Colonial Bank Mortgage Lending & HMDA Data, 2008
In 2008, Colonial Bank of Montgomery, AL reported 10,067 mortgage applications totaling $1.8 billion. The average application was for $180,940, and applicants reported an average income of $90,888. 78% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Atlanta-Sandy Springs-Marietta, GA (2,485), Orlando-Kissimmee, FL (462) and Montgomery, AL (424) (applications in parentheses).
| Mortgage Company & Address | Colonial Bank P. O Box 1108 Montgomery, AL 36101 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2008 |
| Total Number of Mortgage Applications | 10,067 |
| Total Mortgage Loan Application Amount | $1,821,530,000 |
| Average Mortgage Loan Application Amount | $180,940 |
| Highest Mortgage Loan Application Amount | $6,600,000 |
| Average Applicant Income | $90,888 |
| Highest Applicant Income | $7,892,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Colonial Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Atlanta-Sandy Springs-Marietta, GA | 2,485 | $ 428,048,000 | $ 172,252 | $ 66,000 |
| Orlando-Kissimmee, FL | 462 | $ 89,540,000 | $ 193,809 | $ 97,000 |
| Montgomery, AL | 424 | $ 56,437,000 | $ 133,106 | $ 63,000 |
| Tampa-St. Petersburg-Clearwater, FL | 407 | $ 83,542,000 | $ 205,262 | $ 116,000 |
| Birmingham-Hoover, AL | 382 | $ 37,336,000 | $ 97,738 | $ 66,000 |
| Columbus, GA-AL | 375 | $ 48,267,000 | $ 128,712 | $ 75,272 |
| Warner Robins, GA | 344 | $ 50,260,000 | $ 146,104 | $ 60,000 |
| Austin-Round Rock, TX | 343 | $ 72,627,000 | $ 211,740 | $ 114,000 |
| Idaho Falls, ID | 319 | $ 46,733,000 | $ 146,498 | $ 56,000 |
| Miami-Miami Beach-Kendall, FL | 286 | $ 107,202,000 | $ 374,832 | $ 206,000 |
| Las Vegas-Paradise, NV | 236 | $ 115,649,000 | $ 490,038 | $ 313,000 |
| Dallas-Plano-Irving, TX | 208 | $ 47,675,000 | $ 229,206 | $ 221,000 |
| Mobile, AL | 198 | $ 23,505,000 | $ 118,712 | $ 72,000 |
| Macon, GA | 178 | $ 23,423,000 | $ 131,589 | $ 65,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 162 | $ 47,579,000 | $ 293,697 | $ 86,000 |
| Auburn-Opelika, AL | 157 | $ 23,686,000 | $ 150,866 | $ 98,000 |
| Lakeland-Winter Haven, FL | 154 | $ 17,120,000 | $ 111,168 | $ 56,000 |
| Huntsville, AL | 145 | $ 22,436,000 | $ 154,731 | $ 79,000 |
| Cape Coral-Fort Myers, FL | 127 | $ 21,126,000 | $ 166,346 | $ 75,000 |
| Reno-Sparks, NV | 125 | $ 31,464,000 | $ 251,712 | $ 96,000 |
| Valdosta, GA | 115 | $ 17,795,000 | $ 154,739 | $ 62,000 |
| West Palm Beach-Boca Raton-Boynton Beach, FL | 104 | $ 42,217,000 | $ 405,932 | $ 172,000 |
| Jacksonville, FL | 103 | $ 19,753,000 | $ 191,776 | $ 68,000 |
| Dalton, GA | 80 | $ 9,033,000 | $ 112,912 | $ 44,000 |
| San Antonio, TX | 80 | $ 20,584,000 | $ 257,300 | $ 136,000 |
