Commercial Bank Mortgage Rates, Fees & Info
Alma, MILEI: 549300FTVK4FVXS1IW37
Tax ID: 38-1688835
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Mortgage Data
Bank Data
Review & Overview
Commercial Bank is a smaller bank specializing in Home Purchase and Refi loans. Commercial Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Lansing, Alma, Grand Rapids, Mount Pleasant, and Detroit among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)Commercial 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.62% | 5/27/24 |
| 30 Year Conventional Refi | 6.85% | 5/27/24 |
| 30 Year Cash-out Refi | 6.42% | 5/27/24 |
| 30 Year USDA Purchase | 7.74% | 5/27/24 |
| 15 Year Conventional Purchase | 6.13% | 5/27/24 |
| 15 Year Conventional Refi | 6.25% | 5/27/24 |
| 15 Year Cash-out Refi | 6.25% | 5/27/24 |
| 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. | ||
Commercial Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
155Origination Dollar Volume (All Markets)
$20,685,000Employee count
104Top 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) | 43 | $5,695,000 | $132,442 | $0 | 0.00% |
| Alma, MI (FHA|USDA|VA) | 44 | $4,920,000 | $111,818 | $0 | 0.00% |
| Outside of Metro Areas | 24 | $3,380,000 | $140,833 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 17 | $2,395,000 | $140,882 | $0 | 0.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 15 | $1,815,000 | $121,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $0 | 0.00% |
| MIDLAND, MI (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| BAY CITY, MI (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Commercial Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 153 | $20,445,000 | $133,627 | $0 | 0.00% |
| USDA | 2 | $240,000 | $120,000 | $0 | 0.00% |
For 2018, Commercial Bank's most frequently originated type of loan was Conventional, with 153 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
For 2018, Commercial Bank's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Refi, with 38 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 155 | $20,685,000 | $133,452 | $0 | 0.00% |
For 2018, Commercial Bank's most frequently cited loan duration was Other, with 155 originations.
Loan Sizing
2018 saw Commercial Bank place emphasis on $100k-200k loans with 67 originations, totaling $9,705,000 in origination value.
Applicant Income
Commercial Bank lent most frequently to those with incomes in the $50k-75k range, with 42 originations. The second most popular income band? $50k or less, with 30 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 155 | $20,685,000 | $133,452 | $0 | 0.00% |
Commercial Bank lent most frequently to those with DTI ratios of Exempt%, with 155 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.62%
Commercial Bank has a below average approval rate.
Pick Rate
Approvals leading to origination85.81%
Commercial Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 155 | $20,685,000 | $133,452 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMERCE BANK | VA mortgage | Trouble during payment process | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Commercial Bank | 101 North Newton Street Middleton, MI 48856 | Full Service B&M | $24,478 |
| Commercial Bank | 101 North Pine River Ithaca, MI 48847 | Full Service B&M | $190,371 |
| Commercial Bank | 104 N Mill St Saint Louis, MI 48880 | Full Service B&M | $8,929 |
| Commercial Bank | 10530 W Carson City Rd Greenville, MI 48838 | Full Service B&M | $23,607 |
| Commercial Bank | 1690 Wright Ave Alma, MI 48801 | Full Service B&M | $8,031 |
| Commercial Bank | 2112 Jolly Road Okemos, MI 48864 | Full Service B&M | $3,640 |
| Commercial Bank | 301 North State Street Alma, MI 48801 | Full Service B&M | $49,811 |
| Commercial Bank | 322 South Jefferson Street Mason, MI 48854 | Full Service B&M | $53,709 |
| Commercial Bank | 629 West State Street Hastings, MI 49058 | Full Service B&M | $36,218 |
| Commercial Bank | 661 North Cedar Street Mason, MI 48854 | Limited, Drive-thru | $4,040 |
For 2018, Commercial Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $19,246 |
| Net interest income | $14,768 |
| Total noninterest income | $2,074 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $334 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,740 |
| Pre-tax net operating income | $6,161 |
| Securities gains (or losses, -) | $-9 |
| Income before extraordinary items | $5,006 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,006 |
| Minority interest net income | $0 |
| Net income | $5,006 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,013 |
Commercial Bank's gross interest income from loans was $19,246,000.
Commercial Bank's net interest income from loans was $14,768,000.
Commercial Bank's fee based income from loans was $334,000.
Commercial Bank's net income from loans was $5,006,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,478 |
| Provision for credit losses | $0 |
| Total noninterest expense | $10,681 |
| Salaries and employee benefits | $6,286 |
| Premises and equipment expense | $1,369 |
| Additional noninterest expense | $3,026 |
| Applicable income taxes | $1,146 |
| Net charge-offs | $8 |
| Cash dividends | $2,664 |
Commercial Bank's interest expense for loans was $4,478,000.
