Wauchula State Bank Mortgage Rates, Fees & Info

Wauchula, FL

LEI: 549300ZW96EO7YCGVV43

Tax ID: 59-0500870

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Wauchula State Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Wauchula State Bank has a high proportion of conventional loans. Their top markets include Punta Gorda, Sebring, Lakeland, Orlando, and Deltona among others. Wauchula State Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

282

Origination Dollar Volume (All Markets)

$96,530,000

Employee count

144

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PUNTA GORDA, FL (FHA|USDA|VA) 85 $17,165,000 $201,941 $0 0.00%
SEBRING-AVON PARK, FL (FHA|USDA|VA) 79 $14,015,000 $177,405 $0 0.00%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 27 $11,615,000 $430,185 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 7 $9,355,000 $1,336,429 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $8,405,000 $1,681,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 18 $6,650,000 $369,444 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $6,490,000 $1,081,667 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 11 $4,645,000 $422,273 $0 0.00%
Wauchula, FL (FHA|USDA|VA) 22 $3,780,000 $171,818 $0 0.00%
THE VILLAGES, FL (FHA|USDA|VA) 3 $3,565,000 $1,188,333 $0 0.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $3,405,000 $3,405,000 $0 0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $2,560,000 $1,280,000 $0 0.00%
TALLAHASSEE, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 0.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $845,000 $845,000 $0 0.00%
Arcadia, FL (FHA|USDA|VA) 6 $780,000 $130,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $350,000 $175,000 $0 0.00%
Okeechobee, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
UTICA-ROME, NY (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
Palatka, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
OCALA, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%

Wauchula State Bank's top markets include Punta Gorda, Sebring, Lakeland, Orlando, and Deltona among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 282 $96,530,000 $342,305 $0 0.00%

For the 2021 period, Wauchula State Bank's most frequently originated loan type of loans were Conventional, with 282 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 129 $44,305,000 $343,450 $0 0.00%
Home Purchase 96 $36,140,000 $376,458 $0 0.00%
Refi 40 $12,510,000 $312,750 $0 0.00%
Other 11 $1,855,000 $168,636 $0 0.00%
Home Improvement 6 $1,720,000 $286,667 $0 0.00%

For the 2021, Wauchula State Bank's most frequently cited loan purpose of loans were Cash Out Refi, with 129 originations. The 2nd most popular reason of loans were Home Purchase, with 96 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 282 $96,530,000 $342,305 $0 0.00%

For the 2021, Wauchula State Bank's most frequently cited loan length of loans were Other, with 282 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 105 $28,005,000 $266,714 $0 0.00%
$100k-200k 100 $14,170,000 $141,700 $0 0.00%
$100,000 or less 37 $2,455,000 $66,351 $0 0.00%
$1MM+ 17 $39,295,000 $2,311,471 $0 0.00%
$400k-600k 15 $6,955,000 $463,667 $0 0.00%
$600k-1MM 8 $5,650,000 $706,250 $0 0.00%

2021 saw Wauchula State Bank place emphasis on $200k-400k loans with 105 originations, totaling $28,005,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 59 $9,885,000 $167,542 $0 0.00%
$75k-100k 44 $8,530,000 $193,864 $0 0.00%
$100k-150k 42 $9,560,000 $227,619 $0 0.00%
$50k or less 40 $4,500,000 $112,500 $0 0.00%
$150k-250k 25 $7,945,000 $317,800 $0 0.00%
$250k+ 18 $6,690,000 $371,667 $0 0.00%

Wauchula State Bank lent most frequently to those with incomes in the $50k-75k range, with 59 originations. The second most popular income band? $75k-100k, with 44 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 282 $96,530,000 $342,305 $0 0.00%

Wauchula State Bank lent most frequently to those with DTI ratios of Exempt%, with 282 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 47 $46,925,000 $998,404 $0 0.00%
White 217 $45,125,000 $207,949 $0 0.00%
Not provided 9 $3,085,000 $342,778 $0 0.00%
Asian 4 $740,000 $185,000 $0 0.00%
Black 3 $415,000 $138,333 $0 0.00%
American Indian 1 $135,000 $135,000 $0 0.00%
Other Pacific Islander 1 $105,000 $105,000 $0 0.00%

Approval Rates

Total approvals of all applications
86.00%

Wauchula State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
83.05%

Wauchula State Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 282 $96,530,000 $342,305

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
282 $96,530,000 $342,305

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Wauchula State Bank 106 East Main Street Wauchula, FL 33873 Full Service B&M $408,778
Wauchula State Bank 1385 U.S. Highway 27 South Sebring, FL 33870 Full Service B&M $96,457
Wauchula State Bank 200 North Oak Avenue Bowling Green, FL 33834 Full Service B&M $35,664
Wauchula State Bank 347 W Central Avenue, Ste 1 Winter Haven, FL 33881 Full Service B&M $72,435
Wauchula State Bank 3900 U.S. Highway 27 North Sebring, FL 33870 Full Service B&M $52,959
Wauchula State Bank Interlake Boulevard At Main Street Lake Placid, FL 33852 Full Service B&M $150,418

