Traditional Bank Mortgage Rates, Fees & Info

Mount Sterling, KY

LEI: 549300D88XVKM6DJOC77

Tax ID: 61-0284535

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

Review & Overview

Traditional Bank is a smaller bank specializing in Home Purchase and Refi loans. Traditional Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Mount Sterling, Frankfort, Louisville, and Richmond among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Traditional 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. Traditional Bank 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
Home Equity Line of Credit (HELOC)	6.27%	11/21/24
30 Year Conventional Purchase	6.91%	11/21/24
30 Year Conventional Refi	7.08%	11/21/24
30 Year Cash-out Refi	6.54%	11/21/24
30 Year FHA Purchase	7.35%	11/21/24
30 Year FHA Refi	6.27%	11/21/24
30 Year VA Purchase	5.84%	11/21/24
15 Year Conventional Purchase	6.08%	11/21/24
15 Year Conventional Refi	6.14%	11/21/24
15 Year Cash-out Refi	6.14%	11/21/24
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.

Traditional Bank Mortgage Calculator

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This is not an official calculator from Traditional Bank. 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

546

Origination Dollar Volume (All Markets)

$114,220,000

Employee count

221

Awards

Traditional Bank 30 Year Conventional Loans gold

Show all (3) 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
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	360	$88,540,000	$245,944	$1,600	5.12%
Mount Sterling, KY (FHA\|USDA\|VA)	121	$11,035,000	$91,198	$1,108	5.34%
Frankfort, KY (FHA\|USDA\|VA)	12	$4,700,000	$391,667	$2,545	5.17%
Outside of Metro Areas	22	$2,800,000	$127,273	$1,467	5.19%
LOUISVILLE, KY (FHA\|USDA\|VA)	10	$2,310,000	$231,000	$1,867	5.05%
Richmond-Berea, KY (FHA\|USDA\|VA)	12	$2,040,000	$170,000	$1,152	4.96%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	2	$1,360,000	$680,000	$0	5.55%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	1	$425,000	$425,000	$0	4.85%
Bardstown, KY (FHA\|USDA\|VA)	1	$255,000	$255,000	$1,272	5.15%
Danville, KY (FHA\|USDA\|VA)	2	$250,000	$125,000	$0	5.50%
BOWLING GREEN, KY (FHA\|USDA\|VA)	1	$245,000	$245,000	$0	5.45%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	5.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$115,000	$115,000	$4,111	4.65%

Traditional Bank's top markets include Lexington, Mount Sterling, Frankfort, Louisville, and Richmond among others.

Their top states include:

Kentucky (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Texas (FHA|USDA|VA)

Similar Lenders

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

Town Square Bank
Similarity Rank: 90

The Peoples Bank
Similarity Rank: 120

City National Bank of West Virginia
Similarity Rank: 190

Bank of Lexington, Inc.
Similarity Rank: 324

First Harrison Bank
Similarity Rank: 357

CLASS ACT FEDERAL CREDIT UNION
Similarity Rank: 357

Peoples Exchange Bank
Similarity Rank: 357

Abound Federal Credit Union
Similarity Rank: 375

MEMBERS HERITAGE Credit Union
Similarity Rank: 396

Peoples Bank
Similarity Rank: 455

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	546	$114,220,000	$209,194	$1,452	5.17%

For 2018, Traditional Bank's most frequently originated type of loan was Conventional, with 546 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	302	$67,650,000	$224,007	$1,635	5.12%
Refi	200	$43,400,000	$217,000	$1,282	5.25%
Other	23	$1,965,000	$85,435	$1,302	5.18%
Home Improvement	21	$1,205,000	$57,381	$1,051	5.14%

