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 various types of mortgages.

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Originations

Origination Dollar Volume (All Markets)

Employee count

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	2	5.9%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	1	2.9%
FIRST HORIZON BANK	Conventional home mortgage	Closing on a mortgage	2	5.9%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	2	5.9%
FIRST HORIZON BANK	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	2.9%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	2.9%
FIRST HORIZON BANK	Other type of mortgage	Closing on a mortgage	2	5.9%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	10	29.4%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Struggling to pay mortgage	1	2.9%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	6	17.6%
FIRST HORIZON BANK	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	2.9%
FIRST HORIZON BANK	FHA mortgage	Closing on a mortgage	1	2.9%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	2	5.9%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	2	5.9%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Southern Bank	1048 Highway 42 Petal, MS 39465	Full Service B&M	$21,271
First Southern Bank	1075 Highway 98 Columbia, MS 39429	Full Service B&M	$123,582
First Southern Bank	1321 Highway43 North Picayune, MS 39466	Full Service B&M	$22,882
First Southern Bank	3000 Hwy 589 Hattiesburg, MS 39402	Full Service B&M	$6,607
First Southern Bank	340 Second Street Columbia, MS 39429	Full Service B&M	$9,147
First Southern Bank	502 North Front Street Richton, MS 39476	Full Service B&M	$31,270

For 2021, First Southern Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$8,012
Net interest income	$7,662
Total noninterest income	$4,966
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$718
Trading account gains and fees	$0
Additional Noninterest Income	$4,248
Pre-tax net operating income	$4,129
Securities gains (or losses, -)	$0
Income before extraordinary items	$4,129
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,129
Minority interest net income	$0
Net income	$4,129
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,129

First Southern Bank's gross interest income from loans was $8,012,000.
First Southern Bank's net interest income from loans was $7,662,000.
First Southern Bank's fee based income from loans was $718,000.
First Southern Bank's net income from loans was $4,129,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$350
Provision for credit losses	$500
Total noninterest expense	$7,999
Salaries and employee benefits	$5,119
Premises and equipment expense	$765
Additional noninterest expense	$2,115
Applicable income taxes	$0
Net charge-offs	$68
Cash dividends	$2,200

First Southern Bank's interest expense for loans was $350,000.
First Southern Bank's payroll and benefits expense were $5,119,000.
First Southern Bank's property, plant and equipment expenses $765,000.

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	2.0%
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	$221,440
Deposits held in domestic offices	$221,440
Deposits by Individuals, partnerships, and corporations	$212,492
Deposits by U.S. Government	$8,948
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	$154,547
Demand deposits	$58,061
Nontransaction accounts	$66,893
Money market deposit accounts (MMDAs)	$1,246
Other savings deposits (excluding MMDAs)	$30,382
Total time deposits	$35,264
Total time and savings deposits	$163,379
Noninterest-bearing deposits	$58,008
Interest-bearing deposits	$163,432
Retail deposits	$215,571
IRAs and Keogh plan accounts	$6,563
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$247,511
Cash & Balances due from depository institutions	$31,408
Interest-bearing balances	$29,367
Total securities	$59,712
Federal funds sold & reverse repurchase	$0
Net loans and leases	$138,342
Loan and leases loss allowance	$2,150
Trading account assets	$0
Bank premises and fixed assets	$10,183
Other real estate owned	$34
Goodwill and other intangibles	$0
All other assets	$7,832

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$247,511
Total Liabilities	$221,906
Total deposits	$221,440
Interest-bearing deposits	$163,432
Deposits held in domestic offices	$221,440
% insured (estimated)	$78
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$466

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$138,342
Loan and leases loss allowance	$2,150
Total loans and leases (domestic)	$140,492
All real estate loans	$116,413
Real estate loans in domestic offices	$116,413
Construction and development loans	$7,019
Residential 1-4 family construction	$7,019
Other construction, all land development and other land	$0
Loans secured by nonfarm nonresidential properties	$48,291
Nonfarm nonresidential secured by owner-occupied properties	$23,225
Commercial real estate & other non-farm, non-residential	$25,066
Multifamily residential real estate	$5,321
1-4 family residential loans	$34,458
Farmland loans	$21,324
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$13,098
To non-U.S. addressees	$0
Loans to individuals	$10,981
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$4,551
Other loans to individuals	$6,430
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	$267
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First Southern Bank had $138,342,000 of loans outstanding in 2021. $116,413,000 of loans were in real estate loans. $7,019,000 of loans were in development loans. $5,321,000 of loans were in multifamily mortgage loans. $34,458,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,551,000 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	135	$21,233	$157,281
Nonfarm, nonresidential loans - <$100k	47	$1,956	$41,617
Nonfarm, nonresidential loans - $100-250k	52	$6,756	$129,923
Nonfarm, nonresidential loans - $250k-1MM	36	$12,521	$347,806
Commercial & Industrial, US addressed loans - <$1MM	231	$9,480	$41,039
Commercial & Industrial, US addressed loans - <$100k	195	$3,721	$19,082
Commercial & Industrial, US addressed loans - $100-250k	25	$2,330	$93,200
Commercial & Industrial, US addressed loans - $250k-1MM	11	$3,429	$311,727
Farmland loans - <$1MM	274	$15,571	$56,828
Farmland loans - <$100k	217	$7,189	$33,129
Farmland loans - $100-250k	45	$5,201	$115,578
Farmland loans - $250k-1MM	12	$3,181	$265,083