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 Refi, 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, Columbus, and Portsmouth among others. We have data for 11 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%	11/22/24
30 Year Conventional Purchase	7.14%	11/22/24
30 Year Conventional Refi	7.06%	11/22/24
30 Year Cash-out Refi	7.06%	11/22/24
15 Year Conventional Purchase	7.09%	11/22/24
15 Year Conventional Refi	7.23%	11/22/24
15 Year Cash-out Refi	7.23%	11/22/24
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

560

Origination Dollar Volume (All Markets)

$82,060,000

Employee count

139

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)	230	$36,670,000	$159,435	$1,916	3.15%
Outside of Metro Areas	263	$35,895,000	$136,483	$1,892	3.33%
Washington Court House, OH (FHA\|USDA\|VA)	19	$2,735,000	$143,947	$1,995	3.68%
Wilmington, OH (FHA\|USDA\|VA)	22	$2,630,000	$119,545	$2,002	3.52%
COLUMBUS, OH (FHA\|USDA\|VA)	6	$1,430,000	$238,333	$2,401	3.15%
Portsmouth, OH (FHA\|USDA\|VA)	6	$1,000,000	$166,667	$1,832	3.50%
Maysville, KY (FHA\|USDA\|VA)	5	$545,000	$109,000	$1,757	3.80%
DAYTON-KETTERING, OH (FHA\|USDA\|VA)	4	$480,000	$120,000	$1,312	4.38%
FORT WAYNE, IN (FHA\|USDA\|VA)	1	$385,000	$385,000	$1,900	2.50%
HUNTINGTON-ASHLAND, WV-KY-OH (FHA\|USDA\|VA)	2	$160,000	$80,000	$1,774	3.75%
Chillicothe, OH (FHA\|USDA\|VA)	2	$130,000	$65,000	$1,999	3.13%

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

The North Side Bank & Trust Company
Similarity Rank: 350

CINFED Federal Credit Union
Similarity Rank: 651

First State Bank
Similarity Rank: 770

Sharefax Credit Union
Similarity Rank: 936

Somerville Bank
Similarity Rank: 1152

Central Bank
Similarity Rank: 1218

RIVER VALLEY CREDIT UNION, INC.
Similarity Rank: 1323

COMMONWEALTH
Similarity Rank: 1425

LCNB National Bank
Similarity Rank: 1612

TELHIO
Similarity Rank: 1750

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	560	$82,060,000	$146,536	$1,908	3.29%

For 2020, First State Bank's most frequently originated type of loan was Conventional, with 560 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	254	$40,370,000	$158,937	$1,892	2.98%
Home Purchase	171	$21,245,000	$124,240	$1,859	3.73%
Cash Out Refi	126	$19,320,000	$153,333	$2,000	3.25%
Other	7	$995,000	$142,143	$1,937	3.82%
Home Improvement	2	$130,000	$65,000	$0	4.88%

For 2020, First State Bank's most frequently cited loan purpose was Refi, with 254 originations. The 2nd most popular reason was Home Purchase, with 171 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	218	$35,120,000	$161,101	$2,006	3.30%
15 Year	169	$23,945,000	$141,686	$1,845	2.93%
20 Year	99	$14,595,000	$147,424	$1,984	3.57%
10 Year	37	$2,355,000	$63,649	$1,172	3.84%
Other	35	$6,015,000	$171,857	$2,066	3.48%
5 Year	2	$30,000	$15,000	$64	4.50%

For 2020, First State Bank's most frequently cited loan duration was 30 Year, with 218 originations. The 2nd most popular length was 15 Year, with 169 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	494	$75,650,000	$153,138

First State Bank's average total fees were $2,006, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 494 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	169	$28,965,000	$171,391
3-4%	148	$22,950,000	$155,068
<2.5%	130	$19,820,000	$152,462
4-5%	94	$9,520,000	$101,277
5-6%	16	$660,000	$41,250
6-7%	3	$145,000	$48,333

During 2020, First State Bank's average interest rate for loans was 3.30%, while their most frequently originated rate bucket for loans was 2.5-3%, with 169 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	236	$33,730,000	$142,924	$1,929	3.01%
$100,000 or less	189	$11,795,000	$62,407	$1,529	3.79%
$200k-400k	128	$33,190,000	$259,297	$2,265	3.04%
$400k-600k	7	$3,345,000	$477,857	$2,644	3.34%

