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

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