For 2018, Traditional Bank's most frequently cited loan purpose was Home Purchase, with 302 originations. The 2nd most popular reason was Refi, with 200 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	159	$31,315,000	$196,950	$1,506	4.97%
10 Year	137	$35,625,000	$260,036	$978	5.23%
Other	62	$12,260,000	$197,742	$1,104	5.30%
20 Year	58	$11,460,000	$197,586	$1,348	5.14%
1 Year	49	$6,225,000	$127,041	$1,991	5.19%
15 Year	38	$10,790,000	$283,947	$1,447	5.15%
5 Year	36	$4,440,000	$123,333	$1,307	5.61%
3 Year	4	$1,040,000	$260,000	$0	6.30%
30+ year	3	$1,065,000	$355,000	$4,233	4.95%

For 2018, Traditional Bank's most frequently cited loan duration was 30 Year, with 159 originations. The 2nd most popular length was 10 Year, with 137 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	239	$39,035,000	$163,326
$1k-2k	9	$3,295,000	$366,111

Traditional Bank's average total fees were $1,506, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 239 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	286	$52,990,000	$185,280
4-5%	239	$60,265,000	$252,155
6-7%	18	$860,000	$47,778
7-8%	2	$90,000	$45,000
Over 8%	1	$15,000	$15,000

During 2018, Traditional Bank's average interest rate for loans was 4.97%, while their most frequently originated rate bucket for loans was 5-6%, with 286 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	218	$12,400,000	$56,881	$1,137	5.32%
$100k-200k	162	$22,400,000	$138,272	$1,448	5.14%
$200k-400k	110	$30,440,000	$276,727	$1,718	4.99%
$400k-600k	23	$10,515,000	$457,174	$2,459	5.02%
$600k-1MM	20	$14,630,000	$731,500	$2,495	5.17%
$1MM+	13	$23,835,000	$1,833,462	$913	5.05%

2018 saw Traditional Bank place emphasis on $100,000 or less loans with 218 originations, totaling $12,400,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	130	$11,490,000	$88,385	$1,174	5.32%
$50k-75k	79	$10,545,000	$133,481	$1,390	5.12%
$100k-150k	69	$12,965,000	$187,899	$1,605	5.05%
$75k-100k	45	$6,925,000	$153,889	$1,521	5.06%
$150k-250k	32	$7,030,000	$219,688	$1,661	5.00%
$250k+	22	$8,500,000	$386,364	$2,168	5.02%

Traditional Bank lent most frequently to those with incomes in the $50k or less range, with 130 originations. The second most popular income band? $50k-75k, with 79 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	59	$7,425,000	$125,847	$1,366	5.00%
20-30%	52	$8,260,000	$158,846	$1,415	5.10%
<20%	31	$6,105,000	$196,935	$1,412	5.02%
50-60%	14	$2,170,000	$155,000	$1,461	5.06%
42%	11	$2,695,000	$245,000	$1,407	5.15%
41%	11	$2,325,000	$211,364	$1,610	5.13%
43%	10	$1,970,000	$197,000	$1,785	4.93%
38%	10	$1,840,000	$184,000	$1,738	4.91%
>60%	9	$2,165,000	$240,556	$1,718	5.14%
39%	7	$1,255,000	$179,286	$1,208	5.15%
40%	6	$940,000	$156,667	$1,751	5.07%
44%	6	$1,680,000	$280,000	$1,474	5.04%
47%	5	$1,065,000	$213,000	$1,587	5.03%
46%	5	$725,000	$145,000	$1,404	4.83%
45%	4	$260,000	$65,000	$1,075	5.05%
37%	3	$375,000	$125,000	$1,784	4.78%
48%	3	$335,000	$111,667	$1,061	4.83%
36%	3	$775,000	$258,333	$1,208	4.84%
49%	2	$570,000	$285,000	$1,493	4.95%

Traditional Bank lent most frequently to those with DTI ratios of 30-36%, with 59 originations. The next most common DTI ratio? 20-30%, with 52 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	168	$56,460,000	$336,071	$0	5.22%
White	345	$51,635,000	$149,667	$1,434	5.16%
Not provided	18	$4,230,000	$235,000	$1,766	5.10%
Asian	9	$1,035,000	$115,000	$1,679	5.22%
Black	3	$625,000	$208,333	$1,858	4.92%
American Indian	2	$170,000	$85,000	$1,459	4.84%
Asian Indian	1	$65,000	$65,000	$0	5.15%

Approval Rates

Total approvals of all applications
90.16%

Traditional Bank has an average approval rate.

