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 Gainesville among others. We have data for 6 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 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%	4/28/24
30 Year Conventional Refi	7.42%	4/28/24
30 Year Cash-out Refi	7.52%	4/28/24
15 Year Conventional Purchase	7.79%	4/28/24
15 Year Conventional Refi	7.33%	4/28/24
15 Year Cash-out Refi	7.33%	4/28/24
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

435

Origination Dollar Volume (All Markets)

$109,935,000

Employee count

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)	272	$68,630,000	$252,316	$4,413	4.56%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	117	$29,985,000	$256,282	$5,040	4.31%
OCALA, FL (FHA\|USDA\|VA)	28	$6,160,000	$220,000	$4,805	4.57%
THE VILLAGES, FL (FHA\|USDA\|VA)	9	$2,985,000	$331,667	$5,855	4.25%
GAINESVILLE, FL (FHA\|USDA\|VA)	8	$1,820,000	$227,500	$4,617	4.64%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$355,000	$355,000	$7,177	4.00%

Brannen Bank's top markets include Homosassa Springs, Tampa, Ocala, The Villages, and Gainesville 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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Brannen Bank
Similarity Rank: 3258

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	435	$109,935,000	$252,724	$4,651	4.49%

For 2021, Brannen Bank's most frequently originated type of loan was Conventional, with 435 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	349	$91,985,000	$263,567	$5,134	4.38%
Refi	51	$15,125,000	$296,569	$3,409	4.60%
Home Improvement	21	$1,255,000	$59,762	$1,258	6.03%
Other	14	$1,570,000	$112,143	$2,673	4.49%

For 2021, Brannen Bank's most frequently cited loan purpose was Home Purchase, with 349 originations. The 2nd most popular reason was Refi, with 51 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30+ year	189	$54,575,000	$288,757	$5,521	4.27%
30 Year	113	$26,725,000	$236,504	$4,332	4.20%
15 Year	53	$6,445,000	$121,604	$2,397	5.32%
Other	47	$16,545,000	$352,021	$5,242	4.71%
20 Year	25	$5,125,000	$205,000	$4,173	4.82%
10 Year	7	$495,000	$70,714	$2,931	5.64%
3 Year	1	$25,000	$25,000	$725	6.15%

For 2021, Brannen Bank's most frequently cited loan duration was 30+ year, with 189 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	327	$80,615,000	$246,529
$2k-3k	28	$5,630,000	$201,071
$<1k	27	$1,355,000	$50,185
$3k-4k	11	$3,805,000	$345,909
$4k-5k	3	$1,435,000	$478,333
$5k+	1	$785,000	$785,000

Brannen Bank's average total fees were $4,332, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 327 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	186	$54,820,000	$294,731
4-5%	152	$40,970,000	$269,539
5-6%	52	$8,430,000	$162,115
6-7%	19	$1,445,000	$76,053
2.5-3%	17	$3,075,000	$180,882
Over 8%	4	$120,000	$30,000
<2.5%	4	$980,000	$245,000
7-8%	1	$95,000	$95,000

During 2021, Brannen Bank's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 3-4%, with 186 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	178	$49,250,000	$276,685	$5,274	4.24%
$100k-200k	138	$21,010,000	$152,246	$4,139	4.51%
$100,000 or less	62	$3,850,000	$62,097	$2,187	5.42%
$400k-600k	37	$17,855,000	$482,568	$6,599	4.03%
$600k-1MM	19	$13,715,000	$721,842	$8,148	4.49%
$1MM+	1	$4,255,000	$4,255,000	$0	4.99%

2021 saw Brannen Bank place emphasis on $200k-400k loans with 178 originations, totaling $49,250,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	89	$24,125,000	$271,067	$5,167	4.20%
$50k-75k	88	$18,280,000	$207,727	$4,486	4.52%
$50k or less	82	$10,180,000	$124,146	$3,423	4.91%
$75k-100k	79	$17,985,000	$227,658	$4,594	4.44%
$150k-250k	33	$11,615,000	$351,970	$5,610	4.24%
$250k+	25	$11,615,000	$464,600	$6,330	4.09%

