Mountain Commerce Bank Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 549300WN1LQYJX9HOU28

Tax ID: 62-0194780

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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

    Mountain Commerce Bank is a smaller bank specializing in Home Purchase and Refi loans. Mountain Commerce Bank has a high proportion of conventional loans. Mountain Commerce Bank has an average proportion of conventional loans. Mountain Commerce Bank has a low ratio of conventional loans. Their top markets by origination volume include: Knoxville, Sevierville, Johnson City, Nashville, and Brunswick among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mountain Commerce Bank 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

    230

    Origination Dollar Volume (All Markets)

    $64,410,000

    Employee count

    83

    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
    KNOXVILLE, TN (FHA|USDA|VA) 174 $44,130,000 $253,621 $5,886 5.42%
    Sevierville, TN (FHA|USDA|VA) 8 $3,550,000 $443,750 $2,579 5.39%
    JOHNSON CITY, TN (FHA|USDA|VA) 23 $3,505,000 $152,391 $2,883 5.41%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 5 $2,495,000 $499,000 $77,335 4.92%
    BRUNSWICK, GA (FHA|USDA|VA) 2 $2,300,000 $1,150,000 $0 4.89%
    MORRISTOWN, TN (FHA|USDA|VA) 4 $2,020,000 $505,000 $0 4.90%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 6 $1,520,000 $253,333 $24,092 6.72%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $18,193 4.99%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 4.86%
    Forest City, NC (FHA|USDA|VA) 1 $815,000 $815,000 $0 4.99%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $755,000 $755,000 $10,691 4.69%
    AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $405,000 $405,000 $0 4.69%
    Outside of Metro Areas 1 $225,000 $225,000 $4,542 5.49%
    CLEVELAND, TN (FHA|USDA|VA) 1 $185,000 $185,000 $3,990 5.69%
    Greeneville, TN (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Mountain Commerce Bank's top markets include Knoxville, Sevierville, Johnson City, Nashville, and Brunswick among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 170 $50,540,000 $297,294 $9,728 5.41%
    Conventional 56 $13,440,000 $240,000 $0 0.00%
    Conventional 4 $430,000 $107,500 $0 0.00%

    For 2018, Mountain Commerce Bank's most frequently originated type of loan was Conventional, with 170 originations. Their 2nd most popular type was Conventional, with 56 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 147 $40,945,000 $278,537 $14,412 5.35%
    Refi 59 $19,715,000 $334,153 $4,699 5.47%
    Home Improvement 12 $2,610,000 $217,500 $0 5.71%
    Other 7 $735,000 $105,000 $1,808 5.58%
    Cash Out Refi 5 $405,000 $81,000 $0 5.88%

    For 2018, Mountain Commerce Bank's most frequently cited loan purpose was Home Purchase, with 147 originations. The 2nd most popular reason was Refi, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 103 $32,595,000 $316,456 $15,218 5.17%
    5 Year 58 $9,150,000 $157,759 $1,509 5.34%
    1 Year 36 $11,130,000 $309,167 $0 5.82%
    15 Year 21 $5,805,000 $276,429 $3,850 5.53%
    10 Year 10 $5,370,000 $537,000 $5,286 5.40%
    20 Year 1 $305,000 $305,000 $0 4.99%
    3 Year 1 $55,000 $55,000 $0 4.99%

    For 2018, Mountain Commerce Bank's most frequently cited loan duration was Other, with 103 originations. The 2nd most popular length was 5 Year, with 58 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 14 $4,590,000 $327,857
    $<1k 13 $925,000 $71,154
    $1k-2k 10 $2,110,000 $211,000
    $5k+ 7 $6,725,000 $960,714
    $3k-4k 6 $1,800,000 $300,000
    $4k-5k 4 $2,460,000 $615,000

    Mountain Commerce Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 103 $25,075,000 $243,447
    4-5% 57 $22,705,000 $398,333
    6-7% 6 $2,540,000 $423,333
    7-8% 3 $175,000 $58,333
    Over 8% 1 $45,000 $45,000

    During 2018, Mountain Commerce Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 103 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 83 $5,135,000 $61,867 $1,174 5.65%
    $100k-200k 61 $8,415,000 $137,951 $3,559 5.45%
    $200k-400k 44 $12,050,000 $273,864 $6,235 5.22%
    $600k-1MM 17 $13,285,000 $781,471 $38,963 5.10%
    $400k-600k 16 $7,490,000 $468,125 $7,075 5.23%
    $1MM+ 9 $18,035,000 $2,003,889 $18,779 5.17%

