Century Bank Mortgage Rates, Fees & Info

Lucedale, MS

LEI: 549300NAIUVHH8SCGC11

Tax ID: 64-0116990

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

Review & Overview

Century Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Century Bank has a high proportion of conventional loans. Their top markets by origination volume include: Mobile, Daphne, Montgomery, Gulfport, and Birmingham among others. We have data for 7 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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

Originations

Origination Dollar Volume (All Markets)

$13,535,000

Employee count

118

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
Outside of Metro Areas	30	$3,660,000	$122,000	$0	0.00%
MOBILE, AL (FHA\|USDA\|VA)	30	$3,360,000	$112,000	$0	0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	7	$2,765,000	$395,000	$0	0.00%
MONTGOMERY, AL (FHA\|USDA\|VA)	1	$1,865,000	$1,865,000	$0	0.00%
GULFPORT-BILOXI, MS (FHA\|USDA\|VA)	11	$1,605,000	$145,909	$0	0.00%
BIRMINGHAM-HOOVER, AL (FHA\|USDA\|VA)	1	$155,000	$155,000	$0	0.00%
HATTIESBURG, MS (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	0.00%

Century Bank's top markets include Mobile, Daphne, Montgomery, Gulfport, and Birmingham among others.

Their top states include:

Alabama (FHA|USDA|VA)

Mississippi (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	81	$13,535,000	$167,099	$0	0.00%

For 2019, Century Bank's most frequently originated type of loan was Conventional, with 81 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	40	$8,080,000	$202,000	$0	0.00%
Cash Out Refi	22	$3,230,000	$146,818	$0	0.00%
Refi	9	$935,000	$103,889	$0	0.00%
Other	8	$910,000	$113,750	$0	0.00%
Home Improvement	2	$380,000	$190,000	$0	0.00%

For 2019, Century Bank's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	81	$13,535,000	$167,099	$0	0.00%

For 2019, Century Bank's most frequently cited loan duration was Other, with 81 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	39	$1,975,000	$50,641	$0	0.00%
$100k-200k	24	$3,330,000	$138,750	$0	0.00%
$200k-400k	14	$4,110,000	$293,571	$0	0.00%
$1MM+	2	$2,970,000	$1,485,000	$0	0.00%
$400k-600k	1	$445,000	$445,000	$0	0.00%
$600k-1MM	1	$705,000	$705,000	$0	0.00%

2019 saw Century Bank place emphasis on $100,000 or less loans with 39 originations, totaling $1,975,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$75k-100k	15	$1,775,000	$118,333	$0	0.00%
$150k-250k	14	$3,400,000	$242,857	$0	0.00%
$50k-75k	11	$1,055,000	$95,909	$0	0.00%
$50k or less	11	$655,000	$59,545	$0	0.00%
$100k-150k	10	$1,420,000	$142,000	$0	0.00%
$250k+	6	$3,610,000	$601,667	$0	0.00%

Century Bank lent most frequently to those with incomes in the $75k-100k range, with 15 originations. The second most popular income band? $150k-250k, with 14 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	81	$13,535,000	$167,099	$0	0.00%

Century Bank lent most frequently to those with DTI ratios of Exempt%, with 81 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	65	$12,065,000	$185,615	$0	0.00%
Not applicable	12	$1,300,000	$108,333	$0	0.00%
Black	3	$125,000	$41,667	$0	0.00%
Not provided	1	$45,000	$45,000	$0	0.00%

Approval Rates

Total approvals of all applications
81.25%

Century Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
72.84%

Century Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	81	$13,535,000	$167,099

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	81	$13,535,000	$167,099

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
CENTERSTATE BANK CORPORATION	Conventional home mortgage	Trouble during payment process	1	50.0%
CENTERSTATE BANK CORPORATION	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	50.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Century Bank	1002 Highway 63 South Lucedale, MS 39452	Full Service B&M	$31,963
Century Bank	127 West I-65 Service Road North Mobile, AL 36608	Full Service B&M	$12,595
Century Bank	4282 Main Street Lucedale, MS 39452	Full Service B&M	$113,280
Century Bank	5370 Hwy 90 West Mobile, AL 36628	Full Service B&M	$16,951
Century Bank	6380 Cottage Hill Road Mobile, AL 36609	Full Service B&M	$7,606
Century Bank	7312 Highway 63 Escatawpa, MS 39552	Full Service B&M	$17,029
Century Bank	7875 Moffett Road Semmes, AL 36575	Full Service B&M	$23,295
Century Bank	861 Edwards Avenue Fairhope, AL 36532	Full Service B&M	$2,742
Century Bank	Highways 613 And 614 Hurley, MS 39555	Full Service B&M	$20,036
Century Bank	Union Church Road And Highway 90 Grand Bay, AL 36541	Full Service B&M	$31,836

