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

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, The Villages, and Jacksonville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Brannen 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. 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 about average 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.

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.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	7.28%	12/16/24
30 Year Conventional Refi	7.42%	12/16/24
30 Year Cash-out Refi	7.52%	12/16/24
15 Year Conventional Purchase	7.79%	12/16/24
15 Year Conventional Refi	7.33%	12/16/24
15 Year Cash-out Refi	7.33%	12/16/24
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

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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

437

Origination Dollar Volume (All Markets)

$92,315,000

Employee count

Awards

Brannen Bank 30 Year Conventional Loans bronze

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)	304	$63,050,000	$207,401	$3,942	4.64%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	97	$19,905,000	$205,206	$4,178	4.48%
OCALA, FL (FHA\|USDA\|VA)	27	$7,545,000	$279,444	$4,872	4.53%
THE VILLAGES, FL (FHA\|USDA\|VA)	4	$530,000	$132,500	$4,120	4.81%
JACKSONVILLE, FL (FHA\|USDA\|VA)	1	$485,000	$485,000	$5,463	2.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$235,000	$235,000	$2,842	3.50%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$3,467	4.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$205,000	$205,000	$5,022	3.99%
GAINESVILLE, FL (FHA\|USDA\|VA)	1	$135,000	$135,000	$5,369	3.75%

Brannen Bank's top markets include Homosassa Springs, Tampa, Ocala, The Villages, and Jacksonville 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.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	437	$92,315,000	$211,247	$4,062	4.59%

For 2020, Brannen Bank's most frequently originated type of loan was Conventional, with 437 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	290	$69,290,000	$238,931	$4,547	4.61%
Refi	84	$15,350,000	$182,738	$3,457	4.37%
Cash Out Refi	26	$4,410,000	$169,615	$4,165	3.50%
Home Improvement	22	$1,350,000	$61,364	$1,310	5.85%
Other	15	$1,915,000	$127,667	$2,584	5.48%

For 2020, Brannen Bank's most frequently cited loan purpose was Home Purchase, with 290 originations. The 2nd most popular reason was Refi, with 84 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	167	$35,925,000	$215,120	$4,051	4.04%
30+ year	113	$28,895,000	$255,708	$5,022	4.60%
15 Year	74	$11,270,000	$152,297	$2,797	5.20%
20 Year	37	$8,175,000	$220,946	$4,406	4.45%
Other	34	$7,590,000	$223,235	$4,245	5.27%
10 Year	8	$390,000	$48,750	$1,494	6.79%
3 Year	2	$30,000	$15,000	$300	6.65%
5 Year	2	$40,000	$20,000	$300	7.57%

For 2020, Brannen Bank's most frequently cited loan duration was 30 Year, with 167 originations. The 2nd most popular length was 30+ year, with 113 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	315	$69,635,000	$221,063
$<1k	36	$1,370,000	$38,056
$2k-3k	30	$5,880,000	$196,000
$3k-4k	7	$2,485,000	$355,000
$4k-5k	1	$485,000	$485,000
$5k+	1	$295,000	$295,000

Brannen Bank's average total fees were $4,051, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 315 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	147	$34,085,000	$231,871
3-4%	145	$35,715,000	$246,310
5-6%	72	$12,560,000	$174,444
2.5-3%	38	$7,170,000	$188,684
6-7%	15	$1,605,000	$107,000
Over 8%	9	$285,000	$31,667
7-8%	9	$545,000	$60,556
<2.5%	2	$350,000	$175,000

During 2020, Brannen Bank's average interest rate for loans was 4.04%, while their most frequently originated rate bucket for loans was 4-5%, with 147 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	153	$22,785,000	$148,922	$3,927	4.43%
$200k-400k	138	$36,880,000	$267,246	$4,734	4.19%
$100,000 or less	102	$6,100,000	$59,804	$2,345	5.42%
$400k-600k	29	$13,675,000	$471,552	$5,882	4.37%
$600k-1MM	12	$8,860,000	$738,333	$7,037	4.58%
$1MM+	3	$4,015,000	$1,338,333	$14,406	4.55%

2020 saw Brannen Bank place emphasis on $100k-200k loans with 153 originations, totaling $22,785,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	92	$14,440,000	$156,957	$3,796	4.42%
$50k or less	92	$10,330,000	$112,283	$3,157	5.04%
$100k-150k	76	$18,350,000	$241,447	$4,511	4.30%
$75k-100k	61	$11,975,000	$196,311	$3,945	4.58%
$150k-250k	45	$13,435,000	$298,556	$4,841	4.43%
$250k+	19	$10,415,000	$548,158	$6,509	4.28%

