Owen County State Bank Mortgage Rates, Fees & Info

Spencer, IN

LEI: 54930004Z0FN1LYUET14

Tax ID: 35-0564480

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Owen County State Bank is a smaller bank specializing in Home Purchase loans. Owen County State Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Bloomington, Indianapolis, Terre Haute, Louisville, and Bedford among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Owen County State Bank has an 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.

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    Originations

    186

    Origination Dollar Volume (All Markets)

    $25,830,000

    Employee count

    69

    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
    BLOOMINGTON, IN (FHA|USDA|VA) 112 $15,880,000 $141,786 $0 0.00%
    Outside of Metro Areas 41 $5,055,000 $123,293 $0 0.00%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 13 $1,785,000 $137,308 $0 0.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 9 $1,175,000 $130,556 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 3 $895,000 $298,333 $0 0.00%
    Bedford, IN (FHA|USDA|VA) 6 $670,000 $111,667 $0 0.00%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    COLUMBUS, IN (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    Owen County State Bank's top markets include Bloomington, Indianapolis, Terre Haute, Louisville, and Bedford among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 185 $25,535,000 $138,027 $0 0.00%
    FHA 1 $295,000 $295,000 $0 0.00%

    For 2018, Owen County State Bank's most frequently originated type of loan was Conventional, with 185 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 108 $16,400,000 $151,852 $0 0.00%
    Cash Out Refi 31 $3,635,000 $117,258 $0 0.00%
    Refi 24 $3,970,000 $165,417 $0 0.00%
    Home Improvement 13 $1,285,000 $98,846 $0 0.00%
    Other 10 $540,000 $54,000 $0 0.00%

    For 2018, Owen County State Bank's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 186 $25,830,000 $138,871 $0 0.00%

    For 2018, Owen County State Bank's most frequently cited loan duration was Other, with 186 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 82 $4,720,000 $57,561 $0 0.00%
    $100k-200k 70 $9,860,000 $140,857 $0 0.00%
    $200k-400k 28 $7,670,000 $273,929 $0 0.00%
    $400k-600k 4 $1,900,000 $475,000 $0 0.00%
    $600k-1MM 2 $1,680,000 $840,000 $0 0.00%

    2018 saw Owen County State Bank place emphasis on $100,000 or less loans with 82 originations, totaling $4,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 50 $3,870,000 $77,400 $0 0.00%
    $50k-75k 49 $5,575,000 $113,776 $0 0.00%
    $75k-100k 26 $3,490,000 $134,231 $0 0.00%
    $100k-150k 23 $3,705,000 $161,087 $0 0.00%
    $150k-250k 16 $4,680,000 $292,500 $0 0.00%
    $250k+ 3 $375,000 $125,000 $0 0.00%

    Owen County State Bank lent most frequently to those with incomes in the $50k or less range, with 50 originations. The second most popular income band? $50k-75k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 186 $25,830,000 $138,871 $0 0.00%

    Owen County State Bank lent most frequently to those with DTI ratios of Exempt%, with 186 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 175 $22,915,000 $130,943 $0 0.00%
    Not applicable 10 $2,720,000 $272,000 $0 0.00%
    Other Asian 1 $195,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.34%

    Owen County State Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    69.89%

    Owen County State Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 186 $25,830,000 $138,871

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $560,000 $280,000
    Multifamily:Site-Built 2 $1,240,000 $620,000
    Single Family (1-4 Units):Manufactured 25 $1,655,000 $66,200
    Single Family (1-4 Units):Site-Built 157 $22,375,000 $142,516

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Owen County State Bank 1600 A Street N.E. Suite 25 Linton, IN 47441 Full Service B&M $5,941
    Owen County State Bank 201 West Morgan Street Spencer, IN 47460 Full Service B&M $130,525
    Owen County State Bank 2421 South Walnut Street Bloomington, IN 47401 Full Service B&M $15,814
    Owen County State Bank 3419 West State Road 46 Bloomington, IN 47401 Full Service B&M $19,018
    Owen County State Bank West Main Street Gosport, IN 47433 Full Service B&M $12,203

    For 2018, Owen County State Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,606
    Net interest income $8,178
    Total noninterest income $1,691
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $646
    Trading account gains and fees $0
    Additional Noninterest Income $1,045
    Pre-tax net operating income $2,391
    Securities gains (or losses, -) $-6
    Income before extraordinary items $1,814
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,814
    Minority interest net income $0
    Net income $1,814
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,818

