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 and Refi loans. Owen County State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bloomington, Indianapolis, Bedford, Terre Haute, and Louisville 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

    194

    Origination Dollar Volume (All Markets)

    $30,080,000

    Employee count

    77

    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) 93 $16,715,000 $179,731 $0 0.00%
    Outside of Metro Areas 56 $5,260,000 $93,929 $0 0.00%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 20 $4,060,000 $203,000 $0 0.00%
    Bedford, IN (FHA|USDA|VA) 15 $1,555,000 $103,667 $0 0.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 7 $1,415,000 $202,143 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $725,000 $725,000 $0 0.00%
    Vincennes, IN (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Owen County State Bank's top markets include Bloomington, Indianapolis, Bedford, Terre Haute, and Louisville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 194 $30,080,000 $155,052 $0 0.00%

    For 2020, Owen County State Bank's most frequently originated type of loan was Conventional, with 194 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 95 $15,625,000 $164,474 $0 0.00%
    Refi 48 $8,440,000 $175,833 $0 0.00%
    Cash Out Refi 33 $5,255,000 $159,242 $0 0.00%
    Home Improvement 13 $605,000 $46,538 $0 0.00%
    Other 5 $155,000 $31,000 $0 0.00%

    For 2020, Owen County State Bank's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 194 $30,080,000 $155,052 $0 0.00%

    For 2020, Owen County State Bank's most frequently cited loan duration was Other, with 194 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 84 $4,880,000 $58,095 $0 0.00%
    $100k-200k 70 $10,030,000 $143,286 $0 0.00%
    $200k-400k 30 $7,870,000 $262,333 $0 0.00%
    $600k-1MM 5 $3,985,000 $797,000 $0 0.00%
    $400k-600k 4 $1,730,000 $432,500 $0 0.00%
    $1MM+ 1 $1,585,000 $1,585,000 $0 0.00%

    2020 saw Owen County State Bank place emphasis on $100,000 or less loans with 84 originations, totaling $4,880,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 50 $5,480,000 $109,600 $0 0.00%
    $50k or less 48 $4,300,000 $89,583 $0 0.00%
    $75k-100k 29 $3,525,000 $121,552 $0 0.00%
    $100k-150k 16 $3,730,000 $233,125 $0 0.00%
    $150k-250k 12 $2,740,000 $228,333 $0 0.00%
    $250k+ 5 $1,305,000 $261,000 $0 0.00%

    Owen County State Bank lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $50k or less, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 194 $30,080,000 $155,052 $0 0.00%

    Owen County State Bank lent most frequently to those with DTI ratios of Exempt%, with 194 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 169 $24,385,000 $144,290 $0 0.00%
    Not applicable 21 $5,105,000 $243,095 $0 0.00%
    Not provided 3 $535,000 $178,333 $0 0.00%
    American Indian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.17%

    Owen County State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    44.33%

    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 194 $30,080,000 $155,052

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $505,000 $505,000
    Multifamily:Site-Built 6 $3,720,000 $620,000
    Single Family (1-4 Units):Manufactured 23 $1,695,000 $73,696
    Single Family (1-4 Units):Site-Built 164 $24,160,000 $147,317

    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 $14,244
    Owen County State Bank 201 West Morgan Street Spencer, IN 47460 Full Service B&M $143,962
    Owen County State Bank 2115 W. 16th St. Bedford, IN 47421 Full Service B&M $3,241
    Owen County State Bank 2421 South Walnut Street Bloomington, IN 47401 Full Service B&M $18,962
    Owen County State Bank 34 E. Main St. Bloomfield, IN 47424 Full Service B&M $1,252
    Owen County State Bank 3419 West State Road 46 Bloomington, IN 47401 Full Service B&M $30,450
    Owen County State Bank West Main Street Gosport, IN 47433 Full Service B&M $14,253

    For 2020, Owen County State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,509
    Net interest income $8,983
    Total noninterest income $1,783
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $495
    Trading account gains and fees $0
    Additional Noninterest Income $1,288
    Pre-tax net operating income $2,138
    Securities gains (or losses, -) $69
    Income before extraordinary items $1,704
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,704
    Minority interest net income $0
    Net income $1,704
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,649

    Owen County State Bank's gross interest income from loans was $10,509,000.
    Owen County State Bank's net interest income from loans was $8,983,000.
    Owen County State Bank's fee based income from loans was $495,000.
    Owen County State Bank's net income from loans was $1,704,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,526
    Provision for credit losses $285
    Total noninterest expense $8,343
    Salaries and employee benefits $5,055
    Premises and equipment expense $1,293
    Additional noninterest expense $1,995
    Applicable income taxes $503
    Net charge-offs $34
    Cash dividends $776

    Owen County State Bank's interest expense for loans was $1,526,000.
    Owen County State Bank's payroll and benefits expense were $5,055,000.
    Owen County State Bank's property, plant and equipment expenses $1,293,000.

