Morgantown Bank & Trust Company Incorporated Mortgage Rates, Fees & Info

Morgantown, KY

LEI: 5493007ZN3JNCBPMI730

Tax ID: 61-0286270

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Morgantown Bank & Trust Company Incorporated is a smaller bank specializing in Home Purchase and Refi loans. Morgantown Bank & Trust Company Incorporated has a high proportion of conventional loans. Their top markets by origination volume include: Bowling Green, Louisville, Central City, Nashville, and Glasgow among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Morgantown Bank & Trust Company Incorporated 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. Morgantown Bank & Trust Company Incorporated 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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.26% 9/8/24
    30 Year Conventional Refi 6.94% 9/8/24
    15 Year Conventional Purchase 6.43% 9/8/24
    15 Year Conventional Refi 6.71% 9/8/24
    15 Year Cash-out Refi 6.71% 9/8/24
    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.

    Morgantown Bank & Trust Company Incorporated Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Morgantown Bank & Trust Company Incorporated. 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

    111

    Origination Dollar Volume (All Markets)

    $13,085,000

    Employee count

    51

    Awards

    Morgantown Bank & Trust Company Incorporated 30 Year Conventional Loans gold Morgantown Bank & Trust Company Incorporated 30 Year Conventional Loans gold
    Show all (2) 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
    BOWLING GREEN, KY (FHA|USDA|VA) 97 $11,595,000 $119,536 $1,210 5.26%
    Outside of Metro Areas 7 $465,000 $66,429 $1,318 5.37%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $295,000 $295,000 $0 5.50%
    Central City, KY (FHA|USDA|VA) 3 $275,000 $91,667 $1,486 5.07%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $225,000 $225,000 $1,003 4.85%
    Glasgow, KY (FHA|USDA|VA) 1 $135,000 $135,000 $2,253 5.50%
    OWENSBORO, KY (FHA|USDA|VA) 1 $95,000 $95,000 $2,029 5.00%
    Morgantown Bank & Trust Company Incorporated's top markets include Bowling Green, Louisville, Central City, Nashville, and Glasgow among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Morgantown Bank & Trust Company Incorporated based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Bank of Edmonson County
    Similarity Rank: 104
    Abound Federal Credit Union
    Similarity Rank: 135
    Morgantown Bank & Trust Company, Incorporated
    Similarity Rank: 168
    Edmonton State Bank
    Similarity Rank: 168
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 780
    Independence Bank of Kentucky
    Similarity Rank: 945
    EVANSVILLE TEACHERS
    Similarity Rank: 2028
    Republic State Mortgage Co.
    Similarity Rank: 2680
    JPMorgan Chase Bank
    Similarity Rank: 3456
    ATLANTIC BAY MORTGAGE GROUP, L.L.C.
    Similarity Rank: 5368

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 111 $13,085,000 $117,883 $1,259 5.26%

    For 2018, Morgantown Bank & Trust Company Incorporated's most frequently originated type of loan was Conventional, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 67 $9,135,000 $136,343 $1,485 5.18%
    Refi 34 $3,520,000 $103,529 $1,107 5.37%
    Home Improvement 5 $265,000 $53,000 $849 5.65%
    Other 5 $165,000 $33,000 $988 5.23%

    For 2018, Morgantown Bank & Trust Company Incorporated's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 29 $3,855,000 $132,931 $1,310 5.28%
    20 Year 21 $2,965,000 $141,190 $1,540 5.36%
    10 Year 19 $735,000 $38,684 $1,101 5.43%
    15 Year 19 $1,265,000 $66,579 $1,298 5.30%
    Other 12 $2,540,000 $211,667 $1,068 5.04%
    1 Year 8 $1,180,000 $147,500 $1,628 4.74%
    5 Year 2 $60,000 $30,000 $647 5.55%
    3 Year 1 $485,000 $485,000 $0 4.95%

    For 2018, Morgantown Bank & Trust Company Incorporated's most frequently cited loan duration was 30 Year, with 29 originations. The 2nd most popular length was 20 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 63 $5,015,000 $79,603

    Morgantown Bank & Trust Company Incorporated's average total fees were $1,310, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 63 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 76 $6,920,000 $91,053
    4-5% 32 $5,880,000 $183,750
    3-4% 2 $240,000 $120,000
    6-7% 1 $45,000 $45,000

