Commercial Bank Mortgage Rates, Fees & Info

Harrogate, TN

LEI: 549300XQ8DRJT0OETE90

Tax ID: 62-0979475

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Mortgage Data

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, London, Morristown, Johnson City, and Kingsport among others. We have data for 21 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 a below 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.65% 4/28/24
30 Year Conventional Refi 7.00% 4/28/24
15 Year Conventional Purchase 7.92% 4/28/24
15 Year Conventional Refi 7.55% 4/28/24
15 Year Cash-out Refi 7.55% 4/28/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Commercial Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

387

Origination Dollar Volume (All Markets)

$81,755,000

Employee count

266

Awards

Commercial Bank 30 Year Conventional Loans gold Commercial Bank 30 Year Conventional Loans silver Commercial Bank 30 Year Conventional Loans gold
Show all (3) awards

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) 78 $18,600,000 $238,462 $2,538 4.05%
Outside of Metro Areas 97 $11,585,000 $119,433 $1,788 3.81%
London, KY (FHA|USDA|VA) 83 $11,525,000 $138,855 $1,722 3.89%
MORRISTOWN, TN (FHA|USDA|VA) 38 $10,620,000 $279,474 $1,555 3.90%
JOHNSON CITY, TN (FHA|USDA|VA) 8 $8,930,000 $1,116,250 $3,179 4.22%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 16 $6,730,000 $420,625 $1,035 4.08%
Greeneville, TN (FHA|USDA|VA) 4 $2,990,000 $747,500 $2,356 4.00%
Middlesborough, KY (FHA|USDA|VA) 26 $2,690,000 $103,462 $1,874 4.14%
Sevierville, TN (FHA|USDA|VA) 7 $2,235,000 $319,286 $1,363 4.03%
Newport, TN (FHA|USDA|VA) 16 $1,760,000 $110,000 $2,633 4.59%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 5.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $455,000 $455,000 $3,464 3.74%
BRUNSWICK, GA (FHA|USDA|VA) 1 $415,000 $415,000 $7,045 3.74%
Key West, FL (FHA|USDA|VA) 1 $345,000 $345,000 $6,868 3.25%
Richmond-Berea, KY (FHA|USDA|VA) 2 $280,000 $140,000 $1,380 3.62%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $260,000 $130,000 $2,959 4.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $260,000 $130,000 $3,318 3.75%
MANHATTAN, KS (FHA|USDA|VA) 1 $155,000 $155,000 $2,847 2.74%
GADSDEN, AL (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.25%
Athens, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.25%
Somerset, KY (FHA|USDA|VA) 1 $75,000 $75,000 $1,745 3.74%
Commercial Bank's top markets include Knoxville, London, Morristown, Johnson City, and Kingsport among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 387 $81,755,000 $211,253 $1,979 3.96%

    For 2021, Commercial Bank's most frequently originated type of loan was Conventional, with 387 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 218 $57,870,000 $265,459 $1,708 3.91%
    Cash Out Refi 128 $20,150,000 $157,422 $2,431 3.91%
    Refi 16 $2,070,000 $129,375 $2,324 4.03%
    Home Improvement 14 $810,000 $57,857 $1,647 5.14%
    Other 11 $855,000 $77,727 $1,894 4.11%

    For 2021, Commercial Bank's most frequently cited loan purpose was Home Purchase, with 218 originations. The 2nd most popular reason was Cash Out Refi, with 128 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 194 $45,470,000 $234,381 $2,018 3.73%
    5 Year 83 $25,635,000 $308,855 $1,292 4.42%
    20 Year 41 $4,815,000 $117,439 $2,133 3.94%
    15 Year 28 $2,330,000 $83,214 $1,937 4.31%
    10 Year 21 $1,255,000 $59,762 $1,639 3.86%
    Other 19 $2,175,000 $114,474 $1,944 4.05%
    3 Year 1 $75,000 $75,000 $1,146 2.99%

    For 2021, Commercial Bank's most frequently cited loan duration was 30 Year, with 194 originations. The 2nd most popular length was 5 Year, with 83 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 196 $32,980,000 $168,265
    $1k-2k 78 $11,050,000 $141,667
    $2k-3k 22 $5,110,000 $232,273
    $3k-4k 7 $2,515,000 $359,286
    $4k-5k 5 $3,655,000 $731,000
    $5k+ 1 $925,000 $925,000

