First Southern Bank Mortgage Rates, Fees & Info

Columbia, MS

LEI: 549300E3YGSOYL74CF74

Tax ID: 64-0386262

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

First Southern Bank is a smaller bank specializing in Refi and Home Purchase loans. First Southern Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Hattiesburg, Picayune, Gulfport, and Laurel among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Southern Bank 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

174

Origination Dollar Volume (All Markets)

$18,670,000

Employee count

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
HATTIESBURG, MS (FHA\|USDA\|VA)	58	$7,850,000	$135,345	$0	0.00%
Outside of Metro Areas	60	$4,450,000	$74,167	$0	0.00%
Picayune, MS (FHA\|USDA\|VA)	41	$4,015,000	$97,927	$0	0.00%
GULFPORT-BILOXI, MS (FHA\|USDA\|VA)	11	$1,865,000	$169,545	$0	0.00%
Laurel, MS (FHA\|USDA\|VA)	4	$490,000	$122,500	$0	0.00%

First Southern Bank's top markets include Hattiesburg, Picayune, Gulfport, and Laurel among others.

Their top states include:

Mississippi (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	147	$15,125,000	$102,891	$0	0.00%
FHA	17	$2,315,000	$136,176	$0	0.00%
USDA	10	$1,230,000	$123,000	$0	0.00%

For 2018, First Southern Bank's most frequently originated type of loan was Conventional, with 147 originations. Their 2nd most popular type was FHA, with 17 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	90	$7,740,000	$86,000	$0	0.00%
Home Purchase	67	$9,685,000	$144,552	$0	0.00%
Other	7	$515,000	$73,571	$0	0.00%
Home Improvement	6	$210,000	$35,000	$0	0.00%
Cash Out Refi	4	$520,000	$130,000	$0	0.00%

For 2018, First Southern Bank's most frequently cited loan purpose was Refi, with 90 originations. The 2nd most popular reason was Home Purchase, with 67 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	174	$18,670,000	$107,299	$0	0.00%

For 2018, First Southern Bank's most frequently cited loan duration was Other, with 174 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	98	$4,620,000	$47,143	$0	0.00%
$100k-200k	51	$7,115,000	$139,510	$0	0.00%
$200k-400k	24	$5,820,000	$242,500	$0	0.00%
$1MM+	1	$1,115,000	$1,115,000	$0	0.00%

2018 saw First Southern Bank place emphasis on $100,000 or less loans with 98 originations, totaling $4,620,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	51	$3,335,000	$65,392	$0	0.00%
$50k-75k	39	$3,885,000	$99,615	$0	0.00%
$75k-100k	33	$4,275,000	$129,545	$0	0.00%
$100k-150k	23	$2,915,000	$126,739	$0	0.00%
$150k-250k	9	$1,085,000	$120,556	$0	0.00%
$250k+	4	$750,000	$187,500	$0	0.00%

First Southern Bank lent most frequently to those with incomes in the $50k or less range, with 51 originations. The second most popular income band? $50k-75k, with 39 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	174	$18,670,000	$107,299	$0	0.00%

First Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 174 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	150	$15,740,000	$104,933	$0	0.00%
Not applicable	10	$2,180,000	$218,000	$0	0.00%
Black	14	$750,000	$53,571	$0	0.00%

Approval Rates

Total approvals of all applications
89.96%

First Southern Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.18%

First Southern Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	174	$18,670,000	$107,299

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$1,670,000	$417,500
Single Family (1-4 Units):Manufactured	4	$220,000	$55,000
Single Family (1-4 Units):Site-Built	166	$16,780,000	$101,084

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	7.1%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Incorrect information on your report	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Problem with a credit reporting company's investigation into an existing problem	1	7.1%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	5	35.7%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	3	21.4%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	7.1%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Southern Bank	502 North Front Street Richton, MS 39476	Full Service B&M	$19,867
First Southern Bank	5248 Old Highway 11 Hattiesburg, MS 39402	Full Service B&M	$3,541
First Southern Bank	1048 Highway 42 Petal, MS 39465	Full Service B&M	$15,606
First Southern Bank	1075 Highway 98 Columbia, MS 39429	Full Service B&M	$94,191
First Southern Bank	1321 Highway43 North Picayune, MS 39466	Full Service B&M	$21,207
First Southern Bank	340 Second Street Columbia, MS 39429	Full Service B&M	$7,805