Brannen Bank lent most frequently to those with incomes in the $100k-150k range, with 89 originations. The second most popular income band? $50k-75k, with 88 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
50-60%	66	$15,250,000	$231,061	$4,637	4.66%
>60%	62	$16,580,000	$267,419	$4,964	4.58%
20-30%	57	$13,445,000	$235,877	$4,663	4.25%
30-36%	48	$10,810,000	$225,208	$4,670	4.55%
39%	19	$4,195,000	$220,789	$4,416	4.56%
<20%	17	$4,485,000	$263,824	$4,266	3.79%
48%	15	$3,785,000	$252,333	$4,987	4.17%
38%	12	$2,550,000	$212,500	$4,182	4.99%
43%	12	$3,040,000	$253,333	$4,350	4.53%
36%	12	$2,690,000	$224,167	$4,534	4.24%
41%	11	$2,445,000	$222,273	$5,136	4.21%
49%	10	$2,390,000	$239,000	$4,743	4.77%
40%	9	$1,765,000	$196,111	$4,414	4.31%
37%	9	$1,515,000	$168,333	$3,843	4.51%
46%	9	$2,155,000	$239,444	$4,600	4.81%
42%	8	$1,600,000	$200,000	$4,336	4.45%
47%	7	$1,285,000	$183,571	$3,871	4.73%
45%	7	$2,055,000	$293,571	$5,695	4.03%
44%	7	$2,125,000	$303,571	$4,886	3.75%

Brannen Bank lent most frequently to those with DTI ratios of 50-60%, with 66 originations. The next most common DTI ratio? >60%, with 62 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	382	$89,310,000	$233,796	$4,641	4.45%
Not applicable	37	$15,505,000	$419,054	$0	4.83%
Not provided	5	$1,735,000	$347,000	$4,322	5.09%
Asian	4	$1,590,000	$397,500	$5,301	4.06%
Black	5	$1,385,000	$277,000	$5,283	4.49%
Other Pacific Islander	1	$305,000	$305,000	$4,946	5.99%
Asian Indian	1	$105,000	$105,000	$4,159	3.75%

Approval Rates

Total approvals of all applications
94.47%

Brannen Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.21%

Brannen Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	435	$109,935,000	$252,724

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	435	$109,935,000	$252,724

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	36	$3,730,000	$103,611	$3,137	5.07%
40-60%	75	$16,785,000	$223,800	$4,607	4.24%
60-80%	231	$68,735,000	$297,554	$5,149	4.40%
80-100%	75	$19,975,000	$266,333	$5,005	4.38%
Under 20%	18	$710,000	$39,444	$573	5.94%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Brannen Bank	1187 South Broad Street Brooksville, FL 34601	Full Service B&M	$70,152
Brannen Bank	14300 Cortez Boulevard Brooksville, FL 34613	Full Service B&M	$27,944
Brannen Bank	200 West Main Street Inverness, FL 34450	Full Service B&M	$35,498
Brannen Bank	2519 East Florida Avenue Hernando, FL 34442	Full Service B&M	$30,579
Brannen Bank	320 Highway 41 South Inverness, FL 34450	Full Service B&M	$200,920
Brannen Bank	3930 North Lecanto Highway Beverly Hills, FL 34465	Full Service B&M	$36,248
Brannen Bank	401 North Central Avenue Inverness, FL 34453	Full Service B&M	$24,181
Brannen Bank	4325 South Suncoast Boulevard Homosassa, FL 34446	Full Service B&M	$97,125
Brannen Bank	6901 West Gulf-To-Lake Highway Crystal River, FL 34429	Limited, Drive-thru	$3,176
Brannen Bank	7478 S. Florida Ave. Floral City, FL 34436	Full Service B&M	$24,938
Brannen Bank	865 Ne Ushy 19 Crystal River, FL 34429	Full Service B&M	$71,211
Brannen Bank	U.S. Highway 41 North Dunnellon, FL 34432	Full Service B&M	$93,588

For 2021, Brannen Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$18,250
Net interest income	$17,491
Total noninterest income	$2,926
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$625
Trading account gains and fees	$0
Additional Noninterest Income	$2,301
Pre-tax net operating income	$7,917
Securities gains (or losses, -)	$626
Income before extraordinary items	$8,543
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$8,543
Minority interest net income	$0
Net income	$8,543
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,917

