Southern Heritage Bank Mortgage Rates, Fees & Info

Jonesville, LA

LEI: 549300684I276INJKK63

Tax ID: 72-0711760

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

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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 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, Natchez, and Ruston 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.

    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

    291

    Origination Dollar Volume (All Markets)

    $43,165,000

    Employee count

    102

    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) 141 $27,285,000 $193,511 $0 0.00%
    Outside of Metro Areas 133 $13,095,000 $98,459 $0 0.00%
    Natchitoches, LA (FHA|USDA|VA) 3 $1,215,000 $405,000 $0 0.00%
    LAFAYETTE, LA (FHA|USDA|VA) 2 $500,000 $250,000 $0 0.00%
    Natchez, MS-LA (FHA|USDA|VA) 6 $390,000 $65,000 $0 0.00%
    Ruston, LA (FHA|USDA|VA) 3 $365,000 $121,667 $0 0.00%
    MONROE, LA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    BATON ROUGE, LA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Minden, LA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Southern Heritage Bank's top markets include Alexandria, Natchitoches, Lafayette, Natchez, and Ruston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 291 $43,165,000 $148,333 $0 0.00%

    For 2021, Southern Heritage Bank's most frequently originated type of loan was Conventional, with 291 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $15,085,000 $122,642 $0 0.00%
    Refi 99 $19,145,000 $193,384 $0 0.00%
    Cash Out Refi 52 $8,110,000 $155,962 $0 0.00%
    Home Improvement 11 $525,000 $47,727 $0 0.00%
    Other 6 $300,000 $50,000 $0 0.00%

    For 2021, Southern Heritage Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 291 $43,165,000 $148,333 $0 0.00%

    For 2021, Southern Heritage Bank's most frequently cited loan duration was Other, with 291 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 174 $8,810,000 $50,632 $0 0.00%
    $100k-200k 72 $9,830,000 $136,528 $0 0.00%
    $200k-400k 32 $9,280,000 $290,000 $0 0.00%
    $400k-600k 7 $3,225,000 $460,714 $0 0.00%
    $1MM+ 3 $9,825,000 $3,275,000 $0 0.00%
    $600k-1MM 3 $2,195,000 $731,667 $0 0.00%

    2021 saw Southern Heritage Bank place emphasis on $100,000 or less loans with 174 originations, totaling $8,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 50 $3,510,000 $70,200 $0 0.00%
    $50k or less 44 $3,020,000 $68,636 $0 0.00%
    $100k-150k 37 $3,705,000 $100,135 $0 0.00%
    $75k-100k 34 $2,740,000 $80,588 $0 0.00%
    $150k-250k 24 $3,810,000 $158,750 $0 0.00%
    $250k+ 7 $2,545,000 $363,571 $0 0.00%

    Southern Heritage Bank lent most frequently to those with incomes in the $50k-75k range, with 50 originations. The second most popular income band? $50k or less, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 291 $43,165,000 $148,333 $0 0.00%

    Southern Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 291 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 87 $22,635,000 $260,172 $0 0.00%
    White 186 $19,420,000 $104,409 $0 0.00%
    Black 12 $460,000 $38,333 $0 0.00%
    Asian 4 $390,000 $97,500 $0 0.00%
    Chinese 1 $195,000 $195,000 $0 0.00%
    American Indian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.01%

    Southern Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.22%

    Southern Heritage Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 291 $43,165,000 $148,333

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    291 $43,165,000 $148,333

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    SOUTHERN TRUST MORTGAGE LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Southern Heritage Bank 1409 Central Avenue Olla, LA 71465 Full Service B&M $38,938
    Southern Heritage Bank 2832 E Oak St. Jena, LA 71342 Full Service B&M $120,031
    Southern Heritage Bank 3596 Highway 28 East Pineville, LA 71361 Full Service B&M $19,445
    Southern Heritage Bank 4617 Monroe Highway Pineville, LA 71360 Full Service B&M $26,347
    Southern Heritage Bank 5211 Jackson Street Alexandria, LA 71303 Full Service B&M $44,474
    Southern Heritage Bank 5617 Coliseum Blvd Alexandria, LA 71303 Full Service B&M $13,119
    Southern Heritage Bank 701 4th Street Alexandria, LA 71301 Full Service B&M $1,067
    Southern Heritage Bank 9778 South Main Street Tullos, LA 71479 Full Service B&M $14,649
    Southern Heritage Bank Fourth And West Park Streets Jonesville, LA 71343 Full Service B&M $32,387
    Southern Heritage Bank State Highway 8 And Short Street Harrisonburg, LA 71340 Full Service B&M $12,716

