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 Cash Out Refi and Home Purchase loans. Citizens Commerce Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Frankfort, Richmond, Cincinnati, and Somerset among others. We have data for 7 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

    108

    Origination Dollar Volume (All Markets)

    $24,140,000

    Employee count

    64

    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) 86 $18,920,000 $220,000 $0 0.00%
    Frankfort, KY (FHA|USDA|VA) 16 $3,940,000 $246,250 $0 0.00%
    Richmond-Berea, KY (FHA|USDA|VA) 2 $750,000 $375,000 $0 0.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Somerset, KY (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Danville, KY (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Outside of Metro Areas 1 $75,000 $75,000 $0 0.00%
    Citizens Commerce Bank's top markets include Lexington, Frankfort, Richmond, Cincinnati, and Somerset among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 108 $24,140,000 $223,519 $0 0.00%

    For 2019, Citizens Commerce Bank's most frequently originated type of loan was Conventional, with 108 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 41 $13,285,000 $324,024 $0 0.00%
    Home Purchase 39 $6,925,000 $177,564 $0 0.00%
    Refi 21 $3,635,000 $173,095 $0 0.00%
    Other 4 $100,000 $25,000 $0 0.00%
    Home Improvement 3 $195,000 $65,000 $0 0.00%

    For 2019, Citizens Commerce Bank's most frequently cited loan purpose was Cash Out Refi, with 41 originations. The 2nd most popular reason was Home Purchase, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 108 $24,140,000 $223,519 $0 0.00%

    For 2019, Citizens Commerce Bank's most frequently cited loan duration was Other, with 108 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 44 $5,980,000 $135,909 $0 0.00%
    $100,000 or less 38 $2,420,000 $63,684 $0 0.00%
    $200k-400k 13 $3,275,000 $251,923 $0 0.00%
    $600k-1MM 7 $4,795,000 $685,000 $0 0.00%
    $400k-600k 4 $1,910,000 $477,500 $0 0.00%
    $1MM+ 2 $5,760,000 $2,880,000 $0 0.00%

    2019 saw Citizens Commerce Bank place emphasis on $100k-200k loans with 44 originations, totaling $5,980,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $2,485,000 $191,154 $0 0.00%
    $50k-75k 11 $1,025,000 $93,182 $0 0.00%
    $150k-250k 8 $1,530,000 $191,250 $0 0.00%
    $50k or less 4 $320,000 $80,000 $0 0.00%
    $250k+ 3 $475,000 $158,333 $0 0.00%
    $75k-100k 3 $385,000 $128,333 $0 0.00%

    Citizens Commerce Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 108 $24,140,000 $223,519 $0 0.00%

    Citizens Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 65 $17,735,000 $272,846 $0 0.00%
    White 40 $6,030,000 $150,750 $0 0.00%
    Black 1 $205,000 $205,000 $0 0.00%
    Not provided 1 $115,000 $115,000 $0 0.00%
    Asian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.53%

    Citizens Commerce Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    54.63%

    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 108 $24,140,000 $223,519

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $10,350,000 $862,500
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 95 $13,735,000 $144,579

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 4.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 6 2.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 20 8.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 81 34.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Incorrect information on your report 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 13 5.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 11 4.7%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 9 3.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 8 3.4%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 52 22.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 3 1.3%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 2 0.9%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 2 0.9%

    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 $26,086
    Citizens Commerce Bank 231 South Main Street Versailles, KY 40383 Full Service B&M $21,143
    Citizens Commerce Bank 4097 Nichols Park Drive, Suite 100-200 Lexington, KY 40503 Full Service B&M $5,092
    Citizens Commerce Bank 534 Marsailles Road Versailles, KY 40383 Full Service B&M $138,297
    Citizens Commerce Bank 714 South Main Street Nicholasville, KY 40356 Full Service B&M $31,939

    For 2019, Citizens Commerce Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,613
    Net interest income $8,202
    Total noninterest income $1,640
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $529
    Trading account gains and fees $0
    Additional Noninterest Income $1,111
    Pre-tax net operating income $2,194
    Securities gains (or losses, -) $31
    Income before extraordinary items $1,781
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,781
    Minority interest net income $0
    Net income $1,781
    Sale, conversion, retirement of capital stock, net $68
    Net operating income $1,756

