First Southern Bank Mortgage Rates, Fees & Info

MARION, IL

LEI: 213800K8DDKEL9X4OK57

Tax ID: 37-0399785

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Mortgage Data

Bank Data

Review & Overview

First Southern Bank is a smaller bank specializing in Home Purchase and Refi loans. First Southern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Carbondale, St. Louis, Nashville, Champaign, and North Port among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Southern 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

346

Origination Dollar Volume (All Markets)

$78,540,000

Employee count

140

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
CARBONDALE-MARION, IL (FHA|USDA|VA) 278 $53,970,000 $194,137 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $17,005,000 $5,668,333 $0 0.00%
Outside of Metro Areas 52 $5,330,000 $102,500 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,000,000 $500,000 $0 0.00%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Ottumwa, IA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
JEFFERSON CITY, MO (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
IOWA CITY, IA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
ELKHART-GOSHEN, IN (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
EAU CLAIRE, WI (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
First Southern Bank's top markets include Carbondale, St. Louis, Nashville, Champaign, and North Port among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 346 $78,540,000 $226,994 $0 0.00%

    For 2020, First Southern Bank's most frequently originated type of loan was Conventional, with 346 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 139 $19,465,000 $140,036 $0 0.00%
    Refi 133 $48,095,000 $361,617 $0 0.00%
    Cash Out Refi 61 $10,335,000 $169,426 $0 0.00%
    Home Improvement 10 $460,000 $46,000 $0 0.00%
    Other 3 $185,000 $61,667 $0 0.00%

    For 2020, First Southern Bank's most frequently cited loan purpose was Home Purchase, with 139 originations. The 2nd most popular reason was Refi, with 133 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 346 $78,540,000 $226,994 $0 0.00%

    For 2020, First Southern Bank's most frequently cited loan duration was Other, with 346 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 128 $7,840,000 $61,250 $0 0.00%
    $100k-200k 128 $18,520,000 $144,688 $0 0.00%
    $200k-400k 76 $20,190,000 $265,658 $0 0.00%
    $1MM+ 6 $27,360,000 $4,560,000 $0 0.00%
    $400k-600k 4 $1,740,000 $435,000 $0 0.00%
    $600k-1MM 4 $2,890,000 $722,500 $0 0.00%

    2020 saw First Southern Bank place emphasis on $100,000 or less loans with 128 originations, totaling $7,840,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 87 $14,225,000 $163,506 $0 0.00%
    $75k-100k 55 $7,515,000 $136,636 $0 0.00%
    $50k-75k 51 $5,555,000 $108,922 $0 0.00%
    $150k-250k 41 $7,575,000 $184,756 $0 0.00%
    $50k or less 38 $2,450,000 $64,474 $0 0.00%
    $250k+ 22 $6,040,000 $274,545 $0 0.00%

    First Southern Bank lent most frequently to those with incomes in the $100k-150k range, with 87 originations. The second most popular income band? $75k-100k, with 55 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 346 $78,540,000 $226,994 $0 0.00%

    First Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 346 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 285 $42,175,000 $147,982 $0 0.00%
    Not applicable 44 $34,050,000 $773,864 $0 0.00%
    Not provided 11 $1,545,000 $140,455 $0 0.00%
    Native Hawaiian or Islander 1 $385,000 $385,000 $0 0.00%
    Asian 1 $265,000 $265,000 $0 0.00%
    Black 4 $120,000 $30,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.77%

    First Southern Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.95%

    First Southern Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 346 $78,540,000 $226,994

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $1,385,000 $461,667
    Multifamily:Site-Built 17 $29,555,000 $1,738,529
    Single Family (1-4 Units):Manufactured 19 $1,145,000 $60,263
    Single Family (1-4 Units):Site-Built 307 $46,455,000 $151,319

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 13.3%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Struggling to pay mortgage 1 6.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Southern Bank 102 Airway Drive Marion, IL 62959 Full Service B&M $17,296
    First Southern Bank 1023 Fourth Street Eldorado, IL 62930 Full Service B&M $49,365
    First Southern Bank 109 East Walnut Street Murphysboro, IL 62966 Full Service B&M $17,176
    First Southern Bank 111 Municipal Drive Carterville, IL 62918 Full Service B&M $1,802
    First Southern Bank 114 West Monroe Street Herrin, IL 62948 Full Service B&M $82,695
    First Southern Bank 1303 Marathon Drive Marion, IL 62959 Full Service B&M $33,510
    First Southern Bank 2 South Main Street Carrier Mills, IL 62917 Full Service B&M $31,769
    First Southern Bank 201 W. Blue Avenue Creal Springs, IL 62922 Full Service B&M $9,248
    First Southern Bank 204 South Main Street Royalton, IL 62983 Full Service B&M $12,011
    First Southern Bank 2500 West Murphysboro Road Carbondale, IL 62901 Full Service B&M $61,856
    First Southern Bank 300 Tower Square Marion, IL 62959 Limited, Mobile/Seasonal Office $300
    First Southern Bank 300 Tower Square Marion, IL 62959 Full Service B&M $95,246
    First Southern Bank 301 East Main Street Carbondale, IL 62901 Full Service B&M $126,774
    First Southern Bank 409 North Court Street Marion, IL 62959 Limited, Drive-thru $1,742
    First Southern Bank 628 Front Street Grand Tower, IL 62942 Full Service B&M $9,549
    First Southern Bank 801 North Carbon Street Marion, IL 62959 Full Service B&M $50,206

