Tri-county Bank Mortgage Rates, Fees & Info

Brown City, MI

LEI: 549300KNV94E4Y2HSK54

Tax ID: 38-0377226

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Tri-county Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Tri-county Bank has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Saginaw, Flint, Bay City, and Traverse City among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Tri-county Bank has an above average approval rate when compared to the average across all lenders. They have an above 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.

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    Originations

    183

    Origination Dollar Volume (All Markets)

    $23,385,000

    Employee count

    82

    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
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 97 $15,205,000 $156,753 $0 0.00%
    Outside of Metro Areas 78 $7,030,000 $90,128 $0 0.00%
    SAGINAW, MI (FHA|USDA|VA) 3 $405,000 $135,000 $0 0.00%
    FLINT, MI (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
    BAY CITY, MI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    Traverse City, MI (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Tri-county Bank's top markets include Detroit, Saginaw, Flint, Bay City, and Traverse City among others.

    Their top states include:
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 183 $23,385,000 $127,787 $0 0.00%

    For 2018, Tri-county Bank's most frequently originated type of loan was Conventional, with 183 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $13,900,000 $144,792 $0 0.00%
    Cash Out Refi 41 $5,115,000 $124,756 $0 0.00%
    Refi 28 $3,540,000 $126,429 $0 0.00%
    Home Improvement 15 $585,000 $39,000 $0 0.00%
    Other 3 $245,000 $81,667 $0 0.00%

    For 2018, Tri-county Bank's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Cash Out Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 183 $23,385,000 $127,787 $0 0.00%

    For 2018, Tri-county Bank's most frequently cited loan duration was Other, with 183 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 87 $5,175,000 $59,483 $0 0.00%
    $100k-200k 61 $8,485,000 $139,098 $0 0.00%
    $200k-400k 31 $7,685,000 $247,903 $0 0.00%
    $400k-600k 3 $1,265,000 $421,667 $0 0.00%
    $600k-1MM 1 $775,000 $775,000 $0 0.00%

    2018 saw Tri-county Bank place emphasis on $100,000 or less loans with 87 originations, totaling $5,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 50 $5,500,000 $110,000 $0 0.00%
    $50k or less 42 $3,550,000 $84,524 $0 0.00%
    $100k-150k 34 $5,210,000 $153,235 $0 0.00%
    $75k-100k 33 $4,415,000 $133,788 $0 0.00%
    $150k-250k 11 $1,885,000 $171,364 $0 0.00%
    $250k+ 3 $825,000 $275,000 $0 0.00%

    Tri-county Bank lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $50k or less, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 183 $23,385,000 $127,787 $0 0.00%

    Tri-county Bank lent most frequently to those with DTI ratios of Exempt%, with 183 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 175 $21,415,000 $122,371 $0 0.00%
    Not applicable 7 $1,815,000 $259,286 $0 0.00%
    Chinese 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.09%

    Tri-county Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.91%

    Tri-county Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 183 $23,385,000 $127,787

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,700,000 $425,000
    Single Family (1-4 Units):Manufactured 11 $915,000 $83,182
    Single Family (1-4 Units):Site-Built 168 $20,770,000 $123,631

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Tri-County Bank 2 East Lapeer Road Peck, MI 48466 Full Service B&M $24,930
    Tri-County Bank 3418 Main Street Marlette, MI 48453 Limited, Drive-thru $0
    Tri-County Bank 3433 Capac Rd Capac, MI 48014 Limited, Drive-thru $6,431
    Tri-County Bank 3482 South Main Street Marlette, MI 48453 Full Service B&M $16,507
    Tri-County Bank 4222 Main Street Brown City, MI 48416 Full Service B&M $67,399
    Tri-County Bank 4436 Main Street Brown City, MI 48416 Limited, Drive-thru $0
    Tri-County Bank 4511 Van Dyke Road Almont, MI 48003 Full Service B&M $41,117
    Tri-County Bank 5915 State Street Kingston, MI 48741 Full Service B&M $4,718
    Tri-County Bank 6681 Bernie Kohler Drive North Branch, MI 48461 Full Service B&M $15,845
    Tri-County Bank 6730 Newark Road Imlay City, MI 48444 Full Service B&M $27,473
    Tri-County Bank 7514 South Brockway Road Yale, MI 48097 Full Service B&M $45,270

    For 2018, Tri-county Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,317
    Net interest income $12,323
    Total noninterest income $1,902
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $469
    Trading account gains and fees $0
    Additional Noninterest Income $1,433
    Pre-tax net operating income $5,580
    Securities gains (or losses, -) $-10
    Income before extraordinary items $4,501
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,501
    Minority interest net income $0
    Net income $4,501
    Sale, conversion, retirement of capital stock, net $228
    Net operating income $4,509

