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 and Refi loans. The New Washington State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Louisville, Scottsburg, and Madison among others. We have data for 4 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

    91

    Origination Dollar Volume (All Markets)

    $26,275,000

    Employee count

    90

    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) 75 $24,665,000 $328,867 $1,679 6.28%
    Outside of Metro Areas 12 $1,180,000 $98,333 $2,362 5.94%
    Scottsburg, IN (FHA|USDA|VA) 3 $255,000 $85,000 $1,946 6.32%
    Madison, IN (FHA|USDA|VA) 1 $175,000 $175,000 $0 5.50%
    The New Washington State Bank's top markets include Louisville, 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.

    Guardian Savings Bank, A Federal Savings Bank
    Similarity Rank: 360
    Advanz Federal Credit Union
    Similarity Rank: 360
    The Peoples Bank
    Similarity Rank: 400
    COMMONWEALTH
    Similarity Rank: 408
    TRANSCEND
    Similarity Rank: 702
    Abound Federal Credit Union
    Similarity Rank: 752
    PARK COMMUNITY CREDIT UNION, INC.
    Similarity Rank: 912
    SOVEREIGN LENDING GROUP INCORPORATED
    Similarity Rank: 1182
    First Harrison Bank
    Similarity Rank: 1287
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 1392

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 91 $26,275,000 $288,736 $1,757 6.23%

    For 2019, The New Washington State Bank's most frequently originated type of loan was Conventional, with 91 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 44 $17,470,000 $397,045 $2,396 6.00%
    Refi 32 $8,100,000 $253,125 $1,677 6.23%
    Other 11 $475,000 $43,182 $1,336 7.37%
    Home Improvement 4 $230,000 $57,500 $1,630 5.74%

    For 2019, The New Washington State Bank's most frequently cited loan purpose was Home Purchase, with 44 originations. The 2nd most popular reason was Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 29 $2,055,000 $70,862 $2,052 6.34%
    1 Year 18 $3,030,000 $168,333 $0 5.95%
    Other 13 $12,525,000 $963,462 $1,085 6.04%
    5 Year 10 $410,000 $41,000 $957 6.74%
    10 Year 9 $945,000 $105,000 $1,361 5.94%
    30 Year 8 $1,250,000 $156,250 $2,244 6.32%
    20 Year 3 $6,045,000 $2,015,000 $2,340 5.87%
    3 Year 1 $15,000 $15,000 $1,181 8.50%

    For 2019, The New Washington State Bank's most frequently cited loan duration was 15 Year, with 29 originations. The 2nd most popular length was 1 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 36 $2,020,000 $56,111
    $1k-2k 11 $2,205,000 $200,455
    $2k-3k 1 $215,000 $215,000
    $3k-4k 1 $425,000 $425,000
    $5k+ 1 $655,000 $655,000

    The New Washington State Bank's average total fees were $2,244, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 36 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 54 $14,880,000 $275,556
    6-7% 15 $1,025,000 $68,333
    7-8% 9 $405,000 $45,000
    Over 8% 8 $300,000 $37,500
    4-5% 5 $9,665,000 $1,933,000

    During 2019, The New Washington State Bank's average interest rate for loans was 6.32%, while their most frequently originated rate bucket for loans was 5-6%, with 54 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 61 $3,275,000 $53,689 $1,576 6.56%
    $100k-200k 14 $1,900,000 $135,714 $2,517 5.78%
    $200k-400k 8 $2,110,000 $263,750 $2,552 5.59%
    $1MM+ 4 $16,940,000 $4,235,000 $0 4.85%
    $400k-600k 3 $1,395,000 $465,000 $2,509 5.45%
    $600k-1MM 1 $655,000 $655,000 $0 5.50%

