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 Refi and Cash Out Refi loans. Tri-county Bank has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Flint, Durango, Traverse City, and Saginaw among others. We have data for 11 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

    333

    Origination Dollar Volume (All Markets)

    $50,755,000

    Employee count

    84

    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) 206 $34,320,000 $166,602 $0 0.00%
    Outside of Metro Areas 111 $12,595,000 $113,468 $0 0.00%
    FLINT, MI (FHA|USDA|VA) 5 $1,225,000 $245,000 $0 0.00%
    Durango, CO (FHA|USDA|VA) 1 $515,000 $515,000 $0 0.00%
    Traverse City, MI (FHA|USDA|VA) 2 $500,000 $250,000 $0 0.00%
    SAGINAW, MI (FHA|USDA|VA) 3 $415,000 $138,333 $0 0.00%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    MIDLAND, MI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Tri-county Bank's top markets include Detroit, Flint, Durango, Traverse City, and Saginaw among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 333 $50,755,000 $152,417 $0 0.00%

    For 2020, Tri-county Bank's most frequently originated type of loan was Conventional, with 333 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 144 $22,900,000 $159,028 $0 0.00%
    Cash Out Refi 109 $16,195,000 $148,578 $0 0.00%
    Home Purchase 69 $10,015,000 $145,145 $0 0.00%
    Home Improvement 9 $1,375,000 $152,778 $0 0.00%
    Other 2 $270,000 $135,000 $0 0.00%

    For 2020, Tri-county Bank's most frequently cited loan purpose was Refi, with 144 originations. The 2nd most popular reason was Cash Out Refi, with 109 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 333 $50,755,000 $152,417 $0 0.00%

    For 2020, Tri-county Bank's most frequently cited loan duration was Other, with 333 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 160 $23,170,000 $144,813 $0 0.00%
    $100,000 or less 100 $6,630,000 $66,300 $0 0.00%
    $200k-400k 64 $16,280,000 $254,375 $0 0.00%
    $400k-600k 8 $3,660,000 $457,500 $0 0.00%
    $1MM+ 1 $1,015,000 $1,015,000 $0 0.00%

    2020 saw Tri-county Bank place emphasis on $100k-200k loans with 160 originations, totaling $23,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 75 $10,445,000 $139,267 $0 0.00%
    $75k-100k 69 $10,715,000 $155,290 $0 0.00%
    $100k-150k 54 $8,910,000 $165,000 $0 0.00%
    $50k or less 51 $4,865,000 $95,392 $0 0.00%
    $150k-250k 32 $6,640,000 $207,500 $0 0.00%
    $250k+ 18 $4,940,000 $274,444 $0 0.00%

    Tri-county Bank lent most frequently to those with incomes in the $50k-75k range, with 75 originations. The second most popular income band? $75k-100k, with 69 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 333 $50,755,000 $152,417 $0 0.00%

    Tri-county Bank lent most frequently to those with DTI ratios of Exempt%, with 333 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 327 $50,125,000 $153,287 $0 0.00%
    Not applicable 5 $455,000 $91,000 $0 0.00%
    Asian Indian 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.69%

    Tri-county Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    99.40%

    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 333 $50,755,000 $152,417

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $205,000 $205,000
    Single Family (1-4 Units):Manufactured 13 $1,215,000 $93,462
    Single Family (1-4 Units):Site-Built 319 $49,335,000 $154,655

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Tri-County Bank 5915 State Street Kingston, MI 48741 Full Service B&M $6,146
    Tri-County Bank 6541 Plaza Drive Marlette, MI 48453 Limited, Drive-thru $0
    Tri-County Bank 4190 Main Street Brown City, MI 48416 Full Service B&M $99,120
    Tri-County Bank 4436 Main Street Brown City, MI 48416 Limited, Drive-thru $0
    Tri-County Bank 2 East Lapeer Road Peck, MI 48466 Full Service B&M $18,930
    Tri-County Bank 209 South Main Street Romeo, MI 48065 Full Service B&M $18,072
    Tri-County Bank 3433 Capac Rd Capac, MI 48014 Limited, Drive-thru $7,872
    Tri-County Bank 3482 South Main Street Marlette, MI 48453 Full Service B&M $27,735
    Tri-County Bank 4511 Van Dyke Road Almont, MI 48003 Full Service B&M $46,181
    Tri-County Bank 6681 Bernie Kohler Drive North Branch, MI 48461 Full Service B&M $19,619
    Tri-County Bank 6730 Newark Road Imlay City, MI 48444 Full Service B&M $35,289
    Tri-County Bank 7514 South Brockway Road Yale, MI 48097 Full Service B&M $52,547

