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

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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, The Villages, Deltona, Tampa, and Ocala among others. We have data for 6 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

    155

    Origination Dollar Volume (All Markets)

    $35,285,000

    Employee count

    146

    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) 129 $28,685,000 $222,364 $0 0.00%
    THE VILLAGES, FL (FHA|USDA|VA) 10 $2,240,000 $224,000 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $1,945,000 $389,000 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $1,285,000 $428,333 $0 0.00%
    OCALA, FL (FHA|USDA|VA) 7 $905,000 $129,286 $0 0.00%
    Palatka, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    United Southern Bank's top markets include Orlando, The Villages, Deltona, Tampa, and Ocala among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 155 $35,285,000 $227,645 $0 0.00%

    For 2021, United Southern Bank's most frequently originated type of loan was Conventional, with 155 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 125 $30,115,000 $240,920 $0 0.00%
    Refi 25 $4,835,000 $193,400 $0 0.00%
    Home Improvement 3 $275,000 $91,667 $0 0.00%
    Other 2 $60,000 $30,000 $0 0.00%

    For 2021, United Southern Bank's most frequently cited loan purpose was Home Purchase, with 125 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 155 $35,285,000 $227,645 $0 0.00%

    For 2021, United Southern Bank's most frequently cited loan duration was Other, with 155 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 53 $7,725,000 $145,755 $0 0.00%
    $100,000 or less 40 $2,490,000 $62,250 $0 0.00%
    $200k-400k 37 $9,425,000 $254,730 $0 0.00%
    $400k-600k 19 $8,945,000 $470,789 $0 0.00%
    $1MM+ 4 $5,110,000 $1,277,500 $0 0.00%
    $600k-1MM 2 $1,590,000 $795,000 $0 0.00%

    2021 saw United Southern Bank place emphasis on $100k-200k loans with 53 originations, totaling $7,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $2,545,000 $110,652 $0 0.00%
    $100k-150k 17 $3,385,000 $199,118 $0 0.00%
    $50k-75k 15 $2,705,000 $180,333 $0 0.00%
    $75k-100k 15 $2,705,000 $180,333 $0 0.00%
    $150k-250k 12 $2,740,000 $228,333 $0 0.00%
    $250k+ 11 $6,135,000 $557,727 $0 0.00%

    United Southern Bank lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 155 $35,285,000 $227,645 $0 0.00%

    United Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 155 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 81 $17,545,000 $216,605 $0 0.00%
    Not applicable 62 $15,070,000 $243,065 $0 0.00%
    Not provided 10 $1,480,000 $148,000 $0 0.00%
    American Indian 1 $1,125,000 $1,125,000 $0 0.00%
    Black 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.12%

    United Southern 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
    74.19%

    United Southern Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 155 $35,285,000 $227,645

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    155 $35,285,000 $227,645

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    UNITED COMMUNITY BANK Conventional home mortgage Trouble during payment process 1 20.0%
    UNITED COMMUNITY BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    UNITED COMMUNITY BANK Other type of mortgage Trouble during payment process 1 20.0%
    UNITED COMMUNITY BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    UNITED COMMUNITY BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 20.0%

    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 $26,930
    United Southern Bank 1017 Us Highway 301 Wildwood, FL 34785 Full Service B&M $6,537
    United Southern Bank 1303 North New Hampshire Avenue Tavares, FL 32778 Full Service B&M $48,303
    United Southern Bank 13609 Us Hwy 441 Lady Lake, FL 32159 Full Service B&M $23,256
    United Southern Bank 1510 East Service Road 50 Clermont, FL 34711 Full Service B&M $30,939
    United Southern Bank 19010 Us Hwy 441 Mount Dora, FL 32757 Full Service B&M $54,607
    United Southern Bank 224 South Us 27 Lady Lake, FL 32159 Full Service B&M $31,795
    United Southern Bank 24510 State Road 40 Astor, FL 32102 Full Service B&M $37,314
    United Southern Bank 2701 South Bay Street Eustis, FL 32726 Full Service B&M $130,181
    United Southern Bank 27524 U.S. Highway 27 Leesburg, FL 34748 Full Service B&M $98,027
    United Southern Bank 331 Raintree Drive Altoona, FL 32702 Limited, Mobile/Seasonal Office $6,439
    United Southern Bank 445 Waterman Village Mount Dora, FL 32757 Limited, Mobile/Seasonal Office $482
    United Southern Bank 515 W. Main St. Leesburg, FL 34748 Full Service B&M $86,958
    United Southern Bank 750 North Central Avenue Umatilla, FL 32784 Full Service B&M $118,053
    United Southern Bank 900 Lake Port Square Boulevard Leesburg, FL 34748 Limited, Mobile/Seasonal Office $7,705

