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, Refi, and Cash Out Refi loans. First Southern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Carbondale, North Port, Naples, and St. Louis among others. We have data for 5 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

261

Origination Dollar Volume (All Markets)

$38,845,000

Employee count

131

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) 219 $32,765,000 $149,612 $0 0.00%
Outside of Metro Areas 38 $4,400,000 $115,789 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $885,000 $885,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $350,000 $175,000 $0 0.00%
First Southern Bank's top markets include Carbondale, North Port, Naples, and St. Louis among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 261 $38,845,000 $148,831 $0 0.00%

    For 2021, First Southern Bank's most frequently originated type of loan was Conventional, with 261 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 108 $17,310,000 $160,278 $0 0.00%
    Refi 87 $12,125,000 $139,368 $0 0.00%
    Cash Out Refi 58 $9,040,000 $155,862 $0 0.00%
    Home Improvement 8 $370,000 $46,250 $0 0.00%

    For 2021, First Southern Bank's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Refi, with 87 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 261 $38,845,000 $148,831 $0 0.00%

    For 2021, First Southern Bank's most frequently cited loan duration was Other, with 261 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 107 $6,245,000 $58,364 $0 0.00%
    $100k-200k 92 $13,000,000 $141,304 $0 0.00%
    $200k-400k 50 $13,140,000 $262,800 $0 0.00%
    $400k-600k 9 $4,285,000 $476,111 $0 0.00%
    $600k-1MM 3 $2,175,000 $725,000 $0 0.00%

    2021 saw First Southern Bank place emphasis on $100,000 or less loans with 107 originations, totaling $6,245,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 58 $6,390,000 $110,172 $0 0.00%
    $100k-150k 46 $7,350,000 $159,783 $0 0.00%
    $75k-100k 39 $4,845,000 $124,231 $0 0.00%
    $150k-250k 33 $7,115,000 $215,606 $0 0.00%
    $250k+ 19 $4,935,000 $259,737 $0 0.00%
    $50k or less 19 $1,715,000 $90,263 $0 0.00%

    First Southern Bank lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $100k-150k, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 261 $38,845,000 $148,831 $0 0.00%

    First Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 261 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 218 $32,740,000 $150,183 $0 0.00%
    Not applicable 35 $5,115,000 $146,143 $0 0.00%
    Asian 2 $340,000 $170,000 $0 0.00%
    Black 3 $325,000 $108,333 $0 0.00%
    Asian Indian 1 $155,000 $155,000 $0 0.00%
    American Indian 1 $85,000 $85,000 $0 0.00%
    Not provided 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.01%

    First Southern Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.44%

    First Southern Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 261 $38,845,000 $148,831

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    261 $38,845,000 $148,831

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 2.9%
    FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 2 5.9%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
    FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 2.9%
    FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 5.9%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 10 29.4%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.9%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 6 17.6%
    FIRST HORIZON BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
    FIRST HORIZON BANK FHA mortgage Closing on a mortgage 1 2.9%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 5.9%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 5.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Southern Bank 102 Airway Drive Marion, IL 62959 Full Service B&M $18,014
    First Southern Bank 1023 Fourth Street Eldorado, IL 62930 Full Service B&M $51,416
    First Southern Bank 109 East Walnut Street Murphysboro, IL 62966 Full Service B&M $17,889
    First Southern Bank 111 Municipal Drive Carterville, IL 62918 Full Service B&M $1,877
    First Southern Bank 114 West Monroe Street Herrin, IL 62948 Full Service B&M $86,131
    First Southern Bank 1303 Marathon Drive Marion, IL 62959 Full Service B&M $34,903
    First Southern Bank 2 South Main Street Carrier Mills, IL 62917 Full Service B&M $33,089
    First Southern Bank 201 W. Blue Avenue Creal Springs, IL 62922 Full Service B&M $9,633
    First Southern Bank 204 South Main Street Royalton, IL 62983 Full Service B&M $12,510
    First Southern Bank 2500 West Murphysboro Road Carbondale, IL 62901 Full Service B&M $64,427
    First Southern Bank 300 Tower Square Marion, IL 62959 Limited, Mobile/Seasonal Office $313
    First Southern Bank 300 Tower Square Marion, IL 62959 Full Service B&M $99,204
    First Southern Bank 301 East Main Street Carbondale, IL 62901 Full Service B&M $132,043
    First Southern Bank 409 North Court Street Marion, IL 62959 Limited, Drive-thru $1,814
    First Southern Bank 628 Front Street Grand Tower, IL 62942 Full Service B&M $9,945
    First Southern Bank 801 North Carbon Street Marion, IL 62959 Full Service B&M $52,292

    For 2021, First Southern Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,151
    Net interest income $25,193
    Total noninterest income $3,954
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $807
    Trading account gains and fees $0
    Additional Noninterest Income $3,147
    Pre-tax net operating income $13,539
    Securities gains (or losses, -) $-61
    Income before extraordinary items $10,382
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,382
    Minority interest net income $0
    Net income $10,382
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,430