    Commercial Bank's average total fees were $2,018, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 196 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 266 $52,050,000 $195,677
    4-5% 98 $27,410,000 $279,694
    5-6% 7 $765,000 $109,286
    Over 8% 6 $270,000 $45,000
    2.5-3% 6 $1,100,000 $183,333
    6-7% 2 $40,000 $20,000
    7-8% 1 $65,000 $65,000
    <2.5% 1 $55,000 $55,000

    During 2021, Commercial Bank's average interest rate for loans was 3.73%, while their most frequently originated rate bucket for loans was 3-4%, with 266 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 140 $20,210,000 $144,357 $2,097 3.86%
    $100,000 or less 136 $7,850,000 $57,721 $1,650 4.19%
    $200k-400k 73 $19,365,000 $265,274 $2,325 3.81%
    $400k-600k 22 $10,580,000 $480,909 $1,907 3.85%
    $600k-1MM 11 $7,915,000 $719,545 $1,210 3.52%
    $1MM+ 5 $15,835,000 $3,167,000 $11,198 4.45%

    2021 saw Commercial Bank place emphasis on $100k-200k loans with 140 originations, totaling $20,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 97 $8,975,000 $92,526 $1,712 3.97%
    $100k-150k 79 $16,625,000 $210,443 $1,957 3.84%
    $50k-75k 67 $8,975,000 $133,955 $1,910 4.05%
    $75k-100k 55 $7,325,000 $133,182 $2,009 4.02%
    $150k-250k 35 $10,755,000 $307,286 $2,534 3.78%
    $250k+ 18 $7,590,000 $421,667 $3,495 3.79%

    Commercial Bank lent most frequently to those with incomes in the $50k or less range, with 97 originations. The second most popular income band? $100k-150k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 103 $14,545,000 $141,214 $1,878 3.86%
    30-36% 70 $12,240,000 $174,857 $2,102 3.96%
    <20% 67 $9,645,000 $143,955 $2,266 4.10%
    40% 16 $3,130,000 $195,625 $1,899 3.95%
    38% 16 $1,880,000 $117,500 $2,662 3.87%
    39% 15 $4,225,000 $281,667 $1,210 3.78%
    37% 10 $2,840,000 $284,000 $1,789 3.82%
    50-60% 10 $990,000 $99,000 $1,833 4.30%
    >60% 8 $1,540,000 $192,500 $1,543 3.62%
    36% 7 $1,595,000 $227,857 $1,229 4.03%
    43% 7 $1,635,000 $233,571 $985 3.96%
    42% 6 $1,310,000 $218,333 $1,955 3.87%
    45% 6 $1,070,000 $178,333 $1,601 4.12%
    41% 5 $2,375,000 $475,000 $2,935 3.59%
    44% 5 $1,245,000 $249,000 $1,553 3.89%
    46% 4 $440,000 $110,000 $1,488 3.93%
    49% 4 $720,000 $180,000 $2,576 3.69%
    47% 2 $220,000 $110,000 $2,544 3.62%
    48% 1 $325,000 $325,000 $0 3.74%

    Commercial Bank lent most frequently to those with DTI ratios of 20-30%, with 103 originations. The next most common DTI ratio? 30-36%, with 70 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 365 $68,415,000 $187,438 $1,982 3.94%
    Not applicable 12 $12,010,000 $1,000,833 $0 4.33%
    Asian 6 $980,000 $163,333 $1,512 4.08%
    Black 3 $205,000 $68,333 $2,133 5.25%
    Native Hawaiian or Islander 1 $145,000 $145,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    86.34%

    Commercial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.60%

    Commercial Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 387 $81,755,000 $211,253

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    387 $81,755,000 $211,253

