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™
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    • 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. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Pittsburgh, Somerset, Johnstown, Indiana, and Cumberland among others. We have data for 23 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.85% 4/14/24
    30 Year Conventional Refi 6.82% 4/14/24
    30 Year Cash-out Refi 6.53% 4/14/24
    30 Year USDA Purchase 7.01% 4/14/24
    15 Year Conventional Purchase 6.15% 4/14/24
    15 Year Conventional Refi 5.52% 4/14/24
    15 Year Cash-out Refi 5.52% 4/14/24
    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

    1,198

    Origination Dollar Volume (All Markets)

    $148,300,000

    Employee count

    441 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) 506 $70,210,000 $138,755 $2,342 3.61%
    Somerset, PA (FHA|USDA|VA) 412 $42,350,000 $102,791 $1,975 3.43%
    Outside of Metro Areas 144 $19,750,000 $137,153 $2,439 3.54%
    JOHNSTOWN, PA (FHA|USDA|VA) 88 $7,900,000 $89,773 $2,072 3.33%
    Indiana, PA (FHA|USDA|VA) 9 $1,575,000 $175,000 $2,122 3.62%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 9 $1,005,000 $111,667 $1,680 3.60%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $620,000 $310,000 $3,238 3.06%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $585,000 $585,000 $0 4.55%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $555,000 $185,000 $0 4.88%
    LANCASTER, PA (FHA|USDA|VA) 3 $555,000 $185,000 $3,368 3.08%
    ALTOONA, PA (FHA|USDA|VA) 5 $495,000 $99,000 $1,865 4.26%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $480,000 $240,000 $4,425 3.38%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $390,000 $195,000 $3,615 3.99%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $355,000 $355,000 $3,186 3.00%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $245,000 $245,000 $2,618 2.63%
    Salem, OH (FHA|USDA|VA) 2 $240,000 $120,000 $2,892 3.69%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.25%
    Huntingdon, PA (FHA|USDA|VA) 1 $175,000 $175,000 $3,366 2.38%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $175,000 $175,000 $2,167 2.88%
    ERIE, PA (FHA|USDA|VA) 2 $170,000 $85,000 $2,690 4.09%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,786 3.75%
    Montrose, CO (FHA|USDA|VA) 1 $105,000 $105,000 $207 3.49%
    SEBRING-AVON PARK, FL (FHA|USDA|VA) 1 $75,000 $75,000 $2,727 4.25%
    Somerset Trust Company's top markets include Pittsburgh, Somerset, Johnstown, Indiana, and Cumberland among others.

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

    TRI BORO
    Similarity Rank: 208
    FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION
    Similarity Rank: 280
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 414
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 524
    Standard Bank, PaSB
    Similarity Rank: 584
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 639
    Clear Mountain Bank
    Similarity Rank: 928
    AmeriServ Financial Bank
    Similarity Rank: 1260
    Community Bank
    Similarity Rank: 1260
    The Farmers National Bank of Emlenton
    Similarity Rank: 1476

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,130 $141,030,000 $124,805 $2,045 3.54%
    USDA 67 $7,205,000 $107,537 $4,367 3.25%
    FHA 1 $65,000 $65,000 $0 4.59%

    For 2021, Somerset Trust Company's most frequently originated type of loan was Conventional, with 1,130 originations. Their 2nd most popular type was USDA, with 67 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 472 $69,330,000 $146,886 $3,681 3.75%
    Refi 378 $48,780,000 $129,048 $1,775 3.27%
    Other 130 $6,130,000 $47,154 $123 3.85%
    Cash Out Refi 116 $17,010,000 $146,638 $2,993 2.96%
    Home Improvement 102 $7,050,000 $69,118 $332 3.63%