| Anniston-Oxford, AL | 79 | $ 4,910,000 | $ 62,151 | $ 43,000 |
| Palm Bay-Melbourne-Titusville, FL | 77 | $ 12,994,000 | $ 168,753 | $ 74,000 |
| Panama City-Lynn Haven, FL | 65 | $ 18,129,000 | $ 278,907 | $ 135,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 62 | $ 12,191,000 | $ 196,629 | $ 99,000 |
| Tuscaloosa, AL | 55 | $ 8,340,000 | $ 151,636 | $ 75,000 |
| Bradenton-Sarasota-Venice, FL | 51 | $ 16,710,000 | $ 327,647 | $ 71,000 |
| Dothan, AL | 39 | $ 4,094,000 | $ 104,974 | $ 45,000 |
| Palm Coast, FL | 36 | $ 6,439,000 | $ 178,861 | $ 73,000 |
| Port St. Lucie, FL | 33 | $ 9,136,000 | $ 276,848 | $ 83,000 |
| Fort Worth-Arlington, TX | 29 | $ 4,609,000 | $ 158,931 | $ 136,000 |
| Gadsden, AL | 29 | $ 4,241,000 | $ 146,241 | $ 112,000 |
| Naples-Marco Island, FL | 27 | $ 5,822,000 | $ 215,629 | $ 73,000 |
| Ocala, FL | 25 | $ 2,742,000 | $ 109,680 | $ 51,000 |
| Punta Gorda, FL | 19 | $ 3,108,000 | $ 163,578 | $ 85,000 |
| Gainesville, GA | 17 | $ 3,104,000 | $ 182,588 | $ 76,000 |
| Tallahassee, FL | 17 | $ 3,723,000 | $ 219,000 | $ 213,000 |
| Houston-Sugar Land-Baytown, TX | 12 | $ 1,750,000 | $ 145,833 | $ 85,000 |
| Albany, GA | 11 | $ 1,280,000 | $ 116,363 | $ 66,000 |
| Rome, GA | 11 | $ 1,190,000 | $ 108,181 | $ 37,000 |
| Carson City, NV | 9 | $ 2,499,000 | $ 277,666 | $ 200,000 |
| Fort Walton Beach-Crestview-Destin, FL | 8 | $ 7,406,000 | $ 925,750 | $ 857,000 |
| Jackson, MS | 8 | $ 495,000 | $ 61,875 | $ 75,000 |
| Pensacola-Ferry Pass-Brent, FL | 8 | $ 922,000 | $ 115,250 | $ 45,000 |
| Savannah, GA | 8 | $ 2,640,000 | $ 330,000 | $ 90,000 |
| Chattanooga, TN-GA | 7 | $ 941,000 | $ 134,428 | $ 51,857 |
| Decatur, AL | 6 | $ 647,000 | $ 107,833 | $ 64,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 6 | $ 726,000 | $ 121,000 | $ 49,000 |
| Gainesville, FL | 5 | $ 1,128,000 | $ 225,600 | $ 249,000 |
| Charlotte-Gastonia-Concord, NC-SC | 4 | $ 652,000 | $ 163,000 | $ 52,750 |
| Columbia, SC | 4 | $ 734,000 | $ 183,500 | $ 83,000 |
| Florence-Muscle Shoals, AL | 4 | $ 285,000 | $ 71,250 | $ 56,000 |
| Oxnard-Thousand Oaks-Ventura, CA | 4 | $ 1,303,000 | $ 325,750 | $ 118,000 |
| Anderson, SC | 3 | $ 387,000 | $ 129,000 | $ 38,000 |
| Columbus, OH | 3 | $ 640,000 | $ 213,333 | $ 85,000 |
| Corpus Christi, TX | 3 | $ 452,000 | $ 150,666 | $ 97,000 |
| Sacramento--Arden-Arcade--Roseville, CA | 3 | $ 551,000 | $ 183,666 | $ 50,000 |
| Abilene, TX | 2 | $ 286,000 | $ 143,000 | $ 65,000 |
| Baton Rouge, LA | 2 | $ 492,000 | $ 246,000 | $ 73,000 |
| Cleveland, TN | 2 | $ 255,000 | $ 127,500 | $ 76,000 |
| College Station-Bryan, TX | 2 | $ 165,000 | $ 82,500 | $ 71,000 |
| El Paso, TX | 2 | $ 572,000 | $ 286,000 | $ 310,000 |
| McAllen-Edinburg-Mission, TX | 2 | $ 2,000,000 | $ 1,000,000 | $ 561,000 |