    Tri-county Bank's gross interest income from loans was $13,317,000.
    Tri-county Bank's net interest income from loans was $12,323,000.
    Tri-county Bank's fee based income from loans was $469,000.
    Tri-county Bank's net income from loans was $4,501,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $994
    Provision for credit losses $394
    Total noninterest expense $8,251
    Salaries and employee benefits $5,016
    Premises and equipment expense $837
    Additional noninterest expense $2,398
    Applicable income taxes $1,069
    Net charge-offs $28
    Cash dividends $725

    Tri-county Bank's interest expense for loans was $994,000.
    Tri-county Bank's payroll and benefits expense were $5,016,000.
    Tri-county Bank's property, plant and equipment expenses $837,000.

    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 1.0%
    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 $262,667
    Deposits held in domestic offices $262,667
    Deposits by Individuals, partnerships, and corporations $228,950
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $33,717
    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 $30,512
    Demand deposits $20,427
    Nontransaction accounts $232,155
    Money market deposit accounts (MMDAs) $3,680
    Other savings deposits (excluding MMDAs) $173,136
    Total time deposits $55,339
    Total time and savings deposits $242,240
    Noninterest-bearing deposits $89,516
    Interest-bearing deposits $173,151
    Retail deposits $258,880
    IRAs and Keogh plan accounts $12,698
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $297,479
    Cash & Balances due from depository institutions $9,680
    Interest-bearing balances $3,677
    Total securities $50,176
    Federal funds sold & reverse repurchase $262
    Net loans and leases $221,388
    Loan and leases loss allowance $1,882
    Trading account assets $0
    Bank premises and fixed assets $4,772
    Other real estate owned $119
    Goodwill and other intangibles $1,106
    All other assets $9,976

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $297,479
    Total Liabilities $262,930
    Total deposits $262,667
    Interest-bearing deposits $173,151
    Deposits held in domestic offices $262,667
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $263

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $221,388
    Loan and leases loss allowance $1,882
    Total loans and leases (domestic) $223,270
    All real estate loans $182,970
    Real estate loans in domestic offices $182,970
    Construction and development loans $19,705
    Residential 1-4 family construction $9,952
    Other construction, all land development and other land $9,753
    Loans secured by nonfarm nonresidential properties $70,388
    Nonfarm nonresidential secured by owner-occupied properties $55,940
    Commercial real estate & other non-farm, non-residential $14,448
    Multifamily residential real estate $2,995
    1-4 family residential loans $31,005
    Farmland loans $58,877
    Loans held in foreign offices $0
    Farm loans $14,056
    Commercial and industrial loans $21,263
    To non-U.S. addressees $0
    Loans to individuals $4,032
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,949
    Other loans to individuals $2,083
    All other loans & leases $949
    Loans to foreign governments and official institutions $0
    Other loans $25
    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 $1,268
    Non 1-4 family restructured loans & leases $1,067
    Total loans and leases (foreign) $0

    Tri-County Bank had $221,388,000 of loans outstanding in 2018. $182,970,000 of loans were in real estate loans. $19,705,000 of loans were in development loans. $2,995,000 of loans were in multifamily mortgage loans. $31,005,000 of loans were in 1-4 family mortgage loans. $14,056,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,949,000 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 212 $47,372 $223,453
    Nonfarm, nonresidential loans - <$100k 58 $2,804 $48,345
    Nonfarm, nonresidential loans - $100-250k 72 $9,513 $132,125
    Nonfarm, nonresidential loans - $250k-1MM 82 $35,055 $427,500
    Commercial & Industrial, US addressed loans - <$1MM 317 $20,529 $64,760
    Commercial & Industrial, US addressed loans - <$100k 237 $5,991 $25,278
    Commercial & Industrial, US addressed loans - $100-250k 57 $5,642 $98,982
    Commercial & Industrial, US addressed loans - $250k-1MM 23 $8,896 $386,783
    Farmland loans - <$1MM 305 $37,925 $124,344
    Farmland loans - <$100k 124 $5,652 $45,581
    Farmland loans - $100-250k 130 $17,208 $132,369
    Farmland loans - $250k-1MM 51 $15,065 $295,392
    Agriculture operations loans - <$1MM 248 $10,488 $42,290
    Agriculture operations loans - <$100k 214 $4,824 $22,542
    Agriculture operations loans - $100-250k 24 $3,033 $126,375
    Agriculture operations loans - $250k-1MM 10 $2,631 $263,100