    First Southern Bank's gross interest income from loans was $27,151,000.
    First Southern Bank's net interest income from loans was $25,193,000.
    First Southern Bank's fee based income from loans was $807,000.
    First Southern Bank's net income from loans was $10,382,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,958
    Provision for credit losses $700
    Total noninterest expense $14,908
    Salaries and employee benefits $8,853
    Premises and equipment expense $1,817
    Additional noninterest expense $4,238
    Applicable income taxes $3,096
    Net charge-offs $490
    Cash dividends $4,748

    First Southern Bank's interest expense for loans was $1,958,000.
    First Southern Bank's payroll and benefits expense were $8,853,000.
    First Southern Bank's property, plant and equipment expenses $1,817,000.

    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 0.0%
    Multifamily residential loans 9.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 3.0%
    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 $651,750
    Deposits held in domestic offices $651,750
    Deposits by Individuals, partnerships, and corporations $527,746
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $110,861
    Deposits by Commercial banks and other depository institutions in U.S. $13,143
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $76,736
    Demand deposits $54,883
    Nontransaction accounts $575,014
    Money market deposit accounts (MMDAs) $20,335
    Other savings deposits (excluding MMDAs) $461,711
    Total time deposits $92,968
    Total time and savings deposits $596,867
    Noninterest-bearing deposits $54,883
    Interest-bearing deposits $596,867
    Retail deposits $640,445
    IRAs and Keogh plan accounts $8,333
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $795,509
    Cash & Balances due from depository institutions $18,173
    Interest-bearing balances $5,170
    Total securities $250,068
    Federal funds sold & reverse repurchase $11,270
    Net loans and leases $481,596
    Loan and leases loss allowance $4,809
    Trading account assets $0
    Bank premises and fixed assets $9,218
    Other real estate owned $479
    Goodwill and other intangibles $12,176
    All other assets $12,529

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $795,509
    Total Liabilities $687,665
    Total deposits $651,750
    Interest-bearing deposits $596,867
    Deposits held in domestic offices $651,750
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $29,278
    Trading liabilities $0
    Other borrowed funds $3,000
    Subordinated debt $0
    All other liabilities $3,637

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $481,596
    Loan and leases loss allowance $4,809
    Total loans and leases (domestic) $486,405
    All real estate loans $381,966
    Real estate loans in domestic offices $381,966
    Construction and development loans $47,740
    Residential 1-4 family construction $4,370
    Other construction, all land development and other land $43,370
    Loans secured by nonfarm nonresidential properties $192,207
    Nonfarm nonresidential secured by owner-occupied properties $78,537
    Commercial real estate & other non-farm, non-residential $113,670
    Multifamily residential real estate $31,251
    1-4 family residential loans $96,459
    Farmland loans $14,309
    Loans held in foreign offices $0
    Farm loans $977
    Commercial and industrial loans $49,095
    To non-U.S. addressees $0
    Loans to individuals $43,737
    Credit card loans $0
    Related Plans $82
    Consumer Auto Loans $1,025
    Other loans to individuals $42,630
    All other loans & leases $10,630
    Loans to foreign governments and official institutions $0
    Other loans $1,101
    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 $1,066
    Non 1-4 family restructured loans & leases $1,066
    Total loans and leases (foreign) $0

    FIRST SOUTHERN BANK had $481,596,000 of loans outstanding in 2021. $381,966,000 of loans were in real estate loans. $47,740,000 of loans were in development loans. $31,251,000 of loans were in multifamily mortgage loans. $96,459,000 of loans were in 1-4 family mortgage loans. $977,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,025,000 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 355 $48,703 $137,192
    Nonfarm, nonresidential loans - <$100k 148 $7,857 $53,088
    Nonfarm, nonresidential loans - $100-250k 114 $12,288 $107,789
    Nonfarm, nonresidential loans - $250k-1MM 93 $28,558 $307,075
    Commercial & Industrial, US addressed loans - <$1MM 384 $38,034 $99,047
    Commercial & Industrial, US addressed loans - <$100k 260 $7,853 $30,204
    Commercial & Industrial, US addressed loans - $100-250k 66 $7,574 $114,758
    Commercial & Industrial, US addressed loans - $250k-1MM 58 $22,607 $389,776
    Farmland loans - <$1MM 49 $4,892 $99,837
    Farmland loans - <$100k 34 $1,583 $46,559
    Farmland loans - $100-250k 11 $1,695 $154,091
    Farmland loans - $250k-1MM 4 $1,614 $403,500
    Agriculture operations loans - <$1MM 14 $977 $69,786
    Agriculture operations loans - <$100k 11 $111 $10,091
    Agriculture operations loans - $100-250k 2 $377 $188,500
    Agriculture operations loans - $250k-1MM 1 $489 $489,000