Central National Bank Mortgage Rates, Fees & Info

Waco, TX

LEI: 549300QJOGSPJ8EAX798

Tax ID: 74-1892270

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Central National Bank is a smaller bank specializing in Home Purchase loans. Central National Bank has a high proportion of conventional loans. Their top markets include Waco, Killeen, Austin, Houston, and Dallas among others. Central National Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

358

Origination Dollar Volume (All Markets)

$116,490,000

Employee count

89

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
WACO, TX (FHA|USDA|VA) 176 $38,130,000 $216,648 $0 0.00%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 96 $28,300,000 $294,792 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 32 $23,680,000 $740,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 6 $5,420,000 $903,333 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 12 $4,520,000 $376,667 $0 0.00%
Outside of Metro Areas 11 $3,645,000 $331,364 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $0 0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 6 $1,950,000 $325,000 $0 0.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $1,905,000 $1,905,000 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $1,335,000 $1,335,000 $0 0.00%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 3 $975,000 $325,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $750,000 $375,000 $0 0.00%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $670,000 $335,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $565,000 $565,000 $0 0.00%
Kerrville, TX (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
Rockport, TX (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
ABILENE, TX (FHA|USDA|VA) 2 $240,000 $120,000 $0 0.00%
Corsicana, TX (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Jacksonville, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%

Central National Bank's top markets include Waco, Killeen, Austin, Houston, and Dallas among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 354 $115,110,000 $325,169 $0 0.00%
VA 4 $1,380,000 $345,000 $0 0.00%

For the 2021 period, Central National Bank's most frequently originated loan type of loans were Conventional, with 354 originations. Their 2nd most popular type is VA, with 4 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 242 $90,200,000 $372,727 $0 0.00%
Refi 77 $21,935,000 $284,870 $0 0.00%
Home Improvement 27 $2,695,000 $99,815 $0 0.00%
Other 12 $1,660,000 $138,333 $0 0.00%

For the 2021, Central National Bank's most frequently cited loan purpose of loans were Home Purchase, with 242 originations. The 2nd most popular reason of loans were Refi, with 77 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 358 $116,490,000 $325,391 $0 0.00%

For the 2021, Central National Bank's most frequently cited loan length of loans were Other, with 358 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 117 $32,965,000 $281,752 $0 0.00%
$100k-200k 103 $14,985,000 $145,485 $0 0.00%
$100,000 or less 59 $3,635,000 $61,610 $0 0.00%
$400k-600k 43 $21,165,000 $492,209 $0 0.00%
$600k-1MM 21 $15,725,000 $748,810 $0 0.00%
$1MM+ 15 $28,015,000 $1,867,667 $0 0.00%

2021 saw Central National Bank place emphasis on $200k-400k loans with 117 originations, totaling $32,965,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 66 $35,230,000 $533,788 $0 0.00%
$100k-150k 65 $16,625,000 $255,769 $0 0.00%
$150k-250k 56 $15,460,000 $276,071 $0 0.00%
$50k-75k 28 $4,800,000 $171,429 $0 0.00%
$75k-100k 28 $4,770,000 $170,357 $0 0.00%
$50k or less 14 $1,730,000 $123,571 $0 0.00%

Central National Bank lent most frequently to those with incomes in the $250k+ range, with 66 originations. The second most popular income band? $100k-150k, with 65 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 358 $116,490,000 $325,391 $0 0.00%

Central National Bank lent most frequently to those with DTI ratios of Exempt%, with 358 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 243 $73,105,000 $300,844 $0 0.00%
Not applicable 94 $36,440,000 $387,660 $0 0.00%
Not provided 6 $3,310,000 $551,667 $0 0.00%
Black 8 $1,580,000 $197,500 $0 0.00%
Asian 5 $1,065,000 $213,000 $0 0.00%
American Indian 1 $545,000 $545,000 $0 0.00%
Asian Indian 1 $445,000 $445,000 $0 0.00%

Approval Rates

Total approvals of all applications
95.46%

Central National 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
89.79%

Central National Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 358 $116,490,000 $325,391

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
358 $116,490,000 $325,391

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Central National Bank 5400 Bosque Boulevard Waco, TX 76710 Full Service B&M $298,583
Central National Bank 938 Canyon Creek Temple, TX 76502 Full Service B&M $205,948
Central National Bank 8320 West Highway 84 Waco, TX 76710 Full Service B&M $393,651
Central National Bank 835 West 6th Street Austin, TX 78703 Full Service B&M $72,541

