Somerset Trust Company Mortgage Rates, Fees & Info

SOMERSET, PA

LEI: 549300D1PL8LHKCBST97

Tax ID: 25-0807970

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Somerset Trust Company is a smaller mortgage company specializing in Home Purchase and Refi loans. Somerset Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Somerset, Johnstown, Cumberland, and Washington among others. We have data for 29 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Somerset Trust Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Somerset Trust Company 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
    30 Year Conventional Purchase 6.85% 11/22/24
    30 Year Conventional Refi 6.82% 11/22/24
    30 Year Cash-out Refi 6.53% 11/22/24
    30 Year USDA Purchase 7.01% 11/22/24
    15 Year Conventional Purchase 6.15% 11/22/24
    15 Year Conventional Refi 5.52% 11/22/24
    15 Year Cash-out Refi 5.52% 11/22/24
    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.

    Somerset Trust Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Somerset Trust Company. 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

    1,028

    Origination Dollar Volume (All Markets)

    $114,020,000

    Employee count

    406 Show all (5) awards

    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
    PITTSBURGH, PA (FHA|USDA|VA) 420 $53,830,000 $128,167 $2,034 4.86%
    Somerset, PA (FHA|USDA|VA) 379 $34,745,000 $91,675 $1,684 4.62%
    Outside of Metro Areas 117 $14,305,000 $122,265 $2,101 4.98%
    JOHNSTOWN, PA (FHA|USDA|VA) 74 $4,520,000 $61,081 $1,386 4.47%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 6 $720,000 $120,000 $2,090 5.59%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $670,000 $335,000 $2,800 3.19%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $420,000 $210,000 $0 5.90%
    ALTOONA, PA (FHA|USDA|VA) 2 $400,000 $200,000 $3,894 5.19%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $390,000 $195,000 $2,586 3.69%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $355,000 $355,000 $2,805 3.75%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $335,000 $335,000 $0 6.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $305,000 $305,000 $0 6.00%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 1 $255,000 $255,000 $3,173 4.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,166 4.50%
    Indiana, PA (FHA|USDA|VA) 4 $250,000 $62,500 $1,595 4.67%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $240,000 $120,000 $3,007 4.31%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $215,000 $215,000 $4,195 3.88%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $205,000 $205,000 $0 5.33%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 5.99%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $185,000 $185,000 $3,506 3.75%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,475 3.75%
    Huntingdon, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,370 4.75%
    LEBANON, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,399 3.63%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $165,000 $165,000 $3,196 4.13%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $2,830 3.63%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $135,000 $135,000 $3,103 3.50%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 6.59%
    Bradford, PA (FHA|USDA|VA) 1 $65,000 $65,000 $575 4.99%
    DuBois, PA (FHA|USDA|VA) 1 $45,000 $45,000 $1,866 7.25%
    Somerset Trust Company's top markets include Pittsburgh, Somerset, Johnstown, Cumberland, and Washington among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against SOMERSET TRUST COMPANY based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 52
    TRI BORO
    Similarity Rank: 70
    American Financial Mortgage Corporation
    Similarity Rank: 172
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 210
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 237
    M. S. Flynn, Inc.
    Similarity Rank: 252
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 328
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 344
    ARMCO CREDIT UNION
    Similarity Rank: 490
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 494

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 964 $107,950,000 $111,981 $1,699 4.78%
    USDA 63 $5,745,000 $91,190 $3,918 4.32%
    VA 1 $325,000 $325,000 $3,919 4.63%

    For 2019, Somerset Trust Company's most frequently originated type of loan was Conventional, with 964 originations. Their 2nd most popular type was USDA, with 63 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 440 $59,270,000 $134,705 $3,412 4.75%
    Refi 325 $40,975,000 $126,077 $1,462 4.68%
    Other 158 $6,560,000 $41,519 $44 4.83%
    Home Improvement 89 $4,815,000 $54,101 $210 4.84%
    Cash Out Refi 16 $2,400,000 $150,000 $2,125 5.10%