2020 saw First State Bank place emphasis on $100k-200k loans with 236 originations, totaling $33,730,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	120	$20,100,000	$167,500	$2,008	3.18%
$50k-75k	113	$15,085,000	$133,496	$1,877	3.22%
$50k or less	112	$9,990,000	$89,196	$1,719	3.57%
$75k-100k	99	$14,075,000	$142,172	$1,860	3.14%
$150k-250k	66	$13,850,000	$209,848	$2,158	3.29%
$250k+	11	$2,885,000	$262,273	$2,274	3.15%

First State Bank lent most frequently to those with incomes in the $100k-150k range, with 120 originations. The second most popular income band? $50k-75k, with 113 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	152	$22,390,000	$147,303	$1,877	3.07%
30-36%	91	$14,115,000	$155,110	$1,931	3.15%
<20%	75	$10,185,000	$135,800	$1,847	2.92%
37%	20	$2,600,000	$130,000	$1,688	3.79%
36%	16	$2,560,000	$160,000	$2,029	3.21%
39%	15	$2,605,000	$173,667	$2,129	3.26%
40%	14	$2,320,000	$165,714	$2,011	2.95%
38%	12	$2,010,000	$167,500	$2,048	3.13%
45%	11	$1,655,000	$150,455	$1,900	3.36%
42%	10	$2,090,000	$209,000	$2,230	2.85%
44%	10	$1,870,000	$187,000	$1,913	3.10%
43%	8	$1,400,000	$175,000	$1,909	3.03%
46%	8	$1,380,000	$172,500	$2,137	3.16%
41%	7	$1,525,000	$217,857	$1,873	2.86%
48%	6	$920,000	$153,333	$1,800	2.98%
50-60%	5	$1,085,000	$217,000	$2,227	3.85%
49%	4	$560,000	$140,000	$2,080	3.69%
47%	4	$520,000	$130,000	$1,827	3.78%
>60%	3	$365,000	$121,667	$1,086	4.33%

First State Bank lent most frequently to those with DTI ratios of 20-30%, with 152 originations. The next most common DTI ratio? 30-36%, with 91 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	465	$68,735,000	$147,817	$1,898	3.20%
Not provided	75	$10,155,000	$135,400	$1,982	3.55%
Not applicable	16	$2,580,000	$161,250	$0	4.46%
Asian	2	$430,000	$215,000	$1,953	2.88%
Black	1	$145,000	$145,000	$2,005	4.50%
Native Hawaiian or Islander	1	$15,000	$15,000	$0	4.50%

Approval Rates

Total approvals of all applications
87.30%

First State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.89%

First State Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	560	$82,060,000	$146,536

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	48	$3,590,000	$74,792
Single Family (1-4 Units):Site-Built	512	$78,470,000	$153,262

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	36	$2,970,000	$82,500	$1,659	3.29%
40-60%	98	$11,620,000	$118,571	$1,822	3.14%
60-80%	290	$47,760,000	$164,690	$1,998	3.22%
80-100%	121	$19,395,000	$160,289	$2,035	3.41%
Under 20%	15	$315,000	$21,000	$179	4.49%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	2	13.3%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	4	26.7%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	3	20.0%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Closing on a mortgage	2	13.3%
FIRST HORIZON BANK	Other type of mortgage	Struggling to pay mortgage	1	6.7%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First State Bank	145 North Main Street Peebles, OH 45660	Full Service B&M	$31,073
First State Bank	105 South Main Street Seaman, OH 45679	Full Service B&M	$40,232
First State Bank	1584 Rombach Avenue Wilmington, OH 45177	Full Service B&M	$2,765
First State Bank	19230 State Route 136 Winchester, OH 45697	Full Service B&M	$80,336
First State Bank	19575 Us 68 Fayetteville, OH 45118	Full Service B&M	$8,376
First State Bank	210 Pike Street Manchester, OH 45144	Full Service B&M	$36,007
First State Bank	252 S. 2nd Street Ripley, OH 45167	Full Service B&M	$24,745
First State Bank	409 West Main Street West Union, OH 45693	Full Service B&M	$95,820
First State Bank	4901 Vine Street Cincinnati, OH 45217	Full Service B&M	$13,321
First State Bank	4928 Street, Route 125 Georgetown, OH 45121	Full Service B&M	$83,780
First State Bank	501 West Main Street Mount Orab, OH 45154	Full Service B&M	$17,187
First State Bank	543 Clinton Avenue Washington Court House, OH 43160	Full Service B&M	$54,430
First State Bank	730 Harry Sauner Rd. Hillsboro, OH 45133	Full Service B&M	$25,792

For 2020, First State Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$20,656
Net interest income	$17,950
Total noninterest income	$5,040
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,071
Trading account gains and fees	$0
Additional Noninterest Income	$3,969
Pre-tax net operating income	$5,785
Securities gains (or losses, -)	$2,120
Income before extraordinary items	$6,459
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$6,459
Minority interest net income	$0
Net income	$6,459
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,720

