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, Detroit, Battle Creek, and Ann Arbor among others. We have data for 11 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

    223

    Origination Dollar Volume (All Markets)

    $38,445,000

    Employee count

    76

    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) 174 $30,700,000 $176,437 $0 0.00%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 14 $2,170,000 $155,000 $0 0.00%
    Outside of Metro Areas 12 $1,700,000 $141,667 $0 0.00%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 6 $1,220,000 $203,333 $0 0.00%
    BATTLE CREEK, MI (FHA|USDA|VA) 6 $940,000 $156,667 $0 0.00%
    ANN ARBOR, MI (FHA|USDA|VA) 2 $520,000 $260,000 $0 0.00%
    JACKSON, MI (FHA|USDA|VA) 4 $340,000 $85,000 $0 0.00%
    Alma, MI (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    Big Rapids, MI (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    Cadillac, MI (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Mount Pleasant, MI (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
    Eaton Community Bank's top markets include Lansing, Grand Rapids, Detroit, Battle Creek, and Ann Arbor among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 223 $38,445,000 $172,399 $0 0.00%

    For 2021, Eaton Community Bank's most frequently originated type of loan was Conventional, with 223 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 151 $26,345,000 $174,470 $0 0.00%
    Home Purchase 54 $10,010,000 $185,370 $0 0.00%
    Other 16 $1,920,000 $120,000 $0 0.00%
    Home Improvement 2 $170,000 $85,000 $0 0.00%

    For 2021, Eaton Community Bank's most frequently cited loan purpose was Refi, with 151 originations. The 2nd most popular reason was Home Purchase, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 223 $38,445,000 $172,399 $0 0.00%

    For 2021, Eaton Community Bank's most frequently cited loan duration was Other, with 223 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 97 $14,335,000 $147,784 $0 0.00%
    $200k-400k 70 $18,720,000 $267,429 $0 0.00%
    $100,000 or less 53 $3,715,000 $70,094 $0 0.00%
    $400k-600k 2 $950,000 $475,000 $0 0.00%
    $600k-1MM 1 $725,000 $725,000 $0 0.00%

    2021 saw Eaton Community Bank place emphasis on $100k-200k loans with 97 originations, totaling $14,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 52 $6,840,000 $131,538 $0 0.00%
    $100k-150k 47 $9,765,000 $207,766 $0 0.00%
    $75k-100k 40 $8,040,000 $201,000 $0 0.00%
    $150k-250k 34 $7,640,000 $224,706 $0 0.00%
    $50k or less 32 $2,660,000 $83,125 $0 0.00%
    $250k+ 5 $815,000 $163,000 $0 0.00%

    Eaton Community Bank lent most frequently to those with incomes in the $50k-75k range, with 52 originations. The second most popular income band? $100k-150k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 223 $38,445,000 $172,399 $0 0.00%

    Eaton Community Bank lent most frequently to those with DTI ratios of Exempt%, with 223 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 180 $29,560,000 $164,222 $0 0.00%
    Not provided 28 $5,760,000 $205,714 $0 0.00%
    Not applicable 8 $1,840,000 $230,000 $0 0.00%
    Asian 2 $600,000 $300,000 $0 0.00%
    American Indian 4 $560,000 $140,000 $0 0.00%
    Black 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.71%

    Eaton Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.57%

    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 223 $38,445,000 $172,399

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    223 $38,445,000 $172,399

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Eaton Community Bank 103 South Main Olivet, MI 49076 Full Service B&M $20,307
    Eaton Community Bank 109 South Main Nashville, MI 49073 Full Service B&M $30,098
    Eaton Community Bank 122 West Main Street Stockbridge, MI 49285 Full Service B&M $36,911
    Eaton Community Bank 223 North Main Street Gregory, MI 48137 Full Service B&M $19,992
    Eaton Community Bank 236 S Cochran Ave Charlotte, MI 48813 Full Service B&M $113,909
    Eaton Community Bank 307 South Main Eaton Rapids, MI 48827 Full Service B&M $61,733
    Eaton Community Bank 500 South Clinton Grand Ledge, MI 48837 Full Service B&M $61,359

    For 2021, Eaton Community Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,079
    Net interest income $10,985
    Total noninterest income $2,976
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $372
    Trading account gains and fees $0
    Additional Noninterest Income $2,604
    Pre-tax net operating income $-1,416
    Securities gains (or losses, -) $7
    Income before extraordinary items $-1,751
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-1,751
    Minority interest net income $0
    Net income $-1,751
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-1,758