Brannen Bank lent most frequently to those with incomes in the $50k-75k range, with 92 originations. The second most popular income band? $50k or less, with 92 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	79	$14,395,000	$182,215	$3,628	4.34%
30-36%	58	$10,930,000	$188,448	$4,106	4.38%
>60%	47	$10,805,000	$229,894	$4,497	5.07%
50-60%	35	$7,505,000	$214,429	$4,004	4.86%
<20%	33	$4,495,000	$136,212	$3,050	4.80%
37%	16	$5,730,000	$358,125	$5,646	4.37%
38%	16	$3,420,000	$213,750	$4,211	4.80%
44%	13	$2,465,000	$189,615	$4,115	4.22%
42%	12	$1,480,000	$123,333	$3,037	5.05%
45%	11	$2,415,000	$219,545	$4,871	4.20%
39%	10	$2,240,000	$224,000	$4,337	4.15%
47%	9	$1,545,000	$171,667	$3,982	4.28%
41%	9	$1,525,000	$169,444	$4,107	4.08%
36%	8	$1,490,000	$186,250	$4,184	5.09%
49%	7	$2,205,000	$315,000	$5,159	4.05%
46%	6	$1,070,000	$178,333	$4,103	4.21%
48%	6	$2,710,000	$451,667	$5,995	4.40%
40%	6	$1,750,000	$291,667	$4,542	4.61%
43%	6	$1,240,000	$206,667	$3,561	3.92%

Brannen Bank lent most frequently to those with DTI ratios of 20-30%, with 79 originations. The next most common DTI ratio? 30-36%, with 58 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	373	$75,725,000	$203,016	$4,034	4.55%
Not applicable	43	$11,005,000	$255,930	$0	4.89%
Not provided	17	$4,655,000	$273,824	$4,559	4.83%
Black	2	$510,000	$255,000	$4,615	3.68%
Asian	2	$420,000	$210,000	$4,454	5.07%

Approval Rates

Total approvals of all applications
87.26%

Brannen Bank has an average approval rate.

Pick Rate

Approvals leading to origination
77.12%

Brannen Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	437	$92,315,000	$211,247

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	6	$3,620,000	$603,333
Single Family (1-4 Units):Manufactured	16	$610,000	$38,125
Single Family (1-4 Units):Site-Built	415	$88,085,000	$212,253

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	48	$5,000,000	$104,167	$2,472	5.15%
40-60%	68	$11,720,000	$172,353	$3,774	4.49%
60-80%	206	$49,490,000	$240,243	$4,528	4.50%
80-100%	103	$25,725,000	$249,757	$4,563	4.43%
Under 20%	12	$380,000	$31,667	$400	5.71%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Brannen Bank	1187 South Broad Street Brooksville, FL 34601	Full Service B&M	$52,689
Brannen Bank	14300 Cortez Boulevard Brooksville, FL 34613	Full Service B&M	$20,927
Brannen Bank	200 West Main Street Inverness, FL 34450	Full Service B&M	$26,677
Brannen Bank	2519 East Florida Avenue Hernando, FL 34442	Full Service B&M	$27,256
Brannen Bank	320 Highway 41 South Inverness, FL 34450	Full Service B&M	$162,353
Brannen Bank	3930 North Lecanto Highway Beverly Hills, FL 34465	Full Service B&M	$27,650
Brannen Bank	401 North Central Avenue Inverness, FL 34453	Full Service B&M	$20,614
Brannen Bank	4325 South Suncoast Boulevard Homosassa, FL 34446	Full Service B&M	$77,951
Brannen Bank	6901 West Gulf-To-Lake Highway Crystal River, FL 34429	Limited, Drive-thru	$3,341
Brannen Bank	7478 S. Florida Ave. Floral City, FL 34436	Full Service B&M	$22,532
Brannen Bank	865 Ne Ushy 19 Crystal River, FL 34429	Full Service B&M	$59,228
Brannen Bank	U.S. Highway 41 North Dunnellon, FL 34432	Full Service B&M	$75,986

For 2020, Brannen Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$19,669
Net interest income	$18,530
Total noninterest income	$2,914
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$546
Trading account gains and fees	$0
Additional Noninterest Income	$2,368
Pre-tax net operating income	$8,928
Securities gains (or losses, -)	$164
Income before extraordinary items	$9,092
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$9,092
Minority interest net income	$0
Net income	$9,092
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$8,928

