United Southern Bank Mortgage Rates, Fees & Info

Umatilla, FL

LEI: 549300CN9XK83EUACJ34

Tax ID: 59-0489540

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    United Southern Bank is a smaller bank specializing in Home Purchase loans. United Southern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Orlando, Ocala, Deltona, Tampa, and The Villages among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    United Southern Bank 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.

    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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    Originations

    130

    Origination Dollar Volume (All Markets)

    $23,350,000

    Employee count

    153

    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
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 108 $19,100,000 $176,852 $0 0.00%
    OCALA, FL (FHA|USDA|VA) 8 $1,540,000 $192,500 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 8 $1,180,000 $147,500 $0 0.00%
    Outside of Metro Areas 1 $775,000 $775,000 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    WARNER ROBINS, GA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    United Southern Bank's top markets include Orlando, Ocala, Deltona, Tampa, and The Villages among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $23,350,000 $179,615 $0 0.00%

    For 2019, United Southern Bank's most frequently originated type of loan was Conventional, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 92 $17,570,000 $190,978 $0 0.00%
    Refi 24 $4,640,000 $193,333 $0 0.00%
    Other 8 $590,000 $73,750 $0 0.00%
    Home Improvement 6 $550,000 $91,667 $0 0.00%

    For 2019, United Southern Bank's most frequently cited loan purpose was Home Purchase, with 92 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 130 $23,350,000 $179,615 $0 0.00%

    For 2019, United Southern Bank's most frequently cited loan duration was Other, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 56 $3,140,000 $56,071 $0 0.00%
    $100k-200k 37 $4,845,000 $130,946 $0 0.00%
    $200k-400k 26 $7,650,000 $294,231 $0 0.00%
    $600k-1MM 6 $4,620,000 $770,000 $0 0.00%
    $400k-600k 4 $1,890,000 $472,500 $0 0.00%
    $1MM+ 1 $1,205,000 $1,205,000 $0 0.00%

    2019 saw United Southern Bank place emphasis on $100,000 or less loans with 56 originations, totaling $3,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 20 $1,500,000 $75,000 $0 0.00%
    $100k-150k 18 $2,040,000 $113,333 $0 0.00%
    $150k-250k 18 $5,130,000 $285,000 $0 0.00%
    $75k-100k 17 $3,305,000 $194,412 $0 0.00%
    $50k or less 15 $875,000 $58,333 $0 0.00%
    $250k+ 10 $4,030,000 $403,000 $0 0.00%

    United Southern Bank lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $100k-150k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 130 $23,350,000 $179,615 $0 0.00%

    United Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 89 $14,775,000 $166,011 $0 0.00%
    Not applicable 31 $6,435,000 $207,581 $0 0.00%
    Not provided 4 $1,400,000 $350,000 $0 0.00%
    Black 6 $740,000 $123,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.23%

    United Southern Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.54%

    United Southern Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 130 $23,350,000 $179,615

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $805,000 $805,000
    Multifamily:Site-Built 3 $1,655,000 $551,667
    Single Family (1-4 Units):Manufactured 28 $1,670,000 $59,643
    Single Family (1-4 Units):Site-Built 98 $19,220,000 $196,122

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    United Southern Bank 10021 County Road 44-West Leesburg, FL 34788 Full Service B&M $18,895
    United Southern Bank 1303 North New Hampshire Avenue Tavares, FL 32778 Full Service B&M $34,772
    United Southern Bank 13609 Us Hwy 441 Lady Lake, FL 32159 Full Service B&M $22,970
    United Southern Bank 1510 East Service Road 50 Clermont, FL 34711 Full Service B&M $18,642
    United Southern Bank 19010 Us Hwy 441 Mount Dora, FL 32757 Full Service B&M $38,814
    United Southern Bank 224 South Us 27 Lady Lake, FL 32159 Full Service B&M $22,363
    United Southern Bank 24510 State Road 40 Astor, FL 32102 Full Service B&M $26,302
    United Southern Bank 2701 South Bay Street Eustis, FL 32726 Full Service B&M $76,530
    United Southern Bank 27524 U.S. Highway 27 Leesburg, FL 34748 Full Service B&M $74,951
    United Southern Bank 331 Raintree Drive Altoona, FL 32702 Limited, Mobile/Seasonal Office $5,637
    United Southern Bank 515 W. Main St. Leesburg, FL 34748 Full Service B&M $49,551
    United Southern Bank 750 North Central Avenue Umatilla, FL 32784 Full Service B&M $79,369
    United Southern Bank 900 Lake Port Square Boulevard Leesburg, FL 34748 Limited, Mobile/Seasonal Office $7,267

