Commercial Bank Mortgage Rates, Fees & Info
Harrogate, TNLEI: 549300XQ8DRJT0OETE90
Tax ID: 62-0979475
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Bank Data
Review & Overview
Commercial Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Commercial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Morristown, London, Johnson City, and Newport among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Commercial Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Commercial Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.65% | 12/16/24 |
| 30 Year Conventional Refi | 7.00% | 12/16/24 |
| 15 Year Conventional Purchase | 7.92% | 12/16/24 |
| 15 Year Conventional Refi | 7.55% | 12/16/24 |
| 15 Year Cash-out Refi | 7.55% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Commercial Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
418Origination Dollar Volume (All Markets)
$62,610,000Employee count
252Top 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) | 134 | $23,900,000 | $178,358 | $3,106 | 5.02% |
| MORRISTOWN, TN (FHA|USDA|VA) | 45 | $10,205,000 | $226,778 | $3,542 | 5.24% |
| Outside of Metro Areas | 93 | $9,105,000 | $97,903 | $2,129 | 5.38% |
| London, KY (FHA|USDA|VA) | 39 | $3,915,000 | $100,385 | $2,127 | 5.34% |
| JOHNSON CITY, TN (FHA|USDA|VA) | 14 | $3,280,000 | $234,286 | $3,037 | 4.25% |
| Newport, TN (FHA|USDA|VA) | 42 | $2,540,000 | $60,476 | $1,167 | 5.56% |
| Middlesborough, KY (FHA|USDA|VA) | 26 | $2,020,000 | $77,692 | $2,025 | 5.31% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 7 | $1,725,000 | $246,429 | $2,480 | 4.31% |
| Big Stone Gap, VA (FHA|USDA|VA) | 2 | $1,520,000 | $760,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $0 | 4.25% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $795,000 | $795,000 | $15,840 | 5.00% |
| Greeneville, TN (FHA|USDA|VA) | 4 | $520,000 | $130,000 | $1,130 | 5.38% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $11,698 | 4.25% |
| Somerset, KY (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $6,249 | 5.55% |
| Richmond-Berea, KY (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,936 | 4.74% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,768 | 4.25% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,654 | 5.55% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,731 | 5.35% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $250 | 5.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Commercial Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 418 | $62,610,000 | $149,785 | $2,501 | 5.25% |
For 2019, Commercial Bank's most frequently originated type of loan was Conventional, with 418 originations.
Loan Reason
For 2019, Commercial Bank's most frequently cited loan purpose was Home Purchase, with 208 originations. The 2nd most popular reason was Cash Out Refi, with 151 originations.
Loan Duration/Length
For 2019, Commercial Bank's most frequently cited loan duration was 30 Year, with 139 originations. The 2nd most popular length was 5 Year, with 115 originations.
Origination Fees/Closing Costs
Commercial Bank's average total fees were $3,574, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 174 originations.
Interest Rates
During 2019, Commercial Bank's average interest rate for loans was 4.93%, while their most frequently originated rate bucket for loans was 4-5%, with 169 originations.
Loan Sizing
2019 saw Commercial Bank place emphasis on $100,000 or less loans with 224 originations, totaling $11,490,000 in origination value.
Applicant Income
Commercial Bank lent most frequently to those with incomes in the $50k or less range, with 100 originations. The second most popular income band? $50k-75k, with 73 originations.
Applicant Debt to Income Ratio
Commercial Bank lent most frequently to those with DTI ratios of 20-30%, with 107 originations. The next most common DTI ratio? 30-36%, with 70 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.42%
Commercial Bank has an average approval rate.