    For 2020, Tri-county Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,909
    Net interest income $15,482
    Total noninterest income $2,915
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $280
    Trading account gains and fees $0
    Additional Noninterest Income $2,635
    Pre-tax net operating income $8,221
    Securities gains (or losses, -) $23
    Income before extraordinary items $6,614
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,614
    Minority interest net income $0
    Net income $6,614
    Sale, conversion, retirement of capital stock, net $321
    Net operating income $6,595

    Tri-county Bank's gross interest income from loans was $16,909,000.
    Tri-county Bank's net interest income from loans was $15,482,000.
    Tri-county Bank's fee based income from loans was $280,000.
    Tri-county Bank's net income from loans was $6,614,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,427
    Provision for credit losses $862
    Total noninterest expense $9,314
    Salaries and employee benefits $5,830
    Premises and equipment expense $1,033
    Additional noninterest expense $2,451
    Applicable income taxes $1,630
    Net charge-offs $466
    Cash dividends $851

    Tri-county Bank's interest expense for loans was $1,427,000.
    Tri-county Bank's payroll and benefits expense were $5,830,000.
    Tri-county Bank's property, plant and equipment expenses $1,033,000.

    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 $358,868
    Deposits held in domestic offices $358,868
    Deposits by Individuals, partnerships, and corporations $325,749
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $33,119
    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 $54,004
    Demand deposits $27,568
    Nontransaction accounts $304,864
    Money market deposit accounts (MMDAs) $10,620
    Other savings deposits (excluding MMDAs) $251,326
    Total time deposits $42,918
    Total time and savings deposits $331,300
    Noninterest-bearing deposits $112,964
    Interest-bearing deposits $245,904
    Retail deposits $354,443
    IRAs and Keogh plan accounts $11,685
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $409,617
    Cash & Balances due from depository institutions $79,620
    Interest-bearing balances $74,499
    Total securities $38,050
    Federal funds sold & reverse repurchase $6,342
    Net loans and leases $263,480
    Loan and leases loss allowance $2,413
    Trading account assets $0
    Bank premises and fixed assets $7,421
    Other real estate owned $0
    Goodwill and other intangibles $1,088
    All other assets $13,616

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $409,617
    Total Liabilities $362,845
    Total deposits $358,868
    Interest-bearing deposits $245,904
    Deposits held in domestic offices $358,868
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,000
    Subordinated debt $0
    All other liabilities $977

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $263,480
    Loan and leases loss allowance $2,413
    Total loans and leases (domestic) $265,893
    All real estate loans $206,054
    Real estate loans in domestic offices $206,054
    Construction and development loans $18,410
    Residential 1-4 family construction $6,131
    Other construction, all land development and other land $12,279
    Loans secured by nonfarm nonresidential properties $97,286
    Nonfarm nonresidential secured by owner-occupied properties $83,161
    Commercial real estate & other non-farm, non-residential $14,125
    Multifamily residential real estate $4,529
    1-4 family residential loans $27,492
    Farmland loans $58,337
    Loans held in foreign offices $0
    Farm loans $14,814
    Commercial and industrial loans $39,931
    To non-U.S. addressees $0
    Loans to individuals $3,892
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,018
    Other loans to individuals $1,874
    All other loans & leases $1,202
    Loans to foreign governments and official institutions $0
    Other loans $11
    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 $154
    Non 1-4 family restructured loans & leases $133
    Total loans and leases (foreign) $0

    Tri-County Bank had $263,480,000 of loans outstanding in 2020. $206,054,000 of loans were in real estate loans. $18,410,000 of loans were in development loans. $4,529,000 of loans were in multifamily mortgage loans. $27,492,000 of loans were in 1-4 family mortgage loans. $14,814,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,018,000 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 $47,622 $224,632
    Nonfarm, nonresidential loans - <$100k 54 $3,078 $57,000
    Nonfarm, nonresidential loans - $100-250k 75 $8,524 $113,653
    Nonfarm, nonresidential loans - $250k-1MM 83 $36,020 $433,976
    Commercial & Industrial, US addressed loans - <$1MM 539 $34,999 $64,933
    Commercial & Industrial, US addressed loans - <$100k 410 $11,093 $27,056
    Commercial & Industrial, US addressed loans - $100-250k 87 $9,929 $114,126
    Commercial & Industrial, US addressed loans - $250k-1MM 42 $13,977 $332,786
    Farmland loans - <$1MM 292 $36,278 $124,240
    Farmland loans - <$100k 110 $4,657 $42,336
    Farmland loans - $100-250k 129 $16,831 $130,473
    Farmland loans - $250k-1MM 53 $14,790 $279,057
    Agriculture operations loans - <$1MM 282 $11,856 $42,043
    Agriculture operations loans - <$100k 244 $5,647 $23,143
    Agriculture operations loans - $100-250k 24 $2,374 $98,917
    Agriculture operations loans - $250k-1MM 14 $3,835 $273,929