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 42 $3,060,000 $72,857 $1,586 4.18%
    40-60% 72 $14,730,000 $204,583 $2,030 4.04%
    60-80% 127 $35,345,000 $278,307 $2,199 3.99%
    80-100% 136 $27,660,000 $203,382 $1,910 3.81%
    Over 100% 2 $350,000 $175,000 $0 4.25%
    Under 20% 8 $610,000 $76,250 $2,178 4.25%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    COMMERCE BANK Conventional home mortgage Closing on a mortgage 1 33.3%
    COMMERCE BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    COMMERCE BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    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 $57,614
    Commercial Bank 10413 Kingston Pike Knoxville, TN 37922 Full Service B&M $22,359
    Commercial Bank 1072 East Stone Drive Kingsport, TN 37660 Full Service B&M $24,411
    Commercial Bank 111 Tazewell Pike Luttrell, TN 37779 Full Service B&M $16,719
    Commercial Bank 1140 Cumberland Falls Hwy Corbin, KY 40701 Full Service B&M $924
    Commercial Bank 1149 South Us 25 E Barbourville, KY 40906 Full Service B&M $99,785
    Commercial Bank 1285 W Cumberland Gap Parkway Corbin, KY 40701 Full Service B&M $40,468
    Commercial Bank 130 South Broad Street New Tazewell, TN 37825 Full Service B&M $91,504
    Commercial Bank 1431 Cumberland Avenue Middlesboro, KY 40965 Full Service B&M $41,050
    Commercial Bank 155 Terrace Lane Morristown, TN 37813 Full Service B&M $41,175
    Commercial Bank 1616 W Market St Johnson City, TN 37604 Full Service B&M $6,651
    Commercial Bank 1701 East Main Street Cumberland, KY 40823 Full Service B&M $38,492
    Commercial Bank 1730 Highway 192 West London, KY 40741 Full Service B&M $24,246
    Commercial Bank 1811 North Main Street London, KY 40741 Full Service B&M $20,428
    Commercial Bank 202 N Main St Barbourville, KY 40906 Limited, Administrative $0
    Commercial Bank 202 South Main Street London, KY 40741 Full Service B&M $144,070
    Commercial Bank 225 West 1st North Street Morristown, TN 37814 Full Service B&M $12,118
    Commercial Bank 2320 South U.S. Highway 421 Harlan, KY 40831 Full Service B&M $29,856
    Commercial Bank 2600 Maynardville Highway Maynardville, TN 37807 Full Service B&M $93,248
    Commercial Bank 262 East Broadway Newport, TN 37821 Full Service B&M $142,090
    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 $22,235
    Commercial Bank 5320 North Broadway Street Knoxville, TN 37918 Full Service B&M $13,649
    Commercial Bank 533 W Tennessee Ave Pineville, KY 40977 Full Service B&M $9,706
    Commercial Bank 5500 Maryland Way, Suite 130 Brentwood, TN 37027 Full Service B&M $17,271
    Commercial Bank 603 Knox Street Barbourville, KY 40906 Full Service B&M $62,349
    Commercial Bank 6710 Cumberland Gap Parkway Harrogate, TN 37752 Full Service B&M $242,384
    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 $30,415
    Commercial Bank 7675 Highway #63 Speedwell, TN 37870 Full Service B&M $14,498
    Commercial Bank 774 Cosby Highway Newport, TN 37821 Full Service B&M $33,136
    Commercial Bank 775 West Cumberland Gap Parkway Corbin, KY 40701 Full Service B&M $11,295

    For 2021, Commercial Bank had 32 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $59,452
    Net interest income $52,178
    Total noninterest income $7,511
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,622
    Trading account gains and fees $0
    Additional Noninterest Income $4,889
    Pre-tax net operating income $27,873
    Securities gains (or losses, -) $0
    Income before extraordinary items $21,308
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $21,308
    Minority interest net income $0
    Net income $21,308
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $21,308

    Commercial Bank's gross interest income from loans was $59,452,000.
    Commercial Bank's net interest income from loans was $52,178,000.
    Commercial Bank's fee based income from loans was $2,622,000.
    Commercial Bank's net income from loans was $21,308,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,274
    Provision for credit losses $396
    Total noninterest expense $31,420
    Salaries and employee benefits $16,734
    Premises and equipment expense $4,759
    Additional noninterest expense $9,927
    Applicable income taxes $6,565
    Net charge-offs $114
    Cash dividends $5,285

