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, Bloomington, and Bedford among others. We have data for 4 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 an average pick rate when compared to similar lenders.
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Originations
82Origination Dollar Volume (All Markets)
$12,510,000Employee count
47Top 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) | 62 | $10,340,000 | $166,774 | $0 | 0.00% |
| Outside of Metro Areas | 15 | $1,645,000 | $109,667 | $0 | 0.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| Bedford, IN (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 82 | $12,510,000 | $152,561 | $0 | 0.00% |
For 2020, Mid-southern Savings Bank Fsb's most frequently originated type of loan was Conventional, with 82 originations.
Loan Reason
For 2020, Mid-southern Savings Bank Fsb's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 82 | $12,510,000 | $152,561 | $0 | 0.00% |
For 2020, Mid-southern Savings Bank Fsb's most frequently cited loan duration was Other, with 82 originations.
Loan Sizing
2020 saw Mid-southern Savings Bank Fsb place emphasis on $100,000 or less loans with 47 originations, totaling $2,685,000 in origination value.
Applicant Income
Mid-southern Savings Bank Fsb lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $75k-100k, with 17 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 82 | $12,510,000 | $152,561 | $0 | 0.00% |
Mid-southern Savings Bank Fsb lent most frequently to those with DTI ratios of Exempt%, with 82 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 70 | $7,760,000 | $110,857 | $0 | 0.00% |
| Not applicable | 12 | $4,750,000 | $395,833 | $0 | 0.00% |
Approval Rates
Total approvals of all applications74.40%
Mid-southern Savings Bank Fsb has a below average approval rate.
Pick Rate
Approvals leading to origination90.24%
Mid-southern Savings Bank Fsb has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 82 | $12,510,000 | $152,561 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Midwest Loan Services, Inc. | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 33.3% |
| Midwest Loan Services, Inc. | Conventional home mortgage | Incorrect information on your report | 1 | 16.7% |
| Midwest Loan Services, Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 16.7% |
| Midwest Loan Services, Inc. | Conventional home mortgage | Trouble during payment process | 2 | 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 | $27,112 |
| Mid-Southern Savings Bank, FSB | 300 N Water Street Salem, IN 47167 | Full Service B&M | $93,880 |
| Mid-Southern Savings Bank, FSB | 870 South Maple Orleans, IN 47452 | Full Service B&M | $44,390 |
For 2020, Mid-southern Savings Bank Fsb had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $7,593 |
| Net interest income | $6,501 |
| Total noninterest income | $747 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $210 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $537 |
| Pre-tax net operating income | $1,528 |
| Securities gains (or losses, -) | $104 |
| Income before extraordinary items | $1,498 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,498 |
| Minority interest net income | $0 |
| Net income | $1,498 |
| Sale, conversion, retirement of capital stock, net | $367 |
| Net operating income | $1,402 |
Mid-southern Savings Bank Fsb's gross interest income from loans was $7,593,000.
Mid-southern Savings Bank Fsb's net interest income from loans was $6,501,000.
Mid-southern Savings Bank Fsb's fee based income from loans was $210,000.
Mid-southern Savings Bank Fsb's net income from loans was $1,498,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,092 |
| Provision for credit losses | $132 |
| Total noninterest expense | $5,588 |
| Salaries and employee benefits | $3,383 |
| Premises and equipment expense | $491 |
| Additional noninterest expense | $1,714 |
| Applicable income taxes | $134 |
| Net charge-offs | $41 |
| Cash dividends | $254 |
Mid-southern Savings Bank Fsb's interest expense for loans was $1,092,000.
Mid-southern Savings Bank Fsb's payroll and benefits expense were $3,383,000.
Mid-southern Savings Bank Fsb's property, plant and equipment expenses $491,000.
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 | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| 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 | $180,618 |
| Deposits held in domestic offices | $180,618 |
| Deposits by Individuals, partnerships, and corporations | $163,997 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $16,621 |
| 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 | $83,966 |
| Demand deposits | $32,424 |
| Nontransaction accounts | $96,652 |
| Money market deposit accounts (MMDAs) | $0 |
| Other savings deposits (excluding MMDAs) | $52,779 |
| Total time deposits | $43,874 |
| Total time and savings deposits | $148,194 |
| Noninterest-bearing deposits | $32,424 |
| Interest-bearing deposits | $148,194 |
| Retail deposits | $177,866 |
| IRAs and Keogh plan accounts | $11,246 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $235,230 |
| Cash & Balances due from depository institutions | $9,661 |
| Interest-bearing balances | $8,017 |
| Total securities | $104,486 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $113,259 |
| Loan and leases loss allowance | $1,589 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,974 |
| Other real estate owned | $99 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,751 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $235,230 |
| Total Liabilities | $192,843 |
| Total deposits | $180,618 |
| Interest-bearing deposits | $148,194 |
| Deposits held in domestic offices | $180,618 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $11,000 |
| Subordinated debt | $0 |
| All other liabilities | $1,225 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $113,259 |
| Loan and leases loss allowance | $1,589 |
| Total loans and leases (domestic) | $114,848 |
| All real estate loans | $108,221 |
| Real estate loans in domestic offices | $108,221 |
| Construction and development loans | $6,539 |
| Residential 1-4 family construction | $2,932 |
| Other construction, all land development and other land | $3,607 |
| Loans secured by nonfarm nonresidential properties | $19,866 |
| Nonfarm nonresidential secured by owner-occupied properties | $9,663 |
| Commercial real estate & other non-farm, non-residential | $10,203 |
| Multifamily residential real estate | $8,743 |
| 1-4 family residential loans | $66,373 |
| Farmland loans | $6,700 |
| Loans held in foreign offices | $0 |
| Farm loans | $99 |
| Commercial and industrial loans | $4,520 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,415 |
| Credit card loans | $0 |
| Related Plans | $7 |
| Consumer Auto Loans | $674 |
| Other loans to individuals | $734 |
| All other loans & leases | $593 |
| 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 | $892 |
| Non 1-4 family restructured loans & leases | $592 |
| Total loans and leases (foreign) | $0 |
Mid-Southern Savings Bank FSB had $113,259,000 of loans outstanding in 2020. $108,221,000 of loans were in real estate loans. $6,539,000 of loans were in development loans. $8,743,000 of loans were in multifamily mortgage loans. $66,373,000 of loans were in 1-4 family mortgage loans. $99,000 of loans were in farm loans. $0 of loans were in credit card loans. $674,000 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 | 68 | $14,002 | $205,912 |
| Nonfarm, nonresidential loans - <$100k | 23 | $1,142 | $49,652 |
| Nonfarm, nonresidential loans - $100-250k | 16 | $1,724 | $107,750 |
| Nonfarm, nonresidential loans - $250k-1MM | 29 | $11,136 | $384,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 80 | $4,488 | $56,100 |
| Commercial & Industrial, US addressed loans - <$100k | 53 | $1,056 | $19,925 |
| Commercial & Industrial, US addressed loans - $100-250k | 15 | $1,282 | $85,467 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 12 | $2,150 | $179,167 |
| Farmland loans - <$1MM | 51 | $4,779 | $93,706 |
| Farmland loans - <$100k | 21 | $592 | $28,190 |
| Farmland loans - $100-250k | 22 | $2,093 | $95,136 |
| Farmland loans - $250k-1MM | 8 | $2,094 | $261,750 |
| Agriculture operations loans - <$1MM | 3 | $99 | $33,000 |
| Agriculture operations loans - <$100k | 3 | $99 | $33,000 |