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
  • 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, 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.

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    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






    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

    435

    Origination Dollar Volume (All Markets)

    $109,935,000

    Employee count

    92

    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.

    Citizens First Bank
    Similarity Rank: 432
    Shea Mortgage Inc.
    Similarity Rank: 1121
    SAN ANTONIO CITIZENS
    Similarity Rank: 1792
    RAILROAD & INDUSTRIAL
    Similarity Rank: 1974
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 2210
    TrustCo Bank
    Similarity Rank: 2380
    PARK SQUARE HOME MORTGAGE, LLC
    Similarity Rank: 2946
    CAMPUS USA
    Similarity Rank: 3040
    Auto Club Trust, FSB
    Similarity Rank: 3240
    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