The Citizens National Bank Of Somerset Mortgage Rates, Fees & Info
Somerset, KYLEI: 549300JCW11CIGH8GJ60
Tax ID: 61-0156616
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & Overview
The Citizens National Bank Of Somerset is a smaller bank specializing in Home Purchase and Refi loans. The Citizens National Bank Of Somerset has a high proportion of conventional loans. Their top markets by origination volume include: Somerset, Lexington, Danville, Phoenix, and Cincinnati among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)The Citizens National Bank Of Somerset 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.27% | 4/14/24 |
| 30 Year Conventional Refi | 7.13% | 4/14/24 |
| 30 Year Cash-out Refi | 6.79% | 4/14/24 |
| 30 Year USDA Purchase | 6.27% | 4/14/24 |
| 15 Year Conventional Purchase | 6.76% | 4/14/24 |
| 15 Year Conventional Refi | 6.28% | 4/14/24 |
| 15 Year Cash-out Refi | 6.28% | 4/14/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
The Citizens National Bank Of Somerset Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from The Citizens National Bank Of Somerset. It uses our SimulatedRate™
technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.
The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
260Origination Dollar Volume (All Markets)
$32,520,000Employee count
122Top 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 |
|---|---|---|---|---|---|
| Somerset, KY (FHA|USDA|VA) | 163 | $20,945,000 | $128,497 | $0 | 0.00% |
| Outside of Metro Areas | 78 | $8,200,000 | $105,128 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 10 | $2,610,000 | $261,000 | $0 | 0.00% |
| Danville, KY (FHA|USDA|VA) | 4 | $350,000 | $87,500 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Bardstown, KY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| London, KY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against The Citizens National Bank of Somerset based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 90
Similarity Rank: 98
Similarity Rank: 140
Similarity Rank: 190
Similarity Rank: 315
Similarity Rank: 324
Similarity Rank: 372
Similarity Rank: 396
Similarity Rank: 414
Similarity Rank: 468
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 260 | $32,520,000 | $125,077 | $0 | 0.00% |
For 2018, The Citizens National Bank Of Somerset's most frequently originated type of loan was Conventional, with 260 originations.
Loan Reason
For 2018, The Citizens National Bank Of Somerset's most frequently cited loan purpose was Home Purchase, with 160 originations. The 2nd most popular reason was Refi, with 73 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 260 | $32,520,000 | $125,077 | $0 | 0.00% |
For 2018, The Citizens National Bank Of Somerset's most frequently cited loan duration was Other, with 260 originations.
Loan Sizing
2018 saw The Citizens National Bank Of Somerset place emphasis on $100,000 or less loans with 124 originations, totaling $7,340,000 in origination value.
Applicant Income
The Citizens National Bank Of Somerset lent most frequently to those with incomes in the $50k or less range, with 70 originations. The second most popular income band? $50k-75k, with 62 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 260 | $32,520,000 | $125,077 | $0 | 0.00% |
The Citizens National Bank Of Somerset lent most frequently to those with DTI ratios of Exempt%, with 260 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.56%
The Citizens National Bank Of Somerset has an average approval rate.
Pick Rate
Approvals leading to origination79.23%
The Citizens National Bank Of Somerset has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 260 | $32,520,000 | $125,077 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Citizens National Bank of Somerset | 105 West Highway 635 Science Hill, KY 42553 | Full Service B&M | $40,198 |
| The Citizens National Bank of Somerset | 1504 Lakeway Drive, Suite A Russell Springs, KY 42642 | Full Service B&M | $5,053 |
| The Citizens National Bank of Somerset | 290 Cumberland Crossing Monticello, KY 42633 | Full Service B&M | $10,075 |
| The Citizens National Bank of Somerset | 293 North Highway 27 Somerset, KY 42503 | Full Service B&M | $53,209 |
| The Citizens National Bank of Somerset | 4145 South Highway 27 Somerset, KY 42501 | Full Service B&M | $51,044 |
| The Citizens National Bank of Somerset | 44 Public Square Somerset, KY 42501 | Full Service B&M | $96,671 |
| The Citizens National Bank of Somerset | 601 Keene Centre Drive Nicholasville, KY 40356 | Full Service B&M | $6,146 |
| The Citizens National Bank of Somerset | 6385 South Highway 27 Somerset, KY 42501 | Full Service B&M | $26,874 |
| The Citizens National Bank of Somerset | 800 South Highway 27 Somerset, KY 42501 | Full Service B&M | $9,991 |
| The Citizens National Bank of Somerset | 9140 West Highway 80 Nancy, KY 42544 | Full Service B&M | $22,679 |
For 2018, The Citizens National Bank Of Somerset had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $16,347 |
| Net interest income | $14,899 |
| Total noninterest income | $4,028 |
| Gross Fiduciary activities income | $123 |
| Service charges on deposit accounts | $1,564 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,341 |
| Pre-tax net operating income | $5,797 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $5,797 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,797 |
| Minority interest net income | $0 |
| Net income | $5,797 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,797 |
The Citizens National Bank Of Somerset's gross interest income from loans was $16,347,000.
