South Central Bank Mortgage Rates, Fees & Info
GLASGOW, KYLEI: 549300LPT41QBMAC7948
Tax ID: 61-0126170
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Overview
South Central Bank is a smaller bank specializing in Home Purchase and Refi loans. South Central Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Elizabethtown, Bowling Green, Louisville/jefferson County, Glasgow, and Owensboro among others. South Central Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. South Central Bank is typically a low fee lendor.Originations
2,478Origination Dollar Volume (All Markets)
$457,500,000Employee count
274Awards
SOUTH CENTRAL BANK - 2021
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Relative Rate
South Central Bank 's average 30 year fixed rate mortgage of loans were
2.93%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.22%.
Relative Fees
South Central Bank 's average total fees for a 30 year fixed rate
mortgage are $3,251.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 476 | $96,130,000 | $201,954 | $3,496 | 2.92% |
| BOWLING GREEN, KY (FHA|USDA|VA) | 557 | $86,705,000 | $155,664 | $2,676 | 3.25% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 223 | $64,405,000 | $288,812 | $3,015 | 3.08% |
| Outside of Metro Areas | 346 | $46,520,000 | $134,451 | $2,881 | 3.38% |
| Glasgow, KY (FHA|USDA|VA) | 324 | $40,640,000 | $125,432 | $2,452 | 3.42% |
| OWENSBORO, KY (FHA|USDA|VA) | 181 | $32,625,000 | $180,249 | $2,942 | 3.30% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 118 | $27,000,000 | $228,814 | $3,102 | 3.21% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 48 | $12,340,000 | $257,083 | $3,420 | 3.25% |
| Bardstown, KY (FHA|USDA|VA) | 27 | $5,125,000 | $189,815 | $3,281 | 3.03% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 23 | $4,685,000 | $203,696 | $2,885 | 2.90% |
| Somerset, KY (FHA|USDA|VA) | 31 | $4,425,000 | $142,742 | $3,275 | 3.98% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 8 | $4,020,000 | $502,500 | $3,823 | 3.76% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $3,220,000 | $1,610,000 | $4,230 | 3.06% |
| Sevierville, TN (FHA|USDA|VA) | 4 | $3,030,000 | $757,500 | $4,469 | 3.47% |
| Richmond-Berea, KY (FHA|USDA|VA) | 10 | $2,470,000 | $247,000 | $3,159 | 3.09% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $2,330,000 | $1,165,000 | $3,977 | 3.44% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $1,805,000 | $257,857 | $3,002 | 3.13% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 7 | $1,235,000 | $176,429 | $2,499 | 3.18% |
| Frankfort, KY (FHA|USDA|VA) | 7 | $1,145,000 | $163,571 | $4,009 | 3.34% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $1,120,000 | $560,000 | $3,939 | 2.94% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $5,114 | 2.63% |
| MORRISTOWN, TN (FHA|USDA|VA) | 1 | $855,000 | $855,000 | $0 | 4.00% |
| Campbellsville, KY (FHA|USDA|VA) | 8 | $840,000 | $105,000 | $2,857 | 3.27% |
| Tullahoma-Manchester, TN (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $2,916 | 2.56% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 3 | $775,000 | $258,333 | $2,990 | 3.21% |
| MERCED, CA (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $0 | 2.75% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 2 | $760,000 | $380,000 | $0 | 3.45% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $2,801 | 2.56% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $0 | 3.95% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $2,752 | 2.31% |
| Cullman, AL (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $3,620 | 3.25% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $3,233 | 3.13% |
| Central City, KY (FHA|USDA|VA) | 4 | $430,000 | $107,500 | $3,084 | 3.19% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,120 | 2.50% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 4.00% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 3.49% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,478 | 2.94% |
| ROME, GA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,330 | 1.88% |
| Key West, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,212 | 3.13% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $3,404 | 2.13% |
