Century Bank Mortgage Rates, Fees & Info
Lucedale, MSLEI: 549300NAIUVHH8SCGC11
Tax ID: 64-0116990
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Mortgage Data
Bank Data
Review & Overview
Century Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Century Bank has a high proportion of conventional loans. Their top markets by origination volume include: Mobile, Daphne, Gulfport, and Jasper among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Century Bank 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. Century Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.
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Originations
54Origination Dollar Volume (All Markets)
$7,660,000Employee count
112Top 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 |
|---|---|---|---|---|---|
| MOBILE, AL (FHA|USDA|VA) | 30 | $3,320,000 | $110,667 | $1,018 | 5.62% |
| Outside of Metro Areas | 17 | $2,415,000 | $142,059 | $1,944 | 5.53% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $1,210,000 | $605,000 | $527 | 5.07% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 4 | $700,000 | $175,000 | $2,146 | 5.65% |
| Jasper, AL (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $0 | 5.22% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 54 | $7,660,000 | $141,852 | $1,486 | 5.57% |
For 2018, Century Bank's most frequently originated type of loan was Conventional, with 54 originations.
Loan Reason
For 2018, Century Bank's most frequently cited loan purpose was Home Purchase, with 23 originations. The 2nd most popular reason was Refi, with 19 originations.
Loan Duration/Length
For 2018, Century Bank's most frequently cited loan duration was 20 Year, with 11 originations. The 2nd most popular length was 15 Year, with 10 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 17 | $2,015,000 | $118,529 |
| $2k-3k | 3 | $585,000 | $195,000 |
| $1k-2k | 2 | $240,000 | $120,000 |
Century Bank's average total fees were $2,010, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 17 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 5-6% | 33 | $5,615,000 | $170,152 |
| 4-5% | 11 | $1,555,000 | $141,364 |
| 6-7% | 8 | $460,000 | $57,500 |
| 3-4% | 1 | $15,000 | $15,000 |
| 7-8% | 1 | $15,000 | $15,000 |
During 2018, Century Bank's average interest rate for loans was 5.44%, while their most frequently originated rate bucket for loans was 5-6%, with 33 originations.
Loan Sizing
2018 saw Century Bank place emphasis on $100,000 or less loans with 32 originations, totaling $1,590,000 in origination value.
Applicant Income
Century Bank lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $50k or less, with 11 originations.
Applicant Debt to Income Ratio
Century Bank lent most frequently to those with DTI ratios of 30-36%, with 7 originations. The next most common DTI ratio? 36%, with 3 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications75.00%
Century Bank has a below average approval rate.
Pick Rate
Approvals leading to origination66.67%
Century Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 54 | $7,660,000 | $141,852 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CENTRAL BANC MORTGAGE CORPORATION | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Century Bank | 1002 Highway 63 South Lucedale, MS 39452 | Full Service B&M | $28,392 |
| Century Bank | 127 West I-65 Service Road North Mobile, AL 36608 | Full Service B&M | $7,225 |
| Century Bank | 4282 Main Street Lucedale, MS 39452 | Full Service B&M | $99,331 |
| Century Bank | 5370 Hwy 90 West Mobile, AL 36628 | Full Service B&M | $21,843 |
| Century Bank | 6380 Cottage Hill Road Mobile, AL 36609 | Full Service B&M | $7,176 |
| Century Bank | 7312 Highway 63 Escatawpa, MS 39552 | Full Service B&M | $16,619 |
| Century Bank | 7875 Moffett Road Semmes, AL 36575 | Full Service B&M | $19,559 |
| Century Bank | Highways 613 And 614 Hurley, MS 39555 | Full Service B&M | $18,947 |
| Century Bank | Union Church Road And Highway 90 Grand Bay, AL 36541 | Full Service B&M | $31,226 |
For 2018, Century Bank had 9 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $13,808 |
| Net interest income | $12,050 |
| Total noninterest income | $3,809 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,712 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,097 |
| Pre-tax net operating income | $4,429 |
| Securities gains (or losses, -) | $-74 |
| Income before extraordinary items | $3,431 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,431 |
| Minority interest net income | $0 |
| Net income | $3,431 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,489 |
Century Bank's gross interest income from loans was $13,808,000.
Century Bank's net interest income from loans was $12,050,000.
Century Bank's fee based income from loans was $1,712,000.
Century Bank's net income from loans was $3,431,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,758 |
| Provision for credit losses | $498 |
| Total noninterest expense | $10,932 |
| Salaries and employee benefits | $5,282 |
| Premises and equipment expense | $1,460 |
| Additional noninterest expense | $4,190 |
| Applicable income taxes | $924 |
| Net charge-offs | $224 |
| Cash dividends | $1,333 |
Century Bank's interest expense for loans was $1,758,000.
