Owen County State Bank Mortgage Rates, Fees & Info

Spencer, IN

LEI: 54930004Z0FN1LYUET14

Tax ID: 35-0564480

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Mortgage Data

Bank Data

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. Their top markets by origination volume include: Bloomington, Indianapolis, Terre Haute, Bedford, and Columbus among others. We have data for 6 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.

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Originations

189

Origination Dollar Volume (All Markets)

$29,855,000

Employee count

71

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) 117 $21,105,000 $180,385 $0 0.00%
Outside of Metro Areas 43 $4,865,000 $113,140 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 18 $2,250,000 $125,000 $0 0.00%
TERRE HAUTE, IN (FHA|USDA|VA) 5 $675,000 $135,000 $0 0.00%
Bedford, IN (FHA|USDA|VA) 4 $490,000 $122,500 $0 0.00%
COLUMBUS, IN (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
Owen County State Bank's top markets include Bloomington, Indianapolis, Terre Haute, Bedford, and Columbus among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 189 $29,855,000 $157,963 $0 0.00%

    For 2019, Owen County State Bank's most frequently originated type of loan was Conventional, with 189 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 116 $21,210,000 $182,845 $0 0.00%
    Refi 27 $4,025,000 $149,074 $0 0.00%
    Cash Out Refi 22 $3,650,000 $165,909 $0 0.00%
    Other 13 $715,000 $55,000 $0 0.00%
    Home Improvement 11 $255,000 $23,182 $0 0.00%

    For 2019, Owen County State Bank's most frequently cited loan purpose was Home Purchase, with 116 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 189 $29,855,000 $157,963 $0 0.00%

    For 2019, Owen County State Bank's most frequently cited loan duration was Other, with 189 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 85 $4,225,000 $49,706 $0 0.00%
    $100k-200k 66 $9,540,000 $144,545 $0 0.00%
    $200k-400k 25 $6,315,000 $252,600 $0 0.00%
    $600k-1MM 7 $5,485,000 $783,571 $0 0.00%
    $400k-600k 5 $2,295,000 $459,000 $0 0.00%
    $1MM+ 1 $1,995,000 $1,995,000 $0 0.00%

    2019 saw Owen County State Bank place emphasis on $100,000 or less loans with 85 originations, totaling $4,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 47 $3,675,000 $78,191 $0 0.00%
    $50k-75k 46 $4,830,000 $105,000 $0 0.00%
    $75k-100k 31 $4,555,000 $146,935 $0 0.00%
    $100k-150k 24 $4,210,000 $175,417 $0 0.00%
    $150k-250k 10 $2,410,000 $241,000 $0 0.00%

    Owen County State Bank lent most frequently to those with incomes in the $50k or less range, with 47 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% 189 $29,855,000 $157,963 $0 0.00%

    Owen County State Bank lent most frequently to those with DTI ratios of Exempt%, with 189 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 161 $19,995,000 $124,193 $0 0.00%
    Not applicable 23 $8,865,000 $385,435 $0 0.00%
    Not provided 3 $535,000 $178,333 $0 0.00%
    Asian 2 $460,000 $230,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.16%

    Owen County State Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    58.20%

    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 189 $29,855,000 $157,963

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $570,000 $285,000
    Multifamily:Site-Built 8 $6,050,000 $756,250
    Single Family (1-4 Units):Manufactured 20 $1,340,000 $67,000
    Single Family (1-4 Units):Site-Built 159 $21,895,000 $137,704

    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 $7,618
    Owen County State Bank 201 West Morgan Street Spencer, IN 47460 Full Service B&M $135,130
    Owen County State Bank 2421 South Walnut Street Bloomington, IN 47401 Full Service B&M $12,929
    Owen County State Bank 3419 West State Road 46 Bloomington, IN 47401 Full Service B&M $26,494
    Owen County State Bank West Main Street Gosport, IN 47433 Full Service B&M $12,539

    For 2019, Owen County State Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,621
    Net interest income $8,551
    Total noninterest income $1,998
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $639
    Trading account gains and fees $0
    Additional Noninterest Income $1,359
    Pre-tax net operating income $2,710
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,060
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,060
    Minority interest net income $0
    Net income $2,060
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,060

