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

Jump to:

  • 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 Refi and Home Purchase loans. Somerset Trust Company has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Pittsburgh, Somerset, Johnstown, Virginia Beach, and Indiana among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Somerset Trust Company 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. 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.

    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
    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

    1,458

    Origination Dollar Volume (All Markets)

    $207,870,000

    Employee count

    433 Show all (6) 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) 610 $98,290,000 $161,131 $2,885 3.65%
    Somerset, PA (FHA|USDA|VA) 530 $61,070,000 $115,226 $2,362 3.52%
    Outside of Metro Areas 137 $19,815,000 $144,635 $2,589 3.58%
    JOHNSTOWN, PA (FHA|USDA|VA) 111 $11,785,000 $106,171 $2,559 3.43%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $2,720,000 $1,360,000 $3,509 3.38%
    Indiana, PA (FHA|USDA|VA) 9 $1,405,000 $156,111 $2,907 3.57%
    ALTOONA, PA (FHA|USDA|VA) 6 $1,270,000 $211,667 $3,632 4.06%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 6 $1,190,000 $198,333 $6,205 5.08%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,180,000 $295,000 $3,723 2.66%
    LANCASTER, PA (FHA|USDA|VA) 6 $1,120,000 $186,667 $3,409 3.63%
    Montrose, CO (FHA|USDA|VA) 2 $740,000 $370,000 $2,330 2.44%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 4 $740,000 $185,000 $3,230 2.69%
    YORK-HANOVER, PA (FHA|USDA|VA) 4 $710,000 $177,500 $3,769 2.78%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $700,000 $350,000 $2,425 2.81%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $540,000 $270,000 $3,810 4.00%
    BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) 2 $510,000 $255,000 $2,321 3.13%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $495,000 $495,000 $2,901 2.25%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $390,000 $195,000 $0 4.77%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $375,000 $375,000 $5,015 4.63%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $305,000 $305,000 $2,108 3.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $235,000 $235,000 $2,332 2.38%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $2,940 3.25%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $215,000 $215,000 $3,057 2.50%
    Clarksburg, WV (FHA|USDA|VA) 1 $215,000 $215,000 $3,229 3.25%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,184 2.38%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,430 2.88%
    DuBois, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,496 3.00%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $155,000 $155,000 $1,916 2.38%
    Lewisburg, PA (FHA|USDA|VA) 1 $155,000 $155,000 $3,284 2.63%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $155,000 $155,000 $1,739 3.00%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $145,000 $145,000 $3,137 4.38%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $145,000 $145,000 $1,816 2.50%
    MORGANTOWN, WV (FHA|USDA|VA) 2 $120,000 $60,000 $509 5.40%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $115,000 $115,000 $2,968 3.25%
    ROCHESTER, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,870 3.13%
    Somerset Trust Company's top markets include Pittsburgh, Somerset, Johnstown, Virginia Beach, and Indiana among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (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: 189
    M. S. Flynn, Inc.
    Similarity Rank: 236
    TRI BORO
    Similarity Rank: 264
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 456
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 623
    NEW FED MORTGAGE, CORP.
    Similarity Rank: 644
    ARMCO CREDIT UNION
    Similarity Rank: 645
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 670
    PRINCETON FINANCIAL LLC
    Similarity Rank: 754
    Standard Bank, PaSB
    Similarity Rank: 756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,388 $200,080,000 $144,150 $2,541 3.59%
    USDA 70 $7,790,000 $111,286 $4,289 3.31%

    For 2020, Somerset Trust Company's most frequently originated type of loan was Conventional, with 1,388 originations. Their 2nd most popular type was USDA, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 603 $95,935,000 $159,096 $2,492 3.31%
    Home Purchase 461 $66,105,000 $143,395 $3,624 3.78%
    Cash Out Refi 204 $34,680,000 $170,000 $3,240 2.94%
    Other 110 $5,810,000 $52,818 $442 4.52%
    Home Improvement 80 $5,340,000 $66,750 $207 4.68%

