The Middlefield Banking Company Mortgage Rates, Fees & Info

Middlefield, OH

LEI: 5493007SZD2OVPMXT217

Tax ID: 34-0399850

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Mortgage Data

Bank Data

Review & Overview

The Middlefield Banking Company is a smaller bank specializing in Refi and Home Purchase loans. The Middlefield Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Cleveland, Akron, Youngstown, Ashtabula, and Columbus among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Middlefield Banking Company 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.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/25/24
30 Year Conventional Purchase 6.46% 3/25/24
30 Year Conventional Refi 6.43% 3/25/24
30 Year Cash-out Refi 6.48% 3/25/24
15 Year Conventional Purchase 6.57% 3/25/24
15 Year Conventional Refi 5.82% 3/25/24
15 Year Cash-out Refi 5.82% 3/25/24
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.

The Middlefield Banking Company Mortgage Calculator






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


Originations

935

Origination Dollar Volume (All Markets)

$139,385,000

Employee count

200

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
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 426 $61,220,000 $143,709 $0 4.45%
AKRON, OH (FHA|USDA|VA) 116 $29,530,000 $254,569 $0 4.42%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 179 $19,155,000 $107,011 $0 4.38%
Ashtabula, OH (FHA|USDA|VA) 135 $15,645,000 $115,889 $0 4.43%
COLUMBUS, OH (FHA|USDA|VA) 74 $12,460,000 $168,378 $0 4.35%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
TOLEDO, OH (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Mount Vernon, OH (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Findlay, OH (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
The Middlefield Banking Company's top markets include Cleveland, Akron, Youngstown, Ashtabula, and Columbus among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 547 $49,545,000 $90,576 n/a 4.42%
    Conventional 388 $89,840,000 $231,546 $0 0.00%

    For 2018, The Middlefield Banking Company's most frequently originated type of loan was HELOC, with 547 originations. Their 2nd most popular type was Conventional, with 388 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 307 $59,595,000 $194,121 $0 4.40%
    Home Purchase 268 $52,860,000 $197,239 $0 4.39%
    Other 191 $14,965,000 $78,351 $0 4.37%
    Home Improvement 152 $9,840,000 $64,737 $0 4.52%
    Cash Out Refi 17 $2,125,000 $125,000 $0 4.25%

    For 2018, The Middlefield Banking Company's most frequently cited loan purpose was Refi, with 307 originations. The 2nd most popular reason was Home Purchase, with 268 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 543 $47,985,000 $88,370 $0 4.41%
    Other 391 $90,775,000 $232,161 $0 5.50%
    5 Year 1 $625,000 $625,000 $0 5.25%

    For 2018, The Middlefield Banking Company's most frequently cited loan duration was 20 Year, with 543 originations. The 2nd most popular length was Other, with 391 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 414 $35,370,000 $85,435
    3-4% 119 $11,935,000 $100,294
    5-6% 14 $2,240,000 $160,000

    During 2018, The Middlefield Banking Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 414 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 461 $22,535,000 $48,883 $0 4.45%
    $100k-200k 317 $45,375,000 $143,139 $0 4.34%
    $200k-400k 129 $33,025,000 $256,008 $0 4.33%
    $400k-600k 14 $6,580,000 $470,000 $0 4.65%
    $1MM+ 9 $28,445,000 $3,160,556 $0 4.25%
    $600k-1MM 5 $3,425,000 $685,000 $0 5.25%

    2018 saw The Middlefield Banking Company place emphasis on $100,000 or less loans with 461 originations, totaling $22,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 318 $25,270,000 $79,465 $0 4.47%
    $50k-75k 224 $22,950,000 $102,455 $0 4.42%
    $100k-150k 133 $19,475,000 $146,429 $0 4.35%
    $75k-100k 129 $16,695,000 $129,419 $0 4.38%
    $150k-250k 63 $11,215,000 $178,016 $0 4.32%
    $250k+ 33 $10,815,000 $327,727 $0 4.26%

