Traditional Bank Mortgage Rates, Fees & Info

Mount Sterling, KY

LEI: 549300D88XVKM6DJOC77

Tax ID: 61-0284535

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Mortgage Data

Bank 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% 3/28/24
30 Year Conventional Purchase 6.91% 3/28/24
30 Year Conventional Refi 7.08% 3/28/24
30 Year Cash-out Refi 6.54% 3/28/24
30 Year FHA Purchase 7.35% 3/28/24
30 Year FHA Refi 6.27% 3/28/24
30 Year VA Purchase 5.84% 3/28/24
15 Year Conventional Purchase 6.08% 3/28/24
15 Year Conventional Refi 6.14% 3/28/24
15 Year Cash-out Refi 6.14% 3/28/24
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

580

Origination Dollar Volume (All Markets)

$143,130,000

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 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.

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    Similarity Rank: 1236

    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