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, Durango, Flint, Tucson, and Bay City among others. We have data for 6 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

    179

    Origination Dollar Volume (All Markets)

    $27,555,000

    Employee count

    86

    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) 101 $18,265,000 $180,842 $0 0.00%
    Outside of Metro Areas 70 $7,410,000 $105,857 $0 0.00%
    Durango, CO (FHA|USDA|VA) 2 $960,000 $480,000 $0 0.00%
    FLINT, MI (FHA|USDA|VA) 4 $460,000 $115,000 $0 0.00%
    TUCSON, AZ (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
    BAY CITY, MI (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    Tri-county Bank's top markets include Detroit, Durango, Flint, Tucson, and Bay City among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 179 $27,555,000 $153,939 $0 0.00%

    For 2019, Tri-county Bank's most frequently originated type of loan was Conventional, with 179 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $17,535,000 $177,121 $0 0.00%
    Cash Out Refi 44 $6,160,000 $140,000 $0 0.00%
    Refi 26 $3,250,000 $125,000 $0 0.00%
    Home Improvement 8 $540,000 $67,500 $0 0.00%
    Other 2 $70,000 $35,000 $0 0.00%

    For 2019, Tri-county Bank's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 179 $27,555,000 $153,939 $0 0.00%

    For 2019, Tri-county Bank's most frequently cited loan duration was Other, with 179 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 70 $4,280,000 $61,143 $0 0.00%
    $100k-200k 67 $9,455,000 $141,119 $0 0.00%
    $200k-400k 32 $8,320,000 $260,000 $0 0.00%
    $400k-600k 7 $3,055,000 $436,429 $0 0.00%
    $600k-1MM 2 $1,340,000 $670,000 $0 0.00%
    $1MM+ 1 $1,105,000 $1,105,000 $0 0.00%

    2019 saw Tri-county Bank place emphasis on $100,000 or less loans with 70 originations, totaling $4,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $6,305,000 $170,405 $0 0.00%
    $50k-75k 35 $4,585,000 $131,000 $0 0.00%
    $50k or less 31 $2,645,000 $85,323 $0 0.00%
    $75k-100k 27 $3,985,000 $147,593 $0 0.00%
    $150k-250k 9 $1,995,000 $221,667 $0 0.00%
    $250k+ 9 $2,595,000 $288,333 $0 0.00%

    Tri-county Bank lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $50k-75k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 179 $27,555,000 $153,939 $0 0.00%

    Tri-county Bank lent most frequently to those with DTI ratios of Exempt%, with 179 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 169 $25,395,000 $150,266 $0 0.00%
    Not applicable 10 $2,160,000 $216,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.69%

    Tri-county Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    98.32%

    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 179 $27,555,000 $153,939

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $2,690,000 $448,333
    Single Family (1-4 Units):Manufactured 12 $1,100,000 $91,667
    Single Family (1-4 Units):Site-Built 161 $23,765,000 $147,609

    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 $19,443
    Tri-County Bank 3433 Capac Rd Capac, MI 48014 Limited, Drive-thru $6,930
    Tri-County Bank 3482 South Main Street Marlette, MI 48453 Full Service B&M $15,567
    Tri-County Bank 4190 Main Street Brown City, MI 48416 Full Service B&M $85,883
    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 $44,933
    Tri-County Bank 5915 State Street Kingston, MI 48741 Full Service B&M $5,168
    Tri-County Bank 6541 Plaza Drive Marlette, MI 48453 Limited, Drive-thru $0
    Tri-County Bank 6681 Bernie Kohler Drive North Branch, MI 48461 Full Service B&M $16,422
    Tri-County Bank 6730 Newark Road Imlay City, MI 48444 Full Service B&M $31,592
    Tri-County Bank 7514 South Brockway Road Yale, MI 48097 Full Service B&M $45,951

    For 2019, Tri-county Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,345
    Net interest income $13,478
    Total noninterest income $1,925
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $490
    Trading account gains and fees $0
    Additional Noninterest Income $1,435
    Pre-tax net operating income $6,338
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,093
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,093
    Minority interest net income $0
    Net income $5,093
    Sale, conversion, retirement of capital stock, net $264
    Net operating income $5,093

    Tri-county Bank's gross interest income from loans was $15,345,000.
    Tri-county Bank's net interest income from loans was $13,478,000.
    Tri-county Bank's fee based income from loans was $490,000.
    Tri-county Bank's net income from loans was $5,093,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,867
    Provision for credit losses $174
    Total noninterest expense $8,891
    Salaries and employee benefits $5,481
    Premises and equipment expense $962
    Additional noninterest expense $2,448
    Applicable income taxes $1,245
    Net charge-offs $38
    Cash dividends $820

    Tri-county Bank's interest expense for loans was $1,867,000.
    Tri-county Bank's payroll and benefits expense were $5,481,000.
    Tri-county Bank's property, plant and equipment expenses $962,000.