| PITTSBURGH, PA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $3,490 | 3.06% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,905 | 3.38% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 3.75% |
| Danville, KY (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,359 | 3.50% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,305 | 2.75% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $7,052 | 2.88% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $2,296 | 2.56% |
| Shelbyville, TN (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 4.25% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,406 | 2.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,463 | 3.00% |
| Mount Sterling, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,599 | 2.63% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,102 | 2.75% |
| FORT WAYNE, IN (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $5,423 | 2.75% |
| London, KY (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $2,576 | 2.94% |
| Crossville, TN (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,629 | 2.88% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,616 | 3.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,436 | 2.13% |
| Mayfield, KY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,943 | 2.63% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,831 | 2.63% |
| LAWTON, OK (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,570 | 3.63% |
| Effingham, IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 4.75% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,564 | 2.88% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.25% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,303 | 2.13% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,501 | 3.38% |
| Murray, KY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $2,971 | 3.25% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 4.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,383 | 2.25% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.00% |
South Central Bank 's top markets include Elizabethtown, Bowling Green, Louisville/jefferson County, Glasgow, and Owensboro among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 2,152 | $390,370,000 | $181,399 | $2,530 | 3.28% |
| FHA | 130 | $20,450,000 | $157,308 | $5,368 | 2.94% |
| VA | 130 | $36,230,000 | $278,692 | $4,800 | 2.64% |
| USDA | 66 | $10,450,000 | $158,333 | $4,174 | 2.70% |
For the 2021 period, South Central Bank 's most frequently originated loan type of loans were Conventional, with 2,152 originations. Their 2nd most popular type is FHA, with 130 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 882 | $191,680,000 | $217,324 | $3,706 | 3.23% |
| Refi | 869 | $159,525,000 | $183,573 | $2,458 | 2.94% |
| Cash Out Refi | 395 | $78,985,000 | $199,962 | $2,668 | 3.02% |
| Other | 176 | $15,620,000 | $88,750 | $0 | 4.14% |
| Home Improvement | 156 | $11,690,000 | $74,936 | $2,006 | 4.08% |
For the 2021, South Central Bank 's most frequently cited loan purpose of loans were Home Purchase, with 882 originations. The 2nd most popular reason of loans were Refi, with 869 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,158 | $242,060,000 | $209,033 | $3,251 | 2.93% |
| 10 Year | 418 | $43,090,000 | $103,086 | $1,848 | 4.00% |
| 15 Year | 414 | $65,180,000 | $157,440 | $2,421 | 2.48% |
| 20 Year | 207 | $36,765,000 | $177,609 | $2,574 | 3.45% |
| 5 Year | 148 | $22,400,000 | $151,351 | $896 | 4.22% |
| Other | 86 | $38,710,000 | $450,116 | $2,684 | 3.98% |
| 1 Year | 41 | $7,955,000 | $194,024 | $3,659 | 4.22% |
| 3 Year | 6 | $1,340,000 | $223,333 | $0 | 3.87% |
For the 2021, South Central Bank 's most frequently cited loan length of loans were 30 Year, with 1,158 originations. The 2nd most popular length of loans were 10 Year, with 418 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,570 | $305,600,000 | $194,650 |
| $1k-2k | 92 | $21,790,000 | $236,848 |
| $2k-3k | 11 | $3,315,000 | $301,364 |
| $3k-4k | 4 | $1,690,000 | $422,500 |
