Centennial Bank Mortgage Rates, Fees & Info

Trezevant, TN

LEI: 549300YR7U7TZTQ1GH77

Tax ID: 62-0198140

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Bank Data

Review & Overview

Centennial Bank is a smaller bank specializing in Home Purchase and Refi loans. Centennial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Martin, Union City, Paris, and Panama City among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Centennial 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.

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.


Originations

169

Origination Dollar Volume (All Markets)

$17,135,000

Employee count

125

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
JACKSON, TN (FHA|USDA|VA) 102 $12,420,000 $121,765 $0 0.00%
Outside of Metro Areas 44 $2,980,000 $67,727 $0 0.00%
Martin, TN (FHA|USDA|VA) 7 $575,000 $82,143 $0 0.00%
Union City, TN (FHA|USDA|VA) 6 $340,000 $56,667 $0 0.00%
Paris, TN (FHA|USDA|VA) 5 $275,000 $55,000 $0 0.00%
PANAMA CITY, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Dyersburg, TN (FHA|USDA|VA) 2 $140,000 $70,000 $0 0.00%
Brownsville, TN (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Centennial Bank's top markets include Jackson, Martin, Union City, Paris, and Panama City among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 169 $17,135,000 $101,391 $0 0.00%

    For 2018, Centennial Bank's most frequently originated type of loan was Conventional, with 169 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 93 $9,575,000 $102,957 $0 0.00%
    Refi 52 $6,670,000 $128,269 $0 0.00%
    Other 16 $580,000 $36,250 $0 0.00%
    Home Improvement 6 $180,000 $30,000 $0 0.00%
    Cash Out Refi 2 $130,000 $65,000 $0 0.00%

    For 2018, Centennial Bank's most frequently cited loan purpose was Home Purchase, with 93 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 169 $17,135,000 $101,391 $0 0.00%

    For 2018, Centennial Bank's most frequently cited loan duration was Other, with 169 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 119 $5,725,000 $48,109 $0 0.00%
    $100k-200k 32 $4,610,000 $144,063 $0 0.00%
    $200k-400k 16 $4,010,000 $250,625 $0 0.00%
    $1MM+ 1 $2,195,000 $2,195,000 $0 0.00%
    $400k-600k 1 $595,000 $595,000 $0 0.00%

    2018 saw Centennial Bank place emphasis on $100,000 or less loans with 119 originations, totaling $5,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 58 $3,170,000 $54,655 $0 0.00%
    $50k-75k 39 $3,305,000 $84,744 $0 0.00%
    $75k-100k 23 $2,495,000 $108,478 $0 0.00%
    $100k-150k 21 $2,205,000 $105,000 $0 0.00%
    $150k-250k 9 $1,235,000 $137,222 $0 0.00%
    $250k+ 1 $145,000 $145,000 $0 0.00%

    Centennial Bank lent most frequently to those with incomes in the $50k or less range, with 58 originations. The second most popular income band? $50k-75k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 169 $17,135,000 $101,391 $0 0.00%

    Centennial Bank lent most frequently to those with DTI ratios of Exempt%, with 169 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 139 $11,625,000 $83,633 $0 0.00%
    Not applicable 14 $4,260,000 $304,286 $0 0.00%
    Black 11 $885,000 $80,455 $0 0.00%
    Asian 2 $250,000 $125,000 $0 0.00%
    Not provided 2 $70,000 $35,000 $0 0.00%
    Asian Indian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.52%

    Centennial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.17%

    Centennial Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 169 $17,135,000 $101,391

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,365,000 $673,000
    Single Family (1-4 Units):Manufactured 24 $1,240,000 $51,667
    Single Family (1-4 Units):Site-Built 140 $12,530,000 $89,500

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Centennial Bank 100 West Armory Trenton, TN 38382 Full Service B&M $66,499
    Centennial Bank 107 West Armory Street Trenton, TN 38382 Full Service B&M $0
    Centennial Bank 1315 West Market Street Bolivar, TN 38008 Full Service B&M $38,121
    Centennial Bank 16830 Highland Drive Mc Kenzie, TN 38201 Full Service B&M $24,561
    Centennial Bank 294 South Main Street Middleton, TN 38052 Full Service B&M $18,612
    Centennial Bank 329 Old Medina Street Medina, TN 38355 Full Service B&M $41,001
    Centennial Bank 35 Kilgore Road Toone, TN 38381 Full Service B&M $10,015
    Centennial Bank 388 Hwy 45 W Humboldt, TN 38343 Full Service B&M $29,349
    Centennial Bank 411 West Market Street Bolivar, TN 38008 Full Service B&M $44,511
    Centennial Bank 463 North Trenton Street Rutherford, TN 38369 Full Service B&M $40,999
    Centennial Bank 5420 Broad Street South Trezevant, TN 38258 Full Service B&M $69,809

