The Citizens National Bank Of Meridian Mortgage Rates, Fees & Info

Meridian, MS

LEI: 549300XFNTNQLLW0HY87

Tax ID: 64-0134521

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The Citizens National Bank Of Meridian is a smaller bank specializing in Home Purchase and Refi loans. The Citizens National Bank Of Meridian has a high proportion of conventional loans. Their top markets include Meridian, Hattiesburg, Jackson, Laurel, and Memphis among others. The Citizens National Bank Of Meridian has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. The Citizens National Bank Of Meridian is typically a low fee lendor.


Originations

516

Origination Dollar Volume (All Markets)

$120,830,000

Employee count

317

Awards

The Citizens National Bank of Meridian 30 Year Conventional Loans silver The Citizens National Bank of Meridian 30 Year Conventional Loans gold The Citizens National Bank of Meridian 30 Year Conventional Loans silver The Citizens National Bank of Meridian 30 Year Conventional Loans silver
Show all (4) awards

Relative Rate

The Citizens National Bank Of Meridian's average 30 year fixed rate mortgage of loans were 3.32%.

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

This yields a difference of 0.17%.

Relative Fees

The Citizens National Bank Of Meridian's average total fees for a 30 year fixed rate mortgage are $3,091.

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
Meridian, MS (FHA|USDA|VA) 154 $29,290,000 $190,195 $2,956 3.42%
HATTIESBURG, MS (FHA|USDA|VA) 104 $26,150,000 $251,442 $2,799 3.30%
JACKSON, MS (FHA|USDA|VA) 72 $18,920,000 $262,778 $2,818 3.43%
Laurel, MS (FHA|USDA|VA) 40 $8,240,000 $206,000 $2,643 3.35%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 26 $7,570,000 $291,154 $2,680 3.64%
Outside of Metro Areas 49 $6,265,000 $127,857 $2,816 3.82%
Columbus, MS (FHA|USDA|VA) 25 $5,015,000 $200,600 $2,846 3.42%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 7 $4,215,000 $602,143 $3,151 3.55%
Starkville, MS (FHA|USDA|VA) 12 $4,170,000 $347,500 $3,588 3.82%
TUSCALOOSA, AL (FHA|USDA|VA) 3 $2,505,000 $835,000 $2,526 3.31%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 5 $1,725,000 $345,000 $3,704 3.34%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 3 $1,625,000 $541,667 $5,544 3.91%
Oxford, MS (FHA|USDA|VA) 7 $1,175,000 $167,857 $2,566 3.68%
Alexander City, AL (FHA|USDA|VA) 1 $965,000 $965,000 $2,785 3.49%
MOBILE, AL (FHA|USDA|VA) 1 $845,000 $845,000 $0 3.65%
Sevierville, TN (FHA|USDA|VA) 1 $695,000 $695,000 $0 4.50%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $470,000 $235,000 $2,914 3.56%
West Point, MS (FHA|USDA|VA) 1 $415,000 $415,000 $3,785 2.63%
Tupelo, MS (FHA|USDA|VA) 1 $285,000 $285,000 $3,071 2.63%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $185,000 $185,000 $2,562 2.75%
ALEXANDRIA, LA (FHA|USDA|VA) 1 $105,000 $105,000 $3,216 3.25%

The Citizens National Bank Of Meridian's top markets include Meridian, Hattiesburg, Jackson, Laurel, and Memphis among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 498 $116,740,000 $234,418 $2,750 3.49%
VA 18 $4,090,000 $227,222 $5,281 2.65%

For the 2021 period, The Citizens National Bank Of Meridian's most frequently originated loan type of loans were Conventional, with 498 originations. Their 2nd most popular type is VA, with 18 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 243 $48,555,000 $199,815 $3,150 3.41%
Refi 219 $60,445,000 $276,005 $2,615 3.44%
Cash Out Refi 47 $10,045,000 $213,723 $2,602 3.54%
Home Improvement 6 $1,770,000 $295,000 $61 4.65%
Other 1 $15,000 $15,000 $1,136 5.55%

For the 2021, The Citizens National Bank Of Meridian's most frequently cited loan purpose of loans were Home Purchase, with 243 originations. The 2nd most popular reason of loans were Refi, with 219 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 218 $46,000,000 $211,009 $3,091 3.32%
Other 86 $21,290,000 $247,558 $2,757 3.43%
5 Year 66 $19,140,000 $290,000 $61 4.29%
15 Year 59 $13,815,000 $234,153 $2,797 2.75%
20 Year 47 $10,005,000 $212,872 $2,581 3.40%
10 Year 36 $10,320,000 $286,667 $1,924 3.92%
3 Year 4 $260,000 $65,000 $0 4.90%

