Tri-county Bank Mortgage Rates, Fees & Info

Brown City, MI

LEI: 549300KNV94E4Y2HSK54

Tax ID: 38-0377226

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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, Refi, and Cash Out Refi loans. Tri-county Bank has a high proportion of conventional loans. Their top markets by origination volume include: Detroit, Grand Rapids, Traverse City, Miami, and Orlando among others. We have data for 10 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

    247

    Origination Dollar Volume (All Markets)

    $44,585,000

    Employee count

    85

    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) 144 $29,870,000 $207,431 $0 0.00%
    Outside of Metro Areas 94 $12,580,000 $133,830 $0 0.00%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $630,000 $315,000 $0 0.00%
    Traverse City, MI (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    FLINT, MI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    FORT WAYNE, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    SAGINAW, MI (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Tri-county Bank's top markets include Detroit, Grand Rapids, Traverse City, Miami, and Orlando among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 247 $44,585,000 $180,506 $0 0.00%

    For 2021, Tri-county Bank's most frequently originated type of loan was Conventional, with 247 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 94 $19,560,000 $208,085 $0 0.00%
    Refi 78 $14,050,000 $180,128 $0 0.00%
    Cash Out Refi 66 $10,000,000 $151,515 $0 0.00%
    Home Improvement 7 $565,000 $80,714 $0 0.00%
    Other 2 $410,000 $205,000 $0 0.00%

    For 2021, Tri-county Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 247 $44,585,000 $180,506 $0 0.00%

    For 2021, Tri-county Bank's most frequently cited loan duration was Other, with 247 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 96 $13,940,000 $145,208 $0 0.00%
    $100,000 or less 82 $5,240,000 $63,902 $0 0.00%
    $200k-400k 50 $13,720,000 $274,400 $0 0.00%
    $400k-600k 14 $6,870,000 $490,714 $0 0.00%
    $1MM+ 3 $3,395,000 $1,131,667 $0 0.00%
    $600k-1MM 2 $1,420,000 $710,000 $0 0.00%

    2021 saw Tri-county Bank place emphasis on $100k-200k loans with 96 originations, totaling $13,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 59 $5,295,000 $89,746 $0 0.00%
    $75k-100k 44 $5,800,000 $131,818 $0 0.00%
    $50k-75k 41 $6,675,000 $162,805 $0 0.00%
    $100k-150k 38 $7,190,000 $189,211 $0 0.00%
    $150k-250k 23 $6,005,000 $261,087 $0 0.00%
    $250k+ 14 $5,270,000 $376,429 $0 0.00%

    Tri-county Bank lent most frequently to those with incomes in the $50k or less range, with 59 originations. The second most popular income band? $75k-100k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 247 $44,585,000 $180,506 $0 0.00%

    Tri-county Bank lent most frequently to those with DTI ratios of Exempt%, with 247 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 227 $37,215,000 $163,943 $0 0.00%
    Not applicable 18 $7,060,000 $392,222 $0 0.00%
    American Indian 1 $215,000 $215,000 $0 0.00%
    Black 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.30%

    Tri-county Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.98%

    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 247 $44,585,000 $180,506

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    247 $44,585,000 $180,506

    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 $22,658
    Tri-County Bank 209 South Main Street Romeo, MI 48065 Full Service B&M $32,741
    Tri-County Bank 3433 Capac Rd Capac, MI 48014 Limited, Drive-thru $10,590
    Tri-County Bank 3482 South Main Street Marlette, MI 48453 Full Service B&M $29,563
    Tri-County Bank 4190 Main Street Brown City, MI 48416 Full Service B&M $113,990
    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 $50,825
    Tri-County Bank 5915 State Street Kingston, MI 48741 Full Service B&M $7,647
    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 $26,827
    Tri-County Bank 6730 Newark Road Imlay City, MI 48444 Full Service B&M $43,366
    Tri-County Bank 7514 South Brockway Road Yale, MI 48097 Full Service B&M $67,538

    For 2021, Tri-county Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,304
    Net interest income $17,297
    Total noninterest income $3,035
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $276
    Trading account gains and fees $0
    Additional Noninterest Income $2,759
    Pre-tax net operating income $10,211
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,162
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,162
    Minority interest net income $0
    Net income $8,162
    Sale, conversion, retirement of capital stock, net $326
    Net operating income $8,162

