Brannen Bank Mortgage Rates, Fees & Info

Inverness, FL

LEI: 549300VS8Y4N1Y2J0S91

Tax ID: 59-0153930

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Brannen Bank is a smaller bank specializing in Home Purchase loans. Brannen Bank has a high proportion of conventional loans. Their top markets by origination volume include: Homosassa Springs, Tampa, Ocala, Gainesville, and The Villages among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Brannen Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Brannen 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.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.28% 4/21/24
    30 Year Conventional Refi 7.42% 4/21/24
    30 Year Cash-out Refi 7.52% 4/21/24
    15 Year Conventional Purchase 7.79% 4/21/24
    15 Year Conventional Refi 7.33% 4/21/24
    15 Year Cash-out Refi 7.33% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Brannen Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Brannen Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    376

    Origination Dollar Volume (All Markets)

    $61,080,000

    Employee count

    102

    Awards

    Brannen Bank 30 Year Conventional Loans silver
    Show all (1) awards

    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
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 277 $45,005,000 $162,473 $3,230 5.86%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 63 $10,915,000 $173,254 $3,535 5.82%
    OCALA, FL (FHA|USDA|VA) 28 $3,560,000 $127,143 $2,685 5.62%
    GAINESVILLE, FL (FHA|USDA|VA) 4 $960,000 $240,000 $3,187 6.37%
    THE VILLAGES, FL (FHA|USDA|VA) 4 $640,000 $160,000 $2,614 5.31%
    Brannen Bank's top markets include Homosassa Springs, Tampa, Ocala, Gainesville, and The Villages among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Brannen Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    METROPLEX MORTGAGE SERVICES, INC.
    Similarity Rank: 75
    Citizens First Bank
    Similarity Rank: 264
    TrustCo Bank
    Similarity Rank: 624
    VYSTAR
    Similarity Rank: 960
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1056
    SAN ANTONIO CITIZENS
    Similarity Rank: 1105
    FAIRWINDS CREDIT UNION
    Similarity Rank: 1281
    CAMPUS USA
    Similarity Rank: 1363
    Suncoast Credit Union
    Similarity Rank: 1380
    Brannen Bank
    Similarity Rank: 1455

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 376 $61,080,000 $162,447 $3,235 5.84%

    For 2019, Brannen Bank's most frequently originated type of loan was Conventional, with 376 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 257 $48,295,000 $187,918 $3,842 5.77%
    Refi 52 $8,560,000 $164,615 $2,856 6.04%
    Home Improvement 30 $1,360,000 $45,333 $640 6.14%
    Other 30 $1,960,000 $65,333 $1,540 6.11%
    Cash Out Refi 7 $905,000 $129,286 $2,874 4.32%

    For 2019, Brannen Bank's most frequently cited loan purpose was Home Purchase, with 257 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 115 $22,195,000 $193,000 $3,433 5.53%
    15 Year 90 $7,640,000 $84,889 $1,684 6.02%
    30+ year 72 $17,550,000 $243,750 $4,985 5.84%
    Other 48 $8,730,000 $181,875 $3,887 5.75%
    20 Year 31 $4,005,000 $129,194 $3,141 6.07%
    10 Year 16 $590,000 $36,875 $922 6.67%
    3 Year 2 $200,000 $100,000 $2,426 5.58%
    5 Year 2 $170,000 $85,000 $300 7.12%

    For 2019, Brannen Bank's most frequently cited loan duration was 30 Year, with 115 originations. The 2nd most popular length was 15 Year, with 90 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 168 $30,170,000 $179,583
    $<1k 163 $20,655,000 $126,718
    $2k-3k 19 $4,595,000 $241,842
    $3k-4k 1 $395,000 $395,000

    Brannen Bank's average total fees were $3,433, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 168 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 198 $29,740,000 $150,202
    6-7% 86 $16,110,000 $187,326
    4-5% 45 $9,495,000 $211,000
    7-8% 21 $2,635,000 $125,476
    3-4% 14 $2,470,000 $176,429
    Over 8% 12 $630,000 $52,500

    During 2019, Brannen Bank's average interest rate for loans was 5.53%, while their most frequently originated rate bucket for loans was 5-6%, with 198 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 129 $7,125,000 $55,233 $1,740 6.21%
    $100k-200k 126 $17,810,000 $141,349 $3,576 5.64%
    $200k-400k 108 $28,910,000 $267,685 $4,450 5.64%
    $400k-600k 7 $3,235,000 $462,143 $5,363 5.60%
    $600k-1MM 6 $4,000,000 $666,667 $6,034 5.78%

