Eaton Community Bank Mortgage Rates, Fees & Info

Charlotte, MS

LEI: 54930089XPEJZALBU127

Tax ID: 38-0414093

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Eaton Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Eaton Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Grand Rapids, Ann Arbor, Battle Creek, and Traverse City among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Eaton Community Bank 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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    Originations

    155

    Origination Dollar Volume (All Markets)

    $25,505,000

    Employee count

    92

    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
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 131 $20,355,000 $155,382 $0 0.00%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 6 $1,660,000 $276,667 $0 0.00%
    Outside of Metro Areas 8 $1,120,000 $140,000 $0 0.00%
    ANN ARBOR, MI (FHA|USDA|VA) 2 $820,000 $410,000 $0 0.00%
    BATTLE CREEK, MI (FHA|USDA|VA) 3 $595,000 $198,333 $0 0.00%
    Traverse City, MI (FHA|USDA|VA) 2 $400,000 $200,000 $0 0.00%
    Mount Pleasant, MI (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
    JACKSON, MI (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
    Eaton Community Bank's top markets include Lansing, Grand Rapids, Ann Arbor, Battle Creek, and Traverse City among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 155 $25,505,000 $164,548 $0 0.00%

    For 2019, Eaton Community Bank's most frequently originated type of loan was Conventional, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 77 $16,565,000 $215,130 $0 0.00%
    Refi 53 $7,585,000 $143,113 $0 0.00%
    Other 15 $765,000 $51,000 $0 0.00%
    Home Improvement 10 $590,000 $59,000 $0 0.00%

    For 2019, Eaton Community Bank's most frequently cited loan purpose was Home Purchase, with 77 originations. The 2nd most popular reason was Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 155 $25,505,000 $164,548 $0 0.00%

    For 2019, Eaton Community Bank's most frequently cited loan duration was Other, with 155 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 56 $8,120,000 $145,000 $0 0.00%
    $100,000 or less 55 $3,265,000 $59,364 $0 0.00%
    $200k-400k 38 $10,360,000 $272,632 $0 0.00%
    $600k-1MM 4 $2,880,000 $720,000 $0 0.00%
    $400k-600k 2 $880,000 $440,000 $0 0.00%

    2019 saw Eaton Community Bank place emphasis on $100k-200k loans with 56 originations, totaling $8,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $8,190,000 $186,136 $0 0.00%
    $50k-75k 36 $4,040,000 $112,222 $0 0.00%
    $50k or less 24 $2,190,000 $91,250 $0 0.00%
    $75k-100k 21 $3,295,000 $156,905 $0 0.00%
    $150k-250k 13 $3,505,000 $269,615 $0 0.00%
    $250k+ 3 $1,955,000 $651,667 $0 0.00%

    Eaton Community Bank lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $50k-75k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 155 $25,505,000 $164,548 $0 0.00%

    Eaton Community Bank lent most frequently to those with DTI ratios of Exempt%, with 155 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 146 $23,850,000 $163,356 $0 0.00%
    Not applicable 6 $1,380,000 $230,000 $0 0.00%
    Black 2 $220,000 $110,000 $0 0.00%
    American Indian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.17%

    Eaton Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    67.10%

    Eaton Community Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 155 $25,505,000 $164,548

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $770,000 $385,000
    Single Family (1-4 Units):Manufactured 4 $390,000 $97,500
    Single Family (1-4 Units):Site-Built 149 $24,345,000 $163,389

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Eaton Federal Savings Bank 103 South Main Olivet, MI 49076 Full Service B&M $14,964
    Eaton Federal Savings Bank 109 South Main Nashville, MI 49073 Full Service B&M $22,225
    Eaton Federal Savings Bank 122 West Main Street Stockbridge, MI 49285 Full Service B&M $30,326
    Eaton Federal Savings Bank 223 North Main Street Gregory, MI 48137 Full Service B&M $14,894
    Eaton Federal Savings Bank 236 South Cochran Avenue Charlotte, MI 48813 Full Service B&M $96,075
    Eaton Federal Savings Bank 307 South Main Eaton Rapids, MI 48827 Full Service B&M $44,308
    Eaton Federal Savings Bank 500 South Clinton Grand Ledge, MI 48837 Full Service B&M $46,618

    For 2019, Eaton Community Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,087
    Net interest income $11,445
    Total noninterest income $2,115
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $491
    Trading account gains and fees $0
    Additional Noninterest Income $1,624
    Pre-tax net operating income $2,702
    Securities gains (or losses, -) $-232
    Income before extraordinary items $2,161
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,161
    Minority interest net income $0
    Net income $2,161
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,362

