Colony Bank Mortgage Rates, Fees & Info

Fitzgerald, GA

LEI: 254900AHLSHUJOTJG402

Tax ID: 58-1248467

5 stars - out of 5 stars, based on 43 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Colony Bank is a smaller bank specializing in Home Purchase and Refi loans. Colony Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Augusta, Savannah, Atlanta, Warner Robins, and Albany among others. Colony Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Colony Bank is typically an average fee lendor.


Originations

1,890

Origination Dollar Volume (All Markets)

$452,940,000

Employee count

481 Show all (23) awards

Relative Rate

Colony Bank's average 30 year fixed rate mortgage of loans were 2.92%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.23%.

Relative Fees

Colony Bank's average total fees for a 30 year fixed rate mortgage are $4,361.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 362 $99,270,000 $274,227 $4,828 2.80%
SAVANNAH, GA (FHA|USDA|VA) 233 $69,695,000 $299,120 $4,477 3.04%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 115 $36,705,000 $319,174 $4,587 3.22%
WARNER ROBINS, GA (FHA|USDA|VA) 161 $36,415,000 $226,180 $4,155 3.05%
ALBANY, GA (FHA|USDA|VA) 170 $36,350,000 $213,824 $3,732 3.17%
LaGrange, GA-AL (FHA|USDA|VA) 159 $34,375,000 $216,195 $3,660 3.12%
MACON-BIBB COUNTY, GA (FHA|USDA|VA) 92 $20,660,000 $224,565 $4,178 2.94%
Outside of Metro Areas 130 $18,670,000 $143,615 $3,881 4.00%
VALDOSTA, GA (FHA|USDA|VA) 78 $15,250,000 $195,513 $4,891 3.55%
COLUMBUS, GA-AL (FHA|USDA|VA) 48 $11,470,000 $238,958 $4,852 3.93%
Tifton, GA (FHA|USDA|VA) 36 $7,080,000 $196,667 $3,650 4.00%
Vidalia, GA (FHA|USDA|VA) 30 $5,550,000 $185,000 $4,161 2.87%
HINESVILLE, GA (FHA|USDA|VA) 12 $5,280,000 $440,000 $6,386 2.89%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 4 $4,690,000 $1,172,500 $2,943 3.27%
Statesboro, GA (FHA|USDA|VA) 27 $4,535,000 $167,963 $4,074 3.27%
ROME, GA (FHA|USDA|VA) 3 $4,425,000 $1,475,000 $4,586 3.31%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 17 $4,395,000 $258,529 $4,004 2.98%
Moultrie, GA (FHA|USDA|VA) 20 $3,620,000 $181,000 $3,762 3.15%
Milledgeville, GA (FHA|USDA|VA) 15 $3,465,000 $231,000 $3,727 2.98%
Dublin, GA (FHA|USDA|VA) 21 $3,265,000 $155,476 $4,370 3.62%
Cordele, GA (FHA|USDA|VA) 20 $3,110,000 $155,500 $3,044 3.81%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 7 $2,425,000 $346,429 $5,385 3.12%
Fitzgerald, GA (FHA|USDA|VA) 35 $2,405,000 $68,714 $3,556 4.53%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $2,350,000 $391,667 $3,960 3.18%
Douglas, GA (FHA|USDA|VA) 23 $2,025,000 $88,043 $3,246 4.59%
BRUNSWICK, GA (FHA|USDA|VA) 12 $1,900,000 $158,333 $5,060 3.26%
GAINESVILLE, GA (FHA|USDA|VA) 5 $1,455,000 $291,000 $4,034 2.85%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,295,000 $431,667 $4,453 2.79%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 4 $1,180,000 $295,000 $3,026 2.91%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 5 $925,000 $185,000 $2,458 3.27%
Jesup, GA (FHA|USDA|VA) 2 $810,000 $405,000 $3,709 3.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $730,000 $365,000 $3,332 3.76%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $725,000 $241,667 $3,825 3.04%
COLUMBIA, SC (FHA|USDA|VA) 3 $715,000 $238,333 $3,674 2.96%
Jefferson, GA (FHA|USDA|VA) 3 $685,000 $228,333 $2,989 2.50%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $475,000 $475,000 $2,975 2.62%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $475,000 $475,000 $5,535 3.13%
Waycross, GA (FHA|USDA|VA) 2 $440,000 $220,000 $3,966 4.19%
Cedartown, GA (FHA|USDA|VA) 2 $400,000 $200,000 $2,437 4.10%
Thomaston, GA (FHA|USDA|VA) 2 $380,000 $190,000 $4,795 3.31%
Seneca, SC (FHA|USDA|VA) 1 $325,000 $325,000 $7,561 2.63%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $305,000 $305,000 $2,343 2.88%
Thomasville, GA (FHA|USDA|VA) 2 $300,000 $150,000 $3,740 2.50%
PANAMA CITY, FL (FHA|USDA|VA) 2 $280,000 $140,000 $0 4.35%
MONTGOMERY, AL (FHA|USDA|VA) 1 $255,000 $255,000 $2,407 3.12%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $245,000 $245,000 $1,894 2.75%
Americus, GA (FHA|USDA|VA) 1 $225,000 $225,000 $0 4.15%
THE VILLAGES, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,271 2.75%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $170,000 $85,000 $1,774 4.19%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $165,000 $165,000 $2,846 2.75%
Danville, KY (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.00%
ASHEVILLE, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 4.88%
MOBILE, AL (FHA|USDA|VA) 1 $85,000 $85,000 $0 2.88%

