The Monticello Banking Company Mortgage Rates, Fees & Info

Monticello, KY

LEI: 54930020VWE4K0ME5605

Tax ID: 61-0284670

Latest/2023 | 2022 Data | 2021 Data | 2020 Data |

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Mortgage Data

Bank Data

Review & Overview

The Monticello Banking Company is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. The Monticello Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Bowling Green, Somerset, Lexington, Glasgow, and Louisville among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Monticello Banking Company 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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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.33% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
30 Year Cash-out Refi 6.31% 3/28/24
15 Year Conventional Purchase 7.33% 3/28/24
15 Year Conventional Refi 5.68% 3/28/24
15 Year Cash-out Refi 5.68% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

The Monticello Banking Company Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Monticello Banking Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

552

Origination Dollar Volume (All Markets)

$93,070,000

Employee count

196

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
Outside of Metro Areas 267 $34,235,000 $128,221 $0 0.00%
BOWLING GREEN, KY (FHA|USDA|VA) 65 $17,345,000 $266,846 $0 0.00%
Somerset, KY (FHA|USDA|VA) 94 $15,710,000 $167,128 $0 0.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 56 $12,780,000 $228,214 $0 0.00%
Glasgow, KY (FHA|USDA|VA) 23 $3,495,000 $151,957 $0 0.00%
LOUISVILLE, KY (FHA|USDA|VA) 11 $2,765,000 $251,364 $0 0.00%
Danville, KY (FHA|USDA|VA) 14 $2,400,000 $171,429 $0 0.00%
Bardstown, KY (FHA|USDA|VA) 1 $775,000 $775,000 $0 0.00%
London, KY (FHA|USDA|VA) 2 $630,000 $315,000 $0 0.00%
Frankfort, KY (FHA|USDA|VA) 4 $480,000 $120,000 $0 0.00%
Richmond-Berea, KY (FHA|USDA|VA) 5 $465,000 $93,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
Campbellsville, KY (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
OWENSBORO, KY (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
The Monticello Banking Company's top markets include Bowling Green, Somerset, Lexington, Glasgow, and Louisville among others.

Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 552 $93,070,000 $168,605 $0 0.00%

    For 2020, The Monticello Banking Company's most frequently originated type of loan was Conventional, with 552 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 234 $41,080,000 $175,556 $0 0.00%
    Home Purchase 173 $28,345,000 $163,844 $0 0.00%
    Cash Out Refi 141 $23,265,000 $165,000 $0 0.00%
    Home Improvement 4 $380,000 $95,000 $0 0.00%

    For 2020, The Monticello Banking Company's most frequently cited loan purpose was Refi, with 234 originations. The 2nd most popular reason was Home Purchase, with 173 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 552 $93,070,000 $168,605 $0 0.00%

    For 2020, The Monticello Banking Company's most frequently cited loan duration was Other, with 552 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 223 $32,815,000 $147,152 $0 0.00%
    $100,000 or less 182 $11,300,000 $62,088 $0 0.00%
    $200k-400k 121 $32,125,000 $265,496 $0 0.00%
    $400k-600k 17 $8,245,000 $485,000 $0 0.00%
    $600k-1MM 5 $3,755,000 $751,000 $0 0.00%
    $1MM+ 4 $4,830,000 $1,207,500 $0 0.00%

    2020 saw The Monticello Banking Company place emphasis on $100k-200k loans with 223 originations, totaling $32,815,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 113 $9,595,000 $84,912 $0 0.00%
    $100k-150k 108 $21,800,000 $201,852 $0 0.00%
    $50k-75k 99 $11,995,000 $121,162 $0 0.00%
    $75k-100k 81 $12,655,000 $156,235 $0 0.00%
    $150k-250k 41 $10,765,000 $262,561 $0 0.00%
    $250k+ 32 $8,870,000 $277,188 $0 0.00%

    The Monticello Banking Company lent most frequently to those with incomes in the $50k or less range, with 113 originations. The second most popular income band? $100k-150k, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 552 $93,070,000 $168,605 $0 0.00%

