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, Nashville, Central City, and Glasgow among others. We have data for 5 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 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 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

    154

    Origination Dollar Volume (All Markets)

    $25,760,000

    Employee count

    55

    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) 141 $23,005,000 $163,156 $1,578 4.01%
    Outside of Metro Areas 9 $1,495,000 $166,111 $1,789 4.09%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $875,000 $875,000 $0 4.25%
    Central City, KY (FHA|USDA|VA) 2 $300,000 $150,000 $1,978 4.13%
    Glasgow, KY (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.85%
    Morgantown Bank & Trust Company Incorporated's top markets include Bowling Green, Nashville, Central City, 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.

    SERVICE ONE
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    Similarity Rank: 190
    Edmonton State Bank
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    Abound Federal Credit Union
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    Similarity Rank: 665
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    Similarity Rank: 1184
    SOUTH CENTRAL BANK, INC.
    Similarity Rank: 1449
    German American Bank
    Similarity Rank: 1598
    LAKEVIEW LOAN SERVICING, LLC
    Similarity Rank: 4265
    Republic State Mortgage Co.
    Similarity Rank: 5355

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 154 $25,760,000 $167,273 $1,596 4.02%

    For 2021, Morgantown Bank & Trust Company Incorporated's most frequently originated type of loan was Conventional, with 154 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 72 $14,680,000 $203,889 $1,492 3.93%
    Home Purchase 70 $10,350,000 $147,857 $1,873 4.07%
    Home Improvement 7 $405,000 $57,857 $1,084 4.19%
    Other 5 $325,000 $65,000 $1,290 4.25%

    For 2021, Morgantown Bank & Trust Company Incorporated's most frequently cited loan purpose was Refi, with 72 originations. The 2nd most popular reason was Home Purchase, with 70 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 51 $8,855,000 $173,627 $1,683 4.12%
    20 Year 41 $5,455,000 $133,049 $1,665 4.11%
    15 Year 25 $4,875,000 $195,000 $1,389 3.68%
    Other 13 $3,115,000 $239,615 $1,730 3.93%
    10 Year 12 $1,480,000 $123,333 $1,330 3.94%
    1 Year 8 $1,840,000 $230,000 $1,896 4.06%
    5 Year 4 $140,000 $35,000 $938 4.38%

    For 2021, Morgantown Bank & Trust Company Incorporated's most frequently cited loan duration was 30 Year, with 51 originations. The 2nd most popular length was 20 Year, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 93 $14,315,000 $153,925

    Morgantown Bank & Trust Company Incorporated's average total fees were $1,683, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 93 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 86 $13,270,000 $154,302
    3-4% 61 $10,745,000 $176,148
    2.5-3% 7 $1,745,000 $249,286

    During 2021, Morgantown Bank & Trust Company Incorporated's average interest rate for loans was 4.12%, while their most frequently originated rate bucket for loans was 4-5%, with 86 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 61 $3,725,000 $61,066 $1,403 4.16%
    $100k-200k 53 $7,505,000 $141,604 $1,690 3.98%
    $200k-400k 33 $9,105,000 $275,909 $1,663 3.88%
    $400k-600k 4 $1,940,000 $485,000 $1,806 3.45%
    $600k-1MM 2 $1,860,000 $930,000 $3,996 4.20%
    $1MM+ 1 $1,625,000 $1,625,000 $0 3.90%

    2021 saw Morgantown Bank & Trust Company Incorporated place emphasis on $100,000 or less loans with 61 originations, totaling $3,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 39 $4,165,000 $106,795 $1,471 4.16%
    $50k-75k 30 $3,680,000 $122,667 $1,569 4.04%
    $75k-100k 21 $3,285,000 $156,429 $1,668 4.04%
    $100k-150k 17 $3,285,000 $193,235 $2,142 4.02%
    $150k-250k 8 $1,600,000 $200,000 $1,390 3.80%
    $250k+ 8 $2,850,000 $356,250 $1,536 3.77%

    Morgantown Bank & Trust Company Incorporated lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 28 $3,530,000 $126,071 $1,494 4.04%
    <20% 21 $2,445,000 $116,429 $1,619 3.99%
    30-36% 16 $2,200,000 $137,500 $1,657 3.97%
    38% 4 $480,000 $120,000 $1,350 3.81%
    37% 3 $225,000 $75,000 $1,963 4.33%
    50-60% 2 $270,000 $135,000 $1,271 4.28%
    36% 2 $290,000 $145,000 $1,830 4.28%
    40% 2 $130,000 $65,000 $1,863 4.28%
    42% 1 $75,000 $75,000 $1,039 3.75%
    43% 1 $205,000 $205,000 $2,409 4.00%
    47% 1 $95,000 $95,000 $0 3.85%
    41% 1 $305,000 $305,000 $1,133 4.30%

    Morgantown Bank & Trust Company Incorporated lent most frequently to those with DTI ratios of 20-30%, with 28 originations. The next most common DTI ratio? <20%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 126 $21,220,000 $168,413 $1,591 4.02%
    Not applicable 27 $4,325,000 $160,185 $0 4.03%
    Black 1 $215,000 $215,000 $2,039 4.25%

    Approval Rates

    Total approvals of all applications
    95.53%

    Morgantown Bank & Trust Company Incorporated has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    88.96%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 154 $25,760,000 $167,273

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    154 $25,760,000 $167,273