Colony Bank's top markets include Augusta, Savannah, Atlanta, Warner Robins, and Albany among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,391 $334,885,000 $240,751 $3,560 3.39%
VA 241 $69,905,000 $290,062 $5,461 2.65%
FHA 207 $39,365,000 $190,169 $6,507 2.82%
USDA 51 $8,785,000 $172,255 $4,900 2.72%

For the 2021 period, Colony Bank's most frequently originated loan type of loans were Conventional, with 1,391 originations. Their 2nd most popular type is VA, with 241 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,213 $299,055,000 $246,542 $4,766 3.02%
Refi 471 $109,885,000 $233,301 $2,936 3.78%
Cash Out Refi 189 $40,925,000 $216,534 $3,372 3.00%
Other 9 $1,905,000 $211,667 $3,218 3.51%
Home Improvement 8 $1,170,000 $146,250 $3,149 4.03%

For the 2021, Colony Bank's most frequently cited loan purpose of loans were Home Purchase, with 1,213 originations. The 2nd most popular reason of loans were Refi, with 471 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,343 $324,365,000 $241,523 $4,361 2.92%
15 Year 168 $30,370,000 $180,774 $2,989 2.68%
Other 164 $38,490,000 $234,695 $2,952 4.67%
5 Year 66 $15,340,000 $232,424 $0 4.95%
10 Year 61 $17,115,000 $280,574 $2,609 4.35%
30+ year 54 $20,410,000 $377,963 $7,731 4.12%
20 Year 26 $5,410,000 $208,077 $3,012 3.26%
1 Year 6 $860,000 $143,333 $0 4.95%
3 Year 2 $580,000 $290,000 $0 4.83%

For the 2021, Colony Bank's most frequently cited loan length of loans were 30 Year, with 1,343 originations. The 2nd most popular length of loans were 15 Year, with 168 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,343 $319,855,000 $238,165
$1k-2k 67 $13,075,000 $195,149
$3k-4k 53 $15,285,000 $288,396
$2k-3k 38 $9,400,000 $247,368
$5k+ 37 $17,765,000 $480,135

$4,361 of loans were Colony Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,343 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 837 $198,125,000 $236,708
3-4% 467 $139,825,000 $299,411
<2.5% 314 $74,150,000 $236,146
4-5% 156 $35,240,000 $225,897
5-6% 78 $4,210,000 $53,974
6-7% 30 $1,020,000 $34,000
7-8% 6 $330,000 $55,000
Over 8% 2 $40,000 $20,000