| Pocatello, ID | 2 | $ 318,000 | $ 159,000 | $ 64,000 |
| Richmond, VA | 2 | $ 505,000 | $ 252,500 | $ 91,000 |
| Riverside-San Bernardino-Ontario, CA | 2 | $ 576,000 | $ 288,000 | $ 54,000 |
| San Diego-Carlsbad-San Marcos, CA | 2 | $ 1,017,000 | $ 508,500 | $ 478,000 |
| Amarillo, TX | 1 | $ 80,000 | $ 80,000 | $ 514,000 |
| Asheville, NC | 1 | $ 134,000 | $ 134,000 | $ 21,000 |
| Athens-Clarke County, GA | 1 | $ 102,000 | $ 102,000 | $ 31,000 |
| Augusta-Richmond County, GA-SC | 1 | $ 100,000 | $ 100,000 | $ 45,000 |
| Brunswick, GA | 1 | $ 101,000 | $ 101,000 | $ 590,000 |
| Charlottesville, VA | 1 | $ 417,000 | $ 417,000 | $ 639,000 |
| Cincinnati-Middletown, OH-KY-IN | 1 | $ 182,000 | $ 182,000 | $ 65,000 |
| Denver-Aurora, CO | 1 | $ 218,000 | $ 218,000 | $ 50,000 |
| Fayetteville, NC | 1 | $ 159,000 | $ 159,000 | $ 57,000 |
| Fort Collins-Loveland, CO | 1 | $ 220,000 | $ 220,000 | $ 97,000 |
| Greensboro-High Point, NC | 1 | $ 185,000 | $ 185,000 | $ 120,000 |
| Hattiesburg, MS | 1 | $ 130,000 | $ 130,000 | $ 68,000 |
| Huntington-Ashland, WV-KY-OH | 1 | $ 7,000 | $ 7,000 | $ 57,000 |
| Jackson, TN | 1 | $ 93,000 | $ 93,000 | $ 36,000 |
| Johnson City, TN | 1 | $ 250,000 | $ 250,000 | $ 120,000 |
| Kansas City, MO-KS | 1 | $ 143,000 | $ 143,000 | $ 51,000 |
| Killeen-Temple-Fort Hood, TX | 1 | $ 10,000 | $ 10,000 | $ 109,000 |
| Lewiston, ID-WA | 1 | $ 167,000 | $ 167,000 | $ 56,000 |
| Logan, UT-ID | 1 | $ 111,000 | $ 111,000 | $ 75,000 |
| Lubbock, TX | 1 | $ 124,000 | $ 124,000 | $ 155,000 |
| Midland, TX | 1 | $ 280,000 | $ 280,000 | $ 130,000 |
| Missoula, MT | 1 | $ 544,000 | $ 544,000 | $ 240,000 |
| Morristown, TN | 1 | $ 181,000 | $ 181,000 | $ 99,000 |
| Myrtle Beach-North Myrtle Beach-Conway, SC | 1 | $ 517,000 | $ 517,000 | $ 0 |
| Oklahoma City, OK | 1 | $ 166,000 | $ 166,000 | $ 115,000 |
| Pascagoula, MS | 1 | $ 130,000 | $ 130,000 | $ 87,000 |
| Philadelphia, PA | 1 | $ 60,000 | $ 60,000 | $ 55,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 187,000 | $ 187,000 | $ 71,000 |
| Raleigh-Cary, NC | 1 | $ 171,000 | $ 171,000 | $ 41,000 |
| Santa Fe, NM | 1 | $ 250,000 | $ 250,000 | $ 311,000 |
| Scranton--Wilkes-Barre, PA | 1 | $ 278,000 | $ 278,000 | $ 205,000 |
| Sherman-Denison, TX | 1 | $ 123,000 | $ 123,000 | $ 67,000 |
| Tyler, TX | 1 | $ 114,000 | $ 114,000 | $ 74,000 |
| Wichita Falls, TX | 1 | $ 212,000 | $ 212,000 | $ 90,000 |
Mortgage Loan Application Detail Totals for Colonial Bank in 2008
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 6,666 | $1,217,304,000 | $182,000 | $4,200,000 | $93,000 | $7,892,000 |
| Refinancing | 2,600 | $492,589,000 | $189,000 | $6,600,000 | $103,000 | $5,400,000 |