For 2021, Central National Bank had 4 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $37,768
Net interest income $33,603
Total noninterest income $3,163
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,024
Trading account gains and fees $0
Additional Noninterest Income $2,139
Pre-tax net operating income $19,094
Securities gains (or losses, -) $-24
Income before extraordinary items $19,070
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $19,070
Minority interest net income $0
Net income $19,070
Sale, conversion, retirement of capital stock, net $0
Net operating income $19,094

Central National Bank's gross interest income from loans was $37,768,000.
Central National Bank's net interest income from loans was $33,603,000.
Central National Bank's fee based income from loans was $1,024,000.
Central National Bank's net income from loans was $19,070,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,165
Provision for credit losses $0
Total noninterest expense $17,672
Salaries and employee benefits $11,004
Premises and equipment expense $1,766
Additional noninterest expense $4,902
Applicable income taxes $0
Net charge-offs $-5
Cash dividends $11,133

Central National Bank's interest expense for loans was $4,165,000.
Central National Bank's payroll and benefits expense were $11,004,000.
Central National Bank's property, plant and equipment expenses $1,766,000.

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 $1,086,882
Deposits held in domestic offices $1,086,882
Deposits by Individuals, partnerships, and corporations $983,911
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $96,350
Deposits by Commercial banks and other depository institutions in U.S. $6,621
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $538,973
Demand deposits $382,357
Nontransaction accounts $547,909
Money market deposit accounts (MMDAs) $355,375
Other savings deposits (excluding MMDAs) $53,578
Total time deposits $138,955
Total time and savings deposits $704,525
Noninterest-bearing deposits $246,242
Interest-bearing deposits $840,640
Retail deposits $1,016,978
IRAs and Keogh plan accounts $11,484
Brokered deposits $5,000
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,287,555
Cash & Balances due from depository institutions $354,168
Interest-bearing balances $237,438
Total securities $145,764
Federal funds sold & reverse repurchase $0
Net loans and leases $776,540
Loan and leases loss allowance $9,992
Trading account assets $0
Bank premises and fixed assets $5,801
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $5,282

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,287,555
Total Liabilities $1,186,773
Total deposits $1,086,882
Interest-bearing deposits $840,640
Deposits held in domestic offices $1,086,882
% insured (estimated) $54
Federal funds purchased and repurchase agreements $66,875
Trading liabilities $0
Other borrowed funds $28,904
Subordinated debt $0
All other liabilities $4,112

Issued Loan Types

Type Value (in 000's)
Net loans and leases $776,540
Loan and leases loss allowance $9,992
Total loans and leases (domestic) $786,532
All real estate loans $649,058
Real estate loans in domestic offices $649,058
Construction and development loans $136,590
Residential 1-4 family construction $70,678
Other construction, all land development and other land $65,912
Loans secured by nonfarm nonresidential properties $197,395
Nonfarm nonresidential secured by owner-occupied properties $62,998
Commercial real estate & other non-farm, non-residential $134,397
Multifamily residential real estate $18,323
1-4 family residential loans $283,478
Farmland loans $13,272
Loans held in foreign offices $0
Farm loans $551
Commercial and industrial loans $122,462
To non-U.S. addressees $0
Loans to individuals $10,085
Credit card loans $0
Related Plans $959
Consumer Auto Loans $2,044
Other loans to individuals $7,082
All other loans & leases $4,463
Loans to foreign governments and official institutions $0
Other loans $977
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 $246
Non 1-4 family restructured loans & leases $53
Total loans and leases (foreign) $0

Central National Bank had $776,540,000 of loans outstanding in 2021. $649,058,000 of loans were in real estate loans. $136,590,000 of loans were in development loans. $18,323,000 of loans were in multifamily mortgage loans. $283,478,000 of loans were in 1-4 family mortgage loans. $551,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,044,000 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 126 $32,305 $256,389
Nonfarm, nonresidential loans - <$100k 27 $1,332 $49,333
Nonfarm, nonresidential loans - $100-250k 31 $3,897 $125,710
Nonfarm, nonresidential loans - $250k-1MM 68 $27,076 $398,176
Commercial & Industrial, US addressed loans - <$1MM 290 $22,521 $77,659
Commercial & Industrial, US addressed loans - <$100k 174 $4,110 $23,621
Commercial & Industrial, US addressed loans - $100-250k 57 $4,932 $86,526
Commercial & Industrial, US addressed loans - $250k-1MM 59 $13,479 $228,458
Farmland loans - <$1MM 12 $1,508 $125,667
Farmland loans - <$100k 3 $162 $54,000
Farmland loans - $100-250k 8 $1,078 $134,750
Farmland loans - $250k-1MM 1 $268 $268,000
Agriculture operations loans - <$1MM 10 $551 $55,100
Agriculture operations loans - <$100k 9 $219 $24,333
Agriculture operations loans - $250k-1MM 1 $332 $332,000