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 and Cash Out Refi loans. Citizens Commerce Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Frankfort, Louisville, and Daphne among others. We have data for 5 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

    126

    Origination Dollar Volume (All Markets)

    $32,100,000

    Employee count

    67

    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) 90 $23,850,000 $265,000 $0 0.00%
    Frankfort, KY (FHA|USDA|VA) 28 $5,320,000 $190,000 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $1,250,000 $625,000 $0 0.00%
    Outside of Metro Areas 5 $1,045,000 $209,000 $0 0.00%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $635,000 $635,000 $0 0.00%
    Citizens Commerce Bank's top markets include Lexington, Frankfort, Louisville, and Daphne among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 126 $32,100,000 $254,762 $0 0.00%

    For 2020, Citizens Commerce Bank's most frequently originated type of loan was Conventional, with 126 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 65 $15,075,000 $231,923 $0 0.00%
    Cash Out Refi 46 $14,480,000 $314,783 $0 0.00%
    Refi 11 $2,035,000 $185,000 $0 0.00%
    Home Improvement 3 $185,000 $61,667 $0 0.00%
    Other 1 $325,000 $325,000 $0 0.00%

    For 2020, Citizens Commerce Bank's most frequently cited loan purpose was Home Purchase, with 65 originations. The 2nd most popular reason was Cash Out Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 126 $32,100,000 $254,762 $0 0.00%

    For 2020, Citizens Commerce Bank's most frequently cited loan duration was Other, with 126 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 49 $6,615,000 $135,000 $0 0.00%
    $200k-400k 30 $8,560,000 $285,333 $0 0.00%
    $100,000 or less 27 $1,935,000 $71,667 $0 0.00%
    $400k-600k 10 $4,520,000 $452,000 $0 0.00%
    $1MM+ 5 $6,885,000 $1,377,000 $0 0.00%
    $600k-1MM 5 $3,585,000 $717,000 $0 0.00%

    2020 saw Citizens Commerce Bank place emphasis on $100k-200k loans with 49 originations, totaling $6,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $4,420,000 $276,250 $0 0.00%
    $50k-75k 16 $2,210,000 $138,125 $0 0.00%
    $75k-100k 12 $2,140,000 $178,333 $0 0.00%
    $150k-250k 10 $1,890,000 $189,000 $0 0.00%
    $50k or less 8 $910,000 $113,750 $0 0.00%
    $250k+ 7 $3,725,000 $532,143 $0 0.00%

    Citizens Commerce Bank lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $50k-75k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 126 $32,100,000 $254,762 $0 0.00%

    Citizens Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 126 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 55 $16,515,000 $300,273 $0 0.00%
    White 64 $13,550,000 $211,719 $0 0.00%
    Not provided 2 $1,030,000 $515,000 $0 0.00%
    Black 3 $595,000 $198,333 $0 0.00%
    Asian 2 $410,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.13%

    Citizens Commerce Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    42.06%

    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 126 $32,100,000 $254,762

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 18 $12,020,000 $667,778
    Single Family (1-4 Units):Manufactured 2 $240,000 $120,000
    Single Family (1-4 Units):Site-Built 106 $19,840,000 $187,170

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 35 12.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 13 4.7%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Credit monitoring or identity theft protection services 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 5 1.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 0.4%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 26 9.5%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 109 39.8%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 8 2.9%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 6 2.2%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 20 7.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 7 2.6%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 4 1.5%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 2 0.7%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 11 4.0%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 3 1.1%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 4 1.5%

    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 $27,273
    Citizens Commerce Bank 231 South Main Street Versailles, KY 40383 Full Service B&M $23,679
    Citizens Commerce Bank 4097 Nichols Park Drive, Suite 100-200 Lexington, KY 40503 Full Service B&M $5,230
    Citizens Commerce Bank 534 Marsailles Road Versailles, KY 40383 Full Service B&M $158,662
    Citizens Commerce Bank 714 South Main Street Nicholasville, KY 40356 Full Service B&M $35,649

    For 2020, Citizens Commerce Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,414
    Net interest income $9,823
    Total noninterest income $1,971
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $380
    Trading account gains and fees $0
    Additional Noninterest Income $1,591
    Pre-tax net operating income $3,247
    Securities gains (or losses, -) $22
    Income before extraordinary items $2,603
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,603
    Minority interest net income $0
    Net income $2,603
    Sale, conversion, retirement of capital stock, net $101
    Net operating income $2,585

