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 12 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.

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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

580

Origination Dollar Volume (All Markets)

$143,130,000

Employee count

225

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)	314	$99,320,000	$316,306	$1,829	3.99%
Mount Sterling, KY (FHA\|USDA\|VA)	128	$14,400,000	$112,500	$1,388	4.19%
Frankfort, KY (FHA\|USDA\|VA)	51	$9,785,000	$191,863	$1,302	3.98%
Outside of Metro Areas	52	$7,690,000	$147,885	$1,640	4.05%
LOUISVILLE, KY (FHA\|USDA\|VA)	4	$5,800,000	$1,450,000	$1,974	3.70%
Richmond-Berea, KY (FHA\|USDA\|VA)	17	$3,775,000	$222,059	$2,255	3.90%
Danville, KY (FHA\|USDA\|VA)	7	$975,000	$139,286	$2,621	4.07%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	1	$505,000	$505,000	$0	4.00%
London, KY (FHA\|USDA\|VA)	3	$275,000	$91,667	$0	4.37%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$275,000	$275,000	$0	3.85%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	4.00%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	4.25%

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

Their top states include:

Kentucky (FHA|USDA|VA)

Indiana (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.

Peoples Exchange Bank
Similarity Rank: 468

MORTGAGE SUPPLIERS, INC.
Similarity Rank: 560

INDIANA MEMBERS CREDIT UNION
Similarity Rank: 810

The Monticello Banking Company
Similarity Rank: 817

COMMONWEALTH
Similarity Rank: 1050

First Harrison Bank
Similarity Rank: 1083

Kentucky Bank
Similarity Rank: 1144

TRANSCEND
Similarity Rank: 1170

Traditional Bank, Inc.
Similarity Rank: 1236

The Citizens National Bank of Somerset
Similarity Rank: 1274

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	580	$143,130,000	$246,776	$1,649	4.04%

For 2021, Traditional Bank's most frequently originated type of loan was Conventional, with 580 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	354	$76,280,000	$215,480	$1,884	4.02%
Refi	191	$62,905,000	$329,346	$1,357	4.00%
Home Improvement	26	$2,780,000	$106,923	$1,053	4.55%
Other	9	$1,165,000	$129,444	$1,443	4.01%

For 2021, Traditional Bank's most frequently cited loan purpose was Home Purchase, with 354 originations. The 2nd most popular reason was Refi, with 191 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	181	$39,115,000	$216,105	$1,768	3.68%
10 Year	132	$51,410,000	$389,470	$1,223	4.09%
Other	81	$21,315,000	$263,148	$1,538	4.43%
20 Year	66	$11,130,000	$168,636	$1,221	4.17%
15 Year	49	$7,645,000	$156,020	$1,351	3.77%
5 Year	37	$7,045,000	$190,405	$833	4.59%
1 Year	32	$4,910,000	$153,438	$1,864	4.37%
30+ year	1	$375,000	$375,000	$5,300	4.00%
3 Year	1	$185,000	$185,000	$0	4.25%

For 2021, Traditional Bank's most frequently cited loan duration was 30 Year, with 181 originations. The 2nd most popular length was 10 Year, with 132 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	258	$45,310,000	$175,620
$1k-2k	13	$3,855,000	$296,538

Traditional Bank's average total fees were $1,768, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 258 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	322	$100,380,000	$311,739
4-5%	207	$32,505,000	$157,029
2.5-3%	33	$8,775,000	$265,909
5-6%	10	$500,000	$50,000
<2.5%	5	$915,000	$183,000
Over 8%	3	$55,000	$18,333

During 2021, Traditional Bank's average interest rate for loans was 3.68%, while their most frequently originated rate bucket for loans was 3-4%, with 322 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	208	$29,810,000	$143,317	$1,573	3.98%
$100,000 or less	184	$10,870,000	$59,076	$1,222	4.32%
$200k-400k	126	$35,150,000	$278,968	$2,022	3.84%
$400k-600k	39	$18,645,000	$478,077	$2,466	3.77%
$600k-1MM	13	$9,995,000	$768,846	$3,476	3.86%
$1MM+	10	$38,660,000	$3,866,000	$0	3.89%

2021 saw Traditional Bank place emphasis on $100k-200k loans with 208 originations, totaling $29,810,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	125	$13,915,000	$111,320	$1,480	4.18%
$50k-75k	77	$10,205,000	$132,532	$1,499	4.05%
$100k-150k	67	$15,515,000	$231,567	$1,837	3.74%
$75k-100k	43	$6,075,000	$141,279	$1,465	3.87%
$150k-250k	39	$10,445,000	$267,821	$2,257	4.05%
$250k+	24	$5,930,000	$247,083	$1,917	3.74%