Pick Rate

Approvals leading to origination
89.19%

Traditional Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
0.0	1	$585,000	$585,000
267.68	1	$15,000	$15,000
57.68	1	$5,000	$5,000
NA	543	$113,615,000	$209,236

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	28	$29,140,000	$1,040,714
Single Family (1-4 Units):Manufactured	39	$1,835,000	$47,051
Single Family (1-4 Units):Site-Built	479	$83,245,000	$173,789

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	51	$4,445,000	$87,157	$1,135	5.25%
40-60%	62	$13,530,000	$218,226	$1,338	5.26%
60-80%	184	$50,950,000	$276,902	$1,498	5.20%
80-100%	211	$41,295,000	$195,711	$1,565	5.08%
Over 100%	2	$280,000	$140,000	$0	4.75%
Under 20%	30	$3,530,000	$117,667	$1,233	5.25%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Traditional Bank, Inc.	100 Walnut Street Frenchburg, KY 40322	Full Service B&M	$36,516
Traditional Bank, Inc.	1378 Indian Mound Drive Mount Sterling, KY 40353	Full Service B&M	$9,300
Traditional Bank, Inc.	163 W. Short St. Suite 100 Lexington, KY 40507	Full Service B&M	$148,905
Traditional Bank, Inc.	2106 Rocky Drive Paris, KY 40361	Full Service B&M	$224
Traditional Bank, Inc.	2197 Nicholasville Road Lexington, KY 40503	Full Service B&M	$26,913
Traditional Bank, Inc.	2801 Palumbo Drive Lexington, KY 40509	Full Service B&M	$227,163
Traditional Bank, Inc.	3333 Lexington Road Paris, KY 40361	Full Service B&M	$99,661
Traditional Bank, Inc.	3353 Tates Creek Road Lexington, KY 40502	Full Service B&M	$68,491
Traditional Bank, Inc.	3720 Palomar Centre Dr. Lexington, KY 40513	Full Service B&M	$113,932
Traditional Bank, Inc.	49 W. Main Street Mount Sterling, KY 40353	Full Service B&M	$304,843
Traditional Bank, Inc.	637 Maysville Road Mount Sterling, KY 40353	Full Service B&M	$14,025
Traditional Bank, Inc.	7450 Indian Mound Drive Mount Sterling, KY 40353	Full Service B&M	$7,470
Traditional Bank, Inc.	7880 Main Street Jeffersonville, KY 40337	Full Service B&M	$10,504
Traditional Bank, Inc.	875 Colby Rd. Winchester, KY 40391	Full Service B&M	$151,526

For 2018, Traditional Bank had 14 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$59,213
Net interest income	$47,340
Total noninterest income	$5,613
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,163
Trading account gains and fees	$0
Additional Noninterest Income	$3,450
Pre-tax net operating income	$24,070
Securities gains (or losses, -)	$3
Income before extraordinary items	$24,073
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$24,073
Minority interest net income	$0
Net income	$24,073
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$24,070

Traditional Bank's gross interest income from loans was $59,213,000.
Traditional Bank's net interest income from loans was $47,340,000.
Traditional Bank's fee based income from loans was $2,163,000.
Traditional Bank's net income from loans was $24,073,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$11,873
Provision for credit losses	$944
Total noninterest expense	$27,939
Salaries and employee benefits	$16,225
Premises and equipment expense	$3,618
Additional noninterest expense	$8,096
Applicable income taxes	$0
Net charge-offs	$620
Cash dividends	$14,728

Traditional Bank's interest expense for loans was $11,873,000.
Traditional Bank's payroll and benefits expense were $16,225,000.
Traditional Bank's property, plant and equipment expenses $3,618,000.

