Mountain Commerce Bank Mortgage Rates, Fees & Info

Knoxville, TN

LEI: 549300WN1LQYJX9HOU28

Tax ID: 62-0194780

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Mortgage Data

Bank Data

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. Their top markets by origination volume include: Knoxville, Johnson City, Sevierville, Kingsport, and Cullowhee among others. We have data for 17 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.

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Originations

236

Origination Dollar Volume (All Markets)

$95,290,000

Employee count

90

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) 181 $66,575,000 $367,818 $0 0.00%
JOHNSON CITY, TN (FHA|USDA|VA) 20 $13,910,000 $695,500 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 8 $2,350,000 $293,750 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 6 $1,930,000 $321,667 $0 0.00%
Cullowhee, NC (FHA|USDA|VA) 1 $1,805,000 $1,805,000 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $1,525,000 $1,525,000 $0 0.00%
Outside of Metro Areas 3 $1,255,000 $418,333 $0 0.00%
MORRISTOWN, TN (FHA|USDA|VA) 3 $1,255,000 $418,333 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $895,000 $298,333 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $725,000 $725,000 $0 0.00%
Albertville, AL (FHA|USDA|VA) 1 $705,000 $705,000 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
Newport, TN (FHA|USDA|VA) 1 $535,000 $535,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
Greeneville, TN (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
Somerset, KY (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Mountain Commerce Bank's top markets include Knoxville, Johnson City, Sevierville, Kingsport, and Cullowhee among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 236 $95,290,000 $403,771 $0 0.00%

    For 2020, Mountain Commerce Bank's most frequently originated type of loan was Conventional, with 236 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 174 $56,370,000 $323,966 $0 0.00%
    Refi 52 $37,030,000 $712,115 $0 0.00%
    Home Improvement 7 $995,000 $142,143 $0 0.00%
    Other 3 $895,000 $298,333 $0 0.00%

    For 2020, Mountain Commerce Bank's most frequently cited loan purpose was Home Purchase, with 174 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 236 $95,290,000 $403,771 $0 0.00%

    For 2020, Mountain Commerce Bank's most frequently cited loan duration was Other, with 236 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 66 $8,930,000 $135,303 $0 0.00%
    $100,000 or less 50 $3,100,000 $62,000 $0 0.00%
    $200k-400k 47 $12,635,000 $268,830 $0 0.00%
    $600k-1MM 34 $24,820,000 $730,000 $0 0.00%
    $400k-600k 26 $12,780,000 $491,538 $0 0.00%
    $1MM+ 13 $33,025,000 $2,540,385 $0 0.00%

    2020 saw Mountain Commerce Bank place emphasis on $100k-200k loans with 66 originations, totaling $8,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 69 $47,995,000 $695,580 $0 0.00%
    $150k-250k 23 $8,215,000 $357,174 $0 0.00%
    $100k-150k 18 $4,510,000 $250,556 $0 0.00%
    $75k-100k 11 $2,005,000 $182,273 $0 0.00%
    $50k or less 10 $1,160,000 $116,000 $0 0.00%
    $50k-75k 9 $1,395,000 $155,000 $0 0.00%

    Mountain Commerce Bank lent most frequently to those with incomes in the $250k+ range, with 69 originations. The second most popular income band? $150k-250k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 236 $95,290,000 $403,771 $0 0.00%

    Mountain Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 236 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 127 $59,285,000 $466,811 $0 0.00%
    Not applicable 96 $30,010,000 $312,604 $0 0.00%
    Not provided 10 $5,330,000 $533,000 $0 0.00%
    Asian 3 $665,000 $221,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.05%

    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
    88.56%

    Mountain Commerce Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 236 $95,290,000 $403,771

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $1,335,000 $445,000
    Multifamily:Site-Built 7 $15,735,000 $2,247,857
    Single Family (1-4 Units):Manufactured 4 $240,000 $60,000
    Single Family (1-4 Units):Site-Built 222 $77,980,000 $351,261

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MOUNTAIN WEST FINANCIAL, INC. Conventional home mortgage Trouble during payment process 1 25.0%
    MOUNTAIN WEST FINANCIAL, INC. FHA mortgage Closing on a mortgage 2 50.0%
    MOUNTAIN WEST FINANCIAL, INC. FHA mortgage Trouble during payment process 1 25.0%

    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 $127,377
    Mountain Commerce Bank 320 North Cedar Bluff Road, Suite 101 Knoxville, TN 37923 Full Service B&M $54,151
    Mountain Commerce Bank 400 North Main Avenue Erwin, TN 37650 Full Service B&M $82,191
    Mountain Commerce Bank 4200 Unicoi Drive Unicoi, TN 37692 Full Service B&M $46,033
    Mountain Commerce Bank 6101 Kingston Pike Knoxville, TN 37919 Full Service B&M $592,889

