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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    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, Richmond, and Louisville among others. We have data for 9 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% 12/3/24
    30 Year Conventional Purchase 6.91% 12/3/24
    30 Year Conventional Refi 7.08% 12/3/24
    30 Year Cash-out Refi 6.54% 12/3/24
    30 Year FHA Purchase 7.35% 12/3/24
    30 Year FHA Refi 6.27% 12/3/24
    30 Year VA Purchase 5.84% 12/3/24
    15 Year Conventional Purchase 6.08% 12/3/24
    15 Year Conventional Refi 6.14% 12/3/24
    15 Year Cash-out Refi 6.14% 12/3/24
    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






    Your Estimates

    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

    588

    Origination Dollar Volume (All Markets)

    $137,760,000

    Employee count

    225

    Awards

    Traditional Bank 30 Year Conventional Loans gold Traditional Bank 30 Year Conventional Loans gold 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) 347 $94,795,000 $273,184 $1,533 4.44%
    Mount Sterling, KY (FHA|USDA|VA) 133 $16,075,000 $120,865 $1,269 4.40%
    Frankfort, KY (FHA|USDA|VA) 47 $12,085,000 $257,128 $874 4.36%
    Outside of Metro Areas 29 $5,045,000 $173,966 $1,519 4.57%
    Richmond-Berea, KY (FHA|USDA|VA) 16 $3,110,000 $194,375 $1,868 4.46%
    LOUISVILLE, KY (FHA|USDA|VA) 5 $2,745,000 $549,000 $1,200 4.31%
    Danville, KY (FHA|USDA|VA) 5 $2,185,000 $437,000 $0 4.29%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $1,595,000 $319,000 $2,317 4.43%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 1 $125,000 $125,000 $1,638 4.10%
    Traditional Bank's top markets include Lexington, Mount Sterling, Frankfort, Richmond, and Louisville among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Alabama (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.

    Peoples Exchange Bank
    Similarity Rank: 552
    MORTGAGE SUPPLIERS, INC.
    Similarity Rank: 697
    Traditional Bank, Inc.
    Similarity Rank: 891
    First Harrison Bank
    Similarity Rank: 980
    Kentucky Bank
    Similarity Rank: 1222
    TRANSCEND
    Similarity Rank: 1395
    COMMONWEALTH
    Similarity Rank: 1450
    Centra Credit Union
    Similarity Rank: 1739
    MEMBERS HERITAGE Credit Union
    Similarity Rank: 1760
    Abound Federal Credit Union
    Similarity Rank: 1888

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 588 $137,760,000 $234,286 $1,412 4.43%

    For 2020, Traditional Bank's most frequently originated type of loan was Conventional, with 588 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 297 $59,715,000 $201,061 $1,737 4.48%
    Refi 261 $75,105,000 $287,759 $1,109 4.34%
    Home Improvement 19 $1,665,000 $87,632 $1,318 4.96%
    Other 11 $1,275,000 $115,909 $1,148 4.15%

    For 2020, Traditional Bank's most frequently cited loan purpose was Home Purchase, with 297 originations. The 2nd most popular reason was Refi, with 261 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 182 $40,320,000 $221,538 $1,473 4.16%
    10 Year 149 $44,935,000 $301,577 $1,452 4.56%
    Other 76 $17,590,000 $231,447 $1,173 4.55%
    20 Year 53 $8,625,000 $162,736 $1,022 4.42%
    15 Year 47 $4,845,000 $103,085 $1,084 4.22%
    1 Year 44 $10,010,000 $227,500 $2,233 4.79%
    5 Year 33 $10,715,000 $324,697 $813 4.83%
    30+ year 3 $695,000 $231,667 $3,175 4.07%
    3 Year 1 $25,000 $25,000 $0 4.95%

    For 2020, Traditional Bank's most frequently cited loan duration was 30 Year, with 182 originations. The 2nd most popular length was 10 Year, with 149 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 273 $49,765,000 $182,289
    $1k-2k 17 $5,835,000 $343,235
    $2k-3k 2 $1,150,000 $575,000

