Century Next Bank Mortgage Rates, Fees & Info

Ruston, LA

LEI: 5493005EWJNDWPLNG328

Tax ID: 72-0306115

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Century Next Bank is a smaller bank specializing in Home Purchase and Refi loans. Century Next Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Monroe, Ruston, Shreveport, New Orleans, and Baton Rouge among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Century Next Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Century Next 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.52%	12/29/24
30 Year Conventional Refi	6.49%	12/29/24
30 Year Cash-out Refi	6.70%	12/29/24
30 Year FHA Purchase	6.82%	12/29/24
30 Year VA Purchase	6.65%	12/29/24
30 Year USDA Purchase	6.36%	12/29/24
15 Year Conventional Purchase	6.13%	12/29/24
15 Year Conventional Refi	5.76%	12/29/24
15 Year Cash-out Refi	5.76%	12/29/24
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.

Century Next Bank Mortgage Calculator

Purchase Price:

Loan Amount:

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% Deposit:

Interest Rate:

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

This is not an official calculator from Century Next 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

323

Origination Dollar Volume (All Markets)

$64,325,000

Employee count

Awards

Century Next Bank 30 Year Conventional Loans bronze

Century Next Bank 30 Year Conventional Loans gold

Show all (4) 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
MONROE, LA (FHA\|USDA\|VA)	163	$34,365,000	$210,828	$3,386	5.31%
Ruston, LA (FHA\|USDA\|VA)	130	$22,750,000	$175,000	$3,540	5.07%
Outside of Metro Areas	25	$5,145,000	$205,800	$3,745	5.20%
SHREVEPORT-BOSSIER CITY, LA (FHA\|USDA\|VA)	2	$1,650,000	$825,000	$0	6.13%
NEW ORLEANS-METAIRIE, LA (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	6.00%
BATON ROUGE, LA (FHA\|USDA\|VA)	1	$175,000	$175,000	$5,958	3.38%
Minden, LA (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	6.25%

Century Next Bank's top markets include Monroe, Ruston, Shreveport, New Orleans, and Baton Rouge among others.

Their top states include:

Louisiana (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Century Next Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Century Next Bank
Similarity Rank: 91

STANDARD MORTGAGE CORPORATION
Similarity Rank: 966

Eagle Bank and Trust Company
Similarity Rank: 1150

TIB The Independent Bankersbank
Similarity Rank: 1440

CRESCENT MORTGAGE COMPANY
Similarity Rank: 1680

Mortgage Research Center, LLC
Similarity Rank: 1804

Origin Bank
Similarity Rank: 2125

Iberiabank
Similarity Rank: 2535

GMFS LLC
Similarity Rank: 2574

BancorpSouth
Similarity Rank: 5124

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	290	$59,570,000	$205,414	$3,127	5.32%
FHA	18	$2,520,000	$140,000	$5,202	4.31%
USDA	11	$1,465,000	$133,182	$4,199	4.20%
VA	4	$770,000	$192,500	$4,648	4.31%

For 2018, Century Next Bank's most frequently originated type of loan was Conventional, with 290 originations. Their 2nd most popular type was FHA, with 18 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	201	$42,165,000	$209,776	$3,824	5.13%
Refi	92	$15,360,000	$166,957	$2,372	5.52%
Cash Out Refi	21	$3,905,000	$185,952	$3,791	4.69%
Home Improvement	7	$2,425,000	$346,429	$0	4.92%
Other	1	$85,000	$85,000	$1,026	7.25%
NA	1	$385,000	$385,000	$7,995	4.00%

For 2018, Century Next Bank's most frequently cited loan purpose was Home Purchase, with 201 originations. The 2nd most popular reason was Refi, with 92 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	110	$20,850,000	$189,545	$3,888	4.49%
5 Year	89	$17,935,000	$201,517	$1,145	5.89%
Other	71	$13,465,000	$189,648	$483	5.66%
3 Year	26	$5,990,000	$230,385	$0	5.69%
15 Year	17	$3,405,000	$200,294	$3,645	3.97%
1 Year	7	$2,145,000	$306,429	$0	4.75%
20 Year	3	$535,000	$178,333	$2,768	4.79%

For 2018, Century Next Bank's most frequently cited loan duration was 30 Year, with 110 originations. The 2nd most popular length was 5 Year, with 89 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	94	$16,200,000	$172,340
$1k-2k	26	$4,190,000	$161,154
$2k-3k	13	$2,635,000	$202,692
$3k-4k	4	$1,080,000	$270,000
$4k-5k	2	$720,000	$360,000
$5k+	2	$760,000	$380,000

