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 Refi, Home Purchase, and Cash Out 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: Alma, Lansing, Grand Rapids, Mount Pleasant, and Ludington among others. We have data for 14 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% | 11/21/24 |
| 30 Year Conventional Refi | 6.85% | 11/21/24 |
| 30 Year Cash-out Refi | 6.42% | 11/21/24 |
| 30 Year USDA Purchase | 7.74% | 11/21/24 |
| 15 Year Conventional Purchase | 6.13% | 11/21/24 |
| 15 Year Conventional Refi | 6.25% | 11/21/24 |
| 15 Year Cash-out Refi | 6.25% | 11/21/24 |
| 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
334Origination Dollar Volume (All Markets)
$57,280,000Employee count
99Top 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 |
|---|---|---|---|---|---|
| Alma, MI (FHA|USDA|VA) | 107 | $14,785,000 | $138,178 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 79 | $12,965,000 | $164,114 | $0 | 0.00% |
| Outside of Metro Areas | 50 | $8,590,000 | $171,800 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 52 | $8,480,000 | $163,077 | $0 | 0.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 22 | $4,710,000 | $214,091 | $0 | 0.00% |
| Ludington, MI (FHA|USDA|VA) | 2 | $2,810,000 | $1,405,000 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 6 | $1,310,000 | $218,333 | $0 | 0.00% |
| MIDLAND, MI (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $610,000 | $152,500 | $0 | 0.00% |
| Traverse City, MI (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| BATTLE CREEK, MI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 0.00% |
| SAGINAW, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $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.
Similarity Rank: 84
Similarity Rank: 152
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Similarity Rank: 13920
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 330 | $56,890,000 | $172,394 | $0 | 0.00% |
| USDA | 4 | $390,000 | $97,500 | $0 | 0.00% |
For 2020, Commercial Bank's most frequently originated type of loan was Conventional, with 330 originations. Their 2nd most popular type was USDA, with 4 originations.
Loan Reason
For 2020, Commercial Bank's most frequently cited loan purpose was Refi, with 152 originations. The 2nd most popular reason was Home Purchase, with 100 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 334 | $57,280,000 | $171,497 | $0 | 0.00% |
For 2020, Commercial Bank's most frequently cited loan duration was Other, with 334 originations.
Loan Sizing
2020 saw Commercial Bank place emphasis on $100k-200k loans with 168 originations, totaling $23,900,000 in origination value.
Applicant Income
Commercial Bank lent most frequently to those with incomes in the $100k-150k range, with 80 originations. The second most popular income band? $50k-75k, with 75 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 334 | $57,280,000 | $171,497 | $0 | 0.00% |
Commercial Bank lent most frequently to those with DTI ratios of Exempt%, with 334 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.78%
Commercial Bank has an average approval rate.
Pick Rate
Approvals leading to origination80.24%
Commercial Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 334 | $57,280,000 | $171,497 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMERCE BANK | Conventional home mortgage | Closing on a mortgage | 2 | 66.7% |
| COMMERCE BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 33.3% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Commercial Bank | 101 North Newton Street Middleton, MI 48856 | Full Service B&M | $28,432 |
| Commercial Bank | 101 North Pine River Ithaca, MI 48847 | Full Service B&M | $181,867 |
| Commercial Bank | 104 N Mill St Saint Louis, MI 48880 | Full Service B&M | $11,209 |
| Commercial Bank | 10530 W Carson City Rd Greenville, MI 48838 | Full Service B&M | $29,535 |
| Commercial Bank | 1690 Wright Ave Alma, MI 48801 | Full Service B&M | $12,167 |
| Commercial Bank | 2112 Jolly Road Okemos, MI 48864 | Full Service B&M | $18,477 |
| Commercial Bank | 301 North State Street Alma, MI 48801 | Full Service B&M | $63,449 |
| Commercial Bank | 322 South Jefferson Street Mason, MI 48854 | Full Service B&M | $57,746 |
| Commercial Bank | 629 West State Street Hastings, MI 49058 | Full Service B&M | $39,833 |
| Commercial Bank | 661 North Cedar Street Mason, MI 48854 | Full Service B&M | $6,223 |
For 2020, Commercial Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $19,028 |
| Net interest income | $15,866 |
| Total noninterest income | $2,190 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $221 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,969 |
| Pre-tax net operating income | $5,722 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,758 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,758 |
| Minority interest net income | $0 |
| Net income | $4,758 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,758 |
Commercial Bank's gross interest income from loans was $19,028,000.
Commercial Bank's net interest income from loans was $15,866,000.
Commercial Bank's fee based income from loans was $221,000.
Commercial Bank's net income from loans was $4,758,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,162 |
| Provision for credit losses | $1,450 |
| Total noninterest expense | $10,884 |
| Salaries and employee benefits | $6,564 |
| Premises and equipment expense | $1,270 |
| Additional noninterest expense | $3,050 |
| Applicable income taxes | $964 |
| Net charge-offs | $-13 |
| Cash dividends | $2,840 |
Commercial Bank's interest expense for loans was $3,162,000.