    Traditional Bank's average total fees were $1,473, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 273 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 396 $92,620,000 $233,889
    3-4% 157 $42,585,000 $271,242
    5-6% 28 $2,290,000 $81,786
    6-7% 5 $145,000 $29,000
    <2.5% 1 $105,000 $105,000
    7-8% 1 $15,000 $15,000

    During 2020, Traditional Bank's average interest rate for loans was 4.16%, while their most frequently originated rate bucket for loans was 4-5%, with 396 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 207 $29,385,000 $141,957 $1,369 4.38%
    $100,000 or less 188 $11,580,000 $61,596 $1,091 4.59%
    $200k-400k 137 $37,895,000 $276,606 $1,583 4.30%
    $400k-600k 26 $12,460,000 $479,231 $2,369 4.28%
    $1MM+ 20 $38,690,000 $1,934,500 $3,015 4.38%
    $600k-1MM 10 $7,750,000 $775,000 $2,378 4.54%

    2020 saw Traditional Bank place emphasis on $100k-200k loans with 207 originations, totaling $29,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 122 $13,360,000 $109,508 $1,298 4.43%
    $100k-150k 70 $13,080,000 $186,857 $1,429 4.35%
    $150k-250k 65 $16,615,000 $255,615 $1,420 4.27%
    $50k-75k 58 $8,210,000 $141,552 $1,333 4.42%
    $75k-100k 50 $7,550,000 $151,000 $1,467 4.28%
    $250k+ 35 $12,905,000 $368,714 $1,682 4.37%

    Traditional Bank lent most frequently to those with incomes in the $50k or less range, with 122 originations. The second most popular income band? $100k-150k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 71 $12,295,000 $173,169 $1,262 4.23%
    30-36% 57 $9,685,000 $169,912 $1,350 4.17%
    <20% 40 $8,970,000 $224,250 $1,176 4.05%
    50-60% 15 $3,345,000 $223,000 $1,674 4.27%
    42% 14 $2,730,000 $195,000 $2,008 4.23%
    39% 13 $2,205,000 $169,615 $1,289 4.12%
    37% 11 $4,155,000 $377,727 $1,833 4.22%
    43% 10 $1,190,000 $119,000 $1,529 4.72%
    >60% 10 $3,470,000 $347,000 $1,436 4.29%
    38% 7 $1,065,000 $152,143 $1,300 4.28%
    41% 7 $1,205,000 $172,143 $1,612 4.37%
    47% 7 $995,000 $142,143 $1,381 4.16%
    48% 7 $1,275,000 $182,143 $1,361 4.31%
    46% 5 $875,000 $175,000 $1,577 4.14%
    40% 5 $685,000 $137,000 $1,529 4.08%
    44% 5 $475,000 $95,000 $1,247 4.18%
    36% 3 $445,000 $148,333 $1,881 4.20%
    45% 3 $705,000 $235,000 $2,011 4.06%
    49% 1 $145,000 $145,000 $1,152 4.45%

    Traditional Bank lent most frequently to those with DTI ratios of 20-30%, with 71 originations. The next most common DTI ratio? 30-36%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 369 $65,715,000 $178,089 $1,397 4.34%
    Not applicable 182 $65,460,000 $359,670 $4,938 4.56%
    Not provided 20 $3,270,000 $163,500 $1,663 4.61%
    Black 9 $2,325,000 $258,333 $858 4.42%
    Asian 6 $830,000 $138,333 $0 4.79%
    Korean 1 $85,000 $85,000 $0 4.85%
    Other Asian 1 $75,000 $75,000 $0 5.00%

    Approval Rates

    Total approvals of all applications
    91.56%

    Traditional Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.27%

    Traditional Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    150.0 1 $15,000 $15,000
    NA 587 $137,745,000 $234,659

