Centennial Bank Mortgage Rates, Fees & Info

Lubbock, TX

LEI: 549300OGJROUXCRSM996

Tax ID: 75-0313320

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

Review & Overview

Centennial Bank is a smaller bank specializing in Home Purchase loans. Centennial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Austin, San Antonio, Lubbock, Fredericksburg, and Kerrville among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

Centennial 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.

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Originations

176

Origination Dollar Volume (All Markets)

$53,880,000

Employee count

160

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
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA\|USDA\|VA)	28	$16,880,000	$602,857	$0	0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA\|USDA\|VA)	20	$9,640,000	$482,000	$0	0.00%
LUBBOCK, TX (FHA\|USDA\|VA)	55	$9,275,000	$168,636	$0	0.00%
Fredericksburg, TX (FHA\|USDA\|VA)	14	$6,300,000	$450,000	$0	0.00%
Outside of Metro Areas	17	$5,345,000	$314,412	$0	0.00%
Kerrville, TX (FHA\|USDA\|VA)	9	$1,605,000	$178,333	$0	0.00%
Breckenridge, CO (FHA\|USDA\|VA)	1	$985,000	$985,000	$0	0.00%
Lamesa, TX (FHA\|USDA\|VA)	10	$770,000	$77,000	$0	0.00%
Hobbs, NM (FHA\|USDA\|VA)	6	$760,000	$126,667	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$705,000	$705,000	$0	0.00%
Plainview, TX (FHA\|USDA\|VA)	10	$700,000	$70,000	$0	0.00%
CORPUS CHRISTI, TX (FHA\|USDA\|VA)	2	$440,000	$220,000	$0	0.00%
AMARILLO, TX (FHA\|USDA\|VA)	1	$375,000	$375,000	$0	0.00%
Snyder, TX (FHA\|USDA\|VA)	2	$100,000	$50,000	$0	0.00%

Centennial Bank's top markets include Austin, San Antonio, Lubbock, Fredericksburg, and Kerrville among others.

Their top states include:

Texas (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

New Mexico (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	176	$53,880,000	$306,136	$0	0.00%

For 2019, Centennial Bank's most frequently originated type of loan was Conventional, with 176 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	136	$43,830,000	$322,279	$0	0.00%
Cash Out Refi	13	$4,275,000	$328,846	$0	0.00%
Home Improvement	11	$945,000	$85,909	$0	0.00%
Other	9	$1,855,000	$206,111	$0	0.00%
Refi	7	$2,975,000	$425,000	$0	0.00%

For 2019, Centennial Bank's most frequently cited loan purpose was Home Purchase, with 136 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	176	$53,880,000	$306,136	$0	0.00%

For 2019, Centennial Bank's most frequently cited loan duration was Other, with 176 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	56	$3,350,000	$59,821	$0	0.00%
$100k-200k	41	$5,735,000	$139,878	$0	0.00%
$200k-400k	36	$10,770,000	$299,167	$0	0.00%
$400k-600k	19	$9,465,000	$498,158	$0	0.00%
$600k-1MM	17	$13,075,000	$769,118	$0	0.00%
$1MM+	7	$11,485,000	$1,640,714	$0	0.00%

2019 saw Centennial Bank place emphasis on $100,000 or less loans with 56 originations, totaling $3,350,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	28	$18,030,000	$643,929	$0	0.00%
$150k-250k	24	$8,720,000	$363,333	$0	0.00%
$100k-150k	20	$4,380,000	$219,000	$0	0.00%
$50k-75k	11	$1,455,000	$132,273	$0	0.00%
$75k-100k	10	$2,360,000	$236,000	$0	0.00%
$50k or less	3	$315,000	$105,000	$0	0.00%

Centennial Bank lent most frequently to those with incomes in the $250k+ range, with 28 originations. The second most popular income band? $150k-250k, with 24 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	176	$53,880,000	$306,136	$0	0.00%

Centennial Bank lent most frequently to those with DTI ratios of Exempt%, with 176 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not provided	40	$20,560,000	$514,000	$0	0.00%
Not applicable	80	$18,620,000	$232,750	$0	0.00%
White	55	$14,495,000	$263,545	$0	0.00%
American Indian	1	$205,000	$205,000	$0	0.00%

Approval Rates

Total approvals of all applications
83.60%

Centennial Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
81.25%

Centennial Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	176	$53,880,000	$306,136

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	8	$7,340,000	$917,500
Single Family (1-4 Units):Manufactured	5	$445,000	$89,000
Single Family (1-4 Units):Site-Built	163	$46,095,000	$282,791

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Centennial Bank	125 South Austin Street Tulia, TX 79088	Full Service B&M	$76,244
Centennial Bank	103 Texas Avenue Slaton, TX 79364	Full Service B&M	$49,085
Centennial Bank	1145 Junction Highway Kerrville, TX 78028	Full Service B&M	$174,016
Centennial Bank	1322 River Terrace New Braunfels, TX 78130	Full Service B&M	$8,696
Centennial Bank	1689 River Road Boerne, TX 78006	Full Service B&M	$22,448
Centennial Bank	210 North Broadway Post, TX 79356	Full Service B&M	$36,749
Centennial Bank	3201 Olton Road Plainview, TX 79072	Full Service B&M	$186,815
Centennial Bank	424 Broadway Hart, TX 79043	Full Service B&M	$26,996
Centennial Bank	6602 Quaker Avenue Lubbock, TX 79413	Full Service B&M	$45,320
Centennial Bank	710 South Adams St Fredericksburg, TX 78624	Full Service B&M	$34,183
Centennial Bank	7207 82nd Street Lubbock, TX 79424	Full Service B&M	$9,822
Centennial Bank	901 South Mopac Expressway, Building Two, Suite 525 Austin, TX 78746	Full Service B&M	$7,673
Centennial Bank	904 Avenue O Lubbock, TX 79401	Full Service B&M	$1,332

