First Southern National Bank Mortgage Rates, Fees & Info

Lancaster, KY

LEI: 549300C853H86L248593

Tax ID: 61-0290000

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

Review & 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 by origination volume include: Bowling Green, Central City, Richmond, Danville, and Somerset among others. We have data for 24 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Southern National Bank 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. First Southern National 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.27%	4/21/24
30 Year Conventional Purchase	6.60%	4/21/24
30 Year Conventional Refi	6.87%	4/21/24
15 Year Conventional Purchase	6.35%	4/21/24
15 Year Conventional Refi	6.47%	4/21/24
15 Year Cash-out Refi	6.47%	4/21/24
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.

First Southern National Bank Mortgage Calculator

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This is not an official calculator from First Southern National Bank. 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

540

Origination Dollar Volume (All Markets)

$68,380,000

Employee count

217

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
Outside of Metro Areas	228	$23,600,000	$103,509	$1,355	5.47%
BOWLING GREEN, KY (FHA\|USDA\|VA)	70	$17,110,000	$244,429	$2,036	5.10%
Central City, KY (FHA\|USDA\|VA)	66	$4,980,000	$75,455	$1,202	5.55%
Richmond-Berea, KY (FHA\|USDA\|VA)	40	$4,960,000	$124,000	$1,699	5.16%
Danville, KY (FHA\|USDA\|VA)	51	$4,715,000	$92,451	$1,292	5.47%
Somerset, KY (FHA\|USDA\|VA)	29	$3,195,000	$110,172	$918	5.46%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	20	$2,760,000	$138,000	$1,828	5.26%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	4	$1,160,000	$290,000	$3,631	5.54%
OKLAHOMA CITY, OK (FHA\|USDA\|VA)	1	$1,005,000	$1,005,000	$12,757	5.15%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$905,000	$905,000	$15,781	4.45%
AUBURN-OPELIKA, AL (FHA\|USDA\|VA)	2	$660,000	$330,000	$0	5.15%
Madisonville, KY (FHA\|USDA\|VA)	5	$595,000	$119,000	$1,172	5.27%
OWENSBORO, KY (FHA\|USDA\|VA)	6	$480,000	$80,000	$1,087	5.45%
London, KY (FHA\|USDA\|VA)	1	$325,000	$325,000	$3,090	4.71%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	2	$320,000	$160,000	$0	5.20%
PANAMA CITY, FL (FHA\|USDA\|VA)	1	$295,000	$295,000	$0	4.89%
Glasgow, KY (FHA\|USDA\|VA)	2	$280,000	$140,000	$831	4.55%
CLARKSVILLE, TN-KY (FHA\|USDA\|VA)	4	$250,000	$62,500	$1,305	5.30%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	4.51%
Frankfort, KY (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	4.70%
Campbellsville, KY (FHA\|USDA\|VA)	2	$140,000	$70,000	$1,553	5.20%
LOUISVILLE, KY (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,180	6.11%
EVANSVILLE, IN-KY (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,191	4.87%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	4.96%

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

Their top states include:

Kentucky (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Oklahoma (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Similar Lenders

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

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	540	$68,380,000	$126,630	$1,495	5.38%

For 2018, First Southern National Bank's most frequently originated type of loan was Conventional, with 540 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	257	$39,045,000	$151,926	$2,150	5.35%
Refi	230	$25,830,000	$112,304	$982	5.41%
Home Improvement	30	$1,320,000	$44,000	$948	5.43%
Other	23	$2,185,000	$95,000	$1,625	5.34%

For 2018, First Southern National Bank's most frequently cited loan purpose was Home Purchase, with 257 originations. The 2nd most popular reason was Refi, with 230 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	387	$54,395,000	$140,556	$1,730	5.40%
10 Year	72	$4,130,000	$57,361	$968	5.11%
15 Year	31	$2,095,000	$67,581	$1,197	5.58%
20 Year	23	$2,185,000	$95,000	$1,299	5.73%
5 Year	11	$245,000	$22,273	$953	5.99%
1 Year	9	$2,285,000	$253,889	$3,329	4.44%
30+ year	3	$1,135,000	$378,333	$4,123	5.16%
30 Year	3	$355,000	$118,333	$911	6.03%
3 Year	1	$1,555,000	$1,555,000	$653	4.88%

For 2018, First Southern National Bank's most frequently cited loan duration was Other, with 387 originations. The 2nd most popular length was 10 Year, with 72 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	212	$16,770,000	$79,104
$1k-2k	63	$8,755,000	$138,968
$2k-3k	16	$4,290,000	$268,125
$5k+	5	$4,265,000	$853,000
$3k-4k	4	$1,650,000	$412,500
$4k-5k	2	$1,150,000	$575,000

First Southern National Bank's average total fees were $911, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 212 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	322	$41,150,000	$127,795
4-5%	143	$21,995,000	$153,811
6-7%	59	$4,265,000	$72,288
7-8%	8	$390,000	$48,750
3-4%	7	$545,000	$77,857