Commercial Bank's payroll and benefits expense were $6,564,000.
Commercial Bank's property, plant and equipment expenses $1,270,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 2.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 1.0% |
| Personal loans | 22.0% |
| Credit card loans | 0.0% |
| Other individual loans | 22.0% |
| Auto loans | 0.0% |
| Other consumer loans | 33.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $452,661 |
| Deposits held in domestic offices | $452,661 |
| Deposits by Individuals, partnerships, and corporations | $416,920 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $35,511 |
| Deposits by Commercial banks and other depository institutions in U.S. | $230 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $50,529 |
| Demand deposits | $47,681 |
| Nontransaction accounts | $402,132 |
| Money market deposit accounts (MMDAs) | $211,517 |
| Other savings deposits (excluding MMDAs) | $84,418 |
| Total time deposits | $106,197 |
| Total time and savings deposits | $404,980 |
| Noninterest-bearing deposits | $121,550 |
| Interest-bearing deposits | $331,111 |
| Retail deposits | $378,627 |
| IRAs and Keogh plan accounts | $5,196 |
| Brokered deposits | $61,661 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $547,227 |
| Cash & Balances due from depository institutions | $70,523 |
| Interest-bearing balances | $63,466 |
| Total securities | $37,932 |
| Federal funds sold & reverse repurchase | $208 |
| Net loans and leases | $404,892 |
| Loan and leases loss allowance | $4,215 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,385 |
| Other real estate owned | $111 |
| Goodwill and other intangibles | $3,706 |
| All other assets | $21,470 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $547,227 |
| Total Liabilities | $494,021 |
| Total deposits | $452,661 |
| Interest-bearing deposits | $331,111 |
| Deposits held in domestic offices | $452,661 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $39,480 |
| Subordinated debt | $0 |
| All other liabilities | $1,880 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $404,892 |
| Loan and leases loss allowance | $4,215 |
| Total loans and leases (domestic) | $409,107 |
| All real estate loans | $344,488 |
| Real estate loans in domestic offices | $344,488 |
| Construction and development loans | $10,136 |
| Residential 1-4 family construction | $4,139 |
| Other construction, all land development and other land | $5,997 |
| Loans secured by nonfarm nonresidential properties | $129,836 |
| Nonfarm nonresidential secured by owner-occupied properties | $63,565 |
| Commercial real estate & other non-farm, non-residential | $66,271 |
| Multifamily residential real estate | $17,496 |
| 1-4 family residential loans | $171,162 |
| Farmland loans | $15,858 |
| Loans held in foreign offices | $0 |
| Farm loans | $2,218 |
| Commercial and industrial loans | $53,210 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $7,164 |
| Credit card loans | $0 |
| Related Plans | $3,362 |
| Consumer Auto Loans | $2,301 |
| Other loans to individuals | $1,501 |
| All other loans & leases | $2,027 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $45 |
| 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 | $6,238 |
| Non 1-4 family restructured loans & leases | $3,618 |
| Total loans and leases (foreign) | $0 |
Commercial Bank had $404,892,000 of loans outstanding in 2020. $344,488,000 of loans were in real estate loans. $10,136,000 of loans were in development loans. $17,496,000 of loans were in multifamily mortgage loans. $171,162,000 of loans were in 1-4 family mortgage loans. $2,218,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,301,000 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 | 244 | $56,211 | $230,373 |
| Nonfarm, nonresidential loans - <$100k | 50 | $2,439 | $48,780 |
| Nonfarm, nonresidential loans - $100-250k | 67 | $9,244 | $137,970 |
| Nonfarm, nonresidential loans - $250k-1MM | 127 | $44,528 | $350,614 |
| Commercial & Industrial, US addressed loans - <$1MM | 737 | $45,751 | $62,077 |
| Commercial & Industrial, US addressed loans - <$100k | 544 | $13,712 | $25,206 |
| Commercial & Industrial, US addressed loans - $100-250k | 123 | $12,730 | $103,496 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 70 | $19,309 | $275,843 |
| Farmland loans - <$1MM | 72 | $8,856 | $123,000 |
| Farmland loans - <$100k | 18 | $853 | $47,389 |
| Farmland loans - $100-250k | 32 | $3,449 | $107,781 |
| Farmland loans - $250k-1MM | 22 | $4,554 | $207,000 |
| Agriculture operations loans - <$1MM | 37 | $2,218 | $59,946 |
| Agriculture operations loans - <$100k | 25 | $546 | $21,840 |
| Agriculture operations loans - $100-250k | 8 | $628 | $78,500 |
| Agriculture operations loans - $250k-1MM | 4 | $1,044 | $261,000 |