First State Bank's gross interest income from loans was $20,656,000.
First State Bank's net interest income from loans was $17,950,000.
First State Bank's fee based income from loans was $1,071,000.
First State Bank's net income from loans was $6,459,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,706
Provision for credit losses	$1,714
Total noninterest expense	$15,491
Salaries and employee benefits	$8,568
Premises and equipment expense	$2,442
Additional noninterest expense	$4,481
Applicable income taxes	$1,446
Net charge-offs	$628
Cash dividends	$1,267

First State Bank's interest expense for loans was $2,706,000.
First State Bank's payroll and benefits expense were $8,568,000.
First State Bank's property, plant and equipment expenses $2,442,000.

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	2.0%
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	$527,886
Deposits held in domestic offices	$527,886
Deposits by Individuals, partnerships, and corporations	$441,077
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$86,525
Deposits by Commercial banks and other depository institutions in U.S.	$284
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$294,563
Demand deposits	$134,354
Nontransaction accounts	$233,323
Money market deposit accounts (MMDAs)	$8,132
Other savings deposits (excluding MMDAs)	$114,309
Total time deposits	$110,882
Total time and savings deposits	$393,532
Noninterest-bearing deposits	$108,850
Interest-bearing deposits	$419,036
Retail deposits	$519,500
IRAs and Keogh plan accounts	$25,329
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$602,817
Cash & Balances due from depository institutions	$54,597
Interest-bearing balances	$47,457
Total securities	$206,013
Federal funds sold & reverse repurchase	$1,528
Net loans and leases	$313,381
Loan and leases loss allowance	$5,573
Trading account assets	$0
Bank premises and fixed assets	$10,103
Other real estate owned	$0
Goodwill and other intangibles	$2,290
All other assets	$14,905

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$602,817
Total Liabilities	$540,582
Total deposits	$527,886
Interest-bearing deposits	$419,036
Deposits held in domestic offices	$527,886
% insured (estimated)	$80
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$10,238
Subordinated debt	$0
All other liabilities	$2,458

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$313,381
Loan and leases loss allowance	$5,573
Total loans and leases (domestic)	$318,954
All real estate loans	$259,224
Real estate loans in domestic offices	$259,224
Construction and development loans	$12,292
Residential 1-4 family construction	$4,751
Other construction, all land development and other land	$7,541
Loans secured by nonfarm nonresidential properties	$81,829
Nonfarm nonresidential secured by owner-occupied properties	$19,482
Commercial real estate & other non-farm, non-residential	$62,347
Multifamily residential real estate	$10,134
1-4 family residential loans	$129,785
Farmland loans	$25,184
Loans held in foreign offices	$0
Farm loans	$2,590
Commercial and industrial loans	$8,832
To non-U.S. addressees	$0
Loans to individuals	$41,246
Credit card loans	$176
Related Plans	$42
Consumer Auto Loans	$34,543
Other loans to individuals	$6,485
All other loans & leases	$7,062
Loans to foreign governments and official institutions	$0
Other loans	$202
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	$241
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First State Bank had $313,381,000 of loans outstanding in 2020. $259,224,000 of loans were in real estate loans. $12,292,000 of loans were in development loans. $10,134,000 of loans were in multifamily mortgage loans. $129,785,000 of loans were in 1-4 family mortgage loans. $2,590,000 of loans were in farm loans. $176,000 of loans were in credit card loans. $34,543,000 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	280	$44,633	$159,404
Nonfarm, nonresidential loans - <$100k	93	$4,085	$43,925
Nonfarm, nonresidential loans - $100-250k	110	$13,296	$120,873
Nonfarm, nonresidential loans - $250k-1MM	77	$27,252	$353,922
Commercial & Industrial, US addressed loans - <$1MM	286	$8,676	$30,336
Commercial & Industrial, US addressed loans - <$100k	260	$4,714	$18,131
Commercial & Industrial, US addressed loans - $100-250k	18	$1,868	$103,778
Commercial & Industrial, US addressed loans - $250k-1MM	8	$2,094	$261,750
Farmland loans - <$1MM	155	$20,587	$132,819
Farmland loans - <$100k	63	$2,955	$46,905
Farmland loans - $100-250k	63	$8,619	$136,810
Farmland loans - $250k-1MM	29	$9,013	$310,793
Agriculture operations loans - <$1MM	116	$2,590	$22,328
Agriculture operations loans - <$100k	111	$2,124	$19,135
Agriculture operations loans - $100-250k	5	$466	$93,200