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, Alexandria, and New Orleans among others. We have data for 8 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%	4/21/24
30 Year Conventional Refi	6.49%	4/21/24
30 Year Cash-out Refi	6.70%	4/21/24
30 Year FHA Purchase	6.82%	4/21/24
30 Year VA Purchase	6.65%	4/21/24
30 Year USDA Purchase	6.36%	4/21/24
15 Year Conventional Purchase	6.13%	4/21/24
15 Year Conventional Refi	5.76%	4/21/24
15 Year Cash-out Refi	5.76%	4/21/24
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:

Deposit Amount:

% Deposit:

Interest Rate:

Loan Type:

Your Estimates

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

421

Origination Dollar Volume (All Markets)

$73,925,000

Employee count

119

Awards

Century Next 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
MONROE, LA (FHA\|USDA\|VA)	188	$32,850,000	$174,734	$3,779	5.51%
Ruston, LA (FHA\|USDA\|VA)	147	$27,725,000	$188,605	$3,379	4.81%
Outside of Metro Areas	76	$10,400,000	$136,842	$2,495	5.31%
SHREVEPORT-BOSSIER CITY, LA (FHA\|USDA\|VA)	5	$1,565,000	$313,000	$3,176	4.83%
ALEXANDRIA, LA (FHA\|USDA\|VA)	1	$705,000	$705,000	$0	5.75%
NEW ORLEANS-METAIRIE, LA (FHA\|USDA\|VA)	2	$550,000	$275,000	$0	6.13%
PINE BLUFF, AR (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	6.75%
El Dorado, AR (FHA\|USDA\|VA)	1	$45,000	$45,000	$2,256	6.59%

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

Their top states include:

Louisiana (FHA|USDA|VA)

Arkansas (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Mississippi (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: 208

STANDARD MORTGAGE CORPORATION
Similarity Rank: 1007

Merchants Bank of Indiana
Similarity Rank: 1040

Eagle Bank and Trust Company
Similarity Rank: 1210

Origin Bank
Similarity Rank: 2912

Citizens Bank
Similarity Rank: 3340

GMFS LLC
Similarity Rank: 3510

HOMESIDE FINANCIAL, LLC
Similarity Rank: 3816

Iberiabank
Similarity Rank: 4320

Gateway First Bank
Similarity Rank: 4906

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	384	$67,270,000	$175,182	$2,776	5.38%
FHA	18	$3,110,000	$172,778	$5,807	3.76%
VA	12	$2,580,000	$215,000	$6,184	3.63%
USDA	7	$965,000	$137,857	$4,530	3.71%

For 2019, Century Next Bank's most frequently originated type of loan was Conventional, with 384 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	184	$32,610,000	$177,228	$4,068	5.05%
Refi	183	$32,295,000	$176,475	$2,021	5.70%
Cash Out Refi	43	$7,695,000	$178,953	$3,867	3.78%
Home Improvement	10	$1,270,000	$127,000	$642	6.08%
Other	1	$55,000	$55,000	$1,228	4.75%

For 2019, Century Next Bank's most frequently cited loan purpose was Home Purchase, with 184 originations. The 2nd most popular reason was Refi, with 183 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	140	$28,830,000	$205,929	$4,138	3.98%
5 Year	116	$16,780,000	$144,655	$730	6.34%
3 Year	68	$10,120,000	$148,824	$0	5.94%
Other	58	$8,920,000	$153,793	$708	5.97%
15 Year	21	$3,295,000	$156,905	$3,099	3.42%
1 Year	9	$2,535,000	$281,667	$0	5.75%
20 Year	5	$1,135,000	$227,000	$4,520	3.50%
10 Year	4	$2,310,000	$577,500	$2,556	4.25%

For 2019, Century Next Bank's most frequently cited loan duration was 30 Year, with 140 originations. The 2nd most popular length was 5 Year, with 116 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	141	$23,275,000	$165,071
$1k-2k	40	$5,300,000	$132,500
$2k-3k	24	$5,160,000	$215,000
$3k-4k	8	$2,440,000	$305,000
$4k-5k	3	$1,295,000	$431,667
$5k+	2	$940,000	$470,000

Century Next Bank's average total fees were $4,138, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 141 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	119	$22,375,000	$188,025
6-7%	113	$16,025,000	$141,814
3-4%	111	$22,525,000	$202,928
4-5%	64	$11,550,000	$180,469
Over 8%	6	$190,000	$31,667
2.5-3%	5	$1,045,000	$209,000
7-8%	3	$215,000	$71,667