    Citizens Commerce Bank's gross interest income from loans was $11,414,000.
    Citizens Commerce Bank's net interest income from loans was $9,823,000.
    Citizens Commerce Bank's fee based income from loans was $380,000.
    Citizens Commerce Bank's net income from loans was $2,603,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,591
    Provision for credit losses $535
    Total noninterest expense $8,012
    Salaries and employee benefits $4,370
    Premises and equipment expense $1,006
    Additional noninterest expense $2,636
    Applicable income taxes $666
    Net charge-offs $-94
    Cash dividends $1,145

    Citizens Commerce Bank's interest expense for loans was $1,591,000.
    Citizens Commerce Bank's payroll and benefits expense were $4,370,000.
    Citizens Commerce Bank's property, plant and equipment expenses $1,006,000.

    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 $265,425
    Deposits held in domestic offices $265,425
    Deposits by Individuals, partnerships, and corporations $247,848
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $17,577
    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 $100,372
    Demand deposits $48,662
    Nontransaction accounts $165,053
    Money market deposit accounts (MMDAs) $32,169
    Other savings deposits (excluding MMDAs) $44,089
    Total time deposits $88,795
    Total time and savings deposits $216,763
    Noninterest-bearing deposits $48,662
    Interest-bearing deposits $216,763
    Retail deposits $239,832
    IRAs and Keogh plan accounts $7,925
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $299,123
    Cash & Balances due from depository institutions $32,090
    Interest-bearing balances $29,400
    Total securities $39,035
    Federal funds sold & reverse repurchase $0
    Net loans and leases $214,505
    Loan and leases loss allowance $2,611
    Trading account assets $0
    Bank premises and fixed assets $5,481
    Other real estate owned $465
    Goodwill and other intangibles $0
    All other assets $7,547

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $299,123
    Total Liabilities $269,096
    Total deposits $265,425
    Interest-bearing deposits $216,763
    Deposits held in domestic offices $265,425
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $2,815
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $856

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $214,505
    Loan and leases loss allowance $2,611
    Total loans and leases (domestic) $217,116
    All real estate loans $195,948
    Real estate loans in domestic offices $195,948
    Construction and development loans $8,236
    Residential 1-4 family construction $6,134
    Other construction, all land development and other land $2,102
    Loans secured by nonfarm nonresidential properties $58,664
    Nonfarm nonresidential secured by owner-occupied properties $20,086
    Commercial real estate & other non-farm, non-residential $38,578
    Multifamily residential real estate $15,035
    1-4 family residential loans $93,703
    Farmland loans $20,310
    Loans held in foreign offices $0
    Farm loans $67
    Commercial and industrial loans $18,517
    To non-U.S. addressees $0
    Loans to individuals $2,112
    Credit card loans $0
    Related Plans $35
    Consumer Auto Loans $598
    Other loans to individuals $1,479
    All other loans & leases $472
    Loans to foreign governments and official institutions $0
    Other loans $22
    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 $172
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Citizens Commerce Bank had $214,505,000 of loans outstanding in 2020. $195,948,000 of loans were in real estate loans. $8,236,000 of loans were in development loans. $15,035,000 of loans were in multifamily mortgage loans. $93,703,000 of loans were in 1-4 family mortgage loans. $67,000 of loans were in farm loans. $0 of loans were in credit card loans. $598,000 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 110 $28,779 $261,627
    Nonfarm, nonresidential loans - <$100k 19 $899 $47,316
    Nonfarm, nonresidential loans - $100-250k 37 $5,188 $140,216
    Nonfarm, nonresidential loans - $250k-1MM 54 $22,692 $420,222
    Commercial & Industrial, US addressed loans - <$1MM 103 $9,004 $87,417
    Commercial & Industrial, US addressed loans - <$100k 62 $1,330 $21,452
    Commercial & Industrial, US addressed loans - $100-250k 21 $2,277 $108,429
    Commercial & Industrial, US addressed loans - $250k-1MM 20 $5,397 $269,850
    Farmland loans - <$1MM 52 $7,003 $134,673
    Farmland loans - <$100k 15 $276 $18,400
    Farmland loans - $100-250k 24 $2,993 $124,708
    Farmland loans - $250k-1MM 13 $3,734 $287,231
    Agriculture operations loans - <$1MM 6 $59 $9,833
    Agriculture operations loans - <$100k 6 $59 $9,833