    Owen County State Bank's gross interest income from loans was $9,606,000.
    Owen County State Bank's net interest income from loans was $8,178,000.
    Owen County State Bank's fee based income from loans was $646,000.
    Owen County State Bank's net income from loans was $1,814,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,428
    Provision for credit losses $90
    Total noninterest expense $7,388
    Salaries and employee benefits $4,405
    Premises and equipment expense $1,074
    Additional noninterest expense $1,909
    Applicable income taxes $571
    Net charge-offs $27
    Cash dividends $825

    Owen County State Bank's interest expense for loans was $1,428,000.
    Owen County State Bank's payroll and benefits expense were $4,405,000.
    Owen County State Bank's property, plant and equipment expenses $1,074,000.

    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 9.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    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 $185,073
    Deposits held in domestic offices $185,073
    Deposits by Individuals, partnerships, and corporations $158,884
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,006
    Deposits by Commercial banks and other depository institutions in U.S. $183
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $82,334
    Demand deposits $43,546
    Nontransaction accounts $102,739
    Money market deposit accounts (MMDAs) $23,150
    Other savings deposits (excluding MMDAs) $22,572
    Total time deposits $57,017
    Total time and savings deposits $141,527
    Noninterest-bearing deposits $30,755
    Interest-bearing deposits $154,318
    Retail deposits $176,964
    IRAs and Keogh plan accounts $11,536
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $221,865
    Cash & Balances due from depository institutions $25,059
    Interest-bearing balances $22,101
    Total securities $23,149
    Federal funds sold & reverse repurchase $0
    Net loans and leases $162,397
    Loan and leases loss allowance $1,829
    Trading account assets $0
    Bank premises and fixed assets $4,328
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,932

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $221,865
    Total Liabilities $200,742
    Total deposits $185,073
    Interest-bearing deposits $154,318
    Deposits held in domestic offices $185,073
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,000
    Subordinated debt $0
    All other liabilities $669

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $162,397
    Loan and leases loss allowance $1,829
    Total loans and leases (domestic) $164,226
    All real estate loans $142,314
    Real estate loans in domestic offices $142,314
    Construction and development loans $10,923
    Residential 1-4 family construction $4,190
    Other construction, all land development and other land $6,733
    Loans secured by nonfarm nonresidential properties $47,438
    Nonfarm nonresidential secured by owner-occupied properties $24,784
    Commercial real estate & other non-farm, non-residential $22,654
    Multifamily residential real estate $7,940
    1-4 family residential loans $74,694
    Farmland loans $1,319
    Loans held in foreign offices $0
    Farm loans $3
    Commercial and industrial loans $13,980
    To non-U.S. addressees $0
    Loans to individuals $7,901
    Credit card loans $0
    Related Plans $97
    Consumer Auto Loans $5,633
    Other loans to individuals $2,171
    All other loans & leases $53
    Loans to foreign governments and official institutions $0
    Other loans $53
    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 $214
    Non 1-4 family restructured loans & leases $14
    Total loans and leases (foreign) $0

    Owen County State Bank had $162,397,000 of loans outstanding in 2018. $142,314,000 of loans were in real estate loans. $10,923,000 of loans were in development loans. $7,940,000 of loans were in multifamily mortgage loans. $74,694,000 of loans were in 1-4 family mortgage loans. $3,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,633,000 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 154 $32,952 $213,974
    Nonfarm, nonresidential loans - <$100k 46 $1,957 $42,543
    Nonfarm, nonresidential loans - $100-250k 43 $6,202 $144,233
    Nonfarm, nonresidential loans - $250k-1MM 65 $24,793 $381,431
    Commercial & Industrial, US addressed loans - <$1MM 221 $12,137 $54,919
    Commercial & Industrial, US addressed loans - <$100k 179 $4,386 $24,503
    Commercial & Industrial, US addressed loans - $100-250k 20 $2,373 $118,650
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $5,378 $244,455
    Farmland loans - <$1MM 14 $1,319 $94,214
    Farmland loans - <$100k 7 $292 $41,714
    Farmland loans - $100-250k 5 $662 $132,400
    Farmland loans - $250k-1MM 2 $365 $182,500
    Agriculture operations loans - <$1MM 1 $3 $3,000
    Agriculture operations loans - <$100k 1 $3 $3,000