    2019 saw The New Washington State Bank place emphasis on $100,000 or less loans with 61 originations, totaling $3,275,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 18 $1,130,000 $62,778 $1,530 6.38%
    $50k-75k 16 $1,330,000 $83,125 $1,956 6.46%
    $75k-100k 16 $1,410,000 $88,125 $1,749 6.62%
    $150k-250k 8 $1,500,000 $187,500 $2,400 5.88%
    $100k-150k 7 $885,000 $126,429 $562 6.62%
    $250k+ 5 $1,275,000 $255,000 $1,968 5.41%

    The New Washington State Bank lent most frequently to those with incomes in the $50k or less range, with 18 originations. The second most popular income band? $50k-75k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 20 $2,010,000 $100,500 $1,811 6.37%
    <20% 13 $1,055,000 $81,154 $1,907 6.48%
    30-36% 8 $380,000 $47,500 $1,425 7.09%
    36% 2 $150,000 $75,000 $1,151 7.35%
    46% 1 $215,000 $215,000 $1,637 5.00%
    47% 1 $235,000 $235,000 $3,467 5.15%
    50-60% 1 $15,000 $15,000 $584 5.25%
    >60% 1 $75,000 $75,000 $1,765 5.65%
    37% 1 $75,000 $75,000 $1,186 5.99%
    39% 1 $35,000 $35,000 $783 8.99%
    41% 1 $55,000 $55,000 $1,439 7.75%

    The New Washington State Bank lent most frequently to those with DTI ratios of 20-30%, with 20 originations. The next most common DTI ratio? <20%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 18 $18,050,000 $1,002,778 $0 5.79%
    White 68 $7,600,000 $111,765 $1,729 6.34%
    Not provided 4 $560,000 $140,000 $1,917 5.91%
    Black 1 $65,000 $65,000 $2,340 7.90%

    Approval Rates

    Total approvals of all applications
    91.30%

    The New Washington State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.62%

    The New Washington State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    405.0 1 $25,000 $25,000
    911.0 1 $45,000 $45,000
    NA 89 $26,205,000 $294,438

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $17,085,000 $3,417,000
    Single Family (1-4 Units):Manufactured 8 $550,000 $68,750
    Single Family (1-4 Units):Site-Built 78 $8,640,000 $110,769

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $1,370,000 $76,111 $1,538 6.58%
    40-60% 17 $1,365,000 $80,294 $1,792 6.43%
    60-80% 39 $17,315,000 $443,974 $2,337 5.85%
    80-100% 7 $5,935,000 $847,857 $2,318 5.90%
    Under 20% 10 $290,000 $29,000 $1,164 6.97%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    TEAM USA MORTGAGE L.L.C. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    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 $77,217
    The New Washington State Bank 1467 Youngstown Center Jeffersonville, IN 47130 Full Service B&M $40,423
    The New Washington State Bank 1770 West Mcclain Avenue Scottsburg, IN 47170 Full Service B&M $22,270
    The New Washington State Bank 203 Main Street Henryville, IN 47126 Full Service B&M $42,884
    The New Washington State Bank 400 Patrol Road Jeffersonville, IN 47130 Full Service B&M $18,262
    The New Washington State Bank 402 E Main Street New Washington, IN 47162 Full Service B&M $40,994
    The New Washington State Bank 430 West Water Street Borden, IN 47106 Full Service B&M $16,606
    The New Washington State Bank 8509 Old State Road 60 Sellersburg, IN 47172 Full Service B&M $46,294

    For 2019, The New Washington State Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,943
    Net interest income $14,359
    Total noninterest income $2,656
    Gross Fiduciary activities income $5
    Service charges on deposit accounts $766
    Trading account gains and fees $0
    Additional Noninterest Income $1,885
    Pre-tax net operating income $5,461
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,461
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,461
    Minority interest net income $0
    Net income $5,461
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,461

    The New Washington State Bank's gross interest income from loans was $15,943,000.
    The New Washington State Bank's net interest income from loans was $14,359,000.
    The New Washington State Bank's fee based income from loans was $766,000.
    The New Washington State Bank's net income from loans was $5,461,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,584
    Provision for credit losses $203
    Total noninterest expense $11,351
    Salaries and employee benefits $6,228
    Premises and equipment expense $1,468
    Additional noninterest expense $3,655
    Applicable income taxes $0
    Net charge-offs $161
    Cash dividends $3,540

    The New Washington State Bank's interest expense for loans was $1,584,000.
    The New Washington State Bank's payroll and benefits expense were $6,228,000.
    The New Washington State Bank's property, plant and equipment expenses $1,468,000.

