First Southern National Bank Mortgage Rates, Fees & Info

Lancaster, KY

LEI: 549300C853H86L248593

Tax ID: 61-0290000

5 stars - out of 5 stars, based on 23 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Southern National Bank is a smaller bank specializing in Home Purchase and Refi loans. First Southern National Bank has a high proportion of conventional loans. Their top markets include Bowling Green, Lexington, Danville, Central City, and Richmond among others. First Southern National Bank has an above average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors. First Southern National Bank is typically a low fee lendor.


Originations

543

Origination Dollar Volume (All Markets)

$94,275,000

Employee count

196

Relative Rate

First Southern National Bank's average 30 year fixed rate mortgage of loans were 3.79%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.64%.

Relative Fees

First Southern National Bank's average total fees for a 30 year fixed rate mortgage are $2,540.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 227 $32,795,000 $144,471 $1,634 4.28%
BOWLING GREEN, KY (FHA|USDA|VA) 66 $14,300,000 $216,667 $2,284 4.14%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 35 $8,815,000 $251,857 $3,040 4.06%
Danville, KY (FHA|USDA|VA) 48 $7,900,000 $164,583 $1,931 4.23%
Central City, KY (FHA|USDA|VA) 72 $7,020,000 $97,500 $1,443 4.25%
Richmond-Berea, KY (FHA|USDA|VA) 27 $6,075,000 $225,000 $2,761 4.24%
Somerset, KY (FHA|USDA|VA) 14 $2,470,000 $176,429 $2,090 4.26%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 15 $2,265,000 $151,000 $2,300 4.24%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 5 $2,255,000 $451,000 $3,603 3.57%
MIDLAND, TX (FHA|USDA|VA) 1 $1,305,000 $1,305,000 $10,944 3.79%
Frankfort, KY (FHA|USDA|VA) 5 $1,255,000 $251,000 $3,041 4.04%
EVANSVILLE, IN-KY (FHA|USDA|VA) 3 $1,065,000 $355,000 $0 4.17%
Sevierville, TN (FHA|USDA|VA) 1 $945,000 $945,000 $0 4.25%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $865,000 $865,000 $0 3.90%
PITTSBURGH, PA (FHA|USDA|VA) 1 $785,000 $785,000 $14,459 4.50%
Madisonville, KY (FHA|USDA|VA) 4 $580,000 $145,000 $3,753 4.34%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $385,000 $385,000 $5,215 3.95%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 3.95%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $325,000 $325,000 $5,766 4.31%
PANAMA CITY, FL (FHA|USDA|VA) 2 $320,000 $160,000 $1,315 3.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.95%
London, KY (FHA|USDA|VA) 1 $305,000 $305,000 $4,925 3.95%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $290,000 $145,000 $2,396 4.51%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.95%
MORRISTOWN, TN (FHA|USDA|VA) 1 $275,000 $275,000 $2,872 3.87%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.20%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.50%
OWENSBORO, KY (FHA|USDA|VA) 1 $115,000 $115,000 $1,765 3.10%
KNOXVILLE, TN (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.50%
Glasgow, KY (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.75%
Greenville, OH (FHA|USDA|VA) 1 $65,000 $65,000 $2,114 3.75%
Lawrenceburg, TN (FHA|USDA|VA) 1 $15,000 $15,000 $1,984 4.32%

First Southern National Bank's top markets include Bowling Green, Lexington, Danville, Central City, and Richmond among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 543 $94,275,000 $173,619 $1,985 4.22%

For the 2021 period, First Southern National Bank's most frequently originated loan type of loans were Conventional, with 543 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 271 $55,985,000 $206,587 $2,539 4.20%
Refi 217 $32,415,000 $149,378 $1,413 4.20%
Home Improvement 31 $3,135,000 $101,129 $1,683 4.34%
Other 24 $2,740,000 $114,167 $2,059 4.44%