    Eaton Community Bank's gross interest income from loans was $14,087,000.
    Eaton Community Bank's net interest income from loans was $11,445,000.
    Eaton Community Bank's fee based income from loans was $491,000.
    Eaton Community Bank's net income from loans was $2,161,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,642
    Provision for credit losses $-1
    Total noninterest expense $10,859
    Salaries and employee benefits $6,060
    Premises and equipment expense $911
    Additional noninterest expense $3,888
    Applicable income taxes $309
    Net charge-offs $22
    Cash dividends $0

    Eaton Community Bank's interest expense for loans was $2,642,000.
    Eaton Community Bank's payroll and benefits expense were $6,060,000.
    Eaton Community Bank's property, plant and equipment expenses $911,000.

    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 2.0%
    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 $274,709
    Deposits held in domestic offices $274,709
    Deposits by Individuals, partnerships, and corporations $261,907
    Deposits by U.S. Government $40
    Deposits by States and political subdivisions in the U.S. $12,334
    Deposits by Commercial banks and other depository institutions in U.S. $428
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $101,918
    Demand deposits $85,456
    Nontransaction accounts $172,791
    Money market deposit accounts (MMDAs) $11,281
    Other savings deposits (excluding MMDAs) $88,914
    Total time deposits $72,596
    Total time and savings deposits $189,253
    Noninterest-bearing deposits $38,501
    Interest-bearing deposits $236,208
    Retail deposits $261,573
    IRAs and Keogh plan accounts $10,311
    Brokered deposits $602
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $375,243
    Cash & Balances due from depository institutions $19,248
    Interest-bearing balances $14,080
    Total securities $98,258
    Federal funds sold & reverse repurchase $0
    Net loans and leases $228,052
    Loan and leases loss allowance $2,211
    Trading account assets $0
    Bank premises and fixed assets $4,330
    Other real estate owned $0
    Goodwill and other intangibles $1,034
    All other assets $24,321

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $375,243
    Total Liabilities $317,995
    Total deposits $274,709
    Interest-bearing deposits $236,208
    Deposits held in domestic offices $274,709
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $42,500
    Subordinated debt $0
    All other liabilities $786

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $228,052
    Loan and leases loss allowance $2,211
    Total loans and leases (domestic) $230,263
    All real estate loans $217,342
    Real estate loans in domestic offices $217,342
    Construction and development loans $9,280
    Residential 1-4 family construction $3,866
    Other construction, all land development and other land $5,414
    Loans secured by nonfarm nonresidential properties $46,668
    Nonfarm nonresidential secured by owner-occupied properties $33,852
    Commercial real estate & other non-farm, non-residential $12,816
    Multifamily residential real estate $2,783
    1-4 family residential loans $157,679
    Farmland loans $932
    Loans held in foreign offices $0
    Farm loans $573
    Commercial and industrial loans $7,090
    To non-U.S. addressees $0
    Loans to individuals $5,163
    Credit card loans $0
    Related Plans $426
    Consumer Auto Loans $3,073
    Other loans to individuals $1,664
    All other loans & leases $95
    Loans to foreign governments and official institutions $0
    Other loans $95
    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 $1,492
    Non 1-4 family restructured loans & leases $35
    Total loans and leases (foreign) $0

    Eaton Community Bank had $228,052,000 of loans outstanding in 2019. $217,342,000 of loans were in real estate loans. $9,280,000 of loans were in development loans. $2,783,000 of loans were in multifamily mortgage loans. $157,679,000 of loans were in 1-4 family mortgage loans. $573,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,073,000 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 163 $26,250 $161,043
    Nonfarm, nonresidential loans - <$100k 63 $2,401 $38,111
    Nonfarm, nonresidential loans - $100-250k 52 $5,810 $111,731
    Nonfarm, nonresidential loans - $250k-1MM 48 $18,039 $375,813
    Commercial & Industrial, US addressed loans - <$1MM 101 $6,007 $59,475
    Commercial & Industrial, US addressed loans - <$100k 82 $2,090 $25,488
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,600 $114,286
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $2,317 $463,400
    Farmland loans - <$1MM 8 $932 $116,500
    Farmland loans - <$100k 2 $129 $64,500
    Farmland loans - $100-250k 4 $461 $115,250
    Farmland loans - $250k-1MM 2 $342 $171,000
    Agriculture operations loans - <$1MM 3 $573 $191,000
    Agriculture operations loans - <$100k 2 $74 $37,000
    Agriculture operations loans - $250k-1MM 1 $499 $499,000