    For 2020, Somerset Trust Company's most frequently cited loan purpose was Refi, with 603 originations. The 2nd most popular reason was Home Purchase, with 461 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 526 $74,480,000 $141,597 $2,619 3.41%
    30 Year 378 $58,800,000 $155,556 $3,476 3.37%
    10 Year 193 $16,785,000 $86,969 $1,206 3.92%
    20 Year 184 $34,740,000 $188,804 $2,728 3.70%
    Other 90 $14,520,000 $161,333 $2,414 3.81%
    5 Year 56 $2,640,000 $47,143 $57 4.12%
    30+ year 27 $5,665,000 $209,815 $5,643 4.25%
    3 Year 3 $195,000 $65,000 $0 4.41%
    1 Year 1 $45,000 $45,000 $0 7.25%

    For 2020, Somerset Trust Company's most frequently cited loan duration was 15 Year, with 526 originations. The 2nd most popular length was 30 Year, with 378 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1,234 $166,480,000 $134,911
    $1k-2k 39 $5,895,000 $151,154
    $2k-3k 15 $3,575,000 $238,333
    $3k-4k 2 $760,000 $380,000

    Somerset Trust Company's average total fees were $3,476, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,234 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 386 $52,880,000 $136,995
    2.5-3% 362 $62,280,000 $172,044
    4-5% 304 $41,960,000 $138,026
    <2.5% 272 $40,770,000 $149,890
    5-6% 107 $8,765,000 $81,916
    6-7% 11 $425,000 $38,636
    7-8% 9 $355,000 $39,444
    Over 8% 6 $330,000 $55,000
    % 1 $105,000 $105,000

    During 2020, Somerset Trust Company's average interest rate for loans was 3.37%, while their most frequently originated rate bucket for loans was 3-4%, with 386 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 606 $34,180,000 $56,403 $1,556 4.06%
    $100k-200k 551 $78,825,000 $143,058 $3,133 3.23%
    $200k-400k 265 $70,015,000 $264,208 $3,677 3.17%
    $400k-600k 28 $13,160,000 $470,000 $4,641 3.38%
    $1MM+ 4 $8,860,000 $2,215,000 $0 4.43%
    $600k-1MM 4 $2,830,000 $707,500 $0 4.75%

    2020 saw Somerset Trust Company place emphasis on $100,000 or less loans with 606 originations, totaling $34,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 325 $34,385,000 $105,800 $2,420 3.67%
    $75k-100k 266 $33,890,000 $127,406 $2,584 3.45%
    $100k-150k 258 $39,770,000 $154,147 $2,718 3.34%
    $50k or less 247 $20,155,000 $81,599 $2,355 3.76%
    $150k-250k 161 $35,625,000 $221,273 $3,279 3.20%
    $250k+ 49 $13,085,000 $267,041 $3,496 3.28%

    Somerset Trust Company lent most frequently to those with incomes in the $50k-75k range, with 325 originations. The second most popular income band? $75k-100k, with 266 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 435 $58,515,000 $134,517 $2,645 3.32%
    30-36% 273 $35,265,000 $129,176 $2,649 3.50%
    <20% 228 $29,810,000 $130,746 $2,517 3.31%
    36% 60 $8,270,000 $137,833 $2,674 3.40%
    41% 43 $6,695,000 $155,698 $2,450 3.83%
    42% 42 $4,950,000 $117,857 $1,950 4.17%
    37% 42 $5,550,000 $132,143 $2,439 3.84%
    40% 38 $4,360,000 $114,737 $2,098 3.86%
    38% 35 $4,355,000 $124,429 $2,662 3.96%
    39% 34 $4,290,000 $126,176 $3,000 3.50%
    47% 23 $4,625,000 $201,087 $3,562 3.25%
    >60% 22 $4,630,000 $210,455 $0 4.79%
    43% 22 $3,630,000 $165,000 $3,314 3.16%
    44% 21 $4,335,000 $206,429 $3,199 3.60%
    46% 17 $2,175,000 $127,941 $3,055 2.90%
    50-60% 12 $1,100,000 $91,667 $1,623 4.86%
    45% 8 $1,520,000 $190,000 $3,018 3.59%
    49% 7 $1,045,000 $149,286 $3,421 3.76%
    48% 6 $1,220,000 $203,333 $3,542 3.02%