For the 2021, First Southern National Bank's most frequently cited loan purpose of loans were Home Purchase, with 271 originations. The 2nd most popular reason of loans were Refi, with 217 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 211 $46,275,000 $219,313 $2,267 4.10%
15 Year 89 $13,645,000 $153,315 $1,750 4.25%
20 Year 75 $12,435,000 $165,800 $1,646 4.09%
10 Year 71 $4,875,000 $68,662 $1,237 4.64%
1 Year 51 $8,055,000 $157,941 $2,244 4.19%
5 Year 28 $3,550,000 $126,786 $1,094 4.60%
30 Year 10 $2,100,000 $210,000 $2,540 3.79%
30+ year 5 $3,005,000 $601,000 $3,518 3.83%
3 Year 3 $335,000 $111,667 $2,215 4.43%

For the 2021, First Southern National Bank's most frequently cited loan length of loans were Other, with 211 originations. The 2nd most popular length of loans were 15 Year, with 89 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 160 $14,540,000 $90,875
$1k-2k 111 $17,205,000 $155,000
$2k-3k 36 $9,080,000 $252,222
$3k-4k 21 $9,695,000 $461,667
$5k+ 6 $4,060,000 $676,667

$2,540 of loans were First Southern National Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 160 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 247 $58,805,000 $238,077
4-5% 245 $31,065,000 $126,796
5-6% 44 $3,530,000 $80,227
6-7% 4 $180,000 $45,000
<2.5% 2 $290,000 $145,000
2.5-3% 1 $405,000 $405,000

During 2021, First Southern National Bank's average interest rate of loans were 3.79%, while their most frequently originated rate bucket of loans were 3-4%, with 247 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 255 $13,725,000 $53,824 $1,204 4.44%
$100k-200k 150 $21,530,000 $143,533 $1,797 4.06%
$200k-400k 97 $26,115,000 $269,227 $2,815 4.03%
$400k-600k 22 $10,640,000 $483,636 $4,240 3.83%
$600k-1MM 13 $10,575,000 $813,462 $10,095 4.00%
$1MM+ 6 $11,690,000 $1,948,333 $5,916 3.87%

2021 saw First Southern National Bank place emphasis on $100,000 or less loans with 255 originations, totaling $13,725,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 111 $7,225,000 $65,090 $1,256 4.42%
$100k-150k 109 $18,395,000 $168,761 $2,164 4.17%
$50k-75k 91 $10,675,000 $117,308 $1,848 4.24%
$75k-100k 80 $11,000,000 $137,500 $2,092 4.20%
$150k-250k 43 $10,405,000 $241,977 $2,616 4.11%
$250k+ 23 $8,835,000 $384,130 $5,265 4.06%

First Southern National Bank lent most frequently to those with incomes in the $50k or less range, with 111 originations. The second most popular income band? $100k-150k, with 109 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 142 $18,510,000 $130,352 $1,820 4.27%
<20% 78 $9,720,000 $124,615 $1,931 4.14%
30-36% 71 $9,685,000 $136,408 $1,906 4.21%
50-60% 25 $5,015,000 $200,600 $3,095 4.35%
>60% 18 $2,110,000 $117,222 $3,353 4.59%
40% 15 $1,935,000 $129,000 $1,624 4.49%
36% 14 $2,040,000 $145,714 $1,825 4.17%
39% 14 $2,730,000 $195,000 $1,788 4.10%
43% 12 $1,790,000 $149,167 $2,061 4.12%
45% 9 $1,605,000 $178,333 $1,866 4.01%
41% 9 $1,845,000 $205,000 $2,728 3.94%
38% 8 $1,580,000 $197,500 $1,738 3.98%
47% 8 $1,730,000 $216,250 $1,651 3.98%
37% 8 $1,820,000 $227,500 $2,763 4.12%
49% 5 $845,000 $169,000 $2,163 4.67%
44% 5 $575,000 $115,000 $1,122 4.44%
46% 5 $1,715,000 $343,000 $3,615 3.99%
48% 5 $655,000 $131,000 $2,018 4.17%
42% 4 $590,000 $147,500 $1,826 4.08%