    2019 saw Brannen Bank place emphasis on $100,000 or less loans with 129 originations, totaling $7,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 108 $9,420,000 $87,222 $2,319 6.07%
    $50k-75k 84 $11,240,000 $133,810 $3,293 5.83%
    $100k-150k 66 $14,030,000 $212,576 $3,828 5.60%
    $75k-100k 49 $9,345,000 $190,714 $3,667 5.81%
    $150k-250k 28 $6,590,000 $235,357 $3,894 5.61%
    $250k+ 13 $4,685,000 $360,385 $4,593 5.73%

    Brannen Bank lent most frequently to those with incomes in the $50k or less range, with 108 originations. The second most popular income band? $50k-75k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 66 $9,680,000 $146,667 $2,853 5.52%
    30-36% 50 $7,380,000 $147,600 $3,318 5.89%
    >60% 45 $7,845,000 $174,333 $3,468 6.07%
    50-60% 37 $5,905,000 $159,595 $3,408 6.18%
    <20% 20 $3,550,000 $177,500 $3,490 5.52%
    39% 15 $2,885,000 $192,333 $3,701 5.73%
    41% 15 $2,275,000 $151,667 $3,372 5.78%
    37% 12 $1,290,000 $107,500 $2,596 5.52%
    48% 12 $2,150,000 $179,167 $3,663 5.54%
    42% 12 $1,840,000 $153,333 $3,429 5.96%
    44% 11 $1,155,000 $105,000 $2,811 5.69%
    40% 10 $1,950,000 $195,000 $2,703 6.05%
    43% 9 $1,045,000 $116,111 $2,355 5.84%
    38% 9 $1,445,000 $160,556 $3,327 6.08%
    47% 9 $995,000 $110,556 $2,624 5.96%
    46% 7 $1,545,000 $220,714 $4,269 5.99%
    49% 6 $1,030,000 $171,667 $3,330 5.83%
    45% 5 $1,515,000 $303,000 $4,982 6.20%
    36% 4 $730,000 $182,500 $2,511 5.62%

    Brannen Bank lent most frequently to those with DTI ratios of 20-30%, with 66 originations. The next most common DTI ratio? 30-36%, with 50 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 345 $54,045,000 $156,652 $3,226 5.83%
    Not applicable 22 $4,870,000 $221,364 $0 6.00%
    Not provided 3 $795,000 $265,000 $4,577 4.46%
    Asian 2 $790,000 $395,000 $2,843 6.37%
    Black 2 $320,000 $160,000 $3,966 6.49%
    Asian Indian 1 $225,000 $225,000 $4,262 5.74%
    American Indian 1 $35,000 $35,000 $375 5.65%

    Approval Rates

    Total approvals of all applications
    92.22%

    Brannen Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.44%

    Brannen Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 376 $61,080,000 $162,447

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,110,000 $555,000
    Single Family (1-4 Units):Manufactured 15 $755,000 $50,333
    Single Family (1-4 Units):Site-Built 359 $59,215,000 $164,944

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $2,070,000 $51,750 $1,275 6.10%
    40-60% 65 $7,435,000 $114,385 $3,020 6.08%
    60-80% 166 $34,190,000 $205,964 $3,936 5.70%
    80-100% 79 $15,975,000 $202,215 $3,832 5.73%
    Over 100% 1 $155,000 $155,000 $0 6.25%
    Under 20% 25 $1,255,000 $50,200 $713 6.02%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Brian McCaffrey, Attorney At Law Conventional home mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Brannen Bank 200 West Main Street Inverness, FL 34450 Full Service B&M $19,407
    Brannen Bank 1187 South Broad Street Brooksville, FL 34601 Full Service B&M $45,717
    Brannen Bank 14300 Cortez Boulevard Brooksville, FL 34613 Full Service B&M $20,797
    Brannen Bank 2519 East Florida Avenue Hernando, FL 34442 Full Service B&M $25,658
    Brannen Bank 320 Highway 41 South Inverness, FL 34450 Full Service B&M $142,296
    Brannen Bank 3930 North Lecanto Highway Beverly Hills, FL 34465 Full Service B&M $24,756
    Brannen Bank 401 North Central Avenue Inverness, FL 34453 Full Service B&M $17,668
    Brannen Bank 4325 South Suncoast Boulevard Homosassa, FL 34446 Full Service B&M $66,635
    Brannen Bank 6901 West Gulf-To-Lake Highway Crystal River, FL 34429 Limited, Drive-thru $2,776
    Brannen Bank 7478 S. Florida Ave. Floral City, FL 34436 Full Service B&M $18,352
    Brannen Bank 865 Ne Ushy 19 Crystal River, FL 34429 Full Service B&M $46,506
    Brannen Bank U.S. Highway 41 North Dunnellon, FL 34432 Full Service B&M $68,203