    The Monticello Banking Company lent most frequently to those with DTI ratios of Exempt%, with 552 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 497 $77,235,000 $155,402 $0 0.00%
    Not applicable 49 $13,925,000 $284,184 $0 0.00%
    Asian 4 $1,520,000 $380,000 $0 0.00%
    Black 2 $390,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.33%

    The Monticello Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.89%

    The Monticello Banking Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 552 $93,070,000 $168,605

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $105,000 $105,000
    Multifamily:Site-Built 7 $5,225,000 $746,429
    Single Family (1-4 Units):Manufactured 25 $1,505,000 $60,200
    Single Family (1-4 Units):Site-Built 519 $86,235,000 $166,156

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Monticello Banking Company 181 Finance Street Harlan, KY 40831 Full Service B&M $33,319
    The Monticello Banking Company 102 East Mound Street Harlan, KY 40831 Full Service B&M $17,626
    The Monticello Banking Company 104 Springdale Drive Nicholasville, KY 40356 Full Service B&M $5,902
    The Monticello Banking Company 1050 Wilkinson Trace, Thoroughbred Square, Suite 100 Bowling Green, KY 42103 Full Service B&M $21,085
    The Monticello Banking Company 113 Smoky Way Danville, KY 40422 Full Service B&M $39,290
    The Monticello Banking Company 1434 Happy Valley Road Glasgow, KY 42141 Full Service B&M $13,911
    The Monticello Banking Company 1450 North Main Street Monticello, KY 42633 Full Service B&M $25,154
    The Monticello Banking Company 1840 Cave Mill Road Bowling Green, KY 42104 Full Service B&M $39,121
    The Monticello Banking Company 201 East Central Street Harlan, KY 40831 Full Service B&M $57,157
    The Monticello Banking Company 2449 South Highway 127 Russell Springs, KY 42642 Full Service B&M $29,269
    The Monticello Banking Company 28 Barnes Drive Monticello, KY 42633 Full Service Retail $113,532
    The Monticello Banking Company 310 North Cross Street Albany, KY 42602 Full Service B&M $56,376
    The Monticello Banking Company 3653 South Highway 27 Somerset, KY 42501 Full Service B&M $34,310
    The Monticello Banking Company 475 East Highway 80 Somerset, KY 42501 Full Service B&M $116,227
    The Monticello Banking Company 50 North Main Monticello, KY 42633 Full Service B&M $77,014
    The Monticello Banking Company 611 North Wallace Wilkinson Blvd Liberty, KY 42539 Full Service B&M $27,048
    The Monticello Banking Company 651 Us 31 West Bypass, Suite 212 Bowling Green, KY 42101 Full Service B&M $3,508
    The Monticello Banking Company 95 North Main Street Monticello, KY 42633 Full Service B&M $34,359
    The Monticello Banking Company 997 Governors Lane, Suite 125 Lexington, KY 40513 Full Service B&M $8,787

    For 2020, The Monticello Banking Company had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,747
    Net interest income $28,153
    Total noninterest income $5,696
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,221
    Trading account gains and fees $0
    Additional Noninterest Income $3,475
    Pre-tax net operating income $10,764
    Securities gains (or losses, -) $1,174
    Income before extraordinary items $10,038
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,038
    Minority interest net income $0
    Net income $10,038
    Sale, conversion, retirement of capital stock, net $46
    Net operating income $9,051

    The Monticello Banking Company's gross interest income from loans was $33,747,000.
    The Monticello Banking Company's net interest income from loans was $28,153,000.
    The Monticello Banking Company's fee based income from loans was $2,221,000.
    The Monticello Banking Company's net income from loans was $10,038,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,594
    Provision for credit losses $1,350
    Total noninterest expense $21,735
    Salaries and employee benefits $13,160
    Premises and equipment expense $2,904
    Additional noninterest expense $5,671
    Applicable income taxes $1,900
    Net charge-offs $207
    Cash dividends $6,200

    The Monticello Banking Company's interest expense for loans was $5,594,000.
    The Monticello Banking Company's payroll and benefits expense were $13,160,000.
    The Monticello Banking Company's property, plant and equipment expenses $2,904,000.