    For 2019, Somerset Trust Company's most frequently cited loan purpose was Home Purchase, with 440 originations. The 2nd most popular reason was Refi, with 325 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 334 $33,610,000 $100,629 $1,151 5.06%
    30 Year 272 $37,020,000 $136,103 $3,346 4.26%
    10 Year 188 $9,010,000 $47,926 $153 4.92%
    20 Year 71 $13,695,000 $192,887 $2,950 5.23%
    5 Year 65 $1,805,000 $27,769 $9 4.37%
    Other 62 $11,440,000 $184,516 $2,308 4.66%
    30+ year 31 $7,135,000 $230,161 $5,961 4.67%
    3 Year 3 $55,000 $18,333 $0 3.99%
    1 Year 2 $250,000 $125,000 $0 6.25%

    For 2019, Somerset Trust Company's most frequently cited loan duration was 15 Year, with 334 originations. The 2nd most popular length was 30 Year, with 272 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 792 $75,650,000 $95,518
    $1k-2k 26 $3,580,000 $137,692
    $2k-3k 16 $3,340,000 $208,750
    $3k-4k 6 $2,060,000 $343,333
    $4k-5k 2 $1,170,000 $585,000
    $5k+ 1 $235,000 $235,000

    Somerset Trust Company's average total fees were $3,346, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 792 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 448 $41,850,000 $93,415
    3-4% 240 $32,530,000 $135,542
    5-6% 221 $26,715,000 $120,882
    6-7% 66 $7,350,000 $111,364
    2.5-3% 30 $4,600,000 $153,333
    7-8% 15 $735,000 $49,000
    Over 8% 8 $240,000 $30,000

    During 2019, Somerset Trust Company's average interest rate for loans was 4.26%, while their most frequently originated rate bucket for loans was 4-5%, with 448 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 646 $32,680,000 $50,588 $976 4.92%
    $100k-200k 244 $34,490,000 $141,352 $3,014 4.47%
    $200k-400k 115 $31,435,000 $273,348 $4,047 4.47%
    $400k-600k 17 $7,705,000 $453,235 $5,196 4.20%
    $1MM+ 3 $5,665,000 $1,888,333 $0 5.24%
    $600k-1MM 3 $2,045,000 $681,667 $8,865 5.86%

    2019 saw Somerset Trust Company place emphasis on $100,000 or less loans with 646 originations, totaling $32,680,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 251 $15,315,000 $61,016 $1,566 4.79%
    $50k-75k 235 $19,605,000 $83,426 $1,846 4.71%
    $100k-150k 163 $19,935,000 $122,301 $1,981 4.55%
    $75k-100k 152 $15,810,000 $104,013 $1,858 4.66%
    $150k-250k 76 $13,060,000 $171,842 $2,285 4.37%
    $250k+ 36 $8,690,000 $241,389 $3,125 4.51%

    Somerset Trust Company lent most frequently to those with incomes in the $50k or less range, with 251 originations. The second most popular income band? $50k-75k, with 235 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 271 $24,955,000 $92,085 $1,754 4.54%
    30-36% 175 $19,155,000 $109,457 $1,957 4.58%
    <20% 164 $13,280,000 $80,976 $1,506 4.56%
    41% 44 $4,390,000 $99,773 $1,613 4.76%
    36% 36 $4,360,000 $121,111 $2,231 4.44%
    42% 33 $3,705,000 $112,273 $2,138 4.80%
    39% 30 $3,440,000 $114,667 $1,692 4.93%
    40% 30 $2,890,000 $96,333 $1,929 4.62%
    37% 30 $2,380,000 $79,333 $1,754 4.62%
    38% 28 $2,670,000 $95,357 $1,530 4.52%
    >60% 27 $3,485,000 $129,074 $0 5.97%
    50-60% 14 $1,280,000 $91,429 $0 6.03%
    47% 10 $1,320,000 $132,000 $3,722 4.87%
    44% 9 $1,555,000 $172,778 $4,182 4.66%
    43% 8 $1,220,000 $152,500 $3,757 4.28%
    45% 8 $1,180,000 $147,500 $3,255 4.10%
    48% 7 $1,295,000 $185,000 $3,210 4.94%
    46% 6 $1,020,000 $170,000 $3,698 4.21%
    49% 5 $955,000 $191,000 $3,627 4.83%

