Demotte State Bank Mortgage Rates, Fees & Info

Jasper, IN

LEI: 54930074SGHZL5IZGS24

Tax ID: 35-0161700

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Demotte State Bank is a smaller bank specializing in Refi and Home Purchase loans. Demotte State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Key West, Grand Rapids, Indianapolis, and Lafayette among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Demotte State 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. Demotte 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 relatively high 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.

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    Originations

    114

    Origination Dollar Volume (All Markets)

    $14,380,000

    Employee count

    128

    Awards

    DeMotte State Bank 30 Year Conventional Loans gold
    Show all (1) 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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 97 $12,865,000 $132,629 $652 6.07%
    Outside of Metro Areas 11 $675,000 $61,364 $488 6.12%
    Key West, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 6.25%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $265,000 $265,000 $0 5.75%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $95,000 $95,000 $1,924 5.75%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $55,000 $55,000 $373 5.75%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $45,000 $45,000 $2,054 6.00%
    Plymouth, IN (FHA|USDA|VA) 1 $5,000 $5,000 $12 6.75%
    Demotte State Bank's top markets include Chicago, Key West, Grand Rapids, Indianapolis, and Lafayette among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 114 $14,380,000 $126,140 $668 6.07%

    For 2018, Demotte State Bank's most frequently originated type of loan was Conventional, with 114 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 56 $9,230,000 $164,821 $589 6.08%
    Home Purchase 31 $4,165,000 $134,355 $1,205 6.20%
    Other 18 $720,000 $40,000 $464 5.94%
    Home Improvement 9 $265,000 $29,444 $436 5.83%

    For 2018, Demotte State Bank's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 39 $6,935,000 $177,821 $274 6.28%
    10 Year 25 $1,995,000 $79,800 $382 6.13%
    15 Year 17 $1,585,000 $93,235 $1,021 6.28%
    5 Year 12 $490,000 $40,833 $360 5.02%
    30 Year 11 $1,885,000 $171,364 $1,129 5.66%
    20 Year 4 $600,000 $150,000 $1,846 6.19%
    1 Year 3 $235,000 $78,333 $1,243 6.75%
    3 Year 3 $655,000 $218,333 $0 6.50%

    For 2018, Demotte State Bank's most frequently cited loan duration was Other, with 39 originations. The 2nd most popular length was 10 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 59 $4,555,000 $77,203

    Demotte State Bank's average total fees were $1,129, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 59 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 60 $8,630,000 $143,833
    5-6% 39 $5,025,000 $128,846
    4-5% 11 $295,000 $26,818
    7-8% 4 $430,000 $107,500

    During 2018, Demotte State Bank's average interest rate for loans was 5.66%, while their most frequently originated rate bucket for loans was 6-7%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 78 $3,780,000 $48,462 $579 6.03%
    $100k-200k 19 $2,705,000 $142,368 $976 6.28%
    $200k-400k 13 $3,745,000 $288,077 $904 5.95%
    $1MM+ 2 $2,980,000 $1,490,000 $0 6.38%
    $400k-600k 1 $405,000 $405,000 $0 6.25%
    $600k-1MM 1 $765,000 $765,000 $0 5.75%

    2018 saw Demotte State Bank place emphasis on $100,000 or less loans with 78 originations, totaling $3,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $1,385,000 $60,217 $621 6.07%
    $50k-75k 21 $1,465,000 $69,762 $780 5.93%
    $100k-150k 18 $2,050,000 $113,889 $591 5.80%
    $75k-100k 14 $1,110,000 $79,286 $645 6.01%
    $150k-250k 5 $665,000 $133,000 $539 6.60%
    $250k+ 5 $545,000 $109,000 $992 6.24%