First Southern National Bank lent most frequently to those with DTI ratios of 20-30%, with 142 originations. The next most common DTI ratio? <20%, with 78 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 455 $66,835,000 $146,890 $1,956 4.22%
Not applicable 78 $25,880,000 $331,795 $0 4.16%
Black 9 $1,315,000 $146,111 $3,832 4.54%
Asian 1 $245,000 $245,000 $0 3.95%

Approval Rates

Total approvals of all applications
97.36%

First Southern National Bank 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
95.59%

First Southern National Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
1124.0 1 $75,000 $75,000
294.0 1 $5,000 $5,000
544.0 3 $165,000 $55,000
644.0 1 $35,000 $35,000
NA 537 $93,995,000 $175,037

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
543 $94,275,000 $173,619

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 55 $7,755,000 $141,000 $1,253 4.25%
40-60% 104 $15,710,000 $151,058 $1,940 4.31%
60-80% 198 $40,850,000 $206,313 $2,235 4.18%
80-100% 156 $27,820,000 $178,333 $2,044 4.16%
Over 100% 9 $1,245,000 $138,333 $1,849 4.33%
Under 20% 20 $860,000 $43,000 $1,136 4.47%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST NATIONAL BANK OF OMAHA FHA mortgage Improper use of your report 1 25.0%
FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 1 25.0%
FIRST NATIONAL BANK OF OMAHA Other type of mortgage Struggling to pay mortgage 1 25.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First Southern National Bank 3060 Harrodsburg Road, Suite 205 Lexington, KY 40503 Full Service B&M $54,454
First Southern National Bank 401 North Main Street Greenville, KY 42345 Full Service B&M $35,816
First Southern National Bank 88 South Bethel Street Russellville, KY 42276 Full Service B&M $203,148
First Southern National Bank 894 Richmond Plaza Richmond, KY 40475 Full Service B&M $52,781
First Southern National Bank 100 North Main Street Monticello, KY 42633 Full Service B&M $76,390
First Southern National Bank 101 West Washington Street Princeton, KY 42445 Full Service B&M $76,047
First Southern National Bank 1013 West Main Street Princeton, KY 42445 Full Service B&M $12,165
First Southern National Bank 102 West Main Street Stanford, KY 40484 Full Service B&M $65,513
First Southern National Bank 103 Vincent Drive Stanford, KY 40484 Full Service B&M $124,458
First Southern National Bank 1195 North Main Street Monticello, KY 42633 Full Service B&M $0
First Southern National Bank 1214 Ashley Circle Bowling Green, KY 42103 Full Service B&M $21,202
First Southern National Bank 130 West Broad Street Central City, KY 42330 Full Service B&M $77,919
First Southern National Bank 15 North Highway 27 Somerset, KY 42501 Full Service B&M $76,342
First Southern National Bank 204 Fairfield Drive Nicholasville, KY 40340 Full Service B&M $51,346
First Southern National Bank 27 Public Square Lancaster, KY 40444 Full Service B&M $76,288

For 2021, First Southern National Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $37,190
Net interest income $36,194
Total noninterest income $6,445
Gross Fiduciary activities income $0
Service charges on deposit accounts $2,080
Trading account gains and fees $0
Additional Noninterest Income $4,365
Pre-tax net operating income $13,107
Securities gains (or losses, -) $-1,076
Income before extraordinary items $9,284
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $9,284
Minority interest net income $0
Net income $9,284
Sale, conversion, retirement of capital stock, net $0
Net operating income $10,134

First Southern National Bank's gross interest income from loans was $37,190,000.
First Southern National Bank's net interest income from loans was $36,194,000.
First Southern National Bank's fee based income from loans was $2,080,000.
First Southern National Bank's net income from loans was $9,284,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $996
Provision for credit losses $533
Total noninterest expense $28,999
Salaries and employee benefits $13,952
Premises and equipment expense $3,055
Additional noninterest expense $11,992
Applicable income taxes $2,747
Net charge-offs $176
Cash dividends $4,000

First Southern National Bank's interest expense for loans was $996,000.
First Southern National Bank's payroll and benefits expense were $13,952,000.
First Southern National Bank's property, plant and equipment expenses $3,055,000.

