Commercial Bank Mortgage Rates, Fees & Info

Alma, MI

LEI: 549300FTVK4FVXS1IW37

Tax ID: 38-1688835

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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.

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Originations

155

Origination Dollar Volume (All Markets)

$20,685,000

Employee count

104

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)	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%

Commercial Bank's top markets include Lansing, Alma, Grand Rapids, Mount Pleasant, and Detroit among others.

Their top states include:

Michigan (FHA|USDA|VA)

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.

Isabella Bank
Similarity Rank: 76

Mercantile Bank of Michigan
Similarity Rank: 204

CHEMECAL BANK
Similarity Rank: 966

The Huntington National Bank
Similarity Rank: 1784

ACADEMY MORTGAGE CORPORATION
Similarity Rank: 1824

QUICKEN LOANS, LLC
Similarity Rank: 11136

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

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	84	$11,210,000	$133,452	$0	0.00%
Refi	38	$4,560,000	$120,000	$0	0.00%
Cash Out Refi	25	$3,195,000	$127,800	$0	0.00%
Other	7	$1,465,000	$209,286	$0	0.00%
Home Improvement	1	$255,000	$255,000	$0	0.00%

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

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	67	$9,705,000	$144,851	$0	0.00%
$100,000 or less	62	$4,020,000	$64,839	$0	0.00%
$200k-400k	25	$6,355,000	$254,200	$0	0.00%
$600k-1MM	1	$605,000	$605,000	$0	0.00%

2018 saw Commercial Bank place emphasis on $100k-200k loans with 67 originations, totaling $9,705,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	42	$4,710,000	$112,143	$0	0.00%
$50k or less	30	$2,190,000	$73,000	$0	0.00%
$75k-100k	28	$3,860,000	$137,857	$0	0.00%
$100k-150k	25	$3,985,000	$159,400	$0	0.00%
$150k-250k	14	$3,450,000	$246,429	$0	0.00%
$250k+	4	$940,000	$235,000	$0	0.00%

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

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	137	$18,305,000	$133,613	$0	0.00%
Not applicable	12	$1,550,000	$129,167	$0	0.00%
Not provided	4	$660,000	$165,000	$0	0.00%
Black	1	$105,000	$105,000	$0	0.00%
Asian	1	$65,000	$65,000	$0	0.00%

Approval Rates

Total approvals of all applications
75.62%

Commercial Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
85.81%

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

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	3	$425,000	$141,667
Single Family (1-4 Units):Manufactured	3	$275,000	$91,667
Single Family (1-4 Units):Site-Built	149	$19,985,000	$134,128

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