The New Washington State Bank Mortgage Rates, Fees & Info

New Washington, IN

LEI: 549300Q16CNQMW0O1O02

Tax ID: 35-0546040

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Mortgage Data

Bank Data

Review & Overview

The New Washington State Bank is a smaller bank specializing in Refi and Home Purchase loans. The New Washington State Bank has a high proportion of conventional loans. Their top two markets are Louisville and Scottsburg .

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.

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Originations

128

Origination Dollar Volume (All Markets)

$44,510,000

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) 114 $40,680,000 $356,842 $0 0.00%
Outside of Metro Areas 13 $3,785,000 $291,154 $0 0.00%
Scottsburg, IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
The New Washington State Bank's top markets include Louisville and Scottsburg among others.

Their top states include:
  • Indiana (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 128 $44,510,000 $347,734 $0 0.00%

    For 2021, The New Washington State Bank's most frequently originated type of loan was Conventional, with 128 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 65 $19,015,000 $292,538 $0 0.00%
    Home Purchase 53 $24,325,000 $458,962 $0 0.00%
    Home Improvement 7 $885,000 $126,429 $0 0.00%
    Other 3 $285,000 $95,000 $0 0.00%

    For 2021, The New Washington State Bank's most frequently cited loan purpose was Refi, with 65 originations. The 2nd most popular reason was Home Purchase, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 128 $44,510,000 $347,734 $0 0.00%

    For 2021, The New Washington State Bank's most frequently cited loan duration was Other, with 128 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,795,000 $59,468 $0 0.00%
    $100k-200k 32 $4,430,000 $138,438 $0 0.00%
    $200k-400k 32 $9,150,000 $285,938 $0 0.00%
    $1MM+ 7 $22,325,000 $3,189,286 $0 0.00%
    $400k-600k 6 $2,900,000 $483,333 $0 0.00%
    $600k-1MM 4 $2,910,000 $727,500 $0 0.00%

    2021 saw The New Washington State Bank place emphasis on $100,000 or less loans with 47 originations, totaling $2,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 23 $2,575,000 $111,957 $0 0.00%
    $50k-75k 20 $2,730,000 $136,500 $0 0.00%
    $75k-100k 14 $1,660,000 $118,571 $0 0.00%
    $100k-150k 13 $2,885,000 $221,923 $0 0.00%
    $250k+ 13 $4,285,000 $329,615 $0 0.00%
    $150k-250k 7 $1,855,000 $265,000 $0 0.00%

    The New Washington State Bank lent most frequently to those with incomes in the $50k or less range, with 23 originations. The second most popular income band? $50k-75k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 128 $44,510,000 $347,734 $0 0.00%

    The New Washington State Bank lent most frequently to those with DTI ratios of Exempt%, with 128 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 37 $27,385,000 $740,135 $0 0.00%
    White 86 $16,050,000 $186,628 $0 0.00%
    Not provided 3 $845,000 $281,667 $0 0.00%
    Asian 1 $185,000 $185,000 $0 0.00%
    Black 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.64%

    The New Washington State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.78%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 128 $44,510,000 $347,734

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    128 $44,510,000 $347,734

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Timios, Inc. Conventional home mortgage Trouble during payment process 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 $91,258
    The New Washington State Bank 123 E. Market Street New Albany, IN 47150 Full Service B&M $6,626
    The New Washington State Bank 1467 Youngstown Center Jeffersonville, IN 47130 Full Service B&M $47,947
    The New Washington State Bank 1770 West Mcclain Avenue Scottsburg, IN 47170 Full Service B&M $38,083
    The New Washington State Bank 203 Main Street Henryville, IN 47126 Full Service B&M $54,147
    The New Washington State Bank 400 Patrol Road Jeffersonville, IN 47130 Full Service B&M $17,264
    The New Washington State Bank 402 E Main Street New Washington, IN 47162 Full Service B&M $49,695
    The New Washington State Bank 430 West Water Street Borden, IN 47106 Full Service B&M $30,210
    The New Washington State Bank 8509 Old State Road 60 Sellersburg, IN 47172 Full Service B&M $64,789

    For 2021, The New Washington State Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,420
    Net interest income $15,690
    Total noninterest income $3,179
    Gross Fiduciary activities income $6
    Service charges on deposit accounts $584
    Trading account gains and fees $0
    Additional Noninterest Income $2,589
    Pre-tax net operating income $6,104
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,104
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,104
    Minority interest net income $0
    Net income $6,104
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,104