    For 2020, First Southern Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,000
    Net interest income $25,572
    Total noninterest income $4,159
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $812
    Trading account gains and fees $0
    Additional Noninterest Income $3,347
    Pre-tax net operating income $13,332
    Securities gains (or losses, -) $-65
    Income before extraordinary items $10,005
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,005
    Minority interest net income $0
    Net income $10,005
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,056

    First Southern Bank's gross interest income from loans was $29,000,000.
    First Southern Bank's net interest income from loans was $25,572,000.
    First Southern Bank's fee based income from loans was $812,000.
    First Southern Bank's net income from loans was $10,005,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,428
    Provision for credit losses $1,760
    Total noninterest expense $14,639
    Salaries and employee benefits $8,769
    Premises and equipment expense $1,855
    Additional noninterest expense $4,015
    Applicable income taxes $3,262
    Net charge-offs $516
    Cash dividends $4,136

    First Southern Bank's interest expense for loans was $3,428,000.
    First Southern Bank's payroll and benefits expense were $8,769,000.
    First Southern Bank's property, plant and equipment expenses $1,855,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 8.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 4.0%
    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 $629,916
    Deposits held in domestic offices $629,916
    Deposits by Individuals, partnerships, and corporations $493,411
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $95,811
    Deposits by Commercial banks and other depository institutions in U.S. $40,694
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $74,368
    Demand deposits $53,056
    Nontransaction accounts $555,548
    Money market deposit accounts (MMDAs) $17,891
    Other savings deposits (excluding MMDAs) $402,703
    Total time deposits $134,954
    Total time and savings deposits $576,860
    Noninterest-bearing deposits $53,056
    Interest-bearing deposits $576,860
    Retail deposits $619,336
    IRAs and Keogh plan accounts $9,480
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $763,565
    Cash & Balances due from depository institutions $25,897
    Interest-bearing balances $10,063
    Total securities $184,738
    Federal funds sold & reverse repurchase $6,820
    Net loans and leases $511,418
    Loan and leases loss allowance $4,599
    Trading account assets $0
    Bank premises and fixed assets $9,503
    Other real estate owned $323
    Goodwill and other intangibles $12,377
    All other assets $12,489

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $763,565
    Total Liabilities $658,443
    Total deposits $629,916
    Interest-bearing deposits $576,860
    Deposits held in domestic offices $629,916
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $20,663
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $3,864

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $511,418
    Loan and leases loss allowance $4,599
    Total loans and leases (domestic) $516,017
    All real estate loans $389,393
    Real estate loans in domestic offices $389,393
    Construction and development loans $50,159
    Residential 1-4 family construction $4,021
    Other construction, all land development and other land $46,138
    Loans secured by nonfarm nonresidential properties $189,097
    Nonfarm nonresidential secured by owner-occupied properties $86,380
    Commercial real estate & other non-farm, non-residential $102,717
    Multifamily residential real estate $31,958
    1-4 family residential loans $102,984
    Farmland loans $15,195
    Loans held in foreign offices $0
    Farm loans $1,309
    Commercial and industrial loans $70,546
    To non-U.S. addressees $0
    Loans to individuals $47,603
    Credit card loans $0
    Related Plans $56
    Consumer Auto Loans $1,064
    Other loans to individuals $46,483
    All other loans & leases $7,166
    Loans to foreign governments and official institutions $0
    Other loans $1,201
    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 $1,063
    Non 1-4 family restructured loans & leases $1,063
    Total loans and leases (foreign) $0

    FIRST SOUTHERN BANK had $511,418,000 of loans outstanding in 2020. $389,393,000 of loans were in real estate loans. $50,159,000 of loans were in development loans. $31,958,000 of loans were in multifamily mortgage loans. $102,984,000 of loans were in 1-4 family mortgage loans. $1,309,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,064,000 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 366 $59,510 $162,596
    Nonfarm, nonresidential loans - <$100k 149 $7,921 $53,161
    Nonfarm, nonresidential loans - $100-250k 115 $12,757 $110,930
    Nonfarm, nonresidential loans - $250k-1MM 102 $38,832 $380,706
    Commercial & Industrial, US addressed loans - <$1MM 698 $41,770 $59,842
    Commercial & Industrial, US addressed loans - <$100k 533 $13,069 $24,520
    Commercial & Industrial, US addressed loans - $100-250k 94 $10,314 $109,723
    Commercial & Industrial, US addressed loans - $250k-1MM 71 $18,387 $258,972
    Farmland loans - <$1MM 49 $5,637 $115,041
    Farmland loans - <$100k 24 $1,609 $67,042
    Farmland loans - $100-250k 13 $1,408 $108,308
    Farmland loans - $250k-1MM 12 $2,620 $218,333
    Agriculture operations loans - <$1MM 11 $808 $73,455
    Agriculture operations loans - <$100k 8 $142 $17,750
    Agriculture operations loans - $100-250k 2 $390 $195,000
    Agriculture operations loans - $250k-1MM 1 $276 $276,000