Centennial Bank Mortgage Rates, Fees & Info

Trezevant, TN

LEI: 549300YR7U7TZTQ1GH77

Tax ID: 62-0198140

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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, Nashville, Paris, and Mobile among others. We have data for 12 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.

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Originations

246

Origination Dollar Volume (All Markets)

$23,360,000

Employee count

152

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) 128 $13,380,000 $104,531 $0 0.00%
Outside of Metro Areas 85 $5,735,000 $67,471 $0 0.00%
Martin, TN (FHA|USDA|VA) 12 $1,220,000 $101,667 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $685,000 $685,000 $0 0.00%
Paris, TN (FHA|USDA|VA) 5 $535,000 $107,000 $0 0.00%
MOBILE, AL (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Union City, TN (FHA|USDA|VA) 7 $305,000 $43,571 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Dyersburg, TN (FHA|USDA|VA) 3 $255,000 $85,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Centennial Bank's top markets include Jackson, Martin, Nashville, Paris, and Mobile among others.

Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Mississippi (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 246 $23,360,000 $94,959 $0 0.00%

    For 2019, Centennial Bank's most frequently originated type of loan was Conventional, with 246 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 127 $15,615,000 $122,953 $0 0.00%
    Refi 73 $5,625,000 $77,055 $0 0.00%
    Home Improvement 27 $1,185,000 $43,889 $0 0.00%
    Other 19 $935,000 $49,211 $0 0.00%

    For 2019, Centennial Bank's most frequently cited loan purpose was Home Purchase, with 127 originations. The 2nd most popular reason was Refi, with 73 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 246 $23,360,000 $94,959 $0 0.00%

    For 2019, Centennial Bank's most frequently cited loan duration was Other, with 246 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 175 $8,005,000 $45,743 $0 0.00%
    $100k-200k 42 $5,650,000 $134,524 $0 0.00%
    $200k-400k 24 $6,640,000 $276,667 $0 0.00%
    $400k-600k 3 $1,375,000 $458,333 $0 0.00%
    $1MM+ 1 $1,005,000 $1,005,000 $0 0.00%
    $600k-1MM 1 $685,000 $685,000 $0 0.00%

    2019 saw Centennial Bank place emphasis on $100,000 or less loans with 175 originations, totaling $8,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 86 $4,280,000 $49,767 $0 0.00%
    $50k-75k 52 $3,280,000 $63,077 $0 0.00%
    $100k-150k 38 $4,330,000 $113,947 $0 0.00%
    $75k-100k 24 $2,680,000 $111,667 $0 0.00%
    $150k-250k 19 $3,415,000 $179,737 $0 0.00%
    $250k+ 10 $2,520,000 $252,000 $0 0.00%

    Centennial Bank lent most frequently to those with incomes in the $50k or less range, with 86 originations. The second most popular income band? $50k-75k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 246 $23,360,000 $94,959 $0 0.00%

    Centennial Bank lent most frequently to those with DTI ratios of Exempt%, with 246 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 218 $19,820,000 $90,917 $0 0.00%
    Not applicable 13 $2,605,000 $200,385 $0 0.00%
    Black 14 $880,000 $62,857 $0 0.00%
    Not provided 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.00%

    Centennial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.40%

    Centennial Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 246 $23,360,000 $94,959

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $2,015,000 $403,000
    Single Family (1-4 Units):Manufactured 32 $1,310,000 $40,938
    Single Family (1-4 Units):Site-Built 209 $20,035,000 $95,861

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Centennial Bank 100 West Armory Trenton, TN 38382 Full Service B&M $64,970
    Centennial Bank 1315 West Market Street Bolivar, TN 38008 Full Service B&M $36,727
    Centennial Bank 16830 Highland Drive Mc Kenzie, TN 38201 Full Service B&M $28,416
    Centennial Bank 294 South Main Street Middleton, TN 38052 Full Service B&M $19,076
    Centennial Bank 329 Old Medina Street Medina, TN 38355 Full Service B&M $40,162
    Centennial Bank 35 Kilgore Road Toone, TN 38381 Full Service B&M $10,051
    Centennial Bank 388 Hwy 45 W Humboldt, TN 38343 Full Service B&M $27,953
    Centennial Bank 411 West Market Street Bolivar, TN 38008 Full Service B&M $44,888
    Centennial Bank 463 North Trenton Street Rutherford, TN 38369 Full Service B&M $40,826
    Centennial Bank 5420 Broad Street South Trezevant, TN 38258 Full Service B&M $85,484

    For 2019, Centennial Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,241
    Net interest income $22,760
    Total noninterest income $4,060
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,763
    Trading account gains and fees $0
    Additional Noninterest Income $2,297
    Pre-tax net operating income $7,762
    Securities gains (or losses, -) $1
    Income before extraordinary items $5,802
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,802
    Minority interest net income $0
    Net income $5,802
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,801