For the 2021, The Citizens National Bank Of Meridian's most frequently cited loan length of loans were 30 Year, with 218 originations. The 2nd most popular length of loans were Other, with 86 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 360 $72,600,000 $201,667
$1k-2k 42 $7,670,000 $182,619
$2k-3k 6 $1,110,000 $185,000
$3k-4k 1 $215,000 $215,000

$3,091 of loans were The Citizens National Bank Of Meridian's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 360 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 196 $54,810,000 $279,643
2.5-3% 152 $33,350,000 $219,408
4-5% 109 $22,275,000 $204,358
<2.5% 52 $9,940,000 $191,154
5-6% 5 $425,000 $85,000
7-8% 2 $30,000 $15,000

During 2021, The Citizens National Bank Of Meridian's average interest rate of loans were 3.32%, while their most frequently originated rate bucket of loans were 3-4%, with 196 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 191 $27,825,000 $145,681 $2,868 3.27%
$200k-400k 143 $38,645,000 $270,245 $3,153 3.23%
$100,000 or less 115 $6,935,000 $60,304 $2,224 4.02%
$400k-600k 40 $18,880,000 $472,000 $3,440 3.34%
$600k-1MM 16 $12,430,000 $776,875 $2,190 3.81%
$1MM+ 11 $16,115,000 $1,465,000 $0 3.72%

2021 saw The Citizens National Bank Of Meridian place emphasis on $100k-200k loans with 191 originations, totaling $27,825,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 101 $14,655,000 $145,099 $2,936 3.25%
$50k or less 93 $9,795,000 $105,323 $2,384 3.57%
$100k-150k 85 $19,715,000 $231,941 $3,113 3.22%
$150k-250k 65 $17,635,000 $271,308 $2,794 3.35%
$75k-100k 56 $10,460,000 $186,786 $3,146 3.16%
$250k+ 33 $11,435,000 $346,515 $3,020 3.40%

The Citizens National Bank Of Meridian lent most frequently to those with incomes in the $50k-75k range, with 101 originations. The second most popular income band? $50k or less, with 93 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 128 $24,810,000 $193,828 $2,903 3.21%
30-36% 85 $17,995,000 $211,706 $3,013 3.30%
<20% 65 $13,935,000 $214,385 $2,768 3.01%
39% 20 $3,760,000 $188,000 $2,777 3.41%
37% 20 $3,250,000 $162,500 $2,865 3.67%
38% 17 $2,655,000 $156,176 $2,719 3.39%
42% 15 $3,115,000 $207,667 $2,938 3.24%
40% 10 $1,490,000 $149,000 $2,655 3.53%
36% 9 $1,265,000 $140,556 $3,300 3.28%
41% 7 $1,435,000 $205,000 $2,988 3.18%
43% 7 $1,235,000 $176,429 $2,807 3.11%
44% 6 $910,000 $151,667 $2,301 3.59%
46% 5 $745,000 $149,000 $3,247 3.08%
49% 5 $1,335,000 $267,000 $2,796 3.10%
50-60% 5 $1,325,000 $265,000 $1,661 4.29%
48% 4 $820,000 $205,000 $3,046 2.84%
45% 2 $310,000 $155,000 $2,735 2.94%
47% 2 $270,000 $135,000 $2,574 2.88%
>60% 1 $135,000 $135,000 $1,698 4.49%

The Citizens National Bank Of Meridian lent most frequently to those with DTI ratios of 20-30%, with 128 originations. The next most common DTI ratio? 30-36%, with 85 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 368 $75,560,000 $205,326 $2,865 3.29%
Not applicable 74 $34,550,000 $466,892 $0 4.20%
Black 54 $6,700,000 $124,074 $2,804 3.58%
Asian 7 $1,525,000 $217,857 $2,233 3.17%
Asian Indian 3 $1,015,000 $338,333 $3,247 2.96%
Not provided 7 $905,000 $129,286 $2,964 3.70%
Vietnamese 1 $325,000 $325,000 $1,383 4.49%
American Indian 2 $250,000 $125,000 $5,571 3.62%

Approval Rates

Total approvals of all applications
93.57%

The Citizens National Bank Of Meridian has an average approval rate.

