County National Bank Mortgage Rates, Fees & Info

Hillsdale, MI

LEI: 549300W07W12OUENKR02

Tax ID: 38-0650660

5 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

County National Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. County National Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Jackson, Hillsdale, Adrian, Ann Arbor, and Lansing among others. County National Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. County National Bank is typically an average fee lendor.


Originations

714

Origination Dollar Volume (All Markets)

$129,270,000

Employee count

207

Relative Rate

County National Bank's average 30 year fixed rate mortgage of loans were 3.39%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.24%.

Relative Fees

County National Bank's average total fees for a 30 year fixed rate mortgage are $3,581.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
JACKSON, MI (FHA|USDA|VA) 325 $60,595,000 $186,446 $3,464 3.22%
Hillsdale, MI (FHA|USDA|VA) 223 $31,145,000 $139,664 $3,326 3.29%
Adrian, MI (FHA|USDA|VA) 67 $12,705,000 $189,627 $3,588 3.34%
Outside of Metro Areas 14 $2,610,000 $186,429 $2,771 3.27%
ANN ARBOR, MI (FHA|USDA|VA) 7 $2,555,000 $365,000 $5,384 3.40%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 6 $2,420,000 $403,333 $5,151 3.46%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,995,000 $1,995,000 $0 3.84%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 8 $1,860,000 $232,500 $3,436 2.94%
BATTLE CREEK, MI (FHA|USDA|VA) 17 $1,665,000 $97,941 $2,746 3.21%
Traverse City, MI (FHA|USDA|VA) 6 $1,350,000 $225,000 $4,918 3.18%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $1,325,000 $441,667 $10,851 3.35%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 4 $1,180,000 $295,000 $4,575 3.09%
Coldwater, MI (FHA|USDA|VA) 8 $1,090,000 $136,250 $3,518 3.38%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $885,000 $295,000 $6,345 3.25%
Key West, FL (FHA|USDA|VA) 2 $880,000 $440,000 $7,162 3.50%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $715,000 $715,000 $0 3.99%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $555,000 $555,000 $0 3.49%
FLINT, MI (FHA|USDA|VA) 1 $515,000 $515,000 $5,603 2.88%
Angola, IN (FHA|USDA|VA) 3 $505,000 $168,333 $3,389 2.96%
WILMINGTON, NC (FHA|USDA|VA) 1 $475,000 $475,000 $6,160 3.00%
MONROE, MI (FHA|USDA|VA) 2 $340,000 $170,000 $2,801 3.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $305,000 $305,000 $8,540 3.75%
Mount Pleasant, MI (FHA|USDA|VA) 2 $300,000 $150,000 $2,862 3.31%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $235,000 $235,000 $5,622 3.13%
Big Rapids, MI (FHA|USDA|VA) 1 $235,000 $235,000 $2,627 3.38%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $225,000 $225,000 $4,999 4.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $205,000 $205,000 $4,574 3.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $125,000 $125,000 $2,011 3.00%
TOLEDO, OH (FHA|USDA|VA) 1 $105,000 $105,000 $3,135 3.50%
NILES, MI (FHA|USDA|VA) 1 $95,000 $95,000 $3,748 3.38%
Ludington, MI (FHA|USDA|VA) 1 $75,000 $75,000 $2,882 2.63%

County National Bank's top markets include Jackson, Hillsdale, Adrian, Ann Arbor, and Lansing among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 713 $129,125,000 $181,101 $3,492 3.26%
USDA 1 $145,000 $145,000 $3,932 3.50%

For the 2021 period, County National Bank's most frequently originated loan type of loans were Conventional, with 713 originations. Their 2nd most popular type is USDA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 275 $58,625,000 $213,182 $3,741 3.61%
Refi 225 $37,575,000 $167,000 $2,978 2.99%
Cash Out Refi 183 $28,625,000 $156,421 $3,742 3.05%
Home Improvement 18 $1,930,000 $107,222 $3,026 3.37%
Other 13 $2,515,000 $193,462 $4,130 3.27%

