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, Richmond, Lexington, Central City, and Danville among others. We have data for 26 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 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.

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%	4/18/24
30 Year Conventional Purchase	6.60%	4/18/24
30 Year Conventional Refi	6.87%	4/18/24
15 Year Conventional Purchase	6.35%	4/18/24
15 Year Conventional Refi	6.47%	4/18/24
15 Year Cash-out Refi	6.47%	4/18/24
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

527

Origination Dollar Volume (All Markets)

$58,565,000

Employee count

212

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	255	$23,155,000	$90,804	$1,434	5.29%
BOWLING GREEN, KY (FHA\|USDA\|VA)	50	$6,930,000	$138,600	$1,460	5.14%
Richmond-Berea, KY (FHA\|USDA\|VA)	34	$5,860,000	$172,353	$2,317	5.33%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	28	$5,100,000	$182,143	$2,539	5.15%
Central City, KY (FHA\|USDA\|VA)	61	$4,865,000	$79,754	$1,325	5.45%
Danville, KY (FHA\|USDA\|VA)	39	$3,375,000	$86,538	$1,387	5.36%
Somerset, KY (FHA\|USDA\|VA)	26	$2,550,000	$98,077	$816	5.15%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	1	$2,325,000	$2,325,000	$0	5.50%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	4	$810,000	$202,500	$3,366	5.26%
CLARKSVILLE, TN-KY (FHA\|USDA\|VA)	4	$760,000	$190,000	$1,467	5.23%
Glasgow, KY (FHA\|USDA\|VA)	1	$345,000	$345,000	$2,203	5.33%
OWENSBORO, KY (FHA\|USDA\|VA)	6	$280,000	$46,667	$1,086	6.23%
AUBURN-OPELIKA, AL (FHA\|USDA\|VA)	3	$275,000	$91,667	$0	5.42%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$225,000	$225,000	$0	5.25%
PANAMA CITY, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$0	4.89%
LOUISVILLE, KY (FHA\|USDA\|VA)	2	$210,000	$105,000	$2,343	4.57%
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	1	$195,000	$195,000	$3,581	4.78%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	5.75%
Sevierville, TN (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	4.75%
Murray, KY (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	5.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	1	$155,000	$155,000	$0	5.27%
Frankfort, KY (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	5.51%
Madisonville, KY (FHA\|USDA\|VA)	2	$110,000	$55,000	$964	5.70%
ELIZABETHTOWN-FORT KNOX, KY (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	4.82%
EVANSVILLE, IN-KY (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	6.25%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	5.95%

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

Their top states include:

Kentucky (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	527	$58,565,000	$111,129	$1,484	5.30%

For 2019, First Southern National Bank's most frequently originated type of loan was Conventional, with 527 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	270	$34,770,000	$128,778	$2,002	5.30%
Refi	202	$18,370,000	$90,941	$1,044	5.27%
Home Improvement	35	$4,085,000	$116,714	$1,185	5.50%
Other	20	$1,340,000	$67,000	$1,240	5.17%

For 2019, First Southern National Bank's most frequently cited loan purpose was Home Purchase, with 270 originations. The 2nd most popular reason was Refi, with 202 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	240	$29,720,000	$123,833	$1,696	5.37%
10 Year	80	$5,010,000	$62,625	$1,130	5.27%
15 Year	74	$6,550,000	$88,514	$1,227	5.31%
20 Year	56	$5,860,000	$104,643	$1,340	5.21%
1 Year	41	$4,855,000	$118,415	$1,438	5.08%
5 Year	21	$2,145,000	$102,143	$1,101	5.39%
3 Year	6	$2,780,000	$463,333	$2,455	5.45%
30 Year	5	$745,000	$149,000	$1,912	4.78%
30+ year	4	$900,000	$225,000	$2,691	4.92%

For 2019, First Southern National Bank's most frequently cited loan duration was Other, with 240 originations. The 2nd most popular length was 10 Year, with 80 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	205	$15,595,000	$76,073
$1k-2k	78	$10,490,000	$134,487
$2k-3k	20	$4,260,000	$213,000
$3k-4k	9	$3,025,000	$336,111
$4k-5k	2	$840,000	$420,000
$5k+	1	$925,000	$925,000

First Southern National Bank's average total fees were $1,912, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 205 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	304	$33,980,000	$111,776
4-5%	167	$21,085,000	$126,257
6-7%	44	$2,620,000	$59,545
7-8%	8	$270,000	$33,750
2.5-3%	2	$310,000	$155,000
3-4%	2	$300,000	$150,000

During 2019, First Southern National Bank's average interest rate for loans was 4.78%, while their most frequently originated rate bucket for loans was 5-6%, with 304 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	313	$16,785,000	$53,626	$1,082	5.38%
$100k-200k	144	$19,690,000	$136,736	$1,646	5.22%
$200k-400k	63	$16,325,000	$259,127	$2,460	5.10%
$400k-600k	4	$1,900,000	$475,000	$4,306	4.93%
$600k-1MM	2	$1,540,000	$770,000	$10,806	4.98%
$1MM+	1	$2,325,000	$2,325,000	$0	5.50%

