Southern Heritage Bank Mortgage Rates, Fees & Info

Jonesville, LA

LEI: 549300684I276INJKK63

Tax ID: 72-0711760

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Southern Heritage Bank is a smaller bank specializing in Refi and Home Purchase loans. Southern Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Alexandria, Natchez, Lafayette, and Natchitoches among others. We have data for 5 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.

    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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    Originations

    270

    Origination Dollar Volume (All Markets)

    $33,690,000

    Employee count

    100

    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) 143 $23,345,000 $163,252 $0 0.00%
    Outside of Metro Areas 120 $9,610,000 $80,083 $0 0.00%
    Natchez, MS-LA (FHA|USDA|VA) 4 $470,000 $117,500 $0 0.00%
    LAFAYETTE, LA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Natchitoches, LA (FHA|USDA|VA) 2 $120,000 $60,000 $0 0.00%
    Southern Heritage Bank's top markets include Alexandria, Natchez, Lafayette, and Natchitoches among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 270 $33,690,000 $124,778 $0 0.00%

    For 2020, Southern Heritage Bank's most frequently originated type of loan was Conventional, with 270 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 107 $15,445,000 $144,346 $0 0.00%
    Home Purchase 101 $12,655,000 $125,297 $0 0.00%
    Cash Out Refi 46 $4,710,000 $102,391 $0 0.00%
    Home Improvement 10 $660,000 $66,000 $0 0.00%
    Other 6 $220,000 $36,667 $0 0.00%

    For 2020, Southern Heritage Bank's most frequently cited loan purpose was Refi, with 107 originations. The 2nd most popular reason was Home Purchase, with 101 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 270 $33,690,000 $124,778 $0 0.00%

    For 2020, Southern Heritage Bank's most frequently cited loan duration was Other, with 270 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 160 $7,790,000 $48,688 $0 0.00%
    $100k-200k 79 $10,835,000 $137,152 $0 0.00%
    $200k-400k 23 $6,065,000 $263,696 $0 0.00%
    $400k-600k 5 $2,195,000 $439,000 $0 0.00%
    $1MM+ 3 $6,805,000 $2,268,333 $0 0.00%

    2020 saw Southern Heritage Bank place emphasis on $100,000 or less loans with 160 originations, totaling $7,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 41 $2,665,000 $65,000 $0 0.00%
    $50k-75k 34 $2,750,000 $80,882 $0 0.00%
    $100k-150k 31 $3,045,000 $98,226 $0 0.00%
    $75k-100k 28 $2,320,000 $82,857 $0 0.00%
    $150k-250k 22 $2,760,000 $125,455 $0 0.00%
    $250k+ 16 $3,070,000 $191,875 $0 0.00%

    Southern Heritage Bank lent most frequently to those with incomes in the $50k or less range, with 41 originations. The second most popular income band? $50k-75k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 270 $33,690,000 $124,778 $0 0.00%

    Southern Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 270 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 171 $16,255,000 $95,058 $0 0.00%
    Not applicable 85 $16,145,000 $189,941 $0 0.00%
    Black 10 $710,000 $71,000 $0 0.00%
    Asian 4 $580,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.83%

    Southern Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.63%

    Southern Heritage Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 270 $33,690,000 $124,778

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $200,000 $100,000
    Multifamily:Site-Built 19 $5,645,000 $297,105
    Single Family (1-4 Units):Manufactured 61 $4,155,000 $68,115
    Single Family (1-4 Units):Site-Built 188 $23,690,000 $126,011

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SOUTHERN TRUST MORTGAGE LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Southern Heritage Bank 1409 Central Avenue Olla, LA 71465 Full Service B&M $35,827
    Southern Heritage Bank 2832 E Oak St. Jena, LA 71342 Full Service B&M $116,319
    Southern Heritage Bank 3596 Highway 28 East Pineville, LA 71361 Full Service B&M $18,459
    Southern Heritage Bank 4617 Monroe Highway Pineville, LA 71360 Full Service B&M $21,825
    Southern Heritage Bank 5211 Jackson Street Alexandria, LA 71303 Full Service B&M $33,552
    Southern Heritage Bank 5617 Coliseum Blvd Alexandria, LA 71303 Full Service B&M $10,895
    Southern Heritage Bank 701 4th Street Alexandria, LA 71301 Full Service B&M $1,471
    Southern Heritage Bank 9778 South Main Street Tullos, LA 71479 Full Service B&M $13,507
    Southern Heritage Bank Fourth And West Park Streets Jonesville, LA 71343 Full Service B&M $32,566
    Southern Heritage Bank State Highway 8 And Short Street Harrisonburg, LA 71340 Full Service B&M $11,143