    For 2021, Somerset Trust Company's most frequently cited loan purpose was Home Purchase, with 472 originations. The 2nd most popular reason was Refi, with 378 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 385 $42,935,000 $111,519 $1,964 3.63%
    30 Year 301 $44,445,000 $147,658 $3,604 3.29%
    10 Year 231 $15,965,000 $69,113 $562 3.34%
    20 Year 127 $23,435,000 $184,528 $2,724 3.84%
    Other 75 $12,285,000 $163,800 $2,303 3.80%
    5 Year 54 $2,260,000 $41,852 $30 3.45%
    30+ year 18 $4,710,000 $261,667 $6,357 4.00%
    3 Year 4 $720,000 $180,000 $0 3.00%
    1 Year 3 $1,545,000 $515,000 $0 4.25%

    For 2021, Somerset Trust Company's most frequently cited loan duration was 15 Year, with 385 originations. The 2nd most popular length was 30 Year, with 301 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 967 $107,305,000 $110,967
    $1k-2k 18 $2,650,000 $147,222
    $2k-3k 12 $3,580,000 $298,333
    $3k-4k 2 $660,000 $330,000
    $5k+ 1 $245,000 $245,000

    Somerset Trust Company's average total fees were $3,604, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 967 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 440 $54,810,000 $124,568
    4-5% 278 $40,330,000 $145,072
    2.5-3% 244 $25,220,000 $103,361
    <2.5% 189 $24,755,000 $130,979
    5-6% 30 $2,320,000 $77,333
    6-7% 7 $345,000 $49,286
    7-8% 7 $295,000 $42,143
    Over 8% 3 $225,000 $75,000

    During 2021, Somerset Trust Company's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 3-4%, with 440 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 619 $33,655,000 $54,370 $1,167 3.70%
    $100k-200k 404 $56,330,000 $139,431 $2,943 3.28%
    $200k-400k 149 $39,535,000 $265,336 $4,076 3.36%
    $400k-600k 18 $8,700,000 $483,333 $5,354 3.89%
    $1MM+ 5 $7,925,000 $1,585,000 $0 4.14%
    $600k-1MM 3 $2,155,000 $718,333 $0 4.07%

    2021 saw Somerset Trust Company place emphasis on $100,000 or less loans with 619 originations, totaling $33,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 287 $29,525,000 $102,875 $2,185 3.40%
    $50k or less 250 $18,270,000 $73,080 $2,040 3.55%
    $100k-150k 202 $27,830,000 $137,772 $2,373 3.28%
    $75k-100k 202 $23,040,000 $114,059 $2,124 3.46%
    $150k-250k 88 $14,790,000 $168,068 $2,501 3.20%
    $250k+ 30 $7,230,000 $241,000 $2,691 3.46%

    Somerset Trust Company lent most frequently to those with incomes in the $50k-75k range, with 287 originations. The second most popular income band? $50k or less, with 250 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 332 $36,060,000 $108,614 $2,049 3.39%
    30-36% 221 $24,965,000 $112,964 $2,261 3.40%
    <20% 171 $13,965,000 $81,667 $1,875 3.06%
    36% 47 $5,985,000 $127,340 $2,142 3.56%
    38% 40 $5,100,000 $127,500 $2,164 3.39%
    42% 38 $4,300,000 $113,158 $1,691 3.85%
    39% 38 $4,600,000 $121,053 $2,386 3.45%
    37% 36 $4,450,000 $123,611 $2,207 3.41%
    41% 34 $4,410,000 $129,706 $2,327 3.64%
    40% 24 $3,310,000 $137,917 $2,197 3.43%
    >60% 22 $3,000,000 $136,364 $3,888 4.67%
    44% 18 $2,320,000 $128,889 $3,446 3.28%
    43% 16 $2,860,000 $178,750 $4,349 3.25%
    47% 14 $2,480,000 $177,143 $3,712 3.60%
    48% 9 $1,515,000 $168,333 $3,253 3.03%
    50-60% 9 $845,000 $93,889 $0 4.77%
    45% 8 $1,240,000 $155,000 $3,687 3.42%
    49% 5 $1,245,000 $249,000 $3,891 3.93%
    46% 4 $880,000 $220,000 $3,882 2.81%

