The New Washington State Bank Mortgage Rates, Fees & Info

New Washington, IN

LEI: 549300Q16CNQMW0O1O02

Tax ID: 35-0546040

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    The New Washington State Bank is a smaller bank specializing in Home Purchase, Refi, and Home Improvement loans. The New Washington State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Indianapolis, Scottsburg, and Madison among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The New Washington State 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. The New Washington State Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    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.

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    Originations

    109

    Origination Dollar Volume (All Markets)

    $17,325,000

    Employee count

    84

    Awards

    The New Washington State Bank 30 Year Conventional Loans silver
    Show all (1) awards

    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
    LOUISVILLE, KY (FHA|USDA|VA) 92 $10,820,000 $117,609 $1,839 6.23%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $4,905,000 $4,905,000 $0 5.05%
    Scottsburg, IN (FHA|USDA|VA) 10 $780,000 $78,000 $2,347 6.03%
    Madison, IN (FHA|USDA|VA) 5 $505,000 $101,000 $1,836 5.32%
    Outside of Metro Areas 1 $315,000 $315,000 $4,049 5.45%
    The New Washington State Bank's top markets include Louisville, Indianapolis, Scottsburg, and Madison among others.

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

    • Similar Lenders

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

    The Peoples Bank
    Similarity Rank: 120
    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 162
    COMMONWEALTH
    Similarity Rank: 345
    First Harrison Bank
    Similarity Rank: 357
    CLASS ACT FEDERAL CREDIT UNION
    Similarity Rank: 357
    Abound Federal Credit Union
    Similarity Rank: 375
    Peoples Bank
    Similarity Rank: 455
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 468
    The New Washington State Bank
    Similarity Rank: 650
    Victory Community Bank
    Similarity Rank: 714

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 109 $17,325,000 $158,945 $1,908 6.15%

    For 2018, The New Washington State Bank's most frequently originated type of loan was Conventional, with 109 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 53 $7,695,000 $145,189 $2,341 5.70%
    Refi 34 $3,520,000 $103,529 $1,536 6.61%
    Other 14 $770,000 $55,000 $1,682 6.66%
    Home Improvement 8 $5,340,000 $667,500 $1,630 6.25%

    For 2018, The New Washington State Bank's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 37 $4,215,000 $113,919 $2,084 6.15%
    5 Year 21 $1,345,000 $64,048 $1,081 6.64%
    30 Year 14 $1,830,000 $130,714 $2,237 5.99%
    Other 10 $6,720,000 $672,000 $1,154 5.92%
    1 Year 10 $1,180,000 $118,000 $2,969 6.24%
    10 Year 9 $375,000 $41,667 $1,395 6.05%
    20 Year 6 $1,160,000 $193,333 $2,670 5.28%
    3 Year 2 $500,000 $250,000 $0 5.90%

    For 2018, The New Washington State Bank's most frequently cited loan duration was 15 Year, with 37 originations. The 2nd most popular length was 5 Year, with 21 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 49 $3,075,000 $62,755
    $1k-2k 12 $1,890,000 $157,500
    $2k-3k 4 $1,020,000 $255,000
    $3k-4k 1 $355,000 $355,000

    The New Washington State Bank's average total fees were $2,237, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 49 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 56 $12,630,000 $225,536
    6-7% 17 $1,435,000 $84,412
    4-5% 13 $2,025,000 $155,769
    7-8% 13 $645,000 $49,615
    Over 8% 9 $445,000 $49,444
    3-4% 1 $145,000 $145,000

    During 2018, The New Washington State Bank's average interest rate for loans was 5.99%, while their most frequently originated rate bucket for loans was 5-6%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 63 $2,935,000 $46,587 $1,529 6.47%
    $100k-200k 27 $3,725,000 $137,963 $2,106 5.78%
    $200k-400k 14 $3,630,000 $259,286 $3,242 5.67%
    $400k-600k 3 $1,505,000 $501,667 $0 5.86%
    $1MM+ 1 $4,905,000 $4,905,000 $0 5.05%
    $600k-1MM 1 $625,000 $625,000 $0 4.50%

