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: Philadelphia, Harrisburg, Lancaster, Atlantic City, and York among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Centric 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
226Origination Dollar Volume (All Markets)
$106,600,000Employee count
130Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 39 | $35,735,000 | $916,282 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 134 | $34,740,000 | $259,254 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 15 | $15,555,000 | $1,037,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 3 | $7,755,000 | $2,585,000 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 19 | $5,065,000 | $266,579 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $3,985,000 | $1,328,333 | $0 | 0.00% |
| LEBANON, PA (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $0 | 0.00% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 3 | $515,000 | $171,667 | $0 | 0.00% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| STATE COLLEGE, PA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 225 | $106,375,000 | $472,778 | $0 | 0.00% |
| USDA | 1 | $225,000 | $225,000 | $0 | 0.00% |
For 2021, Centric Bank's most frequently originated type of loan was Conventional, with 225 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2021, Centric Bank's most frequently cited loan purpose was Refi, with 101 originations. The 2nd most popular reason was Home Purchase, with 85 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 226 | $106,600,000 | $471,681 | $0 | 0.00% |
For 2021, Centric Bank's most frequently cited loan duration was Other, with 226 originations.
Loan Sizing
2021 saw Centric Bank place emphasis on $200k-400k loans with 96 originations, totaling $27,400,000 in origination value.
Applicant Income
Centric Bank lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $50k-75k, with 31 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 226 | $106,600,000 | $471,681 | $0 | 0.00% |
Centric Bank lent most frequently to those with DTI ratios of Exempt%, with 226 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.17%
Centric Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.50%
Centric Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 226 | $106,600,000 | $471,681 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Central Mortgage Funding, LLC | Conventional home 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 | 105 Lancaster Avenue Devon, PA 19333 | Full Service B&M | $60,957 |
| Centric Bank | 1201 West Governor Road Hummelstown, PA 17036 | Full Service B&M | $74,583 |
| Centric Bank | 1625 Market Street Camp Hill, PA 17011 | Full Service B&M | $174,596 |
| Centric Bank | 2003 South Easton Road Doylestown, PA 18901 | Full Service B&M | $66,050 |
| Centric Bank | 22d East Roseville Rd Lancaster, PA 17601 | Limited, Administrative | $0 |
| Centric Bank | 22d East Roseville Road Lancaster, PA 17601 | Full Service B&M | $25,674 |
| Centric Bank | 4320 Linglestown Rd Harrisburg, PA 17112 | Full Service B&M | $384,975 |
| Centric Bank | 6480 Carlisle Pike Mechanicsburg, PA 17050 | Full Service B&M | $158,537 |
| Centric Bank | 80 West Lancaster Avenue Devon, PA 19333 | Full Service B&M | $0 |
For 2021, Centric Bank had 9 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $47,490 |
| Net interest income | $42,939 |
| Total noninterest income | $3,323 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $327 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,996 |
| Pre-tax net operating income | $13,917 |
| Securities gains (or losses, -) | $11 |
| Income before extraordinary items | $11,242 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $11,242 |
| Minority interest net income | $0 |
| Net income | $11,242 |
| Sale, conversion, retirement of capital stock, net | $400 |
| Net operating income | $11,233 |
Centric Bank's gross interest income from loans was $47,490,000.
Centric Bank's net interest income from loans was $42,939,000.
Centric Bank's fee based income from loans was $327,000.
Centric Bank's net income from loans was $11,242,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,551 |
| Provision for credit losses | $7,596 |
| Total noninterest expense | $24,749 |
| Salaries and employee benefits | $14,445 |
| Premises and equipment expense | $2,426 |
| Additional noninterest expense | $7,878 |
| Applicable income taxes | $2,686 |
| Net charge-offs | $5,676 |
| Cash dividends | $0 |
Centric Bank's interest expense for loans was $4,551,000.
Centric Bank's payroll and benefits expense were $14,445,000.
Centric Bank's property, plant and equipment expenses $2,426,000.
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 | 0.0% |
| HELOC loans | 1.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 4.0% |
| 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 | $815,467 |
| Deposits held in domestic offices | $815,467 |
| Deposits by Individuals, partnerships, and corporations | $756,611 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $56,438 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,418 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $450,176 |
| Demand deposits | $230,180 |
| Nontransaction accounts | $365,291 |
| Money market deposit accounts (MMDAs) | $231,666 |
| Other savings deposits (excluding MMDAs) | $11,024 |
| Total time deposits | $122,601 |
| Total time and savings deposits | $585,287 |
| Noninterest-bearing deposits | $230,180 |
| Interest-bearing deposits | $585,287 |
| Retail deposits | $775,737 |
| IRAs and Keogh plan accounts | $10,260 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $983,163 |
| Cash & Balances due from depository institutions | $6,449 |
| Interest-bearing balances | $2,608 |
| Total securities | $41,270 |
| Federal funds sold & reverse repurchase | $38,627 |
| Net loans and leases | $862,616 |
| Loan and leases loss allowance | $12,407 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $15,630 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $1,452 |
| All other assets | $17,119 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $983,163 |
| Total Liabilities | $872,308 |
| Total deposits | $815,467 |
| Interest-bearing deposits | $585,287 |
| Deposits held in domestic offices | $815,467 |
| % insured (estimated) | $57 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $51,644 |
| Subordinated debt | $0 |
| All other liabilities | $5,197 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $862,616 |
| Loan and leases loss allowance | $12,407 |
| Total loans and leases (domestic) | $875,023 |
| All real estate loans | $634,438 |
| Real estate loans in domestic offices | $634,438 |
| Construction and development loans | $72,130 |
| Residential 1-4 family construction | $22,488 |
| Other construction, all land development and other land | $49,642 |
| Loans secured by nonfarm nonresidential properties | $402,423 |
| Nonfarm nonresidential secured by owner-occupied properties | $176,285 |
| Commercial real estate & other non-farm, non-residential | $226,138 |
| Multifamily residential real estate | $45,673 |
| 1-4 family residential loans | $106,499 |
| Farmland loans | $7,713 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $237,379 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,394 |
| Credit card loans | $0 |
| Related Plans | $333 |
| Consumer Auto Loans | $400 |
| Other loans to individuals | $661 |
| All other loans & leases | $1,812 |
| 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 | $3,766 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $184 |
| Non 1-4 family restructured loans & leases | $184 |
| Total loans and leases (foreign) | $0 |
Centric Bank had $862,616,000 of loans outstanding in 2021. $634,438,000 of loans were in real estate loans. $72,130,000 of loans were in development loans. $45,673,000 of loans were in multifamily mortgage loans. $106,499,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $400,000 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 | 293 | $91,660 | $312,833 |
| Nonfarm, nonresidential loans - <$100k | 21 | $955 | $45,476 |
| Nonfarm, nonresidential loans - $100-250k | 72 | $8,607 | $119,542 |
| Nonfarm, nonresidential loans - $250k-1MM | 200 | $82,098 | $410,490 |
| Commercial & Industrial, US addressed loans - <$1MM | 656 | $84,559 | $128,901 |
| Commercial & Industrial, US addressed loans - <$100k | 253 | $6,105 | $24,130 |
| Commercial & Industrial, US addressed loans - $100-250k | 177 | $15,907 | $89,870 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 226 | $62,547 | $276,757 |
| Farmland loans - <$1MM | 6 | $961 | $160,167 |
| Farmland loans - <$100k | 1 | $50 | $50,000 |
| Farmland loans - $100-250k | 3 | $373 | $124,333 |
| Farmland loans - $250k-1MM | 2 | $538 | $269,000 |