Mountain Commerce Bank Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 549300WN1LQYJX9HOU28

Tax ID: 62-0194780

2021 Data | 2020 Data | 2019 Data | 2018 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

Item Value (in 000's)
Total interest income $47,471
Net interest income $44,673
Total noninterest income $2,464
Gross Fiduciary activities income $0
Service charges on deposit accounts $430
Trading account gains and fees $0
Additional Noninterest Income $2,034
Pre-tax net operating income $31,523
Securities gains (or losses, -) $76
Income before extraordinary items $24,529
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $24,529
Minority interest net income $0
Net income $24,529
Sale, conversion, retirement of capital stock, net $479
Net operating income $24,468

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.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
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 $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