    For 2020, Mountain Commerce Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $44,248
    Net interest income $36,247
    Total noninterest income $1,457
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $453
    Trading account gains and fees $0
    Additional Noninterest Income $1,004
    Pre-tax net operating income $13,998
    Securities gains (or losses, -) $111
    Income before extraordinary items $10,929
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,929
    Minority interest net income $0
    Net income $10,929
    Sale, conversion, retirement of capital stock, net $387
    Net operating income $10,841

    Mountain Commerce Bank's gross interest income from loans was $44,248,000.
    Mountain Commerce Bank's net interest income from loans was $36,247,000.
    Mountain Commerce Bank's fee based income from loans was $453,000.
    Mountain Commerce Bank's net income from loans was $10,929,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,001
    Provision for credit losses $7,500
    Total noninterest expense $16,206
    Salaries and employee benefits $9,567
    Premises and equipment expense $1,738
    Additional noninterest expense $4,901
    Applicable income taxes $3,180
    Net charge-offs $20
    Cash dividends $0

    Mountain Commerce Bank's interest expense for loans was $8,001,000.
    Mountain Commerce Bank's payroll and benefits expense were $9,567,000.
    Mountain Commerce Bank's property, plant and equipment expenses $1,738,000.

    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 $934,552
    Deposits held in domestic offices $934,552
    Deposits by Individuals, partnerships, and corporations $781,840
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $9,420
    Deposits by Commercial banks and other depository institutions in U.S. $143,290
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $257,893
    Demand deposits $220,906
    Nontransaction accounts $676,660
    Money market deposit accounts (MMDAs) $59,256
    Other savings deposits (excluding MMDAs) $316,084
    Total time deposits $301,320
    Total time and savings deposits $713,647
    Noninterest-bearing deposits $220,906
    Interest-bearing deposits $713,646
    Retail deposits $753,725
    IRAs and Keogh plan accounts $9,946
    Brokered deposits $114,757
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,109,947
    Cash & Balances due from depository institutions $72,367
    Interest-bearing balances $58,081
    Total securities $80,919
    Federal funds sold & reverse repurchase $0
    Net loans and leases $922,587
    Loan and leases loss allowance $13,313
    Trading account assets $0
    Bank premises and fixed assets $13,253
    Other real estate owned $0
    Goodwill and other intangibles $42
    All other assets $20,779

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,109,947
    Total Liabilities $994,451
    Total deposits $934,552
    Interest-bearing deposits $713,646
    Deposits held in domestic offices $934,552
    % insured (estimated) $58
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $50,000
    Subordinated debt $0
    All other liabilities $9,899

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $922,587
    Loan and leases loss allowance $13,313
    Total loans and leases (domestic) $935,900
    All real estate loans $763,459
    Real estate loans in domestic offices $763,459
    Construction and development loans $50,166
    Residential 1-4 family construction $14,805
    Other construction, all land development and other land $35,361
    Loans secured by nonfarm nonresidential properties $405,435
    Nonfarm nonresidential secured by owner-occupied properties $170,683
    Commercial real estate & other non-farm, non-residential $234,752
    Multifamily residential real estate $42,666
    1-4 family residential loans $257,249
    Farmland loans $7,943
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $161,845
    To non-U.S. addressees $0
    Loans to individuals $10,596
    Credit card loans $1,687
    Related Plans $0
    Consumer Auto Loans $930
    Other loans to individuals $7,979
    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 $922,587,000 of loans outstanding in 2020. $763,459,000 of loans were in real estate loans. $50,166,000 of loans were in development loans. $42,666,000 of loans were in multifamily mortgage loans. $257,249,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,687,000 of loans were in credit card loans. $930,000 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 178 $59,530 $334,438
    Nonfarm, nonresidential loans - <$100k 17 $848 $49,882
    Nonfarm, nonresidential loans - $100-250k 52 $7,876 $151,462
    Nonfarm, nonresidential loans - $250k-1MM 109 $50,806 $466,110
    Commercial & Industrial, US addressed loans - <$1MM 801 $71,029 $88,675
    Commercial & Industrial, US addressed loans - <$100k 543 $15,386 $28,335
    Commercial & Industrial, US addressed loans - $100-250k 125 $15,176 $121,408
    Commercial & Industrial, US addressed loans - $250k-1MM 133 $40,467 $304,263
    Farmland loans - <$1MM 14 $2,286 $163,286
    Farmland loans - <$100k 2 $93 $46,500
    Farmland loans - $100-250k 7 $1,069 $152,714
    Farmland loans - $250k-1MM 5 $1,124 $224,800