Mid-southern Savings Bank Fsb Mortgage Rates, Fees & Info
Salem, INLEI: 549300E05TZE9VHI0I91
Tax ID: 35-0631260
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Mortgage Data
Bank Data
Review & Overview
Mid-southern Savings Bank Fsb is a smaller bank specializing in Home Purchase and Refi loans. Mid-southern Savings Bank Fsb has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Bloomington, Seymour, and Bedford among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Mid-southern Savings Bank Fsb has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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Originations
95Origination Dollar Volume (All Markets)
$15,375,000Employee count
43Top 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 |
|---|---|---|---|---|---|
| LOUISVILLE, KY (FHA|USDA|VA) | 87 | $14,905,000 | $171,322 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $195,000 | $39,000 | $0 | 0.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Seymour, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| Bedford, IN (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 95 | $15,375,000 | $161,842 | $0 | 0.00% |
For 2018, Mid-southern Savings Bank Fsb's most frequently originated type of loan was Conventional, with 95 originations.
Loan Reason
For 2018, Mid-southern Savings Bank Fsb's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 40 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 95 | $15,375,000 | $161,842 | $0 | 0.00% |
For 2018, Mid-southern Savings Bank Fsb's most frequently cited loan duration was Other, with 95 originations.
Loan Sizing
2018 saw Mid-southern Savings Bank Fsb place emphasis on $100,000 or less loans with 46 originations, totaling $2,830,000 in origination value.
Applicant Income
Mid-southern Savings Bank Fsb lent most frequently to those with incomes in the $50k or less range, with 21 originations. The second most popular income band? $50k-75k, with 15 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 95 | $15,375,000 | $161,842 | $0 | 0.00% |
Mid-southern Savings Bank Fsb lent most frequently to those with DTI ratios of Exempt%, with 95 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.83%
Mid-southern Savings Bank Fsb has a below average approval rate.
Pick Rate
Approvals leading to origination73.68%
Mid-southern Savings Bank Fsb has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 95 | $15,375,000 | $161,842 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Midwest Loan Services, Inc. | Conventional home mortgage | Trouble during payment process | 2 | 66.7% |
| Midwest Loan Services, Inc. | FHA mortgage | Trouble during payment process | 1 | 33.3% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Mid-Southern Savings Bank, FSB | 1505 W Main St Mitchell, IN 47446 | Full Service B&M | $25,716 |
| Mid-Southern Savings Bank, FSB | 300 N Water Street Salem, IN 47167 | Full Service B&M | $120,121 |
| Mid-Southern Savings Bank, FSB | 870 South Maple Orleans, IN 47452 | Full Service B&M | $44,316 |
For 2018, Mid-southern Savings Bank Fsb had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $7,469 |
| Net interest income | $6,739 |
| Total noninterest income | $835 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $395 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $440 |
| Pre-tax net operating income | $2,027 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $1,643 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,643 |
| Minority interest net income | $0 |
| Net income | $1,643 |
| Sale, conversion, retirement of capital stock, net | $10,228 |
| Net operating income | $1,643 |
Mid-southern Savings Bank Fsb's gross interest income from loans was $7,469,000.
Mid-southern Savings Bank Fsb's net interest income from loans was $6,739,000.
Mid-southern Savings Bank Fsb's fee based income from loans was $395,000.
Mid-southern Savings Bank Fsb's net income from loans was $1,643,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $730 |
| Provision for credit losses | $-200 |
| Total noninterest expense | $5,747 |
| Salaries and employee benefits | $3,088 |
| Premises and equipment expense | $464 |
| Additional noninterest expense | $2,195 |
| Applicable income taxes | $384 |
| Net charge-offs | $19 |
| Cash dividends | $0 |
Mid-southern Savings Bank Fsb's interest expense for loans was $730,000.
Mid-southern Savings Bank Fsb's payroll and benefits expense were $3,088,000.
