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 Refi and Home Purchase loans. Mid-southern Savings Bank Fsb has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Bedford, Lexington, Indianapolis, and Scottsburg among others. We have data for 7 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
71Origination Dollar Volume (All Markets)
$10,465,000Employee count
42Top 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) | 53 | $8,555,000 | $161,415 | $0 | 0.00% |
| Bedford, IN (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $0 | 0.00% |
| Outside of Metro Areas | 10 | $650,000 | $65,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Scottsburg, IN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 71 | $10,465,000 | $147,394 | $0 | 0.00% |
For 2019, Mid-southern Savings Bank Fsb's most frequently originated type of loan was Conventional, with 71 originations.
Loan Reason
For 2019, Mid-southern Savings Bank Fsb's most frequently cited loan purpose was Refi, with 30 originations. The 2nd most popular reason was Home Purchase, with 29 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 71 | $10,465,000 | $147,394 | $0 | 0.00% |
For 2019, Mid-southern Savings Bank Fsb's most frequently cited loan duration was Other, with 71 originations.
Loan Sizing
2019 saw Mid-southern Savings Bank Fsb place emphasis on $100,000 or less loans with 38 originations, totaling $2,140,000 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 16 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 71 | $10,465,000 | $147,394 | $0 | 0.00% |
Mid-southern Savings Bank Fsb lent most frequently to those with DTI ratios of Exempt%, with 71 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications80.36%
Mid-southern Savings Bank Fsb has a below average approval rate.
Pick Rate
Approvals leading to origination77.46%
Mid-southern Savings Bank Fsb has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 71 | $10,465,000 | $147,394 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MIDWEST EQUITY MORTGAGE, LLC | FHA mortgage | Closing on a mortgage | 1 | 100.0% |
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 | $24,116 |
| Mid-Southern Savings Bank, FSB | 300 N Water Street Salem, IN 47167 | Full Service B&M | $91,658 |
| Mid-Southern Savings Bank, FSB | 870 South Maple Orleans, IN 47452 | Full Service B&M | $43,099 |
For 2019, Mid-southern Savings Bank Fsb had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $8,153 |
| Net interest income | $7,024 |
| Total noninterest income | $795 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $339 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $456 |
| Pre-tax net operating income | $1,298 |
| Securities gains (or losses, -) | $7 |
| Income before extraordinary items | $1,162 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,162 |
| Minority interest net income | $0 |
| Net income | $1,162 |
| Sale, conversion, retirement of capital stock, net | $327 |
| Net operating income | $1,155 |
Mid-southern Savings Bank Fsb's gross interest income from loans was $8,153,000.
Mid-southern Savings Bank Fsb's net interest income from loans was $7,024,000.
Mid-southern Savings Bank Fsb's fee based income from loans was $339,000.
Mid-southern Savings Bank Fsb's net income from loans was $1,162,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,129 |
| Provision for credit losses | $12 |
| Total noninterest expense | $6,509 |
| Salaries and employee benefits | $3,476 |
| Premises and equipment expense | $559 |
| Additional noninterest expense | $2,474 |
| Applicable income taxes | $143 |
| Net charge-offs | $18 |
| Cash dividends | $0 |
Mid-southern Savings Bank Fsb's interest expense for loans was $1,129,000.
Mid-southern Savings Bank Fsb's payroll and benefits expense were $3,476,000.
Mid-southern Savings Bank Fsb's property, plant and equipment expenses $559,000.
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 | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| 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 | $158,925 |
| Deposits held in domestic offices | $158,925 |
| Deposits by Individuals, partnerships, and corporations | $143,505 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $15,420 |
| 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 | $59,483 |
| Demand deposits | $19,731 |
| Nontransaction accounts | $99,442 |
| Money market deposit accounts (MMDAs) | $0 |
| Other savings deposits (excluding MMDAs) | $36,459 |
| Total time deposits | $62,983 |
| Total time and savings deposits | $139,194 |
| Noninterest-bearing deposits | $19,731 |
| Interest-bearing deposits | $139,194 |
| Retail deposits | $140,844 |
| IRAs and Keogh plan accounts | $11,265 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $208,372 |
| Cash & Balances due from depository institutions | $18,817 |
| Interest-bearing balances | $17,395 |
| Total securities | $58,459 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $123,272 |
| Loan and leases loss allowance | $1,498 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $2,003 |
| Other real estate owned | $135 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,686 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $208,372 |
| Total Liabilities | $169,529 |
| Total deposits | $158,925 |
| Interest-bearing deposits | $139,194 |
| Deposits held in domestic offices | $158,925 |
| % insured (estimated) | $76 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,000 |
| Subordinated debt | $0 |
| All other liabilities | $604 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $123,272 |
| Loan and leases loss allowance | $1,498 |
| Total loans and leases (domestic) | $124,770 |
| All real estate loans | $116,338 |
| Real estate loans in domestic offices | $116,338 |
| Construction and development loans | $6,769 |
| Residential 1-4 family construction | $3,610 |
| Other construction, all land development and other land | $3,159 |
| Loans secured by nonfarm nonresidential properties | $23,673 |
| Nonfarm nonresidential secured by owner-occupied properties | $11,953 |
| Commercial real estate & other non-farm, non-residential | $11,720 |
| Multifamily residential real estate | $7,677 |
| 1-4 family residential loans | $72,575 |
| Farmland loans | $5,644 |
| Loans held in foreign offices | $0 |
| Farm loans | $49 |
| Commercial and industrial loans | $5,066 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,875 |
| Credit card loans | $0 |
| Related Plans | $12 |
| Consumer Auto Loans | $1,018 |
| Other loans to individuals | $845 |
| All other loans & leases | $1,442 |
| 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 | $1,306 |
| Non 1-4 family restructured loans & leases | $823 |
| Total loans and leases (foreign) | $0 |
Mid-Southern Savings Bank FSB had $123,272,000 of loans outstanding in 2019. $116,338,000 of loans were in real estate loans. $6,769,000 of loans were in development loans. $7,677,000 of loans were in multifamily mortgage loans. $72,575,000 of loans were in 1-4 family mortgage loans. $49,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,018,000 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 | 92 | $16,381 | $178,054 |
| Nonfarm, nonresidential loans - <$100k | 36 | $1,706 | $47,389 |
| Nonfarm, nonresidential loans - $100-250k | 24 | $2,861 | $119,208 |
| Nonfarm, nonresidential loans - $250k-1MM | 32 | $11,814 | $369,188 |
| Commercial & Industrial, US addressed loans - <$1MM | 67 | $5,066 | $75,612 |
| Commercial & Industrial, US addressed loans - <$100k | 40 | $979 | $24,475 |
| Commercial & Industrial, US addressed loans - $100-250k | 18 | $1,388 | $77,111 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 9 | $2,699 | $299,889 |
| Farmland loans - <$1MM | 60 | $4,604 | $76,733 |
| Farmland loans - <$100k | 30 | $766 | $25,533 |
| Farmland loans - $100-250k | 24 | $2,449 | $102,042 |
| Farmland loans - $250k-1MM | 6 | $1,389 | $231,500 |
| Agriculture operations loans - <$1MM | 2 | $49 | $24,500 |
| Agriculture operations loans - <$100k | 2 | $49 | $24,500 |