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, Frankfort, Mount Sterling, Richmond, and Louisville 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%	4/21/24
30 Year Conventional Purchase	6.91%	4/21/24
30 Year Conventional Refi	7.08%	4/21/24
30 Year Cash-out Refi	6.54%	4/21/24
30 Year FHA Purchase	7.35%	4/21/24
30 Year FHA Refi	6.27%	4/21/24
30 Year VA Purchase	5.84%	4/21/24
15 Year Conventional Purchase	6.08%	4/21/24
15 Year Conventional Refi	6.14%	4/21/24
15 Year Cash-out Refi	6.14%	4/21/24
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

Purchase Price:

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% Deposit:

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

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

560

Origination Dollar Volume (All Markets)

$124,820,000

Employee count

227

Awards

Traditional Bank 30 Year Conventional Loans gold

Show all (4) 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)	356	$93,960,000	$263,933	$1,568	5.20%
Frankfort, KY (FHA\|USDA\|VA)	47	$11,685,000	$248,617	$1,257	5.04%
Mount Sterling, KY (FHA\|USDA\|VA)	110	$10,780,000	$98,000	$1,225	5.19%
Outside of Metro Areas	26	$3,310,000	$127,308	$1,127	5.05%
Richmond-Berea, KY (FHA\|USDA\|VA)	6	$1,460,000	$243,333	$1,153	5.19%
LOUISVILLE, KY (FHA\|USDA\|VA)	4	$1,040,000	$260,000	$1,662	4.83%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	2	$770,000	$385,000	$0	5.20%
Danville, KY (FHA\|USDA\|VA)	4	$500,000	$125,000	$0	5.59%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	1	$425,000	$425,000	$0	5.25%
London, KY (FHA\|USDA\|VA)	1	$385,000	$385,000	$0	4.65%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$325,000	$325,000	$0	5.40%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	5.55%
Somerset, KY (FHA\|USDA\|VA)	1	$55,000	$55,000	$1,088	5.45%

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

Their top states include:

Kentucky (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Alabama (FHA|USDA|VA)

Florida (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.

Advanz Federal Credit Union
Similarity Rank: 360

Peoples Exchange Bank
Similarity Rank: 400

The Peoples Bank
Similarity Rank: 400

MEMBERS HERITAGE Credit Union
Similarity Rank: 640

TRANSCEND
Similarity Rank: 702

MORTGAGE SUPPLIERS, INC.
Similarity Rank: 714

Kentucky Bank
Similarity Rank: 744

Abound Federal Credit Union
Similarity Rank: 752

COMMONWEALTH
Similarity Rank: 768

Traditional Bank, Inc.
Similarity Rank: 1040

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	560	$124,820,000	$222,893	$1,403	5.18%

For 2019, Traditional Bank's most frequently originated type of loan was Conventional, with 560 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	299	$62,615,000	$209,415	$1,568	5.26%
Refi	206	$57,260,000	$277,961	$1,297	5.05%
Home Improvement	39	$3,245,000	$83,205	$982	5.40%
Other	16	$1,700,000	$106,250	$1,281	4.79%

For 2019, Traditional Bank's most frequently cited loan purpose was Home Purchase, with 299 originations. The 2nd most popular reason was Refi, with 206 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	165	$37,825,000	$229,242	$1,495	4.87%
10 Year	162	$55,520,000	$342,716	$1,119	5.27%
1 Year	58	$8,880,000	$153,103	$1,657	5.56%
Other	56	$6,840,000	$122,143	$1,376	5.30%
20 Year	46	$7,100,000	$154,348	$1,205	5.23%
15 Year	35	$3,675,000	$105,000	$1,031	5.00%
5 Year	33	$3,895,000	$118,030	$941	5.58%
3 Year	4	$840,000	$210,000	$0	5.29%
30+ year	1	$245,000	$245,000	$2,759	4.50%