For 2019, Century Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$15,023
Net interest income	$12,696
Total noninterest income	$4,091
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,810
Trading account gains and fees	$0
Additional Noninterest Income	$2,281
Pre-tax net operating income	$4,310
Securities gains (or losses, -)	$28
Income before extraordinary items	$3,571
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$3,571
Minority interest net income	$0
Net income	$3,571
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$3,548

Century Bank's gross interest income from loans was $15,023,000.
Century Bank's net interest income from loans was $12,696,000.
Century Bank's fee based income from loans was $1,810,000.
Century Bank's net income from loans was $3,571,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,327
Provision for credit losses	$325
Total noninterest expense	$12,152
Salaries and employee benefits	$5,646
Premises and equipment expense	$1,320
Additional noninterest expense	$5,186
Applicable income taxes	$767
Net charge-offs	$332
Cash dividends	$1,465

Century Bank's interest expense for loans was $2,327,000.
Century Bank's payroll and benefits expense were $5,646,000.
Century Bank's property, plant and equipment expenses $1,320,000.

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	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	$274,400
Deposits held in domestic offices	$274,400
Deposits by Individuals, partnerships, and corporations	$232,603
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$41,796
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	$55,466
Demand deposits	$48,456
Nontransaction accounts	$218,933
Money market deposit accounts (MMDAs)	$15,670
Other savings deposits (excluding MMDAs)	$148,499
Total time deposits	$54,764
Total time and savings deposits	$225,943
Noninterest-bearing deposits	$98,919
Interest-bearing deposits	$175,481
Retail deposits	$259,492
IRAs and Keogh plan accounts	$6,149
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$333,115
Cash & Balances due from depository institutions	$10,029
Interest-bearing balances	$1,384
Total securities	$72,863
Federal funds sold & reverse repurchase	$0
Net loans and leases	$221,262
Loan and leases loss allowance	$3,302
Trading account assets	$0
Bank premises and fixed assets	$14,055
Other real estate owned	$22
Goodwill and other intangibles	$0
All other assets	$14,884

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$333,115
Total Liabilities	$296,816
Total deposits	$274,400
Interest-bearing deposits	$175,481
Deposits held in domestic offices	$274,400
% insured (estimated)	$82
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$17,000
Subordinated debt	$0
All other liabilities	$5,416

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$221,262
Loan and leases loss allowance	$3,302
Total loans and leases (domestic)	$224,564
All real estate loans	$161,879
Real estate loans in domestic offices	$161,879
Construction and development loans	$37,010
Residential 1-4 family construction	$12,362
Other construction, all land development and other land	$24,648
Loans secured by nonfarm nonresidential properties	$57,140
Nonfarm nonresidential secured by owner-occupied properties	$28,277
Commercial real estate & other non-farm, non-residential	$28,863
Multifamily residential real estate	$947
1-4 family residential loans	$49,155
Farmland loans	$17,627
Loans held in foreign offices	$0
Farm loans	$813
Commercial and industrial loans	$22,555
To non-U.S. addressees	$0
Loans to individuals	$38,538
Credit card loans	$882
Related Plans	$335
Consumer Auto Loans	$27,601
Other loans to individuals	$9,720
All other loans & leases	$779
Loans to foreign governments and official institutions	$0
Other loans	$779
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$132
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$2,766
Non 1-4 family restructured loans & leases	$2,766
Total loans and leases (foreign)	$0

Century Bank had $221,262,000 of loans outstanding in 2019. $161,879,000 of loans were in real estate loans. $37,010,000 of loans were in development loans. $947,000 of loans were in multifamily mortgage loans. $49,155,000 of loans were in 1-4 family mortgage loans. $813,000 of loans were in farm loans. $882,000 of loans were in credit card loans. $27,601,000 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	186	$30,267	$162,726
Nonfarm, nonresidential loans - <$100k	35	$1,334	$38,114
Nonfarm, nonresidential loans - $100-250k	82	$9,484	$115,659
Nonfarm, nonresidential loans - $250k-1MM	69	$19,449	$281,870
Commercial & Industrial, US addressed loans - <$1MM	963	$22,494	$23,358
Commercial & Industrial, US addressed loans - <$100k	914	$14,217	$15,555
Commercial & Industrial, US addressed loans - $100-250k	36	$3,882	$107,833
Commercial & Industrial, US addressed loans - $250k-1MM	13	$4,395	$338,077
Farmland loans - <$1MM	226	$15,199	$67,252
Farmland loans - <$100k	179	$7,681	$42,911
Farmland loans - $100-250k	35	$4,037	$115,343
Farmland loans - $250k-1MM	12	$3,481	$290,083
Agriculture operations loans - <$1MM	22	$813	$36,955
Agriculture operations loans - <$100k	21	$463	$22,048
Agriculture operations loans - $250k-1MM	1	$350	$350,000