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, Dayton, and Huntington among others. We have data for 9 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

295

Origination Dollar Volume (All Markets)

$35,205,000

Employee count

125

Awards

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)	121	$16,175,000	$133,678	$1,900	4.75%
Outside of Metro Areas	143	$14,915,000	$104,301	$1,642	4.83%
Washington Court House, OH (FHA\|USDA\|VA)	13	$2,555,000	$196,538	$1,698	4.78%
Wilmington, OH (FHA\|USDA\|VA)	11	$1,115,000	$101,364	$1,993	4.85%
DAYTON-KETTERING, OH (FHA\|USDA\|VA)	3	$195,000	$65,000	$1,045	5.42%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA\|USDA\|VA)	1	$85,000	$85,000	$1,790	5.38%
Chillicothe, OH (FHA\|USDA\|VA)	1	$65,000	$65,000	$1,675	4.25%
Portsmouth, OH (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	5.25%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	1	$35,000	$35,000	$0	6.13%

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

Their top states include:

Ohio (FHA|USDA|VA)

Kentucky (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.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	295	$35,205,000	$119,339	$1,757	4.81%

For 2019, First State Bank's most frequently originated type of loan was Conventional, with 295 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	173	$19,535,000	$112,919	$1,794	4.83%
Cash Out Refi	62	$8,620,000	$139,032	$1,684	5.02%
Refi	44	$6,060,000	$137,727	$1,869	4.34%
Home Improvement	9	$455,000	$50,556	$1,209	5.29%
Other	7	$535,000	$76,429	$1,200	4.82%

For 2019, First State Bank's most frequently cited loan purpose was Home Purchase, with 173 originations. The 2nd most popular reason was Cash Out Refi, with 62 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	154	$20,920,000	$135,844	$1,937	4.68%
15 Year	57	$7,065,000	$123,947	$1,593	4.70%
20 Year	54	$5,870,000	$108,704	$1,788	5.19%
10 Year	21	$905,000	$43,095	$1,025	5.05%
Other	5	$275,000	$55,000	$993	5.28%
5 Year	4	$170,000	$42,500	$148	4.66%

For 2019, First State Bank's most frequently cited loan duration was 30 Year, with 154 originations. The 2nd most popular length was 15 Year, with 57 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	235	$27,585,000	$117,383
$1k-2k	5	$695,000	$139,000
$2k-3k	2	$630,000	$315,000

First State Bank's average total fees were $1,937, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 235 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	140	$19,060,000	$136,143
5-6%	96	$8,400,000	$87,500
3-4%	46	$6,410,000	$139,348
6-7%	9	$895,000	$99,444
7-8%	3	$135,000	$45,000
2.5-3%	1	$305,000	$305,000

During 2019, First State Bank's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 4-5%, with 140 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	142	$7,890,000	$55,563	$1,404	4.98%
$100k-200k	108	$14,470,000	$133,981	$1,872	4.73%
$200k-400k	41	$10,685,000	$260,610	$2,482	4.50%
$400k-600k	3	$1,385,000	$461,667	$3,015	4.18%
$600k-1MM	1	$775,000	$775,000	$0	4.63%

2019 saw First State Bank place emphasis on $100,000 or less loans with 142 originations, totaling $7,890,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	80	$8,860,000	$110,750	$1,748	4.79%
$50k or less	79	$5,465,000	$69,177	$1,507	4.79%
$75k-100k	42	$5,290,000	$125,952	$1,826	4.83%
$100k-150k	37	$6,035,000	$163,108	$1,935	4.87%
$150k-250k	17	$4,025,000	$236,765	$2,643	4.46%
$250k+	5	$1,185,000	$237,000	$1,777	5.18%