For 2019, Traditional Bank's most frequently cited loan duration was 30 Year, with 165 originations. The 2nd most popular length was 10 Year, with 162 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	236	$41,310,000	$175,042
$1k-2k	7	$2,915,000	$416,429
$2k-3k	1	$965,000	$965,000

Traditional Bank's average total fees were $1,495, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 236 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	307	$63,125,000	$205,619
4-5%	241	$61,095,000	$253,506
6-7%	10	$560,000	$56,000
7-8%	2	$40,000	$20,000

During 2019, Traditional Bank's average interest rate for loans was 4.87%, while their most frequently originated rate bucket for loans was 5-6%, with 307 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	214	$12,330,000	$57,617	$1,133	5.31%
$100k-200k	184	$25,540,000	$138,804	$1,295	5.16%
$200k-400k	99	$27,355,000	$276,313	$1,571	5.01%
$400k-600k	33	$16,115,000	$488,333	$2,346	5.04%
$600k-1MM	20	$15,440,000	$772,000	$2,237	5.12%
$1MM+	10	$28,040,000	$2,804,000	$3,119	5.03%

2019 saw Traditional Bank place emphasis on $100,000 or less loans with 214 originations, totaling $12,330,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	120	$11,920,000	$99,333	$1,215	5.20%
$50k-75k	71	$8,965,000	$126,268	$1,290	5.06%
$100k-150k	60	$9,690,000	$161,500	$1,355	5.07%
$75k-100k	55	$8,035,000	$146,091	$1,492	4.95%
$150k-250k	40	$11,320,000	$283,000	$1,786	5.07%
$250k+	24	$9,680,000	$403,333	$1,811	5.02%

Traditional Bank lent most frequently to those with incomes in the $50k or less range, with 120 originations. The second most popular income band? $50k-75k, with 71 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	64	$11,370,000	$177,656	$1,340	4.87%
30-36%	39	$7,525,000	$192,949	$1,348	4.95%
<20%	26	$4,850,000	$186,538	$1,261	4.88%
50-60%	17	$2,325,000	$136,765	$1,361	4.73%
42%	13	$2,375,000	$182,692	$1,481	4.86%
39%	13	$2,215,000	$170,385	$1,328	4.86%
43%	13	$2,185,000	$168,077	$1,710	5.18%
>60%	11	$3,705,000	$336,818	$2,135	4.85%
37%	9	$585,000	$65,000	$1,325	4.92%
41%	9	$2,455,000	$272,778	$1,244	4.66%
36%	6	$1,030,000	$171,667	$1,444	4.98%
38%	4	$660,000	$165,000	$1,486	4.81%
47%	4	$520,000	$130,000	$1,206	5.14%
44%	4	$370,000	$92,500	$1,425	4.76%
46%	3	$505,000	$168,333	$1,346	4.47%
40%	3	$565,000	$188,333	$1,096	5.37%
49%	3	$1,205,000	$401,667	$1,830	5.23%
48%	2	$280,000	$140,000	$1,676	4.74%
45%	1	$195,000	$195,000	$1,013	4.45%

Traditional Bank lent most frequently to those with DTI ratios of 20-30%, with 64 originations. The next most common DTI ratio? 30-36%, with 39 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	189	$65,165,000	$344,788	$1,313	5.35%
White	343	$53,315,000	$155,437	$1,377	5.07%
Asian	16	$2,300,000	$143,750	$1,562	5.45%
Not provided	7	$2,205,000	$315,000	$2,233	5.21%
Black	3	$1,665,000	$555,000	$1,878	5.30%
Native Hawaiian or Islander	1	$105,000	$105,000	$1,889	4.70%
Other Asian	1	$65,000	$65,000	$0	5.35%

Approval Rates

Total approvals of all applications
91.38%

Traditional Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.68%

Traditional Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
328.68	1	$25,000	$25,000
NA	559	$124,795,000	$223,247

