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, Pensacola, Lexington, Bedford, and Indianapolis 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
84Origination Dollar Volume (All Markets)
$18,780,000Employee count
44Top 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) | 69 | $15,565,000 | $225,580 | $0 | 0.00% |
| Outside of Metro Areas | 6 | $1,140,000 | $190,000 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $825,000 | $825,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| Bedford, IN (FHA|USDA|VA) | 5 | $415,000 | $83,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 84 | $18,780,000 | $223,571 | $0 | 0.00% |
For 2021, Mid-southern Savings Bank Fsb's most frequently originated type of loan was Conventional, with 84 originations.
Loan Reason
For 2021, Mid-southern Savings Bank Fsb's most frequently cited loan purpose was Refi, with 43 originations. The 2nd most popular reason was Home Purchase, with 31 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 84 | $18,780,000 | $223,571 | $0 | 0.00% |
For 2021, Mid-southern Savings Bank Fsb's most frequently cited loan duration was Other, with 84 originations.
Loan Sizing
2021 saw Mid-southern Savings Bank Fsb place emphasis on $100,000 or less loans with 39 originations, totaling $2,415,000 in origination value.
Applicant Income
Mid-southern Savings Bank Fsb lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $75k-100k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 84 | $18,780,000 | $223,571 | $0 | 0.00% |
Mid-southern Savings Bank Fsb lent most frequently to those with DTI ratios of Exempt%, with 84 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications76.61%
Mid-southern Savings Bank Fsb has a below average approval rate.
Pick Rate
Approvals leading to origination86.90%
Mid-southern Savings Bank Fsb has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 84 | $18,780,000 | $223,571 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Midwest Loan Services, Inc. | Conventional home mortgage | Incorrect information on your report | 1 | 14.3% |
| Midwest Loan Services, Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 14.3% |
| Midwest Loan Services, Inc. | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |
| Midwest Loan Services, Inc. | FHA mortgage | Trouble during payment process | 1 | 14.3% |
| Midwest Loan Services, Inc. | Other type of mortgage | Closing on a mortgage | 1 | 14.3% |
| Midwest Loan Services, Inc. | VA mortgage | Trouble during payment process | 1 | 14.3% |
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 | $39,820 |
| Mid-Southern Savings Bank, FSB | 300 N Water Street Salem, IN 47167 | Full Service B&M | $100,433 |
| Mid-Southern Savings Bank, FSB | 870 South Maple Orleans, IN 47452 | Full Service B&M | $55,147 |
For 2021, Mid-southern Savings Bank Fsb had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $7,799 |
| Net interest income | $7,140 |
| Total noninterest income | $1,218 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $332 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $886 |
| Pre-tax net operating income | $2,251 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $2,046 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,046 |
| Minority interest net income | $0 |
| Net income | $2,046 |
| Sale, conversion, retirement of capital stock, net | $423 |
| Net operating income | $2,046 |
Mid-southern Savings Bank Fsb's gross interest income from loans was $7,799,000.
Mid-southern Savings Bank Fsb's net interest income from loans was $7,140,000.
Mid-southern Savings Bank Fsb's fee based income from loans was $332,000.
Mid-southern Savings Bank Fsb's net income from loans was $2,046,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $659 |
| Provision for credit losses | $-120 |
| Total noninterest expense | $6,227 |
| Salaries and employee benefits | $3,817 |
| Premises and equipment expense | $542 |
| Additional noninterest expense | $1,868 |
| Applicable income taxes | $205 |
| Net charge-offs | $-54 |
| Cash dividends | $379 |
Mid-southern Savings Bank Fsb's interest expense for loans was $659,000.
Mid-southern Savings Bank Fsb's payroll and benefits expense were $3,817,000.
Mid-southern Savings Bank Fsb's property, plant and equipment expenses $542,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| 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 | $199,951 |
| Deposits held in domestic offices | $199,951 |
| Deposits by Individuals, partnerships, and corporations | $175,867 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $24,083 |
| 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 | $88,662 |
| Demand deposits | $31,723 |
| Nontransaction accounts | $111,288 |
| Money market deposit accounts (MMDAs) | $0 |
| Other savings deposits (excluding MMDAs) | $68,403 |
| Total time deposits | $42,886 |
| Total time and savings deposits | $168,227 |
| Noninterest-bearing deposits | $31,723 |
| Interest-bearing deposits | $168,228 |
| Retail deposits | $196,153 |
| IRAs and Keogh plan accounts | $11,312 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $254,263 |
| Cash & Balances due from depository institutions | $16,380 |
| Interest-bearing balances | $15,169 |
| Total securities | $107,314 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $122,569 |
| Loan and leases loss allowance | $1,523 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,984 |
| Other real estate owned | $99 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,917 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $254,263 |
| Total Liabilities | $210,903 |
| Total deposits | $199,951 |
| Interest-bearing deposits | $168,228 |
| Deposits held in domestic offices | $199,951 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,000 |
| Subordinated debt | $0 |
| All other liabilities | $952 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $122,569 |
| Loan and leases loss allowance | $1,523 |
| Total loans and leases (domestic) | $124,092 |
| All real estate loans | $113,199 |
| Real estate loans in domestic offices | $113,199 |
| Construction and development loans | $6,767 |
| Residential 1-4 family construction | $2,721 |
| Other construction, all land development and other land | $4,046 |
| Loans secured by nonfarm nonresidential properties | $25,985 |
| Nonfarm nonresidential secured by owner-occupied properties | $13,280 |
| Commercial real estate & other non-farm, non-residential | $12,705 |
| Multifamily residential real estate | $9,237 |
| 1-4 family residential loans | $64,312 |
| Farmland loans | $6,898 |
| Loans held in foreign offices | $0 |
| Farm loans | $55 |
| Commercial and industrial loans | $8,352 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,057 |
| Credit card loans | $0 |
| Related Plans | $24 |
| Consumer Auto Loans | $1,012 |
| Other loans to individuals | $1,021 |
| All other loans & leases | $493 |
| 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 | $801 |
| Non 1-4 family restructured loans & leases | $487 |
| Total loans and leases (foreign) | $0 |
Mid-Southern Savings Bank FSB had $122,569,000 of loans outstanding in 2021. $113,199,000 of loans were in real estate loans. $6,767,000 of loans were in development loans. $9,237,000 of loans were in multifamily mortgage loans. $64,312,000 of loans were in 1-4 family mortgage loans. $55,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,012,000 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 | 61 | $14,067 | $230,607 |
| Nonfarm, nonresidential loans - <$100k | 18 | $1,011 | $56,167 |
| Nonfarm, nonresidential loans - $100-250k | 13 | $1,270 | $97,692 |
| Nonfarm, nonresidential loans - $250k-1MM | 30 | $11,786 | $392,867 |
| Commercial & Industrial, US addressed loans - <$1MM | 75 | $5,895 | $78,600 |
| Commercial & Industrial, US addressed loans - <$100k | 39 | $1,149 | $29,462 |
| Commercial & Industrial, US addressed loans - $100-250k | 22 | $1,966 | $89,364 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 14 | $2,780 | $198,571 |
| Farmland loans - <$1MM | 51 | $5,468 | $107,216 |
| Farmland loans - <$100k | 20 | $546 | $27,300 |
| Farmland loans - $100-250k | 21 | $1,941 | $92,429 |
| Farmland loans - $250k-1MM | 10 | $2,981 | $298,100 |
| Agriculture operations loans - <$1MM | 2 | $55 | $27,500 |
| Agriculture operations loans - <$100k | 2 | $55 | $27,500 |