    The Middlefield Banking Company lent most frequently to those with incomes in the $50k or less range, with 318 originations. The second most popular income band? $50k-75k, with 224 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 388 $89,840,000 $231,546 $0 0.00%
    20-30% 161 $13,155,000 $81,708 $0 4.39%
    <20% 121 $13,605,000 $112,438 $0 4.42%
    30-36% 104 $8,730,000 $83,942 $0 4.42%
    40% 37 $3,955,000 $106,892 $0 4.41%
    39% 30 $2,690,000 $89,667 $0 4.38%
    38% 28 $1,400,000 $50,000 $0 4.61%
    37% 26 $1,790,000 $68,846 $0 4.28%
    36% 19 $1,335,000 $70,263 $0 4.42%
    41% 9 $565,000 $62,778 $0 4.53%
    42% 2 $50,000 $25,000 $0 3.75%
    48% 1 $135,000 $135,000 $0 4.00%
    50-60% 1 $105,000 $105,000 $0 4.50%
    >60% 1 $155,000 $155,000 $0 4.50%
    49% 1 $155,000 $155,000 $0 4.75%
    43% 1 $35,000 $35,000 $0 4.50%

    The Middlefield Banking Company lent most frequently to those with DTI ratios of Exempt%, with 388 originations. The next most common DTI ratio? 20-30%, with 161 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 886 $105,230,000 $118,770 $0 4.42%
    Not applicable 30 $32,400,000 $1,080,000 $0 5.15%
    Not provided 11 $1,095,000 $99,545 $0 3.97%
    Black 4 $230,000 $57,500 $0 4.58%
    Asian 1 $205,000 $205,000 $0 3.75%
    Asian Indian 2 $160,000 $80,000 $0 4.38%
    Vietnamese 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    77.71%

    The Middlefield Banking Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.35%

    The Middlefield Banking Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 388 $89,840,000 $231,546
    NA 547 $49,545,000 $90,576

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $1,705,000 $1,705,000
    Multifamily:Site-Built 22 $30,060,000 $1,366,364
    Single Family (1-4 Units):Manufactured 25 $1,895,000 $75,800
    Single Family (1-4 Units):Site-Built 887 $105,725,000 $119,194

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 185 $13,715,000 $74,135 $0 4.41%
    40-60% 90 $12,390,000 $137,667 $0 4.36%
    60-80% 54 $9,090,000 $168,333 $0 4.45%
    80-100% 44 $8,730,000 $198,409 $0 4.34%
    Under 20% 174 $5,620,000 $32,299 $0 4.47%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Middlefield Banking Company 10519 South Main Street Mantua, OH 44255 Full Service B&M $40,092
    The Middlefield Banking Company 11110 Kinsman Road, Unit 1 Newbury, OH 44065 Full Service B&M $61,283
    The Middlefield Banking Company 15545 West High Street Middlefield, OH 44062 Full Service B&M $87,345
    The Middlefield Banking Company 15985 East High Street Middlefield, OH 44062 Full Service B&M $213,020
    The Middlefield Banking Company 17 North State St Westerville, OH 43081 Full Service B&M $19,328
    The Middlefield Banking Company 2351 Edison Boulevard Twinsburg, OH 44087 Full Service B&M $54,909
    The Middlefield Banking Company 25201 Chagrin Boulevard, Suite 150 Beachwood, OH 44122 Full Service B&M $94,986
    The Middlefield Banking Company 30 South Maple Avenue Orwell, OH 44076 Full Service B&M $30,834
    The Middlefield Banking Company 3450 Niles-Cortland Road Cortland, OH 44410 Full Service B&M $54,903
    The Middlefield Banking Company 348 Center Street Chardon, OH 44024 Full Service B&M $126,334
    The Middlefield Banking Company 492 West Cherry Street Sunbury, OH 43074 Full Service B&M $5,043
    The Middlefield Banking Company 6134a Kruse Drive Solon, OH 44139 Full Service B&M $26,575
    The Middlefield Banking Company 6215 Perimeter Drive Dublin, OH 43017 Full Service B&M $45,806
    The Middlefield Banking Company 8058 State Street Garrettsville, OH 44231 Full Service B&M $74,772

    For 2018, The Middlefield Banking Company had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $50,348
    Net interest income $40,743
    Total noninterest income $3,841
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,048
    Trading account gains and fees $0
    Additional Noninterest Income $2,793
    Pre-tax net operating income $17,034
    Securities gains (or losses, -) $0
    Income before extraordinary items $14,358
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,358
    Minority interest net income $0
    Net income $14,358
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,358

    The Middlefield Banking Company's gross interest income from loans was $50,348,000.
    The Middlefield Banking Company's net interest income from loans was $40,743,000.
    The Middlefield Banking Company's fee based income from loans was $1,048,000.
    The Middlefield Banking Company's net income from loans was $14,358,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,605
    Provision for credit losses $840
    Total noninterest expense $26,710
    Salaries and employee benefits $15,034
    Premises and equipment expense $2,902
    Additional noninterest expense $8,774
    Applicable income taxes $2,676
    Net charge-offs $602
    Cash dividends $4,650

    The Middlefield Banking Company's interest expense for loans was $9,605,000.
    The Middlefield Banking Company's payroll and benefits expense were $15,034,000.
    The Middlefield Banking Company's property, plant and equipment expenses $2,902,000.

