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, Somerset, Danville, Central City, and Richmond 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

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

542

Origination Dollar Volume (All Markets)

$71,440,000

Employee count

193

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	243	$25,535,000	$105,082	$1,567	4.48%
BOWLING GREEN, KY (FHA\|USDA\|VA)	48	$9,470,000	$197,292	$1,653	4.29%
Somerset, KY (FHA\|USDA\|VA)	35	$7,095,000	$202,714	$1,517	4.65%
Danville, KY (FHA\|USDA\|VA)	43	$6,215,000	$144,535	$2,335	4.67%
Central City, KY (FHA\|USDA\|VA)	77	$6,075,000	$78,896	$1,340	4.58%
Richmond-Berea, KY (FHA\|USDA\|VA)	29	$5,125,000	$176,724	$2,712	4.48%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	21	$3,385,000	$161,190	$2,183	4.52%
CLARKSVILLE, TN-KY (FHA\|USDA\|VA)	18	$2,010,000	$111,667	$1,702	4.51%
LOUISVILLE, KY (FHA\|USDA\|VA)	4	$1,350,000	$337,500	$2,345	4.22%
RALEIGH-CARY, NC (FHA\|USDA\|VA)	1	$735,000	$735,000	$0	4.75%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	2	$670,000	$335,000	$1,003	4.70%
Sevierville, TN (FHA\|USDA\|VA)	1	$565,000	$565,000	$0	5.00%
GREENSBORO-HIGH POINT, NC (FHA\|USDA\|VA)	2	$530,000	$265,000	$0	4.25%
AUBURN-OPELIKA, AL (FHA\|USDA\|VA)	2	$420,000	$210,000	$0	4.95%
Glasgow, KY (FHA\|USDA\|VA)	2	$410,000	$205,000	$2,004	4.03%
Frankfort, KY (FHA\|USDA\|VA)	2	$380,000	$190,000	$3,765	3.95%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	1	$325,000	$325,000	$0	4.95%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$255,000	$255,000	$5,546	4.10%
ELIZABETHTOWN-FORT KNOX, KY (FHA\|USDA\|VA)	1	$235,000	$235,000	$3,430	3.95%
OWENSBORO, KY (FHA\|USDA\|VA)	2	$180,000	$90,000	$1,069	4.01%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	1	$155,000	$155,000	$553	3.95%
Madisonville, KY (FHA\|USDA\|VA)	2	$110,000	$55,000	$1,402	4.26%
CHARLESTON, WV (FHA\|USDA\|VA)	1	$85,000	$85,000	$0	4.50%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$55,000	$55,000	$1,481	5.20%
EVANSVILLE, IN-KY (FHA\|USDA\|VA)	1	$35,000	$35,000	$0	5.00%
GAINESVILLE, FL (FHA\|USDA\|VA)	1	$35,000	$35,000	$1,336	4.10%

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

Their top states include:

Kentucky (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Florida (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	542	$71,440,000	$131,808	$1,708	4.50%

For 2020, First Southern National Bank's most frequently originated type of loan was Conventional, with 542 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	258	$40,620,000	$157,442	$2,295	4.50%
Refi	236	$28,060,000	$118,898	$1,275	4.47%
Home Improvement	30	$1,760,000	$58,667	$1,335	4.74%
Other	18	$1,000,000	$55,556	$1,382	4.54%

For 2020, First Southern National Bank's most frequently cited loan purpose was Home Purchase, with 258 originations. The 2nd most popular reason was Refi, with 236 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	216	$34,200,000	$158,333	$2,061	4.46%
15 Year	102	$9,900,000	$97,059	$1,343	4.59%
10 Year	79	$5,905,000	$74,747	$1,140	4.51%
20 Year	64	$8,610,000	$134,531	$1,624	4.37%
1 Year	33	$3,375,000	$102,273	$1,156	4.69%
5 Year	30	$3,350,000	$111,667	$864	4.69%
30 Year	9	$2,125,000	$236,111	$2,012	4.14%
3 Year	5	$2,855,000	$571,000	$0	4.49%
30+ year	4	$1,120,000	$280,000	$3,617	4.10%

For 2020, First Southern National Bank's most frequently cited loan duration was Other, with 216 originations. The 2nd most popular length was 15 Year, with 102 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	179	$14,765,000	$82,486
$1k-2k	111	$15,505,000	$139,685
$2k-3k	30	$6,940,000	$231,333
$3k-4k	15	$4,695,000	$313,000
$4k-5k	2	$790,000	$395,000
$5k+	1	$505,000	$505,000

First Southern National Bank's average total fees were $2,012, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 179 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	339	$47,395,000	$139,808
3-4%	113	$17,145,000	$151,726
5-6%	83	$6,485,000	$78,133
6-7%	5	$215,000	$43,000
7-8%	2	$200,000	$100,000