    Demotte State Bank lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $50k-75k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $1,765,000 $70,600 $691 6.03%
    30-36% 20 $1,850,000 $92,500 $852 6.18%
    <20% 15 $1,125,000 $75,000 $568 5.75%
    36% 5 $705,000 $141,000 $527 5.60%
    >60% 3 $635,000 $211,667 $0 6.25%
    41% 3 $315,000 $105,000 $398 6.25%
    39% 2 $240,000 $120,000 $658 4.88%
    40% 2 $120,000 $60,000 $451 6.38%
    37% 2 $80,000 $40,000 $1,206 5.50%
    50-60% 2 $150,000 $75,000 $429 6.08%
    38% 2 $110,000 $55,000 $316 6.00%
    47% 1 $15,000 $15,000 $443 5.00%
    49% 1 $25,000 $25,000 $0 6.50%
    42% 1 $25,000 $25,000 $0 6.25%
    46% 1 $65,000 $65,000 $359 6.25%

    Demotte State Bank lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? 30-36%, with 20 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 87 $7,245,000 $83,276 $667 5.99%
    Not applicable 25 $7,005,000 $280,200 $0 6.35%
    Asian 1 $105,000 $105,000 $1,062 6.75%
    American Indian 1 $25,000 $25,000 $339 5.75%

    Approval Rates

    Total approvals of all applications
    90.65%

    Demotte State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.47%

    Demotte State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 114 $14,380,000 $126,140

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $65,000 $65,000
    Multifamily:Site-Built 1 $195,000 $195,000
    Single Family (1-4 Units):Manufactured 10 $500,000 $50,000
    Single Family (1-4 Units):Site-Built 102 $13,620,000 $133,529

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 19 $2,385,000 $125,526 $387 6.08%
    40-60% 19 $2,285,000 $120,263 $761 6.12%
    60-80% 29 $3,895,000 $134,310 $1,070 6.01%
    80-100% 4 $520,000 $130,000 $936 6.31%
    Over 100% 2 $2,980,000 $1,490,000 $0 6.38%
    Under 20% 41 $2,315,000 $56,463 $409 6.05%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    DeMotte State Bank 1501 South Heaton Knox, IN 46534 Full Service B&M $13,858
    DeMotte State Bank 1615 East Commercial Avenue Lowell, IN 46356 Full Service B&M $35,313
    DeMotte State Bank 175 North Main Street Kouts, IN 46347 Full Service Retail $4,141
    DeMotte State Bank 210 South Halleck Street Demotte, IN 46310 Full Service B&M $158,460
    DeMotte State Bank 211 West Drexel Parkway Rensselaer, IN 47978 Full Service B&M $20,548
    DeMotte State Bank 325 North Halleck Street De Motte, IN 46310 Limited, Drive-thru $0
    DeMotte State Bank 3921 West State Road 10 Wheatfield, IN 46392 Limited, Drive-thru $0
    DeMotte State Bank 507 South Main Street Hebron, IN 46341 Full Service B&M $13,747
    DeMotte State Bank 5650 State Road 10 Roselawn, IN 46372 Full Service B&M $16,015
    DeMotte State Bank 9603 W. 133rd Avenue Cedar Lake, IN 46303 Full Service B&M $36,454
    DeMotte State Bank Main And State Streets Morocco, IN 47963 Full Service B&M $18,854

    For 2018, Demotte State Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,278
    Net interest income $13,540
    Total noninterest income $2,583
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $883
    Trading account gains and fees $0
    Additional Noninterest Income $1,700
    Pre-tax net operating income $3,442
    Securities gains (or losses, -) $-32
    Income before extraordinary items $2,831
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,831
    Minority interest net income $0
    Net income $2,831
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,857

    Demotte State Bank's gross interest income from loans was $16,278,000.
    Demotte State Bank's net interest income from loans was $13,540,000.
    Demotte State Bank's fee based income from loans was $883,000.
    Demotte State Bank's net income from loans was $2,831,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,738
    Provision for credit losses $209
    Total noninterest expense $12,472
    Salaries and employee benefits $6,861
    Premises and equipment expense $1,566
    Additional noninterest expense $4,045
    Applicable income taxes $579
    Net charge-offs $-15
    Cash dividends $1,436

