Mutual Savings Bank Mortgage Rates, Fees & Info

Franklin, IN

LEI: 549300MOTRV68OSXM837

Tax ID: 35-0536745

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Mutual Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Mutual Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Columbus, and Bloomington among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mutual Savings Bank has an above 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.21% 12/16/24
    30 Year Conventional Refi 6.53% 12/16/24
    30 Year Cash-out Refi 7.05% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 5.96% 12/16/24
    15 Year Conventional Refi 6.44% 12/16/24
    15 Year Cash-out Refi 6.44% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Mutual Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Mutual Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    93

    Origination Dollar Volume (All Markets)

    $15,515,000

    Employee count

    40

    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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 89 $14,635,000 $164,438 $0 0.00%
    COLUMBUS, IN (FHA|USDA|VA) 2 $710,000 $355,000 $0 0.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 2 $170,000 $85,000 $0 0.00%
    Mutual Savings Bank's top markets include Indianapolis, Columbus, and Bloomington among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Mutual Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Greenfield Banking Company
    Similarity Rank: 255
    Hendricks County Bank and Trust Company
    Similarity Rank: 393
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    The Farmers Bank, Frankfort, Indiana
    Similarity Rank: 814
    The National Bank of Indianapolis
    Similarity Rank: 1020
    Stock Yards Bank & Trust Company
    Similarity Rank: 1176
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 1278
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1482
    FORUM Credit Union
    Similarity Rank: 1520

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 93 $15,515,000 $166,828 $0 0.00%

    For 2018, Mutual Savings Bank's most frequently originated type of loan was Conventional, with 93 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 51 $7,655,000 $150,098 $0 0.00%
    Refi 24 $4,850,000 $202,083 $0 0.00%
    Cash Out Refi 18 $3,010,000 $167,222 $0 0.00%

    For 2018, Mutual Savings Bank's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 93 $15,515,000 $166,828 $0 0.00%

    For 2018, Mutual Savings Bank's most frequently cited loan duration was Other, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 40 $5,850,000 $146,250 $0 0.00%
    $200k-400k 29 $7,595,000 $261,897 $0 0.00%
    $100,000 or less 23 $1,615,000 $70,217 $0 0.00%
    $400k-600k 1 $455,000 $455,000 $0 0.00%

    2018 saw Mutual Savings Bank place emphasis on $100k-200k loans with 40 originations, totaling $5,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 22 $4,330,000 $196,818 $0 0.00%
    $50k-75k 18 $2,550,000 $141,667 $0 0.00%
    $50k or less 18 $1,760,000 $97,778 $0 0.00%
    $75k-100k 13 $2,325,000 $178,846 $0 0.00%
    $150k-250k 7 $1,645,000 $235,000 $0 0.00%
    $250k+ 2 $800,000 $400,000 $0 0.00%

    Mutual Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $50k-75k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 93 $15,515,000 $166,828 $0 0.00%

    Mutual Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $13,410,000 $167,625 $0 0.00%
    Not applicable 13 $2,105,000 $161,923 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.30%

    Mutual Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.89%

    Mutual Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 93 $15,515,000 $166,828

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $215,000 $215,000
    Single Family (1-4 Units):Manufactured 2 $160,000 $80,000
    Single Family (1-4 Units):Site-Built 90 $15,140,000 $168,222

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Mutual Savings Bank 1070 West Jefferson Street Franklin, IN 46131 Full Service B&M $8,099
    Mutual Savings Bank 1124 North Main Street Franklin, IN 46131 Full Service B&M $40,069
    Mutual Savings Bank 2 Trafalgar Square Trafalgar, IN 46181 Full Service B&M $23,219
    Mutual Savings Bank 7459 South Nineveh Road Nineveh, IN 46164 Full Service B&M $10,193
    Mutual Savings Bank 80 East Jefferson Street Franklin, IN 46131 Full Service B&M $38,550

    For 2018, Mutual Savings Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,303
    Net interest income $5,391
    Total noninterest income $1,145
    Gross Fiduciary activities income $49
    Service charges on deposit accounts $145
    Trading account gains and fees $0
    Additional Noninterest Income $951
    Pre-tax net operating income $1,414
    Securities gains (or losses, -) $-2
    Income before extraordinary items $1,092
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,092
    Minority interest net income $0
    Net income $1,092
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,093