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	1.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
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	$1,277,925
Deposits held in domestic offices	$1,277,925
Deposits by Individuals, partnerships, and corporations	$1,071,156
Deposits by U.S. Government	$2,001
Deposits by States and political subdivisions in the U.S.	$163,585
Deposits by Commercial banks and other depository institutions in U.S.	$41,183
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$212,307
Demand deposits	$212,307
Nontransaction accounts	$1,065,618
Money market deposit accounts (MMDAs)	$712,312
Other savings deposits (excluding MMDAs)	$67,441
Total time deposits	$285,866
Total time and savings deposits	$1,065,618
Noninterest-bearing deposits	$72,468
Interest-bearing deposits	$1,205,457
Retail deposits	$1,107,284
IRAs and Keogh plan accounts	$38,735
Brokered deposits	$82,959
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,522,837
Cash & Balances due from depository institutions	$73,716
Interest-bearing balances	$48,143
Total securities	$340,554
Federal funds sold & reverse repurchase	$346
Net loans and leases	$1,058,889
Loan and leases loss allowance	$12,697
Trading account assets	$0
Bank premises and fixed assets	$12,029
Other real estate owned	$205
Goodwill and other intangibles	$0
All other assets	$37,098

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,522,837
Total Liabilities	$1,372,420
Total deposits	$1,277,925
Interest-bearing deposits	$1,205,457
Deposits held in domestic offices	$1,277,925
% insured (estimated)	$75
Federal funds purchased and repurchase agreements	$38,876
Trading liabilities	$0
Other borrowed funds	$47,701
Subordinated debt	$0
All other liabilities	$7,918

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,058,889
Loan and leases loss allowance	$12,697
Total loans and leases (domestic)	$1,071,586
All real estate loans	$966,425
Real estate loans in domestic offices	$966,425
Construction and development loans	$107,981
Residential 1-4 family construction	$45,386
Other construction, all land development and other land	$62,595
Loans secured by nonfarm nonresidential properties	$357,477
Nonfarm nonresidential secured by owner-occupied properties	$169,538
Commercial real estate & other non-farm, non-residential	$187,939
Multifamily residential real estate	$25,290
1-4 family residential loans	$424,808
Farmland loans	$50,869
Loans held in foreign offices	$0
Farm loans	$6,956
Commercial and industrial loans	$80,427
To non-U.S. addressees	$0
Loans to individuals	$6,482
Credit card loans	$0
Related Plans	$44
Consumer Auto Loans	$977
Other loans to individuals	$5,461
All other loans & leases	$11,296
Loans to foreign governments and official institutions	$0
Other loans	$5,075
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$5,013
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$306
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Traditional Bank had $1,058,889,000 of loans outstanding in 2018. $966,425,000 of loans were in real estate loans. $107,981,000 of loans were in development loans. $25,290,000 of loans were in multifamily mortgage loans. $424,808,000 of loans were in 1-4 family mortgage loans. $6,956,000 of loans were in farm loans. $0 of loans were in credit card loans. $977,000 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	536	$130,604	$243,664
Nonfarm, nonresidential loans - <$100k	99	$4,265	$43,081
Nonfarm, nonresidential loans - $100-250k	164	$19,211	$117,140
Nonfarm, nonresidential loans - $250k-1MM	273	$107,128	$392,410
Commercial & Industrial, US addressed loans - <$1MM	744	$51,781	$69,598
Commercial & Industrial, US addressed loans - <$100k	489	$11,436	$23,387
Commercial & Industrial, US addressed loans - $100-250k	135	$11,903	$88,170
Commercial & Industrial, US addressed loans - $250k-1MM	120	$28,442	$237,017
Farmland loans - <$1MM	141	$15,921	$112,915
Farmland loans - <$100k	92	$3,375	$36,685
Farmland loans - $100-250k	14	$2,691	$192,214
Farmland loans - $250k-1MM	35	$9,855	$281,571
Agriculture operations loans - <$1MM	158	$4,290	$27,152
Agriculture operations loans - <$100k	150	$3,110	$20,733
Agriculture operations loans - $100-250k	3	$194	$64,667
Agriculture operations loans - $250k-1MM	5	$986	$197,200