    For 2020, Southern Heritage Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,050
    Net interest income $13,358
    Total noninterest income $2,664
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $806
    Trading account gains and fees $0
    Additional Noninterest Income $1,858
    Pre-tax net operating income $5,240
    Securities gains (or losses, -) $52
    Income before extraordinary items $5,292
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,292
    Minority interest net income $0
    Net income $5,292
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,240

    Southern Heritage Bank's gross interest income from loans was $15,050,000.
    Southern Heritage Bank's net interest income from loans was $13,358,000.
    Southern Heritage Bank's fee based income from loans was $806,000.
    Southern Heritage Bank's net income from loans was $5,292,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,692
    Provision for credit losses $194
    Total noninterest expense $10,588
    Salaries and employee benefits $6,816
    Premises and equipment expense $967
    Additional noninterest expense $2,805
    Applicable income taxes $0
    Net charge-offs $343
    Cash dividends $4,109

    Southern Heritage Bank's interest expense for loans was $1,692,000.
    Southern Heritage Bank's payroll and benefits expense were $6,816,000.
    Southern Heritage Bank's property, plant and equipment expenses $967,000.

    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 1.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.8%
    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 $311,434
    Deposits held in domestic offices $311,434
    Deposits by Individuals, partnerships, and corporations $262,629
    Deposits by U.S. Government $32
    Deposits by States and political subdivisions in the U.S. $48,773
    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 $159,206
    Demand deposits $93,700
    Nontransaction accounts $152,228
    Money market deposit accounts (MMDAs) $15,596
    Other savings deposits (excluding MMDAs) $49,395
    Total time deposits $87,236
    Total time and savings deposits $217,734
    Noninterest-bearing deposits $93,700
    Interest-bearing deposits $217,734
    Retail deposits $299,870
    IRAs and Keogh plan accounts $9,469
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $350,298
    Cash & Balances due from depository institutions $19,676
    Interest-bearing balances $12,199
    Total securities $94,283
    Federal funds sold & reverse repurchase $0
    Net loans and leases $226,945
    Loan and leases loss allowance $1,481
    Trading account assets $0
    Bank premises and fixed assets $6,452
    Other real estate owned $401
    Goodwill and other intangibles $0
    All other assets $2,541

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $350,298
    Total Liabilities $313,306
    Total deposits $311,434
    Interest-bearing deposits $217,734
    Deposits held in domestic offices $311,434
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $1,080
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $792

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $226,945
    Loan and leases loss allowance $1,481
    Total loans and leases (domestic) $228,426
    All real estate loans $180,600
    Real estate loans in domestic offices $180,600
    Construction and development loans $14,132
    Residential 1-4 family construction $6,996
    Other construction, all land development and other land $7,136
    Loans secured by nonfarm nonresidential properties $60,005
    Nonfarm nonresidential secured by owner-occupied properties $39,472
    Commercial real estate & other non-farm, non-residential $20,533
    Multifamily residential real estate $725
    1-4 family residential loans $96,272
    Farmland loans $9,466
    Loans held in foreign offices $0
    Farm loans $118
    Commercial and industrial loans $34,119
    To non-U.S. addressees $0
    Loans to individuals $13,554
    Credit card loans $733
    Related Plans $13
    Consumer Auto Loans $3,445
    Other loans to individuals $9,363
    All other loans & leases $35
    Loans to foreign governments and official institutions $0
    Other loans $35
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,581
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Southern Heritage Bank had $226,945,000 of loans outstanding in 2020. $180,600,000 of loans were in real estate loans. $14,132,000 of loans were in development loans. $725,000 of loans were in multifamily mortgage loans. $96,272,000 of loans were in 1-4 family mortgage loans. $118,000 of loans were in farm loans. $733,000 of loans were in credit card loans. $3,445,000 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 225 $34,186 $151,938
    Nonfarm, nonresidential loans - <$100k 98 $3,717 $37,929
    Nonfarm, nonresidential loans - $100-250k 71 $9,499 $133,789
    Nonfarm, nonresidential loans - $250k-1MM 56 $20,970 $374,464
    Commercial & Industrial, US addressed loans - <$1MM 673 $29,333 $43,585
    Commercial & Industrial, US addressed loans - <$100k 575 $11,044 $19,207
    Commercial & Industrial, US addressed loans - $100-250k 60 $5,643 $94,050
    Commercial & Industrial, US addressed loans - $250k-1MM 38 $12,646 $332,789
    Farmland loans - <$1MM 111 $9,466 $85,279
    Farmland loans - <$100k 111 $9,466 $85,279
    Agriculture operations loans - <$1MM 3 $118 $39,333
    Agriculture operations loans - <$100k 3 $118 $39,333