Central State Bank Mortgage Rates, Fees & Info
Calera, ALLEI: 549300H0IFPIJWI3KL08
Tax ID: 63-0039180
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Mortgage Data
Bank Data
Review & Overview
Central State Bank is a smaller bank specializing in Home Purchase and Refi loans. Central State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Talladega, Daphne, Crestview, and Quincy among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Central State 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.
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Originations
99Origination Dollar Volume (All Markets)
$16,165,000Employee count
72Top 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 |
|---|---|---|---|---|---|
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 85 | $13,445,000 | $158,176 | $0 | 0.00% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 4 | $590,000 | $147,500 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $565,000 | $565,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 0.00% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $235,000 | $235,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 2 | $80,000 | $40,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 99 | $16,165,000 | $163,283 | $0 | 0.00% |
For 2019, Central State Bank's most frequently originated type of loan was Conventional, with 99 originations.
Loan Reason
For 2019, Central State Bank's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 36 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 99 | $16,165,000 | $163,283 | $0 | 0.00% |
For 2019, Central State Bank's most frequently cited loan duration was Other, with 99 originations.
Loan Sizing
2019 saw Central State Bank place emphasis on $100,000 or less loans with 52 originations, totaling $2,770,000 in origination value.
Applicant Income
Central State Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $75k-100k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 99 | $16,165,000 | $163,283 | $0 | 0.00% |
Central State Bank lent most frequently to those with DTI ratios of Exempt%, with 99 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.77%
Central State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination78.79%
Central State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 99 | $16,165,000 | $163,283 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| CENTERSTATE BANK CORPORATION | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Central State Bank | 11025 Hwy 25 Calera, AL 35040 | Full Service B&M | $158,794 |
| Central State Bank | 3145 Highway 31 South Pelham, AL 35124 | Full Service B&M | $46,155 |
| Central State Bank | 57 County Road 87 Calera, AL 35040 | Full Service B&M | $37,166 |
| Central State Bank | 71 Limestone Parkway Calera, AL 35040 | Full Service B&M | $8,914 |
| Central State Bank | 9331 Highway 119 Alabaster, AL 35007 | Full Service B&M | $32,954 |
For 2019, Central State Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $15,179 |
| Net interest income | $12,435 |
| Total noninterest income | $3,607 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $762 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,845 |
| Pre-tax net operating income | $5,752 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $5,425 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,425 |
| Minority interest net income | $0 |
| Net income | $5,425 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,425 |
Central State Bank's gross interest income from loans was $15,179,000.
Central State Bank's net interest income from loans was $12,435,000.
Central State Bank's fee based income from loans was $762,000.
Central State Bank's net income from loans was $5,425,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,744 |
| Provision for credit losses | $881 |
| Total noninterest expense | $9,409 |
| Salaries and employee benefits | $5,053 |
| Premises and equipment expense | $838 |
| Additional noninterest expense | $3,518 |
| Applicable income taxes | $327 |
| Net charge-offs | $376 |
| Cash dividends | $2,477 |
Central State Bank's interest expense for loans was $2,744,000.
Central State Bank's payroll and benefits expense were $5,053,000.
Central State Bank's property, plant and equipment expenses $838,000.
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 | $289,615 |
| Deposits held in domestic offices | $289,615 |
| Deposits by Individuals, partnerships, and corporations | $215,381 |
| Deposits by U.S. Government | $310 |
| Deposits by States and political subdivisions in the U.S. | $73,924 |
| 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 | $132,480 |
| Demand deposits | $111,236 |
| Nontransaction accounts | $157,135 |
| Money market deposit accounts (MMDAs) | $32,063 |
| Other savings deposits (excluding MMDAs) | $23,070 |
| Total time deposits | $102,003 |
| Total time and savings deposits | $178,379 |
| Noninterest-bearing deposits | $70,231 |
| Interest-bearing deposits | $219,384 |
| Retail deposits | $246,778 |
| IRAs and Keogh plan accounts | $12,244 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $330,753 |
| Cash & Balances due from depository institutions | $22,273 |
| Interest-bearing balances | $16,878 |
| Total securities | $48,853 |
| Federal funds sold & reverse repurchase | $34,927 |
| Net loans and leases | $210,691 |
| Loan and leases loss allowance | $3,498 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,489 |
| Other real estate owned | $77 |
| Goodwill and other intangibles | $0 |
| All other assets | $9,443 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $330,753 |
| Total Liabilities | $293,594 |
| Total deposits | $289,615 |
| Interest-bearing deposits | $219,384 |
| Deposits held in domestic offices | $289,615 |
| % insured (estimated) | $65 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $3,979 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $210,691 |
| Loan and leases loss allowance | $3,498 |
| Total loans and leases (domestic) | $214,189 |
| All real estate loans | $185,704 |
| Real estate loans in domestic offices | $185,704 |
| Construction and development loans | $37,027 |
| Residential 1-4 family construction | $11,658 |
| Other construction, all land development and other land | $25,369 |
| Loans secured by nonfarm nonresidential properties | $74,146 |
| Nonfarm nonresidential secured by owner-occupied properties | $43,137 |
| Commercial real estate & other non-farm, non-residential | $31,009 |
| Multifamily residential real estate | $3,042 |
| 1-4 family residential loans | $69,848 |
| Farmland loans | $1,641 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $20,470 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $7,128 |
| Credit card loans | $0 |
| Related Plans | $127 |
| Consumer Auto Loans | $4,674 |
| Other loans to individuals | $2,327 |
| All other loans & leases | $887 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $94 |
| 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 | $250 |
| Non 1-4 family restructured loans & leases | $3 |
| Total loans and leases (foreign) | $0 |
Central State Bank had $210,691,000 of loans outstanding in 2019. $185,704,000 of loans were in real estate loans. $37,027,000 of loans were in development loans. $3,042,000 of loans were in multifamily mortgage loans. $69,848,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,674,000 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 | 253 | $51,414 | $203,217 |
| Nonfarm, nonresidential loans - <$100k | 59 | $2,579 | $43,712 |
| Nonfarm, nonresidential loans - $100-250k | 101 | $12,892 | $127,644 |
| Nonfarm, nonresidential loans - $250k-1MM | 93 | $35,943 | $386,484 |
| Commercial & Industrial, US addressed loans - <$1MM | 524 | $19,155 | $36,555 |
| Commercial & Industrial, US addressed loans - <$100k | 457 | $9,109 | $19,932 |
| Commercial & Industrial, US addressed loans - $100-250k | 45 | $4,084 | $90,756 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 22 | $5,962 | $271,000 |
| Farmland loans - <$1MM | 15 | $1,641 | $109,400 |
| Farmland loans - <$100k | 6 | $203 | $33,833 |
| Farmland loans - $100-250k | 5 | $403 | $80,600 |
| Farmland loans - $250k-1MM | 4 | $1,035 | $258,750 |