Century Bank's payroll and benefits expense were $5,282,000.
Century Bank's property, plant and equipment expenses $1,460,000.
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 | 1.0% |
| Commercial & industrial loans | 1.0% |
| Personal loans | 1.0% |
| Credit card loans | 0.4% |
| Other individual loans | 1.0% |
| Auto loans | 1.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $256,364 |
| Deposits held in domestic offices | $256,364 |
| Deposits by Individuals, partnerships, and corporations | $224,053 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $32,311 |
| 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 | $48,805 |
| Demand deposits | $44,702 |
| Nontransaction accounts | $207,559 |
| Money market deposit accounts (MMDAs) | $13,034 |
| Other savings deposits (excluding MMDAs) | $132,003 |
| Total time deposits | $62,522 |
| Total time and savings deposits | $211,662 |
| Noninterest-bearing deposits | $88,210 |
| Interest-bearing deposits | $168,154 |
| Retail deposits | $234,909 |
| IRAs and Keogh plan accounts | $6,379 |
| Brokered deposits | $6,000 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $312,996 |
| Cash & Balances due from depository institutions | $9,474 |
| Interest-bearing balances | $1,145 |
| Total securities | $65,532 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $209,267 |
| Loan and leases loss allowance | $3,308 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $13,608 |
| Other real estate owned | $284 |
| Goodwill and other intangibles | $0 |
| All other assets | $14,831 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $312,996 |
| Total Liabilities | $280,405 |
| Total deposits | $256,364 |
| Interest-bearing deposits | $168,154 |
| Deposits held in domestic offices | $256,364 |
| % insured (estimated) | $82 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $18,625 |
| Subordinated debt | $0 |
| All other liabilities | $5,416 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $209,267 |
| Loan and leases loss allowance | $3,308 |
| Total loans and leases (domestic) | $212,575 |
| All real estate loans | $155,444 |
| Real estate loans in domestic offices | $155,444 |
| Construction and development loans | $28,976 |
| Residential 1-4 family construction | $7,218 |
| Other construction, all land development and other land | $21,758 |
| Loans secured by nonfarm nonresidential properties | $63,247 |
| Nonfarm nonresidential secured by owner-occupied properties | $33,405 |
| Commercial real estate & other non-farm, non-residential | $29,842 |
| Multifamily residential real estate | $1,818 |
| 1-4 family residential loans | $45,719 |
| Farmland loans | $15,684 |
| Loans held in foreign offices | $0 |
| Farm loans | $952 |
| Commercial and industrial loans | $20,393 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $35,119 |
| Credit card loans | $912 |
| Related Plans | $304 |
| Consumer Auto Loans | $25,291 |
| Other loans to individuals | $8,612 |
| All other loans & leases | $667 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $667 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $64 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $223 |
| Non 1-4 family restructured loans & leases | $223 |
| Total loans and leases (foreign) | $0 |
Century Bank had $209,267,000 of loans outstanding in 2018. $155,444,000 of loans were in real estate loans. $28,976,000 of loans were in development loans. $1,818,000 of loans were in multifamily mortgage loans. $45,719,000 of loans were in 1-4 family mortgage loans. $952,000 of loans were in farm loans. $912,000 of loans were in credit card loans. $25,291,000 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 | 187 | $33,356 | $178,374 |
| Nonfarm, nonresidential loans - <$100k | 37 | $1,595 | $43,108 |
| Nonfarm, nonresidential loans - $100-250k | 82 | $10,694 | $130,415 |
| Nonfarm, nonresidential loans - $250k-1MM | 68 | $21,067 | $309,809 |
| Commercial & Industrial, US addressed loans - <$1MM | 982 | $20,393 | $20,767 |
| Commercial & Industrial, US addressed loans - <$100k | 944 | $14,597 | $15,463 |
| Commercial & Industrial, US addressed loans - $100-250k | 30 | $3,346 | $111,533 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 8 | $2,450 | $306,250 |
| Farmland loans - <$1MM | 185 | $12,990 | $70,216 |
| Farmland loans - <$100k | 145 | $6,093 | $42,021 |
| Farmland loans - $100-250k | 30 | $3,814 | $127,133 |
| Farmland loans - $250k-1MM | 10 | $3,083 | $308,300 |
| Agriculture operations loans - <$1MM | 23 | $952 | $41,391 |
| Agriculture operations loans - <$100k | 21 | $444 | $21,143 |
| Agriculture operations loans - $100-250k | 1 | $133 | $133,000 |
| Agriculture operations loans - $250k-1MM | 1 | $375 | $375,000 |