Citizens Commerce Bank Mortgage Rates, Fees & Info

Versailles, KY

LEI: 549300GBQMFJ4GDIMC53

Tax ID: 61-1301436

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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, North Port, Richmond, and Louisville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Citizens Commerce 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    138

    Origination Dollar Volume (All Markets)

    $38,880,000

    Employee count

    69

    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) 100 $25,570,000 $255,700 $0 0.00%
    Frankfort, KY (FHA|USDA|VA) 17 $7,345,000 $432,059 $0 0.00%
    Outside of Metro Areas 9 $1,965,000 $218,333 $0 0.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 0.00%
    Richmond-Berea, KY (FHA|USDA|VA) 3 $705,000 $235,000 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $660,000 $330,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $575,000 $575,000 $0 0.00%
    Somerset, KY (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Danville, KY (FHA|USDA|VA) 2 $120,000 $60,000 $0 0.00%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Citizens Commerce Bank's top markets include Lexington, Frankfort, North Port, Richmond, and Louisville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 138 $38,880,000 $281,739 $0 0.00%

    For 2021, Citizens Commerce Bank's most frequently originated type of loan was Conventional, with 138 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 78 $25,060,000 $321,282 $0 0.00%
    Cash Out Refi 36 $9,100,000 $252,778 $0 0.00%
    Refi 20 $4,220,000 $211,000 $0 0.00%
    Home Improvement 4 $500,000 $125,000 $0 0.00%

    For 2021, Citizens Commerce Bank's most frequently cited loan purpose was Home Purchase, with 78 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 138 $38,880,000 $281,739 $0 0.00%

    For 2021, Citizens Commerce Bank's most frequently cited loan duration was Other, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 48 $6,890,000 $143,542 $0 0.00%
    $100,000 or less 38 $2,590,000 $68,158 $0 0.00%
    $200k-400k 24 $6,810,000 $283,750 $0 0.00%
    $400k-600k 12 $5,750,000 $479,167 $0 0.00%
    $1MM+ 8 $11,160,000 $1,395,000 $0 0.00%
    $600k-1MM 8 $5,680,000 $710,000 $0 0.00%

    2021 saw Citizens Commerce Bank place emphasis on $100k-200k loans with 48 originations, totaling $6,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 18 $1,630,000 $90,556 $0 0.00%
    $100k-150k 14 $2,790,000 $199,286 $0 0.00%
    $250k+ 13 $8,545,000 $657,308 $0 0.00%
    $50k or less 12 $1,650,000 $137,500 $0 0.00%
    $150k-250k 11 $3,215,000 $292,273 $0 0.00%
    $75k-100k 8 $2,060,000 $257,500 $0 0.00%

    Citizens Commerce Bank lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $100k-150k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 138 $38,880,000 $281,739 $0 0.00%

    Citizens Commerce Bank lent most frequently to those with DTI ratios of Exempt%, with 138 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 61 $18,885,000 $309,590 $0 0.00%
    White 62 $16,210,000 $261,452 $0 0.00%
    Not provided 11 $2,955,000 $268,636 $0 0.00%
    Asian 3 $575,000 $191,667 $0 0.00%
    Black 1 $255,000 $255,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.65%

    Citizens Commerce Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    55.80%

    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 138 $38,880,000 $281,739

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    138 $38,880,000 $281,739

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 54 15.6%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Closing on a mortgage 22 6.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Improper use of your report 1 0.3%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Incorrect information on your report 6 1.7%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 3 0.9%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Struggling to pay mortgage 27 7.8%
    CITIZENS FINANCIAL GROUP, INC. Conventional home mortgage Trouble during payment process 116 33.4%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 7 2.0%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Closing on a mortgage 4 1.2%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Struggling to pay mortgage 15 4.3%
    CITIZENS FINANCIAL GROUP, INC. FHA mortgage Trouble during payment process 19 5.5%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 7 2.0%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 4 1.2%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Incorrect information on your report 2 0.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 2 0.6%
    CITIZENS FINANCIAL GROUP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 27 7.8%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 5 1.4%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Closing on a mortgage 3 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Improper use of your report 1 0.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Incorrect information on your report 1 0.3%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Struggling to pay mortgage 3 0.9%
    CITIZENS FINANCIAL GROUP, INC. Other type of mortgage Trouble during payment process 13 3.7%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Struggling to pay mortgage 2 0.6%
    CITIZENS FINANCIAL GROUP, INC. VA mortgage Trouble during payment process 3 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 $24,664
    Citizens Commerce Bank 231 South Main Street Versailles, KY 40383 Full Service B&M $25,882
    Citizens Commerce Bank 4097 Nichols Park Drive, Suite 100-200 Lexington, KY 40503 Full Service B&M $8,555
    Citizens Commerce Bank 534 Marsailles Road Versailles, KY 40383 Full Service B&M $173,009
    Citizens Commerce Bank 714 South Main Street Nicholasville, KY 40356 Full Service B&M $37,379