Century Next Bank's average total fees were $3,888, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 94 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	136	$31,980,000	$235,147
4-5%	114	$20,430,000	$179,211
6-7%	41	$5,225,000	$127,439
3-4%	26	$5,250,000	$201,923
7-8%	3	$255,000	$85,000
Over 8%	2	$190,000	$95,000
<2.5%	1	$995,000	$995,000

During 2018, Century Next Bank's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 5-6%, with 136 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	129	$19,025,000	$147,481	$3,492	5.10%
$100,000 or less	100	$6,410,000	$64,100	$2,141	5.63%
$200k-400k	64	$16,800,000	$262,500	$4,135	4.78%
$400k-600k	14	$6,520,000	$465,714	$4,883	5.28%
$600k-1MM	12	$9,470,000	$789,167	$0	4.98%
$1MM+	4	$6,100,000	$1,525,000	$0	5.61%

2018 saw Century Next Bank place emphasis on $100k-200k loans with 129 originations, totaling $19,025,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	45	$5,065,000	$112,556	$3,345	4.78%
$100k-150k	38	$7,390,000	$194,474	$3,207	4.89%
$75k-100k	35	$5,995,000	$171,286	$3,812	4.77%
$50k-75k	32	$5,270,000	$164,688	$3,579	4.83%
$150k-250k	20	$4,100,000	$205,000	$3,488	4.82%
$250k+	11	$1,655,000	$150,455	$5,469	5.28%

Century Next Bank lent most frequently to those with incomes in the $50k or less range, with 45 originations. The second most popular income band? $100k-150k, with 38 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
<20%	91	$14,705,000	$161,593	$3,799	4.79%
20-30%	42	$6,770,000	$161,190	$3,612	4.75%
30-36%	17	$2,735,000	$160,882	$3,170	4.79%
42%	5	$1,095,000	$219,000	$3,171	4.47%
37%	4	$760,000	$190,000	$3,361	4.66%
39%	4	$790,000	$197,500	$2,016	5.63%
>60%	3	$225,000	$75,000	$393	6.58%
36%	3	$585,000	$195,000	$4,516	4.21%
46%	3	$505,000	$168,333	$2,583	5.38%
44%	1	$255,000	$255,000	$2,552	5.00%
40%	1	$85,000	$85,000	$3,207	4.63%
49%	1	$185,000	$185,000	$3,199	3.75%
41%	1	$85,000	$85,000	$0	4.50%

Century Next Bank lent most frequently to those with DTI ratios of <20%, with 91 originations. The next most common DTI ratio? 20-30%, with 42 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	140	$34,680,000	$247,714	$0	5.69%
White	166	$27,480,000	$165,542	$3,500	4.84%
Black	11	$985,000	$89,545	$3,262	5.09%
Asian	4	$890,000	$222,500	$3,918	4.22%
American Indian	1	$145,000	$145,000	$5,007	4.13%
Not provided	1	$145,000	$145,000	$0	6.50%

Approval Rates

Total approvals of all applications
96.30%

Century Next 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
95.67%

Century Next Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	323	$64,325,000	$199,149

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	5	$2,085,000	$417,000
Multifamily:Site-Built	18	$12,440,000	$691,111
Single Family (1-4 Units):Manufactured	16	$2,600,000	$162,500
Single Family (1-4 Units):Site-Built	284	$47,200,000	$166,197

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	11	$1,925,000	$175,000	$1,749	5.11%
40-60%	26	$2,780,000	$106,923	$2,806	5.38%
60-80%	79	$13,885,000	$175,759	$3,234	5.06%
80-100%	140	$24,000,000	$171,429	$4,038	5.01%
Over 100%	58	$20,830,000	$359,138	$3,681	5.69%
Under 20%	8	$850,000	$106,250	$321	6.35%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
CENTRAL BANC MORTGAGE CORPORATION	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Bank of Ruston	2109 Farmerville Highway Ruston, LA 71270	Full Service B&M	$6,361
Bank of Ruston	2450 Tower Drive Monroe, LA 71201	Limited, Drive-thru	$12,258
Bank of Ruston	505 North Vienna Street Ruston, LA 71270	Full Service B&M	$228,389

For 2018, Century Next Bank had 3 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,065
Net interest income	$12,813
Total noninterest income	$1,958
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$705
Trading account gains and fees	$0
Additional Noninterest Income	$1,253
Pre-tax net operating income	$4,810
Securities gains (or losses, -)	$0
Income before extraordinary items	$3,853
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$3,853
Minority interest net income	$0
Net income	$3,853
Sale, conversion, retirement of capital stock, net	$129
Net operating income	$3,853