Brannen Bank's gross interest income from loans was $18,250,000.
Brannen Bank's net interest income from loans was $17,491,000.
Brannen Bank's fee based income from loans was $625,000.
Brannen Bank's net income from loans was $8,543,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$759
Provision for credit losses	$-330
Total noninterest expense	$12,830
Salaries and employee benefits	$6,243
Premises and equipment expense	$1,333
Additional noninterest expense	$5,254
Applicable income taxes	$0
Net charge-offs	$-1
Cash dividends	$3,250

Brannen Bank's interest expense for loans was $759,000.
Brannen Bank's payroll and benefits expense were $6,243,000.
Brannen Bank's property, plant and equipment expenses $1,333,000.

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	$763,149
Deposits held in domestic offices	$763,149
Deposits by Individuals, partnerships, and corporations	$724,361
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$38,787
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	$394,448
Demand deposits	$260,712
Nontransaction accounts	$368,700
Money market deposit accounts (MMDAs)	$128,092
Other savings deposits (excluding MMDAs)	$157,077
Total time deposits	$83,531
Total time and savings deposits	$502,436
Noninterest-bearing deposits	$254,564
Interest-bearing deposits	$508,585
Retail deposits	$739,015
IRAs and Keogh plan accounts	$11,937
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$801,057
Cash & Balances due from depository institutions	$301,533
Interest-bearing balances	$294,512
Total securities	$206,843
Federal funds sold & reverse repurchase	$0
Net loans and leases	$286,321
Loan and leases loss allowance	$2,913
Trading account assets	$0
Bank premises and fixed assets	$4,451
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$1,909

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$801,057
Total Liabilities	$763,443
Total deposits	$763,149
Interest-bearing deposits	$508,585
Deposits held in domestic offices	$763,149
% insured (estimated)	$78
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$294

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$286,321
Loan and leases loss allowance	$2,913
Total loans and leases (domestic)	$289,234
All real estate loans	$278,849
Real estate loans in domestic offices	$278,849
Construction and development loans	$29,750
Residential 1-4 family construction	$23,722
Other construction, all land development and other land	$6,028
Loans secured by nonfarm nonresidential properties	$53,760
Nonfarm nonresidential secured by owner-occupied properties	$23,652
Commercial real estate & other non-farm, non-residential	$30,108
Multifamily residential real estate	$1,663
1-4 family residential loans	$193,347
Farmland loans	$329
Loans held in foreign offices	$0
Farm loans	$88
Commercial and industrial loans	$3,175
To non-U.S. addressees	$0
Loans to individuals	$7,565
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$854
Other loans to individuals	$6,711
All other loans & leases	$16
Loans to foreign governments and official institutions	$0
Other loans	$16
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	$1,526
Non 1-4 family restructured loans & leases	$598
Total loans and leases (foreign)	$0

Brannen Bank had $286,321,000 of loans outstanding in 2021. $278,849,000 of loans were in real estate loans. $29,750,000 of loans were in development loans. $1,663,000 of loans were in multifamily mortgage loans. $193,347,000 of loans were in 1-4 family mortgage loans. $88,000 of loans were in farm loans. $0 of loans were in credit card loans. $854,000 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	142	$30,134	$212,211
Nonfarm, nonresidential loans - <$100k	23	$876	$38,087
Nonfarm, nonresidential loans - $100-250k	51	$6,458	$126,627
Nonfarm, nonresidential loans - $250k-1MM	68	$22,800	$335,294
Commercial & Industrial, US addressed loans - <$1MM	23	$2,219	$96,478
Commercial & Industrial, US addressed loans - <$100k	16	$381	$23,813
Commercial & Industrial, US addressed loans - $100-250k	4	$556	$139,000
Commercial & Industrial, US addressed loans - $250k-1MM	3	$1,282	$427,333
Farmland loans - <$1MM	3	$329	$109,667
Farmland loans - <$100k	2	$0	$0
Farmland loans - $250k-1MM	1	$329	$329,000
Agriculture operations loans - <$1MM	2	$88	$44,000
Agriculture operations loans - <$100k	1	$48	$48,000
Agriculture operations loans - $100-250k	1	$40	$40,000