Pick Rate

Approvals leading to origination
79.82%

The Citizens National Bank Of Meridian has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
3716.73 1 $305,000 $305,000
NA 515 $120,525,000 $234,029

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
516 $120,830,000 $234,167

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 26 $2,880,000 $110,769 $1,955 3.99%
40-60% 69 $15,015,000 $217,609 $2,596 3.41%
60-80% 188 $48,110,000 $255,904 $2,773 3.37%
80-100% 210 $45,460,000 $216,476 $3,133 3.39%
Over 100% 8 $4,780,000 $597,500 $4,857 3.60%
Under 20% 6 $130,000 $21,667 $687 5.01%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The Citizens National Bank of Meridian 101 East Jefferson Street Kosciusko, MS 39090 Full Service B&M $82,648
The Citizens National Bank of Meridian 120 Highway 12 East Kosciusko, MS 39090 Full Service B&M $33,182
The Citizens National Bank of Meridian 7045 Goodman Road Olive Branch, MS 38654 Full Service B&M $11,036
The Citizens National Bank of Meridian 7203 Goodman Road, 2nd Floor Suite D Olive Branch, MS 38654 Full Service B&M $31,568
The Citizens National Bank of Meridian 744 Pear Orchard Road Ridgeland, MS 39157 Full Service B&M $26,296
The Citizens National Bank of Meridian 810 Mississippi Drive Waynesboro, MS 39367 Full Service B&M $21,902
The Citizens National Bank of Meridian Highway 19 North Meridian, MS 39301 Limited, Drive-thru $22
The Citizens National Bank of Meridian 136 North Hills Street Meridian, MS 39305 Full Service B&M $84,831
The Citizens National Bank of Meridian 200 South Archusa Avenue Quitman, MS 39355 Full Service B&M $20,705
The Citizens National Bank of Meridian 2100 Highway 19 North Meridian, MS 39301 Full Service B&M $45,414
The Citizens National Bank of Meridian 2412 Highway 45 North Columbus, MS 39701 Full Service B&M $59,509
The Citizens National Bank of Meridian 305 South Van Buren Street Carthage, MS 39051 Full Service B&M $46,337
The Citizens National Bank of Meridian 313 South Jefferson Street Macon, MS 39341 Full Service B&M $56,598
The Citizens National Bank of Meridian 4599 Hardy Street Hattiesburg, MS 39402 Full Service B&M $36,649
The Citizens National Bank of Meridian 4900 Poplar Spring Drive Meridian, MS 39305 Limited, Drive-thru $12,154
The Citizens National Bank of Meridian 512 22nd Avenue Meridian, MS 39301 Full Service B&M $517,268
The Citizens National Bank of Meridian 538 Main Street Philadelphia, MS 39350 Full Service B&M $42,677
The Citizens National Bank of Meridian 5917 U.S. Highway 49 Hattiesburg, MS 39402 Full Service B&M $21,369
The Citizens National Bank of Meridian 6258 Us Highway 98 Hattiesburg, MS 39402 Full Service B&M $47,534
The Citizens National Bank of Meridian 6296 Airways Boulevard Southaven, MS 38671 Full Service B&M $26,558
The Citizens National Bank of Meridian 1015 23rd Avenue Meridian, MS 39301 Limited, Drive-thru $6,405
The Citizens National Bank of Meridian 102 Plaza Drive Brandon, MS 39047 Full Service B&M $50,580
The Citizens National Bank of Meridian 1110 Central Drive Philadelphia, MS 39350 Full Service B&M $2,900
The Citizens National Bank of Meridian 1127 Highway 15 North Laurel, MS 39440 Full Service B&M $66,129
The Citizens National Bank of Meridian 114 Grandview Boulevard Madison, MS 39110 Full Service B&M $65,281
The Citizens National Bank of Meridian 115 Lehmberg Road Columbus, MS 39702 Full Service B&M $29,008
The Citizens National Bank of Meridian 1199 Bonita Lakes Circle Meridian, MS 39301 Full Service B&M $36,005

For 2021, The Citizens National Bank Of Meridian had 27 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $55,104
Net interest income $53,072
Total noninterest income $22,698
Gross Fiduciary activities income $2,464
Service charges on deposit accounts $4,561
Trading account gains and fees $0
Additional Noninterest Income $15,673
Pre-tax net operating income $30,243
Securities gains (or losses, -) $0
Income before extraordinary items $30,243
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $30,243
Minority interest net income $0
Net income $30,243
Sale, conversion, retirement of capital stock, net $2
Net operating income $30,243