    Somerset Trust Company lent most frequently to those with DTI ratios of 20-30%, with 435 originations. The next most common DTI ratio? 30-36%, with 273 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,309 $177,605,000 $135,680 $2,611 3.51%
    Not applicable 87 $20,895,000 $240,172 $3,778 4.88%
    Not provided 52 $7,690,000 $147,885 $3,148 3.14%
    Black 5 $1,125,000 $225,000 $3,464 3.43%
    Asian 3 $335,000 $111,667 $2,389 2.42%
    Asian Indian 1 $135,000 $135,000 $0 4.40%
    American Indian 1 $85,000 $85,000 $2,721 2.88%

    Approval Rates

    Total approvals of all applications
    90.86%

    Somerset Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.98%

    Somerset Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    101.5 3 $145,000 $48,333
    107.7 1 $35,000 $35,000
    252.5 6 $290,000 $48,333
    NA 1,448 $207,400,000 $143,232

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 34 $14,210,000 $417,941
    Single Family (1-4 Units):Manufactured 78 $6,900,000 $88,462
    Single Family (1-4 Units):Site-Built 1,346 $186,760,000 $138,752

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 134 $9,150,000 $68,284 $1,189 4.13%
    40-60% 230 $30,580,000 $132,957 $2,451 3.35%
    60-80% 579 $98,485,000 $170,095 $2,995 3.43%
    80-100% 404 $64,930,000 $160,718 $3,343 3.48%
    Over 100% 5 $795,000 $159,000 $4,844 3.30%
    Under 20% 104 $3,610,000 $34,712 $172 4.52%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SYNERGY ONE LENDING, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 33.3%
    SYNERGY ONE LENDING, INC. Conventional home mortgage Closing on a mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. Conventional home mortgage Trouble during payment process 1 11.1%
    SYNERGY ONE LENDING, INC. FHA mortgage Closing on a mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. Reverse mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    SYNERGY ONE LENDING, INC. VA mortgage Closing on a mortgage 1 11.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Somerset Trust Company 116 Market Street Johnstown, PA 15901 Full Service B&M $66,770
    Somerset Trust Company 117 S. Walnut St. Ligonier, PA 15658 Full Service B&M $1,194
    Somerset Trust Company 1176 National Pike Hopwood, PA 15445 Full Service B&M $15,773
    Somerset Trust Company 12120 Us 30 North Huntingdon, PA 15642 Full Service B&M $17,996
    Somerset Trust Company 1416 Scalp Avenue Johnstown, PA 15904 Full Service B&M $84,357
    Somerset Trust Company 1446 County Line Rd Champion, PA 15622 Full Service B&M $33,651
    Somerset Trust Company 1450 Morrell Avenue Connellsville, PA 15425 Full Service Retail $10,345
    Somerset Trust Company 151 Center Street Meyersdale, PA 15552 Full Service B&M $35,316
    Somerset Trust Company 151 West Main Street Somerset, PA 15501 Full Service B&M $402,567