First State Bank lent most frequently to those with incomes in the $50k-75k range, with 80 originations. The second most popular income band? $50k or less, with 79 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	68	$8,320,000	$122,353	$1,863	4.59%
30-36%	43	$4,665,000	$108,488	$1,671	4.77%
<20%	31	$2,815,000	$90,806	$1,712	4.46%
42%	11	$1,845,000	$167,727	$1,734	4.80%
36%	11	$1,365,000	$124,091	$1,674	5.00%
44%	8	$780,000	$97,500	$1,777	5.02%
38%	7	$615,000	$87,857	$1,335	5.13%
41%	7	$865,000	$123,571	$1,938	4.75%
37%	7	$715,000	$102,143	$1,528	4.63%
43%	7	$1,215,000	$173,571	$1,794	4.61%
40%	6	$950,000	$158,333	$2,038	4.77%
50-60%	6	$860,000	$143,333	$1,817	5.17%
48%	5	$975,000	$195,000	$2,172	4.20%
47%	4	$460,000	$115,000	$1,920	4.72%
>60%	4	$460,000	$115,000	$1,520	4.78%
49%	2	$350,000	$175,000	$1,863	4.13%
45%	1	$55,000	$55,000	$1,538	5.88%
39%	1	$55,000	$55,000	$708	5.00%

First State Bank lent most frequently to those with DTI ratios of 20-30%, with 68 originations. The next most common DTI ratio? 30-36%, with 43 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	246	$29,400,000	$119,512	$1,750	4.68%
Not provided	28	$3,440,000	$122,857	$2,147	5.50%
Not applicable	19	$2,235,000	$117,632	$0	5.37%
Native Hawaiian or Islander	1	$105,000	$105,000	$880	5.00%
American Indian	1	$25,000	$25,000	$1,263	5.50%

Approval Rates

Total approvals of all applications
88.69%

First State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.68%

First State Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	295	$35,205,000	$119,339

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	5	$1,865,000	$373,000
Single Family (1-4 Units):Manufactured	37	$2,355,000	$63,649
Single Family (1-4 Units):Site-Built	253	$30,985,000	$122,470

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	16	$780,000	$48,750	$1,308	4.78%
40-60%	37	$5,285,000	$142,838	$1,852	4.53%
60-80%	127	$16,425,000	$129,331	$1,866	4.91%
80-100%	96	$12,100,000	$126,042	$1,959	4.74%
Over 100%	1	$105,000	$105,000	$1,280	5.75%
Under 20%	18	$510,000	$28,333	$353	5.03%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	6.7%
FIRST HORIZON BANK	VA mortgage	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	4	26.7%
FIRST HORIZON BANK	FHA mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	6.7%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	2	13.3%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	3	20.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First State Bank	105 South Main Street Seaman, OH 45679	Full Service B&M	$24,660
First State Bank	145 North Main Street Peebles, OH 45660	Full Service B&M	$26,658
First State Bank	19230 State Route 136 Winchester, OH 45697	Full Service B&M	$77,668
First State Bank	19575 Us 68 Fayetteville, OH 45118	Full Service B&M	$5,893
First State Bank	210 Pike Street Manchester, OH 45144	Full Service B&M	$36,398
First State Bank	252 S. 2nd Street Ripley, OH 45167	Full Service B&M	$23,458
First State Bank	409 West Main Street West Union, OH 45693	Full Service B&M	$82,147
First State Bank	4901 Vine Street Cincinnati, OH 45217	Full Service B&M	$10,965
First State Bank	4928 Street, Route 125 Georgetown, OH 45121	Full Service B&M	$61,331
First State Bank	501 West Main Street Mount Orab, OH 45154	Full Service B&M	$15,186
First State Bank	543 Clinton Avenue Washington Court House, OH 43160	Full Service B&M	$49,292
First State Bank	730 Harry Sauner Rd. Hillsboro, OH 45133	Full Service B&M	$18,010
First State Bank	832 Rombach Avenue Wilmington, OH 45177	Full Service B&M	$662

For 2019, First State Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$20,586
Net interest income	$16,832
Total noninterest income	$3,702
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,328
Trading account gains and fees	$0
Additional Noninterest Income	$2,374
Pre-tax net operating income	$5,635
Securities gains (or losses, -)	$784
Income before extraordinary items	$5,351
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,351
Minority interest net income	$0
Net income	$5,351
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,700

First State Bank's gross interest income from loans was $20,586,000.
First State Bank's net interest income from loans was $16,832,000.
First State Bank's fee based income from loans was $1,328,000.
First State Bank's net income from loans was $5,351,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,754
Provision for credit losses	$1,075
Total noninterest expense	$13,824
Salaries and employee benefits	$7,705
Premises and equipment expense	$2,216
Additional noninterest expense	$3,903
Applicable income taxes	$1,068
Net charge-offs	$635
Cash dividends	$1,109