Commercial Bank's payroll and benefits expense were $6,286,000.
Commercial Bank's property, plant and equipment expenses $1,369,000.
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 | 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 | $422,237 |
| Deposits held in domestic offices | $422,237 |
| Deposits by Individuals, partnerships, and corporations | $385,407 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $33,662 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,168 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $29,111 |
| Demand deposits | $21,588 |
| Nontransaction accounts | $393,126 |
| Money market deposit accounts (MMDAs) | $165,190 |
| Other savings deposits (excluding MMDAs) | $69,877 |
| Total time deposits | $158,060 |
| Total time and savings deposits | $400,649 |
| Noninterest-bearing deposits | $83,050 |
| Interest-bearing deposits | $339,187 |
| Retail deposits | $304,666 |
| IRAs and Keogh plan accounts | $6,379 |
| Brokered deposits | $106,805 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $526,700 |
| Cash & Balances due from depository institutions | $85,959 |
| Interest-bearing balances | $78,986 |
| Total securities | $33,848 |
| Federal funds sold & reverse repurchase | $255 |
| Net loans and leases | $372,291 |
| Loan and leases loss allowance | $2,673 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,255 |
| Other real estate owned | $374 |
| Goodwill and other intangibles | $3,991 |
| All other assets | $21,727 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $526,700 |
| Total Liabilities | $479,289 |
| Total deposits | $422,237 |
| Interest-bearing deposits | $339,187 |
| Deposits held in domestic offices | $422,237 |
| % insured (estimated) | $86 |
| Federal funds purchased and repurchase agreements | $6,946 |
| Trading liabilities | $0 |
| Other borrowed funds | $48,105 |
| Subordinated debt | $0 |
| All other liabilities | $2,001 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $372,291 |
| Loan and leases loss allowance | $2,673 |
| Total loans and leases (domestic) | $374,964 |
| All real estate loans | $332,629 |
| Real estate loans in domestic offices | $332,629 |
| Construction and development loans | $2,393 |
| Residential 1-4 family construction | $1,581 |
| Other construction, all land development and other land | $812 |
| Loans secured by nonfarm nonresidential properties | $118,929 |
| Nonfarm nonresidential secured by owner-occupied properties | $53,242 |
| Commercial real estate & other non-farm, non-residential | $65,687 |
| Multifamily residential real estate | $17,877 |
| 1-4 family residential loans | $173,089 |
| Farmland loans | $20,341 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,529 |
| Commercial and industrial loans | $27,657 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $9,503 |
| Credit card loans | $0 |
| Related Plans | $5,026 |
| Consumer Auto Loans | $2,329 |
| Other loans to individuals | $2,148 |
| All other loans & leases | $1,646 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| 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 | $9,267 |
| Non 1-4 family restructured loans & leases | $5,702 |
| Total loans and leases (foreign) | $0 |
Commercial Bank had $372,291,000 of loans outstanding in 2018. $332,629,000 of loans were in real estate loans. $2,393,000 of loans were in development loans. $17,877,000 of loans were in multifamily mortgage loans. $173,089,000 of loans were in 1-4 family mortgage loans. $3,529,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,329,000 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 | 267 | $58,581 | $219,404 |
| Nonfarm, nonresidential loans - <$100k | 61 | $2,750 | $45,082 |
| Nonfarm, nonresidential loans - $100-250k | 85 | $10,897 | $128,200 |
| Nonfarm, nonresidential loans - $250k-1MM | 121 | $44,934 | $371,355 |
| Commercial & Industrial, US addressed loans - <$1MM | 304 | $18,883 | $62,115 |
| Commercial & Industrial, US addressed loans - <$100k | 169 | $3,525 | $20,858 |
| Commercial & Industrial, US addressed loans - $100-250k | 84 | $5,258 | $62,595 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 51 | $10,100 | $198,039 |
| Farmland loans - <$1MM | 75 | $9,305 | $124,067 |
| Farmland loans - <$100k | 17 | $873 | $51,353 |
| Farmland loans - $100-250k | 41 | $4,488 | $109,463 |
| Farmland loans - $250k-1MM | 17 | $3,944 | $232,000 |
| Agriculture operations loans - <$1MM | 55 | $3,480 | $63,273 |
| Agriculture operations loans - <$100k | 29 | $814 | $28,069 |
| Agriculture operations loans - $100-250k | 20 | $1,579 | $78,950 |
| Agriculture operations loans - $250k-1MM | 6 | $1,087 | $181,167 |