For the 2021, County National Bank's most frequently cited loan purpose of loans were Home Purchase, with 275 originations. The 2nd most popular reason of loans were Refi, with 225 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 365 $63,485,000 $173,932 $3,581 3.39%
15 Year 203 $32,325,000 $159,236 $3,192 2.77%
20 Year 85 $17,575,000 $206,765 $3,402 3.69%
10 Year 35 $5,235,000 $149,571 $2,837 2.96%
30+ year 14 $5,930,000 $423,571 $7,288 4.25%
Other 11 $4,565,000 $415,000 $2,825 3.90%
1 Year 1 $155,000 $155,000 $0 4.25%

For the 2021, County National Bank's most frequently cited loan length of loans were 30 Year, with 365 originations. The 2nd most popular length of loans were 15 Year, with 203 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 244 $30,610,000 $125,451
$<1k 159 $20,695,000 $130,157
$2k-3k 128 $24,060,000 $187,969
$3k-4k 93 $24,035,000 $258,441
$5k+ 19 $8,755,000 $460,789

$3,581 of loans were County National Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 244 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 297 $48,835,000 $164,428
3-4% 293 $54,055,000 $184,488
4-5% 85 $18,735,000 $220,412
<2.5% 31 $6,725,000 $216,935
5-6% 8 $920,000 $115,000

During 2021, County National Bank's average interest rate of loans were 3.39%, while their most frequently originated rate bucket of loans were 2.5-3%, with 297 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 329 $45,805,000 $139,225 $3,219 3.23%
$100,000 or less 188 $13,810,000 $73,457 $2,528 3.32%
$200k-400k 153 $41,035,000 $268,203 $4,562 3.19%
$400k-600k 32 $15,280,000 $477,500 $6,163 3.35%
$600k-1MM 7 $4,605,000 $657,857 $8,832 3.41%
$1MM+ 5 $8,735,000 $1,747,000 $12,257 3.95%

2021 saw County National Bank place emphasis on $100k-200k loans with 329 originations, totaling $45,805,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 181 $18,935,000 $104,613 $2,735 3.30%
$50k-75k 148 $20,060,000 $135,541 $3,215 3.22%
$75k-100k 120 $18,870,000 $157,250 $3,480 3.27%
$100k-150k 115 $23,515,000 $204,478 $3,964 3.28%
$150k-250k 79 $22,145,000 $280,316 $4,424 3.06%
$250k+ 29 $12,495,000 $430,862 $5,554 3.10%

County National Bank lent most frequently to those with incomes in the $50k or less range, with 181 originations. The second most popular income band? $50k-75k, with 148 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 178 $30,900,000 $173,596 $3,399 3.13%
30-36% 148 $24,900,000 $168,243 $3,424 3.20%
<20% 91 $13,935,000 $153,132 $3,112 3.03%
37% 31 $6,415,000 $206,935 $3,962 3.35%
>60% 26 $5,420,000 $208,462 $4,251 3.99%
38% 26 $4,800,000 $184,615 $3,606 3.14%
36% 20 $2,920,000 $146,000 $3,386 3.28%
41% 19 $3,675,000 $193,421 $3,656 3.24%
39% 19 $4,335,000 $228,158 $4,625 3.18%
44% 18 $3,070,000 $170,556 $4,057 3.15%
50-60% 17 $3,055,000 $179,706 $3,808 3.89%
43% 17 $2,985,000 $175,588 $3,746 3.13%
42% 16 $2,730,000 $170,625 $3,659 3.33%
40% 15 $2,165,000 $144,333 $3,140 3.12%
47% 10 $1,630,000 $163,000 $3,209 3.18%
48% 10 $1,480,000 $148,000 $3,512 3.29%
45% 10 $1,820,000 $182,000 $3,946 3.78%
49% 8 $1,370,000 $171,250 $3,596 2.73%
46% 8 $1,030,000 $128,750 $2,572 3.47%

