First State Bank Mortgage Rates, Fees & Info

Winchester, OH

LEI: 54930065TMWOWFAXBL88

Tax ID: 31-4344400

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

First State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Washington Court House, Wilmington, Portsmouth, and Maysville among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

First 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. First State Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.84%	5/4/24
30 Year Conventional Purchase	7.14%	5/4/24
30 Year Conventional Refi	7.06%	5/4/24
30 Year Cash-out Refi	7.06%	5/4/24
15 Year Conventional Purchase	7.09%	5/4/24
15 Year Conventional Refi	7.23%	5/4/24
15 Year Cash-out Refi	7.23%	5/4/24
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.

First State Bank Mortgage Calculator

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This is not an official calculator from First State Bank. 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

296

Origination Dollar Volume (All Markets)

$34,370,000

Employee count

127

Awards

First State Bank 30 Year Conventional Loans silver

First State Bank 30 Year Conventional Loans gold

Show all (3) awards

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
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	120	$15,710,000	$130,917	$2,002	5.23%
Outside of Metro Areas	145	$15,655,000	$107,966	$1,710	5.15%
Washington Court House, OH (FHA\|USDA\|VA)	13	$1,365,000	$105,000	$1,697	5.15%
Wilmington, OH (FHA\|USDA\|VA)	6	$510,000	$85,000	$1,771	5.52%
Portsmouth, OH (FHA\|USDA\|VA)	4	$310,000	$77,500	$1,234	5.53%
Maysville, KY (FHA\|USDA\|VA)	2	$240,000	$120,000	$2,344	5.75%
Coshocton, OH (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	6.38%
CLARKSVILLE, TN-KY (FHA\|USDA\|VA)	1	$115,000	$115,000	$1,630	5.75%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	5.25%
Chillicothe, OH (FHA\|USDA\|VA)	1	$105,000	$105,000	$1,530	5.13%
Jackson, OH (FHA\|USDA\|VA)	1	$35,000	$35,000	$2,081	4.25%
COLUMBUS, OH (FHA\|USDA\|VA)	1	$25,000	$25,000	$1,188	5.25%

First State Bank's top markets include Cincinnati, Washington Court House, Wilmington, Portsmouth, and Maysville among others.

Their top states include:

Ohio (FHA|USDA|VA)

Kentucky (FHA|USDA|VA)

Indiana (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against First State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

MIAMI UNIVERSITY COMMUNITY
Similarity Rank: 120

CINCINNATI OHIO POLICE
Similarity Rank: 172

RIVER VALLEY CREDIT UNION, INC.
Similarity Rank: 324

CINFED Federal Credit Union
Similarity Rank: 385

Dearborn Savings Bank
Similarity Rank: 510

OPTION FINANCIAL, LLC
Similarity Rank: 522

Somerville Bank
Similarity Rank: 612

Forcht Bank
Similarity Rank: 810

The Friendship State Bank
Similarity Rank: 820

Civista Bank
Similarity Rank: 840

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	296	$34,370,000	$116,115	$1,818	5.21%

For 2018, First State Bank's most frequently originated type of loan was Conventional, with 296 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	183	$21,275,000	$116,257	$1,906	5.19%
Cash Out Refi	64	$7,960,000	$124,375	$1,751	5.22%
Refi	36	$4,160,000	$115,556	$1,522	5.10%
Other	9	$765,000	$85,000	$1,845	6.04%
Home Improvement	4	$210,000	$52,500	$1,613	4.91%

For 2018, First State Bank's most frequently cited loan purpose was Home Purchase, with 183 originations. The 2nd most popular reason was Cash Out Refi, with 64 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	133	$19,055,000	$143,271	$1,991	5.04%
20 Year	88	$9,560,000	$108,636	$1,671	5.39%
15 Year	36	$3,330,000	$92,500	$1,805	4.93%
10 Year	26	$1,120,000	$43,077	$1,135	5.39%
Other	12	$1,300,000	$108,333	$1,097	6.01%
3 Year	1	$5,000	$5,000	$0	5.75%

For 2018, First State Bank's most frequently cited loan duration was 30 Year, with 133 originations. The 2nd most popular length was 20 Year, with 88 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	226	$25,220,000	$111,593
$1k-2k	6	$910,000	$151,667
$2k-3k	1	$265,000	$265,000
$4k-5k	1	$435,000	$435,000
$5k+	1	$255,000	$255,000

First State Bank's average total fees were $1,991, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 226 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	149	$15,585,000	$104,597
4-5%	125	$16,755,000	$134,040
6-7%	16	$1,620,000	$101,250
3-4%	4	$370,000	$92,500
7-8%	1	$25,000	$25,000
Over 8%	1	$15,000	$15,000