    Commercial Bank's interest expense for loans was $7,274,000.
    Commercial Bank's payroll and benefits expense were $16,734,000.
    Commercial Bank's property, plant and equipment expenses $4,759,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.3%
    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 $1,448,890
    Deposits held in domestic offices $1,448,890
    Deposits by Individuals, partnerships, and corporations $1,282,097
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $138,536
    Deposits by Commercial banks and other depository institutions in U.S. $28,258
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $725,128
    Demand deposits $447,633
    Nontransaction accounts $723,763
    Money market deposit accounts (MMDAs) $81,107
    Other savings deposits (excluding MMDAs) $225,602
    Total time deposits $417,054
    Total time and savings deposits $1,001,258
    Noninterest-bearing deposits $350,780
    Interest-bearing deposits $1,098,110
    Retail deposits $1,319,752
    IRAs and Keogh plan accounts $52,960
    Brokered deposits $77,845
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,711,504
    Cash & Balances due from depository institutions $130,910
    Interest-bearing balances $116,128
    Total securities $246,361
    Federal funds sold & reverse repurchase $16,586
    Net loans and leases $1,194,312
    Loan and leases loss allowance $11,189
    Trading account assets $7,415
    Bank premises and fixed assets $46,765
    Other real estate owned $2,285
    Goodwill and other intangibles $4,352
    All other assets $62,518

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,711,504
    Total Liabilities $1,541,145
    Total deposits $1,448,890
    Interest-bearing deposits $1,098,110
    Deposits held in domestic offices $1,448,890
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $10,213
    Trading liabilities $7,415
    Other borrowed funds $70,319
    Subordinated debt $0
    All other liabilities $4,308

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,194,312
    Loan and leases loss allowance $11,189
    Total loans and leases (domestic) $1,205,501
    All real estate loans $1,011,580
    Real estate loans in domestic offices $1,011,580
    Construction and development loans $155,557
    Residential 1-4 family construction $19,306
    Other construction, all land development and other land $136,251
    Loans secured by nonfarm nonresidential properties $473,305
    Nonfarm nonresidential secured by owner-occupied properties $215,963
    Commercial real estate & other non-farm, non-residential $257,342
    Multifamily residential real estate $57,046
    1-4 family residential loans $312,051
    Farmland loans $13,621
    Loans held in foreign offices $0
    Farm loans $214
    Commercial and industrial loans $150,199
    To non-U.S. addressees $0
    Loans to individuals $18,664
    Credit card loans $1,997
    Related Plans $1,048
    Consumer Auto Loans $4,373
    Other loans to individuals $11,246
    All other loans & leases $24,844
    Loans to foreign governments and official institutions $0
    Other loans $23,967
    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 $2,121
    Non 1-4 family restructured loans & leases $1,379
    Total loans and leases (foreign) $0

    Commercial Bank had $1,194,312,000 of loans outstanding in 2021. $1,011,580,000 of loans were in real estate loans. $155,557,000 of loans were in development loans. $57,046,000 of loans were in multifamily mortgage loans. $312,051,000 of loans were in 1-4 family mortgage loans. $214,000 of loans were in farm loans. $1,997,000 of loans were in credit card loans. $4,373,000 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 302 $59,977 $198,599
    Nonfarm, nonresidential loans - <$100k 135 $4,141 $30,674
    Nonfarm, nonresidential loans - $100-250k 72 $10,910 $151,528
    Nonfarm, nonresidential loans - $250k-1MM 95 $44,926 $472,905
    Commercial & Industrial, US addressed loans - <$1MM 782 $31,453 $40,221
    Commercial & Industrial, US addressed loans - <$100k 715 $13,260 $18,545
    Commercial & Industrial, US addressed loans - $100-250k 42 $6,507 $154,929
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $11,686 $467,440
    Farmland loans - <$1MM 28 $2,262 $80,786
    Farmland loans - <$100k 21 $933 $44,429
    Farmland loans - $100-250k 5 $741 $148,200
    Farmland loans - $250k-1MM 2 $588 $294,000
    Agriculture operations loans - <$1MM 17 $214 $12,588
    Agriculture operations loans - <$100k 17 $214 $12,588