During 2020, First Southern National Bank's average interest rate for loans was 4.14%, while their most frequently originated rate bucket for loans was 4-5%, with 339 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	299	$15,845,000	$52,993	$1,179	4.62%
$100k-200k	148	$21,240,000	$143,514	$1,823	4.39%
$200k-400k	76	$20,830,000	$274,079	$2,968	4.24%
$400k-600k	13	$6,125,000	$471,154	$3,190	4.41%
$1MM+	3	$5,085,000	$1,695,000	$0	4.80%
$600k-1MM	3	$2,315,000	$771,667	$0	4.53%

2020 saw First Southern National Bank place emphasis on $100,000 or less loans with 299 originations, totaling $15,845,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	108	$7,750,000	$71,759	$1,335	4.61%
$50k-75k	101	$9,305,000	$92,129	$1,592	4.52%
$100k-150k	95	$14,995,000	$157,842	$2,100	4.40%
$75k-100k	88	$10,420,000	$118,409	$1,731	4.46%
$150k-250k	39	$7,375,000	$189,103	$2,474	4.44%
$250k+	13	$5,825,000	$448,077	$1,707	4.45%

First Southern National Bank lent most frequently to those with incomes in the $50k or less range, with 108 originations. The second most popular income band? $50k-75k, with 101 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	119	$12,765,000	$107,269	$1,616	4.45%
<20%	79	$6,115,000	$77,405	$1,176	4.48%
30-36%	69	$8,305,000	$120,362	$1,625	4.47%
50-60%	23	$4,335,000	$188,478	$2,101	4.36%
40%	14	$2,420,000	$172,857	$1,893	4.42%
37%	14	$2,300,000	$164,286	$2,254	4.28%
>60%	13	$2,345,000	$180,385	$1,350	4.92%
43%	13	$1,895,000	$145,769	$2,354	4.29%
45%	13	$1,725,000	$132,692	$1,887	4.49%
39%	12	$1,230,000	$102,500	$2,199	4.60%
36%	11	$915,000	$83,182	$1,556	4.57%
42%	10	$1,230,000	$123,000	$1,867	4.65%
38%	10	$1,050,000	$105,000	$1,121	4.31%
41%	10	$1,800,000	$180,000	$2,289	4.48%
47%	8	$1,450,000	$181,250	$2,947	4.57%
44%	6	$730,000	$121,667	$1,900	4.31%
49%	5	$845,000	$169,000	$2,650	4.31%
48%	2	$250,000	$125,000	$1,609	4.30%
46%	2	$560,000	$280,000	$6,528	4.48%

First Southern National Bank lent most frequently to those with DTI ratios of 20-30%, with 119 originations. The next most common DTI ratio? <20%, with 79 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	442	$56,010,000	$126,719	$1,700	4.48%
Not applicable	88	$14,440,000	$164,091	$3,091	4.58%
Black	11	$635,000	$57,727	$1,366	4.85%
Asian	1	$355,000	$355,000	$4,815	3.95%

Approval Rates

Total approvals of all applications
97.76%

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
95.20%

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
394.0	1	$25,000	$25,000
NA	541	$71,415,000	$132,006

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	21	$8,675,000	$413,095
Single Family (1-4 Units):Manufactured	39	$2,115,000	$54,231
Single Family (1-4 Units):Site-Built	482	$60,650,000	$125,830

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	75	$4,625,000	$61,667	$1,070	4.50%
40-60%	106	$11,590,000	$109,340	$1,648	4.53%
60-80%	192	$29,190,000	$152,031	$1,824	4.50%
80-100%	143	$24,245,000	$169,545	$1,957	4.42%
Over 100%	15	$1,265,000	$84,333	$1,769	4.74%
Under 20%	11	$525,000	$47,727	$1,091	4.90%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	FHA mortgage	Struggling to pay mortgage	1	14.3%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	2	28.6%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Trouble during payment process	2	28.6%
FIRST NATIONAL BANK OF OMAHA	Other type of mortgage	Trouble during payment process	1	14.3%

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	$69,905
First Southern National Bank	101 West Washington Street Princeton, KY 42445	Full Service B&M	$69,559
First Southern National Bank	1013 West Main Street Princeton, KY 42445	Full Service B&M	$11,440
First Southern National Bank	102 West Main Street Stanford, KY 40484	Full Service B&M	$44,844
First Southern National Bank	103 Vincent Drive Stanford, KY 40484	Full Service B&M	$115,862
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	$20,272
First Southern National Bank	130 West Broad Street Central City, KY 42330	Full Service B&M	$69,216
First Southern National Bank	15 North Highway 27 Somerset, KY 42501	Full Service B&M	$59,758
First Southern National Bank	204 Fairfield Drive Nicholasville, KY 40340	Full Service B&M	$39,944
First Southern National Bank	27 Public Square Lancaster, KY 40444	Full Service B&M	$66,260
First Southern National Bank	3060 Harrodsburg Road, Suite 205 Lexington, KY 40503	Full Service B&M	$53,769
First Southern National Bank	401 North Main Street Greenville, KY 42345	Full Service B&M	$33,053
First Southern National Bank	88 South Bethel Street Russellville, KY 42276	Full Service B&M	$170,952
First Southern National Bank	894 Richmond Plaza Richmond, KY 40475	Full Service B&M	$46,575