$3,251 of loans were South Central Bank 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,570 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 992 | $183,960,000 | $185,444 |
| 2.5-3% | 709 | $147,595,000 | $208,173 |
| <2.5% | 562 | $104,210,000 | $185,427 |
| 4-5% | 172 | $19,510,000 | $113,430 |
| 5-6% | 32 | $1,810,000 | $56,563 |
| 7-8% | 8 | $220,000 | $27,500 |
| 6-7% | 3 | $195,000 | $65,000 |
During 2021, South Central Bank 's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were 3-4%, with 992 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-200k | 959 | $139,425,000 | $145,386 | $2,872 | 3.07% |
| $100,000 or less | 725 | $43,615,000 | $60,159 | $2,338 | 3.67% |
| $200k-400k | 648 | $175,160,000 | $270,309 | $3,332 | 2.94% |
| $400k-600k | 117 | $56,005,000 | $478,675 | $3,607 | 2.95% |
| $1MM+ | 16 | $33,260,000 | $2,078,750 | $13,884 | 3.67% |
| $600k-1MM | 13 | $10,035,000 | $771,923 | $7,082 | 3.79% |
2021 saw South Central Bank place emphasis on $100k-200k loans with 959 originations, totaling $139,425,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $50k or less | 566 | $62,510,000 | $110,442 | $2,848 | 3.20% |
| $50k-75k | 565 | $80,905,000 | $143,195 | $3,018 | 3.18% |
| $100k-150k | 434 | $89,220,000 | $205,576 | $3,117 | 3.11% |
| $75k-100k | 373 | $63,885,000 | $171,273 | $3,005 | 3.09% |
| $150k-250k | 226 | $60,510,000 | $267,743 | $2,974 | 3.15% |
| $250k+ | 87 | $35,175,000 | $404,310 | $3,566 | 3.28% |
South Central Bank lent most frequently to those with incomes in the $50k or less range, with 566 originations. The second most popular income band? $50k-75k, with 565 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 591 | $93,755,000 | $158,638 | $2,773 | 3.10% |
| 30-36% | 383 | $64,485,000 | $168,368 | $2,969 | 3.14% |
| <20% | 316 | $47,670,000 | $150,854 | $2,582 | 3.23% |
| 37% | 79 | $14,215,000 | $179,937 | $3,144 | 3.08% |
| 42% | 72 | $12,130,000 | $168,472 | $3,223 | 3.06% |
| 38% | 69 | $16,575,000 | $240,217 | $3,497 | 3.10% |
| 40% | 66 | $10,890,000 | $165,000 | $3,268 | 3.03% |
| 41% | 64 | $11,500,000 | $179,688 | $2,993 | 3.13% |
| 44% | 63 | $12,445,000 | $197,540 | $3,205 | 3.05% |
| 39% | 63 | $10,805,000 | $171,508 | $3,195 | 3.07% |
| 45% | 59 | $13,295,000 | $225,339 | $3,600 | 2.94% |
| 43% | 58 | $10,220,000 | $176,207 | $2,900 | 2.87% |
| 36% | 57 | $9,505,000 | $166,754 | $2,800 | 3.16% |
| 50-60% | 43 | $8,975,000 | $208,721 | $4,291 | 3.15% |
| 49% | 42 | $8,310,000 | $197,857 | $3,355 | 2.80% |
| 46% | 37 | $9,635,000 | $260,405 | $3,444 | 2.89% |
| 47% | 32 | $6,250,000 | $195,313 | $2,841 | 3.00% |
| 48% | 23 | $4,825,000 | $209,783 | $3,251 | 2.79% |
| >60% | 6 | $1,170,000 | $195,000 | $4,825 | 3.81% |
South Central Bank lent most frequently to those with DTI ratios of 20-30%, with 591 originations. The next most common DTI ratio? 30-36%, with 383 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,050 | $352,680,000 | $172,039 | $2,940 | 3.18% |
| Not applicable | 190 | $57,310,000 | $301,632 | $0 | 3.93% |
| Not provided | 135 | $26,945,000 | $199,593 | $3,529 | 2.85% |
| Black | 42 | $7,780,000 | $185,238 | $3,415 | 3.13% |
| Asian | 29 | $5,955,000 | $205,345 | $3,035 | 2.95% |
| Asian Indian | 8 | $2,340,000 | $292,500 | $2,953 | 2.72% |
| American Indian | 10 | $2,190,000 | $219,000 | $2,911 | 2.83% |
| Other Asian | 6 | $1,230,000 | $205,000 | $2,270 | 2.67% |
| Vietnamese | 4 | $580,000 | $145,000 | $2,833 | 2.47% |
| Korean | 2 | $340,000 | $170,000 | $2,834 | 3.69% |
| Other Pacific Islander | 1 | $105,000 | $105,000 | $0 | 5.25% |
| Native Hawaiian | 1 | $45,000 | $45,000 | $0 | 5.25% |
Approval Rates
Total approvals of all applications88.79%
South Central Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.33%
South Central Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 2,478 | $457,500,000 | $184,625 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2,478 | $457,500,000 | $184,625 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 266 | $28,340,000 | $106,541 | $2,393 | 3.48% |
| 40-60% | 401 | $62,915,000 | $156,895 | $2,451 | 2.92% |
| 60-80% | 790 | $161,340,000 | $204,228 | $2,552 | 3.13% |
