Auburnbank Mortgage Rates, Fees & Info

Auburn, AL

LEI: RO7SIV4IZNEGU4EXXS92

Tax ID: 63-0015130

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Mortgage Data

Bank Data

Review & Overview

Auburnbank is a smaller bank specializing in Refi and Home Purchase loans. Auburnbank has a high proportion of conventional loans. Auburnbank has a low ratio of conventional loans. Their top markets by origination volume include: Auburn, Columbus, Gadsden, Alexander City, and Lagrange among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

Auburnbank 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. Auburnbank 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.

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Originations

475

Origination Dollar Volume (All Markets)

$130,235,000

Employee count

154

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
AUBURN-OPELIKA, AL (FHA|USDA|VA) 337 $82,655,000 $245,267 $4,048 3.38%
COLUMBUS, GA-AL (FHA|USDA|VA) 41 $17,165,000 $418,659 $0 0.00%
GADSDEN, AL (FHA|USDA|VA) 1 $7,795,000 $7,795,000 $0 0.00%
Alexander City, AL (FHA|USDA|VA) 27 $7,355,000 $272,407 $0 4.50%
LaGrange, GA-AL (FHA|USDA|VA) 29 $4,935,000 $170,172 $3,613 3.13%
Troy, AL (FHA|USDA|VA) 1 $2,065,000 $2,065,000 $0 0.00%
Outside of Metro Areas 10 $1,940,000 $194,000 $0 0.00%
MONTGOMERY, AL (FHA|USDA|VA) 7 $1,695,000 $242,143 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 6 $1,400,000 $233,333 $0 0.00%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 4 $850,000 $212,500 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
DOTHAN, AL (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Atmore, AL (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
ROME, GA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
ALBANY, GA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
DECATUR, AL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Auburnbank's top markets include Auburn, Columbus, Gadsden, Alexander City, and Lagrange among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 463 $128,145,000 $276,771 $0 0.00%
    Conventional 8 $1,350,000 $168,750 $3,975 3.48%
    VA 4 $740,000 $185,000 $0 0.00%

    For 2020, Auburnbank's most frequently originated type of loan was Conventional, with 463 originations. Their 2nd most popular type was Conventional, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 254 $79,610,000 $313,425 $4,074 3.54%
    Home Purchase 140 $34,090,000 $243,500 $5,636 3.63%
    Cash Out Refi 65 $12,915,000 $198,692 $1,922 3.00%
    Other 11 $3,025,000 $275,000 $0 0.00%
    Home Improvement 5 $595,000 $119,000 $0 0.00%

    For 2020, Auburnbank's most frequently cited loan purpose was Refi, with 254 originations. The 2nd most popular reason was Home Purchase, with 140 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 467 $128,885,000 $275,985 $0 0.00%
    30 Year 5 $1,075,000 $215,000 $4,386 3.18%
    5 Year 2 $220,000 $110,000 $0 4.50%
    15 Year 1 $55,000 $55,000 $1,922 3.00%

    For 2020, Auburnbank's most frequently cited loan duration was Other, with 467 originations. The 2nd most popular length was 30 Year, with 5 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2 $200,000 $100,000
    $2k-3k 2 $370,000 $185,000
    $3k-4k 2 $560,000 $280,000

    Auburnbank's average total fees were $4,386, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 3 $515,000 $171,667
    3-4% 3 $615,000 $205,000
    4-5% 2 $220,000 $110,000

    During 2020, Auburnbank's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 3 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 189 $52,665,000 $278,651 $5,326 3.19%
    $100k-200k 171 $25,675,000 $150,146 $3,759 3.50%
    $100,000 or less 64 $4,030,000 $62,969 $1,922 3.75%
    $400k-600k 35 $16,555,000 $473,000 $0 0.00%
    $600k-1MM 9 $7,115,000 $790,556 $0 0.00%
    $1MM+ 7 $24,195,000 $3,456,429 $0 0.00%