Traditional Bank lent most frequently to those with incomes in the $50k or less range, with 125 originations. The second most popular income band? $50k-75k, with 77 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	58	$8,280,000	$142,759	$1,455	3.86%
30-36%	43	$7,495,000	$174,302	$1,637	3.91%
<20%	37	$6,425,000	$173,649	$1,647	3.79%
50-60%	23	$4,265,000	$185,435	$1,479	3.72%
>60%	13	$3,525,000	$271,154	$1,929	3.78%
40%	13	$2,385,000	$183,462	$1,646	3.62%
37%	11	$1,575,000	$143,182	$1,247	3.88%
44%	10	$2,760,000	$276,000	$2,449	3.59%
42%	10	$2,360,000	$236,000	$1,743	3.66%
43%	9	$1,555,000	$172,778	$1,769	3.97%
39%	8	$2,200,000	$275,000	$2,174	4.44%
38%	8	$1,120,000	$140,000	$1,606	3.83%
36%	7	$1,125,000	$160,714	$1,658	3.93%
41%	7	$1,035,000	$147,857	$1,772	3.88%
48%	5	$1,025,000	$205,000	$2,110	3.82%
47%	3	$705,000	$235,000	$1,542	3.99%
46%	3	$395,000	$131,667	$1,723	3.69%
49%	2	$370,000	$185,000	$1,554	3.95%
45%	1	$15,000	$15,000	$833	4.25%

Traditional Bank lent most frequently to those with DTI ratios of 20-30%, with 58 originations. The next most common DTI ratio? 30-36%, with 43 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	197	$79,415,000	$403,122	$1,607	4.13%
White	346	$57,830,000	$167,139	$1,637	3.98%
Not provided	16	$2,790,000	$174,375	$2,065	4.10%
Black	14	$1,820,000	$130,000	$1,563	4.19%
Asian	7	$1,275,000	$182,143	$0	4.19%

Approval Rates

Total approvals of all applications
91.42%

Traditional Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.59%

Traditional Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
490.68	1	$25,000	$25,000
53.0	2	$30,000	$15,000
NA	577	$143,075,000	$247,964

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	580	$143,130,000	$246,776

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	37	$3,475,000	$93,919	$1,265	4.21%
40-60%	82	$29,430,000	$358,902	$1,636	4.08%
60-80%	212	$47,660,000	$224,811	$1,627	4.11%
80-100%	219	$50,495,000	$230,571	$1,777	3.87%
Over 100%	3	$9,985,000	$3,328,333	$1,001	4.05%
Under 20%	18	$1,280,000	$71,111	$833	4.13%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Traditional Bank, Inc.	114 Main St Frenchburg, KY 40322	Full Service B&M	$49,809
Traditional Bank, Inc.	1378 Indian Mound Drive Mount Sterling, KY 40353	Full Service B&M	$12,697
Traditional Bank, Inc.	163 W. Short St. Suite 100 Lexington, KY 40507	Full Service B&M	$183,460
Traditional Bank, Inc.	2106 Rocky Drive Paris, KY 40361	Full Service B&M	$36,517
Traditional Bank, Inc.	2197 Nicholasville Road Lexington, KY 40503	Full Service B&M	$34,294
Traditional Bank, Inc.	2801 Palumbo Drive Lexington, KY 40509	Full Service B&M	$440,073
Traditional Bank, Inc.	30 W Broadway Street Winchester, KY 40391	Full Service B&M	$26,944
Traditional Bank, Inc.	3333 Lexington Road Paris, KY 40361	Full Service B&M	$146,729
Traditional Bank, Inc.	3353 Tates Creek Road Lexington, KY 40502	Full Service B&M	$94,332
Traditional Bank, Inc.	3720 Palomar Centre Dr. Lexington, KY 40513	Full Service B&M	$172,765
Traditional Bank, Inc.	49 W. Main Street Mount Sterling, KY 40353	Full Service B&M	$350,019
Traditional Bank, Inc.	637 Maysville Road Mount Sterling, KY 40353	Full Service B&M	$20,299
Traditional Bank, Inc.	7450 Indian Mound Drive Mount Sterling, KY 40353	Full Service B&M	$7,923
Traditional Bank, Inc.	7880 Main Street Jeffersonville, KY 40337	Full Service B&M	$13,027
Traditional Bank, Inc.	875 Colby Rd. Winchester, KY 40391	Full Service B&M	$112,636
Traditional Bank, Inc.	91 Arrowhead Ct Frankfort, KY 40601	Full Service B&M	$152,195

For 2021, Traditional Bank had 16 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$71,859
Net interest income	$62,990
Total noninterest income	$7,677
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,052
Trading account gains and fees	$0
Additional Noninterest Income	$5,625
Pre-tax net operating income	$38,785
Securities gains (or losses, -)	$-55
Income before extraordinary items	$38,730
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$38,730
Minority interest net income	$0
Net income	$38,730
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$38,785

