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 Refi and Home Purchase loans. Morgantown Bank & Trust Company Incorporated has a high proportion of conventional loans. Their top markets by origination volume include: Bowling Green, Elizabethtown, Glasgow, Nashville, and Central City among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Morgantown Bank & Trust Company Incorporated has an above average approval rate when compared to the average across all lenders. They have an above 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 about average 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% 12/16/24
    30 Year Conventional Refi 6.94% 12/16/24
    15 Year Conventional Purchase 6.43% 12/16/24
    15 Year Conventional Refi 6.71% 12/16/24
    15 Year Cash-out Refi 6.71% 12/16/24
    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

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    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    155

    Origination Dollar Volume (All Markets)

    $26,905,000

    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) 128 $23,290,000 $181,953 $1,602 4.24%
    Outside of Metro Areas 15 $2,185,000 $145,667 $1,737 4.22%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 8 $780,000 $97,500 $0 4.25%
    Glasgow, KY (FHA|USDA|VA) 2 $500,000 $250,000 $1,329 3.20%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $135,000 $135,000 $866 2.15%
    Central City, KY (FHA|USDA|VA) 1 $15,000 $15,000 $1,005 4.75%
    Morgantown Bank & Trust Company Incorporated's top markets include Bowling Green, Elizabethtown, Glasgow, Nashville, and Central City 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.

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    Similarity Rank: 2431
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 155 $26,905,000 $173,581 $1,599 4.22%

    For 2020, Morgantown Bank & Trust Company Incorporated's most frequently originated type of loan was Conventional, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 85 $17,525,000 $206,176 $1,383 4.14%
    Home Purchase 58 $8,580,000 $147,931 $1,750 4.25%
    Home Improvement 7 $245,000 $35,000 $3,051 4.68%
    Other 5 $555,000 $111,000 $1,442 4.40%

    For 2020, Morgantown Bank & Trust Company Incorporated's most frequently cited loan purpose was Refi, with 85 originations. The 2nd most popular reason was Home Purchase, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 44 $9,090,000 $206,591 $1,651 4.23%
    30 Year 35 $5,595,000 $159,857 $1,568 4.06%
    15 Year 25 $3,035,000 $121,400 $1,262 4.12%
    Other 25 $4,125,000 $165,000 $1,412 4.30%
    10 Year 14 $3,120,000 $222,857 $2,659 4.31%
    1 Year 7 $1,525,000 $217,857 $1,518 4.29%
    5 Year 5 $415,000 $83,000 $1,396 4.85%

    For 2020, Morgantown Bank & Trust Company Incorporated's most frequently cited loan duration was 20 Year, with 44 originations. The 2nd most popular length was 30 Year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 85 $11,595,000 $136,412

    Morgantown Bank & Trust Company Incorporated's average total fees were $1,568, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 85 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 87 $12,555,000 $144,310
    3-4% 45 $11,405,000 $253,444
    5-6% 14 $1,550,000 $110,714
    <2.5% 5 $885,000 $177,000
    2.5-3% 3 $495,000 $165,000
    6-7% 1 $15,000 $15,000

    During 2020, Morgantown Bank & Trust Company Incorporated's average interest rate for loans was 4.06%, while their most frequently originated rate bucket for loans was 4-5%, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $3,735,000 $55,746 $1,559 4.36%
    $100k-200k 48 $6,700,000 $139,583 $1,451 4.08%
    $200k-400k 29 $7,435,000 $256,379 $1,934 4.16%
    $400k-600k 6 $2,860,000 $476,667 $1,810 4.20%
    $1MM+ 3 $4,715,000 $1,571,667 $0 3.90%
    $600k-1MM 2 $1,460,000 $730,000 $1,834 3.85%