| 80-100% | 771 | $182,505,000 | $236,712 | $3,639 | 3.18% |
| Over 100% | 23 | $5,585,000 | $242,826 | $9,241 | 2.76% |
| Under 20% | 204 | $10,440,000 | $51,176 | $2,615 | 4.05% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| South Central Bank, Inc. | 1000 North Dixie Avenue Elizabethtown, KY 42702 | Full Service B&M | $146,602 |
| South Central Bank, Inc. | 2000 Warrington Way, Ste 200 Louisville, KY 40222 | Full Service B&M | $52,673 |
| South Central Bank, Inc. | 204 South Main Street Franklin, KY 42134 | Full Service B&M | $32,050 |
| South Central Bank, Inc. | 208 South Broadway Glasgow, KY 42141 | Full Service B&M | $266,194 |
| South Central Bank, Inc. | 2710 Nashville Road Bowling Green, KY 42101 | Full Service B&M | $5,179 |
| South Central Bank, Inc. | 2715 Frederica Street Owensboro, KY 42301 | Full Service B&M | $45,824 |
| South Central Bank, Inc. | 2908 Ring Road Elizabethtown, KY 42702 | Full Service B&M | $70,905 |
| South Central Bank, Inc. | 300 Southtown Boulevard Owensboro, KY 42303 | Full Service B&M | $57,911 |
| South Central Bank, Inc. | 3010 Highway 54 Owensboro, KY 42303 | Full Service B&M | $59,979 |
| South Central Bank, Inc. | 3505 Louisville Road Bowling Green, KY 42101 | Full Service B&M | $32,483 |
| South Central Bank, Inc. | 386 Waller Avenue Lexington, KY 40504 | Full Service B&M | $98,511 |
| South Central Bank, Inc. | 414 East Main St Scottsville, KY 42164 | Full Service B&M | $29,500 |
| South Central Bank, Inc. | 501 S L Rogers Wells Blvd Glasgow, KY 42141 | Full Service Cyber Office | $3,875 |
| South Central Bank, Inc. | 518 North Dixie Highway Cave City, KY 42127 | Full Service B&M | $25,665 |
| South Central Bank, Inc. | 5251 Scottsville Road Bowling Green, KY 42104 | Full Service B&M | $37,589 |
| South Central Bank, Inc. | 615 Happy Valley Road Glasgow, KY 42141 | Full Service B&M | $27,708 |
| South Central Bank, Inc. | 704 W. Stockton Edmonton, KY 42129 | Full Service B&M | $17,774 |
| South Central Bank, Inc. | 805 Lehman Avenue Bowling Green, KY 42103 | Full Service B&M | $60,407 |
| South Central Bank, Inc. | Fourth And Main Street Tompkinsville, KY 42167 | Full Service B&M | $83,936 |
| South Central Bank, Inc. | Gorin And Second Streets Park City, KY 42160 | Full Service B&M | $11,625 |
| South Central Bank, Inc. | 1375 Carter Road Owensboro, KY 42301 | Full Service B&M | $29,139 |
| South Central Bank, Inc. | 165 Beaver Trail South Glasgow, KY 42141 | Full Service B&M | $11,991 |
| South Central Bank, Inc. | 1748 Edmonton Road Tompkinsville, KY 42167 | Full Service B&M | $14,449 |
| South Central Bank, Inc. | 1757 Campbell Lane Bowling Green, KY 42104 | Full Service B&M | $115,779 |
| South Central Bank, Inc. | 2 Main Street Fountain Run, KY 42133 | Full Service B&M | $12,788 |
For 2021, South Central Bank had 25 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $55,761 |
| Net interest income | $50,487 |
| Total noninterest income | $19,443 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $2,056 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $17,387 |
| Pre-tax net operating income | $30,323 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $23,020 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $23,020 |
| Minority interest net income | $0 |
| Net income | $23,020 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $23,020 |
South Central Bank 's gross interest income from loans was $55,761,000.
South Central Bank 's net interest income from loans was $50,487,000.
South Central Bank 's fee based income from loans was $2,056,000.
South Central Bank 's net income from loans was $23,020,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,274 |
| Provision for credit losses | $721 |
| Total noninterest expense | $38,886 |
| Salaries and employee benefits | $21,334 |
| Premises and equipment expense | $4,317 |
| Additional noninterest expense | $13,235 |
| Applicable income taxes | $7,303 |
| Net charge-offs | $128 |
| Cash dividends | $9,000 |
South Central Bank 's interest expense for loans was $5,274,000.
South Central Bank 's payroll and benefits expense were $21,334,000.