    For 2019, Brannen Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,362
    Net interest income $20,096
    Total noninterest income $2,532
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $621
    Trading account gains and fees $0
    Additional Noninterest Income $1,911
    Pre-tax net operating income $10,365
    Securities gains (or losses, -) $201
    Income before extraordinary items $10,566
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,566
    Minority interest net income $0
    Net income $10,566
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,365

    Brannen Bank's gross interest income from loans was $21,362,000.
    Brannen Bank's net interest income from loans was $20,096,000.
    Brannen Bank's fee based income from loans was $621,000.
    Brannen Bank's net income from loans was $10,566,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,266
    Provision for credit losses $84
    Total noninterest expense $12,179
    Salaries and employee benefits $5,917
    Premises and equipment expense $1,233
    Additional noninterest expense $5,029
    Applicable income taxes $0
    Net charge-offs $-18
    Cash dividends $9,550

    Brannen Bank's interest expense for loans was $1,266,000.
    Brannen Bank's payroll and benefits expense were $5,917,000.
    Brannen Bank's property, plant and equipment expenses $1,233,000.

    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 1.0%
    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 $508,339
    Deposits held in domestic offices $508,339
    Deposits by Individuals, partnerships, and corporations $485,103
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $23,236
    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 $239,004
    Demand deposits $145,629
    Nontransaction accounts $269,335
    Money market deposit accounts (MMDAs) $91,567
    Other savings deposits (excluding MMDAs) $104,327
    Total time deposits $73,441
    Total time and savings deposits $362,710
    Noninterest-bearing deposits $145,629
    Interest-bearing deposits $362,710
    Retail deposits $489,831
    IRAs and Keogh plan accounts $11,182
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $542,405
    Cash & Balances due from depository institutions $96,960
    Interest-bearing balances $92,813
    Total securities $138,426
    Federal funds sold & reverse repurchase $0
    Net loans and leases $299,954
    Loan and leases loss allowance $3,242
    Trading account assets $0
    Bank premises and fixed assets $4,577
    Other real estate owned $192
    Goodwill and other intangibles $0
    All other assets $2,296

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $542,405
    Total Liabilities $508,711
    Total deposits $508,339
    Interest-bearing deposits $362,710
    Deposits held in domestic offices $508,339
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $372

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $299,954
    Loan and leases loss allowance $3,242
    Total loans and leases (domestic) $303,196
    All real estate loans $295,830
    Real estate loans in domestic offices $295,830
    Construction and development loans $15,587
    Residential 1-4 family construction $13,374
    Other construction, all land development and other land $2,213
    Loans secured by nonfarm nonresidential properties $48,104
    Nonfarm nonresidential secured by owner-occupied properties $14,626
    Commercial real estate & other non-farm, non-residential $33,478
    Multifamily residential real estate $2,049
    1-4 family residential loans $229,992
    Farmland loans $98
    Loans held in foreign offices $0
    Farm loans $186
    Commercial and industrial loans $1,511
    To non-U.S. addressees $0
    Loans to individuals $5,867
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $779
    Other loans to individuals $5,088
    All other loans & leases $18
    Loans to foreign governments and official institutions $0
    Other loans $18
    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 $2,265
    Non 1-4 family restructured loans & leases $656
    Total loans and leases (foreign) $0

    Brannen Bank had $299,954,000 of loans outstanding in 2019. $295,830,000 of loans were in real estate loans. $15,587,000 of loans were in development loans. $2,049,000 of loans were in multifamily mortgage loans. $229,992,000 of loans were in 1-4 family mortgage loans. $186,000 of loans were in farm loans. $0 of loans were in credit card loans. $779,000 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 143 $30,153 $210,860
    Nonfarm, nonresidential loans - <$100k 31 $1,118 $36,065
    Nonfarm, nonresidential loans - $100-250k 50 $5,779 $115,580
    Nonfarm, nonresidential loans - $250k-1MM 62 $23,256 $375,097
    Commercial & Industrial, US addressed loans - <$1MM 26 $1,510 $58,077
    Commercial & Industrial, US addressed loans - <$100k 22 $431 $19,591
    Commercial & Industrial, US addressed loans - $100-250k 3 $504 $168,000
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $575 $575,000
    Farmland loans - <$1MM 1 $98 $98,000
    Farmland loans - <$100k 1 $98 $98,000
    Agriculture operations loans - <$1MM 1 $186 $186,000
    Agriculture operations loans - $100-250k 1 $186 $186,000