    2020 saw Morgantown Bank & Trust Company Incorporated place emphasis on $100,000 or less loans with 67 originations, totaling $3,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 33 $3,075,000 $93,182 $1,901 4.30%
    $50k-75k 25 $2,425,000 $97,000 $1,230 4.39%
    $75k-100k 25 $3,305,000 $132,200 $1,520 4.13%
    $100k-150k 17 $3,695,000 $217,353 $1,840 4.41%
    $150k-250k 8 $2,050,000 $256,250 $1,683 4.08%
    $250k+ 3 $815,000 $271,667 $2,225 4.12%

    Morgantown Bank & Trust Company Incorporated lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 30 $3,260,000 $108,667 $1,450 4.17%
    <20% 24 $2,620,000 $109,167 $1,910 4.28%
    30-36% 12 $1,340,000 $111,667 $1,522 4.30%
    38% 4 $530,000 $132,500 $1,434 4.16%
    36% 3 $385,000 $128,333 $1,559 3.95%
    37% 2 $250,000 $125,000 $1,397 5.00%
    39% 2 $410,000 $205,000 $1,017 3.23%
    41% 2 $320,000 $160,000 $1,280 4.33%
    42% 1 $45,000 $45,000 $1,292 4.20%
    43% 1 $305,000 $305,000 $3,330 2.88%

    Morgantown Bank & Trust Company Incorporated lent most frequently to those with DTI ratios of 20-30%, with 30 originations. The next most common DTI ratio? <20%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 119 $18,485,000 $155,336 $1,599 4.17%
    Not applicable 35 $8,175,000 $233,571 $0 4.36%
    Vietnamese 1 $245,000 $245,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    92.78%

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

    Pick Rate

    Approvals leading to origination
    92.26%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 155 $26,905,000 $173,581

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $115,000 $115,000
    Multifamily:Site-Built 7 $6,445,000 $920,714
    Single Family (1-4 Units):Manufactured 11 $755,000 $68,636
    Single Family (1-4 Units):Site-Built 136 $19,590,000 $144,044

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $1,490,000 $74,500 $2,016 4.32%
    40-60% 36 $6,670,000 $185,278 $1,482 4.24%
    60-80% 74 $14,330,000 $193,649 $1,521 4.27%
    80-100% 21 $4,195,000 $199,762 $1,643 3.86%
    Under 20% 4 $220,000 $55,000 $1,006 4.40%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MORGAN STANLEY & CO. LLC Conventional home mortgage Closing on a mortgage 1 11.1%
    MORGAN STANLEY & CO. LLC Conventional home mortgage Struggling to pay mortgage 2 22.2%
    MORGAN STANLEY & CO. LLC Conventional home mortgage Trouble during payment process 4 44.4%
    MORGAN STANLEY & CO. LLC Other type of mortgage Struggling to pay mortgage 1 11.1%
    MORGAN STANLEY & CO. LLC Other type of mortgage Trouble during payment process 1 11.1%

    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 $18,389
    Morgantown Bank & Trust Company, Incorporated 1945 Scottsville Road Suite C-5 Bowling Green, KY 42104 Full Service B&M $24,403
    Morgantown Bank & Trust Company, Incorporated 201 N Main Street Morgantown, KY 42261 Full Service B&M $123,689
    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 $21,716

    For 2020, Morgantown Bank & Trust Company Incorporated had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,228
    Net interest income $7,233
    Total noninterest income $1,443
    Gross Fiduciary activities income $7
    Service charges on deposit accounts $475
    Trading account gains and fees $0
    Additional Noninterest Income $961
    Pre-tax net operating income $1,737
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,455
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,455
    Minority interest net income $0
    Net income $1,455
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,455

    Morgantown Bank & Trust Company Incorporated's gross interest income from loans was $9,228,000.
    Morgantown Bank & Trust Company Incorporated's net interest income from loans was $7,233,000.
    Morgantown Bank & Trust Company Incorporated's fee based income from loans was $475,000.
    Morgantown Bank & Trust Company Incorporated's net income from loans was $1,455,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,995
    Provision for credit losses $200
    Total noninterest expense $6,739
    Salaries and employee benefits $3,465
    Premises and equipment expense $695
    Additional noninterest expense $2,579
    Applicable income taxes $282
    Net charge-offs $89
    Cash dividends $513

    Morgantown Bank & Trust Company Incorporated's interest expense for loans was $1,995,000.
    Morgantown Bank & Trust Company Incorporated's payroll and benefits expense were $3,465,000.
    Morgantown Bank & Trust Company Incorporated's property, plant and equipment expenses $695,000.

