New Century Bank Mortgage Rates, Fees & Info
Belleville, KSLEI: 549300W6UP8EY0KSBG85
Tax ID: 48-0345880
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Mortgage Data
Bank Data
Review & Overview
New Century Bank is a smaller bank specializing in Home Purchase loans. New Century Bank has a high proportion of conventional loans. Their top markets by origination volume include: Denver, Baltimore, Kansas City, Louisville, and Pueblo among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)New Century 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.
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Originations
15Origination Dollar Volume (All Markets)
$5,255,000Employee count
19Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 4 | $1,280,000 | $320,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 3 | $1,245,000 | $415,000 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| PUEBLO, CO (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Hudson, NY (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 14 | $5,120,000 | $365,714 | $0 | 0.00% |
| VA | 1 | $135,000 | $135,000 | $0 | 0.00% |
For 2020, New Century Bank's most frequently originated type of loan was Conventional, with 14 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 14 | $4,930,000 | $352,143 | $0 | 0.00% |
| Cash Out Refi | 1 | $325,000 | $325,000 | $0 | 0.00% |
For 2020, New Century Bank's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Cash Out Refi, with 1 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 15 | $5,255,000 | $350,333 | $0 | 0.00% |
For 2020, New Century Bank's most frequently cited loan duration was Other, with 15 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 8 | $2,420,000 | $302,500 | $0 | 0.00% |
| $400k-600k | 5 | $2,515,000 | $503,000 | $0 | 0.00% |
| $100k-200k | 2 | $320,000 | $160,000 | $0 | 0.00% |
2020 saw New Century Bank place emphasis on $200k-400k loans with 8 originations, totaling $2,420,000 in origination value.
Applicant Income
New Century Bank lent most frequently to those with incomes in the $150k-250k range, with 4 originations. The second most popular income band? $75k-100k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 15 | $5,255,000 | $350,333 | $0 | 0.00% |
New Century Bank lent most frequently to those with DTI ratios of Exempt%, with 15 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 14 | $4,780,000 | $341,429 | $0 | 0.00% |
| Not provided | 1 | $475,000 | $475,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
New Century Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination-273.33%
New Century Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 15 | $5,255,000 | $350,333 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 15 | $5,255,000 | $350,333 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| New Century Bank | 1211 28th Street Belleville, KS 66935 | Full Service B&M | $36,813 |
| New Century Bank | 2815 Anderson Avenue Manhattan, KS 66502 | Full Service B&M | $15,282 |
For 2020, New Century Bank had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $4,042 |
| Net interest income | $3,138 |
| Total noninterest income | $527 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $51 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $476 |
| Pre-tax net operating income | $837 |
| Securities gains (or losses, -) | $3 |
| Income before extraordinary items | $824 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $824 |
| Minority interest net income | $0 |
| Net income | $824 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $821 |
New Century Bank's gross interest income from loans was $4,042,000.
New Century Bank's net interest income from loans was $3,138,000.
New Century Bank's fee based income from loans was $51,000.
New Century Bank's net income from loans was $824,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $904 |
| Provision for credit losses | $144 |
| Total noninterest expense | $2,684 |
| Salaries and employee benefits | $1,435 |
| Premises and equipment expense | $301 |
| Additional noninterest expense | $948 |
| Applicable income taxes | $16 |
| Net charge-offs | $88 |
| Cash dividends | $300 |
New Century Bank's interest expense for loans was $904,000.
New Century Bank's payroll and benefits expense were $1,435,000.
New Century Bank's property, plant and equipment expenses $301,000.
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 | 4.0% |
| 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 | $52,057 |
| Deposits held in domestic offices | $52,057 |
| Deposits by Individuals, partnerships, and corporations | $49,629 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $2,428 |
| 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 | $12,613 |
| Demand deposits | $6,459 |
| Nontransaction accounts | $39,444 |
| Money market deposit accounts (MMDAs) | $6,325 |
| Other savings deposits (excluding MMDAs) | $2,883 |
| Total time deposits | $30,237 |
| Total time and savings deposits | $45,598 |
| Noninterest-bearing deposits | $6,814 |
| Interest-bearing deposits | $45,243 |
| Retail deposits | $45,154 |
| IRAs and Keogh plan accounts | $2,578 |
| Brokered deposits | $1,500 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $60,174 |
| Cash & Balances due from depository institutions | $7,739 |
| Interest-bearing balances | $6,576 |
| Total securities | $0 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $50,484 |
| Loan and leases loss allowance | $920 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,224 |
| Other real estate owned | $21 |
| Goodwill and other intangibles | $0 |
| All other assets | $706 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $60,173 |
| Total Liabilities | $53,845 |
| Total deposits | $52,057 |
| Interest-bearing deposits | $45,243 |
| Deposits held in domestic offices | $52,057 |
| % insured (estimated) | $93 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,576 |
| Subordinated debt | $0 |
| All other liabilities | $212 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $50,484 |
| Loan and leases loss allowance | $920 |
| Total loans and leases (domestic) | $51,404 |
| All real estate loans | $45,541 |
| Real estate loans in domestic offices | $45,541 |
| Construction and development loans | $19,877 |
| Residential 1-4 family construction | $19,877 |
| Other construction, all land development and other land | $0 |
| Loans secured by nonfarm nonresidential properties | $2,007 |
| Nonfarm nonresidential secured by owner-occupied properties | $61 |
| Commercial real estate & other non-farm, non-residential | $1,946 |
| Multifamily residential real estate | $0 |
| 1-4 family residential loans | $20,621 |
| Farmland loans | $3,036 |
| Loans held in foreign offices | $0 |
| Farm loans | $383 |
| Commercial and industrial loans | $1,244 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,598 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $1,223 |
| Other loans to individuals | $1,375 |
| All other loans & leases | $1,639 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $2 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $1,244 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
New Century Bank had $50,484,000 of loans outstanding in 2020. $45,541,000 of loans were in real estate loans. $19,877,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $20,621,000 of loans were in 1-4 family mortgage loans. $383,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,223,000 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 | 20 | $2,007 | $100,350 |
| Nonfarm, nonresidential loans - <$100k | 20 | $2,007 | $100,350 |
| Commercial & Industrial, US addressed loans - <$1MM | 103 | $1,244 | $12,078 |
| Commercial & Industrial, US addressed loans - <$100k | 103 | $1,244 | $12,078 |
| Farmland loans - <$1MM | 35 | $3,036 | $86,743 |
| Farmland loans - <$100k | 35 | $3,036 | $86,743 |
| Agriculture operations loans - <$1MM | 20 | $383 | $19,150 |
| Agriculture operations loans - <$100k | 20 | $383 | $19,150 |