Citizens Commerce Bank Mortgage Rates, Fees & Info

Versailles, KY

LEI: 549300GBQMFJ4GDIMC53

Tax ID: 61-1301436

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Citizens Commerce Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Citizens Commerce Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Frankfort, and Danville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens Commerce 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

    124

    Origination Dollar Volume (All Markets)

    $27,840,000

    Employee count

    63

    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
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 107 $22,765,000 $212,757 $0 0.00%
    Frankfort, KY (FHA|USDA|VA) 11 $3,815,000 $346,818 $0 0.00%
    Outside of Metro Areas 5 $1,185,000 $237,000 $0 0.00%
    Danville, KY (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Citizens Commerce Bank's top markets include Lexington, Frankfort, and Danville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 124 $27,840,000 $224,516 $0 0.00%

    For 2018, Citizens Commerce Bank's most frequently originated type of loan was Conventional, with 124 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 64 $14,250,000 $222,656 $0 0.00%
    Cash Out Refi 32 $5,950,000 $185,938 $0 0.00%
    Refi 25 $7,545,000 $301,800 $0 0.00%
    Other 3 $95,000 $31,667 $0 0.00%

    For 2018, Citizens Commerce Bank's most frequently cited loan purpose was Home Purchase, with 64 originations. The 2nd most popular reason was Cash Out Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 124 $27,840,000 $224,516 $0 0.00%

    For 2018, Citizens Commerce Bank's most frequently cited loan duration was Other, with 124 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 44 $2,800,000 $63,636 $0 0.00%
    $100k-200k 41 $5,635,000 $137,439 $0 0.00%
    $200k-400k 25 $6,825,000 $273,000 $0 0.00%
    $400k-600k 7 $3,125,000 $446,429 $0 0.00%
    $600k-1MM 4 $2,670,000 $667,500 $0 0.00%
    $1MM+ 3 $6,785,000 $2,261,667 $0 0.00%

    2018 saw Citizens Commerce Bank place emphasis on $100,000 or less loans with 44 originations, totaling $2,800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 20 $4,350,000 $217,500 $0 0.00%
    $75k-100k 19 $3,375,000 $177,632 $0 0.00%
    $50k or less 15 $1,345,000 $89,667 $0 0.00%
    $50k-75k 11 $1,465,000 $133,182 $0 0.00%
    $150k-250k 9 $2,975,000 $330,556 $0 0.00%
    $250k+ 7 $1,775,000 $253,571 $0 0.00%

    Citizens Commerce Bank lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $75k-100k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 124 $27,840,000 $224,516 $0 0.00%

    Citizens Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 79 $14,235,000 $180,190 $0 0.00%
    Not applicable 41 $12,415,000 $302,805 $0 0.00%
    Not provided 3 $955,000 $318,333 $0 0.00%
    Asian 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.27%

    Citizens Commerce Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.94%

    Citizens Commerce 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 124 $27,840,000 $224,516

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $9,200,000 $920,000
    Single Family (1-4 Units):Manufactured 2 $80,000 $40,000
    Single Family (1-4 Units):Site-Built 112 $18,560,000 $165,714

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 9 5.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 5 2.9%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Improper use of your report 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 16 9.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 36 21.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 8 4.7%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 9 5.3%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 7 4.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 41 24.0%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 1.2%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 3 1.8%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 4 2.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 15 8.8%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.6%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 1 0.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Citizens Commerce Bank 108 Sea Hero Road Frankfort, KY 40601 Full Service B&M $24,050
    Citizens Commerce Bank 231 South Main Street Versailles, KY 40383 Full Service B&M $19,330
    Citizens Commerce Bank 4097 Nichols Park Drive Lexington, KY 40503 Full Service B&M $250
    Citizens Commerce Bank 534 Marsailles Road Versailles, KY 40383 Full Service B&M $122,442
    Citizens Commerce Bank 714 South Main Street Nicholasville, KY 40356 Full Service B&M $34,225

    For 2018, Citizens Commerce Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,060
    Net interest income $8,568
    Total noninterest income $1,385
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $481
    Trading account gains and fees $0
    Additional Noninterest Income $904
    Pre-tax net operating income $2,343
    Securities gains (or losses, -) $-10
    Income before extraordinary items $1,866
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,866
    Minority interest net income $0
    Net income $1,866
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,874