South Central Bank 's property, plant and equipment expenses $4,317,000.
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 | 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 | $1,386,016 |
| Deposits held in domestic offices | $1,386,016 |
| Deposits by Individuals, partnerships, and corporations | $1,231,202 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $154,814 |
| 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 | $183,638 |
| Demand deposits | $55,159 |
| Nontransaction accounts | $1,202,378 |
| Money market deposit accounts (MMDAs) | $117,151 |
| Other savings deposits (excluding MMDAs) | $854,014 |
| Total time deposits | $231,213 |
| Total time and savings deposits | $1,330,857 |
| Noninterest-bearing deposits | $376,719 |
| Interest-bearing deposits | $1,009,297 |
| Retail deposits | $1,340,877 |
| IRAs and Keogh plan accounts | $40,941 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,591,396 |
| Cash & Balances due from depository institutions | $91,175 |
| Interest-bearing balances | $71,380 |
| Total securities | $360,521 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,097,698 |
| Loan and leases loss allowance | $11,644 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $16,678 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $8,545 |
| All other assets | $16,779 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,591,396 |
| Total Liabilities | $1,436,297 |
| Total deposits | $1,386,016 |
| Interest-bearing deposits | $1,009,297 |
| Deposits held in domestic offices | $1,386,016 |
| % insured (estimated) | $71 |
| Federal funds purchased and repurchase agreements | $27,944 |
| Trading liabilities | $0 |
| Other borrowed funds | $12,000 |
| Subordinated debt | $0 |
| All other liabilities | $10,337 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,097,698 |
| Loan and leases loss allowance | $11,644 |
| Total loans and leases (domestic) | $1,109,342 |
| All real estate loans | $960,293 |
| Real estate loans in domestic offices | $960,293 |
| Construction and development loans | $164,550 |
| Residential 1-4 family construction | $35,846 |
| Other construction, all land development and other land | $128,704 |
| Loans secured by nonfarm nonresidential properties | $369,534 |
| Nonfarm nonresidential secured by owner-occupied properties | $155,440 |
| Commercial real estate & other non-farm, non-residential | $214,094 |
| Multifamily residential real estate | $55,438 |
| 1-4 family residential loans | $266,059 |
| Farmland loans | $104,712 |
| Loans held in foreign offices | $0 |
| Farm loans | $28,085 |
| Commercial and industrial loans | $100,001 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $19,217 |
| Credit card loans | $0 |
| Related Plans | $136 |
| Consumer Auto Loans | $11,773 |
| Other loans to individuals | $7,308 |
| All other loans & leases | $1,746 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $272 |
| 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 | $1,794 |
| Non 1-4 family restructured loans & leases | $468 |
| Total loans and leases (foreign) | $0 |
SOUTH CENTRAL BANK had $1,097,698,000 of loans outstanding in 2021. $960,293,000 of loans were in real estate loans. $164,550,000 of loans were in development loans. $55,438,000 of loans were in multifamily mortgage loans. $266,059,000 of loans were in 1-4 family mortgage loans. $28,085,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,773,000 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 | 616 | $139,413 | $226,320 |
| Nonfarm, nonresidential loans - <$100k | 241 | $11,679 | $48,461 |
| Nonfarm, nonresidential loans - $100-250k | 181 | $30,636 | $169,260 |
| Nonfarm, nonresidential loans - $250k-1MM | 194 | $97,098 | $500,505 |
| Commercial & Industrial, US addressed loans - <$1MM | 995 | $70,254 | $70,607 |
| Commercial & Industrial, US addressed loans - <$100k | 828 | $22,486 | $27,157 |
| Commercial & Industrial, US addressed loans - $100-250k | 106 | $17,603 | $166,066 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 61 | $30,165 | $494,508 |
| Farmland loans - <$1MM | 782 | $75,576 | $96,645 |
| Farmland loans - <$100k | 512 | $21,931 | $42,834 |
| Farmland loans - $100-250k | 206 | $31,968 | $155,184 |
| Farmland loans - $250k-1MM | 64 | $21,677 | $338,703 |
| Agriculture operations loans - <$1MM | 583 | $12,291 | $21,082 |
| Agriculture operations loans - <$100k | 569 | $10,233 | $17,984 |
| Agriculture operations loans - $100-250k | 14 | $2,058 | $147,000 |
