Centric Bank Mortgage Rates, Fees & Info
Harrisburg, PALEI: 549300INPBRHB0MQ7S63
Tax ID: 23-0510610
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Mortgage Data
Bank Data
Review & Overview
Centric Bank is a smaller bank specializing in Refi and Home Purchase loans. Centric Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Harrisburg, Philadelphia, York, Ocean City, and Altoona among others. We have data for 17 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
209Origination Dollar Volume (All Markets)
$87,605,000Employee count
132Top 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) | 125 | $42,715,000 | $341,720 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 33 | $28,905,000 | $875,909 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 18 | $4,250,000 | $236,111 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $2,105,000 | $701,667 | $0 | 0.00% |
| ALTOONA, PA (FHA|USDA|VA) | 1 | $1,785,000 | $1,785,000 | $0 | 0.00% |
| LEBANON, PA (FHA|USDA|VA) | 10 | $1,660,000 | $166,000 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 5 | $1,525,000 | $305,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $1,500,000 | $375,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 208 | $87,460,000 | $420,481 | $0 | 0.00% |
| USDA | 1 | $145,000 | $145,000 | $0 | 0.00% |
For 2020, Centric Bank's most frequently originated type of loan was Conventional, with 208 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2020, Centric Bank's most frequently cited loan purpose was Refi, with 92 originations. The 2nd most popular reason was Home Purchase, with 70 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 209 | $87,605,000 | $419,163 | $0 | 0.00% |
For 2020, Centric Bank's most frequently cited loan duration was Other, with 209 originations.
Loan Sizing
2020 saw Centric Bank place emphasis on $200k-400k loans with 72 originations, totaling $20,490,000 in origination value.
Applicant Income
Centric Bank lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $150k-250k, with 36 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 209 | $87,605,000 | $419,163 | $0 | 0.00% |
Centric Bank lent most frequently to those with DTI ratios of Exempt%, with 209 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.28%
Centric Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.60%
Centric Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 209 | $87,605,000 | $419,163 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Trouble during payment process | 2 | 50.0% |
| CENTERSTATE BANK CORPORATION | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Centric Bank | 105 Lancaster Avenue Devon, PA 19333 | Full Service B&M | $31,495 |
| Centric Bank | 1201 West Governor Road Hummelstown, PA 17036 | Full Service B&M | $73,552 |
| Centric Bank | 1625 Market Street Camp Hill, PA 17011 | Full Service B&M | $156,105 |
| Centric Bank | 2003 South Easton Road Doylestown, PA 18901 | Full Service B&M | $58,965 |
| Centric Bank | 22d East Roseville Rd Lancaster, PA 17601 | Limited, Administrative | $0 |
| Centric Bank | 4320 Linglestown Rd Harrisburg, PA 17112 | Full Service B&M | $410,658 |
| Centric Bank | 6480 Carlisle Pike Mechanicsburg, PA 17050 | Full Service B&M | $121,853 |
| Centric Bank | 80 West Lancaster Avenue Devon, PA 19333 | Full Service B&M | $0 |
For 2020, Centric Bank had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $41,305 |
| Net interest income | $34,576 |
| Total noninterest income | $3,157 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $215 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,942 |
| Pre-tax net operating income | $12,132 |
| Securities gains (or losses, -) | $191 |
| Income before extraordinary items | $9,952 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,952 |
| Minority interest net income | $0 |
| Net income | $9,952 |
| Sale, conversion, retirement of capital stock, net | $278 |
| Net operating income | $9,797 |
Centric Bank's gross interest income from loans was $41,305,000.
Centric Bank's net interest income from loans was $34,576,000.
Centric Bank's fee based income from loans was $215,000.
Centric Bank's net income from loans was $9,952,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,729 |
| Provision for credit losses | $3,100 |
| Total noninterest expense | $22,501 |
| Salaries and employee benefits | $13,593 |
| Premises and equipment expense | $2,224 |
| Additional noninterest expense | $6,684 |
| Applicable income taxes | $2,371 |
| Net charge-offs | $906 |
| Cash dividends | $0 |
Centric Bank's interest expense for loans was $6,729,000.