During 2021, Colony Bank's average interest rate of loans were 2.92%, while their most frequently originated rate bucket of loans were 2.5-3%, with 837 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 740 $202,750,000 $273,986 $4,649 2.94%
$100k-200k 644 $98,650,000 $153,183 $3,640 3.00%
$100,000 or less 292 $16,990,000 $58,185 $2,899 4.39%
$400k-600k 175 $84,495,000 $482,829 $5,769 3.14%
$600k-1MM 25 $18,585,000 $743,400 $6,215 3.48%
$1MM+ 14 $31,470,000 $2,247,857 $4,982 3.56%

2021 saw Colony Bank place emphasis on $200k-400k loans with 740 originations, totaling $202,750,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 427 $80,335,000 $188,138 $4,331 3.05%
$100k-150k 382 $99,820,000 $261,309 $4,310 3.09%
$50k or less 305 $39,945,000 $130,967 $3,963 3.19%
$75k-100k 278 $63,960,000 $230,072 $4,482 3.11%
$150k-250k 201 $63,095,000 $313,905 $4,692 3.19%
$250k+ 92 $34,010,000 $369,674 $4,463 3.40%

Colony Bank lent most frequently to those with incomes in the $50k-75k range, with 427 originations. The second most popular income band? $100k-150k, with 382 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 383 $89,575,000 $233,877 $3,872 2.93%
30-36% 312 $75,940,000 $243,397 $3,992 2.95%
<20% 155 $34,755,000 $224,226 $3,443 2.90%
41% 70 $16,150,000 $230,714 $4,420 2.98%
50-60% 67 $15,075,000 $225,000 $6,743 2.79%
40% 59 $14,325,000 $242,797 $5,192 2.92%
36% 58 $13,400,000 $231,034 $4,402 3.00%
44% 57 $13,275,000 $232,895 $4,285 2.97%
39% 57 $13,235,000 $232,193 $4,429 3.01%
43% 55 $14,125,000 $256,818 $4,109 2.96%
38% 54 $13,130,000 $243,148 $5,005 2.92%
42% 53 $14,485,000 $273,302 $4,900 2.93%
37% 46 $12,370,000 $268,913 $4,420 3.13%
46% 38 $8,760,000 $230,526 $4,835 3.03%
49% 37 $9,635,000 $260,405 $4,778 2.87%
47% 31 $6,725,000 $216,935 $4,619 2.91%
45% 31 $7,605,000 $245,323 $5,055 3.01%
48% 30 $6,880,000 $229,333 $5,096 2.84%
>60% 7 $1,745,000 $249,286 $4,923 3.69%

Colony Bank lent most frequently to those with DTI ratios of 20-30%, with 383 originations. The next most common DTI ratio? 30-36%, with 312 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,295 $293,765,000 $226,846 $4,114 3.11%
Not applicable 148 $53,000,000 $358,108 $0 4.28%
Not provided 180 $50,940,000 $283,000 $4,745 3.00%
Black 209 $39,445,000 $188,732 $5,014 3.30%
Asian 46 $12,670,000 $275,435 $4,435 3.14%
American Indian 10 $2,750,000 $275,000 $4,575 2.87%
Native Hawaiian 1 $345,000 $345,000 $3,844 3.25%
Other Asian 1 $25,000 $25,000 $0 5.50%

Approval Rates

Total approvals of all applications
93.99%

Colony Bank has an average approval rate.