For 2019, Centennial Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$37,227
Net interest income	$30,709
Total noninterest income	$3,988
Gross Fiduciary activities income	$969
Service charges on deposit accounts	$1,382
Trading account gains and fees	$0
Additional Noninterest Income	$1,637
Pre-tax net operating income	$8,583
Securities gains (or losses, -)	$1,296
Income before extraordinary items	$9,879
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$9,879
Minority interest net income	$0
Net income	$9,879
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$8,583

Centennial Bank's gross interest income from loans was $37,227,000.
Centennial Bank's net interest income from loans was $30,709,000.
Centennial Bank's fee based income from loans was $1,382,000.
Centennial Bank's net income from loans was $9,879,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$6,518
Provision for credit losses	$492
Total noninterest expense	$25,622
Salaries and employee benefits	$13,990
Premises and equipment expense	$4,103
Additional noninterest expense	$7,529
Applicable income taxes	$0
Net charge-offs	$2
Cash dividends	$6,400

Centennial Bank's interest expense for loans was $6,518,000.
Centennial Bank's payroll and benefits expense were $13,990,000.
Centennial Bank's property, plant and equipment expenses $4,103,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
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	2.0%
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	$698,797
Deposits held in domestic offices	$698,797
Deposits by Individuals, partnerships, and corporations	$590,708
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$107,226
Deposits by Commercial banks and other depository institutions in U.S.	$863
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$67,836
Demand deposits	$46,197
Nontransaction accounts	$630,961
Money market deposit accounts (MMDAs)	$38,592
Other savings deposits (excluding MMDAs)	$446,763
Total time deposits	$145,606
Total time and savings deposits	$652,600
Noninterest-bearing deposits	$209,795
Interest-bearing deposits	$489,002
Retail deposits	$635,259
IRAs and Keogh plan accounts	$12,003
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$786,625
Cash & Balances due from depository institutions	$30,993
Interest-bearing balances	$15,538
Total securities	$110,439
Federal funds sold & reverse repurchase	$0
Net loans and leases	$591,893
Loan and leases loss allowance	$6,937
Trading account assets	$0
Bank premises and fixed assets	$31,889
Other real estate owned	$0
Goodwill and other intangibles	$90
All other assets	$21,321

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$786,625
Total Liabilities	$703,178
Total deposits	$698,797
Interest-bearing deposits	$489,002
Deposits held in domestic offices	$698,797
% insured (estimated)	$68
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$4,381

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$591,893
Loan and leases loss allowance	$6,937
Total loans and leases (domestic)	$598,830
All real estate loans	$488,612
Real estate loans in domestic offices	$488,612
Construction and development loans	$72,285
Residential 1-4 family construction	$15,184
Other construction, all land development and other land	$57,101
Loans secured by nonfarm nonresidential properties	$260,097
Nonfarm nonresidential secured by owner-occupied properties	$135,946
Commercial real estate & other non-farm, non-residential	$124,151
Multifamily residential real estate	$13,745
1-4 family residential loans	$104,928
Farmland loans	$37,557
Loans held in foreign offices	$0
Farm loans	$46,136
Commercial and industrial loans	$53,725
To non-U.S. addressees	$0
Loans to individuals	$7,019
Credit card loans	$0
Related Plans	$482
Consumer Auto Loans	$1,536
Other loans to individuals	$5,001
All other loans & leases	$3,339
Loans to foreign governments and official institutions	$0
Other loans	$105
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	$163
Non 1-4 family restructured loans & leases	$146
Total loans and leases (foreign)	$0

Centennial Bank had $591,893,000 of loans outstanding in 2019. $488,612,000 of loans were in real estate loans. $72,285,000 of loans were in development loans. $13,745,000 of loans were in multifamily mortgage loans. $104,928,000 of loans were in 1-4 family mortgage loans. $46,136,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,536,000 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	173	$50,975	$294,653
Nonfarm, nonresidential loans - <$100k	29	$1,189	$41,000
Nonfarm, nonresidential loans - $100-250k	41	$5,423	$132,268
Nonfarm, nonresidential loans - $250k-1MM	103	$44,363	$430,709
Commercial & Industrial, US addressed loans - <$1MM	342	$26,871	$78,570
Commercial & Industrial, US addressed loans - <$100k	216	$5,520	$25,556
Commercial & Industrial, US addressed loans - $100-250k	71	$6,357	$89,535
Commercial & Industrial, US addressed loans - $250k-1MM	55	$14,994	$272,618
Farmland loans - <$1MM	71	$8,035	$113,169
Farmland loans - <$100k	35	$1,086	$31,029
Farmland loans - $100-250k	23	$2,890	$125,652
Farmland loans - $250k-1MM	13	$4,059	$312,231
Agriculture operations loans - <$1MM	85	$5,268	$61,976
Agriculture operations loans - <$100k	43	$1,143	$26,581
Agriculture operations loans - $100-250k	27	$2,179	$80,704
Agriculture operations loans - $250k-1MM	15	$1,946	$129,733