Destin Bank Mortgage Lending & HMDA Data, 2004
In 2004, Destin Bank of Destin, FL reported 1,049 mortgage applications totaling $312.0 million, down 23% from 2003. The average application was for $297,453, and applicants reported an average income of $208,664. 77% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Fort Walton Beach-Crestview-Destin, FL (387), Panama City-Lynn Haven, FL (114) and Pensacola-Ferry Pass-Brent, FL (67) (applications in parentheses).
| Mortgage Company & Address | Destin Bank P.O. Box 248 Destin, FL 32540 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2004 2003 |
| Total Number of Mortgage Applications | 1,049 |
| Total Mortgage Loan Application Amount | $312,029,000 |
| Average Mortgage Loan Application Amount | $297,453 |
| Highest Mortgage Loan Application Amount | $2,240,000 |
| Average Applicant Income | $208,664 |
| Highest Applicant Income | $4,200,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Destin Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Walton, Florida | 478 | $ 154,175,000 | $ 322,541 | $ 187,000 |
| Okaloosa, Florida | 387 | $ 111,477,000 | $ 288,054 | $ 160,000 |
| Bay, Florida | 114 | $ 30,090,000 | $ 263,947 | $ 234,000 |
| Santa Rosa, Florida | 43 | $ 10,624,000 | $ 247,069 | $ 191,000 |
| Escambia, Florida | 24 | $ 4,810,000 | $ 200,416 | $ 249,000 |
| Gulf, Florida | 1 | $ 758,000 | $ 758,000 | $ 600,000 |
| Holmes, Florida | 1 | $ 60,000 | $ 60,000 | $ 87,000 |
| Jackson, Florida | 1 | $ 35,000 | $ 35,000 | $ 60,000 |
Mortgage Loan Application Detail Totals for Destin Bank in 2004
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 | 787 | $246,225,000 | $312,000 | $2,240,000 | $231,000 | $4,200,000 |
| Refinancing | 251 | $63,639,000 | $253,000 | $1,600,000 | $143,000 | $3,300,000 |
| Home Improvement | 11 | $2,165,000 | $196,000 | $650,000 | $109,000 | $501,000 |
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 | 595 | $176,922,000 | $297,000 | $2,240,000 | $148,000 | $2,900,000 |
| Not Provided | 370 | $115,698,000 | $312,000 | $2,240,000 | $235,000 | $4,200,000 |
| Not applicable | 38 | $11,767,000 | $309,000 | $1,450,000 | $379,000 | $1,192,000 |
| Hispanic | 18 | $2,405,000 | $133,000 | $255,000 | $55,000 | $210,000 |
| Asian | 17 | $3,628,000 | $213,000 | $540,000 | $267,000 | $1,200,000 |
| American Indian or Alaskan Native | 6 | $765,000 | $127,000 | $269,000 | $89,000 | $220,000 |
| Black or African American | 4 | $660,000 | $165,000 | $367,000 | $125,000 | $239,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $184,000 | $184,000 | $184,000 | $53,000 | $53,000 |
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) | 1,045 | $311,401,000 | $297,000 | $2,240,000 | $197,000 | $4,200,000 |
| VA-guaranteed (Veterans Administration) | 4 | $628,000 | $157,000 | $190,000 | $21,000 | $46,000 |
| FHA-insured (Federal Housing Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 804 | $239,734,000 | $298,000 | $2,170,000 | $212,000 | $3,300,000 |
| Application Withdrawn By Applicant | 133 | $39,301,000 | $295,000 | $1,396,000 | $225,000 | $4,200,000 |
| Application Denied By Financial Institution | 72 | $23,769,000 | $330,000 | $2,240,000 | $166,000 | $3,420,000 |
| Application Approved But Not Accepted | 29 | $6,439,000 | $222,000 | $650,000 | $124,000 | $600,000 |
| File Closed For Incompleteness | 11 | $2,786,000 | $253,000 | $735,000 | $137,000 | $562,000 |
| 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 |
|---|---|---|---|---|---|---|
| Other | 37 | $13,556,000 | $366,000 | $2,240,000 | $228,000 | $3,420,000 |
| Credit History | 15 | $3,696,000 | $246,000 | $786,000 | $90,000 | $258,000 |
| Debt-To-Income Ratio | 9 | $2,246,000 | $249,000 | $725,000 | $74,000 | $132,000 |
| Credit Application Incomplete | 4 | $790,000 | $197,000 | $500,000 | $174,000 | $274,000 |
| Collateral | 3 | $624,000 | $208,000 | $334,000 | $48,000 | $80,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $2,523,000 | $841,000 | $2,240,000 | $426,000 | $800,000 |
| Unverifiable Information | 1 | $334,000 | $334,000 | $334,000 | $98,000 | $98,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Destin Bank's 2004 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 Destin 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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