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, Memphis, Mobile, Deltona, and Paris among others. We have data for 14 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

218

Origination Dollar Volume (All Markets)

$26,010,000

Employee count

151

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)	106	$13,600,000	$128,302	$0	0.00%
Outside of Metro Areas	81	$6,225,000	$76,852	$0	0.00%
MEMPHIS, TN-MS-AR (FHA\|USDA\|VA)	7	$1,595,000	$227,857	$0	0.00%
MOBILE, AL (FHA\|USDA\|VA)	2	$1,020,000	$510,000	$0	0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$925,000	$925,000	$0	0.00%
Paris, TN (FHA\|USDA\|VA)	3	$705,000	$235,000	$0	0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	2	$690,000	$345,000	$0	0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	1	$305,000	$305,000	$0	0.00%
Martin, TN (FHA\|USDA\|VA)	4	$280,000	$70,000	$0	0.00%
Union City, TN (FHA\|USDA\|VA)	6	$250,000	$41,667	$0	0.00%
Dyersburg, TN (FHA\|USDA\|VA)	2	$180,000	$90,000	$0	0.00%
FLORENCE-MUSCLE SHOALS, AL (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	0.00%
Brownsville, TN (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	0.00%

Centennial Bank's top markets include Jackson, Memphis, Mobile, Deltona, and Paris among others.

Their top states include:

Tennessee (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Mississippi (FHA|USDA|VA)

Arkansas (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	218	$26,010,000	$119,312	$0	0.00%

For 2020, Centennial Bank's most frequently originated type of loan was Conventional, with 218 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	120	$16,320,000	$136,000	$0	0.00%
Refi	75	$8,635,000	$115,133	$0	0.00%
Home Improvement	14	$590,000	$42,143	$0	0.00%
Other	9	$465,000	$51,667	$0	0.00%

For 2020, Centennial Bank's most frequently cited loan purpose was Home Purchase, with 120 originations. The 2nd most popular reason was Refi, with 75 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	218	$26,010,000	$119,312	$0	0.00%

For 2020, Centennial Bank's most frequently cited loan duration was Other, with 218 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	143	$7,555,000	$52,832	$0	0.00%
$100k-200k	40	$5,670,000	$141,750	$0	0.00%
$200k-400k	26	$7,300,000	$280,769	$0	0.00%
$400k-600k	6	$2,730,000	$455,000	$0	0.00%
$600k-1MM	2	$1,580,000	$790,000	$0	0.00%
$1MM+	1	$1,175,000	$1,175,000	$0	0.00%

2020 saw Centennial Bank place emphasis on $100,000 or less loans with 143 originations, totaling $7,555,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	58	$3,120,000	$53,793	$0	0.00%
$50k-75k	46	$3,710,000	$80,652	$0	0.00%
$100k-150k	37	$6,285,000	$169,865	$0	0.00%
$75k-100k	34	$3,870,000	$113,824	$0	0.00%
$150k-250k	17	$3,655,000	$215,000	$0	0.00%
$250k+	8	$1,420,000	$177,500	$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 46 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	218	$26,010,000	$119,312	$0	0.00%

Centennial Bank lent most frequently to those with DTI ratios of Exempt%, with 218 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	190	$20,180,000	$106,211	$0	0.00%
Not applicable	14	$3,780,000	$270,000	$0	0.00%
Black	11	$1,475,000	$134,091	$0	0.00%
Chinese	1	$435,000	$435,000	$0	0.00%
Not provided	2	$140,000	$70,000	$0	0.00%

Approval Rates

Total approvals of all applications
91.47%

Centennial Bank has an average approval rate.

Pick Rate

Approvals leading to origination
81.19%

Centennial Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	218	$26,010,000	$119,312

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	7	$2,405,000	$343,571
Single Family (1-4 Units):Manufactured	35	$2,225,000	$63,571
Single Family (1-4 Units):Site-Built	176	$21,380,000	$121,477

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Centennial Bank	100 West Armory Trenton, TN 38382	Full Service B&M	$76,124
Centennial Bank	119 Main Street Adamsville, TN 38310	Full Service B&M	$41,710
Centennial Bank	1315 West Market Street Bolivar, TN 38008	Full Service B&M	$40,690
Centennial Bank	16830 Highland Drive Mc Kenzie, TN 38201	Full Service B&M	$31,168
Centennial Bank	294 South Main Street Middleton, TN 38052	Full Service B&M	$23,645
Centennial Bank	329 Old Medina Street Medina, TN 38355	Full Service B&M	$43,303
Centennial Bank	35 Kilgore Road Toone, TN 38381	Full Service B&M	$11,023
Centennial Bank	388 Hwy 45 W Humboldt, TN 38343	Full Service B&M	$31,940
Centennial Bank	411 West Market Street Bolivar, TN 38008	Full Service B&M	$49,732
Centennial Bank	463 North Trenton Street Rutherford, TN 38369	Full Service B&M	$43,228
Centennial Bank	5420 Broad Street South Trezevant, TN 38258	Full Service B&M	$73,177
Centennial Bank	657 East Main Street Henderson, TN 38340	Full Service B&M	$16,785
Centennial Bank	Main And Franklin Streets Henderson, TN 38340	Full Service B&M	$50,361