For 2021, Wauchula State Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $29,382
Net interest income $28,643
Total noninterest income $4,552
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,430
Trading account gains and fees $0
Additional Noninterest Income $3,122
Pre-tax net operating income $14,257
Securities gains (or losses, -) $4
Income before extraordinary items $14,261
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $14,261
Minority interest net income $0
Net income $14,261
Sale, conversion, retirement of capital stock, net $0
Net operating income $14,257

Wauchula State Bank's gross interest income from loans was $29,382,000.
Wauchula State Bank's net interest income from loans was $28,643,000.
Wauchula State Bank's fee based income from loans was $1,430,000.
Wauchula State Bank's net income from loans was $14,261,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $739
Provision for credit losses $200
Total noninterest expense $18,738
Salaries and employee benefits $15,542
Premises and equipment expense $2,458
Additional noninterest expense $738
Applicable income taxes $0
Net charge-offs $-289
Cash dividends $10,000

Wauchula State Bank's interest expense for loans was $739,000.
Wauchula State Bank's payroll and benefits expense were $15,542,000.
Wauchula State Bank's property, plant and equipment expenses $2,458,000.

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 $845,702
Deposits held in domestic offices $845,702
Deposits by Individuals, partnerships, and corporations $748,593
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $97,109
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 $541,016
Demand deposits $300,484
Nontransaction accounts $304,686
Money market deposit accounts (MMDAs) $98,280
Other savings deposits (excluding MMDAs) $98,192
Total time deposits $108,215
Total time and savings deposits $545,218
Noninterest-bearing deposits $300,484
Interest-bearing deposits $545,218
Retail deposits $814,576
IRAs and Keogh plan accounts $19,119
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $944,582
Cash & Balances due from depository institutions $218,275
Interest-bearing balances $208,915
Total securities $187,541
Federal funds sold & reverse repurchase $0
Net loans and leases $524,028
Loan and leases loss allowance $9,633
Trading account assets $0
Bank premises and fixed assets $8,248
Other real estate owned $78
Goodwill and other intangibles $0
All other assets $6,412

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $944,582
Total Liabilities $853,943
Total deposits $845,702
Interest-bearing deposits $545,218
Deposits held in domestic offices $845,702
% insured (estimated) $60
Federal funds purchased and repurchase agreements $5,405
Trading liabilities $0
Other borrowed funds $365
Subordinated debt $0
All other liabilities $2,471

Issued Loan Types

Type Value (in 000's)
Net loans and leases $524,028
Loan and leases loss allowance $9,633
Total loans and leases (domestic) $533,661
All real estate loans $500,663
Real estate loans in domestic offices $500,663
Construction and development loans $23,214
Residential 1-4 family construction $822
Other construction, all land development and other land $22,392
Loans secured by nonfarm nonresidential properties $286,754
Nonfarm nonresidential secured by owner-occupied properties $62,095
Commercial real estate & other non-farm, non-residential $224,659
Multifamily residential real estate $12,162
1-4 family residential loans $134,498
Farmland loans $44,035
Loans held in foreign offices $0
Farm loans $12,232
Commercial and industrial loans $17,765
To non-U.S. addressees $0
Loans to individuals $3,625
Credit card loans $0
Related Plans $237
Consumer Auto Loans $854
Other loans to individuals $2,534
All other loans & leases $194
Loans to foreign governments and official institutions $0
Other loans $194
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 $915
Non 1-4 family restructured loans & leases $877
Total loans and leases (foreign) $0

Wauchula State Bank had $524,028,000 of loans outstanding in 2021. $500,663,000 of loans were in real estate loans. $23,214,000 of loans were in development loans. $12,162,000 of loans were in multifamily mortgage loans. $134,498,000 of loans were in 1-4 family mortgage loans. $12,232,000 of loans were in farm loans. $0 of loans were in credit card loans. $854,000 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 260 $35,407 $136,181
Nonfarm, nonresidential loans - <$100k 70 $2,101 $30,014
Nonfarm, nonresidential loans - $100-250k 93 $10,054 $108,108
Nonfarm, nonresidential loans - $250k-1MM 97 $23,252 $239,711
Commercial & Industrial, US addressed loans - <$1MM 392 $11,963 $30,518
Commercial & Industrial, US addressed loans - <$100k 325 $3,660 $11,262
Commercial & Industrial, US addressed loans - $100-250k 34 $2,124 $62,471
Commercial & Industrial, US addressed loans - $250k-1MM 33 $6,179 $187,242
Farmland loans - <$1MM 211 $15,828 $75,014
Farmland loans - <$100k 97 $2,745 $28,299
Farmland loans - $100-250k 73 $6,579 $90,123
Farmland loans - $250k-1MM 41 $6,504 $158,634
Agriculture operations loans - <$1MM 71 $2,049 $28,859
Agriculture operations loans - <$100k 57 $532 $9,333
Agriculture operations loans - $100-250k 9 $477 $53,000
Agriculture operations loans - $250k-1MM 5 $1,040 $208,000