    For 2021, Citizens Commerce Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,426
    Net interest income $12,566
    Total noninterest income $2,086
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $414
    Trading account gains and fees $0
    Additional Noninterest Income $1,672
    Pre-tax net operating income $6,104
    Securities gains (or losses, -) $50
    Income before extraordinary items $4,568
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,568
    Minority interest net income $0
    Net income $4,568
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,528

    Citizens Commerce Bank's gross interest income from loans was $13,426,000.
    Citizens Commerce Bank's net interest income from loans was $12,566,000.
    Citizens Commerce Bank's fee based income from loans was $414,000.
    Citizens Commerce Bank's net income from loans was $4,568,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $860
    Provision for credit losses $180
    Total noninterest expense $8,368
    Salaries and employee benefits $4,562
    Premises and equipment expense $1,070
    Additional noninterest expense $2,736
    Applicable income taxes $1,586
    Net charge-offs $-74
    Cash dividends $605

    Citizens Commerce Bank's interest expense for loans was $860,000.
    Citizens Commerce Bank's payroll and benefits expense were $4,562,000.
    Citizens Commerce Bank's property, plant and equipment expenses $1,070,000.

    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 $275,902
    Deposits held in domestic offices $275,902
    Deposits by Individuals, partnerships, and corporations $257,591
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $18,311
    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 $113,550
    Demand deposits $55,492
    Nontransaction accounts $162,352
    Money market deposit accounts (MMDAs) $38,078
    Other savings deposits (excluding MMDAs) $51,838
    Total time deposits $72,437
    Total time and savings deposits $220,410
    Noninterest-bearing deposits $55,492
    Interest-bearing deposits $220,410
    Retail deposits $254,464
    IRAs and Keogh plan accounts $6,905
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $313,856
    Cash & Balances due from depository institutions $20,700
    Interest-bearing balances $18,919
    Total securities $46,652
    Federal funds sold & reverse repurchase $0
    Net loans and leases $233,940
    Loan and leases loss allowance $2,865
    Trading account assets $0
    Bank premises and fixed assets $5,297
    Other real estate owned $512
    Goodwill and other intangibles $0
    All other assets $6,755

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $313,856
    Total Liabilities $280,925
    Total deposits $275,902
    Interest-bearing deposits $220,410
    Deposits held in domestic offices $275,902
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $4,024
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $999

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $233,940
    Loan and leases loss allowance $2,865
    Total loans and leases (domestic) $236,805
    All real estate loans $218,312
    Real estate loans in domestic offices $218,312
    Construction and development loans $8,035
    Residential 1-4 family construction $6,619
    Other construction, all land development and other land $1,416
    Loans secured by nonfarm nonresidential properties $66,534
    Nonfarm nonresidential secured by owner-occupied properties $28,311
    Commercial real estate & other non-farm, non-residential $38,223
    Multifamily residential real estate $18,001
    1-4 family residential loans $103,125
    Farmland loans $22,617
    Loans held in foreign offices $0
    Farm loans $69
    Commercial and industrial loans $16,102
    To non-U.S. addressees $0
    Loans to individuals $2,006
    Credit card loans $0
    Related Plans $29
    Consumer Auto Loans $584
    Other loans to individuals $1,393
    All other loans & leases $316
    Loans to foreign governments and official institutions $0
    Other loans $40
    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 $138
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Citizens Commerce Bank had $233,940,000 of loans outstanding in 2021. $218,312,000 of loans were in real estate loans. $8,035,000 of loans were in development loans. $18,001,000 of loans were in multifamily mortgage loans. $103,125,000 of loans were in 1-4 family mortgage loans. $69,000 of loans were in farm loans. $0 of loans were in credit card loans. $584,000 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 122 $32,471 $266,156
    Nonfarm, nonresidential loans - <$100k 19 $1,047 $55,105
    Nonfarm, nonresidential loans - $100-250k 41 $5,233 $127,634
    Nonfarm, nonresidential loans - $250k-1MM 62 $26,191 $422,435
    Commercial & Industrial, US addressed loans - <$1MM 101 $9,589 $94,941
    Commercial & Industrial, US addressed loans - <$100k 60 $1,424 $23,733
    Commercial & Industrial, US addressed loans - $100-250k 21 $2,163 $103,000
    Commercial & Industrial, US addressed loans - $250k-1MM 20 $6,002 $300,100
    Farmland loans - <$1MM 51 $7,533 $147,706
    Farmland loans - <$100k 14 $255 $18,214
    Farmland loans - $100-250k 23 $2,914 $126,696
    Farmland loans - $250k-1MM 14 $4,364 $311,714
    Agriculture operations loans - <$1MM 7 $61 $8,714
    Agriculture operations loans - <$100k 7 $61 $8,714