    Somerset Trust Company 1513 Scalp Avenue Johnstown, PA 15904 Full Service B&M $2,354
    Somerset Trust Company 161 12th Street New Florence, PA 15944 Full Service B&M $5,928
    Somerset Trust Company 1739 Lyter Drive Johnstown, PA 15905 Full Service B&M $19,595
    Somerset Trust Company 2028 North Center Ave Somerset, PA 15501 Full Service Retail $12,362
    Somerset Trust Company 2095 Quaker Valley Road Fishertown, PA 15539 Full Service Retail $22,831
    Somerset Trust Company 210 Ohio Street Boswell, PA 15531 Full Service Retail $14,388
    Somerset Trust Company 2100 Summit Ridge Plaza Mount Pleasant, PA 15666 Full Service Retail $11,406
    Somerset Trust Company 228 W. Main Street Ligonier, PA 15658 Full Service B&M $53,978
    Somerset Trust Company 232 Pittsburgh Street Connellsville, PA 15425 Full Service B&M $12,735
    Somerset Trust Company 250 South 3rd Street Youngwood, PA 15697 Full Service Retail $5,547
    Somerset Trust Company 2690 William Penn Ave Johnstown, PA 15909 Full Service B&M $22,218
    Somerset Trust Company 3245 Chestnut Ridge Road Grantsville, MD 21536 Full Service B&M $19,328
    Somerset Trust Company 344 Goucher Street Johnstown, PA 15905 Limited, Drive-thru $17,189
    Somerset Trust Company 3966 Lincoln Highway, Ste 101 Schellsburg, PA 15559 Full Service B&M $3,048
    Somerset Trust Company 4185 Glades Pike Somerset, PA 15501 Full Service B&M $26,468
    Somerset Trust Company 420 Main Street Berlin, PA 15530 Full Service B&M $71,759
    Somerset Trust Company 450 Schoolhouse Road Johnstown, PA 15904 Full Service B&M $807
    Somerset Trust Company 4634 National Pike Markleysburg, PA 15459 Full Service B&M $15,979
    Somerset Trust Company 500 Main Street Lilly, PA 15938 Full Service B&M $17,271
    Somerset Trust Company 5256 Us 30, Unit Fc-05 Greensburg, PA 15601 Full Service B&M $72
    Somerset Trust Company 581 Pittsburgh Rd Uniontown, PA 15401 Full Service B&M $9,519
    Somerset Trust Company 612 Logan Place Confluence, PA 15424 Full Service B&M $46,024
    Somerset Trust Company 7109 Mason Dixon Highway Meyersdale, PA 15552 Full Service B&M $16,609
    Somerset Trust Company 803 Barn Street Hooversville, PA 15936 Full Service B&M $17,892
    Somerset Trust Company 82 W. Fayette St. Uniontown, PA 15401 Full Service B&M $4,581
    Somerset Trust Company 835 East Pittsburgh Street Greensburg, PA 15601 Full Service B&M $6,336
    Somerset Trust Company 8796 Lincoln Hwy Bedford, PA 15522 Full Service B&M $37,977
    Somerset Trust Company 904 W. Crawford Avenue Connellsville, PA 15425 Full Service B&M $79,904
    Somerset Trust Company 915 Mills Drive North Huntingdon, PA 15642 Full Service Retail $1,690
    Somerset Trust Company R.D. 2, Route 601 Somerset, PA 15501 Full Service B&M $32,645