2019 saw First Southern National Bank place emphasis on $100,000 or less loans with 313 originations, totaling $16,785,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	133	$8,875,000	$66,729	$1,168	5.31%
$50k-75k	117	$10,915,000	$93,291	$1,414	5.38%
$100k-150k	79	$9,865,000	$124,873	$1,697	5.27%
$75k-100k	72	$7,690,000	$106,806	$1,676	5.29%
$150k-250k	35	$5,815,000	$166,143	$2,204	5.21%
$250k+	10	$2,910,000	$291,000	$3,705	5.01%

First Southern National Bank lent most frequently to those with incomes in the $50k or less range, with 133 originations. The second most popular income band? $50k-75k, with 117 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	107	$9,435,000	$88,178	$1,395	5.27%
30-36%	89	$9,815,000	$110,281	$1,614	5.24%
<20%	67	$5,045,000	$75,299	$1,028	5.22%
50-60%	31	$4,015,000	$129,516	$1,903	5.37%
>60%	24	$3,330,000	$138,750	$1,788	5.24%
37%	15	$1,345,000	$89,667	$1,487	5.38%
42%	12	$1,730,000	$144,167	$2,106	5.53%
36%	12	$1,000,000	$83,333	$1,099	5.21%
38%	11	$1,435,000	$130,455	$1,659	5.26%
39%	11	$1,255,000	$114,091	$1,544	5.26%
45%	9	$925,000	$102,778	$1,658	5.31%
40%	9	$1,865,000	$207,222	$1,855	4.94%
43%	8	$1,370,000	$171,250	$1,683	4.97%
41%	8	$920,000	$115,000	$1,032	5.19%
48%	6	$570,000	$95,000	$1,206	5.37%
46%	5	$475,000	$95,000	$1,868	5.21%
47%	4	$440,000	$110,000	$2,788	5.60%
44%	3	$135,000	$45,000	$1,259	6.08%
49%	1	$155,000	$155,000	$1,640	5.12%

First Southern National Bank lent most frequently to those with DTI ratios of 20-30%, with 107 originations. The next most common DTI ratio? 30-36%, with 89 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	454	$46,630,000	$102,709	$1,486	5.28%
Not applicable	65	$10,845,000	$166,846	$0	5.35%
Black	6	$590,000	$98,333	$1,378	5.86%
Asian	2	$500,000	$250,000	$815	5.63%

Approval Rates

Total approvals of all applications
97.02%

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
94.88%

First Southern National Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
303.0	1	$15,000	$15,000
439.0	1	$25,000	$25,000
NA	525	$58,525,000	$111,476

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$105,000	$105,000
Multifamily:Site-Built	14	$5,300,000	$378,571
Single Family (1-4 Units):Manufactured	39	$1,805,000	$46,282
Single Family (1-4 Units):Site-Built	473	$51,355,000	$108,573

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	63	$3,255,000	$51,667	$1,012	5.40%
40-60%	113	$13,255,000	$117,301	$1,372	5.28%
60-80%	186	$24,900,000	$133,871	$1,715	5.28%
80-100%	138	$15,710,000	$113,841	$1,650	5.28%
Over 100%	7	$845,000	$120,714	$1,684	5.43%
Under 20%	20	$600,000	$30,000	$687	5.33%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Trouble during payment process	3	50.0%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Closing on a mortgage	2	33.3%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	16.7%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Southern National Bank	100 North Main Street Monticello, KY 42633	Full Service B&M	$58,071
First Southern National Bank	101 West Washington Street Princeton, KY 42445	Full Service B&M	$70,624
First Southern National Bank	1013 West Main Street Princeton, KY 42445	Full Service B&M	$11,173
First Southern National Bank	102 West Main Street Stanford, KY 40484	Full Service B&M	$62,116
First Southern National Bank	103 Vincent Drive Stanford, KY 40484	Full Service B&M	$104,956
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	$14,564
First Southern National Bank	130 West Broad Street Central City, KY 42330	Full Service B&M	$63,195
First Southern National Bank	15 North Highway 27 Somerset, KY 42501	Full Service B&M	$46,108
First Southern National Bank	204 Fairfield Drive Nicholasville, KY 40340	Full Service B&M	$33,568
First Southern National Bank	27 Public Square Lancaster, KY 40444	Full Service B&M	$54,775
First Southern National Bank	3060 Harrodsburg Road, Suite 205 Lexington, KY 40503	Full Service B&M	$40,229
First Southern National Bank	401 North Main Street Greenville, KY 42345	Full Service B&M	$25,111
First Southern National Bank	88 South Bethel Street Russellville, KY 42276	Full Service B&M	$146,719
First Southern National Bank	894 Richmond Plaza Richmond, KY 40475	Full Service B&M	$34,986