During 2019, Century Next Bank's average interest rate for loans was 3.98%, while their most frequently originated rate bucket for loans was 5-6%, with 119 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	146	$8,530,000	$58,425	$1,562	5.92%
$100k-200k	142	$20,150,000	$141,901	$3,227	4.91%
$200k-400k	107	$29,185,000	$272,757	$4,619	4.72%
$400k-600k	17	$7,625,000	$448,529	$4,920	4.71%
$600k-1MM	6	$4,530,000	$755,000	$0	5.91%
$1MM+	3	$3,905,000	$1,301,667	$9	6.08%

2019 saw Century Next Bank place emphasis on $100,000 or less loans with 146 originations, totaling $8,530,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	60	$13,430,000	$223,833	$3,403	4.43%
$50k-75k	56	$7,350,000	$131,250	$3,138	4.49%
$50k or less	48	$3,820,000	$79,583	$2,451	5.37%
$150k-250k	37	$7,655,000	$206,892	$3,794	4.48%
$75k-100k	36	$4,980,000	$138,333	$3,336	4.69%
$250k+	21	$6,005,000	$285,952	$4,364	4.87%

Century Next Bank lent most frequently to those with incomes in the $100k-150k range, with 60 originations. The second most popular income band? $50k-75k, with 56 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	63	$11,245,000	$178,492	$3,634	4.39%
30-36%	45	$7,695,000	$171,000	$3,415	4.53%
<20%	44	$6,840,000	$155,455	$2,848	4.40%
42%	9	$1,305,000	$145,000	$3,714	3.92%
37%	7	$1,125,000	$160,714	$2,386	4.84%
38%	6	$1,310,000	$218,333	$1,894	5.00%
39%	6	$780,000	$130,000	$2,572	5.81%
44%	6	$1,270,000	$211,667	$5,713	4.27%
36%	6	$740,000	$123,333	$2,921	4.48%
50-60%	6	$490,000	$81,667	$1,523	5.56%
43%	5	$1,485,000	$297,000	$4,682	3.60%
45%	5	$915,000	$183,000	$3,086	4.43%
>60%	5	$1,165,000	$233,000	$708	5.98%
41%	4	$540,000	$135,000	$3,173	3.94%
47%	3	$465,000	$155,000	$4,449	3.79%
49%	3	$795,000	$265,000	$6,699	4.17%
40%	3	$585,000	$195,000	$2,300	3.83%
46%	2	$320,000	$160,000	$2,605	4.31%
48%	2	$500,000	$250,000	$2,956	4.19%

Century Next Bank lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 45 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	236	$40,720,000	$172,542	$3,284	4.63%
Not applicable	163	$30,685,000	$188,252	$0	6.07%
Black	14	$1,610,000	$115,000	$3,011	5.70%
Asian	5	$685,000	$137,000	$3,475	4.25%
Not provided	2	$140,000	$70,000	$0	6.00%
Asian Indian	1	$85,000	$85,000	$0	5.50%

Approval Rates

Total approvals of all applications
98.02%

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
94.77%

Century Next Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
160.09	1	$25,000	$25,000
351.4	1	$35,000	$35,000
NA	419	$73,865,000	$176,289

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	6	$1,220,000	$203,333
Multifamily:Site-Built	41	$12,905,000	$314,756
Single Family (1-4 Units):Manufactured	19	$1,005,000	$52,895
Single Family (1-4 Units):Site-Built	355	$58,795,000	$165,620

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	30	$3,850,000	$128,333	$896	5.63%
40-60%	56	$8,000,000	$142,857	$2,550	4.92%
60-80%	145	$23,125,000	$159,483	$3,304	5.42%
80-100%	146	$28,590,000	$195,822	$3,982	4.86%
Over 100%	26	$9,170,000	$352,692	$14,189	6.05%
Under 20%	18	$1,190,000	$66,111	$729	5.75%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
CENTERSTATE BANK CORPORATION	Conventional home mortgage	Trouble during payment process	1	50.0%
CENTERSTATE BANK CORPORATION	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	50.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Century Next Bank	1218 Highway 133 Crossett, AR 71635	Full Service B&M	$8,155
Century Next Bank	105 Highway 160 Fountain Hill, AR 71642	Full Service B&M	$1,327
Century Next Bank	210 Main Street Crossett, AR 71635	Full Service B&M	$106,718
Century Next Bank	2109 Farmerville Highway Ruston, LA 71270	Full Service B&M	$7,667
Century Next Bank	2450 Tower Drive Monroe, LA 71201	Limited, Drive-thru	$24,586
Century Next Bank	505 North Vienna Street Ruston, LA 71270	Full Service B&M	$243,680
Century Next Bank	603 North Main Hamburg, AR 71646	Full Service B&M	$12,996