    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 2.0%
    Nonfarm, nonresidential loans 1.0%
    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 $275,389
    Deposits held in domestic offices $275,389
    Deposits by Individuals, partnerships, and corporations $245,500
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $29,889
    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 $40,466
    Demand deposits $21,185
    Nontransaction accounts $234,923
    Money market deposit accounts (MMDAs) $3,718
    Other savings deposits (excluding MMDAs) $177,614
    Total time deposits $53,591
    Total time and savings deposits $254,204
    Noninterest-bearing deposits $92,209
    Interest-bearing deposits $183,180
    Retail deposits $272,231
    IRAs and Keogh plan accounts $12,478
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $319,357
    Cash & Balances due from depository institutions $8,241
    Interest-bearing balances $4,154
    Total securities $39,976
    Federal funds sold & reverse repurchase $2,377
    Net loans and leases $249,607
    Loan and leases loss allowance $2,018
    Trading account assets $0
    Bank premises and fixed assets $7,648
    Other real estate owned $42
    Goodwill and other intangibles $1,035
    All other assets $10,431

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $319,357
    Total Liabilities $279,278
    Total deposits $275,389
    Interest-bearing deposits $183,180
    Deposits held in domestic offices $275,389
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,000
    Subordinated debt $0
    All other liabilities $889

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $249,607
    Loan and leases loss allowance $2,018
    Total loans and leases (domestic) $251,625
    All real estate loans $206,829
    Real estate loans in domestic offices $206,829
    Construction and development loans $19,646
    Residential 1-4 family construction $7,566
    Other construction, all land development and other land $12,080
    Loans secured by nonfarm nonresidential properties $90,684
    Nonfarm nonresidential secured by owner-occupied properties $74,008
    Commercial real estate & other non-farm, non-residential $16,676
    Multifamily residential real estate $3,622
    1-4 family residential loans $32,735
    Farmland loans $60,142
    Loans held in foreign offices $0
    Farm loans $15,199
    Commercial and industrial loans $24,523
    To non-U.S. addressees $0
    Loans to individuals $4,337
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,119
    Other loans to individuals $2,218
    All other loans & leases $737
    Loans to foreign governments and official institutions $0
    Other loans $9
    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 $298
    Non 1-4 family restructured loans & leases $139
    Total loans and leases (foreign) $0

    Tri-County Bank had $249,607,000 of loans outstanding in 2019. $206,829,000 of loans were in real estate loans. $19,646,000 of loans were in development loans. $3,622,000 of loans were in multifamily mortgage loans. $32,735,000 of loans were in 1-4 family mortgage loans. $15,199,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,119,000 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 215 $49,981 $232,470
    Nonfarm, nonresidential loans - <$100k 49 $3,003 $61,286
    Nonfarm, nonresidential loans - $100-250k 83 $10,678 $128,651
    Nonfarm, nonresidential loans - $250k-1MM 83 $36,300 $437,349
    Commercial & Industrial, US addressed loans - <$1MM 337 $22,827 $67,736
    Commercial & Industrial, US addressed loans - <$100k 259 $7,172 $27,691
    Commercial & Industrial, US addressed loans - $100-250k 49 $4,595 $93,776
    Commercial & Industrial, US addressed loans - $250k-1MM 29 $11,060 $381,379
    Farmland loans - <$1MM 307 $38,034 $123,889
    Farmland loans - <$100k 120 $5,344 $44,533
    Farmland loans - $100-250k 134 $17,287 $129,007
    Farmland loans - $250k-1MM 53 $15,403 $290,623
    Agriculture operations loans - <$1MM 264 $11,727 $44,420
    Agriculture operations loans - <$100k 229 $5,589 $24,406
    Agriculture operations loans - $100-250k 24 $2,709 $112,875
    Agriculture operations loans - $250k-1MM 11 $3,429 $311,727