During 2018, First State Bank's average interest rate for loans was 5.04%, while their most frequently originated rate bucket for loans was 5-6%, with 149 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	156	$8,590,000	$55,064	$1,552	5.32%
$100k-200k	97	$13,295,000	$137,062	$1,905	5.09%
$200k-400k	37	$9,765,000	$263,919	$2,320	5.01%
$400k-600k	6	$2,720,000	$453,333	$4,239	5.25%

2018 saw First State Bank place emphasis on $100,000 or less loans with 156 originations, totaling $8,590,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	83	$8,415,000	$101,386	$1,763	5.15%
$50k or less	80	$5,830,000	$72,875	$1,552	5.28%
$100k-150k	52	$7,820,000	$150,385	$2,352	5.11%
$75k-100k	45	$5,825,000	$129,444	$1,869	5.17%
$250k+	9	$1,785,000	$198,333	$1,581	5.76%
$150k-250k	3	$755,000	$251,667	$1,854	5.17%

First State Bank lent most frequently to those with incomes in the $50k-75k range, with 83 originations. The second most popular income band? $50k or less, with 80 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	69	$6,815,000	$98,768	$1,873	5.15%
30-36%	53	$6,375,000	$120,283	$1,890	4.95%
<20%	37	$2,595,000	$70,135	$1,673	5.18%
37%	12	$1,470,000	$122,500	$1,737	5.38%
38%	10	$1,260,000	$126,000	$1,523	5.18%
41%	9	$955,000	$106,111	$1,810	4.90%
50-60%	8	$1,270,000	$158,750	$1,102	5.27%
42%	6	$1,110,000	$185,000	$2,719	4.94%
40%	6	$610,000	$101,667	$2,069	5.10%
36%	5	$785,000	$157,000	$1,852	5.38%
39%	4	$820,000	$205,000	$2,173	5.25%
46%	4	$950,000	$237,500	$2,574	5.22%
47%	4	$700,000	$175,000	$1,736	4.97%
43%	3	$225,000	$75,000	$1,288	5.38%
>60%	3	$585,000	$195,000	$938	5.38%
45%	3	$255,000	$85,000	$1,735	4.63%
48%	2	$260,000	$130,000	$1,546	5.63%
49%	1	$205,000	$205,000	$1,825	5.13%
44%	1	$65,000	$65,000	$613	5.75%

First State Bank lent most frequently to those with DTI ratios of 20-30%, with 69 originations. The next most common DTI ratio? 30-36%, with 53 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	255	$28,455,000	$111,588	$1,832	5.21%
Not applicable	15	$2,975,000	$198,333	$0	5.32%
Not provided	24	$2,620,000	$109,167	$1,686	5.08%
American Indian	1	$275,000	$275,000	$963	4.88%
Black	1	$45,000	$45,000	$0	5.00%

Approval Rates

Total approvals of all applications
87.04%

First State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
76.35%

First State Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
1536.0	1	$255,000	$255,000
NA	295	$34,115,000	$115,644

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$980,000	$245,000
Single Family (1-4 Units):Manufactured	50	$3,150,000	$63,000
Single Family (1-4 Units):Site-Built	242	$30,240,000	$124,959

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	10	$680,000	$68,000	$1,495	5.16%
40-60%	34	$3,870,000	$113,824	$1,842	5.16%
60-80%	151	$19,105,000	$126,523	$1,870	5.29%
80-100%	83	$10,095,000	$121,627	$1,876	5.07%
Over 100%	1	$65,000	$65,000	$1,463	5.13%
Under 20%	17	$555,000	$32,647	$841	5.22%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Problem with a credit reporting company's investigation into an existing problem	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	7.1%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	3	21.4%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Incorrect information on your report	1	7.1%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	5	35.7%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First State Bank	101 Main Street Ripley, OH 45167	Full Service B&M	$24,956
First State Bank	105 South Main Street Seaman, OH 45679	Full Service B&M	$23,587
First State Bank	145 North Main Street Peebles, OH 45660	Full Service B&M	$26,836
First State Bank	19230 State Route 136 Winchester, OH 45697	Full Service B&M	$60,130
First State Bank	210 Pike Street Manchester, OH 45144	Full Service B&M	$35,523
First State Bank	409 West Main Street West Union, OH 45693	Full Service B&M	$84,399
First State Bank	4901 Vine Street Cincinnati, OH 45217	Full Service B&M	$15,010
First State Bank	4928 Street, Route 125 Georgetown, OH 45121	Full Service B&M	$72,907
First State Bank	501 West Main Street Mount Orab, OH 45154	Full Service B&M	$12,971
First State Bank	543 Clinton Avenue Washington Court House, OH 43160	Full Service B&M	$45,009
First State Bank	730 Harry Sauner Rd. Hillsboro, OH 45133	Full Service B&M	$16,596

