Mutual Savings Bank Mortgage Rates, Fees & Info
Franklin, INLEI: 549300MOTRV68OSXM837
Tax ID: 35-0536745
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Mortgage Data
Bank Data
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.21% | 4/28/24 |
| 30 Year Conventional Refi | 6.53% | 4/28/24 |
| 30 Year Cash-out Refi | 7.05% | 4/28/24 |
| 30 Year FHA Purchase | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.96% | 4/28/24 |
| 15 Year Conventional Refi | 6.44% | 4/28/24 |
| 15 Year Cash-out Refi | 6.44% | 4/28/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
130Origination Dollar Volume (All Markets)
$24,320,000Employee count
47Top 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) | 127 | $23,675,000 | $186,417 | $0 | 0.00% |
| COLUMBUS, IN (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $0 | 0.00% |
| BLOOMINGTON, IN (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 130 | $24,320,000 | $187,077 | $0 | 0.00% |
For 2019, Mutual Savings Bank's most frequently originated type of loan was Conventional, with 130 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 71 | $13,555,000 | $190,915 | $0 | 0.00% |
| Refi | 43 | $8,535,000 | $198,488 | $0 | 0.00% |
| Cash Out Refi | 16 | $2,230,000 | $139,375 | $0 | 0.00% |
For 2019, Mutual Savings Bank's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 43 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 130 | $24,320,000 | $187,077 | $0 | 0.00% |
For 2019, Mutual Savings Bank's most frequently cited loan duration was Other, with 130 originations.
Loan Sizing
2019 saw Mutual Savings Bank place emphasis on $100k-200k loans with 48 originations, totaling $7,320,000 in origination value.
Applicant Income
Mutual Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 36 originations. The second most popular income band? $75k-100k, with 24 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 130 | $24,320,000 | $187,077 | $0 | 0.00% |
Mutual Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 130 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 121 | $23,105,000 | $190,950 | $0 | 0.00% |
| Not applicable | 9 | $1,215,000 | $135,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications92.71%
Mutual Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.62%
Mutual Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 130 | $24,320,000 | $187,077 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 3 | $225,000 | $75,000 |
| Single Family (1-4 Units):Site-Built | 127 | $24,095,000 | $189,724 |
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 | $7,777 |
| Mutual Savings Bank | 1124 North Main Street Franklin, IN 46131 | Full Service B&M | $43,175 |
| Mutual Savings Bank | 2 Trafalgar Square Trafalgar, IN 46181 | Full Service B&M | $24,898 |
| Mutual Savings Bank | 2020 South Sr 135, Ste 203 Greenwood, IN 46143 | Full Service B&M | $550 |
| Mutual Savings Bank | 7459 South Nineveh Road, P.O. Box 94 Nineveh, IN 46164 | Full Service B&M | $11,636 |
| Mutual Savings Bank | 80 East Jefferson Street Franklin, IN 46131 | Full Service B&M | $51,396 |
For 2019, Mutual Savings Bank had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $7,148 |
| Net interest income | $5,857 |
| Total noninterest income | $1,270 |
| Gross Fiduciary activities income | $121 |
| Service charges on deposit accounts | $144 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,005 |
| Pre-tax net operating income | $1,370 |
| Securities gains (or losses, -) | $1 |
| Income before extraordinary items | $1,077 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,077 |
| Minority interest net income | $0 |
| Net income | $1,077 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,076 |
Mutual Savings Bank's gross interest income from loans was $7,148,000.
Mutual Savings Bank's net interest income from loans was $5,857,000.
Mutual Savings Bank's fee based income from loans was $144,000.
Mutual Savings Bank's net income from loans was $1,077,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,291 |
| Provision for credit losses | $121 |
| Total noninterest expense | $5,636 |
| Salaries and employee benefits | $3,340 |
| Premises and equipment expense | $642 |
| Additional noninterest expense | $1,654 |
| Applicable income taxes | $294 |
| Net charge-offs | $-16 |
| Cash dividends | $338 |
Mutual Savings Bank's interest expense for loans was $1,291,000.