    Somerset Trust Company lent most frequently to those with DTI ratios of 20-30%, with 332 originations. The next most common DTI ratio? 30-36%, with 221 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,045 $117,885,000 $112,809 $2,161 3.43%
    Not applicable 102 $22,800,000 $223,529 $0 4.59%
    Not provided 41 $6,155,000 $150,122 $2,972 3.16%
    Asian 5 $1,015,000 $203,000 $3,224 3.32%
    Black 4 $310,000 $77,500 $1,941 3.28%
    Native Hawaiian or Islander 1 $135,000 $135,000 $4,756 3.50%

    Approval Rates

    Total approvals of all applications
    91.35%

    Somerset Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.48%

    Somerset Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    101.5 1 $35,000 $35,000
    104.6 1 $25,000 $25,000
    107.7 1 $35,000 $35,000
    2.5 1 $95,000 $95,000
    252.5 2 $50,000 $25,000
    255.6 1 $55,000 $55,000
    NA 1,191 $148,005,000 $124,270

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,198 $148,300,000 $123,790

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 164 $10,730,000 $65,427 $778 3.45%
    40-60% 181 $21,695,000 $119,862 $2,111 3.27%
    60-80% 391 $63,525,000 $162,468 $2,599 3.58%
    80-100% 347 $48,125,000 $138,689 $3,288 3.55%
    Over 100% 2 $200,000 $100,000 $0 4.63%
    Under 20% 111 $3,945,000 $35,541 $83 3.69%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Synergy One Lending, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Synergy One Lending, Inc. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Somerset Trust Company 100 Quaker Church Road Perryopolis, PA 15473 Full Service B&M $6,520
    Somerset Trust Company 116 Market Street Johnstown, PA 15901 Full Service B&M $63,498
    Somerset Trust Company 117 S. Walnut St. Ligonier, PA 15658 Full Service B&M $1,749
    Somerset Trust Company 1176 National Pike Hopwood, PA 15445 Full Service B&M $18,159
    Somerset Trust Company 12120 Us 30 North Huntingdon, PA 15642 Full Service B&M $20,236
    Somerset Trust Company 1416 Scalp Avenue Johnstown, PA 15904 Full Service B&M $91,727
    Somerset Trust Company 1446 County Line Rd Champion, PA 15622 Full Service B&M $35,659
    Somerset Trust Company 1450 Morrell Avenue Connellsville, PA 15425 Full Service Retail $14,379
    Somerset Trust Company 151 Center Street Meyersdale, PA 15552 Full Service B&M $37,561
    Somerset Trust Company 151 West Main Street Somerset, PA 15501 Full Service B&M $422,984
    Somerset Trust Company 1513 Scalp Avenue Johnstown, PA 15904 Full Service B&M $2,483
    Somerset Trust Company 157 Pittsburgh St. Scottdale, PA 15683 Full Service B&M $10,833
    Somerset Trust Company 161 12th Street New Florence, PA 15944 Full Service B&M $7,256