    2020 saw Auburnbank place emphasis on $200k-400k loans with 189 originations, totaling $52,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 125 $31,875,000 $255,000 $4,849 3.25%
    $150k-250k 74 $18,180,000 $245,676 $0 0.00%
    $50k-75k 74 $13,420,000 $181,351 $3,613 3.13%
    $75k-100k 62 $11,650,000 $187,903 $0 0.00%
    $50k or less 45 $6,375,000 $141,667 $2,847 3.00%
    $250k+ 29 $9,515,000 $328,103 $0 0.00%

    Auburnbank lent most frequently to those with incomes in the $100k-150k range, with 125 originations. The second most popular income band? $150k-250k, with 74 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 467 $128,885,000 $275,985 $0 0.00%
    <20% 2 $470,000 $235,000 $4,765 3.50%
    20-30% 2 $430,000 $215,000 $4,315 2.94%
    30-36% 1 $55,000 $55,000 $1,922 3.00%
    44% 1 $175,000 $175,000 $3,772 3.00%

    Auburnbank lent most frequently to those with DTI ratios of Exempt%, with 467 originations. The next most common DTI ratio? <20%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 367 $80,615,000 $219,659 $4,579 3.19%
    Not applicable 59 $38,125,000 $646,186 $0 4.50%
    Not provided 33 $6,745,000 $204,394 $1,922 3.00%
    Asian 6 $2,510,000 $418,333 $0 0.00%
    Black 10 $2,240,000 $224,000 $3,613 3.13%

    Approval Rates

    Total approvals of all applications
    93.84%

    Auburnbank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.21%

    Auburnbank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 467 $128,885,000 $275,985
    NA 8 $1,350,000 $168,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $65,000 $65,000
    Multifamily:Site-Built 20 $32,090,000 $1,604,500
    Single Family (1-4 Units):Manufactured 5 $435,000 $87,000
    Single Family (1-4 Units):Site-Built 449 $97,645,000 $217,472

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $85,000 $85,000 $0 4.50%
    60-80% 4 $930,000 $232,500 $4,579 3.19%
    80-100% 1 $145,000 $145,000 $3,613 3.13%
    Under 20% 2 $190,000 $95,000 $1,922 3.75%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Auburnbank 132 Fob James Drive Valley, AL 36854 Full Service B&M $47,825
    Auburnbank 132 North Gay Street Auburn, AL 36830 Full Service B&M $469,362
    Auburnbank 1351 S. Donahue Drive Auburn, AL 36830 Full Service B&M $27,956
    Auburnbank 1851 Frederick Road Opelika, AL 36801 Full Service B&M $26,621
    Auburnbank 215 South 6th Street Opelika, AL 36801 Full Service B&M $113,807
    Auburnbank 2315 Bentcreek Road Auburn, AL 36830 Full Service B&M $72,238
    Auburnbank 819 East Glenn Ave Suite 110 Auburn, AL 36830 Full Service Retail $59,041
    Auburnbank 950 Auburn Rd. Notasulga, AL 36866 Full Service B&M $17,017

    For 2020, Auburnbank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,256
    Net interest income $24,401
    Total noninterest income $5,125
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $585
    Trading account gains and fees $0
    Additional Noninterest Income $4,540
    Pre-tax net operating income $8,348
    Securities gains (or losses, -) $103
    Income before extraordinary items $6,956
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,956
    Minority interest net income $0
    Net income $6,956
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,871

    Auburnbank's gross interest income from loans was $28,256,000.
    Auburnbank's net interest income from loans was $24,401,000.
    Auburnbank's fee based income from loans was $585,000.
    Auburnbank's net income from loans was $6,956,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,855
    Provision for credit losses $1,100
    Total noninterest expense $20,078
    Salaries and employee benefits $11,316
    Premises and equipment expense $3,226
    Additional noninterest expense $5,536
    Applicable income taxes $1,495
    Net charge-offs $-132
    Cash dividends $3,638

    Auburnbank's interest expense for loans was $3,855,000.
    Auburnbank's payroll and benefits expense were $11,316,000.
    Auburnbank's property, plant and equipment expenses $3,226,000.