Mutual Savings Bank's payroll and benefits expense were $3,340,000.
Mutual Savings Bank's property, plant and equipment expenses $642,000.
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 | 1.3% |
| 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 | $145,781 |
| Deposits held in domestic offices | $145,781 |
| Deposits by Individuals, partnerships, and corporations | $120,252 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $25,529 |
| 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 | $64,523 |
| Demand deposits | $23,463 |
| Nontransaction accounts | $81,258 |
| Money market deposit accounts (MMDAs) | $32,110 |
| Other savings deposits (excluding MMDAs) | $12,221 |
| Total time deposits | $36,927 |
| Total time and savings deposits | $122,318 |
| Noninterest-bearing deposits | $23,384 |
| Interest-bearing deposits | $122,397 |
| Retail deposits | $131,065 |
| IRAs and Keogh plan accounts | $1,721 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $175,862 |
| Cash & Balances due from depository institutions | $3,871 |
| Interest-bearing balances | $2,685 |
| Total securities | $36,724 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $127,223 |
| Loan and leases loss allowance | $1,475 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,773 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $229 |
| All other assets | $6,042 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $175,862 |
| Total Liabilities | $158,448 |
| Total deposits | $145,781 |
| Interest-bearing deposits | $122,397 |
| Deposits held in domestic offices | $145,781 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $12,250 |
| Subordinated debt | $0 |
| All other liabilities | $417 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $127,223 |
| Loan and leases loss allowance | $1,475 |
| Total loans and leases (domestic) | $128,698 |
| All real estate loans | $119,422 |
| Real estate loans in domestic offices | $119,422 |
| Construction and development loans | $6,899 |
| Residential 1-4 family construction | $4,466 |
| Other construction, all land development and other land | $2,433 |
| Loans secured by nonfarm nonresidential properties | $50,712 |
| Nonfarm nonresidential secured by owner-occupied properties | $35,887 |
| Commercial real estate & other non-farm, non-residential | $14,825 |
| Multifamily residential real estate | $2,968 |
| 1-4 family residential loans | $53,122 |
| Farmland loans | $5,721 |
| Loans held in foreign offices | $0 |
| Farm loans | $148 |
| Commercial and industrial loans | $5,965 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,334 |
| Credit card loans | $467 |
| Related Plans | $735 |
| Consumer Auto Loans | $1,868 |
| Other loans to individuals | $264 |
| 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 $127,223,000 of loans outstanding in 2019. $119,422,000 of loans were in real estate loans. $6,899,000 of loans were in development loans. $2,968,000 of loans were in multifamily mortgage loans. $53,122,000 of loans were in 1-4 family mortgage loans. $148,000 of loans were in farm loans. $467,000 of loans were in credit card loans. $1,868,000 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 | 103 | $20,970 | $203,592 |
| Nonfarm, nonresidential loans - <$100k | 23 | $928 | $40,348 |
| Nonfarm, nonresidential loans - $100-250k | 39 | $4,746 | $121,692 |
| Nonfarm, nonresidential loans - $250k-1MM | 41 | $15,296 | $373,073 |
| Commercial & Industrial, US addressed loans - <$1MM | 47 | $1,680 | $35,745 |
| Commercial & Industrial, US addressed loans - <$100k | 41 | $936 | $22,829 |
| Commercial & Industrial, US addressed loans - $100-250k | 3 | $117 | $39,000 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 3 | $627 | $209,000 |
| Farmland loans - <$1MM | 12 | $2,010 | $167,500 |
| Farmland loans - <$100k | 2 | $88 | $44,000 |
| Farmland loans - $100-250k | 7 | $815 | $116,429 |
| Farmland loans - $250k-1MM | 3 | $1,107 | $369,000 |
| Agriculture operations loans - <$1MM | 3 | $148 | $49,333 |
| Agriculture operations loans - <$100k | 3 | $148 | $49,333 |