The Citizens National Bank Of Somerset's net interest income from loans was $14,899,000.
The Citizens National Bank Of Somerset's fee based income from loans was $1,564,000.
The Citizens National Bank Of Somerset's net income from loans was $5,797,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,448 |
| Provision for credit losses | $570 |
| Total noninterest expense | $12,560 |
| Salaries and employee benefits | $6,279 |
| Premises and equipment expense | $1,693 |
| Additional noninterest expense | $4,588 |
| Applicable income taxes | $0 |
| Net charge-offs | $810 |
| Cash dividends | $4,594 |
The Citizens National Bank Of Somerset's interest expense for loans was $1,448,000.
The Citizens National Bank Of Somerset's payroll and benefits expense were $6,279,000.
The Citizens National Bank Of Somerset's property, plant and equipment expenses $1,693,000.
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 | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 1.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $334,946 |
| Deposits held in domestic offices | $334,946 |
| Deposits by Individuals, partnerships, and corporations | $292,807 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $42,140 |
| 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 | $77,366 |
| Demand deposits | $24,428 |
| Nontransaction accounts | $257,581 |
| Money market deposit accounts (MMDAs) | $17,792 |
| Other savings deposits (excluding MMDAs) | $142,769 |
| Total time deposits | $97,020 |
| Total time and savings deposits | $310,519 |
| Noninterest-bearing deposits | $109,869 |
| Interest-bearing deposits | $225,077 |
| Retail deposits | $308,948 |
| IRAs and Keogh plan accounts | $13,321 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $405,897 |
| Cash & Balances due from depository institutions | $27,048 |
| Interest-bearing balances | $21,469 |
| Total securities | $121,948 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $242,975 |
| Loan and leases loss allowance | $2,979 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,623 |
| Other real estate owned | $3,669 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,634 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $405,897 |
| Total Liabilities | $366,977 |
| Total deposits | $334,946 |
| Interest-bearing deposits | $225,077 |
| Deposits held in domestic offices | $334,946 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $31,233 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $798 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $242,975 |
| Loan and leases loss allowance | $2,979 |
| Total loans and leases (domestic) | $245,954 |
| All real estate loans | $204,941 |
| Real estate loans in domestic offices | $204,941 |
| Construction and development loans | $18,189 |
| Residential 1-4 family construction | $5,593 |
| Other construction, all land development and other land | $12,596 |
| Loans secured by nonfarm nonresidential properties | $70,824 |
| Nonfarm nonresidential secured by owner-occupied properties | $38,547 |
| Commercial real estate & other non-farm, non-residential | $32,277 |
| Multifamily residential real estate | $9,355 |
| 1-4 family residential loans | $97,904 |
| Farmland loans | $8,669 |
| Loans held in foreign offices | $0 |
| Farm loans | $1,192 |
| Commercial and industrial loans | $13,540 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $21,603 |
| Credit card loans | $0 |
| Related Plans | $456 |
| Consumer Auto Loans | $11,233 |
| Other loans to individuals | $9,914 |
| All other loans & leases | $4,678 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $4,478 |
| 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 | $371 |
| Non 1-4 family restructured loans & leases | $361 |
| Total loans and leases (foreign) | $0 |
The Citizens National Bank of Somerset had $242,975,000 of loans outstanding in 2018. $204,941,000 of loans were in real estate loans. $18,189,000 of loans were in development loans. $9,355,000 of loans were in multifamily mortgage loans. $97,904,000 of loans were in 1-4 family mortgage loans. $1,192,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,233,000 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 | 147 | $32,783 | $223,014 |
| Nonfarm, nonresidential loans - <$100k | 48 | $1,890 | $39,375 |
| Nonfarm, nonresidential loans - $100-250k | 49 | $6,210 | $126,735 |
| Nonfarm, nonresidential loans - $250k-1MM | 50 | $24,683 | $493,660 |
| Commercial & Industrial, US addressed loans - <$1MM | 286 | $10,767 | $37,647 |
| Commercial & Industrial, US addressed loans - <$100k | 249 | $4,231 | $16,992 |
| Commercial & Industrial, US addressed loans - $100-250k | 24 | $1,986 | $82,750 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 13 | $4,550 | $350,000 |
| Farmland loans - <$1MM | 55 | $5,926 | $107,745 |
| Farmland loans - <$100k | 27 | $1,203 | $44,556 |
| Farmland loans - $100-250k | 16 | $1,826 | $114,125 |
| Farmland loans - $250k-1MM | 12 | $2,897 | $241,417 |
| Agriculture operations loans - <$1MM | 63 | $1,192 | $18,921 |
| Agriculture operations loans - <$100k | 62 | $817 | $13,177 |
| Agriculture operations loans - $250k-1MM | 1 | $375 | $375,000 |