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $1,600,000 $800,000
    Multifamily:Site-Built 51 $44,575,000 $874,020
    Single Family (1-4 Units):Manufactured 45 $3,565,000 $79,222
    Single Family (1-4 Units):Site-Built 490 $88,020,000 $179,633

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 55 $7,805,000 $141,909 $1,070 4.37%
    40-60% 74 $21,960,000 $296,757 $1,485 4.42%
    60-80% 218 $64,510,000 $295,917 $1,374 4.47%
    80-100% 209 $40,475,000 $193,660 $1,533 4.38%
    Over 100% 3 $915,000 $305,000 $413 4.47%
    Under 20% 22 $1,790,000 $81,364 $1,102 4.45%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Traditional Bank, Inc. 100 Walnut Street Frenchburg, KY 40322 Full Service B&M $54,815
    Traditional Bank, Inc. 1378 Indian Mound Drive Mount Sterling, KY 40353 Full Service B&M $10,011
    Traditional Bank, Inc. 163 W. Short St. Suite 100 Lexington, KY 40507 Full Service B&M $171,438
    Traditional Bank, Inc. 2106 Rocky Drive Paris, KY 40361 Full Service B&M $38,587
    Traditional Bank, Inc. 2197 Nicholasville Road Lexington, KY 40503 Full Service B&M $37,105
    Traditional Bank, Inc. 2801 Palumbo Drive Lexington, KY 40509 Full Service B&M $320,431
    Traditional Bank, Inc. 30 W Broadway Street Winchester, KY 40391 Full Service B&M $15,039
    Traditional Bank, Inc. 3333 Lexington Road Paris, KY 40361 Full Service B&M $122,456
    Traditional Bank, Inc. 3353 Tates Creek Road Lexington, KY 40502 Full Service B&M $84,391
    Traditional Bank, Inc. 3720 Palomar Centre Dr. Lexington, KY 40513 Full Service B&M $142,011
    Traditional Bank, Inc. 49 W. Main Street Mount Sterling, KY 40353 Full Service B&M $335,069
    Traditional Bank, Inc. 637 Maysville Road Mount Sterling, KY 40353 Full Service B&M $16,707
    Traditional Bank, Inc. 7450 Indian Mound Drive Mount Sterling, KY 40353 Full Service B&M $6,719
    Traditional Bank, Inc. 7880 Main Street Jeffersonville, KY 40337 Full Service B&M $11,331
    Traditional Bank, Inc. 875 Colby Rd. Winchester, KY 40391 Full Service B&M $107,180
    Traditional Bank, Inc. 91 Arrowhead Ct Frankfort, KY 40601 Full Service B&M $127,241

    For 2020, Traditional Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $69,466
    Net interest income $56,429
    Total noninterest income $6,038
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,098
    Trading account gains and fees $0
    Additional Noninterest Income $3,940
    Pre-tax net operating income $28,796
    Securities gains (or losses, -) $458
    Income before extraordinary items $29,254
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $29,254
    Minority interest net income $0
    Net income $29,254
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $28,796

    Traditional Bank's gross interest income from loans was $69,466,000.
    Traditional Bank's net interest income from loans was $56,429,000.
    Traditional Bank's fee based income from loans was $2,098,000.
    Traditional Bank's net income from loans was $29,254,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $13,037
    Provision for credit losses $2,072
    Total noninterest expense $31,599
    Salaries and employee benefits $18,470
    Premises and equipment expense $3,958
    Additional noninterest expense $9,171
    Applicable income taxes $0
    Net charge-offs $100
    Cash dividends $15,085

    Traditional Bank's interest expense for loans was $13,037,000.
    Traditional Bank's payroll and benefits expense were $18,470,000.
    Traditional Bank's property, plant and equipment expenses $3,958,000.