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	42	$39,790,000	$947,381
Single Family (1-4 Units):Manufactured	47	$3,595,000	$76,489
Single Family (1-4 Units):Site-Built	471	$81,435,000	$172,898

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	45	$6,215,000	$138,111	$1,126	5.05%
40-60%	69	$13,695,000	$198,478	$1,270	5.11%
60-80%	195	$60,595,000	$310,744	$1,650	5.26%
80-100%	208	$39,760,000	$191,154	$1,457	5.12%
Over 100%	4	$1,500,000	$375,000	$0	5.31%
Under 20%	29	$2,675,000	$92,241	$935	5.14%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Traditional Bank, Inc.	100 Walnut Street Frenchburg, KY 40322	Full Service B&M	$39,332
Traditional Bank, Inc.	1378 Indian Mound Drive Mount Sterling, KY 40353	Full Service B&M	$9,517
Traditional Bank, Inc.	163 W. Short St. Suite 100 Lexington, KY 40507	Full Service B&M	$157,138
Traditional Bank, Inc.	2106 Rocky Drive Paris, KY 40361	Full Service B&M	$8,797
Traditional Bank, Inc.	2197 Nicholasville Road Lexington, KY 40503	Full Service B&M	$25,987
Traditional Bank, Inc.	2801 Palumbo Drive Lexington, KY 40509	Full Service B&M	$273,281
Traditional Bank, Inc.	30 W Broadway Street Winchester, KY 40391	Full Service B&M	$431
Traditional Bank, Inc.	3333 Lexington Road Paris, KY 40361	Full Service B&M	$104,951
Traditional Bank, Inc.	3353 Tates Creek Road Lexington, KY 40502	Full Service B&M	$67,919
Traditional Bank, Inc.	3720 Palomar Centre Dr. Lexington, KY 40513	Full Service B&M	$105,845
Traditional Bank, Inc.	49 W. Main Street Mount Sterling, KY 40353	Full Service B&M	$280,714
Traditional Bank, Inc.	637 Maysville Road Mount Sterling, KY 40353	Full Service B&M	$14,069
Traditional Bank, Inc.	7450 Indian Mound Drive Mount Sterling, KY 40353	Full Service B&M	$7,361
Traditional Bank, Inc.	7880 Main Street Jeffersonville, KY 40337	Full Service B&M	$10,407
Traditional Bank, Inc.	875 Colby Rd. Winchester, KY 40391	Full Service B&M	$123,448
Traditional Bank, Inc.	91 Arrowhead Ct Frankfort, KY 40601	Full Service B&M	$38,154

For 2019, Traditional Bank had 16 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$66,466
Net interest income	$49,516
Total noninterest income	$6,647
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,687
Trading account gains and fees	$0
Additional Noninterest Income	$3,960
Pre-tax net operating income	$24,215
Securities gains (or losses, -)	$200
Income before extraordinary items	$24,415
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$24,415
Minority interest net income	$0
Net income	$24,415
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$24,215

Traditional Bank's gross interest income from loans was $66,466,000.
Traditional Bank's net interest income from loans was $49,516,000.
Traditional Bank's fee based income from loans was $2,687,000.
Traditional Bank's net income from loans was $24,415,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$16,950
Provision for credit losses	$1,722
Total noninterest expense	$30,226
Salaries and employee benefits	$17,904
Premises and equipment expense	$3,827
Additional noninterest expense	$8,495
Applicable income taxes	$0
Net charge-offs	$614
Cash dividends	$13,352