    For 2020, Somerset Trust Company had 39 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $65,961
    Net interest income $55,745
    Total noninterest income $17,997
    Gross Fiduciary activities income $3,406
    Service charges on deposit accounts $1,565
    Trading account gains and fees $0
    Additional Noninterest Income $13,026
    Pre-tax net operating income $11,167
    Securities gains (or losses, -) $1,637
    Income before extraordinary items $11,563
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,563
    Minority interest net income $0
    Net income $11,563
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,089

    Somerset Trust Company's gross interest income from loans was $65,961,000.
    Somerset Trust Company's net interest income from loans was $55,745,000.
    Somerset Trust Company's fee based income from loans was $1,565,000.
    Somerset Trust Company's net income from loans was $11,563,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,216
    Provision for credit losses $6,563
    Total noninterest expense $56,012
    Salaries and employee benefits $32,296
    Premises and equipment expense $6,792
    Additional noninterest expense $16,924
    Applicable income taxes $1,241
    Net charge-offs $1,521
    Cash dividends $3,758

    Somerset Trust Company's interest expense for loans was $10,216,000.
    Somerset Trust Company's payroll and benefits expense were $32,296,000.
    Somerset Trust Company's property, plant and equipment expenses $6,792,000.

    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 4.0%
    Nonfarm, nonresidential loans 1.0%
    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 1.1%
    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 $1,328,240
    Deposits held in domestic offices $1,328,240
    Deposits by Individuals, partnerships, and corporations $1,208,381
    Deposits by U.S. Government $234
    Deposits by States and political subdivisions in the U.S. $118,977
    Deposits by Commercial banks and other depository institutions in U.S. $648
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $129,210
    Demand deposits $72,074
    Nontransaction accounts $1,199,030
    Money market deposit accounts (MMDAs) $332,237
    Other savings deposits (excluding MMDAs) $570,046
    Total time deposits $296,746
    Total time and savings deposits $1,256,166
    Noninterest-bearing deposits $321,665
    Interest-bearing deposits $1,006,575
    Retail deposits $1,245,589
    IRAs and Keogh plan accounts $55,984
    Brokered deposits $55,152
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,610,627
    Cash & Balances due from depository institutions $68,715
    Interest-bearing balances $35,675
    Total securities $358,632
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,102,709
    Loan and leases loss allowance $16,845
    Trading account assets $0
    Bank premises and fixed assets $35,780
    Other real estate owned $985
    Goodwill and other intangibles $2,095
    All other assets $41,711

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,610,627
    Total Liabilities $1,478,973
    Total deposits $1,328,240
    Interest-bearing deposits $1,006,575
    Deposits held in domestic offices $1,328,240
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $12,643
    Trading liabilities $0
    Other borrowed funds $117,648
    Subordinated debt $0
    All other liabilities $20,442

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,102,709
    Loan and leases loss allowance $16,845
    Total loans and leases (domestic) $1,119,554
    All real estate loans $613,824
    Real estate loans in domestic offices $613,824
    Construction and development loans $31,029
    Residential 1-4 family construction $4,436
    Other construction, all land development and other land $26,593
    Loans secured by nonfarm nonresidential properties $305,614
    Nonfarm nonresidential secured by owner-occupied properties $147,941
    Commercial real estate & other non-farm, non-residential $157,673
    Multifamily residential real estate $22,811
    1-4 family residential loans $227,998
    Farmland loans $26,372
    Loans held in foreign offices $0
    Farm loans $4,350
    Commercial and industrial loans $368,189
    To non-U.S. addressees $0
    Loans to individuals $51,658
    Credit card loans $3,931
    Related Plans $7,492
    Consumer Auto Loans $14,508
    Other loans to individuals $25,727
    All other loans & leases $84,650
    Loans to foreign governments and official institutions $0
    Other loans $24,208
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $394
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4,667
    Non 1-4 family restructured loans & leases $4,667
    Total loans and leases (foreign) $0

    SOMERSET TRUST COMPANY had $1,102,709,000 of loans outstanding in 2020. $613,824,000 of loans were in real estate loans. $31,029,000 of loans were in development loans. $22,811,000 of loans were in multifamily mortgage loans. $227,998,000 of loans were in 1-4 family mortgage loans. $4,350,000 of loans were in farm loans. $3,931,000 of loans were in credit card loans. $14,508,000 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 729 $116,936 $160,406
    Nonfarm, nonresidential loans - <$100k 282 $11,608 $41,163
    Nonfarm, nonresidential loans - $100-250k 270 $34,160 $126,519
    Nonfarm, nonresidential loans - $250k-1MM 177 $71,168 $402,079
    Commercial & Industrial, US addressed loans - <$1MM 2,806 $159,821 $56,957
    Commercial & Industrial, US addressed loans - <$100k 2,213 $44,201 $19,973
    Commercial & Industrial, US addressed loans - $100-250k 368 $40,440 $109,891
    Commercial & Industrial, US addressed loans - $250k-1MM 225 $75,180 $334,133
    Farmland loans - <$1MM 116 $14,544 $125,379
    Farmland loans - <$100k 49 $2,019 $41,204
    Farmland loans - $100-250k 46 $6,710 $145,870
    Farmland loans - $250k-1MM 21 $5,815 $276,905
    Agriculture operations loans - <$1MM 183 $4,349 $23,765
    Agriculture operations loans - <$100k 168 $2,637 $15,696
    Agriculture operations loans - $100-250k 12 $870 $72,500
    Agriculture operations loans - $250k-1MM 3 $842 $280,667