    For 2019, United Southern Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,159
    Net interest income $19,926
    Total noninterest income $4,167
    Gross Fiduciary activities income $1,050
    Service charges on deposit accounts $764
    Trading account gains and fees $0
    Additional Noninterest Income $2,353
    Pre-tax net operating income $7,380
    Securities gains (or losses, -) $3
    Income before extraordinary items $5,623
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,623
    Minority interest net income $0
    Net income $5,623
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,620

    United Southern Bank's gross interest income from loans was $21,159,000.
    United Southern Bank's net interest income from loans was $19,926,000.
    United Southern Bank's fee based income from loans was $764,000.
    United Southern Bank's net income from loans was $5,623,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,233
    Provision for credit losses $0
    Total noninterest expense $16,713
    Salaries and employee benefits $9,651
    Premises and equipment expense $1,898
    Additional noninterest expense $5,164
    Applicable income taxes $1,760
    Net charge-offs $-310
    Cash dividends $1,719

    United Southern Bank's interest expense for loans was $1,233,000.
    United Southern Bank's payroll and benefits expense were $9,651,000.
    United Southern Bank's property, plant and equipment expenses $1,898,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 2.0%
    All other family 1.0%
    Commercial & industrial loans 3.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $489,537
    Deposits held in domestic offices $489,537
    Deposits by Individuals, partnerships, and corporations $467,602
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $21,690
    Deposits by Commercial banks and other depository institutions in U.S. $245
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $163,373
    Demand deposits $100,216
    Nontransaction accounts $326,164
    Money market deposit accounts (MMDAs) $123,547
    Other savings deposits (excluding MMDAs) $177,793
    Total time deposits $24,825
    Total time and savings deposits $389,321
    Noninterest-bearing deposits $163,373
    Interest-bearing deposits $326,164
    Retail deposits $487,189
    IRAs and Keogh plan accounts $7,700
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $549,994
    Cash & Balances due from depository institutions $45,122
    Interest-bearing balances $36,975
    Total securities $166,806
    Federal funds sold & reverse repurchase $0
    Net loans and leases $309,328
    Loan and leases loss allowance $6,878
    Trading account assets $0
    Bank premises and fixed assets $10,294
    Other real estate owned $69
    Goodwill and other intangibles $0
    All other assets $18,375

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $549,994
    Total Liabilities $495,374
    Total deposits $489,537
    Interest-bearing deposits $326,164
    Deposits held in domestic offices $489,537
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,837

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $309,328
    Loan and leases loss allowance $6,878
    Total loans and leases (domestic) $316,206
    All real estate loans $292,727
    Real estate loans in domestic offices $292,727
    Construction and development loans $43,140
    Residential 1-4 family construction $6,130
    Other construction, all land development and other land $37,010
    Loans secured by nonfarm nonresidential properties $142,167
    Nonfarm nonresidential secured by owner-occupied properties $20,412
    Commercial real estate & other non-farm, non-residential $121,755
    Multifamily residential real estate $10,050
    1-4 family residential loans $93,497
    Farmland loans $3,873
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $13,781
    To non-U.S. addressees $0
    Loans to individuals $6,679
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,139
    Other loans to individuals $5,540
    All other loans & leases $3,767
    Loans to foreign governments and official institutions $0
    Other loans $3,767
    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 $1,577
    Non 1-4 family restructured loans & leases $507
    Total loans and leases (foreign) $0

    United Southern Bank had $309,328,000 of loans outstanding in 2019. $292,727,000 of loans were in real estate loans. $43,140,000 of loans were in development loans. $10,050,000 of loans were in multifamily mortgage loans. $93,497,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,139,000 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 374 $82,010 $219,278
    Nonfarm, nonresidential loans - <$100k 80 $3,754 $46,925
    Nonfarm, nonresidential loans - $100-250k 132 $16,585 $125,644
    Nonfarm, nonresidential loans - $250k-1MM 162 $61,671 $380,685
    Commercial & Industrial, US addressed loans - <$1MM 266 $12,640 $47,519
    Commercial & Industrial, US addressed loans - <$100k 203 $4,010 $19,754
    Commercial & Industrial, US addressed loans - $100-250k 46 $4,288 $93,217
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $4,342 $255,412
    Farmland loans - <$1MM 9 $1,435 $159,444
    Farmland loans - <$100k 4 $191 $47,750
    Farmland loans - $100-250k 3 $304 $101,333
    Farmland loans - $250k-1MM 2 $940 $470,000