    Eaton Community Bank's gross interest income from loans was $13,079,000.
    Eaton Community Bank's net interest income from loans was $10,985,000.
    Eaton Community Bank's fee based income from loans was $372,000.
    Eaton Community Bank's net income from loans was $-1,751,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,094
    Provision for credit losses $176
    Total noninterest expense $15,201
    Salaries and employee benefits $10,036
    Premises and equipment expense $834
    Additional noninterest expense $4,331
    Applicable income taxes $342
    Net charge-offs $-32
    Cash dividends $0

    Eaton Community Bank's interest expense for loans was $2,094,000.
    Eaton Community Bank's payroll and benefits expense were $10,036,000.
    Eaton Community Bank's property, plant and equipment expenses $834,000.

    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 1.0%
    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 $347,698
    Deposits held in domestic offices $347,698
    Deposits by Individuals, partnerships, and corporations $332,052
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $15,308
    Deposits by Commercial banks and other depository institutions in U.S. $337
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $146,033
    Demand deposits $123,282
    Nontransaction accounts $201,665
    Money market deposit accounts (MMDAs) $17,671
    Other savings deposits (excluding MMDAs) $125,202
    Total time deposits $58,792
    Total time and savings deposits $224,416
    Noninterest-bearing deposits $55,148
    Interest-bearing deposits $292,550
    Retail deposits $338,444
    IRAs and Keogh plan accounts $10,183
    Brokered deposits $628
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $437,737
    Cash & Balances due from depository institutions $22,213
    Interest-bearing balances $17,746
    Total securities $200,115
    Federal funds sold & reverse repurchase $0
    Net loans and leases $180,509
    Loan and leases loss allowance $2,760
    Trading account assets $0
    Bank premises and fixed assets $8,597
    Other real estate owned $0
    Goodwill and other intangibles $1,015
    All other assets $25,288

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $437,737
    Total Liabilities $377,541
    Total deposits $347,698
    Interest-bearing deposits $292,550
    Deposits held in domestic offices $347,698
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $27,500
    Subordinated debt $0
    All other liabilities $2,343

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $180,509
    Loan and leases loss allowance $2,760
    Total loans and leases (domestic) $183,269
    All real estate loans $165,396
    Real estate loans in domestic offices $165,396
    Construction and development loans $5,721
    Residential 1-4 family construction $1,729
    Other construction, all land development and other land $3,992
    Loans secured by nonfarm nonresidential properties $57,640
    Nonfarm nonresidential secured by owner-occupied properties $36,425
    Commercial real estate & other non-farm, non-residential $21,215
    Multifamily residential real estate $1,905
    1-4 family residential loans $99,087
    Farmland loans $1,043
    Loans held in foreign offices $0
    Farm loans $446
    Commercial and industrial loans $8,433
    To non-U.S. addressees $0
    Loans to individuals $8,953
    Credit card loans $0
    Related Plans $309
    Consumer Auto Loans $2,564
    Other loans to individuals $6,080
    All other loans & leases $42
    Loans to foreign governments and official institutions $0
    Other loans $42
    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 $987
    Non 1-4 family restructured loans & leases $27
    Total loans and leases (foreign) $0

    Eaton Community Bank had $180,509,000 of loans outstanding in 2021. $165,396,000 of loans were in real estate loans. $5,721,000 of loans were in development loans. $1,905,000 of loans were in multifamily mortgage loans. $99,087,000 of loans were in 1-4 family mortgage loans. $446,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,564,000 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 183 $30,932 $169,027
    Nonfarm, nonresidential loans - <$100k 73 $2,974 $40,740
    Nonfarm, nonresidential loans - $100-250k 54 $6,231 $115,389
    Nonfarm, nonresidential loans - $250k-1MM 56 $21,727 $387,982
    Commercial & Industrial, US addressed loans - <$1MM 123 $5,828 $47,382
    Commercial & Industrial, US addressed loans - <$100k 99 $2,190 $22,121
    Commercial & Industrial, US addressed loans - $100-250k 18 $1,879 $104,389
    Commercial & Industrial, US addressed loans - $250k-1MM 6 $1,759 $293,167
    Farmland loans - <$1MM 10 $1,043 $104,300
    Farmland loans - <$100k 1 $17 $17,000
    Farmland loans - $100-250k 7 $796 $113,714
    Farmland loans - $250k-1MM 2 $230 $115,000
    Agriculture operations loans - <$1MM 5 $446 $89,200
    Agriculture operations loans - <$100k 4 $19 $4,750
    Agriculture operations loans - $250k-1MM 1 $427 $427,000