    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 1.0%
    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 0.1%
    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 $797,589
    Deposits held in domestic offices $797,589
    Deposits by Individuals, partnerships, and corporations $728,012
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $69,328
    Deposits by Commercial banks and other depository institutions in U.S. $247
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $227,277
    Demand deposits $122,900
    Nontransaction accounts $570,312
    Money market deposit accounts (MMDAs) $227,121
    Other savings deposits (excluding MMDAs) $71,151
    Total time deposits $272,040
    Total time and savings deposits $674,689
    Noninterest-bearing deposits $83,252
    Interest-bearing deposits $714,337
    Retail deposits $716,731
    IRAs and Keogh plan accounts $63,045
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $915,696
    Cash & Balances due from depository institutions $76,016
    Interest-bearing balances $68,179
    Total securities $162,738
    Federal funds sold & reverse repurchase $2
    Net loans and leases $625,548
    Loan and leases loss allowance $7,111
    Trading account assets $0
    Bank premises and fixed assets $18,606
    Other real estate owned $44
    Goodwill and other intangibles $1,329
    All other assets $31,413

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $915,696
    Total Liabilities $827,335
    Total deposits $797,589
    Interest-bearing deposits $714,337
    Deposits held in domestic offices $797,589
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $27,790
    Subordinated debt $0
    All other liabilities $1,956

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $625,548
    Loan and leases loss allowance $7,111
    Total loans and leases (domestic) $632,659
    All real estate loans $524,176
    Real estate loans in domestic offices $524,176
    Construction and development loans $81,188
    Residential 1-4 family construction $20,830
    Other construction, all land development and other land $60,358
    Loans secured by nonfarm nonresidential properties $189,306
    Nonfarm nonresidential secured by owner-occupied properties $106,203
    Commercial real estate & other non-farm, non-residential $83,103
    Multifamily residential real estate $27,357
    1-4 family residential loans $195,235
    Farmland loans $31,090
    Loans held in foreign offices $0
    Farm loans $7,617
    Commercial and industrial loans $62,631
    To non-U.S. addressees $0
    Loans to individuals $22,020
    Credit card loans $1,161
    Related Plans $0
    Consumer Auto Loans $6,044
    Other loans to individuals $14,815
    All other loans & leases $16,215
    Loans to foreign governments and official institutions $0
    Other loans $13,431
    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 $2,919
    Non 1-4 family restructured loans & leases $2,831
    Total loans and leases (foreign) $0

    The Monticello Banking Company had $625,548,000 of loans outstanding in 2020. $524,176,000 of loans were in real estate loans. $81,188,000 of loans were in development loans. $27,357,000 of loans were in multifamily mortgage loans. $195,235,000 of loans were in 1-4 family mortgage loans. $7,617,000 of loans were in farm loans. $1,161,000 of loans were in credit card loans. $6,044,000 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 346 $67,072 $193,850
    Nonfarm, nonresidential loans - <$100k 130 $5,038 $38,754
    Nonfarm, nonresidential loans - $100-250k 95 $10,940 $115,158
    Nonfarm, nonresidential loans - $250k-1MM 121 $51,094 $422,264
    Commercial & Industrial, US addressed loans - <$1MM 632 $25,500 $40,348
    Commercial & Industrial, US addressed loans - <$100k 521 $10,161 $19,503
    Commercial & Industrial, US addressed loans - $100-250k 74 $6,807 $91,986
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $8,532 $230,595
    Farmland loans - <$1MM 182 $16,500 $90,659
    Farmland loans - <$100k 97 $3,326 $34,289
    Farmland loans - $100-250k 64 $8,378 $130,906
    Farmland loans - $250k-1MM 21 $4,796 $228,381
    Agriculture operations loans - <$1MM 171 $5,480 $32,047
    Agriculture operations loans - <$100k 153 $2,941 $19,222
    Agriculture operations loans - $100-250k 10 $913 $91,300
    Agriculture operations loans - $250k-1MM 8 $1,626 $203,250