Wauchula State Bank Mortgage Rates, Fees & Info

Wauchula, FL

LEI: 549300ZW96EO7YCGVV43

Tax ID: 59-0500870

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

Review & Overview

Wauchula State Bank is a smaller bank specializing in Home Purchase loans. Wauchula State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lakeland, Sebring, Wauchula, Palm Bay, and Tallahassee among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Wauchula State Bank has an 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

105

Origination Dollar Volume (All Markets)

$19,435,000

Employee count

153

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
LAKELAND-WINTER HAVEN, FL (FHA\|USDA\|VA)	19	$7,795,000	$410,263	$0	0.00%
SEBRING-AVON PARK, FL (FHA\|USDA\|VA)	50	$6,680,000	$133,600	$0	0.00%
Wauchula, FL (FHA\|USDA\|VA)	23	$1,995,000	$86,739	$0	0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	3	$1,155,000	$385,000	$0	0.00%
TALLAHASSEE, FL (FHA\|USDA\|VA)	1	$655,000	$655,000	$0	0.00%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	4	$510,000	$127,500	$0	0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	2	$310,000	$155,000	$0	0.00%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$0	0.00%
Vincennes, IN (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	0.00%
Outside of Metro Areas	1	$45,000	$45,000	$0	0.00%

Wauchula State Bank's top markets include Lakeland, Sebring, Wauchula, Palm Bay, and Tallahassee among others.

Their top states include:

Florida (FHA|USDA|VA)

(FHA|USDA|VA)

Indiana (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	105	$19,435,000	$185,095	$0	0.00%

For 2019, Wauchula State Bank's most frequently originated type of loan was Conventional, with 105 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	75	$17,185,000	$229,133	$0	0.00%
Home Improvement	12	$680,000	$56,667	$0	0.00%
Other	10	$870,000	$87,000	$0	0.00%
Cash Out Refi	7	$535,000	$76,429	$0	0.00%
Refi	1	$165,000	$165,000	$0	0.00%

For 2019, Wauchula State Bank's most frequently cited loan purpose was Home Purchase, with 75 originations. The 2nd most popular reason was Home Improvement, with 12 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	105	$19,435,000	$185,095	$0	0.00%

For 2019, Wauchula State Bank's most frequently cited loan duration was Other, with 105 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	53	$2,875,000	$54,245	$0	0.00%
$100k-200k	27	$3,875,000	$143,519	$0	0.00%
$200k-400k	19	$5,065,000	$266,579	$0	0.00%
$1MM+	2	$5,240,000	$2,620,000	$0	0.00%
$400k-600k	2	$980,000	$490,000	$0	0.00%
$600k-1MM	2	$1,400,000	$700,000	$0	0.00%

2019 saw Wauchula State Bank place emphasis on $100,000 or less loans with 53 originations, totaling $2,875,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	20	$1,310,000	$65,500	$0	0.00%
$75k-100k	20	$1,960,000	$98,000	$0	0.00%
$50k-75k	14	$1,050,000	$75,000	$0	0.00%
$100k-150k	13	$2,255,000	$173,462	$0	0.00%
$250k+	7	$1,345,000	$192,143	$0	0.00%
$150k-250k	3	$535,000	$178,333	$0	0.00%

Wauchula State Bank lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $75k-100k, with 20 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	105	$19,435,000	$185,095	$0	0.00%

Wauchula State Bank lent most frequently to those with DTI ratios of Exempt%, with 105 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	26	$10,660,000	$410,000	$0	0.00%
White	73	$8,435,000	$115,548	$0	0.00%
Not provided	2	$110,000	$55,000	$0	0.00%
American Indian	1	$105,000	$105,000	$0	0.00%
Black	2	$70,000	$35,000	$0	0.00%
Asian	1	$55,000	$55,000	$0	0.00%

Approval Rates

Total approvals of all applications
78.66%

Wauchula State Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
77.14%

Wauchula State Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	105	$19,435,000	$185,095

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	4	$2,840,000	$710,000
Multifamily:Site-Built	7	$4,455,000	$636,429
Single Family (1-4 Units):Manufactured	15	$665,000	$44,333
Single Family (1-4 Units):Site-Built	79	$11,475,000	$145,253

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	$313,847
Wauchula State Bank	1385 U.S. Highway 27 South Sebring, FL 33870	Full Service B&M	$70,591
Wauchula State Bank	200 North Oak Avenue Bowling Green, FL 33834	Full Service B&M	$25,664
Wauchula State Bank	301 Highway 17 North Zolfo Springs, FL 33890	Full Service B&M	$18,649
Wauchula State Bank	347 W Central Avenue, Ste 1 Winter Haven, FL 33881	Full Service B&M	$18,699
Wauchula State Bank	3900 U.S. Highway 27 North Sebring, FL 33870	Full Service B&M	$37,173
Wauchula State Bank	Interlake Boulevard At Main Street Lake Placid, FL 33852	Full Service B&M	$121,718

