United Southern Bank Mortgage Rates, Fees & Info

Umatilla, FL

LEI: 549300CN9XK83EUACJ34

Tax ID: 59-0489540

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

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, Deltona, The Villages, Homosassa Springs, and Ocala among others. We have data for 9 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.

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Originations

162

Origination Dollar Volume (All Markets)

$29,990,000

Employee count

145

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)	134	$22,840,000	$170,448	$0	0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	7	$2,745,000	$392,143	$0	0.00%
THE VILLAGES, FL (FHA\|USDA\|VA)	7	$1,295,000	$185,000	$0	0.00%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	2	$1,240,000	$620,000	$0	0.00%
OCALA, FL (FHA\|USDA\|VA)	7	$765,000	$109,286	$0	0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	1	$455,000	$455,000	$0	0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	2	$420,000	$210,000	$0	0.00%
Outside of Metro Areas	1	$155,000	$155,000	$0	0.00%
TALLAHASSEE, FL (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	0.00%

United Southern Bank's top markets include Orlando, Deltona, The Villages, Homosassa Springs, and Ocala among others.

Their top states include:

Florida (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	162	$29,990,000	$185,123	$0	0.00%

For 2020, United Southern Bank's most frequently originated type of loan was Conventional, with 162 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	125	$23,665,000	$189,320	$0	0.00%
Refi	28	$5,110,000	$182,500	$0	0.00%
Home Improvement	5	$555,000	$111,000	$0	0.00%
Other	4	$660,000	$165,000	$0	0.00%

For 2020, United Southern Bank's most frequently cited loan purpose was Home Purchase, with 125 originations. The 2nd most popular reason was Refi, with 28 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	162	$29,990,000	$185,123	$0	0.00%

For 2020, United Southern Bank's most frequently cited loan duration was Other, with 162 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	66	$3,920,000	$59,394	$0	0.00%
$100k-200k	45	$6,405,000	$142,333	$0	0.00%
$200k-400k	34	$9,430,000	$277,353	$0	0.00%
$400k-600k	11	$5,145,000	$467,727	$0	0.00%
$600k-1MM	4	$2,880,000	$720,000	$0	0.00%
$1MM+	2	$2,210,000	$1,105,000	$0	0.00%

2020 saw United Southern Bank place emphasis on $100,000 or less loans with 66 originations, totaling $3,920,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	24	$3,670,000	$152,917	$0	0.00%
$50k or less	24	$2,210,000	$92,083	$0	0.00%
$50k-75k	23	$3,075,000	$133,696	$0	0.00%
$75k-100k	21	$2,925,000	$139,286	$0	0.00%
$150k-250k	20	$5,740,000	$287,000	$0	0.00%
$250k+	9	$2,835,000	$315,000	$0	0.00%

United Southern Bank lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $50k or less, with 24 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	162	$29,990,000	$185,123	$0	0.00%

United Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 162 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	111	$18,515,000	$166,802	$0	0.00%
Not applicable	40	$9,490,000	$237,250	$0	0.00%
Not provided	7	$1,435,000	$205,000	$0	0.00%
Black	3	$305,000	$101,667	$0	0.00%
Asian	1	$245,000	$245,000	$0	0.00%

Approval Rates

Total approvals of all applications
91.04%

United Southern Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.86%

United Southern Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	162	$29,990,000	$185,123

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	3	$1,775,000	$591,667
Multifamily:Site-Built	4	$2,350,000	$587,500
Single Family (1-4 Units):Manufactured	38	$2,530,000	$66,579
Single Family (1-4 Units):Site-Built	117	$23,335,000	$199,444

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
UNITED COMMUNITY BANK	Home equity loan or line of credit (HELOC)	Incorrect information on your report	1	16.7%
UNITED COMMUNITY BANK	Conventional home mortgage	Trouble during payment process	3	50.0%
UNITED COMMUNITY BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	16.7%
UNITED COMMUNITY BANK	Conventional home mortgage	Closing on a mortgage	1	16.7%

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	$22,005
United Southern Bank	1017 Us Highway 301 Wildwood, FL 34785	Full Service B&M	$3,896
United Southern Bank	1303 North New Hampshire Avenue Tavares, FL 32778	Full Service B&M	$40,957
United Southern Bank	13609 Us Hwy 441 Lady Lake, FL 32159	Full Service B&M	$22,088
United Southern Bank	1510 East Service Road 50 Clermont, FL 34711	Full Service B&M	$25,743
United Southern Bank	19010 Us Hwy 441 Mount Dora, FL 32757	Full Service B&M	$41,137
United Southern Bank	224 South Us 27 Lady Lake, FL 32159	Full Service B&M	$28,469
United Southern Bank	24510 State Road 40 Astor, FL 32102	Full Service B&M	$29,565
United Southern Bank	2701 South Bay Street Eustis, FL 32726	Full Service B&M	$91,644
United Southern Bank	27524 U.S. Highway 27 Leesburg, FL 34748	Full Service B&M	$83,425
United Southern Bank	331 Raintree Drive Altoona, FL 32702	Limited, Mobile/Seasonal Office	$5,674
United Southern Bank	445 Waterman Village Mount Dora, FL 32757	Limited, Mobile/Seasonal Office	$67
United Southern Bank	515 W. Main St. Leesburg, FL 34748	Full Service B&M	$62,735
United Southern Bank	750 North Central Avenue Umatilla, FL 32784	Full Service B&M	$96,041
United Southern Bank	900 Lake Port Square Boulevard Leesburg, FL 34748	Limited, Mobile/Seasonal Office	$6,412