    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 1.0%
    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 $1,018,814
    Deposits held in domestic offices $1,018,814
    Deposits by Individuals, partnerships, and corporations $923,712
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $56,798
    Deposits by Commercial banks and other depository institutions in U.S. $38,304
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $298,261
    Demand deposits $207,808
    Nontransaction accounts $720,553
    Money market deposit accounts (MMDAs) $196,690
    Other savings deposits (excluding MMDAs) $222,910
    Total time deposits $300,953
    Total time and savings deposits $811,006
    Noninterest-bearing deposits $181,132
    Interest-bearing deposits $837,682
    Retail deposits $949,261
    IRAs and Keogh plan accounts $70,974
    Brokered deposits $110,533
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,248,384
    Cash & Balances due from depository institutions $107,110
    Interest-bearing balances $94,852
    Total securities $98,320
    Federal funds sold & reverse repurchase $0
    Net loans and leases $985,278
    Loan and leases loss allowance $7,428
    Trading account assets $0
    Bank premises and fixed assets $13,003
    Other real estate owned $270
    Goodwill and other intangibles $17,825
    All other assets $26,578

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,248,384
    Total Liabilities $1,120,019
    Total deposits $1,018,814
    Interest-bearing deposits $837,682
    Deposits held in domestic offices $1,018,814
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $398
    Trading liabilities $0
    Other borrowed funds $90,555
    Subordinated debt $0
    All other liabilities $10,252

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $985,278
    Loan and leases loss allowance $7,428
    Total loans and leases (domestic) $992,706
    All real estate loans $892,062
    Real estate loans in domestic offices $892,062
    Construction and development loans $56,731
    Residential 1-4 family construction $21,202
    Other construction, all land development and other land $35,529
    Loans secured by nonfarm nonresidential properties $409,799
    Nonfarm nonresidential secured by owner-occupied properties $105,372
    Commercial real estate & other non-farm, non-residential $304,427
    Multifamily residential real estate $87,070
    1-4 family residential loans $337,084
    Farmland loans $1,378
    Loans held in foreign offices $0
    Farm loans $2,053
    Commercial and industrial loans $77,482
    To non-U.S. addressees $0
    Loans to individuals $16,733
    Credit card loans $778
    Related Plans $142
    Consumer Auto Loans $1,109
    Other loans to individuals $14,704
    All other loans & leases $4,376
    Loans to foreign governments and official institutions $0
    Other loans $54
    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 $3,031
    Non 1-4 family restructured loans & leases $1,775
    Total loans and leases (foreign) $0

    The Middlefield Banking Company had $985,278,000 of loans outstanding in 2018. $892,062,000 of loans were in real estate loans. $56,731,000 of loans were in development loans. $87,070,000 of loans were in multifamily mortgage loans. $337,084,000 of loans were in 1-4 family mortgage loans. $2,053,000 of loans were in farm loans. $778,000 of loans were in credit card loans. $1,109,000 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 489 $131,806 $269,542
    Nonfarm, nonresidential loans - <$100k 85 $4,791 $56,365
    Nonfarm, nonresidential loans - $100-250k 127 $14,580 $114,803
    Nonfarm, nonresidential loans - $250k-1MM 277 $112,435 $405,903
    Commercial & Industrial, US addressed loans - <$1MM 906 $57,302 $63,247
    Commercial & Industrial, US addressed loans - <$100k 645 $14,800 $22,946
    Commercial & Industrial, US addressed loans - $100-250k 149 $12,922 $86,725
    Commercial & Industrial, US addressed loans - $250k-1MM 112 $29,580 $264,107
    Farmland loans - <$1MM 6 $661 $110,167
    Farmland loans - <$100k 4 $187 $46,750
    Farmland loans - $250k-1MM 2 $474 $237,000
    Agriculture operations loans - <$1MM 8 $521 $65,125
    Agriculture operations loans - <$100k 6 $24 $4,000
    Agriculture operations loans - $250k-1MM 2 $497 $248,500