Merchants & Marine Bank Mortgage Lending & HMDA Data, 2023
In 2023, Merchants & Marine Bank of Pascagoula, MS reported 352 mortgage applications totaling $75.3 million, up 6% from 2022. The average application was for $213,778, and applicants reported an average income of $125,664. 77% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Hattiesburg, MS (125), Gulfport-Biloxi-Pascagoula, MS (87) and Daphne-Fairhope-Foley, AL (41) (applications in parentheses).
| Mortgage Company & Address | Merchants & Marine Bank P. O. Box 729 Pascagoula, MS 39567 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 352 |
| Total Mortgage Loan Application Amount | $75,250,000 |
| Average Mortgage Loan Application Amount | $213,778 |
| Highest Mortgage Loan Application Amount | $1,125,000 |
| Average Applicant Income | $125,664 |
| Highest Applicant Income | $1,170,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Merchants & Marine Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Hattiesburg, MS | 125 | $ 29,045,000 | $ 232,360 | $ 105,000 |
| Gulfport-Biloxi-Pascagoula, MS | 87 | $ 16,225,000 | $ 186,494 | $ 147,000 |
| Outside any metro area | 50 | $ 8,830,000 | $ 176,600 | $ 84,000 |
| Daphne-Fairhope-Foley, AL | 41 | $ 12,045,000 | $ 293,780 | $ 197,000 |
| Mobile, AL | 22 | $ 3,150,000 | $ 143,181 | $ 109,000 |
| Baton Rouge, LA | 14 | $ 2,900,000 | $ 207,142 | $ 115,000 |
| Jackson, MS | 5 | $ 1,085,000 | $ 217,000 | $ 88,000 |
| Florence-Muscle Shoals, AL | 2 | $ 200,000 | $ 100,000 | $ 0 |
| New Orleans-Metairie, LA | 2 | $ 250,000 | $ 125,000 | $ 39,000 |
| Denver-Aurora-Lakewood, CO | 1 | $ 655,000 | $ 655,000 | $ 150,000 |
| Nashville-Davidson--Murfreesboro--Franklin, TN | 1 | $ 295,000 | $ 295,000 | $ 232,000 |
| Shreveport-Bossier City, LA | 1 | $ 315,000 | $ 315,000 | $ 229,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 1 | $ 255,000 | $ 255,000 | $ 71,000 |
Mortgage Loan Application Detail Totals for Merchants & Marine Bank in 2023
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 | 244 | $59,190,000 | $242,000 | $1,125,000 | $115,000 | $664,000 |
| Refinancing | 79 | $12,305,000 | $155,000 | $875,000 | $168,000 | $1,170,000 |
| Cash-out Refinancing | 17 | $2,445,000 | $143,000 | $295,000 | $108,000 | $359,000 |
| Other Purpose | 7 | $595,000 | $85,000 | $235,000 | $83,000 | $140,000 |
| Home Improvement | 5 | $715,000 | $143,000 | $355,000 | $97,000 | $130,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 255 | $56,955,000 | $223,000 | $1,125,000 | $129,000 | $1,170,000 |
| Not applicable | 32 | $4,900,000 | $153,000 | $685,000 | $0 | $0 |
| Black or African American | 29 | $4,695,000 | $161,000 | $435,000 | $67,000 | $229,000 |
| Not Provided | 24 | $5,920,000 | $246,000 | $725,000 | $135,000 | $638,000 |
| Hispanic | 5 | $1,445,000 | $289,000 | $485,000 | $91,000 | $122,000 |
| Asian | 4 | $910,000 | $227,000 | $305,000 | $86,000 | $109,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 278 | $57,780,000 | $207,000 | $1,125,000 | $136,000 | $1,170,000 |
| FHA-insured (Federal Housing Administration) | 48 | $11,120,000 | $231,000 | $485,000 | $80,000 | $143,000 |
| VA-guaranteed (Veterans Administration) | 17 | $4,345,000 | $255,000 | $655,000 | $94,000 | $229,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 9 | $2,005,000 | $222,000 | $325,000 | $72,000 | $92,000 |
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 | 272 | $57,600,000 | $211,000 | $875,000 | $128,000 | $1,170,000 |
| Application Withdrawn By Applicant | 53 | $12,225,000 | $230,000 | $1,125,000 | $117,000 | $624,000 |
| Application Denied By Financial Institution | 26 | $5,410,000 | $208,000 | $525,000 | $98,000 | $638,000 |
| Application Approved But Not Accepted | 1 | $15,000 | $15,000 | $15,000 | $29,000 | $29,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 326 | $69,840,000 | $214,000 | $1,125,000 | $125,000 | $1,170,000 |
| Debt-To-Income Ratio | 11 | $2,615,000 | $237,000 | $525,000 | $67,000 | $159,000 |
| Credit History | 8 | $1,370,000 | $171,000 | $285,000 | $70,000 | $197,000 |
| Collateral | 6 | $1,300,000 | $216,000 | $495,000 | $200,000 | $638,000 |
| Other | 1 | $125,000 | $125,000 | $125,000 | $40,000 | $40,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Merchants & Marine Bank's 2023 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 Merchants & Marine 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.
For a list of all lenders in Mississippi, download the full spreadsheet
with aggregated HMDA statistics today.
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