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 2.0%
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 $1,065,042
Deposits held in domestic offices $1,065,042
Deposits by Individuals, partnerships, and corporations $973,116
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $91,754
Deposits by Commercial banks and other depository institutions in U.S. $172
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $695,197
Demand deposits $695,197
Nontransaction accounts $369,845
Money market deposit accounts (MMDAs) $54,423
Other savings deposits (excluding MMDAs) $202,256
Total time deposits $113,166
Total time and savings deposits $369,845
Noninterest-bearing deposits $277,764
Interest-bearing deposits $787,278
Retail deposits $1,048,854
IRAs and Keogh plan accounts $30,027
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,180,778
Cash & Balances due from depository institutions $222,611
Interest-bearing balances $203,494
Total securities $283,762
Federal funds sold & reverse repurchase $127
Net loans and leases $621,870
Loan and leases loss allowance $10,349
Trading account assets $0
Bank premises and fixed assets $22,530
Other real estate owned $685
Goodwill and other intangibles $15,727
All other assets $13,466

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,180,778
Total Liabilities $1,072,084
Total deposits $1,065,042
Interest-bearing deposits $787,278
Deposits held in domestic offices $1,065,042
% insured (estimated) $75
Federal funds purchased and repurchase agreements $2,753
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $4,289

Issued Loan Types

Type Value (in 000's)
Net loans and leases $621,870
Loan and leases loss allowance $10,349
Total loans and leases (domestic) $632,219
All real estate loans $531,137
Real estate loans in domestic offices $531,137
Construction and development loans $41,880
Residential 1-4 family construction $16,809
Other construction, all land development and other land $25,071
Loans secured by nonfarm nonresidential properties $190,571
Nonfarm nonresidential secured by owner-occupied properties $70,000
Commercial real estate & other non-farm, non-residential $120,571
Multifamily residential real estate $15,544
1-4 family residential loans $242,093
Farmland loans $41,049
Loans held in foreign offices $0
Farm loans $7,289
Commercial and industrial loans $68,182
To non-U.S. addressees $0
Loans to individuals $22,886
Credit card loans $0
Related Plans $1,030
Consumer Auto Loans $10,435
Other loans to individuals $11,421
All other loans & leases $5,097
Loans to foreign governments and official institutions $0
Other loans $450
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 $663
Non 1-4 family restructured loans & leases $217
Total loans and leases (foreign) $0

First Southern National Bank had $621,870,000 of loans outstanding in 2021. $531,137,000 of loans were in real estate loans. $41,880,000 of loans were in development loans. $15,544,000 of loans were in multifamily mortgage loans. $242,093,000 of loans were in 1-4 family mortgage loans. $7,289,000 of loans were in farm loans. $0 of loans were in credit card loans. $10,435,000 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 375 $61,351 $163,603
Nonfarm, nonresidential loans - <$100k 124 $4,765 $38,427
Nonfarm, nonresidential loans - $100-250k 135 $16,521 $122,378
Nonfarm, nonresidential loans - $250k-1MM 116 $40,065 $345,388
Commercial & Industrial, US addressed loans - <$1MM 1,065 $37,813 $35,505
Commercial & Industrial, US addressed loans - <$100k 963 $18,580 $19,294
Commercial & Industrial, US addressed loans - $100-250k 58 $5,315 $91,638
Commercial & Industrial, US addressed loans - $250k-1MM 44 $13,918 $316,318
Farmland loans - <$1MM 283 $28,300 $100,000
Farmland loans - <$100k 137 $5,088 $37,139
Farmland loans - $100-250k 105 $12,809 $121,990
Farmland loans - $250k-1MM 41 $10,403 $253,732
Agriculture operations loans - <$1MM 329 $6,932 $21,070
Agriculture operations loans - <$100k 316 $5,709 $18,066
Agriculture operations loans - $100-250k 12 $1,071 $89,250
Agriculture operations loans - $250k-1MM 1 $152 $152,000