    During 2018, Morgantown Bank & Trust Company Incorporated's average interest rate for loans was 5.28%, while their most frequently originated rate bucket for loans was 5-6%, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 73 $3,615,000 $49,521 $1,172 5.32%
    $100k-200k 21 $2,895,000 $137,857 $1,465 5.20%
    $200k-400k 12 $3,030,000 $252,500 $1,581 5.15%
    $400k-600k 3 $1,445,000 $481,667 $0 5.02%
    $1MM+ 1 $1,495,000 $1,495,000 $0 4.75%
    $600k-1MM 1 $605,000 $605,000 $0 5.00%

    2018 saw Morgantown Bank & Trust Company Incorporated place emphasis on $100,000 or less loans with 73 originations, totaling $3,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 29 $2,445,000 $84,310 $1,084 5.27%
    $50k or less 28 $1,440,000 $51,429 $1,278 5.40%
    $100k-150k 13 $1,815,000 $139,615 $1,639 5.13%
    $75k-100k 11 $935,000 $85,000 $1,312 5.46%
    $150k-250k 10 $2,370,000 $237,000 $1,068 5.20%
    $250k+ 6 $640,000 $106,667 $0 4.88%

    Morgantown Bank & Trust Company Incorporated lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $50k or less, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $1,805,000 $78,478 $1,310 5.18%
    <20% 19 $1,095,000 $57,632 $1,120 5.47%
    30-36% 13 $1,075,000 $82,692 $1,382 5.42%
    40% 2 $110,000 $55,000 $1,379 5.15%
    36% 2 $260,000 $130,000 $998 5.10%
    39% 1 $315,000 $315,000 $2,003 5.50%
    38% 1 $55,000 $55,000 $959 5.50%
    42% 1 $25,000 $25,000 $342 5.75%
    44% 1 $135,000 $135,000 $1,600 4.85%
    47% 1 $145,000 $145,000 $915 5.50%
    48% 1 $135,000 $135,000 $589 4.01%
    50-60% 1 $95,000 $95,000 $2,029 5.00%

    Morgantown Bank & Trust Company Incorporated lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? <20%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 97 $9,645,000 $99,433 $1,259 5.28%
    Not applicable 14 $3,440,000 $245,714 $0 5.16%

    Approval Rates

    Total approvals of all applications
    86.54%

    Morgantown Bank & Trust Company Incorporated has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.28%

    Morgantown Bank & Trust Company Incorporated has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 111 $13,085,000 $117,883

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $1,495,000 $1,495,000
    Single Family (1-4 Units):Manufactured 11 $495,000 $45,000
    Single Family (1-4 Units):Site-Built 99 $11,095,000 $112,071

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $440,000 $44,000 $1,107 5.27%
    40-60% 21 $2,165,000 $103,095 $1,363 5.40%
    60-80% 43 $5,895,000 $137,093 $1,272 5.23%
    80-100% 31 $4,215,000 $135,968 $1,432 5.21%
    Over 100% 1 $245,000 $245,000 $0 4.80%
    Under 20% 5 $125,000 $25,000 $683 5.38%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MORGAN STANLEY & CO. LLC Conventional home mortgage Struggling to pay mortgage 1 33.3%
    MORGAN STANLEY & CO. LLC Home equity loan or line of credit (HELOC) Trouble during payment process 1 33.3%
    MORGAN STANLEY & CO. LLC Other type of mortgage Closing on a mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Morgantown Bank & Trust Company, Incorporated 1848 Morgantown Road Bowling Green, KY 42101 Full Service B&M $18,945
    Morgantown Bank & Trust Company, Incorporated 1945 Scottsville Road Suite C-5 Bowling Green, KY 42104 Full Service B&M $16,863
    Morgantown Bank & Trust Company, Incorporated 201 N Main Street Morgantown, KY 42261 Full Service B&M $112,797
    Morgantown Bank & Trust Company, Incorporated 208 N. Main Street Morgantown, KY 42261 Limited, Drive-thru $0
    Morgantown Bank & Trust Company, Incorporated U.S. Highway 70 & State Highway 403 Morgantown, KY 42261 Full Service B&M $12,799

    For 2018, Morgantown Bank & Trust Company Incorporated had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,251
    Net interest income $6,799
    Total noninterest income $1,324
    Gross Fiduciary activities income $19
    Service charges on deposit accounts $586
    Trading account gains and fees $0
    Additional Noninterest Income $719
    Pre-tax net operating income $1,857
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,547
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,547
    Minority interest net income $0
    Net income $1,547
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,547