    Somerset Trust Company lent most frequently to those with DTI ratios of 20-30%, with 271 originations. The next most common DTI ratio? 30-36%, with 175 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 902 $91,300,000 $101,220 $1,853 4.68%
    Not applicable 82 $17,970,000 $219,146 $3,405 5.83%
    Not provided 32 $3,550,000 $110,938 $2,216 4.19%
    Asian 4 $540,000 $135,000 $3,308 4.09%
    Chinese 2 $410,000 $205,000 $3,151 5.38%
    Black 5 $165,000 $33,000 $0 4.36%
    Native Hawaiian or Islander 1 $85,000 $85,000 $0 5.99%

    Approval Rates

    Total approvals of all applications
    87.56%

    Somerset Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.81%

    Somerset Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 3 $85,000 $28,333
    2.5 4 $170,000 $42,500
    252.5 2 $90,000 $45,000
    258.7 1 $25,000 $25,000
    NA 1,018 $113,650,000 $111,640

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $285,000 $285,000
    Multifamily:Site-Built 33 $12,275,000 $371,970
    Single Family (1-4 Units):Manufactured 86 $5,330,000 $61,977
    Single Family (1-4 Units):Site-Built 908 $96,130,000 $105,870

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 143 $7,345,000 $51,364 $223 4.87%
    40-60% 124 $12,790,000 $103,145 $1,170 4.99%
    60-80% 321 $46,805,000 $145,810 $2,401 4.73%
    80-100% 330 $43,760,000 $132,606 $3,017 4.62%
    Over 100% 2 $400,000 $200,000 $0 6.27%
    Under 20% 106 $2,830,000 $26,698 $14 4.76%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SYNERGY ONE LENDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 37.5%
    SYNERGY ONE LENDING, INC. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    SYNERGY ONE LENDING, INC. FHA mortgage Closing on a mortgage 3 37.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Somerset Trust Company 3245 Chestnut Ridge Road Grantsville, MD 21536 Full Service B&M $19,256
    Somerset Trust Company 116 Market Street Johnstown, PA 15901 Full Service B&M $46,696
    Somerset Trust Company 117 S. Walnut St. Ligonier, PA 15658 Full Service B&M $602
    Somerset Trust Company 1176 National Pike Hopwood, PA 15445 Full Service B&M $14,400
    Somerset Trust Company 12120 Us 30 North Huntingdon, PA 15642 Full Service B&M $0
    Somerset Trust Company 1416 Scalp Avenue Johnstown, PA 15904 Full Service B&M $64,139
    Somerset Trust Company 1446 County Line Rd Champion, PA 15622 Full Service B&M $26,187
    Somerset Trust Company 1450 Morrell Avenue Connellsville, PA 15425 Full Service Retail $9,642
    Somerset Trust Company 151 Center Street Meyersdale, PA 15552 Full Service B&M $31,752
    Somerset Trust Company 151 West Main Street Somerset, PA 15501 Full Service B&M $370,367
    Somerset Trust Company 1513 Scalp Avenue Johnstown, PA 15904 Full Service B&M $1,063
    Somerset Trust Company 161 12th Street New Florence, PA 15944 Full Service B&M $3,933
    Somerset Trust Company 1739 Lyter Drive Johnstown, PA 15905 Full Service B&M $13,445
    Somerset Trust Company 2028 North Center Ave Somerset, PA 15501 Full Service Retail $9,644
    Somerset Trust Company 2095 Quaker Valley Road Fishertown, PA 15539 Full Service Retail $19,666