Mid-southern Savings Bank Fsb's property, plant and equipment expenses $464,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 1.0% |
| All other family | 1.0% |
| 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 | $164,013 |
| Deposits held in domestic offices | $164,013 |
| Deposits by Individuals, partnerships, and corporations | $152,689 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $11,324 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $72,299 |
| Demand deposits | $31,302 |
| Nontransaction accounts | $91,714 |
| Money market deposit accounts (MMDAs) | $0 |
| Other savings deposits (excluding MMDAs) | $38,999 |
| Total time deposits | $52,716 |
| Total time and savings deposits | $132,711 |
| Noninterest-bearing deposits | $31,271 |
| Interest-bearing deposits | $132,742 |
| Retail deposits | $156,374 |
| IRAs and Keogh plan accounts | $12,351 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $200,552 |
| Cash & Balances due from depository institutions | $12,511 |
| Interest-bearing balances | $11,816 |
| Total securities | $53,240 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $126,297 |
| Loan and leases loss allowance | $1,504 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,928 |
| Other real estate owned | $239 |
| Goodwill and other intangibles | $0 |
| All other assets | $6,337 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $200,552 |
| Total Liabilities | $164,645 |
| Total deposits | $164,013 |
| Interest-bearing deposits | $132,742 |
| Deposits held in domestic offices | $164,013 |
| % insured (estimated) | $79 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $632 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $126,297 |
| Loan and leases loss allowance | $1,504 |
| Total loans and leases (domestic) | $127,801 |
| All real estate loans | $119,665 |
| Real estate loans in domestic offices | $119,665 |
| Construction and development loans | $8,230 |
| Residential 1-4 family construction | $1,871 |
| Other construction, all land development and other land | $6,359 |
| Loans secured by nonfarm nonresidential properties | $20,784 |
| Nonfarm nonresidential secured by owner-occupied properties | $12,189 |
| Commercial real estate & other non-farm, non-residential | $8,595 |
| Multifamily residential real estate | $7,503 |
| 1-4 family residential loans | $76,476 |
| Farmland loans | $6,672 |
| Loans held in foreign offices | $0 |
| Farm loans | $90 |
| Commercial and industrial loans | $5,080 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,039 |
| Credit card loans | $0 |
| Related Plans | $17 |
| Consumer Auto Loans | $657 |
| Other loans to individuals | $1,365 |
| All other loans & leases | $927 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,593 |
| Non 1-4 family restructured loans & leases | $1,251 |
| Total loans and leases (foreign) | $0 |
Mid-Southern Savings Bank FSB had $126,297,000 of loans outstanding in 2018. $119,665,000 of loans were in real estate loans. $8,230,000 of loans were in development loans. $7,503,000 of loans were in multifamily mortgage loans. $76,476,000 of loans were in 1-4 family mortgage loans. $90,000 of loans were in farm loans. $0 of loans were in credit card loans. $657,000 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 | 86 | $14,612 | $169,907 |
| Nonfarm, nonresidential loans - <$100k | 31 | $1,269 | $40,935 |
| Nonfarm, nonresidential loans - $100-250k | 28 | $3,580 | $127,857 |
| Nonfarm, nonresidential loans - $250k-1MM | 27 | $9,763 | $361,593 |
| Commercial & Industrial, US addressed loans - <$1MM | 64 | $5,080 | $79,375 |
| Commercial & Industrial, US addressed loans - <$100k | 41 | $988 | $24,098 |
| Commercial & Industrial, US addressed loans - $100-250k | 16 | $1,599 | $99,938 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 7 | $2,493 | $356,143 |
| Farmland loans - <$1MM | 67 | $5,419 | $80,881 |
| Farmland loans - <$100k | 32 | $952 | $29,750 |
| Farmland loans - $100-250k | 29 | $3,015 | $103,966 |
| Farmland loans - $250k-1MM | 6 | $1,452 | $242,000 |
| Agriculture operations loans - <$1MM | 4 | $90 | $22,500 |
| Agriculture operations loans - <$100k | 4 | $90 | $22,500 |