For 2019, Wauchula State Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$32,222
Net interest income	$29,028
Total noninterest income	$4,642
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,079
Trading account gains and fees	$0
Additional Noninterest Income	$2,563
Pre-tax net operating income	$15,432
Securities gains (or losses, -)	$-74
Income before extraordinary items	$15,358
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$15,358
Minority interest net income	$0
Net income	$15,358
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$15,432

Wauchula State Bank's gross interest income from loans was $32,222,000.
Wauchula State Bank's net interest income from loans was $29,028,000.
Wauchula State Bank's fee based income from loans was $2,079,000.
Wauchula State Bank's net income from loans was $15,358,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,194
Provision for credit losses	$1,214
Total noninterest expense	$17,024
Salaries and employee benefits	$12,401
Premises and equipment expense	$2,348
Additional noninterest expense	$2,275
Applicable income taxes	$0
Net charge-offs	$387
Cash dividends	$10,000

Wauchula State Bank's interest expense for loans was $3,194,000.
Wauchula State Bank's payroll and benefits expense were $12,401,000.
Wauchula State Bank's property, plant and equipment expenses $2,348,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	2.0%
Real Estate loans	2.0%
Construction & Land Development loans	1.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	2.0%
HELOC loans	6.0%
All other family	2.0%
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	$633,538
Deposits held in domestic offices	$633,538
Deposits by Individuals, partnerships, and corporations	$556,338
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$77,201
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	$100,853
Demand deposits	$48,859
Nontransaction accounts	$532,686
Money market deposit accounts (MMDAs)	$66,108
Other savings deposits (excluding MMDAs)	$313,323
Total time deposits	$153,255
Total time and savings deposits	$584,680
Noninterest-bearing deposits	$182,996
Interest-bearing deposits	$450,542
Retail deposits	$584,973
IRAs and Keogh plan accounts	$20,888
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$724,975
Cash & Balances due from depository institutions	$100,295
Interest-bearing balances	$93,906
Total securities	$163,491
Federal funds sold & reverse repurchase	$0
Net loans and leases	$447,059
Loan and leases loss allowance	$8,472
Trading account assets	$0
Bank premises and fixed assets	$6,666
Other real estate owned	$1,222
Goodwill and other intangibles	$0
All other assets	$6,242

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$724,975
Total Liabilities	$642,320
Total deposits	$633,538
Interest-bearing deposits	$450,542
Deposits held in domestic offices	$633,538
% insured (estimated)	$65
Federal funds purchased and repurchase agreements	$5,722
Trading liabilities	$0
Other borrowed funds	$592
Subordinated debt	$0
All other liabilities	$2,468

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$447,059
Loan and leases loss allowance	$8,472
Total loans and leases (domestic)	$455,531
All real estate loans	$419,189
Real estate loans in domestic offices	$419,189
Construction and development loans	$31,004
Residential 1-4 family construction	$625
Other construction, all land development and other land	$30,379
Loans secured by nonfarm nonresidential properties	$190,753
Nonfarm nonresidential secured by owner-occupied properties	$63,079
Commercial real estate & other non-farm, non-residential	$127,674
Multifamily residential real estate	$10,039
1-4 family residential loans	$123,599
Farmland loans	$63,794
Loans held in foreign offices	$0
Farm loans	$13,557
Commercial and industrial loans	$18,269
To non-U.S. addressees	$0
Loans to individuals	$4,168
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$1,319
Other loans to individuals	$2,849
All other loans & leases	$348
Loans to foreign governments and official institutions	$0
Other loans	$320
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	$2,377
Non 1-4 family restructured loans & leases	$1,970
Total loans and leases (foreign)	$0

Wauchula State Bank had $447,059,000 of loans outstanding in 2019. $419,189,000 of loans were in real estate loans. $31,004,000 of loans were in development loans. $10,039,000 of loans were in multifamily mortgage loans. $123,599,000 of loans were in 1-4 family mortgage loans. $13,557,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,319,000 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	283	$36,637	$129,459
Nonfarm, nonresidential loans - <$100k	90	$3,169	$35,211
Nonfarm, nonresidential loans - $100-250k	105	$12,205	$116,238
Nonfarm, nonresidential loans - $250k-1MM	88	$21,263	$241,625
Commercial & Industrial, US addressed loans - <$1MM	462	$10,661	$23,076
Commercial & Industrial, US addressed loans - <$100k	403	$4,879	$12,107
Commercial & Industrial, US addressed loans - $100-250k	31	$1,932	$62,323
Commercial & Industrial, US addressed loans - $250k-1MM	28	$3,850	$137,500
Farmland loans - <$1MM	247	$21,855	$88,482
Farmland loans - <$100k	118	$4,417	$37,432
Farmland loans - $100-250k	86	$8,665	$100,756
Farmland loans - $250k-1MM	43	$8,773	$204,023
Agriculture operations loans - <$1MM	95	$3,286	$34,589
Agriculture operations loans - <$100k	78	$1,051	$13,474
Agriculture operations loans - $100-250k	12	$1,078	$89,833
Agriculture operations loans - $250k-1MM	5	$1,157	$231,400