Traditional Bank's interest expense for loans was $16,950,000.
Traditional Bank's payroll and benefits expense were $17,904,000.
Traditional Bank's property, plant and equipment expenses $3,827,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	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	1.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$1,395,945
Deposits held in domestic offices	$1,395,945
Deposits by Individuals, partnerships, and corporations	$1,161,546
Deposits by U.S. Government	$2,002
Deposits by States and political subdivisions in the U.S.	$187,074
Deposits by Commercial banks and other depository institutions in U.S.	$45,323
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$283,633
Demand deposits	$283,633
Nontransaction accounts	$1,112,312
Money market deposit accounts (MMDAs)	$733,778
Other savings deposits (excluding MMDAs)	$73,157
Total time deposits	$305,377
Total time and savings deposits	$1,112,312
Noninterest-bearing deposits	$66,094
Interest-bearing deposits	$1,329,851
Retail deposits	$1,182,861
IRAs and Keogh plan accounts	$40,880
Brokered deposits	$101,360
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,663,066
Cash & Balances due from depository institutions	$36,576
Interest-bearing balances	$5,567
Total securities	$408,820
Federal funds sold & reverse repurchase	$608
Net loans and leases	$1,165,674
Loan and leases loss allowance	$13,805
Trading account assets	$0
Bank premises and fixed assets	$12,918
Other real estate owned	$261
Goodwill and other intangibles	$0
All other assets	$38,209

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,663,066
Total Liabilities	$1,492,164
Total deposits	$1,395,945
Interest-bearing deposits	$1,329,851
Deposits held in domestic offices	$1,395,945
% insured (estimated)	$71
Federal funds purchased and repurchase agreements	$33,287
Trading liabilities	$0
Other borrowed funds	$54,138
Subordinated debt	$0
All other liabilities	$8,794

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,165,674
Loan and leases loss allowance	$13,805
Total loans and leases (domestic)	$1,179,479
All real estate loans	$1,062,957
Real estate loans in domestic offices	$1,062,957
Construction and development loans	$134,031
Residential 1-4 family construction	$47,734
Other construction, all land development and other land	$86,297
Loans secured by nonfarm nonresidential properties	$390,897
Nonfarm nonresidential secured by owner-occupied properties	$182,442
Commercial real estate & other non-farm, non-residential	$208,455
Multifamily residential real estate	$46,385
1-4 family residential loans	$434,043
Farmland loans	$57,601
Loans held in foreign offices	$0
Farm loans	$7,348
Commercial and industrial loans	$89,467
To non-U.S. addressees	$0
Loans to individuals	$6,268
Credit card loans	$0
Related Plans	$42
Consumer Auto Loans	$907
Other loans to individuals	$5,319
All other loans & leases	$13,439
Loans to foreign governments and official institutions	$0
Other loans	$4,261
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$8,275
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$731
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Traditional Bank had $1,165,674,000 of loans outstanding in 2019. $1,062,957,000 of loans were in real estate loans. $134,031,000 of loans were in development loans. $46,385,000 of loans were in multifamily mortgage loans. $434,043,000 of loans were in 1-4 family mortgage loans. $7,348,000 of loans were in farm loans. $0 of loans were in credit card loans. $907,000 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	551	$137,483	$249,515
Nonfarm, nonresidential loans - <$100k	94	$4,124	$43,872
Nonfarm, nonresidential loans - $100-250k	176	$20,508	$116,523
Nonfarm, nonresidential loans - $250k-1MM	281	$112,851	$401,605
Commercial & Industrial, US addressed loans - <$1MM	819	$59,160	$72,234
Commercial & Industrial, US addressed loans - <$100k	541	$13,137	$24,283
Commercial & Industrial, US addressed loans - $100-250k	140	$12,808	$91,486
Commercial & Industrial, US addressed loans - $250k-1MM	138	$33,215	$240,688
Farmland loans - <$1MM	209	$25,856	$123,713
Farmland loans - <$100k	94	$3,855	$41,011
Farmland loans - $100-250k	77	$10,693	$138,870
Farmland loans - $250k-1MM	38	$11,308	$297,579
Agriculture operations loans - <$1MM	165	$5,746	$34,824
Agriculture operations loans - <$100k	148	$3,112	$21,027
Agriculture operations loans - $100-250k	13	$1,320	$101,538
Agriculture operations loans - $250k-1MM	4	$1,314	$328,500