    Somerset Trust Company 1739 Lyter Drive Johnstown, PA 15905 Full Service B&M $20,567
    Somerset Trust Company 2028 North Center Ave Somerset, PA 15501 Full Service Retail $14,496
    Somerset Trust Company 2095 Quaker Valley Road Fishertown, PA 15539 Full Service Retail $28,502
    Somerset Trust Company 210 Ohio Street Boswell, PA 15531 Full Service Retail $16,667
    Somerset Trust Company 2100 Summit Ridge Plaza Mount Pleasant, PA 15666 Full Service Retail $14,409
    Somerset Trust Company 228 W. Main Street Ligonier, PA 15658 Full Service B&M $67,442
    Somerset Trust Company 232 Pittsburgh Street Connellsville, PA 15425 Full Service B&M $15,174
    Somerset Trust Company 250 South 3rd Street Youngwood, PA 15697 Full Service Retail $6,595
    Somerset Trust Company 2690 William Penn Ave Johnstown, PA 15909 Full Service B&M $26,173
    Somerset Trust Company 3 South Broadway Street Frostburg, MD 21532 Full Service B&M $1,200
    Somerset Trust Company 3245 Chestnut Ridge Road Grantsville, MD 21536 Full Service B&M $22,967
    Somerset Trust Company 344 Goucher Street Johnstown, PA 15905 Limited, Drive-thru $21,295
    Somerset Trust Company 351 E Main St Frostburg, MD 21532 Full Service B&M $1,303
    Somerset Trust Company 3966 Lincoln Highway, Ste 101 Schellsburg, PA 15559 Full Service B&M $6,422
    Somerset Trust Company 4185 Glades Pike Somerset, PA 15501 Full Service B&M $31,137
    Somerset Trust Company 420 Main Street Berlin, PA 15530 Full Service B&M $82,746
    Somerset Trust Company 450 Schoolhouse Road Johnstown, PA 15904 Full Service B&M $725
    Somerset Trust Company 4634 National Pike Markleysburg, PA 15459 Full Service B&M $22,285
    Somerset Trust Company 500 Main Street Lilly, PA 15938 Full Service B&M $18,269
    Somerset Trust Company 5256 Us 30, Unit Fc-05 Greensburg, PA 15601 Full Service B&M $137
    Somerset Trust Company 581 Pittsburgh Rd Uniontown, PA 15401 Full Service B&M $12,787
    Somerset Trust Company 612 Logan Place Confluence, PA 15424 Full Service B&M $51,482
    Somerset Trust Company 7109 Mason Dixon Highway Meyersdale, PA 15552 Full Service B&M $24,456
    Somerset Trust Company 803 Barn Street Hooversville, PA 15936 Full Service B&M $21,406
    Somerset Trust Company 82 W. Fayette St. Uniontown, PA 15401 Full Service B&M $16,810
    Somerset Trust Company 835 East Pittsburgh Street Greensburg, PA 15601 Full Service B&M $33,797
    Somerset Trust Company 8796 Lincoln Hwy Bedford, PA 15522 Full Service B&M $45,815
    Somerset Trust Company 904 W. Crawford Avenue Connellsville, PA 15425 Full Service B&M $93,164
    Somerset Trust Company 915 Mills Drive North Huntingdon, PA 15642 Full Service Retail $1,667
    Somerset Trust Company R.D. 2, Route 601 Somerset, PA 15501 Full Service B&M $41,285