For 2019, First Southern National Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$38,835
Net interest income	$37,029
Total noninterest income	$6,367
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,697
Trading account gains and fees	$0
Additional Noninterest Income	$3,670
Pre-tax net operating income	$13,827
Securities gains (or losses, -)	$3
Income before extraordinary items	$10,930
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$10,930
Minority interest net income	$0
Net income	$10,930
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$10,927

First Southern National Bank's gross interest income from loans was $38,835,000.
First Southern National Bank's net interest income from loans was $37,029,000.
First Southern National Bank's fee based income from loans was $2,697,000.
First Southern National Bank's net income from loans was $10,930,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,806
Provision for credit losses	$786
Total noninterest expense	$28,783
Salaries and employee benefits	$14,671
Premises and equipment expense	$3,186
Additional noninterest expense	$10,926
Applicable income taxes	$2,900
Net charge-offs	$272
Cash dividends	$6,000

First Southern National Bank's interest expense for loans was $1,806,000.
First Southern National Bank's payroll and benefits expense were $14,671,000.
First Southern National Bank's property, plant and equipment expenses $3,186,000.

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	$789,753
Deposits held in domestic offices	$789,753
Deposits by Individuals, partnerships, and corporations	$725,378
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$64,375
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	$90,890
Demand deposits	$90,890
Nontransaction accounts	$698,863
Money market deposit accounts (MMDAs)	$43,150
Other savings deposits (excluding MMDAs)	$514,724
Total time deposits	$140,989
Total time and savings deposits	$698,863
Noninterest-bearing deposits	$165,822
Interest-bearing deposits	$623,931
Retail deposits	$762,679
IRAs and Keogh plan accounts	$30,466
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$895,737
Cash & Balances due from depository institutions	$85,300
Interest-bearing balances	$61,469
Total securities	$135,998
Federal funds sold & reverse repurchase	$202
Net loans and leases	$618,800
Loan and leases loss allowance	$8,424
Trading account assets	$0
Bank premises and fixed assets	$24,469
Other real estate owned	$739
Goodwill and other intangibles	$15,752
All other assets	$14,477

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$895,737
Total Liabilities	$796,904
Total deposits	$789,753
Interest-bearing deposits	$623,931
Deposits held in domestic offices	$789,753
% insured (estimated)	$79
Federal funds purchased and repurchase agreements	$2,056
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$5,095

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$618,800
Loan and leases loss allowance	$8,424
Total loans and leases (domestic)	$627,224
All real estate loans	$538,321
Real estate loans in domestic offices	$538,321
Construction and development loans	$23,847
Residential 1-4 family construction	$7,954
Other construction, all land development and other land	$15,893
Loans secured by nonfarm nonresidential properties	$186,767
Nonfarm nonresidential secured by owner-occupied properties	$62,442
Commercial real estate & other non-farm, non-residential	$124,325
Multifamily residential real estate	$22,585
1-4 family residential loans	$256,284
Farmland loans	$48,838
Loans held in foreign offices	$0
Farm loans	$7,865
Commercial and industrial loans	$55,628
To non-U.S. addressees	$0
Loans to individuals	$20,064
Credit card loans	$0
Related Plans	$1,395
Consumer Auto Loans	$8,047
Other loans to individuals	$10,622
All other loans & leases	$6,960
Loans to foreign governments and official institutions	$0
Other loans	$805
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	$5,160
Non 1-4 family restructured loans & leases	$4,578
Total loans and leases (foreign)	$0

First Southern National Bank had $618,800,000 of loans outstanding in 2019. $538,321,000 of loans were in real estate loans. $23,847,000 of loans were in development loans. $22,585,000 of loans were in multifamily mortgage loans. $256,284,000 of loans were in 1-4 family mortgage loans. $7,865,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,047,000 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	396	$66,280	$167,374
Nonfarm, nonresidential loans - <$100k	148	$5,664	$38,270
Nonfarm, nonresidential loans - $100-250k	123	$14,589	$118,610
Nonfarm, nonresidential loans - $250k-1MM	125	$46,027	$368,216
Commercial & Industrial, US addressed loans - <$1MM	1,074	$34,584	$32,201
Commercial & Industrial, US addressed loans - <$100k	967	$17,117	$17,701
Commercial & Industrial, US addressed loans - $100-250k	68	$6,853	$100,779
Commercial & Industrial, US addressed loans - $250k-1MM	39	$10,614	$272,154
Farmland loans - <$1MM	336	$31,269	$93,063
Farmland loans - <$100k	173	$6,283	$36,318
Farmland loans - $100-250k	118	$14,225	$120,551
Farmland loans - $250k-1MM	45	$10,761	$239,133
Agriculture operations loans - <$1MM	354	$7,466	$21,090
Agriculture operations loans - <$100k	344	$6,073	$17,654
Agriculture operations loans - $100-250k	8	$766	$95,750
Agriculture operations loans - $250k-1MM	2	$627	$313,500