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. 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.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

Originations

113

Origination Dollar Volume (All Markets)

$8,735,000

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
Outside of Metro Areas	51	$3,785,000	$74,216	$0	0.00%
HATTIESBURG, MS (FHA\|USDA\|VA)	35	$2,785,000	$79,571	$0	0.00%
Picayune, MS (FHA\|USDA\|VA)	18	$1,440,000	$80,000	$0	0.00%
GULFPORT-BILOXI, MS (FHA\|USDA\|VA)	8	$690,000	$86,250	$0	0.00%
Laurel, MS (FHA\|USDA\|VA)	1	$35,000	$35,000	$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	113	$8,735,000	$77,301	$0	0.00%

For 2019, First Southern Bank's most frequently originated type of loan was Conventional, with 113 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	74	$5,180,000	$70,000	$0	0.00%
Home Purchase	23	$2,495,000	$108,478	$0	0.00%
Other	10	$870,000	$87,000	$0	0.00%
Home Improvement	6	$190,000	$31,667	$0	0.00%

For 2019, First Southern Bank's most frequently cited loan purpose was Refi, with 74 originations. The 2nd most popular reason was Home Purchase, with 23 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	113	$8,735,000	$77,301	$0	0.00%

For 2019, First Southern Bank's most frequently cited loan duration was Other, with 113 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	83	$3,535,000	$42,590	$0	0.00%
$100k-200k	21	$2,955,000	$140,714	$0	0.00%
$200k-400k	9	$2,245,000	$249,444	$0	0.00%

2019 saw First Southern Bank place emphasis on $100,000 or less loans with 83 originations, totaling $3,535,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	25	$1,175,000	$47,000	$0	0.00%
$100k-150k	24	$1,820,000	$75,833	$0	0.00%
$75k-100k	19	$1,845,000	$97,105	$0	0.00%
$50k-75k	15	$905,000	$60,333	$0	0.00%
$150k-250k	13	$1,305,000	$100,385	$0	0.00%
$250k+	4	$480,000	$120,000	$0	0.00%

First Southern Bank lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $100k-150k, with 24 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	113	$8,735,000	$77,301	$0	0.00%

First Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 113 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	95	$7,305,000	$76,895	$0	0.00%
Not applicable	12	$1,140,000	$95,000	$0	0.00%
Black	6	$290,000	$48,333	$0	0.00%

Approval Rates

Total approvals of all applications
87.74%

First Southern Bank has an average approval rate.

Pick Rate

Approvals leading to origination
80.53%

First Southern Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	113	$8,735,000	$77,301

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	3	$715,000	$238,333
Single Family (1-4 Units):Manufactured	4	$60,000	$15,000
Single Family (1-4 Units):Site-Built	106	$7,960,000	$75,094

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	4	26.7%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	6.7%
FIRST HORIZON BANK	VA mortgage	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	6.7%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	3	20.0%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	2	13.3%
FIRST HORIZON BANK	FHA mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	1	6.7%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Southern Bank	1048 Highway 42 Petal, MS 39465	Full Service B&M	$15,447
First Southern Bank	1075 Highway 98 Columbia, MS 39429	Full Service B&M	$95,078
First Southern Bank	1321 Highway43 North Picayune, MS 39466	Full Service B&M	$20,956
First Southern Bank	340 Second Street Columbia, MS 39429	Full Service B&M	$7,391
First Southern Bank	502 North Front Street Richton, MS 39476	Full Service B&M	$23,400
First Southern Bank	5248 Old Highway 11 Hattiesburg, MS 39402	Full Service B&M	$4,514

For 2019, First Southern Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$8,700
Net interest income	$7,829
Total noninterest income	$1,965
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$892
Trading account gains and fees	$0
Additional Noninterest Income	$1,073
Pre-tax net operating income	$2,369
Securities gains (or losses, -)	$0
Income before extraordinary items	$2,369
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,369
Minority interest net income	$0
Net income	$2,369
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,369

First Southern Bank's gross interest income from loans was $8,700,000.
First Southern Bank's net interest income from loans was $7,829,000.
First Southern Bank's fee based income from loans was $892,000.
First Southern Bank's net income from loans was $2,369,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$871
Provision for credit losses	$130
Total noninterest expense	$7,295
Salaries and employee benefits	$4,538
Premises and equipment expense	$680
Additional noninterest expense	$2,077
Applicable income taxes	$0
Net charge-offs	$-5
Cash dividends	$1,430

First Southern Bank's interest expense for loans was $871,000.
First Southern Bank's payroll and benefits expense were $4,538,000.
First Southern Bank's property, plant and equipment expenses $680,000.

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	$172,579
Deposits held in domestic offices	$172,579
Deposits by Individuals, partnerships, and corporations	$159,347
Deposits by U.S. Government	$13,232
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	$104,970
Demand deposits	$38,498
Nontransaction accounts	$67,609
Money market deposit accounts (MMDAs)	$1,369
Other savings deposits (excluding MMDAs)	$19,605
Total time deposits	$46,635
Total time and savings deposits	$134,081
Noninterest-bearing deposits	$38,422
Interest-bearing deposits	$134,157
Retail deposits	$163,545
IRAs and Keogh plan accounts	$6,748
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$195,772
Cash & Balances due from depository institutions	$14,454
Interest-bearing balances	$8,872
Total securities	$29,364
Federal funds sold & reverse repurchase	$0
Net loans and leases	$136,937
Loan and leases loss allowance	$1,594
Trading account assets	$0
Bank premises and fixed assets	$8,339
Other real estate owned	$100
Goodwill and other intangibles	$0
All other assets	$6,578

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$195,772
Total Liabilities	$172,947
Total deposits	$172,579
Interest-bearing deposits	$134,157
Deposits held in domestic offices	$172,579
% insured (estimated)	$81
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$368

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$136,937
Loan and leases loss allowance	$1,594
Total loans and leases (domestic)	$138,531
All real estate loans	$114,684
Real estate loans in domestic offices	$114,684
Construction and development loans	$4,825
Residential 1-4 family construction	$4,825
Other construction, all land development and other land	$0
Loans secured by nonfarm nonresidential properties	$49,668
Nonfarm nonresidential secured by owner-occupied properties	$22,671
Commercial real estate & other non-farm, non-residential	$26,997
Multifamily residential real estate	$3,931
1-4 family residential loans	$33,994
Farmland loans	$22,266
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$11,949
To non-U.S. addressees	$0
Loans to individuals	$11,898
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$4,395
Other loans to individuals	$7,503
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	$175
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First Southern Bank had $136,937,000 of loans outstanding in 2019. $114,684,000 of loans were in real estate loans. $4,825,000 of loans were in development loans. $3,931,000 of loans were in multifamily mortgage loans. $33,994,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,395,000 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	154	$22,160	$143,896
Nonfarm, nonresidential loans - <$100k	60	$2,679	$44,650
Nonfarm, nonresidential loans - $100-250k	55	$6,700	$121,818
Nonfarm, nonresidential loans - $250k-1MM	39	$12,781	$327,718
Commercial & Industrial, US addressed loans - <$1MM	242	$11,949	$49,376
Commercial & Industrial, US addressed loans - <$100k	205	$4,215	$20,561
Commercial & Industrial, US addressed loans - $100-250k	24	$3,026	$126,083
Commercial & Industrial, US addressed loans - $250k-1MM	13	$4,708	$362,154
Farmland loans - <$1MM	293	$16,321	$55,703
Farmland loans - <$100k	244	$8,193	$33,578
Farmland loans - $100-250k	33	$3,766	$114,121
Farmland loans - $250k-1MM	16	$4,362	$272,625