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 Refi and Home Purchase loans. Eaton Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lansing, Grand Rapids, Battle Creek, Jackson, and Detroit among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Eaton Community Bank has an above 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

    294

    Origination Dollar Volume (All Markets)

    $52,520,000

    Employee count

    85

    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) 252 $43,970,000 $174,484 $0 0.00%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 12 $2,690,000 $224,167 $0 0.00%
    BATTLE CREEK, MI (FHA|USDA|VA) 9 $2,055,000 $228,333 $0 0.00%
    Outside of Metro Areas 8 $1,310,000 $163,750 $0 0.00%
    JACKSON, MI (FHA|USDA|VA) 5 $695,000 $139,000 $0 0.00%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 4 $640,000 $160,000 $0 0.00%
    Alma, MI (FHA|USDA|VA) 1 $495,000 $495,000 $0 0.00%
    Traverse City, MI (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
    Sturgis, MI (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Cadillac, MI (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Eaton Community Bank's top markets include Lansing, Grand Rapids, Battle Creek, Jackson, and Detroit among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 294 $52,520,000 $178,639 $0 0.00%

    For 2020, Eaton Community Bank's most frequently originated type of loan was Conventional, with 294 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 204 $36,480,000 $178,824 $0 0.00%
    Home Purchase 75 $14,915,000 $198,867 $0 0.00%
    Other 11 $855,000 $77,727 $0 0.00%
    Home Improvement 4 $270,000 $67,500 $0 0.00%

    For 2020, Eaton Community Bank's most frequently cited loan purpose was Refi, with 204 originations. The 2nd most popular reason was Home Purchase, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 294 $52,520,000 $178,639 $0 0.00%

    For 2020, Eaton Community Bank's most frequently cited loan duration was Other, with 294 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 126 $18,360,000 $145,714 $0 0.00%
    $200k-400k 94 $26,270,000 $279,468 $0 0.00%
    $100,000 or less 67 $4,805,000 $71,716 $0 0.00%
    $400k-600k 7 $3,085,000 $440,714 $0 0.00%

    2020 saw Eaton Community Bank place emphasis on $100k-200k loans with 126 originations, totaling $18,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 86 $19,300,000 $224,419 $0 0.00%
    $50k-75k 62 $7,550,000 $121,774 $0 0.00%
    $75k-100k 48 $8,600,000 $179,167 $0 0.00%
    $50k or less 39 $3,745,000 $96,026 $0 0.00%
    $150k-250k 38 $9,890,000 $260,263 $0 0.00%
    $250k+ 7 $1,545,000 $220,714 $0 0.00%

    Eaton Community Bank lent most frequently to those with incomes in the $100k-150k range, with 86 originations. The second most popular income band? $50k-75k, with 62 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 294 $52,520,000 $178,639 $0 0.00%

    Eaton Community Bank lent most frequently to those with DTI ratios of Exempt%, with 294 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 268 $48,020,000 $179,179 $0 0.00%
    Not provided 15 $2,785,000 $185,667 $0 0.00%
    Not applicable 6 $650,000 $108,333 $0 0.00%
    Asian 3 $645,000 $215,000 $0 0.00%
    Black 2 $420,000 $210,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.08%

    Eaton Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.73%

    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 294 $52,520,000 $178,639

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $330,000 $165,000
    Single Family (1-4 Units):Manufactured 7 $775,000 $110,714
    Single Family (1-4 Units):Site-Built 285 $51,415,000 $180,404

    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 $16,354
    Eaton Federal Savings Bank 109 South Main Nashville, MI 49073 Full Service B&M $24,562
    Eaton Federal Savings Bank 122 West Main Street Stockbridge, MI 49285 Full Service B&M $34,502
    Eaton Federal Savings Bank 223 North Main Street Gregory, MI 48137 Full Service B&M $16,791
    Eaton Federal Savings Bank 236 South Cochran Avenue Charlotte, MI 48813 Full Service B&M $103,051
    Eaton Federal Savings Bank 307 South Main Eaton Rapids, MI 48827 Full Service B&M $51,127
    Eaton Federal Savings Bank 500 South Clinton Grand Ledge, MI 48837 Full Service B&M $50,724

    For 2020, Eaton Community Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,488
    Net interest income $11,006
    Total noninterest income $2,883
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $373
    Trading account gains and fees $0
    Additional Noninterest Income $2,510
    Pre-tax net operating income $3,016
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,556
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,556
    Minority interest net income $0
    Net income $2,556
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,556