    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 $307,248
    Deposits held in domestic offices $307,248
    Deposits by Individuals, partnerships, and corporations $266,861
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $40,387
    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 $137,774
    Demand deposits $60,745
    Nontransaction accounts $169,474
    Money market deposit accounts (MMDAs) $56,236
    Other savings deposits (excluding MMDAs) $73,992
    Total time deposits $39,245
    Total time and savings deposits $246,503
    Noninterest-bearing deposits $60,745
    Interest-bearing deposits $246,503
    Retail deposits $302,495
    IRAs and Keogh plan accounts $11,248
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $343,508
    Cash & Balances due from depository institutions $21,128
    Interest-bearing balances $15,251
    Total securities $38,752
    Federal funds sold & reverse repurchase $1,476
    Net loans and leases $266,441
    Loan and leases loss allowance $3,169
    Trading account assets $0
    Bank premises and fixed assets $4,999
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $10,712

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $343,508
    Total Liabilities $308,332
    Total deposits $307,248
    Interest-bearing deposits $246,503
    Deposits held in domestic offices $307,248
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,084

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $266,441
    Loan and leases loss allowance $3,169
    Total loans and leases (domestic) $269,610
    All real estate loans $177,068
    Real estate loans in domestic offices $177,068
    Construction and development loans $24,302
    Residential 1-4 family construction $10,119
    Other construction, all land development and other land $14,183
    Loans secured by nonfarm nonresidential properties $71,207
    Nonfarm nonresidential secured by owner-occupied properties $44,271
    Commercial real estate & other non-farm, non-residential $26,936
    Multifamily residential real estate $12,514
    1-4 family residential loans $61,672
    Farmland loans $7,373
    Loans held in foreign offices $0
    Farm loans $238
    Commercial and industrial loans $39,907
    To non-U.S. addressees $0
    Loans to individuals $38,974
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $30,667
    Other loans to individuals $8,307
    All other loans & leases $13,424
    Loans to foreign governments and official institutions $0
    Other loans $230
    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 $1,596
    Non 1-4 family restructured loans & leases $885
    Total loans and leases (foreign) $0

    The New Washington State Bank had $266,441,000 of loans outstanding in 2019. $177,068,000 of loans were in real estate loans. $24,302,000 of loans were in development loans. $12,514,000 of loans were in multifamily mortgage loans. $61,672,000 of loans were in 1-4 family mortgage loans. $238,000 of loans were in farm loans. $0 of loans were in credit card loans. $30,667,000 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 219 $41,577 $189,849
    Nonfarm, nonresidential loans - <$100k 55 $2,100 $38,182
    Nonfarm, nonresidential loans - $100-250k 88 $10,624 $120,727
    Nonfarm, nonresidential loans - $250k-1MM 76 $28,853 $379,645
    Commercial & Industrial, US addressed loans - <$1MM 621 $35,455 $57,093
    Commercial & Industrial, US addressed loans - <$100k 462 $11,275 $24,405
    Commercial & Industrial, US addressed loans - $100-250k 98 $8,618 $87,939
    Commercial & Industrial, US addressed loans - $250k-1MM 61 $15,562 $255,115
    Farmland loans - <$1MM 42 $6,184 $147,238
    Farmland loans - <$100k 13 $449 $34,538
    Farmland loans - $100-250k 17 $2,097 $123,353
    Farmland loans - $250k-1MM 12 $3,638 $303,167
    Agriculture operations loans - <$1MM 16 $238 $14,875
    Agriculture operations loans - <$100k 15 $188 $12,533
    Agriculture operations loans - $100-250k 1 $50 $50,000