    For 2021, Somerset Trust Company had 43 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $69,037
    Net interest income $61,833
    Total noninterest income $18,237
    Gross Fiduciary activities income $3,992
    Service charges on deposit accounts $1,758
    Trading account gains and fees $0
    Additional Noninterest Income $12,487
    Pre-tax net operating income $15,590
    Securities gains (or losses, -) $3
    Income before extraordinary items $13,983
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,983
    Minority interest net income $0
    Net income $13,983
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,980

    Somerset Trust Company's gross interest income from loans was $69,037,000.
    Somerset Trust Company's net interest income from loans was $61,833,000.
    Somerset Trust Company's fee based income from loans was $1,758,000.
    Somerset Trust Company's net income from loans was $13,983,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,204
    Provision for credit losses $4,142
    Total noninterest expense $60,338
    Salaries and employee benefits $33,755
    Premises and equipment expense $7,553
    Additional noninterest expense $19,030
    Applicable income taxes $1,610
    Net charge-offs $695
    Cash dividends $3,859

    Somerset Trust Company's interest expense for loans was $7,204,000.
    Somerset Trust Company's payroll and benefits expense were $33,755,000.
    Somerset Trust Company's property, plant and equipment expenses $7,553,000.

    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 3.0%
    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 1.0%
    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 $1,586,918
    Deposits held in domestic offices $1,586,918
    Deposits by Individuals, partnerships, and corporations $1,399,208
    Deposits by U.S. Government $217
    Deposits by States and political subdivisions in the U.S. $186,520
    Deposits by Commercial banks and other depository institutions in U.S. $973
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $159,540
    Demand deposits $86,321
    Nontransaction accounts $1,427,378
    Money market deposit accounts (MMDAs) $450,437
    Other savings deposits (excluding MMDAs) $725,982
    Total time deposits $250,959
    Total time and savings deposits $1,500,597
    Noninterest-bearing deposits $404,869
    Interest-bearing deposits $1,182,049
    Retail deposits $1,520,280
    IRAs and Keogh plan accounts $56,534
    Brokered deposits $31,270
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,866,665
    Cash & Balances due from depository institutions $150,878
    Interest-bearing balances $127,484
    Total securities $519,304
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,112,795
    Loan and leases loss allowance $20,291
    Trading account assets $0
    Bank premises and fixed assets $38,868
    Other real estate owned $30
    Goodwill and other intangibles $2,556
    All other assets $42,234

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,866,665
    Total Liabilities $1,726,014
    Total deposits $1,586,918
    Interest-bearing deposits $1,182,049
    Deposits held in domestic offices $1,586,918
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $22,656
    Trading liabilities $0
    Other borrowed funds $97,648
    Subordinated debt $0
    All other liabilities $18,792

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,112,795
    Loan and leases loss allowance $20,291
    Total loans and leases (domestic) $1,133,086
    All real estate loans $680,893
    Real estate loans in domestic offices $680,893
    Construction and development loans $42,524
    Residential 1-4 family construction $8,317
    Other construction, all land development and other land $34,207
    Loans secured by nonfarm nonresidential properties $316,131
    Nonfarm nonresidential secured by owner-occupied properties $149,297
    Commercial real estate & other non-farm, non-residential $166,834
    Multifamily residential real estate $30,651
    1-4 family residential loans $264,287
    Farmland loans $27,300
    Loans held in foreign offices $0
    Farm loans $4,688
    Commercial and industrial loans $340,341
    To non-U.S. addressees $0
    Loans to individuals $56,497
    Credit card loans $3,945
    Related Plans $7,148
    Consumer Auto Loans $13,626
    Other loans to individuals $31,778
    All other loans & leases $52,393
    Loans to foreign governments and official institutions $0
    Other loans $7,239
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $358
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $10,102
    Non 1-4 family restructured loans & leases $10,102
    Total loans and leases (foreign) $0

    SOMERSET TRUST COMPANY had $1,112,795,000 of loans outstanding in 2021. $680,893,000 of loans were in real estate loans. $42,524,000 of loans were in development loans. $30,651,000 of loans were in multifamily mortgage loans. $264,287,000 of loans were in 1-4 family mortgage loans. $4,688,000 of loans were in farm loans. $3,945,000 of loans were in credit card loans. $13,626,000 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 772 $121,509 $157,395
    Nonfarm, nonresidential loans - <$100k 295 $12,182 $41,295
    Nonfarm, nonresidential loans - $100-250k 286 $35,509 $124,157
    Nonfarm, nonresidential loans - $250k-1MM 191 $73,818 $386,482
    Commercial & Industrial, US addressed loans - <$1MM 2,137 $120,507 $56,391
    Commercial & Industrial, US addressed loans - <$100k 1,649 $30,170 $18,296
    Commercial & Industrial, US addressed loans - $100-250k 287 $27,867 $97,098
    Commercial & Industrial, US addressed loans - $250k-1MM 201 $62,470 $310,796
    Farmland loans - <$1MM 122 $15,535 $127,336
    Farmland loans - <$100k 46 $1,740 $37,826
    Farmland loans - $100-250k 52 $7,391 $142,135
    Farmland loans - $250k-1MM 24 $6,404 $266,833
    Agriculture operations loans - <$1MM 173 $4,688 $27,098
    Agriculture operations loans - <$100k 158 $2,605 $16,487
    Agriculture operations loans - $100-250k 11 $1,010 $91,818
    Agriculture operations loans - $250k-1MM 4 $1,073 $268,250