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: Grand Rapids, Lansing, Alma, Mount Pleasant, and Jackson among others. We have data for 13 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% | 11/17/24 |
| 30 Year Conventional Refi | 6.85% | 11/17/24 |
| 30 Year Cash-out Refi | 6.42% | 11/17/24 |
| 30 Year USDA Purchase | 7.74% | 11/17/24 |
| 15 Year Conventional Purchase | 6.13% | 11/17/24 |
| 15 Year Conventional Refi | 6.25% | 11/17/24 |
| 15 Year Cash-out Refi | 6.25% | 11/17/24 |
| 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
278Origination Dollar Volume (All Markets)
$50,300,000Employee count
106Top 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 |
|---|---|---|---|---|---|
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 67 | $16,435,000 | $245,299 | $0 | 0.00% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 68 | $11,730,000 | $172,500 | $0 | 0.00% |
| Alma, MI (FHA|USDA|VA) | 80 | $11,000,000 | $137,500 | $0 | 0.00% |
| Outside of Metro Areas | 29 | $4,955,000 | $170,862 | $0 | 0.00% |
| Mount Pleasant, MI (FHA|USDA|VA) | 21 | $3,865,000 | $184,048 | $0 | 0.00% |
| JACKSON, MI (FHA|USDA|VA) | 4 | $980,000 | $245,000 | $0 | 0.00% |
| SAGINAW, MI (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| Cadillac, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Holland, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Coldwater, MI (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Big Rapids, MI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $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 | 277 | $50,165,000 | $181,101 | $0 | 0.00% |
| USDA | 1 | $135,000 | $135,000 | $0 | 0.00% |
For 2021, Commercial Bank's most frequently originated type of loan was Conventional, with 277 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2021, Commercial Bank's most frequently cited loan purpose was Refi, with 108 originations. The 2nd most popular reason was Home Purchase, with 83 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 278 | $50,300,000 | $180,935 | $0 | 0.00% |
For 2021, Commercial Bank's most frequently cited loan duration was Other, with 278 originations.
Loan Sizing
2021 saw Commercial Bank place emphasis on $100k-200k loans with 123 originations, totaling $17,155,000 in origination value.
Applicant Income
Commercial Bank lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $50k-75k, with 54 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 278 | $50,300,000 | $180,935 | $0 | 0.00% |
Commercial Bank lent most frequently to those with DTI ratios of Exempt%, with 278 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.76%
Commercial Bank has a below average approval rate.
Pick Rate
Approvals leading to origination87.41%
Commercial Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 278 | $50,300,000 | $180,935 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| COMMERCE BANK | Conventional home mortgage | Closing on a mortgage | 1 | 33.3% |
| COMMERCE BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 33.3% |
| COMMERCE BANK | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 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 | $37,928 |
| Commercial Bank | 101 North Pine River Ithaca, MI 48847 | Full Service B&M | $180,604 |
| Commercial Bank | 104 N Mill St Saint Louis, MI 48880 | Full Service B&M | $25,221 |
| Commercial Bank | 10530 W Carson City Rd Greenville, MI 48838 | Full Service B&M | $32,642 |
| Commercial Bank | 1690 Wright Ave Alma, MI 48801 | Full Service B&M | $13,415 |
| Commercial Bank | 2112 Jolly Road Okemos, MI 48864 | Full Service B&M | $20,313 |
| Commercial Bank | 301 North State Street Alma, MI 48801 | Full Service B&M | $67,912 |
| Commercial Bank | 322 South Jefferson Street Mason, MI 48854 | Full Service B&M | $60,706 |
| Commercial Bank | 629 West State Street Hastings, MI 49058 | Full Service B&M | $48,605 |
| Commercial Bank | 661 North Cedar Street Mason, MI 48854 | Full Service B&M | $7,482 |
For 2021, Commercial Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $19,382 |
| Net interest income | $17,246 |
| Total noninterest income | $2,290 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $214 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,076 |
| Pre-tax net operating income | $8,199 |
| Securities gains (or losses, -) | $7 |
| Income before extraordinary items | $6,705 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $6,705 |
| Minority interest net income | $0 |
| Net income | $6,705 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $6,699 |
Commercial Bank's gross interest income from loans was $19,382,000.
Commercial Bank's net interest income from loans was $17,246,000.
Commercial Bank's fee based income from loans was $214,000.
Commercial Bank's net income from loans was $6,705,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,136 |
| Provision for credit losses | $-500 |
| Total noninterest expense | $11,837 |
| Salaries and employee benefits | $7,185 |
| Premises and equipment expense | $1,354 |
| Additional noninterest expense | $3,298 |
| Applicable income taxes | $1,501 |
| Net charge-offs | $-106 |
| Cash dividends | $3,253 |
Commercial Bank's interest expense for loans was $2,136,000.