    Citizens Commerce Bank's gross interest income from loans was $10,060,000.
    Citizens Commerce Bank's net interest income from loans was $8,568,000.
    Citizens Commerce Bank's fee based income from loans was $481,000.
    Citizens Commerce Bank's net income from loans was $1,866,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,492
    Provision for credit losses $0
    Total noninterest expense $7,610
    Salaries and employee benefits $4,083
    Premises and equipment expense $859
    Additional noninterest expense $2,668
    Applicable income taxes $467
    Net charge-offs $56
    Cash dividends $0

    Citizens Commerce Bank's interest expense for loans was $1,492,000.
    Citizens Commerce Bank's payroll and benefits expense were $4,083,000.
    Citizens Commerce Bank's property, plant and equipment expenses $859,000.

    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 $215,285
    Deposits held in domestic offices $215,285
    Deposits by Individuals, partnerships, and corporations $202,075
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $13,210
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $64,349
    Demand deposits $33,009
    Nontransaction accounts $150,936
    Money market deposit accounts (MMDAs) $32,008
    Other savings deposits (excluding MMDAs) $28,070
    Total time deposits $90,858
    Total time and savings deposits $182,276
    Noninterest-bearing deposits $33,009
    Interest-bearing deposits $182,276
    Retail deposits $193,565
    IRAs and Keogh plan accounts $7,918
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $247,108
    Cash & Balances due from depository institutions $18,833
    Interest-bearing balances $16,666
    Total securities $37,320
    Federal funds sold & reverse repurchase $0
    Net loans and leases $176,608
    Loan and leases loss allowance $1,982
    Trading account assets $0
    Bank premises and fixed assets $5,508
    Other real estate owned $500
    Goodwill and other intangibles $0
    All other assets $8,339

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $247,108
    Total Liabilities $221,831
    Total deposits $215,285
    Interest-bearing deposits $182,276
    Deposits held in domestic offices $215,285
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $5,706
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $840

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $176,608
    Loan and leases loss allowance $1,982
    Total loans and leases (domestic) $178,590
    All real estate loans $165,197
    Real estate loans in domestic offices $165,197
    Construction and development loans $4,457
    Residential 1-4 family construction $1,920
    Other construction, all land development and other land $2,537
    Loans secured by nonfarm nonresidential properties $51,330
    Nonfarm nonresidential secured by owner-occupied properties $20,930
    Commercial real estate & other non-farm, non-residential $30,400
    Multifamily residential real estate $11,642
    1-4 family residential loans $80,996
    Farmland loans $16,772
    Loans held in foreign offices $0
    Farm loans $59
    Commercial and industrial loans $9,686
    To non-U.S. addressees $0
    Loans to individuals $2,975
    Credit card loans $846
    Related Plans $70
    Consumer Auto Loans $383
    Other loans to individuals $1,676
    All other loans & leases $673
    Loans to foreign governments and official institutions $0
    Other loans $24
    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 $269
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Citizens Commerce Bank had $176,608,000 of loans outstanding in 2018. $165,197,000 of loans were in real estate loans. $4,457,000 of loans were in development loans. $11,642,000 of loans were in multifamily mortgage loans. $80,996,000 of loans were in 1-4 family mortgage loans. $59,000 of loans were in farm loans. $846,000 of loans were in credit card loans. $383,000 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 94 $20,913 $222,479
    Nonfarm, nonresidential loans - <$100k 15 $603 $40,200
    Nonfarm, nonresidential loans - $100-250k 31 $408 $13,161
    Nonfarm, nonresidential loans - $250k-1MM 48 $19,902 $414,625
    Commercial & Industrial, US addressed loans - <$1MM 99 $7,351 $74,253
    Commercial & Industrial, US addressed loans - <$100k 60 $982 $16,367
    Commercial & Industrial, US addressed loans - $100-250k 27 $3,167 $117,296
    Commercial & Industrial, US addressed loans - $250k-1MM 12 $3,202 $266,833
    Farmland loans - <$1MM 44 $7,111 $161,614
    Farmland loans - <$100k 12 $109 $9,083
    Farmland loans - $100-250k 15 $1,922 $128,133
    Farmland loans - $250k-1MM 17 $5,080 $298,824
    Agriculture operations loans - <$1MM 6 $59 $9,833
    Agriculture operations loans - <$100k 6 $59 $9,833