    The New Washington State Bank's gross interest income from loans was $16,420,000.
    The New Washington State Bank's net interest income from loans was $15,690,000.
    The New Washington State Bank's fee based income from loans was $584,000.
    The New Washington State Bank's net income from loans was $6,104,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $730
    Provision for credit losses $361
    Total noninterest expense $12,404
    Salaries and employee benefits $6,843
    Premises and equipment expense $1,530
    Additional noninterest expense $4,031
    Applicable income taxes $0
    Net charge-offs $-3
    Cash dividends $2,930

    The New Washington State Bank's interest expense for loans was $730,000.
    The New Washington State Bank's payroll and benefits expense were $6,843,000.
    The New Washington State Bank's property, plant and equipment expenses $1,530,000.

    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 $441,421
    Deposits held in domestic offices $441,421
    Deposits by Individuals, partnerships, and corporations $407,083
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $34,338
    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 $236,915
    Demand deposits $123,518
    Nontransaction accounts $204,506
    Money market deposit accounts (MMDAs) $44,570
    Other savings deposits (excluding MMDAs) $121,687
    Total time deposits $38,248
    Total time and savings deposits $317,903
    Noninterest-bearing deposits $123,518
    Interest-bearing deposits $317,903
    Retail deposits $436,770
    IRAs and Keogh plan accounts $10,373
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $485,548
    Cash & Balances due from depository institutions $79,895
    Interest-bearing balances $74,747
    Total securities $92,992
    Federal funds sold & reverse repurchase $571
    Net loans and leases $296,151
    Loan and leases loss allowance $3,684
    Trading account assets $0
    Bank premises and fixed assets $4,814
    Other real estate owned $41
    Goodwill and other intangibles $0
    All other assets $11,084

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $485,548
    Total Liabilities $442,666
    Total deposits $441,421
    Interest-bearing deposits $317,903
    Deposits held in domestic offices $441,421
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,245

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $296,151
    Loan and leases loss allowance $3,684
    Total loans and leases (domestic) $299,835
    All real estate loans $208,004
    Real estate loans in domestic offices $208,004
    Construction and development loans $43,716
    Residential 1-4 family construction $17,761
    Other construction, all land development and other land $25,955
    Loans secured by nonfarm nonresidential properties $79,702
    Nonfarm nonresidential secured by owner-occupied properties $51,350
    Commercial real estate & other non-farm, non-residential $28,352
    Multifamily residential real estate $15,286
    1-4 family residential loans $64,449
    Farmland loans $4,851
    Loans held in foreign offices $0
    Farm loans $235
    Commercial and industrial loans $42,782
    To non-U.S. addressees $0
    Loans to individuals $33,007
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $26,329
    Other loans to individuals $6,678
    All other loans & leases $15,807
    Loans to foreign governments and official institutions $0
    Other loans $55
    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 $862
    Non 1-4 family restructured loans & leases $223
    Total loans and leases (foreign) $0

    The New Washington State Bank had $296,151,000 of loans outstanding in 2021. $208,004,000 of loans were in real estate loans. $43,716,000 of loans were in development loans. $15,286,000 of loans were in multifamily mortgage loans. $64,449,000 of loans were in 1-4 family mortgage loans. $235,000 of loans were in farm loans. $0 of loans were in credit card loans. $26,329,000 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 206 $45,143 $219,141
    Nonfarm, nonresidential loans - <$100k 40 $1,741 $43,525
    Nonfarm, nonresidential loans - $100-250k 83 $9,548 $115,036
    Nonfarm, nonresidential loans - $250k-1MM 83 $33,854 $407,880
    Commercial & Industrial, US addressed loans - <$1MM 640 $35,944 $56,163
    Commercial & Industrial, US addressed loans - <$100k 488 $13,289 $27,232
    Commercial & Industrial, US addressed loans - $100-250k 88 $7,996 $90,864
    Commercial & Industrial, US addressed loans - $250k-1MM 64 $14,659 $229,047
    Farmland loans - <$1MM 32 $3,762 $117,563
    Farmland loans - <$100k 10 $333 $33,300
    Farmland loans - $100-250k 13 $1,488 $114,462
    Farmland loans - $250k-1MM 9 $1,941 $215,667
    Agriculture operations loans - <$1MM 13 $235 $18,077
    Agriculture operations loans - <$100k 12 $147 $12,250
    Agriculture operations loans - $100-250k 1 $88 $88,000