Centric Bank Mortgage Rates, Fees & Info

Harrisburg, PA

LEI: 549300INPBRHB0MQ7S63

Tax ID: 23-0510610

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Mortgage Data

Bank Data

Review & Overview

Centric Bank is a smaller bank specializing in Home Purchase and Refi loans. Centric Bank has a high proportion of conventional loans. Their top markets by origination volume include: Harrisburg, Lancaster, Philadelphia, York, and Lebanon among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Centric 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.

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Originations

140

Origination Dollar Volume (All Markets)

$54,610,000

Employee count

108

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
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 97 $23,655,000 $243,866 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 5 $20,615,000 $4,123,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 10 $2,830,000 $283,000 $0 0.00%
YORK-HANOVER, PA (FHA|USDA|VA) 7 $2,025,000 $289,286 $0 0.00%
LEBANON, PA (FHA|USDA|VA) 7 $1,705,000 $243,571 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 3 $1,045,000 $348,333 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $710,000 $355,000 $0 0.00%
GETTYSBURG, PA (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
Outside of Metro Areas 1 $315,000 $315,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
READING, PA (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
TUSCALOOSA, AL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Centric Bank's top markets include Harrisburg, Lancaster, Philadelphia, York, and Lebanon among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 140 $54,610,000 $390,071 $0 0.00%

    For 2018, Centric Bank's most frequently originated type of loan was Conventional, with 140 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 68 $34,340,000 $505,000 $0 0.00%
    Refi 50 $16,430,000 $328,600 $0 0.00%
    Other 11 $605,000 $55,000 $0 0.00%
    Cash Out Refi 6 $2,070,000 $345,000 $0 0.00%
    Home Improvement 5 $1,165,000 $233,000 $0 0.00%

    For 2018, Centric Bank's most frequently cited loan purpose was Home Purchase, with 68 originations. The 2nd most popular reason was Refi, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 140 $54,610,000 $390,071 $0 0.00%

    For 2018, Centric Bank's most frequently cited loan duration was Other, with 140 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 43 $11,745,000 $273,140 $0 0.00%
    $100k-200k 42 $6,140,000 $146,190 $0 0.00%
    $100,000 or less 29 $1,595,000 $55,000 $0 0.00%
    $400k-600k 19 $8,975,000 $472,368 $0 0.00%
    $1MM+ 5 $24,525,000 $4,905,000 $0 0.00%
    $600k-1MM 2 $1,630,000 $815,000 $0 0.00%

    2018 saw Centric Bank place emphasis on $200k-400k loans with 43 originations, totaling $11,745,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 22 $7,770,000 $353,182 $0 0.00%
    $100k-150k 21 $4,575,000 $217,857 $0 0.00%
    $50k-75k 21 $3,155,000 $150,238 $0 0.00%
    $150k-250k 20 $5,790,000 $289,500 $0 0.00%
    $75k-100k 16 $2,470,000 $154,375 $0 0.00%
    $50k or less 12 $1,450,000 $120,833 $0 0.00%

    Centric Bank lent most frequently to those with incomes in the $250k+ range, with 22 originations. The second most popular income band? $100k-150k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 140 $54,610,000 $390,071 $0 0.00%

    Centric Bank lent most frequently to those with DTI ratios of Exempt%, with 140 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 26 $29,150,000 $1,121,154 $0 0.00%
    White 111 $24,635,000 $221,937 $0 0.00%
    Asian 1 $425,000 $425,000 $0 0.00%
    Black 2 $400,000 $200,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.57%

    Centric Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.43%

    Centric Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 140 $54,610,000 $390,071

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $25,805,000 $2,867,222
    Single Family (1-4 Units):Site-Built 131 $28,805,000 $219,885

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CENTRAL BANC MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Centric Bank 1201 West Governor Road Hummelstown, PA 17036 Full Service B&M $103,042
    Centric Bank 1625 Market Street Camp Hill, PA 17011 Full Service B&M $112,051
    Centric Bank 2003 South Easton Road Doylestown, PA 18901 Limited, Administrative $0
    Centric Bank 350 Highland Drive Mountville, PA 17554 Limited, Administrative $0
    Centric Bank 4320 Linglestown Rd Harrisburg, PA 17112 Full Service B&M $254,035
    Centric Bank 6480 Carlisle Pike Mechanicsburg, PA 17050 Full Service B&M $87,591

    For 2018, Centric Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,565
    Net interest income $25,949
    Total noninterest income $4,294
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $305
    Trading account gains and fees $0
    Additional Noninterest Income $3,989
    Pre-tax net operating income $10,820
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,811
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,811
    Minority interest net income $0
    Net income $8,811
    Sale, conversion, retirement of capital stock, net $91
    Net operating income $8,811