    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 1.0%
    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 $843,841
    Deposits held in domestic offices $843,841
    Deposits by Individuals, partnerships, and corporations $682,971
    Deposits by U.S. Government $4,617
    Deposits by States and political subdivisions in the U.S. $156,252
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $114,963
    Demand deposits $47,995
    Nontransaction accounts $728,877
    Money market deposit accounts (MMDAs) $199,615
    Other savings deposits (excluding MMDAs) $368,861
    Total time deposits $160,401
    Total time and savings deposits $795,845
    Noninterest-bearing deposits $249,447
    Interest-bearing deposits $594,394
    Retail deposits $788,548
    IRAs and Keogh plan accounts $26,562
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $956,496
    Cash & Balances due from depository institutions $84,018
    Interest-bearing balances $69,150
    Total securities $335,177
    Federal funds sold & reverse repurchase $28,557
    Net loans and leases $459,500
    Loan and leases loss allowance $5,618
    Trading account assets $0
    Bank premises and fixed assets $22,885
    Other real estate owned $0
    Goodwill and other intangibles $1,330
    All other assets $25,029

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $956,496
    Total Liabilities $852,800
    Total deposits $843,841
    Interest-bearing deposits $594,394
    Deposits held in domestic offices $843,841
    % insured (estimated) $62
    Federal funds purchased and repurchase agreements $2,392
    Trading liabilities $0
    Other borrowed funds $811
    Subordinated debt $0
    All other liabilities $5,756

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $459,500
    Loan and leases loss allowance $5,618
    Total loans and leases (domestic) $465,118
    All real estate loans $361,987
    Real estate loans in domestic offices $361,987
    Construction and development loans $33,514
    Residential 1-4 family construction $10,088
    Other construction, all land development and other land $23,426
    Loans secured by nonfarm nonresidential properties $199,522
    Nonfarm nonresidential secured by owner-occupied properties $55,551
    Commercial real estate & other non-farm, non-residential $143,971
    Multifamily residential real estate $40,203
    1-4 family residential loans $87,465
    Farmland loans $1,283
    Loans held in foreign offices $0
    Farm loans $574
    Commercial and industrial loans $55,326
    To non-U.S. addressees $0
    Loans to individuals $7,093
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $881
    Other loans to individuals $6,212
    All other loans & leases $40,925
    Loans to foreign governments and official institutions $0
    Other loans $179
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $468
    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

    AuburnBank had $459,500,000 of loans outstanding in 2020. $361,987,000 of loans were in real estate loans. $33,514,000 of loans were in development loans. $40,203,000 of loans were in multifamily mortgage loans. $87,465,000 of loans were in 1-4 family mortgage loans. $574,000 of loans were in farm loans. $0 of loans were in credit card loans. $881,000 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 235 $69,759 $296,847
    Nonfarm, nonresidential loans - <$100k 40 $1,819 $45,475
    Nonfarm, nonresidential loans - $100-250k 69 $9,598 $139,101
    Nonfarm, nonresidential loans - $250k-1MM 126 $58,342 $463,032
    Commercial & Industrial, US addressed loans - <$1MM 619 $36,574 $59,086
    Commercial & Industrial, US addressed loans - <$100k 490 $12,965 $26,459
    Commercial & Industrial, US addressed loans - $100-250k 85 $9,589 $112,812
    Commercial & Industrial, US addressed loans - $250k-1MM 44 $14,020 $318,636
    Farmland loans - <$1MM 10 $1,283 $128,300
    Farmland loans - <$100k 5 $227 $45,400
    Farmland loans - $100-250k 3 $638 $212,667
    Farmland loans - $250k-1MM 2 $418 $209,000
    Agriculture operations loans - <$1MM 22 $574 $26,091
    Agriculture operations loans - <$100k 20 $511 $25,550
    Agriculture operations loans - $100-250k 2 $63 $31,500