Traditional Bank's gross interest income from loans was $71,859,000.
Traditional Bank's net interest income from loans was $62,990,000.
Traditional Bank's fee based income from loans was $2,052,000.
Traditional Bank's net income from loans was $38,730,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$8,869
Provision for credit losses	$1,685
Total noninterest expense	$30,197
Salaries and employee benefits	$18,293
Premises and equipment expense	$3,958
Additional noninterest expense	$7,946
Applicable income taxes	$0
Net charge-offs	$2,416
Cash dividends	$19,619

Traditional Bank's interest expense for loans was $8,869,000.
Traditional Bank's payroll and benefits expense were $18,293,000.
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	2.0%
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	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	$1,952,028
Deposits held in domestic offices	$1,952,028
Deposits by Individuals, partnerships, and corporations	$1,674,133
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$226,717
Deposits by Commercial banks and other depository institutions in U.S.	$51,178
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$401,421
Demand deposits	$401,421
Nontransaction accounts	$1,550,607
Money market deposit accounts (MMDAs)	$1,156,622
Other savings deposits (excluding MMDAs)	$124,219
Total time deposits	$269,766
Total time and savings deposits	$1,550,607
Noninterest-bearing deposits	$83,659
Interest-bearing deposits	$1,868,369
Retail deposits	$1,762,251
IRAs and Keogh plan accounts	$39,716
Brokered deposits	$103,669
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,250,887
Cash & Balances due from depository institutions	$370,638
Interest-bearing balances	$345,260
Total securities	$726,039
Federal funds sold & reverse repurchase	$298
Net loans and leases	$1,088,417
Loan and leases loss allowance	$15,046
Trading account assets	$0
Bank premises and fixed assets	$12,286
Other real estate owned	$11,899
Goodwill and other intangibles	$0
All other assets	$41,310

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,250,887
Total Liabilities	$2,044,976
Total deposits	$1,952,028
Interest-bearing deposits	$1,868,369
Deposits held in domestic offices	$1,952,028
% insured (estimated)	$67
Federal funds purchased and repurchase agreements	$54,973
Trading liabilities	$0
Other borrowed funds	$30,326
Subordinated debt	$0
All other liabilities	$7,649

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,088,417
Loan and leases loss allowance	$15,046
Total loans and leases (domestic)	$1,103,463
All real estate loans	$980,409
Real estate loans in domestic offices	$980,409
Construction and development loans	$140,319
Residential 1-4 family construction	$56,876
Other construction, all land development and other land	$83,443
Loans secured by nonfarm nonresidential properties	$338,960
Nonfarm nonresidential secured by owner-occupied properties	$166,177
Commercial real estate & other non-farm, non-residential	$172,783
Multifamily residential real estate	$50,974
1-4 family residential loans	$406,826
Farmland loans	$43,330
Loans held in foreign offices	$0
Farm loans	$3,778
Commercial and industrial loans	$103,411
To non-U.S. addressees	$0
Loans to individuals	$4,615
Credit card loans	$0
Related Plans	$30
Consumer Auto Loans	$976
Other loans to individuals	$3,609
All other loans & leases	$11,250
Loans to foreign governments and official institutions	$0
Other loans	$3,829
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$3,364
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$3,770
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Traditional Bank had $1,088,417,000 of loans outstanding in 2021. $980,409,000 of loans were in real estate loans. $140,319,000 of loans were in development loans. $50,974,000 of loans were in multifamily mortgage loans. $406,826,000 of loans were in 1-4 family mortgage loans. $3,778,000 of loans were in farm loans. $0 of loans were in credit card loans. $976,000 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	545	$131,553	$241,382
Nonfarm, nonresidential loans - <$100k	94	$3,830	$40,745
Nonfarm, nonresidential loans - $100-250k	182	$20,698	$113,725
Nonfarm, nonresidential loans - $250k-1MM	269	$107,025	$397,862
Commercial & Industrial, US addressed loans - <$1MM	987	$75,815	$76,814
Commercial & Industrial, US addressed loans - <$100k	651	$15,173	$23,307
Commercial & Industrial, US addressed loans - $100-250k	186	$20,074	$107,925
Commercial & Industrial, US addressed loans - $250k-1MM	150	$40,568	$270,453
Farmland loans - <$1MM	171	$19,642	$114,865
Farmland loans - <$100k	72	$2,792	$38,778
Farmland loans - $100-250k	65	$7,400	$113,846
Farmland loans - $250k-1MM	34	$9,450	$277,941
Agriculture operations loans - <$1MM	120	$3,778	$31,483
Agriculture operations loans - <$100k	104	$1,565	$15,048
Agriculture operations loans - $100-250k	13	$1,366	$105,077
Agriculture operations loans - $250k-1MM	3	$847	$282,333