    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 $234,259
    Deposits held in domestic offices $234,259
    Deposits by Individuals, partnerships, and corporations $194,197
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $39,659
    Deposits by Commercial banks and other depository institutions in U.S. $403
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $120,233
    Demand deposits $71,375
    Nontransaction accounts $114,026
    Money market deposit accounts (MMDAs) $27,723
    Other savings deposits (excluding MMDAs) $29,737
    Total time deposits $56,566
    Total time and savings deposits $162,884
    Noninterest-bearing deposits $37,709
    Interest-bearing deposits $196,550
    Retail deposits $224,399
    IRAs and Keogh plan accounts $10,793
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $279,150
    Cash & Balances due from depository institutions $34,476
    Interest-bearing balances $29,161
    Total securities $70,246
    Federal funds sold & reverse repurchase $0
    Net loans and leases $161,499
    Loan and leases loss allowance $2,153
    Trading account assets $0
    Bank premises and fixed assets $5,493
    Other real estate owned $40
    Goodwill and other intangibles $0
    All other assets $7,396

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $279,150
    Total Liabilities $249,193
    Total deposits $234,259
    Interest-bearing deposits $196,550
    Deposits held in domestic offices $234,259
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $14,000
    Subordinated debt $0
    All other liabilities $934

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $161,499
    Loan and leases loss allowance $2,153
    Total loans and leases (domestic) $163,652
    All real estate loans $137,255
    Real estate loans in domestic offices $137,255
    Construction and development loans $14,113
    Residential 1-4 family construction $6,104
    Other construction, all land development and other land $8,009
    Loans secured by nonfarm nonresidential properties $42,257
    Nonfarm nonresidential secured by owner-occupied properties $23,098
    Commercial real estate & other non-farm, non-residential $19,159
    Multifamily residential real estate $3,572
    1-4 family residential loans $75,869
    Farmland loans $1,444
    Loans held in foreign offices $0
    Farm loans $12
    Commercial and industrial loans $17,503
    To non-U.S. addressees $0
    Loans to individuals $8,983
    Credit card loans $0
    Related Plans $64
    Consumer Auto Loans $4,400
    Other loans to individuals $4,519
    All other loans & leases $28
    Loans to foreign governments and official institutions $0
    Other loans $28
    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 $21
    Non 1-4 family restructured loans & leases $4
    Total loans and leases (foreign) $0

    Owen County State Bank had $161,499,000 of loans outstanding in 2020. $137,255,000 of loans were in real estate loans. $14,113,000 of loans were in development loans. $3,572,000 of loans were in multifamily mortgage loans. $75,869,000 of loans were in 1-4 family mortgage loans. $12,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,400,000 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 145 $30,694 $211,683
    Nonfarm, nonresidential loans - <$100k 39 $1,653 $42,385
    Nonfarm, nonresidential loans - $100-250k 45 $6,407 $142,378
    Nonfarm, nonresidential loans - $250k-1MM 61 $22,634 $371,049
    Commercial & Industrial, US addressed loans - <$1MM 294 $15,808 $53,769
    Commercial & Industrial, US addressed loans - <$100k 239 $5,467 $22,874
    Commercial & Industrial, US addressed loans - $100-250k 30 $3,384 $112,800
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $6,957 $278,280
    Farmland loans - <$1MM 14 $1,430 $102,143
    Farmland loans - <$100k 5 $223 $44,600
    Farmland loans - $100-250k 7 $872 $124,571
    Farmland loans - $250k-1MM 2 $335 $167,500
    Agriculture operations loans - <$1MM 1 $12 $12,000
    Agriculture operations loans - <$100k 1 $12 $12,000