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 14 $1,700,000 $121,429 $1,380 3.82%
    40-60% 34 $5,130,000 $150,882 $1,490 4.01%
    60-80% 57 $11,225,000 $196,930 $1,801 4.06%
    80-100% 41 $7,415,000 $180,854 $1,552 3.98%
    Under 20% 8 $290,000 $36,250 $1,129 4.34%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Merchants and Medical Credit Corporation, Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%

    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 $20,120
    Morgantown Bank & Trust Company, Incorporated 1945 Scottsville Road Suite C-5 Bowling Green, KY 42104 Full Service B&M $26,884
    Morgantown Bank & Trust Company, Incorporated 201 N Main Street Morgantown, KY 42261 Full Service B&M $146,639
    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 $26,822

    For 2021, Morgantown Bank & Trust Company Incorporated had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,733
    Net interest income $9,161
    Total noninterest income $1,686
    Gross Fiduciary activities income $25
    Service charges on deposit accounts $527
    Trading account gains and fees $0
    Additional Noninterest Income $1,134
    Pre-tax net operating income $3,646
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,813
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,813
    Minority interest net income $0
    Net income $2,813
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,813

    Morgantown Bank & Trust Company Incorporated's gross interest income from loans was $10,733,000.
    Morgantown Bank & Trust Company Incorporated's net interest income from loans was $9,161,000.
    Morgantown Bank & Trust Company Incorporated's fee based income from loans was $527,000.
    Morgantown Bank & Trust Company Incorporated's net income from loans was $2,813,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,572
    Provision for credit losses $116
    Total noninterest expense $7,085
    Salaries and employee benefits $3,681
    Premises and equipment expense $792
    Additional noninterest expense $2,612
    Applicable income taxes $833
    Net charge-offs $15
    Cash dividends $528

    Morgantown Bank & Trust Company Incorporated's interest expense for loans was $1,572,000.
    Morgantown Bank & Trust Company Incorporated's payroll and benefits expense were $3,681,000.
    Morgantown Bank & Trust Company Incorporated's property, plant and equipment expenses $792,000.

    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 $224,982
    Deposits held in domestic offices $224,982
    Deposits by Individuals, partnerships, and corporations $202,303
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $22,679
    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 $96,604
    Demand deposits $91,626
    Nontransaction accounts $128,378
    Money market deposit accounts (MMDAs) $19,808
    Other savings deposits (excluding MMDAs) $43,171
    Total time deposits $65,399
    Total time and savings deposits $133,356
    Noninterest-bearing deposits $44,796
    Interest-bearing deposits $180,186
    Retail deposits $215,430
    IRAs and Keogh plan accounts $15,546
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $257,667
    Cash & Balances due from depository institutions $7,597
    Interest-bearing balances $4,086
    Total securities $64,377
    Federal funds sold & reverse repurchase $4,985
    Net loans and leases $169,405
    Loan and leases loss allowance $1,441
    Trading account assets $0
    Bank premises and fixed assets $3,651
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $7,652

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $257,667
    Total Liabilities $236,694
    Total deposits $224,982
    Interest-bearing deposits $180,186
    Deposits held in domestic offices $224,982
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $10,060
    Subordinated debt $0
    All other liabilities $1,652

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $169,405
    Loan and leases loss allowance $1,441
    Total loans and leases (domestic) $170,846
    All real estate loans $150,156
    Real estate loans in domestic offices $150,156
    Construction and development loans $8,858
    Residential 1-4 family construction $6,703
    Other construction, all land development and other land $2,155
    Loans secured by nonfarm nonresidential properties $20,188
    Nonfarm nonresidential secured by owner-occupied properties $4,144
    Commercial real estate & other non-farm, non-residential $16,044
    Multifamily residential real estate $5,103
    1-4 family residential loans $95,397
    Farmland loans $20,610
    Loans held in foreign offices $0
    Farm loans $2,984
    Commercial and industrial loans $9,157
    To non-U.S. addressees $0
    Loans to individuals $8,540
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,922
    Other loans to individuals $4,618
    All other loans & leases $9
    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 $13
    Non 1-4 family restructured loans & leases $13
    Total loans and leases (foreign) $0

    Morgantown Bank & Trust Company Incorporated had $169,405,000 of loans outstanding in 2021. $150,156,000 of loans were in real estate loans. $8,858,000 of loans were in development loans. $5,103,000 of loans were in multifamily mortgage loans. $95,397,000 of loans were in 1-4 family mortgage loans. $2,984,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,922,000 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 107 $16,405 $153,318
    Nonfarm, nonresidential loans - <$100k 39 $1,412 $36,205
    Nonfarm, nonresidential loans - $100-250k 32 $3,410 $106,563
    Nonfarm, nonresidential loans - $250k-1MM 36 $11,583 $321,750
    Commercial & Industrial, US addressed loans - <$1MM 175 $7,340 $41,943
    Commercial & Industrial, US addressed loans - <$100k 148 $2,830 $19,122
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,290 $75,882
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $3,220 $322,000
    Farmland loans - <$1MM 95 $10,525 $110,789
    Farmland loans - <$100k 45 $1,842 $40,933
    Farmland loans - $100-250k 30 $3,469 $115,633
    Farmland loans - $250k-1MM 20 $5,214 $260,700
    Agriculture operations loans - <$1MM 42 $1,082 $25,762
    Agriculture operations loans - <$100k 38 $574 $15,105
    Agriculture operations loans - $100-250k 3 $337 $112,333
    Agriculture operations loans - $250k-1MM 1 $171 $171,000