Century Next Bank's gross interest income from loans was $16,065,000.
Century Next Bank's net interest income from loans was $12,813,000.
Century Next Bank's fee based income from loans was $705,000.
Century Next Bank's net income from loans was $3,853,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,252
Provision for credit losses	$780
Total noninterest expense	$9,181
Salaries and employee benefits	$5,663
Premises and equipment expense	$681
Additional noninterest expense	$2,837
Applicable income taxes	$957
Net charge-offs	$181
Cash dividends	$0

Century Next Bank's interest expense for loans was $3,252,000.
Century Next Bank's payroll and benefits expense were $5,663,000.
Century Next Bank's property, plant and equipment expenses $681,000.

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	$386,341
Deposits held in domestic offices	$386,341
Deposits by Individuals, partnerships, and corporations	$337,875
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$48,466
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	$172,901
Demand deposits	$172,901
Nontransaction accounts	$213,440
Money market deposit accounts (MMDAs)	$33,208
Other savings deposits (excluding MMDAs)	$54,788
Total time deposits	$125,442
Total time and savings deposits	$213,440
Noninterest-bearing deposits	$59,076
Interest-bearing deposits	$327,265
Retail deposits	$312,056
IRAs and Keogh plan accounts	$7,072
Brokered deposits	$28,814
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$461,261
Cash & Balances due from depository institutions	$51,679
Interest-bearing balances	$46,662
Total securities	$1,036
Federal funds sold & reverse repurchase	$2,775
Net loans and leases	$375,341
Loan and leases loss allowance	$2,567
Trading account assets	$0
Bank premises and fixed assets	$8,370
Other real estate owned	$957
Goodwill and other intangibles	$4,700
All other assets	$16,403

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$461,261
Total Liabilities	$412,148
Total deposits	$386,341
Interest-bearing deposits	$327,265
Deposits held in domestic offices	$386,341
% insured (estimated)	$70
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$22,531
Subordinated debt	$0
All other liabilities	$3,276

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$375,341
Loan and leases loss allowance	$2,567
Total loans and leases (domestic)	$377,908
All real estate loans	$302,190
Real estate loans in domestic offices	$302,190
Construction and development loans	$34,479
Residential 1-4 family construction	$16,486
Other construction, all land development and other land	$17,993
Loans secured by nonfarm nonresidential properties	$102,423
Nonfarm nonresidential secured by owner-occupied properties	$61,499
Commercial real estate & other non-farm, non-residential	$40,924
Multifamily residential real estate	$10,659
1-4 family residential loans	$148,317
Farmland loans	$6,312
Loans held in foreign offices	$0
Farm loans	$497
Commercial and industrial loans	$54,639
To non-U.S. addressees	$0
Loans to individuals	$21,449
Credit card loans	$2,444
Related Plans	$56
Consumer Auto Loans	$11,354
Other loans to individuals	$7,595
All other loans & leases	$1,250
Loans to foreign governments and official institutions	$0
Other loans	$121
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

Century Next Bank had $375,341,000 of loans outstanding in 2018. $302,190,000 of loans were in real estate loans. $34,479,000 of loans were in development loans. $10,659,000 of loans were in multifamily mortgage loans. $148,317,000 of loans were in 1-4 family mortgage loans. $497,000 of loans were in farm loans. $2,444,000 of loans were in credit card loans. $11,354,000 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	154	$33,873	$219,955
Nonfarm, nonresidential loans - <$100k	36	$1,411	$39,194
Nonfarm, nonresidential loans - $100-250k	55	$7,673	$139,509
Nonfarm, nonresidential loans - $250k-1MM	63	$24,789	$393,476
Commercial & Industrial, US addressed loans - <$1MM	283	$14,898	$52,643
Commercial & Industrial, US addressed loans - <$100k	229	$5,555	$24,258
Commercial & Industrial, US addressed loans - $100-250k	33	$2,981	$90,333
Commercial & Industrial, US addressed loans - $250k-1MM	21	$6,362	$302,952
Farmland loans - <$1MM	9	$1,658	$184,222
Farmland loans - <$100k	1	$35	$35,000
Farmland loans - $100-250k	5	$626	$125,200
Farmland loans - $250k-1MM	3	$997	$332,333
Agriculture operations loans - <$1MM	5	$497	$99,400
Agriculture operations loans - <$100k	4	$244	$61,000
Agriculture operations loans - $250k-1MM	1	$253	$253,000