    For 2021, United Southern Bank had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $23,499
    Net interest income $22,972
    Total noninterest income $4,666
    Gross Fiduciary activities income $1,347
    Service charges on deposit accounts $599
    Trading account gains and fees $0
    Additional Noninterest Income $2,720
    Pre-tax net operating income $9,816
    Securities gains (or losses, -) $0
    Income before extraordinary items $7,564
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,564
    Minority interest net income $0
    Net income $7,564
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,564

    United Southern Bank's gross interest income from loans was $23,499,000.
    United Southern Bank's net interest income from loans was $22,972,000.
    United Southern Bank's fee based income from loans was $599,000.
    United Southern Bank's net income from loans was $7,564,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $527
    Provision for credit losses $473
    Total noninterest expense $17,349
    Salaries and employee benefits $10,196
    Premises and equipment expense $1,913
    Additional noninterest expense $5,240
    Applicable income taxes $2,252
    Net charge-offs $-2
    Cash dividends $1,763

    United Southern Bank's interest expense for loans was $527,000.
    United Southern Bank's payroll and benefits expense were $10,196,000.
    United Southern Bank's property, plant and equipment expenses $1,913,000.

    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 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 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $779,799
    Deposits held in domestic offices $779,799
    Deposits by Individuals, partnerships, and corporations $742,069
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $37,730
    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 $446,156
    Demand deposits $254,647
    Nontransaction accounts $333,643
    Money market deposit accounts (MMDAs) $166,835
    Other savings deposits (excluding MMDAs) $134,574
    Total time deposits $32,233
    Total time and savings deposits $525,152
    Noninterest-bearing deposits $446,156
    Interest-bearing deposits $333,643
    Retail deposits $772,879
    IRAs and Keogh plan accounts $8,105
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $847,789
    Cash & Balances due from depository institutions $53,777
    Interest-bearing balances $44,272
    Total securities $464,282
    Federal funds sold & reverse repurchase $0
    Net loans and leases $295,260
    Loan and leases loss allowance $9,569
    Trading account assets $0
    Bank premises and fixed assets $10,497
    Other real estate owned $69
    Goodwill and other intangibles $0
    All other assets $23,904

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $847,789
    Total Liabilities $786,390
    Total deposits $779,799
    Interest-bearing deposits $333,643
    Deposits held in domestic offices $779,799
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $6,591

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $295,260
    Loan and leases loss allowance $9,569
    Total loans and leases (domestic) $304,829
    All real estate loans $283,880
    Real estate loans in domestic offices $283,880
    Construction and development loans $39,017
    Residential 1-4 family construction $10,271
    Other construction, all land development and other land $28,746
    Loans secured by nonfarm nonresidential properties $140,703
    Nonfarm nonresidential secured by owner-occupied properties $16,514
    Commercial real estate & other non-farm, non-residential $124,189
    Multifamily residential real estate $5,900
    1-4 family residential loans $94,854
    Farmland loans $3,406
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $15,562
    To non-U.S. addressees $0
    Loans to individuals $4,776
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,039
    Other loans to individuals $3,737
    All other loans & leases $1,597
    Loans to foreign governments and official institutions $0
    Other loans $1,597
    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 $2,020
    Non 1-4 family restructured loans & leases $1,522
    Total loans and leases (foreign) $0

    United Southern Bank had $295,260,000 of loans outstanding in 2021. $283,880,000 of loans were in real estate loans. $39,017,000 of loans were in development loans. $5,900,000 of loans were in multifamily mortgage loans. $94,854,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,039,000 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 387 $90,579 $234,054
    Nonfarm, nonresidential loans - <$100k 62 $2,559 $41,274
    Nonfarm, nonresidential loans - $100-250k 142 $17,958 $126,465
    Nonfarm, nonresidential loans - $250k-1MM 183 $70,062 $382,852
    Commercial & Industrial, US addressed loans - <$1MM 229 $11,817 $51,603
    Commercial & Industrial, US addressed loans - <$100k 184 $3,838 $20,859
    Commercial & Industrial, US addressed loans - $100-250k 32 $4,531 $141,594
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $3,448 $265,231
    Farmland loans - <$1MM 11 $1,629 $148,091
    Farmland loans - <$100k 2 $141 $70,500
    Farmland loans - $100-250k 6 $728 $121,333
    Farmland loans - $250k-1MM 3 $760 $253,333