First State Bank's interest expense for loans was $3,754,000.
First State Bank's payroll and benefits expense were $7,705,000.
First State Bank's property, plant and equipment expenses $2,216,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	2.0%
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	$422,183
Deposits held in domestic offices	$422,183
Deposits by Individuals, partnerships, and corporations	$346,581
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$74,790
Deposits by Commercial banks and other depository institutions in U.S.	$812
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$198,447
Demand deposits	$69,070
Nontransaction accounts	$223,736
Money market deposit accounts (MMDAs)	$7,435
Other savings deposits (excluding MMDAs)	$89,694
Total time deposits	$126,607
Total time and savings deposits	$353,113
Noninterest-bearing deposits	$66,592
Interest-bearing deposits	$355,591
Retail deposits	$402,161
IRAs and Keogh plan accounts	$25,805
Brokered deposits	$10,000
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$494,299
Cash & Balances due from depository institutions	$23,599
Interest-bearing balances	$16,073
Total securities	$117,991
Federal funds sold & reverse repurchase	$461
Net loans and leases	$328,217
Loan and leases loss allowance	$4,487
Trading account assets	$0
Bank premises and fixed assets	$10,221
Other real estate owned	$96
Goodwill and other intangibles	$2,475
All other assets	$11,239

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$494,299
Total Liabilities	$440,764
Total deposits	$422,183
Interest-bearing deposits	$355,591
Deposits held in domestic offices	$422,183
% insured (estimated)	$82
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$15,250
Subordinated debt	$0
All other liabilities	$3,331

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$328,217
Loan and leases loss allowance	$4,487
Total loans and leases (domestic)	$332,704
All real estate loans	$260,213
Real estate loans in domestic offices	$260,213
Construction and development loans	$12,142
Residential 1-4 family construction	$4,549
Other construction, all land development and other land	$7,593
Loans secured by nonfarm nonresidential properties	$83,537
Nonfarm nonresidential secured by owner-occupied properties	$28,761
Commercial real estate & other non-farm, non-residential	$54,776
Multifamily residential real estate	$11,085
1-4 family residential loans	$129,316
Farmland loans	$24,133
Loans held in foreign offices	$0
Farm loans	$2,720
Commercial and industrial loans	$11,516
To non-U.S. addressees	$0
Loans to individuals	$49,455
Credit card loans	$200
Related Plans	$61
Consumer Auto Loans	$43,725
Other loans to individuals	$5,469
All other loans & leases	$8,800
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	$238
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First State Bank had $328,217,000 of loans outstanding in 2019. $260,213,000 of loans were in real estate loans. $12,142,000 of loans were in development loans. $11,085,000 of loans were in multifamily mortgage loans. $129,316,000 of loans were in 1-4 family mortgage loans. $2,720,000 of loans were in farm loans. $200,000 of loans were in credit card loans. $43,725,000 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	281	$45,394	$161,544
Nonfarm, nonresidential loans - <$100k	93	$3,688	$39,656
Nonfarm, nonresidential loans - $100-250k	107	$12,755	$119,206
Nonfarm, nonresidential loans - $250k-1MM	81	$28,951	$357,420
Commercial & Industrial, US addressed loans - <$1MM	316	$9,387	$29,706
Commercial & Industrial, US addressed loans - <$100k	288	$4,713	$16,365
Commercial & Industrial, US addressed loans - $100-250k	17	$1,482	$87,176
Commercial & Industrial, US addressed loans - $250k-1MM	11	$3,192	$290,182
Farmland loans - <$1MM	154	$18,447	$119,786
Farmland loans - <$100k	66	$2,947	$44,652
Farmland loans - $100-250k	66	$9,116	$138,121
Farmland loans - $250k-1MM	22	$6,384	$290,182
Agriculture operations loans - <$1MM	121	$2,720	$22,479
Agriculture operations loans - <$100k	115	$2,206	$19,183
Agriculture operations loans - $100-250k	6	$514	$85,667