    For 2021, Southern Heritage Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,614
    Net interest income $13,348
    Total noninterest income $2,894
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $831
    Trading account gains and fees $0
    Additional Noninterest Income $2,063
    Pre-tax net operating income $5,172
    Securities gains (or losses, -) $36
    Income before extraordinary items $5,208
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,208
    Minority interest net income $0
    Net income $5,208
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,172

    Southern Heritage Bank's gross interest income from loans was $14,614,000.
    Southern Heritage Bank's net interest income from loans was $13,348,000.
    Southern Heritage Bank's fee based income from loans was $831,000.
    Southern Heritage Bank's net income from loans was $5,208,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,266
    Provision for credit losses $298
    Total noninterest expense $10,772
    Salaries and employee benefits $7,061
    Premises and equipment expense $964
    Additional noninterest expense $2,747
    Applicable income taxes $0
    Net charge-offs $94
    Cash dividends $4,355

    Southern Heritage Bank's interest expense for loans was $1,266,000.
    Southern Heritage Bank's payroll and benefits expense were $7,061,000.
    Southern Heritage Bank's property, plant and equipment expenses $964,000.

    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 0.0%
    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 $337,007
    Deposits held in domestic offices $337,007
    Deposits by Individuals, partnerships, and corporations $282,948
    Deposits by U.S. Government $35
    Deposits by States and political subdivisions in the U.S. $54,024
    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 $181,947
    Demand deposits $109,058
    Nontransaction accounts $155,060
    Money market deposit accounts (MMDAs) $15,524
    Other savings deposits (excluding MMDAs) $56,033
    Total time deposits $83,505
    Total time and savings deposits $227,949
    Noninterest-bearing deposits $109,058
    Interest-bearing deposits $227,949
    Retail deposits $323,646
    IRAs and Keogh plan accounts $9,953
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $375,677
    Cash & Balances due from depository institutions $19,682
    Interest-bearing balances $12,810
    Total securities $125,721
    Federal funds sold & reverse repurchase $0
    Net loans and leases $221,080
    Loan and leases loss allowance $1,685
    Trading account assets $0
    Bank premises and fixed assets $6,334
    Other real estate owned $137
    Goodwill and other intangibles $0
    All other assets $2,723

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $375,677
    Total Liabilities $338,772
    Total deposits $337,007
    Interest-bearing deposits $227,949
    Deposits held in domestic offices $337,007
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $1,115
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $650

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $221,080
    Loan and leases loss allowance $1,685
    Total loans and leases (domestic) $222,765
    All real estate loans $179,128
    Real estate loans in domestic offices $179,128
    Construction and development loans $16,316
    Residential 1-4 family construction $6,152
    Other construction, all land development and other land $10,164
    Loans secured by nonfarm nonresidential properties $58,285
    Nonfarm nonresidential secured by owner-occupied properties $40,010
    Commercial real estate & other non-farm, non-residential $18,275
    Multifamily residential real estate $148
    1-4 family residential loans $95,742
    Farmland loans $8,637
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $31,516
    To non-U.S. addressees $0
    Loans to individuals $12,047
    Credit card loans $702
    Related Plans $8
    Consumer Auto Loans $3,183
    Other loans to individuals $8,154
    All other loans & leases $74
    Loans to foreign governments and official institutions $0
    Other loans $74
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $3,994
    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 $221,080,000 of loans outstanding in 2021. $179,128,000 of loans were in real estate loans. $16,316,000 of loans were in development loans. $148,000 of loans were in multifamily mortgage loans. $95,742,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $702,000 of loans were in credit card loans. $3,183,000 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 219 $35,007 $159,849
    Nonfarm, nonresidential loans - <$100k 92 $3,391 $36,859
    Nonfarm, nonresidential loans - $100-250k 69 $8,924 $129,333
    Nonfarm, nonresidential loans - $250k-1MM 58 $22,692 $391,241
    Commercial & Industrial, US addressed loans - <$1MM 528 $28,521 $54,017
    Commercial & Industrial, US addressed loans - <$100k 432 $8,324 $19,269
    Commercial & Industrial, US addressed loans - $100-250k 60 $6,782 $113,033
    Commercial & Industrial, US addressed loans - $250k-1MM 36 $13,415 $372,639
    Farmland loans - <$1MM 97 $8,637 $89,041
    Farmland loans - <$100k 97 $8,637 $89,041