During 2018, First Southern National Bank's average interest rate for loans was 6.03%, while their most frequently originated rate bucket for loans was 5-6%, with 322 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	327	$16,655,000	$50,933	$1,012	5.47%
$100k-200k	136	$19,130,000	$140,662	$1,471	5.25%
$200k-400k	53	$13,865,000	$261,604	$2,359	5.27%
$400k-600k	12	$5,920,000	$493,333	$4,878	5.17%
$600k-1MM	7	$5,505,000	$786,429	$8,209	5.15%
$1MM+	5	$7,305,000	$1,461,000	$8,740	4.95%

2018 saw First Southern National Bank place emphasis on $100,000 or less loans with 327 originations, totaling $16,655,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	127	$7,805,000	$61,457	$1,178	5.44%
$50k-75k	104	$8,550,000	$82,212	$1,148	5.49%
$75k-100k	72	$7,920,000	$110,000	$1,589	5.45%
$100k-150k	64	$7,850,000	$122,656	$1,689	5.43%
$150k-250k	37	$6,425,000	$173,649	$2,114	5.22%
$250k+	19	$8,215,000	$432,368	$4,186	5.08%

First Southern National Bank lent most frequently to those with incomes in the $50k or less range, with 127 originations. The second most popular income band? $50k-75k, with 104 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	127	$12,515,000	$98,543	$1,346	5.38%
<20%	71	$7,245,000	$102,042	$1,134	5.13%
30-36%	64	$7,600,000	$118,750	$1,710	5.41%
50-60%	33	$4,525,000	$137,121	$1,621	5.54%
39%	15	$1,745,000	$116,333	$1,687	5.62%
>60%	14	$3,840,000	$274,286	$4,990	5.39%
38%	12	$1,260,000	$105,000	$2,089	5.28%
40%	11	$1,225,000	$111,364	$941	5.42%
36%	10	$920,000	$92,000	$1,048	5.24%
42%	9	$1,045,000	$116,111	$1,553	5.83%
37%	9	$695,000	$77,222	$1,231	5.53%
41%	7	$615,000	$87,857	$1,103	5.38%
44%	7	$875,000	$125,000	$1,320	5.58%
43%	6	$360,000	$60,000	$919	5.34%
45%	5	$405,000	$81,000	$1,498	5.74%
47%	4	$610,000	$152,500	$1,071	5.46%
48%	4	$380,000	$95,000	$0	5.28%
49%	4	$410,000	$102,500	$1,279	5.77%
46%	3	$195,000	$65,000	$928	5.92%

First Southern National Bank lent most frequently to those with DTI ratios of 20-30%, with 127 originations. The next most common DTI ratio? <20%, with 71 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	431	$47,845,000	$111,009	$1,457	5.41%
Not applicable	97	$19,585,000	$201,907	$15,781	5.23%
Asian	5	$715,000	$143,000	$1,298	5.09%
Black	6	$160,000	$26,667	$679	5.62%
Not provided	1	$75,000	$75,000	$0	5.99%

Approval Rates

Total approvals of all applications
96.91%

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
95.56%

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
494.0	1	$35,000	$35,000
NA	539	$68,345,000	$126,800

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$175,000	$175,000
Multifamily:Site-Built	29	$12,045,000	$415,345
Single Family (1-4 Units):Manufactured	34	$1,410,000	$41,471
Single Family (1-4 Units):Site-Built	476	$54,750,000	$115,021

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	65	$4,365,000	$67,154	$902	5.38%
40-60%	92	$10,040,000	$109,130	$1,139	5.40%
60-80%	198	$29,320,000	$148,081	$1,689	5.35%
80-100%	152	$22,910,000	$150,724	$1,964	5.45%
Over 100%	11	$1,095,000	$99,545	$1,293	5.37%
Under 20%	21	$605,000	$28,810	$766	5.12%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	50.0%
FIRST NATIONAL BANK OF OMAHA	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	50.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Southern National Bank	15 North Highway 27 Somerset, KY 42501	Full Service B&M	$46,254
First Southern National Bank	100 North Main Street Monticello, KY 42633	Full Service B&M	$56,544
First Southern National Bank	101 West Washington Street Princeton, KY 42445	Full Service B&M	$69,042
First Southern National Bank	1013 West Main Street Princeton, KY 42445	Full Service B&M	$12,581
First Southern National Bank	102 West Main Street Stanford, KY 40484	Full Service B&M	$14,359
First Southern National Bank	103 Vincent Drive Stanford, KY 40484	Full Service B&M	$132,235
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	$11,569
First Southern National Bank	130 West Broad Street Central City, KY 42330	Full Service B&M	$65,218
First Southern National Bank	204 Fairfield Drive Nicholasville, KY 40340	Full Service B&M	$35,808
First Southern National Bank	27 Public Square Lancaster, KY 40444	Full Service B&M	$56,596
First Southern National Bank	3060 Harrodsburg Road, Suite 205 Lexington, KY 40503	Full Service B&M	$39,450
First Southern National Bank	401 North Main Street Greenville, KY 42345	Full Service B&M	$35,842
First Southern National Bank	88 South Bethel Street Russellville, KY 42276	Full Service B&M	$144,915
First Southern National Bank	894 Richmond Plaza Richmond, KY 40475	Full Service B&M	$34,354