    Somerset Trust Company 210 Ohio Street Boswell, PA 15531 Full Service Retail $11,905
    Somerset Trust Company 2100 Summit Ridge Plaza Mount Pleasant, PA 15666 Full Service Retail $6,959
    Somerset Trust Company 228 W. Main Street Ligonier, PA 15658 Full Service B&M $46,119
    Somerset Trust Company 250 South 3rd Street Youngwood, PA 15697 Full Service Retail $3,141
    Somerset Trust Company 2690 William Penn Ave Johnstown, PA 15909 Full Service B&M $19,750
    Somerset Trust Company 300 Laurel Drive Connellsville, PA 15425 Full Service Retail $12,995
    Somerset Trust Company 344 Goucher Street Johnstown, PA 15905 Limited, Drive-thru $14,878
    Somerset Trust Company 4185 Glades Pike Somerset, PA 15501 Full Service B&M $22,174
    Somerset Trust Company 420 Main Street Berlin, PA 15530 Full Service B&M $61,385
    Somerset Trust Company 450 Schoolhouse Road Johnstown, PA 15904 Full Service B&M $637
    Somerset Trust Company 4634 National Pike Markleysburg, PA 15459 Full Service B&M $12,317
    Somerset Trust Company 581 Pittsburgh Rd Uniontown, PA 15401 Full Service B&M $5,910
    Somerset Trust Company 612 Logan Place Confluence, PA 15424 Full Service B&M $40,849
    Somerset Trust Company 7109 Mason Dixon Highway Meyersdale, PA 15552 Full Service B&M $13,463
    Somerset Trust Company 803 Barn Street Hooversville, PA 15936 Full Service B&M $15,665
    Somerset Trust Company 835 East Pittsburgh Street Greensburg, PA 15601 Full Service B&M $1,628
    Somerset Trust Company 8796 Lincoln Hwy Bedford, PA 15522 Full Service B&M $31,047
    Somerset Trust Company 904 W. Crawford Avenue Connellsville, PA 15425 Full Service B&M $49,645
    Somerset Trust Company 915 Mills Drive North Huntingdon, PA 15642 Full Service Retail $948
    Somerset Trust Company R.D. 2, Route 601 Somerset, PA 15501 Full Service B&M $29,253

    For 2019, Somerset Trust Company had 35 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $61,760
    Net interest income $50,629
    Total noninterest income $14,255
    Gross Fiduciary activities income $3,254
    Service charges on deposit accounts $2,041
    Trading account gains and fees $0
    Additional Noninterest Income $8,960
    Pre-tax net operating income $10,285
    Securities gains (or losses, -) $2,004
    Income before extraordinary items $11,167
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,167
    Minority interest net income $0
    Net income $11,167
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,343

    Somerset Trust Company's gross interest income from loans was $61,760,000.
    Somerset Trust Company's net interest income from loans was $50,629,000.
    Somerset Trust Company's fee based income from loans was $2,041,000.
    Somerset Trust Company's net income from loans was $11,167,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $11,131
    Provision for credit losses $2,650
    Total noninterest expense $51,949
    Salaries and employee benefits $29,418
    Premises and equipment expense $5,997
    Additional noninterest expense $16,534
    Applicable income taxes $1,122
    Net charge-offs $1,822
    Cash dividends $3,916