For 2020, United Southern Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$22,218
Net interest income	$21,503
Total noninterest income	$4,321
Gross Fiduciary activities income	$1,121
Service charges on deposit accounts	$571
Trading account gains and fees	$0
Additional Noninterest Income	$2,629
Pre-tax net operating income	$6,811
Securities gains (or losses, -)	$328
Income before extraordinary items	$5,632
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,632
Minority interest net income	$0
Net income	$5,632
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$5,372

United Southern Bank's gross interest income from loans was $22,218,000.
United Southern Bank's net interest income from loans was $21,503,000.
United Southern Bank's fee based income from loans was $571,000.
United Southern Bank's net income from loans was $5,632,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$715
Provision for credit losses	$2,218
Total noninterest expense	$16,795
Salaries and employee benefits	$9,837
Premises and equipment expense	$2,001
Additional noninterest expense	$4,957
Applicable income taxes	$1,507
Net charge-offs	$2
Cash dividends	$1,931

United Southern Bank's interest expense for loans was $715,000.
United Southern Bank's payroll and benefits expense were $9,837,000.
United Southern Bank's property, plant and equipment expenses $2,001,000.

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	3.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	1.0%
HELOC loans	0.0%
All other family	1.0%
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	$612,974
Deposits held in domestic offices	$612,974
Deposits by Individuals, partnerships, and corporations	$581,266
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$31,708
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	$207,219
Demand deposits	$180,142
Nontransaction accounts	$405,755
Money market deposit accounts (MMDAs)	$147,850
Other savings deposits (excluding MMDAs)	$229,297
Total time deposits	$28,607
Total time and savings deposits	$432,832
Noninterest-bearing deposits	$207,219
Interest-bearing deposits	$405,755
Retail deposits	$606,591
IRAs and Keogh plan accounts	$7,537
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$680,695
Cash & Balances due from depository institutions	$93,405
Interest-bearing balances	$84,088
Total securities	$206,766
Federal funds sold & reverse repurchase	$0
Net loans and leases	$348,976
Loan and leases loss allowance	$9,094
Trading account assets	$0
Bank premises and fixed assets	$10,603
Other real estate owned	$69
Goodwill and other intangibles	$0
All other assets	$20,876

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$680,695
Total Liabilities	$618,695
Total deposits	$612,974
Interest-bearing deposits	$405,755
Deposits held in domestic offices	$612,974
% insured (estimated)	$80
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$5,721

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$348,976
Loan and leases loss allowance	$9,094
Total loans and leases (domestic)	$358,070
All real estate loans	$299,213
Real estate loans in domestic offices	$299,213
Construction and development loans	$37,210
Residential 1-4 family construction	$7,663
Other construction, all land development and other land	$29,547
Loans secured by nonfarm nonresidential properties	$153,762
Nonfarm nonresidential secured by owner-occupied properties	$20,812
Commercial real estate & other non-farm, non-residential	$132,950
Multifamily residential real estate	$7,501
1-4 family residential loans	$97,137
Farmland loans	$3,603
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$50,913
To non-U.S. addressees	$0
Loans to individuals	$7,448
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$1,033
Other loans to individuals	$6,415
All other loans & leases	$2,765
Loans to foreign governments and official institutions	$0
Other loans	$2,765
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	$1,162
Non 1-4 family restructured loans & leases	$395
Total loans and leases (foreign)	$0

United Southern Bank had $348,976,000 of loans outstanding in 2020. $299,213,000 of loans were in real estate loans. $37,210,000 of loans were in development loans. $7,501,000 of loans were in multifamily mortgage loans. $97,137,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,033,000 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	397	$89,265	$224,849
Nonfarm, nonresidential loans - <$100k	71	$2,940	$41,408
Nonfarm, nonresidential loans - $100-250k	144	$16,904	$117,389
Nonfarm, nonresidential loans - $250k-1MM	182	$69,421	$381,434
Commercial & Industrial, US addressed loans - <$1MM	948	$45,023	$47,493
Commercial & Industrial, US addressed loans - <$100k	802	$18,683	$23,296
Commercial & Industrial, US addressed loans - $100-250k	114	$14,347	$125,851
Commercial & Industrial, US addressed loans - $250k-1MM	32	$11,993	$374,781
Farmland loans - <$1MM	8	$1,314	$164,250
Farmland loans - <$100k	3	$125	$41,667
Farmland loans - $100-250k	3	$249	$83,000
Farmland loans - $250k-1MM	2	$940	$470,000