For 2020, Centennial Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$29,075
Net interest income	$23,862
Total noninterest income	$2,867
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,450
Trading account gains and fees	$0
Additional Noninterest Income	$1,417
Pre-tax net operating income	$6,796
Securities gains (or losses, -)	$211
Income before extraordinary items	$5,207
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,207
Minority interest net income	$0
Net income	$5,207
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$5,040

Centennial Bank's gross interest income from loans was $29,075,000.
Centennial Bank's net interest income from loans was $23,862,000.
Centennial Bank's fee based income from loans was $1,450,000.
Centennial Bank's net income from loans was $5,207,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,213
Provision for credit losses	$3,072
Total noninterest expense	$16,861
Salaries and employee benefits	$10,265
Premises and equipment expense	$1,815
Additional noninterest expense	$4,781
Applicable income taxes	$1,800
Net charge-offs	$2,336
Cash dividends	$4,150

Centennial Bank's interest expense for loans was $5,213,000.
Centennial Bank's payroll and benefits expense were $10,265,000.
Centennial Bank's property, plant and equipment expenses $1,815,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	2.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	1.0%
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	$557,493
Deposits held in domestic offices	$557,493
Deposits by Individuals, partnerships, and corporations	$506,579
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$43,201
Deposits by Commercial banks and other depository institutions in U.S.	$7,713
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$217,344
Demand deposits	$217,344
Nontransaction accounts	$340,149
Money market deposit accounts (MMDAs)	$73,755
Other savings deposits (excluding MMDAs)	$53,306
Total time deposits	$213,088
Total time and savings deposits	$340,149
Noninterest-bearing deposits	$130,945
Interest-bearing deposits	$426,548
Retail deposits	$513,414
IRAs and Keogh plan accounts	$19,778
Brokered deposits	$14,097
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$644,595
Cash & Balances due from depository institutions	$115,470
Interest-bearing balances	$75,783
Total securities	$38,867
Federal funds sold & reverse repurchase	$21,000
Net loans and leases	$430,163
Loan and leases loss allowance	$5,843
Trading account assets	$0
Bank premises and fixed assets	$10,855
Other real estate owned	$216
Goodwill and other intangibles	$8,347
All other assets	$19,677

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$644,595
Total Liabilities	$572,945
Total deposits	$557,493
Interest-bearing deposits	$426,548
Deposits held in domestic offices	$557,493
% insured (estimated)	$87
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$11,111
Subordinated debt	$0
All other liabilities	$4,341

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$430,163
Loan and leases loss allowance	$5,843
Total loans and leases (domestic)	$436,006
All real estate loans	$259,483
Real estate loans in domestic offices	$259,483
Construction and development loans	$25,908
Residential 1-4 family construction	$6,020
Other construction, all land development and other land	$19,888
Loans secured by nonfarm nonresidential properties	$98,943
Nonfarm nonresidential secured by owner-occupied properties	$52,918
Commercial real estate & other non-farm, non-residential	$46,025
Multifamily residential real estate	$5,238
1-4 family residential loans	$96,453
Farmland loans	$32,941
Loans held in foreign offices	$0
Farm loans	$19,128
Commercial and industrial loans	$67,033
To non-U.S. addressees	$0
Loans to individuals	$26,589
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$10,876
Other loans to individuals	$15,713
All other loans & leases	$63,773
Loans to foreign governments and official institutions	$0
Other loans	$63,242
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

Centennial Bank had $430,163,000 of loans outstanding in 2020. $259,483,000 of loans were in real estate loans. $25,908,000 of loans were in development loans. $5,238,000 of loans were in multifamily mortgage loans. $96,453,000 of loans were in 1-4 family mortgage loans. $19,128,000 of loans were in farm loans. $0 of loans were in credit card loans. $10,876,000 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	288	$39,283	$136,399
Nonfarm, nonresidential loans - <$100k	137	$4,633	$33,818
Nonfarm, nonresidential loans - $100-250k	61	$7,363	$120,705
Nonfarm, nonresidential loans - $250k-1MM	90	$27,287	$303,189
Commercial & Industrial, US addressed loans - <$1MM	905	$46,093	$50,931
Commercial & Industrial, US addressed loans - <$100k	749	$20,817	$27,793
Commercial & Industrial, US addressed loans - $100-250k	105	$10,424	$99,276
Commercial & Industrial, US addressed loans - $250k-1MM	51	$14,852	$291,216
Farmland loans - <$1MM	111	$9,455	$85,180
Farmland loans - <$100k	58	$1,935	$33,362
Farmland loans - $100-250k	36	$3,822	$106,167
Farmland loans - $250k-1MM	17	$3,698	$217,529
Agriculture operations loans - <$1MM	82	$4,951	$60,378
Agriculture operations loans - <$100k	53	$1,189	$22,434
Agriculture operations loans - $100-250k	20	$1,807	$90,350
Agriculture operations loans - $250k-1MM	9	$1,955	$217,222