For 2019, Century Next Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$25,513
Net interest income	$19,948
Total noninterest income	$3,977
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,633
Trading account gains and fees	$0
Additional Noninterest Income	$2,344
Pre-tax net operating income	$7,493
Securities gains (or losses, -)	$0
Income before extraordinary items	$5,882
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,882
Minority interest net income	$0
Net income	$5,882
Sale, conversion, retirement of capital stock, net	$134
Net operating income	$5,882

Century Next Bank's gross interest income from loans was $25,513,000.
Century Next Bank's net interest income from loans was $19,948,000.
Century Next Bank's fee based income from loans was $1,633,000.
Century Next Bank's net income from loans was $5,882,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,565
Provision for credit losses	$1,203
Total noninterest expense	$15,229
Salaries and employee benefits	$8,642
Premises and equipment expense	$1,120
Additional noninterest expense	$5,467
Applicable income taxes	$1,611
Net charge-offs	$348
Cash dividends	$0

Century Next Bank's interest expense for loans was $5,565,000.
Century Next Bank's payroll and benefits expense were $8,642,000.
Century Next Bank's property, plant and equipment expenses $1,120,000.

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	1.0%
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	1.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$424,123
Deposits held in domestic offices	$424,123
Deposits by Individuals, partnerships, and corporations	$386,114
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$37,027
Deposits by Commercial banks and other depository institutions in U.S.	$982
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$177,716
Demand deposits	$171,541
Nontransaction accounts	$246,407
Money market deposit accounts (MMDAs)	$60,582
Other savings deposits (excluding MMDAs)	$54,120
Total time deposits	$131,704
Total time and savings deposits	$252,582
Noninterest-bearing deposits	$48,101
Interest-bearing deposits	$376,023
Retail deposits	$333,893
IRAs and Keogh plan accounts	$9,435
Brokered deposits	$63,206
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$488,828
Cash & Balances due from depository institutions	$54,100
Interest-bearing balances	$44,281
Total securities	$647
Federal funds sold & reverse repurchase	$0
Net loans and leases	$402,033
Loan and leases loss allowance	$3,422
Trading account assets	$0
Bank premises and fixed assets	$9,707
Other real estate owned	$732
Goodwill and other intangibles	$4,398
All other assets	$17,211

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$488,828
Total Liabilities	$433,698
Total deposits	$424,123
Interest-bearing deposits	$376,023
Deposits held in domestic offices	$424,123
% insured (estimated)	$72
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$6,452
Subordinated debt	$0
All other liabilities	$3,123

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$402,033
Loan and leases loss allowance	$3,422
Total loans and leases (domestic)	$405,455
All real estate loans	$325,880
Real estate loans in domestic offices	$325,880
Construction and development loans	$30,117
Residential 1-4 family construction	$10,365
Other construction, all land development and other land	$19,752
Loans secured by nonfarm nonresidential properties	$123,285
Nonfarm nonresidential secured by owner-occupied properties	$68,108
Commercial real estate & other non-farm, non-residential	$55,177
Multifamily residential real estate	$22,623
1-4 family residential loans	$146,080
Farmland loans	$3,775
Loans held in foreign offices	$0
Farm loans	$488
Commercial and industrial loans	$53,432
To non-U.S. addressees	$0
Loans to individuals	$16,079
Credit card loans	$0
Related Plans	$643
Consumer Auto Loans	$10,076
Other loans to individuals	$5,360
All other loans & leases	$10,145
Loans to foreign governments and official institutions	$0
Other loans	$9,049
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 $402,033,000 of loans outstanding in 2019. $325,880,000 of loans were in real estate loans. $30,117,000 of loans were in development loans. $22,623,000 of loans were in multifamily mortgage loans. $146,080,000 of loans were in 1-4 family mortgage loans. $488,000 of loans were in farm loans. $0 of loans were in credit card loans. $10,076,000 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	218	$46,998	$215,587
Nonfarm, nonresidential loans - <$100k	61	$2,185	$35,820
Nonfarm, nonresidential loans - $100-250k	72	$9,643	$133,931
Nonfarm, nonresidential loans - $250k-1MM	85	$35,170	$413,765
Commercial & Industrial, US addressed loans - <$1MM	502	$34,921	$69,564
Commercial & Industrial, US addressed loans - <$100k	395	$11,093	$28,084
Commercial & Industrial, US addressed loans - $100-250k	61	$6,213	$101,852
Commercial & Industrial, US addressed loans - $250k-1MM	46	$17,615	$382,935
Farmland loans - <$1MM	11	$1,242	$112,909
Farmland loans - <$100k	2	$47	$23,500
Farmland loans - $100-250k	7	$696	$99,429
Farmland loans - $250k-1MM	2	$499	$249,500
Agriculture operations loans - <$1MM	5	$488	$97,600
Agriculture operations loans - <$100k	4	$235	$58,750
Agriculture operations loans - $250k-1MM	1	$253	$253,000