    Morgantown Bank & Trust Company Incorporated's gross interest income from loans was $8,251,000.
    Morgantown Bank & Trust Company Incorporated's net interest income from loans was $6,799,000.
    Morgantown Bank & Trust Company Incorporated's fee based income from loans was $586,000.
    Morgantown Bank & Trust Company Incorporated's net income from loans was $1,547,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,452
    Provision for credit losses $0
    Total noninterest expense $6,266
    Salaries and employee benefits $3,097
    Premises and equipment expense $696
    Additional noninterest expense $2,473
    Applicable income taxes $310
    Net charge-offs $22
    Cash dividends $439

    Morgantown Bank & Trust Company Incorporated's interest expense for loans was $1,452,000.
    Morgantown Bank & Trust Company Incorporated's payroll and benefits expense were $3,097,000.
    Morgantown Bank & Trust Company Incorporated's property, plant and equipment expenses $696,000.

    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 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 $159,440
    Deposits held in domestic offices $159,440
    Deposits by Individuals, partnerships, and corporations $143,159
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $16,281
    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 $59,084
    Demand deposits $54,563
    Nontransaction accounts $100,356
    Money market deposit accounts (MMDAs) $17,172
    Other savings deposits (excluding MMDAs) $15,379
    Total time deposits $67,805
    Total time and savings deposits $104,877
    Noninterest-bearing deposits $29,676
    Interest-bearing deposits $129,764
    Retail deposits $150,583
    IRAs and Keogh plan accounts $13,868
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $193,864
    Cash & Balances due from depository institutions $3,943
    Interest-bearing balances $404
    Total securities $33,407
    Federal funds sold & reverse repurchase $0
    Net loans and leases $149,992
    Loan and leases loss allowance $1,264
    Trading account assets $0
    Bank premises and fixed assets $3,565
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,957

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $193,864
    Total Liabilities $176,632
    Total deposits $159,440
    Interest-bearing deposits $129,764
    Deposits held in domestic offices $159,440
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $4,143
    Trading liabilities $0
    Other borrowed funds $11,337
    Subordinated debt $0
    All other liabilities $1,712

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $149,992
    Loan and leases loss allowance $1,264
    Total loans and leases (domestic) $151,256
    All real estate loans $129,812
    Real estate loans in domestic offices $129,812
    Construction and development loans $3,492
    Residential 1-4 family construction $2,055
    Other construction, all land development and other land $1,437
    Loans secured by nonfarm nonresidential properties $18,611
    Nonfarm nonresidential secured by owner-occupied properties $9,067
    Commercial real estate & other non-farm, non-residential $9,544
    Multifamily residential real estate $3,706
    1-4 family residential loans $87,769
    Farmland loans $16,234
    Loans held in foreign offices $0
    Farm loans $4,343
    Commercial and industrial loans $9,373
    To non-U.S. addressees $0
    Loans to individuals $7,660
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,732
    Other loans to individuals $3,928
    All other loans & leases $68
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $148
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Morgantown Bank & Trust Company Incorporated had $149,992,000 of loans outstanding in 2018. $129,812,000 of loans were in real estate loans. $3,492,000 of loans were in development loans. $3,706,000 of loans were in multifamily mortgage loans. $87,769,000 of loans were in 1-4 family mortgage loans. $4,343,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,732,000 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 112 $16,902 $150,911
    Nonfarm, nonresidential loans - <$100k 42 $1,482 $35,286
    Nonfarm, nonresidential loans - $100-250k 41 $4,757 $116,024
    Nonfarm, nonresidential loans - $250k-1MM 29 $10,663 $367,690
    Commercial & Industrial, US addressed loans - <$1MM 151 $6,478 $42,901
    Commercial & Industrial, US addressed loans - <$100k 134 $2,824 $21,075
    Commercial & Industrial, US addressed loans - $100-250k 12 $1,085 $90,417
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $2,569 $513,800
    Farmland loans - <$1MM 108 $11,334 $104,944
    Farmland loans - <$100k 57 $2,328 $40,842
    Farmland loans - $100-250k 39 $5,493 $140,846
    Farmland loans - $250k-1MM 12 $3,513 $292,750
    Agriculture operations loans - <$1MM 108 $3,404 $31,519
    Agriculture operations loans - <$100k 96 $1,588 $16,542
    Agriculture operations loans - $100-250k 9 $1,230 $136,667
    Agriculture operations loans - $250k-1MM 3 $586 $195,333