Pick Rate

Approvals leading to origination
87.55%

Colony Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,890 $452,940,000 $239,651

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,890 $452,940,000 $239,651

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 107 $12,685,000 $118,551 $2,843 4.29%
40-60% 209 $42,075,000 $201,316 $3,286 3.61%
60-80% 568 $150,350,000 $264,701 $3,410 3.28%
80-100% 897 $219,685,000 $244,911 $4,473 2.96%
Over 100% 85 $24,015,000 $282,529 $9,090 2.70%
Under 20% 24 $4,130,000 $172,083 $2,872 5.00%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
COLUMBIA BANKING SYSTEM, INC. Conventional home mortgage Trouble during payment process 1 50.0%
COLUMBIA BANKING SYSTEM, INC. Other type of mortgage Trouble during payment process 1 50.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Colony Bank 601 North Main Street Sylvester, GA 31791 Full Service B&M $66,223
Colony Bank 101 Calumet Center Road Lagrange, GA 30241 Full Service B&M $146,462
Colony Bank 103 Alabama Street Broxton, GA 31519 Full Service B&M $49,786
Colony Bank 1031 East 24th Avenue Cordele, GA 31015 Full Service B&M $107,990
Colony Bank 104 Second Street West Tifton, GA 31794 Full Service B&M $78,780
Colony Bank 104 Springhill Drive Statesboro, GA 30458 Full Service B&M $6,169
Colony Bank 1290 South Houston Lake Road Warner Robins, GA 31095 Full Service B&M $37,021
Colony Bank 137 Robert B Lee Drive Leesburg, GA 31763 Full Service B&M $70,343
Colony Bank 1581 Bradley Park Drive Columbus, GA 31904 Full Service B&M $93,614
Colony Bank 200 Gunn Road Centerville, GA 31028 Full Service B&M $24,070
Colony Bank 209 First Avenue Rochelle, GA 31079 Full Service B&M $43,355
Colony Bank 2900 Old Dawson Rd Albany, GA 31721 Full Service B&M $59,461
Colony Bank 302 South Main Street Fitzgerald, GA 31750 Full Service B&M $305,288
Colony Bank 310 Main Street, West Soperton, GA 30457 Full Service B&M $19,243
Colony Bank 3774 Old U.S. Highway 41 North Valdosta, GA 31602 Full Service B&M $38,574
Colony Bank 416 East Washington Street Ashburn, GA 31714 Limited, Drive-thru $0
Colony Bank 515 East Washington Avenue Ashburn, GA 31714 Full Service B&M $87,090
Colony Bank 5510 Oak Street Eastman, GA 31023 Full Service B&M $56,627
Colony Bank 5987 Ogeechee Road Savannah, GA 31419 Full Service B&M $19,712
Colony Bank 602 E Screven Street Quitman, GA 31643 Full Service B&M $36,142
Colony Bank 621 East By-Pass N.E. Moultrie, GA 31768 Full Service B&M $55,234
Colony Bank 675 West Ward Street Douglas, GA 31533 Full Service B&M $98,046
Colony Bank 7011 Hodgson Memorial Drive Savannah, GA 31406 Full Service B&M $49,592

For 2021, Colony Bank had 23 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $70,887
Net interest income $67,502
Total noninterest income $36,377
Gross Fiduciary activities income $0
Service charges on deposit accounts $6,213
Trading account gains and fees $0
Additional Noninterest Income $30,164
Pre-tax net operating income $24,326
Securities gains (or losses, -) $-87
Income before extraordinary items $19,015
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $19,015
Minority interest net income $0
Net income $19,015
Sale, conversion, retirement of capital stock, net $0
Net operating income $19,083

Colony Bank's gross interest income from loans was $70,887,000.
Colony Bank's net interest income from loans was $67,502,000.
Colony Bank's fee based income from loans was $6,213,000.
Colony Bank's net income from loans was $19,015,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,385
Provision for credit losses $700
Total noninterest expense $78,853
Salaries and employee benefits $46,028
Premises and equipment expense $6,149
Additional noninterest expense $26,676
Applicable income taxes $5,224
Net charge-offs $-83
Cash dividends $30,300

Colony Bank's interest expense for loans was $3,385,000.
Colony Bank's payroll and benefits expense were $46,028,000.
Colony Bank's property, plant and equipment expenses $6,149,000.