    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 $198,103
    Deposits held in domestic offices $198,103
    Deposits by Individuals, partnerships, and corporations $180,335
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $17,768
    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 $79,431
    Demand deposits $74,236
    Nontransaction accounts $118,672
    Money market deposit accounts (MMDAs) $18,056
    Other savings deposits (excluding MMDAs) $31,802
    Total time deposits $68,814
    Total time and savings deposits $123,867
    Noninterest-bearing deposits $36,208
    Interest-bearing deposits $161,895
    Retail deposits $187,786
    IRAs and Keogh plan accounts $13,908
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $230,558
    Cash & Balances due from depository institutions $9,520
    Interest-bearing balances $3,532
    Total securities $32,695
    Federal funds sold & reverse repurchase $11,988
    Net loans and leases $165,813
    Loan and leases loss allowance $1,340
    Trading account assets $0
    Bank premises and fixed assets $3,450
    Other real estate owned $403
    Goodwill and other intangibles $0
    All other assets $6,689

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $230,558
    Total Liabilities $211,393
    Total deposits $198,103
    Interest-bearing deposits $161,895
    Deposits held in domestic offices $198,103
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $11,615
    Subordinated debt $0
    All other liabilities $1,675

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $165,813
    Loan and leases loss allowance $1,340
    Total loans and leases (domestic) $167,153
    All real estate loans $145,787
    Real estate loans in domestic offices $145,787
    Construction and development loans $7,925
    Residential 1-4 family construction $6,177
    Other construction, all land development and other land $1,748
    Loans secured by nonfarm nonresidential properties $22,443
    Nonfarm nonresidential secured by owner-occupied properties $6,868
    Commercial real estate & other non-farm, non-residential $15,575
    Multifamily residential real estate $3,468
    1-4 family residential loans $94,218
    Farmland loans $17,733
    Loans held in foreign offices $0
    Farm loans $3,436
    Commercial and industrial loans $9,642
    To non-U.S. addressees $0
    Loans to individuals $8,258
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,152
    Other loans to individuals $4,106
    All other loans & leases $30
    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 $99
    Non 1-4 family restructured loans & leases $14
    Total loans and leases (foreign) $0

    Morgantown Bank & Trust Company Incorporated had $165,813,000 of loans outstanding in 2020. $145,787,000 of loans were in real estate loans. $7,925,000 of loans were in development loans. $3,468,000 of loans were in multifamily mortgage loans. $94,218,000 of loans were in 1-4 family mortgage loans. $3,436,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,152,000 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 122 $18,554 $152,082
    Nonfarm, nonresidential loans - <$100k 45 $1,606 $35,689
    Nonfarm, nonresidential loans - $100-250k 42 $4,983 $118,643
    Nonfarm, nonresidential loans - $250k-1MM 35 $11,965 $341,857
    Commercial & Industrial, US addressed loans - <$1MM 229 $6,895 $30,109
    Commercial & Industrial, US addressed loans - <$100k 200 $3,562 $17,810
    Commercial & Industrial, US addressed loans - $100-250k 19 $1,244 $65,474
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $2,089 $208,900
    Farmland loans - <$1MM 100 $11,995 $119,950
    Farmland loans - <$100k 48 $1,986 $41,375
    Farmland loans - $100-250k 34 $4,653 $136,853
    Farmland loans - $250k-1MM 18 $5,356 $297,556
    Agriculture operations loans - <$1MM 58 $1,378 $23,759
    Agriculture operations loans - <$100k 54 $899 $16,648
    Agriculture operations loans - $100-250k 3 $283 $94,333
    Agriculture operations loans - $250k-1MM 1 $196 $196,000