    Somerset Trust Company's interest expense for loans was $11,131,000.
    Somerset Trust Company's payroll and benefits expense were $29,418,000.
    Somerset Trust Company's property, plant and equipment expenses $5,997,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 8.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.4%
    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 $1,034,521
    Deposits held in domestic offices $1,034,521
    Deposits by Individuals, partnerships, and corporations $923,768
    Deposits by U.S. Government $274
    Deposits by States and political subdivisions in the U.S. $109,923
    Deposits by Commercial banks and other depository institutions in U.S. $557
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $94,669
    Demand deposits $53,900
    Nontransaction accounts $939,853
    Money market deposit accounts (MMDAs) $250,937
    Other savings deposits (excluding MMDAs) $388,279
    Total time deposits $300,636
    Total time and savings deposits $980,622
    Noninterest-bearing deposits $203,081
    Interest-bearing deposits $831,440
    Retail deposits $958,037
    IRAs and Keogh plan accounts $54,625
    Brokered deposits $34,152
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,335,090
    Cash & Balances due from depository institutions $26,726
    Interest-bearing balances $1,893
    Total securities $300,671
    Federal funds sold & reverse repurchase $0
    Net loans and leases $932,367
    Loan and leases loss allowance $11,802
    Trading account assets $0
    Bank premises and fixed assets $31,760
    Other real estate owned $1,055
    Goodwill and other intangibles $2,017
    All other assets $40,494

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,335,090
    Total Liabilities $1,216,753
    Total deposits $1,034,521
    Interest-bearing deposits $831,440
    Deposits held in domestic offices $1,034,521
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $18,813
    Trading liabilities $0
    Other borrowed funds $146,685
    Subordinated debt $0
    All other liabilities $16,734

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $932,367
    Loan and leases loss allowance $11,802
    Total loans and leases (domestic) $944,169
    All real estate loans $581,785
    Real estate loans in domestic offices $581,785
    Construction and development loans $34,710
    Residential 1-4 family construction $11,289
    Other construction, all land development and other land $23,421
    Loans secured by nonfarm nonresidential properties $271,926
    Nonfarm nonresidential secured by owner-occupied properties $140,351
    Commercial real estate & other non-farm, non-residential $131,575
    Multifamily residential real estate $24,555
    1-4 family residential loans $223,805
    Farmland loans $26,789
    Loans held in foreign offices $0
    Farm loans $4,957
    Commercial and industrial loans $251,687
    To non-U.S. addressees $0
    Loans to individuals $45,063
    Credit card loans $4,181
    Related Plans $8,412
    Consumer Auto Loans $14,805
    Other loans to individuals $17,665
    All other loans & leases $61,196
    Loans to foreign governments and official institutions $0
    Other loans $4,807
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $538
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $5,518
    Non 1-4 family restructured loans & leases $5,505
    Total loans and leases (foreign) $0

    SOMERSET TRUST COMPANY had $932,367,000 of loans outstanding in 2019. $581,785,000 of loans were in real estate loans. $34,710,000 of loans were in development loans. $24,555,000 of loans were in multifamily mortgage loans. $223,805,000 of loans were in 1-4 family mortgage loans. $4,957,000 of loans were in farm loans. $4,181,000 of loans were in credit card loans. $14,805,000 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 647 $103,499 $159,968
    Nonfarm, nonresidential loans - <$100k 254 $10,448 $41,134
    Nonfarm, nonresidential loans - $100-250k 232 $30,009 $129,349
    Nonfarm, nonresidential loans - $250k-1MM 161 $63,042 $391,565
    Commercial & Industrial, US addressed loans - <$1MM 1,955 $100,385 $51,348
    Commercial & Industrial, US addressed loans - <$100k 1,550 $29,655 $19,132
    Commercial & Industrial, US addressed loans - $100-250k 259 $27,489 $106,135
    Commercial & Industrial, US addressed loans - $250k-1MM 146 $43,241 $296,171
    Farmland loans - <$1MM 118 $14,668 $124,305
    Farmland loans - <$100k 54 $2,278 $42,185
    Farmland loans - $100-250k 43 $6,358 $147,860
    Farmland loans - $250k-1MM 21 $6,032 $287,238
    Agriculture operations loans - <$1MM 193 $4,957 $25,684
    Agriculture operations loans - <$100k 177 $2,972 $16,791
    Agriculture operations loans - $100-250k 13 $1,248 $96,000
    Agriculture operations loans - $250k-1MM 3 $737 $245,667