    2018 saw Mountain Commerce Bank place emphasis on $100,000 or less loans with 83 originations, totaling $5,135,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 41 $16,815,000 $410,122 $6,331 5.12%
    $75k-100k 21 $2,585,000 $123,095 $4,513 5.72%
    $50k or less 17 $1,555,000 $91,471 $2,703 5.60%
    $150k-250k 16 $6,360,000 $397,500 $37,041 5.35%
    $100k-150k 14 $3,130,000 $223,571 $4,844 5.35%
    $50k-75k 9 $1,185,000 $131,667 $4,390 5.44%

    Mountain Commerce Bank lent most frequently to those with incomes in the $250k+ range, with 41 originations. The second most popular income band? $75k-100k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $4,145,000 $180,217 $4,266 5.33%
    Exempt% 22 $5,510,000 $250,455 $2,933 5.96%
    30-36% 10 $2,260,000 $226,000 $5,500 5.34%
    <20% 8 $3,590,000 $448,750 $5,309 5.12%
    50-60% 5 $2,295,000 $459,000 $4,735 4.82%
    44% 4 $580,000 $145,000 $2,343 5.25%
    36% 3 $555,000 $185,000 $3,441 5.14%
    38% 3 $405,000 $135,000 $8,157 5.22%
    >60% 3 $1,115,000 $371,667 $7,649 4.84%
    41% 2 $30,000 $15,000 $530 7.17%
    47% 2 $220,000 $110,000 $2,769 4.52%
    48% 2 $200,000 $100,000 $0 6.67%
    43% 2 $530,000 $265,000 $4,882 5.10%
    37% 1 $125,000 $125,000 $1,947 4.99%
    40% 1 $55,000 $55,000 $0 0.00%
    45% 1 $65,000 $65,000 $0 5.50%
    39% 1 $805,000 $805,000 $5,812 4.59%

    Mountain Commerce Bank lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? Exempt%, with 22 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 119 $32,075,000 $269,538 $9,962 5.38%
    Not applicable 107 $31,865,000 $297,804 $0 5.46%
    Asian 2 $360,000 $180,000 $3,297 4.82%
    American Indian 1 $55,000 $55,000 $0 5.49%
    Not provided 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.13%

    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
    89.57%

    Mountain Commerce Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 56 $13,440,000 $240,000
    NA 174 $50,970,000 $292,931

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 4 $1,570,000 $392,500
    Multifamily:Site-Built 18 $17,670,000 $981,667
    Single Family (1-4 Units):Manufactured 4 $280,000 $70,000
    Single Family (1-4 Units):Site-Built 204 $44,890,000 $220,049

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $2,310,000 $385,000 $3,292 5.27%
    40-60% 24 $5,540,000 $230,833 $5,523 5.38%
    60-80% 98 $24,410,000 $249,082 $14,203 5.42%
    80-100% 34 $10,290,000 $302,647 $8,606 5.24%
    Over 100% 5 $7,185,000 $1,437,000 $0 5.67%
    Under 20% 7 $1,235,000 $176,429 $8,013 6.06%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Trouble during payment process 1 50.0%
    MOUNTAIN WEST FINANCIAL, INC. FHA mortgage Trouble during payment process 1 50.0%

    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 $107,031
    Mountain Commerce Bank 320 North Cedar Bluff Road, Suite 101 Knoxville, TN 37923 Full Service B&M $67,103
    Mountain Commerce Bank 400 North Main Avenue Erwin, TN 37650 Full Service B&M $77,266
    Mountain Commerce Bank 4200 Unicoi Drive Unicoi, TN 37692 Full Service B&M $37,310
    Mountain Commerce Bank 6101 Kingston Pike Knoxville, TN 37919 Full Service B&M $422,026

    For 2018, Mountain Commerce Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $35,681
    Net interest income $27,053
    Total noninterest income $1,692
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $525
    Trading account gains and fees $0
    Additional Noninterest Income $1,167
    Pre-tax net operating income $14,253
    Securities gains (or losses, -) $-39
    Income before extraordinary items $10,700
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,700
    Minority interest net income $0
    Net income $10,700
    Sale, conversion, retirement of capital stock, net $221
    Net operating income $10,730