    Citizens Commerce Bank's gross interest income from loans was $10,613,000.
    Citizens Commerce Bank's net interest income from loans was $8,202,000.
    Citizens Commerce Bank's fee based income from loans was $529,000.
    Citizens Commerce Bank's net income from loans was $1,781,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,411
    Provision for credit losses $0
    Total noninterest expense $7,648
    Salaries and employee benefits $4,115
    Premises and equipment expense $979
    Additional noninterest expense $2,554
    Applicable income taxes $444
    Net charge-offs $-2
    Cash dividends $0

    Citizens Commerce Bank's interest expense for loans was $2,411,000.
    Citizens Commerce Bank's payroll and benefits expense were $4,115,000.
    Citizens Commerce Bank's property, plant and equipment expenses $979,000.

    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 $232,119
    Deposits held in domestic offices $232,119
    Deposits by Individuals, partnerships, and corporations $216,786
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $15,333
    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 $69,900
    Demand deposits $34,792
    Nontransaction accounts $162,219
    Money market deposit accounts (MMDAs) $27,296
    Other savings deposits (excluding MMDAs) $40,803
    Total time deposits $94,120
    Total time and savings deposits $197,327
    Noninterest-bearing deposits $34,792
    Interest-bearing deposits $197,326
    Retail deposits $204,780
    IRAs and Keogh plan accounts $7,546
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $265,675
    Cash & Balances due from depository institutions $16,807
    Interest-bearing balances $14,173
    Total securities $42,298
    Federal funds sold & reverse repurchase $0
    Net loans and leases $192,619
    Loan and leases loss allowance $1,983
    Trading account assets $0
    Bank premises and fixed assets $5,496
    Other real estate owned $500
    Goodwill and other intangibles $0
    All other assets $7,955

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $265,675
    Total Liabilities $238,085
    Total deposits $232,119
    Interest-bearing deposits $197,326
    Deposits held in domestic offices $232,119
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $5,173
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $793

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $192,619
    Loan and leases loss allowance $1,983
    Total loans and leases (domestic) $194,602
    All real estate loans $179,757
    Real estate loans in domestic offices $179,757
    Construction and development loans $8,243
    Residential 1-4 family construction $6,216
    Other construction, all land development and other land $2,027
    Loans secured by nonfarm nonresidential properties $54,164
    Nonfarm nonresidential secured by owner-occupied properties $20,720
    Commercial real estate & other non-farm, non-residential $33,444
    Multifamily residential real estate $15,161
    1-4 family residential loans $82,212
    Farmland loans $19,977
    Loans held in foreign offices $0
    Farm loans $123
    Commercial and industrial loans $11,715
    To non-U.S. addressees $0
    Loans to individuals $2,472
    Credit card loans $0
    Related Plans $68
    Consumer Auto Loans $615
    Other loans to individuals $1,789
    All other loans & leases $535
    Loans to foreign governments and official institutions $0
    Other loans $18
    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 $218
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Citizens Commerce Bank had $192,619,000 of loans outstanding in 2019. $179,757,000 of loans were in real estate loans. $8,243,000 of loans were in development loans. $15,161,000 of loans were in multifamily mortgage loans. $82,212,000 of loans were in 1-4 family mortgage loans. $123,000 of loans were in farm loans. $0 of loans were in credit card loans. $615,000 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 107 $27,010 $252,430
    Nonfarm, nonresidential loans - <$100k 21 $971 $46,238
    Nonfarm, nonresidential loans - $100-250k 35 $4,509 $128,829
    Nonfarm, nonresidential loans - $250k-1MM 51 $21,530 $422,157
    Commercial & Industrial, US addressed loans - <$1MM 104 $7,906 $76,019
    Commercial & Industrial, US addressed loans - <$100k 64 $1,442 $22,531
    Commercial & Industrial, US addressed loans - $100-250k 24 $2,837 $118,208
    Commercial & Industrial, US addressed loans - $250k-1MM 16 $3,627 $226,688
    Farmland loans - <$1MM 45 $6,613 $146,956
    Farmland loans - <$100k 13 $239 $18,385
    Farmland loans - $100-250k 16 $1,780 $111,250
    Farmland loans - $250k-1MM 16 $4,594 $287,125
    Agriculture operations loans - <$1MM 7 $114 $16,286
    Agriculture operations loans - <$100k 7 $114 $16,286