Pick Rate
Approvals leading to origination90.43%
Commercial Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 418 | $62,610,000 | $149,785 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMERCE BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
| COMMERCE BANK | Other type of mortgage | Trouble during payment process | 1 | 50.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Commercial Bank | 1001 North Broad Street New Tazewell, TN 37825 | Full Service B&M | $45,642 |
| Commercial Bank | 10413 Kingston Pike Knoxville, TN 37922 | Full Service B&M | $32,619 |
| Commercial Bank | 1072 East Stone Drive Kingsport, TN 37660 | Full Service B&M | $18,898 |
| Commercial Bank | 111 Tazewell Pike Luttrell, TN 37779 | Full Service B&M | $12,396 |
| Commercial Bank | 1140 Cumberland Falls Hwy Corbin, KY 40701 | Full Service B&M | $1,016 |
| Commercial Bank | 1149 South Us 25 E Barbourville, KY 40906 | Full Service B&M | $13,934 |
| Commercial Bank | 1285 W Cumberland Gap Parkway Corbin, KY 40701 | Full Service B&M | $33,001 |
| Commercial Bank | 130 South Broad Street New Tazewell, TN 37825 | Full Service B&M | $82,991 |
| Commercial Bank | 1431 Cumberland Avenue Middlesboro, KY 40965 | Full Service B&M | $32,289 |
| Commercial Bank | 155 Terrace Lane Morristown, TN 37813 | Full Service B&M | $40,076 |
| Commercial Bank | 1616 W Market St Johnson City, TN 37604 | Full Service B&M | $3,187 |
| Commercial Bank | 1701 East Main Street Cumberland, KY 40823 | Full Service B&M | $38,325 |
| Commercial Bank | 202 North Main Street Barbourville, KY 40906 | Full Service B&M | $112,039 |
| Commercial Bank | 225 West 1st North Street Morristown, TN 37814 | Full Service B&M | $10,751 |
| Commercial Bank | 2320 South U.S. Highway 421 Harlan, KY 40831 | Full Service B&M | $27,535 |
| Commercial Bank | 2600 Maynardville Highway Maynardville, TN 37807 | Full Service B&M | $74,483 |
| Commercial Bank | 262 East Broadway Newport, TN 37821 | Full Service B&M | $120,920 |
| Commercial Bank | 312 Knox Street Barbourville, KY 40906 | Limited, Drive-thru | $0 |
| Commercial Bank | 420 East Emory Road Powell, TN 37849 | Full Service B&M | $18,145 |
| Commercial Bank | 5320 North Broadway Street Knoxville, TN 37918 | Full Service B&M | $15,978 |
| Commercial Bank | 533 W Tennessee Ave Pineville, KY 40977 | Full Service B&M | $8,044 |
| Commercial Bank | 5500 Maryland Way, Suite 130 Brentwood, TN 37027 | Full Service B&M | $9,915 |
| Commercial Bank | 603 Knox Street Barbourville, KY 40906 | Full Service B&M | $9,471 |
| Commercial Bank | 6710 Cumberland Gap Parkway Harrogate, TN 37752 | Full Service B&M | $242,793 |
| Commercial Bank | 7100 Cumberland Gap Highway Harrogate, TN 37752 | Full Service B&M | $0 |
| Commercial Bank | 7400 Maynardville Highway Knoxville, TN 37938 | Full Service B&M | $26,356 |
| Commercial Bank | 7675 Highway #63 Speedwell, TN 37870 | Full Service B&M | $11,907 |
| Commercial Bank | 774 Cosby Highway Newport, TN 37821 | Full Service B&M | $23,971 |
For 2019, Commercial Bank had 28 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $59,614 |
| Net interest income | $45,272 |
| Total noninterest income | $6,200 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $2,312 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,888 |
| Pre-tax net operating income | $21,830 |
| Securities gains (or losses, -) | $40 |
| Income before extraordinary items | $16,857 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $16,857 |
| Minority interest net income | $0 |
| Net income | $16,857 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $16,825 |
Commercial Bank's gross interest income from loans was $59,614,000.
Commercial Bank's net interest income from loans was $45,272,000.
Commercial Bank's fee based income from loans was $2,312,000.
Commercial Bank's net income from loans was $16,857,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $14,342 |
| Provision for credit losses | $1,493 |
| Total noninterest expense | $28,149 |
| Salaries and employee benefits | $14,540 |
| Premises and equipment expense | $4,419 |
| Additional noninterest expense | $9,190 |
| Applicable income taxes | $5,013 |
| Net charge-offs | $1,018 |
| Cash dividends | $4,400 |
Commercial Bank's interest expense for loans was $14,342,000.
Commercial Bank's payroll and benefits expense were $14,540,000.