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 0.0%
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 $2,382,541
Deposits held in domestic offices $2,382,541
Deposits by Individuals, partnerships, and corporations $2,001,336
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $378,970
Deposits by Commercial banks and other depository institutions in U.S. $2,235
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $1,491,320
Demand deposits $560,508
Nontransaction accounts $891,221
Money market deposit accounts (MMDAs) $343,085
Other savings deposits (excluding MMDAs) $198,909
Total time deposits $349,227
Total time and savings deposits $1,822,033
Noninterest-bearing deposits $560,508
Interest-bearing deposits $1,822,033
Retail deposits $2,310,136
IRAs and Keogh plan accounts $61,158
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,687,322
Cash & Balances due from depository institutions $183,992
Interest-bearing balances $165,631
Total securities $947,744
Federal funds sold & reverse repurchase $11,184
Net loans and leases $1,363,217
Loan and leases loss allowance $12,910
Trading account assets $0
Bank premises and fixed assets $43,033
Other real estate owned $281
Goodwill and other intangibles $61,630
All other assets $76,241

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,687,322
Total Liabilities $2,444,039
Total deposits $2,382,541
Interest-bearing deposits $1,822,033
Deposits held in domestic offices $2,382,541
% insured (estimated) $61
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $51,656
Subordinated debt $0
All other liabilities $9,842

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,363,217
Loan and leases loss allowance $12,910
Total loans and leases (domestic) $1,376,127
All real estate loans $1,183,496
Real estate loans in domestic offices $1,183,496
Construction and development loans $165,532
Residential 1-4 family construction $77,896
Other construction, all land development and other land $87,636
Loans secured by nonfarm nonresidential properties $670,270
Nonfarm nonresidential secured by owner-occupied properties $251,047
Commercial real estate & other non-farm, non-residential $419,223
Multifamily residential real estate $47,922
1-4 family residential loans $228,169
Farmland loans $71,603
Loans held in foreign offices $0
Farm loans $22,787
Commercial and industrial loans $121,559
To non-U.S. addressees $0
Loans to individuals $18,632
Credit card loans $0
Related Plans $193
Consumer Auto Loans $4,337
Other loans to individuals $14,102
All other loans & leases $31,089
Loans to foreign governments and official institutions $0
Other loans $11,643
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 $5,656
Non 1-4 family restructured loans & leases $5,656
Total loans and leases (foreign) $0

Colony Bank had $1,363,217,000 of loans outstanding in 2021. $1,183,496,000 of loans were in real estate loans. $165,532,000 of loans were in development loans. $47,922,000 of loans were in multifamily mortgage loans. $228,169,000 of loans were in 1-4 family mortgage loans. $22,787,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,337,000 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 922 $272,083 $295,101
Nonfarm, nonresidential loans - <$100k 195 $10,981 $56,313
Nonfarm, nonresidential loans - $100-250k 274 $44,532 $162,526
Nonfarm, nonresidential loans - $250k-1MM 453 $216,570 $478,079
Commercial & Industrial, US addressed loans - <$1MM 1,571 $112,249 $71,451
Commercial & Industrial, US addressed loans - <$100k 1,320 $38,845 $29,428
Commercial & Industrial, US addressed loans - $100-250k 151 $23,629 $156,483
Commercial & Industrial, US addressed loans - $250k-1MM 100 $49,775 $497,750
Farmland loans - <$1MM 360 $57,355 $159,319
Farmland loans - <$100k 175 $8,899 $50,851
Farmland loans - $100-250k 119 $19,440 $163,361
Farmland loans - $250k-1MM 66 $29,016 $439,636
Agriculture operations loans - <$1MM 277 $15,526 $56,051
Agriculture operations loans - <$100k 240 $8,163 $34,013
Agriculture operations loans - $100-250k 28 $4,250 $151,786
Agriculture operations loans - $250k-1MM 9 $3,113 $345,889