For 2018, First Southern Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$7,975
Net interest income	$7,443
Total noninterest income	$2,013
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$946
Trading account gains and fees	$0
Additional Noninterest Income	$1,067
Pre-tax net operating income	$2,150
Securities gains (or losses, -)	$0
Income before extraordinary items	$2,150
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,150
Minority interest net income	$0
Net income	$2,150
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,150

First Southern Bank's gross interest income from loans was $7,975,000.
First Southern Bank's net interest income from loans was $7,443,000.
First Southern Bank's fee based income from loans was $946,000.
First Southern Bank's net income from loans was $2,150,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$532
Provision for credit losses	$135
Total noninterest expense	$7,171
Salaries and employee benefits	$4,585
Premises and equipment expense	$678
Additional noninterest expense	$1,908
Applicable income taxes	$0
Net charge-offs	$85
Cash dividends	$1,205

First Southern Bank's interest expense for loans was $532,000.
First Southern Bank's payroll and benefits expense were $4,585,000.
First Southern Bank's property, plant and equipment expenses $678,000.

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	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	$168,855
Deposits held in domestic offices	$168,855
Deposits by Individuals, partnerships, and corporations	$155,134
Deposits by U.S. Government	$13,721
Deposits by States and political subdivisions in the U.S.	$0
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	$111,245
Demand deposits	$40,358
Nontransaction accounts	$57,610
Money market deposit accounts (MMDAs)	$1,683
Other savings deposits (excluding MMDAs)	$16,707
Total time deposits	$39,220
Total time and savings deposits	$128,497
Noninterest-bearing deposits	$40,251
Interest-bearing deposits	$128,604
Retail deposits	$162,722
IRAs and Keogh plan accounts	$6,587
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$190,441
Cash & Balances due from depository institutions	$8,088
Interest-bearing balances	$3,561
Total securities	$30,742
Federal funds sold & reverse repurchase	$0
Net loans and leases	$137,114
Loan and leases loss allowance	$1,459
Trading account assets	$0
Bank premises and fixed assets	$7,267
Other real estate owned	$303
Goodwill and other intangibles	$0
All other assets	$6,927

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$190,441
Total Liabilities	$169,225
Total deposits	$168,855
Interest-bearing deposits	$128,604
Deposits held in domestic offices	$168,855
% insured (estimated)	$79
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$23
Subordinated debt	$0
All other liabilities	$347

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$137,114
Loan and leases loss allowance	$1,459
Total loans and leases (domestic)	$138,573
All real estate loans	$115,705
Real estate loans in domestic offices	$115,705
Construction and development loans	$5,064
Residential 1-4 family construction	$5,064
Other construction, all land development and other land	$0
Loans secured by nonfarm nonresidential properties	$49,639
Nonfarm nonresidential secured by owner-occupied properties	$22,714
Commercial real estate & other non-farm, non-residential	$26,925
Multifamily residential real estate	$5,534
1-4 family residential loans	$34,801
Farmland loans	$20,667
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$11,408
To non-U.S. addressees	$0
Loans to individuals	$11,461
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$3,794
Other loans to individuals	$7,667
All other loans & leases	$0
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First Southern Bank had $137,114,000 of loans outstanding in 2018. $115,705,000 of loans were in real estate loans. $5,064,000 of loans were in development loans. $5,534,000 of loans were in multifamily mortgage loans. $34,801,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,794,000 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	146	$21,613	$148,034
Nonfarm, nonresidential loans - <$100k	54	$2,291	$42,426
Nonfarm, nonresidential loans - $100-250k	56	$7,024	$125,429
Nonfarm, nonresidential loans - $250k-1MM	36	$12,298	$341,611
Commercial & Industrial, US addressed loans - <$1MM	229	$11,396	$49,764
Commercial & Industrial, US addressed loans - <$100k	195	$3,844	$19,713
Commercial & Industrial, US addressed loans - $100-250k	23	$3,112	$135,304
Commercial & Industrial, US addressed loans - $250k-1MM	11	$4,440	$403,636
Farmland loans - <$1MM	286	$14,095	$49,283
Farmland loans - <$100k	246	$8,077	$32,833
Farmland loans - $100-250k	32	$3,814	$119,188
Farmland loans - $250k-1MM	8	$2,204	$275,500