    Owen County State Bank's gross interest income from loans was $10,621,000.
    Owen County State Bank's net interest income from loans was $8,551,000.
    Owen County State Bank's fee based income from loans was $639,000.
    Owen County State Bank's net income from loans was $2,060,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,070
    Provision for credit losses $260
    Total noninterest expense $7,579
    Salaries and employee benefits $4,461
    Premises and equipment expense $1,145
    Additional noninterest expense $1,973
    Applicable income taxes $650
    Net charge-offs $187
    Cash dividends $833

    Owen County State Bank's interest expense for loans was $2,070,000.
    Owen County State Bank's payroll and benefits expense were $4,461,000.
    Owen County State Bank's property, plant and equipment expenses $1,145,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $195,814
    Deposits held in domestic offices $195,814
    Deposits by Individuals, partnerships, and corporations $166,414
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $29,237
    Deposits by Commercial banks and other depository institutions in U.S. $164
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $90,625
    Demand deposits $52,236
    Nontransaction accounts $105,190
    Money market deposit accounts (MMDAs) $26,700
    Other savings deposits (excluding MMDAs) $21,700
    Total time deposits $56,790
    Total time and savings deposits $143,579
    Noninterest-bearing deposits $25,000
    Interest-bearing deposits $170,814
    Retail deposits $187,162
    IRAs and Keogh plan accounts $11,093
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $232,449
    Cash & Balances due from depository institutions $25,429
    Interest-bearing balances $22,052
    Total securities $31,960
    Federal funds sold & reverse repurchase $0
    Net loans and leases $163,391
    Loan and leases loss allowance $1,902
    Trading account assets $0
    Bank premises and fixed assets $4,310
    Other real estate owned $322
    Goodwill and other intangibles $0
    All other assets $7,037

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $232,449
    Total Liabilities $209,633
    Total deposits $195,814
    Interest-bearing deposits $170,814
    Deposits held in domestic offices $195,814
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $13,000
    Subordinated debt $0
    All other liabilities $819

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $163,391
    Loan and leases loss allowance $1,902
    Total loans and leases (domestic) $165,293
    All real estate loans $142,842
    Real estate loans in domestic offices $142,842
    Construction and development loans $8,814
    Residential 1-4 family construction $3,980
    Other construction, all land development and other land $4,834
    Loans secured by nonfarm nonresidential properties $46,225
    Nonfarm nonresidential secured by owner-occupied properties $23,090
    Commercial real estate & other non-farm, non-residential $23,135
    Multifamily residential real estate $9,486
    1-4 family residential loans $76,761
    Farmland loans $1,556
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $14,276
    To non-U.S. addressees $0
    Loans to individuals $8,140
    Credit card loans $0
    Related Plans $86
    Consumer Auto Loans $5,397
    Other loans to individuals $2,657
    All other loans & leases $55
    Loans to foreign governments and official institutions $0
    Other loans $55
    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 $177
    Non 1-4 family restructured loans & leases $8
    Total loans and leases (foreign) $0

    Owen County State Bank had $163,391,000 of loans outstanding in 2019. $142,842,000 of loans were in real estate loans. $8,814,000 of loans were in development loans. $9,486,000 of loans were in multifamily mortgage loans. $76,761,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $5,397,000 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 $33,250 $215,909
    Nonfarm, nonresidential loans - <$100k 42 $1,913 $45,548
    Nonfarm, nonresidential loans - $100-250k 46 $6,326 $137,522
    Nonfarm, nonresidential loans - $250k-1MM 66 $25,011 $378,955
    Commercial & Industrial, US addressed loans - <$1MM 215 $11,341 $52,749
    Commercial & Industrial, US addressed loans - <$100k 172 $4,060 $23,605
    Commercial & Industrial, US addressed loans - $100-250k 24 $2,729 $113,708
    Commercial & Industrial, US addressed loans - $250k-1MM 19 $4,552 $239,579
    Farmland loans - <$1MM 16 $1,556 $97,250
    Farmland loans - <$100k 7 $288 $41,143
    Farmland loans - $100-250k 7 $915 $130,714
    Farmland loans - $250k-1MM 2 $353 $176,500