Southern Heritage Bank Mortgage Rates, Fees & Info

Jonesville, LA

LEI: 549300684I276INJKK63

Tax ID: 72-0711760

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Mortgage Data

Bank Data

Review & Overview

Southern Heritage Bank is a smaller bank specializing in Home Purchase and Refi loans. Southern Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Alexandria, Natchitoches, Lafayette, Baton Rouge, and Natchez among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Southern Heritage Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

328

Origination Dollar Volume (All Markets)

$32,410,000

Employee count

103

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
ALEXANDRIA, LA (FHA|USDA|VA) 152 $19,700,000 $129,605 $0 0.00%
Outside of Metro Areas 162 $11,230,000 $69,321 $0 0.00%
Natchitoches, LA (FHA|USDA|VA) 2 $510,000 $255,000 $0 0.00%
LAFAYETTE, LA (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
BATON ROUGE, LA (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
Natchez, MS-LA (FHA|USDA|VA) 6 $180,000 $30,000 $0 0.00%
MONROE, LA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Fort Polk South, LA (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
Southern Heritage Bank's top markets include Alexandria, Natchitoches, Lafayette, Baton Rouge, and Natchez among others.

Their top states include:
  • Louisiana (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 328 $32,410,000 $98,811 $0 0.00%

    For 2018, Southern Heritage Bank's most frequently originated type of loan was Conventional, with 328 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 125 $14,375,000 $115,000 $0 0.00%
    Refi 124 $10,720,000 $86,452 $0 0.00%
    Cash Out Refi 60 $6,470,000 $107,833 $0 0.00%
    Other 10 $460,000 $46,000 $0 0.00%
    Home Improvement 9 $385,000 $42,778 $0 0.00%

    For 2018, Southern Heritage Bank's most frequently cited loan purpose was Home Purchase, with 125 originations. The 2nd most popular reason was Refi, with 124 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 328 $32,410,000 $98,811 $0 0.00%

    For 2018, Southern Heritage Bank's most frequently cited loan duration was Other, with 328 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 226 $10,750,000 $47,566 $0 0.00%
    $100k-200k 68 $9,320,000 $137,059 $0 0.00%
    $200k-400k 27 $7,125,000 $263,889 $0 0.00%
    $400k-600k 3 $1,435,000 $478,333 $0 0.00%
    $1MM+ 2 $2,530,000 $1,265,000 $0 0.00%
    $600k-1MM 2 $1,250,000 $625,000 $0 0.00%

    2018 saw Southern Heritage Bank place emphasis on $100,000 or less loans with 226 originations, totaling $10,750,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 57 $2,835,000 $49,737 $0 0.00%
    $100k-150k 52 $4,210,000 $80,962 $0 0.00%
    $50k-75k 50 $3,920,000 $78,400 $0 0.00%
    $75k-100k 41 $2,775,000 $67,683 $0 0.00%
    $150k-250k 29 $3,205,000 $110,517 $0 0.00%
    $250k+ 14 $2,750,000 $196,429 $0 0.00%

    Southern Heritage Bank lent most frequently to those with incomes in the $50k or less range, with 57 originations. The second most popular income band? $100k-150k, with 52 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 328 $32,410,000 $98,811 $0 0.00%

    Southern Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 328 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 234 $18,520,000 $79,145 $0 0.00%
    Not applicable 73 $11,885,000 $162,808 $0 0.00%
    Black 13 $1,265,000 $97,308 $0 0.00%
    Asian 8 $740,000 $92,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.23%

    Southern Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.80%

    Southern Heritage Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 328 $32,410,000 $98,811

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 4 $1,520,000 $380,000
    Multifamily:Site-Built 20 $4,000,000 $200,000
    Single Family (1-4 Units):Manufactured 91 $5,395,000 $59,286
    Single Family (1-4 Units):Site-Built 213 $21,495,000 $100,915

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    SOUTHERN TRUST MORTGAGE LLC Conventional home mortgage Closing on a mortgage 1 50.0%
    SOUTHERN TRUST MORTGAGE LLC Home equity loan or line of credit (HELOC) Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Southern Heritage Bank 3596 Highway 28 East Pineville, LA 71361 Full Service B&M $13,360
    Southern Heritage Bank 1409 Central Avenue Olla, LA 71465 Full Service B&M $34,370
    Southern Heritage Bank 2832 E Oak St. Jena, LA 71342 Full Service B&M $105,239
    Southern Heritage Bank 4617 Monroe Highway Pineville, LA 71360 Full Service B&M $16,122
    Southern Heritage Bank 5211 Jackson Street Alexandria, LA 71303 Full Service B&M $29,781
    Southern Heritage Bank 5617 Coliseum Blvd Alexandria, LA 71303 Full Service B&M $10,970
    Southern Heritage Bank 701 4th Street Alexandria, LA 71301 Full Service B&M $1,185
    Southern Heritage Bank 9778 South Main Street Tullos, LA 71479 Full Service B&M $12,598
    Southern Heritage Bank Fourth And West Park Streets Jonesville, LA 71343 Full Service B&M $30,376
    Southern Heritage Bank State Highway 8 And Short Street Harrisonburg, LA 71340 Full Service B&M $11,126