Centric Bank's payroll and benefits expense were $13,593,000.
Centric Bank's property, plant and equipment expenses $2,224,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| 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 | 1.0% |
| HELOC loans | 2.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 2.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $927,105 |
| Deposits held in domestic offices | $927,105 |
| Deposits by Individuals, partnerships, and corporations | $810,577 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $97,880 |
| Deposits by Commercial banks and other depository institutions in U.S. | $18,648 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $204,216 |
| Demand deposits | $40,313 |
| Nontransaction accounts | $722,889 |
| Money market deposit accounts (MMDAs) | $155,621 |
| Other savings deposits (excluding MMDAs) | $271,740 |
| Total time deposits | $295,528 |
| Total time and savings deposits | $886,792 |
| Noninterest-bearing deposits | $40,313 |
| Interest-bearing deposits | $886,792 |
| Retail deposits | $632,966 |
| IRAs and Keogh plan accounts | $10,086 |
| Brokered deposits | $217,880 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,117,496 |
| Cash & Balances due from depository institutions | $51,542 |
| Interest-bearing balances | $43,225 |
| Total securities | $40,880 |
| Federal funds sold & reverse repurchase | $30,057 |
| Net loans and leases | $955,893 |
| Loan and leases loss allowance | $10,487 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $17,109 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $1,617 |
| All other assets | $20,398 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,117,496 |
| Total Liabilities | $1,018,139 |
| Total deposits | $927,105 |
| Interest-bearing deposits | $886,792 |
| Deposits held in domestic offices | $927,105 |
| % insured (estimated) | $70 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $84,198 |
| Subordinated debt | $0 |
| All other liabilities | $6,836 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $955,893 |
| Loan and leases loss allowance | $10,487 |
| Total loans and leases (domestic) | $966,380 |
| All real estate loans | $568,035 |
| Real estate loans in domestic offices | $568,035 |
| Construction and development loans | $52,024 |
| Residential 1-4 family construction | $24,461 |
| Other construction, all land development and other land | $27,563 |
| Loans secured by nonfarm nonresidential properties | $373,064 |
| Nonfarm nonresidential secured by owner-occupied properties | $166,912 |
| Commercial real estate & other non-farm, non-residential | $206,152 |
| Multifamily residential real estate | $36,871 |
| 1-4 family residential loans | $95,358 |
| Farmland loans | $10,718 |
| Loans held in foreign offices | $0 |
| Farm loans | $400 |
| Commercial and industrial loans | $394,934 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,021 |
| Credit card loans | $0 |
| Related Plans | $117 |
| Consumer Auto Loans | $561 |
| Other loans to individuals | $343 |
| All other loans & leases | $1,990 |
| 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 | $818 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Centric Bank had $955,893,000 of loans outstanding in 2020. $568,035,000 of loans were in real estate loans. $52,024,000 of loans were in development loans. $36,871,000 of loans were in multifamily mortgage loans. $95,358,000 of loans were in 1-4 family mortgage loans. $400,000 of loans were in farm loans. $0 of loans were in credit card loans. $561,000 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 | 271 | $86,130 | $317,823 |
| Nonfarm, nonresidential loans - <$100k | 24 | $1,150 | $47,917 |
| Nonfarm, nonresidential loans - $100-250k | 69 | $8,960 | $129,855 |
| Nonfarm, nonresidential loans - $250k-1MM | 178 | $76,020 | $427,079 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,912 | $178,094 | $93,145 |
| Commercial & Industrial, US addressed loans - <$100k | 1,306 | $34,294 | $26,259 |
| Commercial & Industrial, US addressed loans - $100-250k | 324 | $40,408 | $124,716 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 282 | $103,392 | $366,638 |
| Farmland loans - <$1MM | 11 | $1,250 | $113,636 |
| Farmland loans - <$100k | 1 | $50 | $50,000 |
| Farmland loans - $100-250k | 7 | $785 | $112,143 |
| Farmland loans - $250k-1MM | 3 | $415 | $138,333 |
| Agriculture operations loans - <$1MM | 2 | $400 | $200,000 |
| Agriculture operations loans - $100-250k | 2 | $400 | $200,000 |