Commercial Bank's property, plant and equipment expenses $4,419,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 1.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 1.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 1.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.5% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,072,585 |
| Deposits held in domestic offices | $1,072,585 |
| Deposits by Individuals, partnerships, and corporations | $943,749 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $85,067 |
| Deposits by Commercial banks and other depository institutions in U.S. | $43,768 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $394,000 |
| Demand deposits | $214,831 |
| Nontransaction accounts | $678,584 |
| Money market deposit accounts (MMDAs) | $51,356 |
| Other savings deposits (excluding MMDAs) | $125,674 |
| Total time deposits | $501,554 |
| Total time and savings deposits | $857,753 |
| Noninterest-bearing deposits | $183,236 |
| Interest-bearing deposits | $889,349 |
| Retail deposits | $908,256 |
| IRAs and Keogh plan accounts | $49,522 |
| Brokered deposits | $97,778 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,285,083 |
| Cash & Balances due from depository institutions | $71,412 |
| Interest-bearing balances | $58,434 |
| Total securities | $66,559 |
| Federal funds sold & reverse repurchase | $23,351 |
| Net loans and leases | $1,029,134 |
| Loan and leases loss allowance | $9,166 |
| Trading account assets | $9,437 |
| Bank premises and fixed assets | $32,777 |
| Other real estate owned | $10,436 |
| Goodwill and other intangibles | $3,584 |
| All other assets | $38,393 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,285,083 |
| Total Liabilities | $1,153,499 |
| Total deposits | $1,072,585 |
| Interest-bearing deposits | $889,349 |
| Deposits held in domestic offices | $1,072,585 |
| % insured (estimated) | $78 |
| Federal funds purchased and repurchase agreements | $5,216 |
| Trading liabilities | $4,810 |
| Other borrowed funds | $64,287 |
| Subordinated debt | $0 |
| All other liabilities | $6,601 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,029,134 |
| Loan and leases loss allowance | $9,166 |
| Total loans and leases (domestic) | $1,038,300 |
| All real estate loans | $884,004 |
| Real estate loans in domestic offices | $884,004 |
| Construction and development loans | $124,057 |
| Residential 1-4 family construction | $12,713 |
| Other construction, all land development and other land | $111,344 |
| Loans secured by nonfarm nonresidential properties | $376,478 |
| Nonfarm nonresidential secured by owner-occupied properties | $166,193 |
| Commercial real estate & other non-farm, non-residential | $210,285 |
| Multifamily residential real estate | $32,577 |
| 1-4 family residential loans | $338,217 |
| Farmland loans | $12,675 |
| Loans held in foreign offices | $0 |
| Farm loans | $196 |
| Commercial and industrial loans | $119,075 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $16,859 |
| Credit card loans | $2,608 |
| Related Plans | $144 |
| Consumer Auto Loans | $3,945 |
| Other loans to individuals | $10,162 |
| All other loans & leases | $18,167 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $18,167 |
| 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 | $1,184 |
| Non 1-4 family restructured loans & leases | $421 |
| Total loans and leases (foreign) | $0 |
Commercial Bank had $1,029,134,000 of loans outstanding in 2019. $884,004,000 of loans were in real estate loans. $124,057,000 of loans were in development loans. $32,577,000 of loans were in multifamily mortgage loans. $338,217,000 of loans were in 1-4 family mortgage loans. $196,000 of loans were in farm loans. $2,608,000 of loans were in credit card loans. $3,945,000 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 | 260 | $56,663 | $217,935 |
| Nonfarm, nonresidential loans - <$100k | 89 | $3,740 | $42,022 |
| Nonfarm, nonresidential loans - $100-250k | 81 | $12,248 | $151,210 |
| Nonfarm, nonresidential loans - $250k-1MM | 90 | $40,675 | $451,944 |
| Commercial & Industrial, US addressed loans - <$1MM | 561 | $34,843 | $62,109 |
| Commercial & Industrial, US addressed loans - <$100k | 483 | $11,759 | $24,346 |
| Commercial & Industrial, US addressed loans - $100-250k | 46 | $7,244 | $157,478 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 32 | $15,840 | $495,000 |
| Farmland loans - <$1MM | 23 | $1,774 | $77,130 |
| Farmland loans - <$100k | 18 | $756 | $42,000 |
| Farmland loans - $100-250k | 4 | $668 | $167,000 |
| Farmland loans - $250k-1MM | 1 | $350 | $350,000 |
| Agriculture operations loans - <$1MM | 17 | $196 | $11,529 |
| Agriculture operations loans - <$100k | 17 | $196 | $11,529 |