For 2020, First Southern National Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$37,372
Net interest income	$35,641
Total noninterest income	$6,211
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,994
Trading account gains and fees	$0
Additional Noninterest Income	$4,217
Pre-tax net operating income	$12,304
Securities gains (or losses, -)	$2,170
Income before extraordinary items	$11,465
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$11,465
Minority interest net income	$0
Net income	$11,465
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$9,750

First Southern National Bank's gross interest income from loans was $37,372,000.
First Southern National Bank's net interest income from loans was $35,641,000.
First Southern National Bank's fee based income from loans was $1,994,000.
First Southern National Bank's net income from loans was $11,465,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,731
Provision for credit losses	$1,877
Total noninterest expense	$27,671
Salaries and employee benefits	$13,943
Premises and equipment expense	$3,089
Additional noninterest expense	$10,639
Applicable income taxes	$3,009
Net charge-offs	$309
Cash dividends	$6,000

First Southern National Bank's interest expense for loans was $1,731,000.
First Southern National Bank's payroll and benefits expense were $13,943,000.
First Southern National Bank's property, plant and equipment expenses $3,089,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	4.0%
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	$911,512
Deposits held in domestic offices	$911,512
Deposits by Individuals, partnerships, and corporations	$829,130
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$82,379
Deposits by Commercial banks and other depository institutions in U.S.	$3
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$573,434
Demand deposits	$573,434
Nontransaction accounts	$338,078
Money market deposit accounts (MMDAs)	$43,780
Other savings deposits (excluding MMDAs)	$166,939
Total time deposits	$127,359
Total time and savings deposits	$338,078
Noninterest-bearing deposits	$217,600
Interest-bearing deposits	$693,912
Retail deposits	$890,306
IRAs and Keogh plan accounts	$30,492
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,025,271
Cash & Balances due from depository institutions	$196,548
Interest-bearing balances	$175,656
Total securities	$142,092
Federal funds sold & reverse repurchase	$115
Net loans and leases	$636,221
Loan and leases loss allowance	$9,992
Trading account assets	$0
Bank premises and fixed assets	$21,863
Other real estate owned	$738
Goodwill and other intangibles	$15,737
All other assets	$11,957

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,025,271
Total Liabilities	$918,991
Total deposits	$911,512
Interest-bearing deposits	$693,912
Deposits held in domestic offices	$911,512
% insured (estimated)	$79
Federal funds purchased and repurchase agreements	$2,322
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$5,157

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$636,221
Loan and leases loss allowance	$9,992
Total loans and leases (domestic)	$646,213
All real estate loans	$544,715
Real estate loans in domestic offices	$544,715
Construction and development loans	$28,049
Residential 1-4 family construction	$12,062
Other construction, all land development and other land	$15,987
Loans secured by nonfarm nonresidential properties	$199,337
Nonfarm nonresidential secured by owner-occupied properties	$69,287
Commercial real estate & other non-farm, non-residential	$130,050
Multifamily residential real estate	$27,798
1-4 family residential loans	$242,406
Farmland loans	$47,125
Loans held in foreign offices	$0
Farm loans	$7,097
Commercial and industrial loans	$70,898
To non-U.S. addressees	$0
Loans to individuals	$19,853
Credit card loans	$0
Related Plans	$1,117
Consumer Auto Loans	$8,543
Other loans to individuals	$10,193
All other loans & leases	$5,452
Loans to foreign governments and official institutions	$0
Other loans	$355
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	$792
Non 1-4 family restructured loans & leases	$234
Total loans and leases (foreign)	$0

First Southern National Bank had $636,221,000 of loans outstanding in 2020. $544,715,000 of loans were in real estate loans. $28,049,000 of loans were in development loans. $27,798,000 of loans were in multifamily mortgage loans. $242,406,000 of loans were in 1-4 family mortgage loans. $7,097,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,543,000 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	388	$62,414	$160,861
Nonfarm, nonresidential loans - <$100k	139	$5,121	$36,842
Nonfarm, nonresidential loans - $100-250k	135	$17,108	$126,726
Nonfarm, nonresidential loans - $250k-1MM	114	$40,185	$352,500
Commercial & Industrial, US addressed loans - <$1MM	1,326	$53,218	$40,134
Commercial & Industrial, US addressed loans - <$100k	1,169	$23,378	$19,998
Commercial & Industrial, US addressed loans - $100-250k	105	$11,066	$105,390
Commercial & Industrial, US addressed loans - $250k-1MM	52	$18,774	$361,038
Farmland loans - <$1MM	327	$32,773	$100,223
Farmland loans - <$100k	164	$6,277	$38,274
Farmland loans - $100-250k	111	$13,618	$122,685
Farmland loans - $250k-1MM	52	$12,878	$247,654
Agriculture operations loans - <$1MM	343	$6,919	$20,172
Agriculture operations loans - <$100k	329	$5,663	$17,213
Agriculture operations loans - $100-250k	13	$1,066	$82,000
Agriculture operations loans - $250k-1MM	1	$190	$190,000