    For 2018, Southern Heritage Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,021
    Net interest income $12,322
    Total noninterest income $2,307
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $974
    Trading account gains and fees $0
    Additional Noninterest Income $1,333
    Pre-tax net operating income $4,378
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,378
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,378
    Minority interest net income $0
    Net income $4,378
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,378

    Southern Heritage Bank's gross interest income from loans was $14,021,000.
    Southern Heritage Bank's net interest income from loans was $12,322,000.
    Southern Heritage Bank's fee based income from loans was $974,000.
    Southern Heritage Bank's net income from loans was $4,378,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,699
    Provision for credit losses $0
    Total noninterest expense $10,251
    Salaries and employee benefits $6,448
    Premises and equipment expense $977
    Additional noninterest expense $2,826
    Applicable income taxes $0
    Net charge-offs $229
    Cash dividends $3,682

    Southern Heritage Bank's interest expense for loans was $1,699,000.
    Southern Heritage Bank's payroll and benefits expense were $6,448,000.
    Southern Heritage Bank's property, plant and equipment expenses $977,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    Personal loans 1.0%
    Credit card loans 0.5%
    Other individual loans 1.0%
    Auto loans 2.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $269,652
    Deposits held in domestic offices $269,652
    Deposits by Individuals, partnerships, and corporations $218,410
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $51,240
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $130,932
    Demand deposits $68,681
    Nontransaction accounts $138,720
    Money market deposit accounts (MMDAs) $11,172
    Other savings deposits (excluding MMDAs) $41,274
    Total time deposits $86,273
    Total time and savings deposits $200,971
    Noninterest-bearing deposits $68,681
    Interest-bearing deposits $200,971
    Retail deposits $257,417
    IRAs and Keogh plan accounts $9,776
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $305,679
    Cash & Balances due from depository institutions $16,553
    Interest-bearing balances $10,341
    Total securities $54,702
    Federal funds sold & reverse repurchase $0
    Net loans and leases $225,054
    Loan and leases loss allowance $1,665
    Trading account assets $0
    Bank premises and fixed assets $6,517
    Other real estate owned $70
    Goodwill and other intangibles $0
    All other assets $2,783

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $305,679
    Total Liabilities $271,204
    Total deposits $269,652
    Interest-bearing deposits $200,971
    Deposits held in domestic offices $269,652
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $1,002
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $550

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $225,054
    Loan and leases loss allowance $1,665
    Total loans and leases (domestic) $226,719
    All real estate loans $181,569
    Real estate loans in domestic offices $181,569
    Construction and development loans $14,580
    Residential 1-4 family construction $7,461
    Other construction, all land development and other land $7,119
    Loans secured by nonfarm nonresidential properties $65,052
    Nonfarm nonresidential secured by owner-occupied properties $45,132
    Commercial real estate & other non-farm, non-residential $19,920
    Multifamily residential real estate $737
    1-4 family residential loans $91,228
    Farmland loans $9,972
    Loans held in foreign offices $0
    Farm loans $97
    Commercial and industrial loans $28,933
    To non-U.S. addressees $0
    Loans to individuals $15,890
    Credit card loans $766
    Related Plans $18
    Consumer Auto Loans $3,824
    Other loans to individuals $11,282
    All other loans & leases $230
    Loans to foreign governments and official institutions $0
    Other loans $141
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $3,792
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $360
    Non 1-4 family restructured loans & leases $360
    Total loans and leases (foreign) $0

    Southern Heritage Bank had $225,054,000 of loans outstanding in 2018. $181,569,000 of loans were in real estate loans. $14,580,000 of loans were in development loans. $737,000 of loans were in multifamily mortgage loans. $91,228,000 of loans were in 1-4 family mortgage loans. $97,000 of loans were in farm loans. $766,000 of loans were in credit card loans. $3,824,000 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 193 $32,798 $169,938
    Nonfarm, nonresidential loans - <$100k 85 $3,844 $45,224
    Nonfarm, nonresidential loans - $100-250k 57 $8,594 $150,772
    Nonfarm, nonresidential loans - $250k-1MM 51 $20,360 $399,216
    Commercial & Industrial, US addressed loans - <$1MM 410 $25,182 $61,420
    Commercial & Industrial, US addressed loans - <$100k 345 $8,538 $24,748
    Commercial & Industrial, US addressed loans - $100-250k 41 $5,398 $131,659
    Commercial & Industrial, US addressed loans - $250k-1MM 24 $11,246 $468,583
    Farmland loans - <$1MM 119 $9,972 $83,798
    Farmland loans - <$100k 119 $9,972 $83,798
    Agriculture operations loans - <$1MM 6 $97 $16,167
    Agriculture operations loans - <$100k 6 $97 $16,167