    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 1.0%
    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,782,951
    Deposits held in domestic offices $1,782,951
    Deposits by Individuals, partnerships, and corporations $1,496,882
    Deposits by U.S. Government $2,000
    Deposits by States and political subdivisions in the U.S. $234,518
    Deposits by Commercial banks and other depository institutions in U.S. $49,551
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $378,746
    Demand deposits $378,746
    Nontransaction accounts $1,404,205
    Money market deposit accounts (MMDAs) $976,235
    Other savings deposits (excluding MMDAs) $97,577
    Total time deposits $330,393
    Total time and savings deposits $1,404,205
    Noninterest-bearing deposits $87,817
    Interest-bearing deposits $1,695,134
    Retail deposits $1,528,605
    IRAs and Keogh plan accounts $39,514
    Brokered deposits $147,645
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,076,041
    Cash & Balances due from depository institutions $250,117
    Interest-bearing balances $227,003
    Total securities $471,319
    Federal funds sold & reverse repurchase $223
    Net loans and leases $1,300,486
    Loan and leases loss allowance $15,777
    Trading account assets $0
    Bank premises and fixed assets $12,581
    Other real estate owned $255
    Goodwill and other intangibles $0
    All other assets $41,060

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,076,041
    Total Liabilities $1,880,962
    Total deposits $1,782,951
    Interest-bearing deposits $1,695,134
    Deposits held in domestic offices $1,782,951
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $46,967
    Trading liabilities $0
    Other borrowed funds $37,014
    Subordinated debt $0
    All other liabilities $14,030

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,300,486
    Loan and leases loss allowance $15,777
    Total loans and leases (domestic) $1,316,263
    All real estate loans $1,073,909
    Real estate loans in domestic offices $1,073,909
    Construction and development loans $117,030
    Residential 1-4 family construction $47,451
    Other construction, all land development and other land $69,579
    Loans secured by nonfarm nonresidential properties $412,212
    Nonfarm nonresidential secured by owner-occupied properties $193,884
    Commercial real estate & other non-farm, non-residential $218,328
    Multifamily residential real estate $49,715
    1-4 family residential loans $436,613
    Farmland loans $58,339
    Loans held in foreign offices $0
    Farm loans $5,491
    Commercial and industrial loans $222,089
    To non-U.S. addressees $0
    Loans to individuals $4,750
    Credit card loans $0
    Related Plans $17
    Consumer Auto Loans $858
    Other loans to individuals $3,875
    All other loans & leases $10,024
    Loans to foreign governments and official institutions $0
    Other loans $2,407
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $5,500
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $568
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Traditional Bank had $1,300,486,000 of loans outstanding in 2020. $1,073,909,000 of loans were in real estate loans. $117,030,000 of loans were in development loans. $49,715,000 of loans were in multifamily mortgage loans. $436,613,000 of loans were in 1-4 family mortgage loans. $5,491,000 of loans were in farm loans. $0 of loans were in credit card loans. $858,000 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 562 $142,991 $254,432
    Nonfarm, nonresidential loans - <$100k 96 $4,092 $42,625
    Nonfarm, nonresidential loans - $100-250k 175 $21,183 $121,046
    Nonfarm, nonresidential loans - $250k-1MM 291 $117,716 $404,522
    Commercial & Industrial, US addressed loans - <$1MM 1,822 $157,314 $86,341
    Commercial & Industrial, US addressed loans - <$100k 1,261 $35,343 $28,028
    Commercial & Industrial, US addressed loans - $100-250k 325 $41,001 $126,157
    Commercial & Industrial, US addressed loans - $250k-1MM 236 $80,970 $343,093
    Farmland loans - <$1MM 198 $23,666 $119,525
    Farmland loans - <$100k 89 $3,729 $41,899
    Farmland loans - $100-250k 75 $10,166 $135,547
    Farmland loans - $250k-1MM 34 $9,771 $287,382
    Agriculture operations loans - <$1MM 133 $3,717 $27,947
    Agriculture operations loans - <$100k 119 $2,006 $16,857
    Agriculture operations loans - $100-250k 11 $826 $75,091
    Agriculture operations loans - $250k-1MM 3 $885 $295,000