Brannen Bank's gross interest income from loans was $19,669,000.
Brannen Bank's net interest income from loans was $18,530,000.
Brannen Bank's fee based income from loans was $546,000.
Brannen Bank's net income from loans was $9,092,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,139
Provision for credit losses	$3
Total noninterest expense	$12,513
Salaries and employee benefits	$6,184
Premises and equipment expense	$1,274
Additional noninterest expense	$5,055
Applicable income taxes	$0
Net charge-offs	$4
Cash dividends	$7,900

Brannen Bank's interest expense for loans was $1,139,000.
Brannen Bank's payroll and benefits expense were $6,184,000.
Brannen Bank's property, plant and equipment expenses $1,274,000.

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	1.0%
HELOC loans	1.0%
All other family	1.0%
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	$616,971
Deposits held in domestic offices	$616,971
Deposits by Individuals, partnerships, and corporations	$592,920
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$24,050
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	$309,546
Demand deposits	$198,801
Nontransaction accounts	$307,424
Money market deposit accounts (MMDAs)	$103,735
Other savings deposits (excluding MMDAs)	$129,377
Total time deposits	$74,313
Total time and savings deposits	$418,169
Noninterest-bearing deposits	$198,801
Interest-bearing deposits	$418,170
Retail deposits	$597,333
IRAs and Keogh plan accounts	$11,349
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$654,641
Cash & Balances due from depository institutions	$165,231
Interest-bearing balances	$158,268
Total securities	$186,119
Federal funds sold & reverse repurchase	$0
Net loans and leases	$296,307
Loan and leases loss allowance	$3,241
Trading account assets	$0
Bank premises and fixed assets	$4,378
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$2,606

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$654,641
Total Liabilities	$617,480
Total deposits	$616,971
Interest-bearing deposits	$418,170
Deposits held in domestic offices	$616,971
% insured (estimated)	$82
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$509

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$296,307
Loan and leases loss allowance	$3,241
Total loans and leases (domestic)	$299,548
All real estate loans	$280,265
Real estate loans in domestic offices	$280,265
Construction and development loans	$21,549
Residential 1-4 family construction	$14,599
Other construction, all land development and other land	$6,950
Loans secured by nonfarm nonresidential properties	$48,050
Nonfarm nonresidential secured by owner-occupied properties	$17,980
Commercial real estate & other non-farm, non-residential	$30,070
Multifamily residential real estate	$1,843
1-4 family residential loans	$208,484
Farmland loans	$339
Loans held in foreign offices	$0
Farm loans	$21
Commercial and industrial loans	$14,014
To non-U.S. addressees	$0
Loans to individuals	$5,559
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$677
Other loans to individuals	$4,882
All other loans & leases	$13
Loans to foreign governments and official institutions	$0
Other loans	$13
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	$1,755
Non 1-4 family restructured loans & leases	$627
Total loans and leases (foreign)	$0

Brannen Bank had $296,307,000 of loans outstanding in 2020. $280,265,000 of loans were in real estate loans. $21,549,000 of loans were in development loans. $1,843,000 of loans were in multifamily mortgage loans. $208,484,000 of loans were in 1-4 family mortgage loans. $21,000 of loans were in farm loans. $0 of loans were in credit card loans. $677,000 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	$29,010	$202,867
Nonfarm, nonresidential loans - <$100k	26	$964	$37,077
Nonfarm, nonresidential loans - $100-250k	53	$6,300	$118,868
Nonfarm, nonresidential loans - $250k-1MM	64	$21,746	$339,781
Commercial & Industrial, US addressed loans - <$1MM	259	$12,877	$49,718
Commercial & Industrial, US addressed loans - <$100k	223	$6,663	$29,879
Commercial & Industrial, US addressed loans - $100-250k	32	$4,828	$150,875
Commercial & Industrial, US addressed loans - $250k-1MM	4	$1,386	$346,500
Farmland loans - <$1MM	2	$339	$169,500
Farmland loans - <$100k	1	$0	$0
Farmland loans - $250k-1MM	1	$339	$339,000
Agriculture operations loans - <$1MM	2	$21	$10,500
Agriculture operations loans - <$100k	1	$21	$21,000
Agriculture operations loans - $100-250k	1	$0	$0