    Tri-county Bank's gross interest income from loans was $18,304,000.
    Tri-county Bank's net interest income from loans was $17,297,000.
    Tri-county Bank's fee based income from loans was $276,000.
    Tri-county Bank's net income from loans was $8,162,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,007
    Provision for credit losses $331
    Total noninterest expense $9,790
    Salaries and employee benefits $6,077
    Premises and equipment expense $1,006
    Additional noninterest expense $2,707
    Applicable income taxes $2,049
    Net charge-offs $-83
    Cash dividends $1,036

    Tri-county Bank's interest expense for loans was $1,007,000.
    Tri-county Bank's payroll and benefits expense were $6,077,000.
    Tri-county Bank's property, plant and equipment expenses $1,006,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $415,383
    Deposits held in domestic offices $415,383
    Deposits by Individuals, partnerships, and corporations $382,038
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $33,345
    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 $60,127
    Demand deposits $25,535
    Nontransaction accounts $355,256
    Money market deposit accounts (MMDAs) $12,711
    Other savings deposits (excluding MMDAs) $299,985
    Total time deposits $42,560
    Total time and savings deposits $389,848
    Noninterest-bearing deposits $124,114
    Interest-bearing deposits $291,269
    Retail deposits $411,535
    IRAs and Keogh plan accounts $11,809
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $468,307
    Cash & Balances due from depository institutions $50,723
    Interest-bearing balances $46,122
    Total securities $136,887
    Federal funds sold & reverse repurchase $1,871
    Net loans and leases $256,165
    Loan and leases loss allowance $2,827
    Trading account assets $0
    Bank premises and fixed assets $7,155
    Other real estate owned $0
    Goodwill and other intangibles $1,094
    All other assets $14,412

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $468,307
    Total Liabilities $415,708
    Total deposits $415,383
    Interest-bearing deposits $291,269
    Deposits held in domestic offices $415,383
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $325

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $256,165
    Loan and leases loss allowance $2,827
    Total loans and leases (domestic) $258,992
    All real estate loans $211,414
    Real estate loans in domestic offices $211,414
    Construction and development loans $14,684
    Residential 1-4 family construction $4,027
    Other construction, all land development and other land $10,657
    Loans secured by nonfarm nonresidential properties $101,164
    Nonfarm nonresidential secured by owner-occupied properties $89,919
    Commercial real estate & other non-farm, non-residential $11,245
    Multifamily residential real estate $7,179
    1-4 family residential loans $25,267
    Farmland loans $63,120
    Loans held in foreign offices $0
    Farm loans $11,503
    Commercial and industrial loans $31,345
    To non-U.S. addressees $0
    Loans to individuals $3,510
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,636
    Other loans to individuals $1,874
    All other loans & leases $1,220
    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 $61
    Non 1-4 family restructured loans & leases $61
    Total loans and leases (foreign) $0

    Tri-County Bank had $256,165,000 of loans outstanding in 2021. $211,414,000 of loans were in real estate loans. $14,684,000 of loans were in development loans. $7,179,000 of loans were in multifamily mortgage loans. $25,267,000 of loans were in 1-4 family mortgage loans. $11,503,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,636,000 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 221 $50,860 $230,136
    Nonfarm, nonresidential loans - <$100k 50 $2,744 $54,880
    Nonfarm, nonresidential loans - $100-250k 74 $8,855 $119,662
    Nonfarm, nonresidential loans - $250k-1MM 97 $39,261 $404,753
    Commercial & Industrial, US addressed loans - <$1MM 346 $26,549 $76,731
    Commercial & Industrial, US addressed loans - <$100k 258 $7,304 $28,310
    Commercial & Industrial, US addressed loans - $100-250k 56 $6,143 $109,696
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $13,102 $409,438
    Farmland loans - <$1MM 260 $34,234 $131,669
    Farmland loans - <$100k 91 $3,997 $43,923
    Farmland loans - $100-250k 119 $16,324 $137,176
    Farmland loans - $250k-1MM 50 $13,913 $278,260
    Agriculture operations loans - <$1MM 225 $9,611 $42,716
    Agriculture operations loans - <$100k 195 $4,809 $24,662
    Agriculture operations loans - $100-250k 18 $1,839 $102,167
    Agriculture operations loans - $250k-1MM 12 $2,963 $246,917