| Home Improvement | 801 | $111,637,000 | $139,000 | $6,000,000 | $34,000 | $649,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 5,997 | $1,026,515,000 | $171,000 | $6,600,000 | $102,000 | $6,036,000 |
| Black or African American | 2,502 | $394,353,000 | $157,000 | $4,000,000 | $59,000 | $1,185,000 |
| Hispanic | 662 | $128,520,000 | $194,000 | $2,625,000 | $121,000 | $7,892,000 |
| Not applicable | 411 | $159,791,000 | $388,000 | $6,000,000 | $6,000 | $1,400,000 |
| Not Provided | 325 | $82,201,000 | $252,000 | $3,135,000 | $170,000 | $4,533,000 |
| Asian | 136 | $25,470,000 | $187,000 | $1,080,000 | $116,000 | $982,000 |
| American Indian or Alaskan Native | 21 | $2,619,000 | $124,000 | $486,000 | $53,000 | $168,000 |
| Native Hawaiian or Other Pacific Islander | 13 | $2,061,000 | $158,000 | $880,000 | $85,000 | $551,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 5,389 | $1,083,687,000 | $201,000 | $6,600,000 | $119,000 | $7,892,000 |
| FHA-insured (Federal Housing Administration) | 3,955 | $615,285,000 | $155,000 | $409,000 | $57,000 | $528,000 |
| VA-guaranteed (Veterans Administration) | 596 | $107,773,000 | $180,000 | $1,467,000 | $65,000 | $716,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 127 | $14,785,000 | $116,000 | $247,000 | $40,000 | $85,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 7,898 | $1,322,414,000 | $167,000 | $5,000,000 | $83,000 | $5,250,000 |
| Application Withdrawn By Applicant | 882 | $208,708,000 | $236,000 | $6,000,000 | $108,000 | $4,440,000 |
| Application Denied By Financial Institution | 820 | $164,893,000 | $201,000 | $6,600,000 | $87,000 | $5,400,000 |
| Application Approved But Not Accepted | 381 | $92,841,000 | $243,000 | $4,770,000 | $200,000 | $7,892,000 |
| File Closed For Incompleteness | 86 | $32,674,000 | $379,000 | $3,540,000 | $199,000 | $1,555,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 341 | $23,784,000 | $69,000 | $1,200,000 | $52,000 | $814,000 |
| Debt-To-Income Ratio | 269 | $87,598,000 | $325,000 | $5,500,000 | $79,000 | $1,109,000 |
| Collateral | 113 | $26,932,000 | $238,000 | $6,600,000 | $146,000 | $2,944,000 |
| Other | 28 | $13,716,000 | $489,000 | $4,100,000 | $369,000 | $5,400,000 |
| Unverifiable Information | 24 | $5,222,000 | $217,000 | $1,265,000 | $91,000 | $491,000 |
| Credit Application Incomplete | 22 | $2,873,000 | $130,000 | $293,000 | $82,000 | $326,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 12 | $3,561,000 | $296,000 | $1,550,000 | $66,000 | $174,000 |
| Employment History | 11 | $1,207,000 | $109,000 | $372,000 | $54,000 | $199,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Colonial Bank's 2008 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Colonial Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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