The Citizens National Bank Of Meridian's gross interest income from loans was $55,104,000.
The Citizens National Bank Of Meridian's net interest income from loans was $53,072,000.
The Citizens National Bank Of Meridian's fee based income from loans was $4,561,000.
The Citizens National Bank Of Meridian's net income from loans was $30,243,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,032
Provision for credit losses $1,160
Total noninterest expense $44,367
Salaries and employee benefits $26,269
Premises and equipment expense $4,415
Additional noninterest expense $13,683
Applicable income taxes $0
Net charge-offs $556
Cash dividends $22,402

The Citizens National Bank Of Meridian's interest expense for loans was $2,032,000.
The Citizens National Bank Of Meridian's payroll and benefits expense were $26,269,000.
The Citizens National Bank Of Meridian's property, plant and equipment expenses $4,415,000.

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 2.0%
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 $1,535,556
Deposits held in domestic offices $1,535,556
Deposits by Individuals, partnerships, and corporations $1,320,801
Deposits by U.S. Government $11
Deposits by States and political subdivisions in the U.S. $214,215
Deposits by Commercial banks and other depository institutions in U.S. $529
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $481,285
Demand deposits $333,122
Nontransaction accounts $1,054,271
Money market deposit accounts (MMDAs) $646,791
Other savings deposits (excluding MMDAs) $176,652
Total time deposits $230,828
Total time and savings deposits $1,202,434
Noninterest-bearing deposits $435,645
Interest-bearing deposits $1,099,911
Retail deposits $1,494,318
IRAs and Keogh plan accounts $29,238
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,763,795
Cash & Balances due from depository institutions $196,862
Interest-bearing balances $176,667
Total securities $475,200
Federal funds sold & reverse repurchase $100
Net loans and leases $1,017,353
Loan and leases loss allowance $14,905
Trading account assets $0
Bank premises and fixed assets $31,880
Other real estate owned $3,975
Goodwill and other intangibles $0
All other assets $38,425

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,763,795
Total Liabilities $1,589,908
Total deposits $1,535,556
Interest-bearing deposits $1,099,911
Deposits held in domestic offices $1,535,556
% insured (estimated) $69
Federal funds purchased and repurchase agreements $37,825
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $16,527

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,017,353
Loan and leases loss allowance $14,905
Total loans and leases (domestic) $1,032,258
All real estate loans $843,978
Real estate loans in domestic offices $843,978
Construction and development loans $85,888
Residential 1-4 family construction $17,836
Other construction, all land development and other land $68,052
Loans secured by nonfarm nonresidential properties $437,089
Nonfarm nonresidential secured by owner-occupied properties $202,941
Commercial real estate & other non-farm, non-residential $234,148
Multifamily residential real estate $28,375
1-4 family residential loans $290,689
Farmland loans $1,937
Loans held in foreign offices $0
Farm loans $570
Commercial and industrial loans $147,244
To non-U.S. addressees $0
Loans to individuals $19,052
Credit card loans $0
Related Plans $1,517
Consumer Auto Loans $9,353
Other loans to individuals $8,182
All other loans & leases $21,414
Loans to foreign governments and official institutions $0
Other loans $14,760
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 $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

The Citizens National Bank of Meridian had $1,017,353,000 of loans outstanding in 2021. $843,978,000 of loans were in real estate loans. $85,888,000 of loans were in development loans. $28,375,000 of loans were in multifamily mortgage loans. $290,689,000 of loans were in 1-4 family mortgage loans. $570,000 of loans were in farm loans. $0 of loans were in credit card loans. $9,353,000 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 449 $128,278 $285,697
Nonfarm, nonresidential loans - <$100k 74 $3,060 $41,351
Nonfarm, nonresidential loans - $100-250k 117 $14,812 $126,598
Nonfarm, nonresidential loans - $250k-1MM 258 $110,406 $427,930
Commercial & Industrial, US addressed loans - <$1MM 1,080 $73,659 $68,203
Commercial & Industrial, US addressed loans - <$100k 825 $18,689 $22,653
Commercial & Industrial, US addressed loans - $100-250k 153 $18,076 $118,144
Commercial & Industrial, US addressed loans - $250k-1MM 102 $36,894 $361,706
Farmland loans - <$1MM 14 $1,060 $75,714
Farmland loans - <$100k 5 $151 $30,200
Farmland loans - $100-250k 8 $721 $90,125
Farmland loans - $250k-1MM 1 $188 $188,000
Agriculture operations loans - <$1MM 5 $174 $34,800
Agriculture operations loans - <$100k 3 $68 $22,667
Agriculture operations loans - $100-250k 2 $106 $53,000