    Mountain Commerce Bank's gross interest income from loans was $35,681,000.
    Mountain Commerce Bank's net interest income from loans was $27,053,000.
    Mountain Commerce Bank's fee based income from loans was $525,000.
    Mountain Commerce Bank's net income from loans was $10,700,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,628
    Provision for credit losses $573
    Total noninterest expense $13,919
    Salaries and employee benefits $8,006
    Premises and equipment expense $1,633
    Additional noninterest expense $4,280
    Applicable income taxes $3,514
    Net charge-offs $86
    Cash dividends $0

    Mountain Commerce Bank's interest expense for loans was $8,628,000.
    Mountain Commerce Bank's payroll and benefits expense were $8,006,000.
    Mountain Commerce Bank's property, plant and equipment expenses $1,633,000.

    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 $719,119
    Deposits held in domestic offices $719,119
    Deposits by Individuals, partnerships, and corporations $616,880
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $8,373
    Deposits by Commercial banks and other depository institutions in U.S. $93,860
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $123,891
    Demand deposits $101,350
    Nontransaction accounts $595,227
    Money market deposit accounts (MMDAs) $41,126
    Other savings deposits (excluding MMDAs) $292,764
    Total time deposits $261,338
    Total time and savings deposits $617,768
    Noninterest-bearing deposits $101,350
    Interest-bearing deposits $617,769
    Retail deposits $595,454
    IRAs and Keogh plan accounts $10,892
    Brokered deposits $78,642
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $849,065
    Cash & Balances due from depository institutions $25,646
    Interest-bearing balances $11,169
    Total securities $87,855
    Federal funds sold & reverse repurchase $0
    Net loans and leases $701,770
    Loan and leases loss allowance $6,641
    Trading account assets $0
    Bank premises and fixed assets $11,708
    Other real estate owned $7,182
    Goodwill and other intangibles $49
    All other assets $14,855

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $849,065
    Total Liabilities $760,085
    Total deposits $719,119
    Interest-bearing deposits $617,769
    Deposits held in domestic offices $719,119
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $6,000
    Trading liabilities $0
    Other borrowed funds $32,000
    Subordinated debt $0
    All other liabilities $2,966

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $701,770
    Loan and leases loss allowance $6,641
    Total loans and leases (domestic) $708,411
    All real estate loans $619,003
    Real estate loans in domestic offices $619,003
    Construction and development loans $41,747
    Residential 1-4 family construction $10,343
    Other construction, all land development and other land $31,404
    Loans secured by nonfarm nonresidential properties $322,687
    Nonfarm nonresidential secured by owner-occupied properties $105,705
    Commercial real estate & other non-farm, non-residential $216,982
    Multifamily residential real estate $37,533
    1-4 family residential loans $207,923
    Farmland loans $9,113
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $76,709
    To non-U.S. addressees $0
    Loans to individuals $12,699
    Credit card loans $1,752
    Related Plans $0
    Consumer Auto Loans $620
    Other loans to individuals $10,327
    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 $701,770,000 of loans outstanding in 2018. $619,003,000 of loans were in real estate loans. $41,747,000 of loans were in development loans. $37,533,000 of loans were in multifamily mortgage loans. $207,923,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,752,000 of loans were in credit card loans. $620,000 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 156 $53,094 $340,346
    Nonfarm, nonresidential loans - <$100k 15 $703 $46,867
    Nonfarm, nonresidential loans - $100-250k 43 $6,279 $146,023
    Nonfarm, nonresidential loans - $250k-1MM 98 $46,112 $470,531
    Commercial & Industrial, US addressed loans - <$1MM 311 $40,163 $129,141
    Commercial & Industrial, US addressed loans - <$100k 139 $4,314 $31,036
    Commercial & Industrial, US addressed loans - $100-250k 64 $7,235 $113,047
    Commercial & Industrial, US addressed loans - $250k-1MM 108 $28,614 $264,944
    Farmland loans - <$1MM 17 $2,600 $152,941
    Farmland loans - <$100k 5 $171 $34,200
    Farmland loans - $100-250k 7 $1,099 $157,000
    Farmland loans - $250k-1MM 5 $1,330 $266,000