    Mutual Savings Bank's gross interest income from loans was $6,303,000.
    Mutual Savings Bank's net interest income from loans was $5,391,000.
    Mutual Savings Bank's fee based income from loans was $145,000.
    Mutual Savings Bank's net income from loans was $1,092,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $912
    Provision for credit losses $243
    Total noninterest expense $4,879
    Salaries and employee benefits $2,703
    Premises and equipment expense $401
    Additional noninterest expense $1,775
    Applicable income taxes $320
    Net charge-offs $7
    Cash dividends $83

    Mutual Savings Bank's interest expense for loans was $912,000.
    Mutual Savings Bank's payroll and benefits expense were $2,703,000.
    Mutual Savings Bank's property, plant and equipment expenses $401,000.

    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 $124,559
    Deposits held in domestic offices $124,559
    Deposits by Individuals, partnerships, and corporations $109,104
    Deposits by U.S. Government $226
    Deposits by States and political subdivisions in the U.S. $15,229
    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 $48,119
    Demand deposits $21,914
    Nontransaction accounts $76,440
    Money market deposit accounts (MMDAs) $30,722
    Other savings deposits (excluding MMDAs) $14,499
    Total time deposits $31,219
    Total time and savings deposits $102,645
    Noninterest-bearing deposits $21,710
    Interest-bearing deposits $102,849
    Retail deposits $114,666
    IRAs and Keogh plan accounts $1,810
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $159,005
    Cash & Balances due from depository institutions $3,296
    Interest-bearing balances $2,131
    Total securities $18,085
    Federal funds sold & reverse repurchase $267
    Net loans and leases $129,097
    Loan and leases loss allowance $1,338
    Trading account assets $0
    Bank premises and fixed assets $1,781
    Other real estate owned $298
    Goodwill and other intangibles $212
    All other assets $5,969

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $159,005
    Total Liabilities $142,759
    Total deposits $124,559
    Interest-bearing deposits $102,849
    Deposits held in domestic offices $124,559
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $17,500
    Subordinated debt $0
    All other liabilities $700

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $129,097
    Loan and leases loss allowance $1,338
    Total loans and leases (domestic) $130,435
    All real estate loans $117,939
    Real estate loans in domestic offices $117,939
    Construction and development loans $5,907
    Residential 1-4 family construction $3,503
    Other construction, all land development and other land $2,404
    Loans secured by nonfarm nonresidential properties $51,441
    Nonfarm nonresidential secured by owner-occupied properties $33,040
    Commercial real estate & other non-farm, non-residential $18,401
    Multifamily residential real estate $3,597
    1-4 family residential loans $52,345
    Farmland loans $4,649
    Loans held in foreign offices $0
    Farm loans $71
    Commercial and industrial loans $7,571
    To non-U.S. addressees $0
    Loans to individuals $5,015
    Credit card loans $452
    Related Plans $2,692
    Consumer Auto Loans $1,728
    Other loans to individuals $143
    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

    Mutual Savings Bank had $129,097,000 of loans outstanding in 2018. $117,939,000 of loans were in real estate loans. $5,907,000 of loans were in development loans. $3,597,000 of loans were in multifamily mortgage loans. $52,345,000 of loans were in 1-4 family mortgage loans. $71,000 of loans were in farm loans. $452,000 of loans were in credit card loans. $1,728,000 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 102 $19,319 $189,402
    Nonfarm, nonresidential loans - <$100k 24 $1,335 $55,625
    Nonfarm, nonresidential loans - $100-250k 41 $5,193 $126,659
    Nonfarm, nonresidential loans - $250k-1MM 37 $12,791 $345,703
    Commercial & Industrial, US addressed loans - <$1MM 76 $6,095 $80,197
    Commercial & Industrial, US addressed loans - <$100k 51 $1,514 $29,686
    Commercial & Industrial, US addressed loans - $100-250k 12 $500 $41,667
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $4,081 $313,923
    Farmland loans - <$1MM 12 $1,941 $161,750
    Farmland loans - <$100k 2 $95 $47,500
    Farmland loans - $100-250k 7 $880 $125,714
    Farmland loans - $250k-1MM 3 $966 $322,000
    Agriculture operations loans - <$1MM 2 $71 $35,500
    Agriculture operations loans - <$100k 2 $71 $35,500