For 2018, First State Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$18,519
Net interest income	$15,921
Total noninterest income	$3,295
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,235
Trading account gains and fees	$0
Additional Noninterest Income	$2,060
Pre-tax net operating income	$5,805
Securities gains (or losses, -)	$-97
Income before extraordinary items	$4,896
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,896
Minority interest net income	$0
Net income	$4,896
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,979

First State Bank's gross interest income from loans was $18,519,000.
First State Bank's net interest income from loans was $15,921,000.
First State Bank's fee based income from loans was $1,235,000.
First State Bank's net income from loans was $4,896,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,598
Provision for credit losses	$664
Total noninterest expense	$12,747
Salaries and employee benefits	$6,806
Premises and equipment expense	$2,039
Additional noninterest expense	$3,902
Applicable income taxes	$812
Net charge-offs	$441
Cash dividends	$982

First State Bank's interest expense for loans was $2,598,000.
First State Bank's payroll and benefits expense were $6,806,000.
First State Bank's property, plant and equipment expenses $2,039,000.

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	0.0%
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	$409,165
Deposits held in domestic offices	$409,165
Deposits by Individuals, partnerships, and corporations	$328,439
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$78,680
Deposits by Commercial banks and other depository institutions in U.S.	$2,046
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$196,525
Demand deposits	$77,370
Nontransaction accounts	$212,640
Money market deposit accounts (MMDAs)	$6,950
Other savings deposits (excluding MMDAs)	$93,456
Total time deposits	$112,234
Total time and savings deposits	$331,795
Noninterest-bearing deposits	$59,752
Interest-bearing deposits	$349,413
Retail deposits	$400,985
IRAs and Keogh plan accounts	$25,382
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$462,781
Cash & Balances due from depository institutions	$18,812
Interest-bearing balances	$12,141
Total securities	$97,419
Federal funds sold & reverse repurchase	$1,197
Net loans and leases	$321,144
Loan and leases loss allowance	$4,047
Trading account assets	$0
Bank premises and fixed assets	$9,629
Other real estate owned	$0
Goodwill and other intangibles	$2,748
All other assets	$11,832

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$462,781
Total Liabilities	$416,911
Total deposits	$409,165
Interest-bearing deposits	$349,413
Deposits held in domestic offices	$409,165
% insured (estimated)	$85
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$5,311
Subordinated debt	$0
All other liabilities	$2,435

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$321,144
Loan and leases loss allowance	$4,047
Total loans and leases (domestic)	$325,191
All real estate loans	$244,439
Real estate loans in domestic offices	$244,439
Construction and development loans	$10,931
Residential 1-4 family construction	$4,220
Other construction, all land development and other land	$6,711
Loans secured by nonfarm nonresidential properties	$77,018
Nonfarm nonresidential secured by owner-occupied properties	$32,478
Commercial real estate & other non-farm, non-residential	$44,540
Multifamily residential real estate	$11,355
1-4 family residential loans	$124,012
Farmland loans	$21,123
Loans held in foreign offices	$0
Farm loans	$3,051
Commercial and industrial loans	$10,986
To non-U.S. addressees	$0
Loans to individuals	$54,425
Credit card loans	$157
Related Plans	$59
Consumer Auto Loans	$49,825
Other loans to individuals	$4,384
All other loans & leases	$12,290
Loans to foreign governments and official institutions	$0
Other loans	$293
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	$609
Non 1-4 family restructured loans & leases	$356
Total loans and leases (foreign)	$0

First State Bank had $321,144,000 of loans outstanding in 2018. $244,439,000 of loans were in real estate loans. $10,931,000 of loans were in development loans. $11,355,000 of loans were in multifamily mortgage loans. $124,012,000 of loans were in 1-4 family mortgage loans. $3,051,000 of loans were in farm loans. $157,000 of loans were in credit card loans. $49,825,000 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	286	$45,483	$159,031
Nonfarm, nonresidential loans - <$100k	98	$3,668	$37,429
Nonfarm, nonresidential loans - $100-250k	109	$13,229	$121,367
Nonfarm, nonresidential loans - $250k-1MM	79	$28,586	$361,848
Commercial & Industrial, US addressed loans - <$1MM	301	$8,802	$29,243
Commercial & Industrial, US addressed loans - <$100k	274	$4,734	$17,277
Commercial & Industrial, US addressed loans - $100-250k	19	$1,571	$82,684
Commercial & Industrial, US addressed loans - $250k-1MM	8	$2,497	$312,125
Farmland loans - <$1MM	140	$16,860	$120,429
Farmland loans - <$100k	59	$2,529	$42,864
Farmland loans - $100-250k	61	$8,301	$136,082
Farmland loans - $250k-1MM	20	$6,030	$301,500
Agriculture operations loans - <$1MM	121	$3,051	$25,215
Agriculture operations loans - <$100k	115	$2,507	$21,800
Agriculture operations loans - $100-250k	6	$544	$90,667