    For 2018, Centennial Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,080
    Net interest income $20,609
    Total noninterest income $3,416
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,425
    Trading account gains and fees $0
    Additional Noninterest Income $1,991
    Pre-tax net operating income $7,265
    Securities gains (or losses, -) $-19
    Income before extraordinary items $5,350
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,350
    Minority interest net income $0
    Net income $5,350
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,365

    Centennial Bank's gross interest income from loans was $24,080,000.
    Centennial Bank's net interest income from loans was $20,609,000.
    Centennial Bank's fee based income from loans was $1,425,000.
    Centennial Bank's net income from loans was $5,350,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,471
    Provision for credit losses $1,608
    Total noninterest expense $15,152
    Salaries and employee benefits $8,243
    Premises and equipment expense $1,658
    Additional noninterest expense $5,251
    Applicable income taxes $1,896
    Net charge-offs $1,182
    Cash dividends $4,400

    Centennial Bank's interest expense for loans was $3,471,000.
    Centennial Bank's payroll and benefits expense were $8,243,000.
    Centennial Bank's property, plant and equipment expenses $1,658,000.

    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 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $387,975
    Deposits held in domestic offices $387,975
    Deposits by Individuals, partnerships, and corporations $350,066
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $24,595
    Deposits by Commercial banks and other depository institutions in U.S. $13,314
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $119,175
    Demand deposits $119,175
    Nontransaction accounts $268,800
    Money market deposit accounts (MMDAs) $73,587
    Other savings deposits (excluding MMDAs) $29,298
    Total time deposits $165,914
    Total time and savings deposits $268,800
    Noninterest-bearing deposits $62,556
    Interest-bearing deposits $325,419
    Retail deposits $351,643
    IRAs and Keogh plan accounts $16,150
    Brokered deposits $18,109
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $463,407
    Cash & Balances due from depository institutions $40,875
    Interest-bearing balances $20,167
    Total securities $25,327
    Federal funds sold & reverse repurchase $0
    Net loans and leases $364,487
    Loan and leases loss allowance $5,402
    Trading account assets $0
    Bank premises and fixed assets $10,648
    Other real estate owned $623
    Goodwill and other intangibles $4,701
    All other assets $16,746

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $463,407
    Total Liabilities $411,042
    Total deposits $387,975
    Interest-bearing deposits $325,419
    Deposits held in domestic offices $387,975
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $18,598
    Subordinated debt $0
    All other liabilities $4,469

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $364,487
    Loan and leases loss allowance $5,402
    Total loans and leases (domestic) $369,889
    All real estate loans $237,583
    Real estate loans in domestic offices $237,583
    Construction and development loans $23,152
    Residential 1-4 family construction $5,297
    Other construction, all land development and other land $17,855
    Loans secured by nonfarm nonresidential properties $84,197
    Nonfarm nonresidential secured by owner-occupied properties $51,333
    Commercial real estate & other non-farm, non-residential $32,864
    Multifamily residential real estate $6,037
    1-4 family residential loans $89,832
    Farmland loans $34,365
    Loans held in foreign offices $0
    Farm loans $16,753
    Commercial and industrial loans $60,739
    To non-U.S. addressees $0
    Loans to individuals $27,097
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $10,588
    Other loans to individuals $16,509
    All other loans & leases $27,717
    Loans to foreign governments and official institutions $0
    Other loans $27,046
    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 $194
    Non 1-4 family restructured loans & leases $150
    Total loans and leases (foreign) $0

    Centennial Bank had $364,487,000 of loans outstanding in 2018. $237,583,000 of loans were in real estate loans. $23,152,000 of loans were in development loans. $6,037,000 of loans were in multifamily mortgage loans. $89,832,000 of loans were in 1-4 family mortgage loans. $16,753,000 of loans were in farm loans. $0 of loans were in credit card loans. $10,588,000 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 232 $36,245 $156,228
    Nonfarm, nonresidential loans - <$100k 100 $3,499 $34,990
    Nonfarm, nonresidential loans - $100-250k 53 $6,890 $130,000
    Nonfarm, nonresidential loans - $250k-1MM 79 $25,856 $327,291
    Commercial & Industrial, US addressed loans - <$1MM 624 $37,978 $60,862
    Commercial & Industrial, US addressed loans - <$100k 466 $13,165 $28,251
    Commercial & Industrial, US addressed loans - $100-250k 117 $11,349 $97,000
    Commercial & Industrial, US addressed loans - $250k-1MM 41 $13,464 $328,390
    Farmland loans - <$1MM 105 $9,994 $95,181
    Farmland loans - <$100k 52 $1,891 $36,365
    Farmland loans - $100-250k 34 $4,075 $119,853
    Farmland loans - $250k-1MM 19 $4,028 $212,000
    Agriculture operations loans - <$1MM 63 $3,700 $58,730
    Agriculture operations loans - <$100k 39 $955 $24,487
    Agriculture operations loans - $100-250k 17 $1,637 $96,294
    Agriculture operations loans - $250k-1MM 7 $1,108 $158,286