    Centennial Bank's gross interest income from loans was $28,241,000.
    Centennial Bank's net interest income from loans was $22,760,000.
    Centennial Bank's fee based income from loans was $1,763,000.
    Centennial Bank's net income from loans was $5,802,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,481
    Provision for credit losses $2,749
    Total noninterest expense $16,309
    Salaries and employee benefits $9,391
    Premises and equipment expense $1,726
    Additional noninterest expense $5,192
    Applicable income taxes $1,961
    Net charge-offs $3,060
    Cash dividends $8,025

    Centennial Bank's interest expense for loans was $5,481,000.
    Centennial Bank's payroll and benefits expense were $9,391,000.
    Centennial Bank's property, plant and equipment expenses $1,726,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 3.0%
    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 $497,369
    Deposits held in domestic offices $497,369
    Deposits by Individuals, partnerships, and corporations $443,957
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $37,845
    Deposits by Commercial banks and other depository institutions in U.S. $15,567
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $170,629
    Demand deposits $170,629
    Nontransaction accounts $326,740
    Money market deposit accounts (MMDAs) $67,526
    Other savings deposits (excluding MMDAs) $46,643
    Total time deposits $212,571
    Total time and savings deposits $326,740
    Noninterest-bearing deposits $99,309
    Interest-bearing deposits $398,060
    Retail deposits $451,370
    IRAs and Keogh plan accounts $19,586
    Brokered deposits $18,009
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $587,205
    Cash & Balances due from depository institutions $54,562
    Interest-bearing balances $49,451
    Total securities $53,781
    Federal funds sold & reverse repurchase $15,500
    Net loans and leases $422,482
    Loan and leases loss allowance $5,106
    Trading account assets $0
    Bank premises and fixed assets $11,505
    Other real estate owned $845
    Goodwill and other intangibles $9,529
    All other assets $19,001

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $587,205
    Total Liabilities $516,978
    Total deposits $497,369
    Interest-bearing deposits $398,060
    Deposits held in domestic offices $497,369
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,263
    Subordinated debt $0
    All other liabilities $4,346

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $422,482
    Loan and leases loss allowance $5,106
    Total loans and leases (domestic) $427,588
    All real estate loans $273,281
    Real estate loans in domestic offices $273,281
    Construction and development loans $32,168
    Residential 1-4 family construction $6,631
    Other construction, all land development and other land $25,537
    Loans secured by nonfarm nonresidential properties $94,708
    Nonfarm nonresidential secured by owner-occupied properties $58,236
    Commercial real estate & other non-farm, non-residential $36,472
    Multifamily residential real estate $5,290
    1-4 family residential loans $104,157
    Farmland loans $36,958
    Loans held in foreign offices $0
    Farm loans $19,780
    Commercial and industrial loans $65,220
    To non-U.S. addressees $0
    Loans to individuals $30,122
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $11,633
    Other loans to individuals $18,489
    All other loans & leases $39,185
    Loans to foreign governments and official institutions $0
    Other loans $38,585
    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 $65
    Non 1-4 family restructured loans & leases $65
    Total loans and leases (foreign) $0

    Centennial Bank had $422,482,000 of loans outstanding in 2019. $273,281,000 of loans were in real estate loans. $32,168,000 of loans were in development loans. $5,290,000 of loans were in multifamily mortgage loans. $104,157,000 of loans were in 1-4 family mortgage loans. $19,780,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,633,000 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 327 $45,551 $139,300
    Nonfarm, nonresidential loans - <$100k 160 $5,379 $33,619
    Nonfarm, nonresidential loans - $100-250k 68 $8,814 $129,618
    Nonfarm, nonresidential loans - $250k-1MM 99 $31,358 $316,747
    Commercial & Industrial, US addressed loans - <$1MM 694 $41,734 $60,135
    Commercial & Industrial, US addressed loans - <$100k 532 $15,099 $28,382
    Commercial & Industrial, US addressed loans - $100-250k 117 $11,181 $95,564
    Commercial & Industrial, US addressed loans - $250k-1MM 45 $15,454 $343,422
    Farmland loans - <$1MM 125 $11,095 $88,760
    Farmland loans - <$100k 68 $2,297 $33,779
    Farmland loans - $100-250k 37 $4,328 $116,973
    Farmland loans - $250k-1MM 20 $4,470 $223,500
    Agriculture operations loans - <$1MM 97 $5,680 $58,557
    Agriculture operations loans - <$100k 62 $1,365 $22,016
    Agriculture operations loans - $100-250k 25 $2,522 $100,880
    Agriculture operations loans - $250k-1MM 10 $1,793 $179,300