For 2018, First Southern National Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$36,666
Net interest income	$35,653
Total noninterest income	$6,325
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,746
Trading account gains and fees	$0
Additional Noninterest Income	$3,579
Pre-tax net operating income	$11,938
Securities gains (or losses, -)	$-100
Income before extraordinary items	$9,374
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$9,374
Minority interest net income	$0
Net income	$9,374
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$9,453

First Southern National Bank's gross interest income from loans was $36,666,000.
First Southern National Bank's net interest income from loans was $35,653,000.
First Southern National Bank's fee based income from loans was $2,746,000.
First Southern National Bank's net income from loans was $9,374,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,013
Provision for credit losses	$850
Total noninterest expense	$29,190
Salaries and employee benefits	$14,711
Premises and equipment expense	$3,248
Additional noninterest expense	$11,231
Applicable income taxes	$2,464
Net charge-offs	$411
Cash dividends	$6,000

First Southern National Bank's interest expense for loans was $1,013,000.
First Southern National Bank's payroll and benefits expense were $14,711,000.
First Southern National Bank's property, plant and equipment expenses $3,248,000.

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	$741,397
Deposits held in domestic offices	$741,397
Deposits by Individuals, partnerships, and corporations	$679,077
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$62,315
Deposits by Commercial banks and other depository institutions in U.S.	$5
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$84,243
Demand deposits	$84,243
Nontransaction accounts	$657,154
Money market deposit accounts (MMDAs)	$56,994
Other savings deposits (excluding MMDAs)	$464,639
Total time deposits	$135,521
Total time and savings deposits	$657,154
Noninterest-bearing deposits	$155,842
Interest-bearing deposits	$585,555
Retail deposits	$717,547
IRAs and Keogh plan accounts	$31,891
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$839,978
Cash & Balances due from depository institutions	$55,342
Interest-bearing balances	$33,913
Total securities	$126,456
Federal funds sold & reverse repurchase	$291
Net loans and leases	$603,057
Loan and leases loss allowance	$7,910
Trading account assets	$0
Bank premises and fixed assets	$24,130
Other real estate owned	$35
Goodwill and other intangibles	$15,781
All other assets	$14,886

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$839,978
Total Liabilities	$748,652
Total deposits	$741,397
Interest-bearing deposits	$585,555
Deposits held in domestic offices	$741,397
% insured (estimated)	$81
Federal funds purchased and repurchase agreements	$3,033
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$4,222

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$603,057
Loan and leases loss allowance	$7,910
Total loans and leases (domestic)	$610,967
All real estate loans	$527,557
Real estate loans in domestic offices	$527,557
Construction and development loans	$22,835
Residential 1-4 family construction	$12,010
Other construction, all land development and other land	$10,825
Loans secured by nonfarm nonresidential properties	$175,812
Nonfarm nonresidential secured by owner-occupied properties	$63,871
Commercial real estate & other non-farm, non-residential	$111,941
Multifamily residential real estate	$23,806
1-4 family residential loans	$256,416
Farmland loans	$48,688
Loans held in foreign offices	$0
Farm loans	$7,798
Commercial and industrial loans	$49,080
To non-U.S. addressees	$0
Loans to individuals	$20,946
Credit card loans	$0
Related Plans	$1,485
Consumer Auto Loans	$8,372
Other loans to individuals	$11,089
All other loans & leases	$7,465
Loans to foreign governments and official institutions	$0
Other loans	$821
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	$6,576
Non 1-4 family restructured loans & leases	$6,200
Total loans and leases (foreign)	$0

First Southern National Bank had $603,057,000 of loans outstanding in 2018. $527,557,000 of loans were in real estate loans. $22,835,000 of loans were in development loans. $23,806,000 of loans were in multifamily mortgage loans. $256,416,000 of loans were in 1-4 family mortgage loans. $7,798,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,372,000 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	399	$67,416	$168,962
Nonfarm, nonresidential loans - <$100k	151	$5,509	$36,483
Nonfarm, nonresidential loans - $100-250k	124	$14,980	$120,806
Nonfarm, nonresidential loans - $250k-1MM	124	$46,927	$378,444
Commercial & Industrial, US addressed loans - <$1MM	1,090	$34,133	$31,315
Commercial & Industrial, US addressed loans - <$100k	983	$17,531	$17,834
Commercial & Industrial, US addressed loans - $100-250k	68	$7,256	$106,706
Commercial & Industrial, US addressed loans - $250k-1MM	39	$9,346	$239,641
Farmland loans - <$1MM	351	$30,466	$86,798
Farmland loans - <$100k	188	$5,628	$29,936
Farmland loans - $100-250k	120	$14,058	$117,150
Farmland loans - $250k-1MM	43	$10,780	$250,698
Agriculture operations loans - <$1MM	367	$7,362	$20,060
Agriculture operations loans - <$100k	360	$6,047	$16,797
Agriculture operations loans - $100-250k	5	$694	$138,800
Agriculture operations loans - $250k-1MM	2	$621	$310,500