County National Bank lent most frequently to those with DTI ratios of 20-30%, with 178 originations. The next most common DTI ratio? 30-36%, with 148 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 627 $108,655,000 $173,293 $3,483 3.23%
Not applicable 25 $10,245,000 $409,800 $0 4.30%
Not provided 47 $8,195,000 $174,362 $3,425 3.10%
American Indian 5 $655,000 $131,000 $3,594 3.18%
Black 5 $615,000 $123,000 $4,478 3.35%
Asian 3 $565,000 $188,333 $4,320 3.04%
Other Asian 1 $175,000 $175,000 $4,228 2.63%
Filipino 1 $165,000 $165,000 $4,556 3.25%

Approval Rates

Total approvals of all applications
89.37%

County National Bank has an average approval rate.

Pick Rate

Approvals leading to origination
72.77%

County National Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 714 $129,270,000 $181,050

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
714 $129,270,000 $181,050

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 52 $5,650,000 $108,654 $2,436 3.03%
40-60% 169 $27,465,000 $162,515 $2,821 3.06%
60-80% 283 $57,035,000 $201,537 $3,859 3.29%
80-100% 205 $38,535,000 $187,976 $3,863 3.45%
Over 100% 1 $155,000 $155,000 $3,744 3.25%
Under 20% 4 $430,000 $107,500 $2,642 2.84%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
County National Bank 1 South Howell Street Hillsdale, MI 49242 Full Service B&M $237,991
County National Bank 105-109 West Main Street Homer, MI 49245 Full Service B&M $47,459
County National Bank 112 Jonesville Street Litchfield, MI 49252 Full Service B&M $45,681
County National Bank 119 West Main Street Spring Arbor, MI 49283 Full Service B&M $59,078
County National Bank 125 West Main Street Hanover, MI 49241 Full Service B&M $28,955
County National Bank 12641 East Chicago Road Somerset Center, MI 49282 Full Service B&M $36,408
County National Bank 1380 South Main St Adrian, MI 49221 Full Service B&M $52,524
County National Bank 150 Lewis Street Hillsdale, MI 49242 Limited, Drive-thru $0
County National Bank 1523 Horton Rd Jackson, MI 49203 Full Service B&M $77,396
County National Bank 1800 North Wisner Street Jackson, MI 49202 Full Service B&M $67,359
County National Bank 215 S Jackson Street Jackson, MI 49201 Full Service B&M $173,038
County National Bank 228 East Chicago Avenue Jonesville, MI 49250 Full Service B&M $69,426
County National Bank 325 Railroad St Hudson, MI 49247 Full Service B&M $51,674

For 2021, County National Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $38,755
Net interest income $36,123
Total noninterest income $10,681
Gross Fiduciary activities income $1,609
Service charges on deposit accounts $1,021
Trading account gains and fees $0
Additional Noninterest Income $8,051
Pre-tax net operating income $14,872
Securities gains (or losses, -) $87
Income before extraordinary items $11,902
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $11,902
Minority interest net income $0
Net income $11,902
Sale, conversion, retirement of capital stock, net $0
Net operating income $11,832

County National Bank's gross interest income from loans was $38,755,000.
County National Bank's net interest income from loans was $36,123,000.
County National Bank's fee based income from loans was $1,021,000.
County National Bank's net income from loans was $11,902,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,632
Provision for credit losses $1,255
Total noninterest expense $30,677
Salaries and employee benefits $18,361
Premises and equipment expense $4,666
Additional noninterest expense $7,650
Applicable income taxes $3,057
Net charge-offs $-5
Cash dividends $4,630

County National Bank's interest expense for loans was $2,632,000.
County National Bank's payroll and benefits expense were $18,361,000.
County National Bank's property, plant and equipment expenses $4,666,000.