    Eaton Community Bank's gross interest income from loans was $13,488,000.
    Eaton Community Bank's net interest income from loans was $11,006,000.
    Eaton Community Bank's fee based income from loans was $373,000.
    Eaton Community Bank's net income from loans was $2,556,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,482
    Provision for credit losses $291
    Total noninterest expense $10,582
    Salaries and employee benefits $5,864
    Premises and equipment expense $848
    Additional noninterest expense $3,870
    Applicable income taxes $460
    Net charge-offs $-50
    Cash dividends $0

    Eaton Community Bank's interest expense for loans was $2,482,000.
    Eaton Community Bank's payroll and benefits expense were $5,864,000.
    Eaton Community Bank's property, plant and equipment expenses $848,000.

    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 $321,517
    Deposits held in domestic offices $321,517
    Deposits by Individuals, partnerships, and corporations $312,580
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $8,599
    Deposits by Commercial banks and other depository institutions in U.S. $333
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $127,066
    Demand deposits $106,477
    Nontransaction accounts $194,451
    Money market deposit accounts (MMDAs) $13,234
    Other savings deposits (excluding MMDAs) $108,125
    Total time deposits $73,092
    Total time and savings deposits $215,040
    Noninterest-bearing deposits $49,879
    Interest-bearing deposits $271,638
    Retail deposits $306,663
    IRAs and Keogh plan accounts $10,289
    Brokered deposits $1,632
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $426,419
    Cash & Balances due from depository institutions $45,072
    Interest-bearing balances $38,551
    Total securities $146,898
    Federal funds sold & reverse repurchase $0
    Net loans and leases $204,279
    Loan and leases loss allowance $2,552
    Trading account assets $0
    Bank premises and fixed assets $4,565
    Other real estate owned $0
    Goodwill and other intangibles $1,046
    All other assets $24,559

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $426,419
    Total Liabilities $363,884
    Total deposits $321,517
    Interest-bearing deposits $271,638
    Deposits held in domestic offices $321,517
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $40,984
    Subordinated debt $0
    All other liabilities $1,383

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $204,279
    Loan and leases loss allowance $2,552
    Total loans and leases (domestic) $206,831
    All real estate loans $189,088
    Real estate loans in domestic offices $189,088
    Construction and development loans $11,416
    Residential 1-4 family construction $2,695
    Other construction, all land development and other land $8,721
    Loans secured by nonfarm nonresidential properties $47,521
    Nonfarm nonresidential secured by owner-occupied properties $33,726
    Commercial real estate & other non-farm, non-residential $13,795
    Multifamily residential real estate $2,131
    1-4 family residential loans $127,268
    Farmland loans $752
    Loans held in foreign offices $0
    Farm loans $474
    Commercial and industrial loans $11,051
    To non-U.S. addressees $0
    Loans to individuals $6,159
    Credit card loans $0
    Related Plans $337
    Consumer Auto Loans $2,596
    Other loans to individuals $3,226
    All other loans & leases $59
    Loans to foreign governments and official institutions $0
    Other loans $59
    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 $1,256
    Non 1-4 family restructured loans & leases $30
    Total loans and leases (foreign) $0

    Eaton Community Bank had $204,279,000 of loans outstanding in 2020. $189,088,000 of loans were in real estate loans. $11,416,000 of loans were in development loans. $2,131,000 of loans were in multifamily mortgage loans. $127,268,000 of loans were in 1-4 family mortgage loans. $474,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,596,000 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 162 $24,724 $152,617
    Nonfarm, nonresidential loans - <$100k 69 $2,928 $42,435
    Nonfarm, nonresidential loans - $100-250k 51 $5,773 $113,196
    Nonfarm, nonresidential loans - $250k-1MM 42 $16,023 $381,500
    Commercial & Industrial, US addressed loans - <$1MM 178 $7,626 $42,843
    Commercial & Industrial, US addressed loans - <$100k 152 $3,566 $23,461
    Commercial & Industrial, US addressed loans - $100-250k 21 $2,345 $111,667
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,715 $343,000
    Farmland loans - <$1MM 7 $752 $107,429
    Farmland loans - <$100k 1 $34 $34,000
    Farmland loans - $100-250k 4 $436 $109,000
    Farmland loans - $250k-1MM 2 $282 $141,000
    Agriculture operations loans - <$1MM 4 $474 $118,500
    Agriculture operations loans - <$100k 3 $38 $12,667
    Agriculture operations loans - $250k-1MM 1 $436 $436,000