    Demotte State Bank's interest expense for loans was $2,738,000.
    Demotte State Bank's payroll and benefits expense were $6,861,000.
    Demotte State Bank's property, plant and equipment expenses $1,566,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 20.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    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 $329,318
    Deposits held in domestic offices $329,318
    Deposits by Individuals, partnerships, and corporations $269,165
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $60,153
    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 $179,893
    Demand deposits $90,719
    Nontransaction accounts $149,425
    Money market deposit accounts (MMDAs) $10,128
    Other savings deposits (excluding MMDAs) $70,116
    Total time deposits $69,181
    Total time and savings deposits $238,599
    Noninterest-bearing deposits $90,719
    Interest-bearing deposits $238,599
    Retail deposits $317,930
    IRAs and Keogh plan accounts $28,664
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $417,499
    Cash & Balances due from depository institutions $11,054
    Interest-bearing balances $3,374
    Total securities $136,101
    Federal funds sold & reverse repurchase $6,787
    Net loans and leases $233,420
    Loan and leases loss allowance $2,806
    Trading account assets $0
    Bank premises and fixed assets $7,613
    Other real estate owned $729
    Goodwill and other intangibles $0
    All other assets $21,795

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $417,499
    Total Liabilities $370,616
    Total deposits $329,318
    Interest-bearing deposits $238,599
    Deposits held in domestic offices $329,318
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $39,471
    Subordinated debt $0
    All other liabilities $1,827

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $233,420
    Loan and leases loss allowance $2,806
    Total loans and leases (domestic) $236,226
    All real estate loans $155,393
    Real estate loans in domestic offices $155,393
    Construction and development loans $21,950
    Residential 1-4 family construction $19,145
    Other construction, all land development and other land $2,805
    Loans secured by nonfarm nonresidential properties $25,311
    Nonfarm nonresidential secured by owner-occupied properties $22,094
    Commercial real estate & other non-farm, non-residential $3,217
    Multifamily residential real estate $1,552
    1-4 family residential loans $63,217
    Farmland loans $43,363
    Loans held in foreign offices $0
    Farm loans $31,250
    Commercial and industrial loans $45,025
    To non-U.S. addressees $0
    Loans to individuals $4,095
    Credit card loans $325
    Related Plans $0
    Consumer Auto Loans $2,436
    Other loans to individuals $1,334
    All other loans & leases $463
    Loans to foreign governments and official institutions $0
    Other loans $199
    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 $965
    Non 1-4 family restructured loans & leases $163
    Total loans and leases (foreign) $0

    DeMotte State Bank had $233,420,000 of loans outstanding in 2018. $155,393,000 of loans were in real estate loans. $21,950,000 of loans were in development loans. $1,552,000 of loans were in multifamily mortgage loans. $63,217,000 of loans were in 1-4 family mortgage loans. $31,250,000 of loans were in farm loans. $325,000 of loans were in credit card loans. $2,436,000 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 89 $14,809 $166,393
    Nonfarm, nonresidential loans - <$100k 31 $1,297 $41,839
    Nonfarm, nonresidential loans - $100-250k 31 $3,588 $115,742
    Nonfarm, nonresidential loans - $250k-1MM 27 $9,924 $367,556
    Commercial & Industrial, US addressed loans - <$1MM 398 $34,422 $86,487
    Commercial & Industrial, US addressed loans - <$100k 263 $6,633 $25,221
    Commercial & Industrial, US addressed loans - $100-250k 81 $9,735 $120,185
    Commercial & Industrial, US addressed loans - $250k-1MM 54 $18,054 $334,333
    Farmland loans - <$1MM 74 $13,133 $177,473
    Farmland loans - <$100k 15 $814 $54,267
    Farmland loans - $100-250k 31 $3,846 $124,065
    Farmland loans - $250k-1MM 28 $8,473 $302,607
    Agriculture operations loans - <$1MM 123 $14,286 $116,146
    Agriculture operations loans - <$100k 61 $2,343 $38,410
    Agriculture operations loans - $100-250k 33 $4,234 $128,303
    Agriculture operations loans - $250k-1MM 29 $7,709 $265,828