    Centric Bank's gross interest income from loans was $32,565,000.
    Centric Bank's net interest income from loans was $25,949,000.
    Centric Bank's fee based income from loans was $305,000.
    Centric Bank's net income from loans was $8,811,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,616
    Provision for credit losses $1,430
    Total noninterest expense $17,993
    Salaries and employee benefits $10,341
    Premises and equipment expense $1,956
    Additional noninterest expense $5,696
    Applicable income taxes $2,009
    Net charge-offs $405
    Cash dividends $0

    Centric Bank's interest expense for loans was $6,616,000.
    Centric Bank's payroll and benefits expense were $10,341,000.
    Centric Bank's property, plant and equipment expenses $1,956,000.

    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 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 4.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $587,989
    Deposits held in domestic offices $587,989
    Deposits by Individuals, partnerships, and corporations $492,087
    Deposits by U.S. Government $1,239
    Deposits by States and political subdivisions in the U.S. $88,931
    Deposits by Commercial banks and other depository institutions in U.S. $5,732
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $51,430
    Demand deposits $18,787
    Nontransaction accounts $536,559
    Money market deposit accounts (MMDAs) $99,965
    Other savings deposits (excluding MMDAs) $172,079
    Total time deposits $264,515
    Total time and savings deposits $569,202
    Noninterest-bearing deposits $18,787
    Interest-bearing deposits $569,202
    Retail deposits $441,401
    IRAs and Keogh plan accounts $12,253
    Brokered deposits $61,240
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $702,890
    Cash & Balances due from depository institutions $9,949
    Interest-bearing balances $9,010
    Total securities $27,056
    Federal funds sold & reverse repurchase $26,358
    Net loans and leases $619,662
    Loan and leases loss allowance $6,913
    Trading account assets $0
    Bank premises and fixed assets $6,439
    Other real estate owned $0
    Goodwill and other intangibles $2,212
    All other assets $11,214

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $702,890
    Total Liabilities $620,406
    Total deposits $587,989
    Interest-bearing deposits $569,202
    Deposits held in domestic offices $587,989
    % insured (estimated) $62
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $30,000
    Subordinated debt $0
    All other liabilities $2,417

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $619,662
    Loan and leases loss allowance $6,913
    Total loans and leases (domestic) $626,575
    All real estate loans $434,912
    Real estate loans in domestic offices $434,912
    Construction and development loans $52,008
    Residential 1-4 family construction $19,815
    Other construction, all land development and other land $32,193
    Loans secured by nonfarm nonresidential properties $251,761
    Nonfarm nonresidential secured by owner-occupied properties $111,192
    Commercial real estate & other non-farm, non-residential $140,569
    Multifamily residential real estate $30,629
    1-4 family residential loans $91,411
    Farmland loans $9,103
    Loans held in foreign offices $0
    Farm loans $333
    Commercial and industrial loans $181,990
    To non-U.S. addressees $0
    Loans to individuals $844
    Credit card loans $0
    Related Plans $45
    Consumer Auto Loans $601
    Other loans to individuals $198
    All other loans & leases $8,496
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $610
    Non 1-4 family restructured loans & leases $264
    Total loans and leases (foreign) $0

    Centric Bank had $619,662,000 of loans outstanding in 2018. $434,912,000 of loans were in real estate loans. $52,008,000 of loans were in development loans. $30,629,000 of loans were in multifamily mortgage loans. $91,411,000 of loans were in 1-4 family mortgage loans. $333,000 of loans were in farm loans. $0 of loans were in credit card loans. $601,000 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 257 $72,889 $283,615
    Nonfarm, nonresidential loans - <$100k 27 $1,044 $38,667
    Nonfarm, nonresidential loans - $100-250k 66 $7,867 $119,197
    Nonfarm, nonresidential loans - $250k-1MM 164 $63,978 $390,110
    Commercial & Industrial, US addressed loans - <$1MM 504 $62,751 $124,506
    Commercial & Industrial, US addressed loans - <$100k 184 $5,540 $30,109
    Commercial & Industrial, US addressed loans - $100-250k 135 $12,115 $89,741
    Commercial & Industrial, US addressed loans - $250k-1MM 185 $45,096 $243,762
    Farmland loans - <$1MM 3 $706 $235,333
    Farmland loans - $100-250k 1 $117 $117,000
    Farmland loans - $250k-1MM 2 $589 $294,500
    Agriculture operations loans - <$1MM 2 $300 $150,000
    Agriculture operations loans - $100-250k 2 $300 $150,000