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 $1,046,860
Deposits held in domestic offices $1,046,860
Deposits by Individuals, partnerships, and corporations $901,865
Deposits by U.S. Government $1
Deposits by States and political subdivisions in the U.S. $142,296
Deposits by Commercial banks and other depository institutions in U.S. $2,698
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $573,251
Demand deposits $518,184
Nontransaction accounts $473,609
Money market deposit accounts (MMDAs) $122,537
Other savings deposits (excluding MMDAs) $265,526
Total time deposits $85,547
Total time and savings deposits $528,676
Noninterest-bearing deposits $268,858
Interest-bearing deposits $778,002
Retail deposits $1,017,579
IRAs and Keogh plan accounts $12,723
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,148,854
Cash & Balances due from depository institutions $250,228
Interest-bearing balances $237,170
Total securities $66,318
Federal funds sold & reverse repurchase $0
Net loans and leases $792,328
Loan and leases loss allowance $11,765
Trading account assets $0
Bank premises and fixed assets $10,554
Other real estate owned $570
Goodwill and other intangibles $4,368
All other assets $24,488

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,148,854
Total Liabilities $1,062,420
Total deposits $1,046,860
Interest-bearing deposits $778,002
Deposits held in domestic offices $1,046,860
% insured (estimated) $65
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $9,000
Subordinated debt $0
All other liabilities $6,560

Issued Loan Types

Type Value (in 000's)
Net loans and leases $792,328
Loan and leases loss allowance $11,765
Total loans and leases (domestic) $804,093
All real estate loans $549,930
Real estate loans in domestic offices $549,930
Construction and development loans $18,282
Residential 1-4 family construction $7,095
Other construction, all land development and other land $11,187
Loans secured by nonfarm nonresidential properties $262,282
Nonfarm nonresidential secured by owner-occupied properties $181,894
Commercial real estate & other non-farm, non-residential $80,388
Multifamily residential real estate $13,405
1-4 family residential loans $241,082
Farmland loans $14,879
Loans held in foreign offices $0
Farm loans $10,141
Commercial and industrial loans $206,104
To non-U.S. addressees $0
Loans to individuals $36,606
Credit card loans $0
Related Plans $2,788
Consumer Auto Loans $5,129
Other loans to individuals $28,689
All other loans & leases $1,312
Loans to foreign governments and official institutions $0
Other loans $186
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 $2,100
Non 1-4 family restructured loans & leases $577
Total loans and leases (foreign) $0

County National Bank had $792,328,000 of loans outstanding in 2021. $549,930,000 of loans were in real estate loans. $18,282,000 of loans were in development loans. $13,405,000 of loans were in multifamily mortgage loans. $241,082,000 of loans were in 1-4 family mortgage loans. $10,141,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,129,000 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 532 $104,231 $195,923
Nonfarm, nonresidential loans - <$100k 141 $5,390 $38,227
Nonfarm, nonresidential loans - $100-250k 196 $22,777 $116,209
Nonfarm, nonresidential loans - $250k-1MM 195 $76,064 $390,072
Commercial & Industrial, US addressed loans - <$1MM 935 $80,938 $86,565
Commercial & Industrial, US addressed loans - <$100k 557 $13,177 $23,657
Commercial & Industrial, US addressed loans - $100-250k 209 $20,431 $97,756
Commercial & Industrial, US addressed loans - $250k-1MM 169 $47,330 $280,059
Farmland loans - <$1MM 79 $9,849 $124,671
Farmland loans - <$100k 29 $1,254 $43,241
Farmland loans - $100-250k 35 $4,717 $134,771
Farmland loans - $250k-1MM 15 $3,878 $258,533
Agriculture operations loans - <$1MM 56 $2,891 $51,625
Agriculture operations loans - <$100k 39 $830 $21,282
Agriculture operations loans - $100-250k 10 $1,153 $115,300
Agriculture operations loans - $250k-1MM 7 $908 $129,714