    2018 saw The New Washington State Bank place emphasis on $100,000 or less loans with 63 originations, totaling $2,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 34 $1,850,000 $54,412 $1,523 6.61%
    $50k-75k 14 $1,110,000 $79,286 $1,654 6.27%
    $75k-100k 13 $1,385,000 $106,538 $2,487 5.99%
    $100k-150k 12 $1,460,000 $121,667 $2,277 6.12%
    $150k-250k 6 $1,320,000 $220,000 $2,274 5.80%
    $250k+ 5 $1,145,000 $229,000 $4,436 5.34%

    The New Washington State Bank lent most frequently to those with incomes in the $50k or less range, with 34 originations. The second most popular income band? $50k-75k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $2,355,000 $102,391 $2,067 6.29%
    <20% 19 $855,000 $45,000 $1,662 6.63%
    30-36% 16 $1,870,000 $116,875 $1,972 5.70%
    40% 5 $265,000 $53,000 $1,497 6.56%
    >60% 4 $550,000 $137,500 $1,248 6.32%
    39% 3 $415,000 $138,333 $2,181 6.37%
    37% 2 $190,000 $95,000 $2,264 5.63%
    38% 2 $40,000 $20,000 $0 6.85%
    44% 2 $140,000 $70,000 $1,983 6.41%
    47% 2 $440,000 $220,000 $4,824 5.18%
    50-60% 2 $720,000 $360,000 $0 5.93%
    45% 1 $215,000 $215,000 $1,630 5.49%
    42% 1 $235,000 $235,000 $3,558 5.90%
    43% 1 $45,000 $45,000 $0 8.50%
    36% 1 $55,000 $55,000 $1,718 5.17%

    The New Washington State Bank lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? <20%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 22 $8,710,000 $395,909 $1,734 5.81%
    White 85 $8,305,000 $97,706 $1,871 6.23%
    Not provided 2 $310,000 $155,000 $3,067 6.41%

    Approval Rates

    Total approvals of all applications
    92.03%

    The New Washington State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.24%

    The New Washington State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    266.0 1 $5,000 $5,000
    509.0 1 $25,000 $25,000
    NA 107 $17,295,000 $161,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $435,000 $435,000
    Multifamily:Site-Built 4 $6,260,000 $1,565,000
    Single Family (1-4 Units):Manufactured 18 $740,000 $41,111
    Single Family (1-4 Units):Site-Built 86 $9,890,000 $115,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $1,675,000 $62,037 $1,537 6.52%
    40-60% 18 $2,190,000 $121,667 $1,797 6.09%
    60-80% 45 $11,675,000 $259,444 $2,468 6.05%
    80-100% 10 $1,620,000 $162,000 $3,034 5.38%
    Under 20% 9 $165,000 $18,333 $1,168 6.50%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    TEAM USA MORTGAGE L.L.C. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    TEAM USA MORTGAGE L.L.C. FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The New Washington State Bank 1083 Market Street Charlestown, IN 47111 Full Service B&M $70,199
    The New Washington State Bank 1467 Youngstown Center Jeffersonville, IN 47130 Full Service B&M $27,222
    The New Washington State Bank 1770 West Mcclain Avenue Scottsburg, IN 47170 Full Service B&M $20,395
    The New Washington State Bank 203 Main Street Henryville, IN 47126 Full Service B&M $42,991
    The New Washington State Bank 400 Patrol Road Jeffersonville, IN 47130 Full Service B&M $17,772
    The New Washington State Bank 402 E Main Street New Washington, IN 47162 Full Service B&M $46,178
    The New Washington State Bank 430 West Water Street Borden, IN 47106 Full Service B&M $16,074
    The New Washington State Bank 8509 Old State Road 60 Sellersburg, IN 47172 Full Service B&M $46,825

    For 2018, The New Washington State Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,859
    Net interest income $13,757
    Total noninterest income $2,485
    Gross Fiduciary activities income $5
    Service charges on deposit accounts $779
    Trading account gains and fees $0
    Additional Noninterest Income $1,701
    Pre-tax net operating income $5,092
    Securities gains (or losses, -) $11
    Income before extraordinary items $5,103
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,103
    Minority interest net income $0
    Net income $5,103
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,092

    The New Washington State Bank's gross interest income from loans was $14,859,000.
    The New Washington State Bank's net interest income from loans was $13,757,000.
    The New Washington State Bank's fee based income from loans was $779,000.
    The New Washington State Bank's net income from loans was $5,103,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,102
    Provision for credit losses $162
    Total noninterest expense $10,988
    Salaries and employee benefits $5,899
    Premises and equipment expense $1,357
    Additional noninterest expense $3,732
    Applicable income taxes $0
    Net charge-offs $34
    Cash dividends $3,313

    The New Washington State Bank's interest expense for loans was $1,102,000.
    The New Washington State Bank's payroll and benefits expense were $5,899,000.
    The New Washington State Bank's property, plant and equipment expenses $1,357,000.