Commercial Bank's payroll and benefits expense were $7,185,000.
Commercial Bank's property, plant and equipment expenses $1,354,000.
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 | 1.0% |
| 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 | 9.0% |
| Credit card loans | 0.0% |
| Other individual loans | 9.0% |
| Auto loans | 0.0% |
| Other consumer loans | 17.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $517,512 |
| Deposits held in domestic offices | $517,512 |
| Deposits by Individuals, partnerships, and corporations | $436,688 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $80,576 |
| Deposits by Commercial banks and other depository institutions in U.S. | $248 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $15,109 |
| Demand deposits | $15,109 |
| Nontransaction accounts | $502,403 |
| Money market deposit accounts (MMDAs) | $304,901 |
| Other savings deposits (excluding MMDAs) | $112,518 |
| Total time deposits | $84,984 |
| Total time and savings deposits | $502,403 |
| Noninterest-bearing deposits | $126,345 |
| Interest-bearing deposits | $391,167 |
| Retail deposits | $460,736 |
| IRAs and Keogh plan accounts | $4,428 |
| Brokered deposits | $45,145 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $610,261 |
| Cash & Balances due from depository institutions | $53,471 |
| Interest-bearing balances | $47,339 |
| Total securities | $73,717 |
| Federal funds sold & reverse repurchase | $129 |
| Net loans and leases | $447,751 |
| Loan and leases loss allowance | $3,821 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $9,144 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $3,572 |
| All other assets | $22,477 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $610,261 |
| Total Liabilities | $554,192 |
| Total deposits | $517,512 |
| Interest-bearing deposits | $391,167 |
| Deposits held in domestic offices | $517,512 |
| % insured (estimated) | $73 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $34,400 |
| Subordinated debt | $0 |
| All other liabilities | $2,280 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $447,751 |
| Loan and leases loss allowance | $3,821 |
| Total loans and leases (domestic) | $451,572 |
| All real estate loans | $361,679 |
| Real estate loans in domestic offices | $361,679 |
| Construction and development loans | $14,231 |
| Residential 1-4 family construction | $3,378 |
| Other construction, all land development and other land | $10,853 |
| Loans secured by nonfarm nonresidential properties | $144,108 |
| Nonfarm nonresidential secured by owner-occupied properties | $67,597 |
| Commercial real estate & other non-farm, non-residential | $76,511 |
| Multifamily residential real estate | $21,904 |
| 1-4 family residential loans | $167,988 |
| Farmland loans | $13,448 |
| Loans held in foreign offices | $0 |
| Farm loans | $1,874 |
| Commercial and industrial loans | $76,881 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $7,649 |
| Credit card loans | $0 |
| Related Plans | $2,568 |
| Consumer Auto Loans | $3,283 |
| Other loans to individuals | $1,798 |
| All other loans & leases | $3,489 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $35 |
| 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 | $4,392 |
| Non 1-4 family restructured loans & leases | $2,722 |
| Total loans and leases (foreign) | $0 |
Commercial Bank had $447,751,000 of loans outstanding in 2021. $361,679,000 of loans were in real estate loans. $14,231,000 of loans were in development loans. $21,904,000 of loans were in multifamily mortgage loans. $167,988,000 of loans were in 1-4 family mortgage loans. $1,874,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,283,000 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 | 263 | $66,199 | $251,707 |
| Nonfarm, nonresidential loans - <$100k | 51 | $2,598 | $50,941 |
| Nonfarm, nonresidential loans - $100-250k | 71 | $9,660 | $136,056 |
| Nonfarm, nonresidential loans - $250k-1MM | 141 | $53,941 | $382,560 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,569 | $71,215 | $45,389 |
| Commercial & Industrial, US addressed loans - <$100k | 1,323 | $22,236 | $16,807 |
| Commercial & Industrial, US addressed loans - $100-250k | 153 | $18,453 | $120,608 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 93 | $30,526 | $328,237 |
| Farmland loans - <$1MM | 58 | $6,927 | $119,431 |
| Farmland loans - <$100k | 14 | $629 | $44,929 |
| Farmland loans - $100-250k | 25 | $2,814 | $112,560 |
| Farmland loans - $250k-1MM | 19 | $3,484 | $183,368 |
| Agriculture operations loans - <$1MM | 31 | $1,874 | $60,452 |
| Agriculture operations loans - <$100k | 19 | $375 | $19,737 |
| Agriculture operations loans - $100-250k | 8 | $395 | $49,375 |
| Agriculture operations loans - $250k-1MM | 4 | $1,104 | $276,000 |