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$1,334,733 |
| Cash & Balances due from depository institutions |
$68,858 |
| Interest-bearing balances |
$58,204 |
| Total securities |
$162,718 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$1,060,323 |
| Loan and leases loss allowance |
$10,524 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$19,232 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$42 |
| All other assets |
$23,560 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$1,334,733 |
| Total Liabilities |
$1,203,308 |
| Total deposits |
$1,119,741 |
| Interest-bearing deposits |
$798,933 |
| Deposits held in domestic offices |
$1,119,741 |
| % insured (estimated) |
$50 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$75,000 |
| Subordinated debt |
$0 |
| All other liabilities |
$8,567 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$1,060,323 |
| Loan and leases loss allowance |
$10,524 |
| Total loans and leases (domestic) |
$1,070,847 |
| All real estate loans |
$912,952 |
| Real estate loans in domestic offices |
$912,952 |
| Construction and development loans |
$64,168 |
| Residential 1-4 family construction |
$23,661 |
| Other construction, all land development and other land |
$40,507 |
| Loans secured by nonfarm nonresidential properties |
$441,560 |
| Nonfarm nonresidential secured by owner-occupied properties |
$190,162 |
| Commercial real estate & other non-farm, non-residential |
$251,398 |
| Multifamily residential real estate |
$68,868 |
| 1-4 family residential loans |
$325,900 |
| Farmland loans |
$12,456 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$146,579 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$11,315 |
| Credit card loans |
$1,685 |
| Related Plans |
$0 |
| Consumer Auto Loans |
$968 |
| Other loans to individuals |
$8,662 |
| 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 |
Mountain Commerce Bank had $1,060,323,000 of loans outstanding in 2021. $912,952,000 of loans were in real estate loans.
$64,168,000 of loans were in development loans. $68,868,000 of loans were in multifamily mortgage loans.
$325,900,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,685,000
of loans were in credit card loans. $968,000 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 |
202 |
$67,681 |
$335,054 |
| Nonfarm, nonresidential loans - <$100k |
18 |
$1,014 |
$56,333 |
| Nonfarm, nonresidential loans - $100-250k |
54 |
$7,724 |
$143,037 |
| Nonfarm, nonresidential loans - $250k-1MM |
130 |
$58,943 |
$453,408 |
| Commercial & Industrial, US addressed loans - <$1MM |
354 |
$36,801 |
$103,958 |
| Commercial & Industrial, US addressed loans - <$100k |
186 |
$4,600 |
$24,731 |
| Commercial & Industrial, US addressed loans - $100-250k |
74 |
$6,500 |
$87,838 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
94 |
$25,701 |
$273,415 |
| Farmland loans - <$1MM |
14 |
$2,884 |
$206,000 |
| Farmland loans - <$100k |
2 |
$127 |
$63,500 |
| Farmland loans - $100-250k |
7 |
$1,005 |
$143,571 |
| Farmland loans - $250k-1MM |
5 |
$1,752 |
$350,400 |