    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 $296,255
    Deposits held in domestic offices $296,255
    Deposits by Individuals, partnerships, and corporations $268,523
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $27,732
    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 $128,337
    Demand deposits $66,664
    Nontransaction accounts $167,918
    Money market deposit accounts (MMDAs) $54,131
    Other savings deposits (excluding MMDAs) $72,808
    Total time deposits $40,979
    Total time and savings deposits $229,591
    Noninterest-bearing deposits $66,664
    Interest-bearing deposits $229,591
    Retail deposits $291,188
    IRAs and Keogh plan accounts $11,587
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $330,114
    Cash & Balances due from depository institutions $18,585
    Interest-bearing balances $7,160
    Total securities $35,455
    Federal funds sold & reverse repurchase $2,094
    Net loans and leases $259,692
    Loan and leases loss allowance $3,127
    Trading account assets $0
    Bank premises and fixed assets $4,780
    Other real estate owned $170
    Goodwill and other intangibles $0
    All other assets $9,338

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $330,114
    Total Liabilities $297,584
    Total deposits $296,255
    Interest-bearing deposits $229,591
    Deposits held in domestic offices $296,255
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,329

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $259,692
    Loan and leases loss allowance $3,127
    Total loans and leases (domestic) $262,819
    All real estate loans $174,871
    Real estate loans in domestic offices $174,871
    Construction and development loans $24,663
    Residential 1-4 family construction $4,471
    Other construction, all land development and other land $20,192
    Loans secured by nonfarm nonresidential properties $69,835
    Nonfarm nonresidential secured by owner-occupied properties $44,240
    Commercial real estate & other non-farm, non-residential $25,595
    Multifamily residential real estate $8,126
    1-4 family residential loans $66,310
    Farmland loans $5,937
    Loans held in foreign offices $0
    Farm loans $258
    Commercial and industrial loans $34,707
    To non-U.S. addressees $0
    Loans to individuals $41,070
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $31,295
    Other loans to individuals $9,775
    All other loans & leases $11,913
    Loans to foreign governments and official institutions $0
    Other loans $83
    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 $2,156
    Non 1-4 family restructured loans & leases $1,625
    Total loans and leases (foreign) $0

    The New Washington State Bank had $259,692,000 of loans outstanding in 2018. $174,871,000 of loans were in real estate loans. $24,663,000 of loans were in development loans. $8,126,000 of loans were in multifamily mortgage loans. $66,310,000 of loans were in 1-4 family mortgage loans. $258,000 of loans were in farm loans. $0 of loans were in credit card loans. $31,295,000 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 218 $41,552 $190,606
    Nonfarm, nonresidential loans - <$100k 57 $2,134 $37,439
    Nonfarm, nonresidential loans - $100-250k 87 $11,083 $127,391
    Nonfarm, nonresidential loans - $250k-1MM 74 $28,335 $382,905
    Commercial & Industrial, US addressed loans - <$1MM 564 $30,140 $53,440
    Commercial & Industrial, US addressed loans - <$100k 420 $10,435 $24,845
    Commercial & Industrial, US addressed loans - $100-250k 96 $9,733 $101,385
    Commercial & Industrial, US addressed loans - $250k-1MM 48 $9,972 $207,750
    Farmland loans - <$1MM 37 $4,798 $129,676
    Farmland loans - <$100k 14 $407 $29,071
    Farmland loans - $100-250k 16 $2,203 $137,688
    Farmland loans - $250k-1MM 7 $2,188 $312,571
    Agriculture operations loans - <$1MM 11 $258 $23,455
    Agriculture operations loans - <$100k 10 $153 $15,300
    Agriculture operations loans - $100-250k 1 $105 $105,000