Southern Bank and Trust Company Mortgage Lending & HMDA Data, 2022
In 2022, Southern Bank and Trust Company of Mount Olive, NC reported 2,554 mortgage applications totaling $686.8 million, down 14% from 2021. The average application was for $268,911, and applicants reported an average income of $181,478. 85% of its applications resulted in an originated loan and 7% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (375), Rocky Mount, NC (308) and Greenville, NC (288) (applications in parentheses).
| Mortgage Company & Address | Southern Bank and Trust Company Po Box 729 Mount Olive, NC 28365 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 2,554 |
| Total Mortgage Loan Application Amount | $686,800,000 |
| Average Mortgage Loan Application Amount | $268,911 |
| Highest Mortgage Loan Application Amount | $5,005,000 |
| Average Applicant Income | $181,478 |
| Highest Applicant Income | $5,408,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Southern Bank and Trust Company filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for Southern Bank and Trust Company in 2022
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 | 1,094 | $423,990,000 | $387,000 | $4,375,000 | $175,000 | $2,100,000 |
| Other Purpose | 721 | $96,215,000 | $133,000 | $1,075,000 | $194,000 | $2,974,000 |
| Refinancing | 435 | $113,575,000 | $261,000 | $5,005,000 | $200,000 | $3,081,000 |
| Home Improvement | 164 | $18,700,000 | $114,000 | $1,005,000 | $173,000 | $5,408,000 |
| Cash-out Refinancing | 140 | $34,320,000 | $245,000 | $1,355,000 | $120,000 | $1,069,000 |
| 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 | 2,007 | $515,375,000 | $256,000 | $3,005,000 | $187,000 | $5,408,000 |
| Not applicable | 234 | $89,490,000 | $382,000 | $5,005,000 | $0 | $0 |
| Black or African American | 148 | $25,610,000 | $173,000 | $1,395,000 | $114,000 | $713,000 |
| Not Provided | 59 | $22,235,000 | $376,000 | $1,925,000 | $159,000 | $801,000 |
| Asian | 37 | $16,435,000 | $444,000 | $2,005,000 | $205,000 | $740,000 |
| Hispanic | 35 | $8,115,000 | $231,000 | $1,485,000 | $134,000 | $610,000 |
| American Indian or Alaskan Native | 4 | $1,030,000 | $257,000 | $425,000 | $125,000 | $228,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $345,000 | $345,000 | $345,000 | $68,000 | $68,000 |
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) | 2,525 | $678,265,000 | $268,000 | $5,005,000 | $182,000 | $5,408,000 |
| VA-guaranteed (Veterans Administration) | 21 | $7,055,000 | $335,000 | $505,000 | $112,000 | $187,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 8 | $1,480,000 | $185,000 | $245,000 | $70,000 | $96,000 |
| FHA-insured (Federal Housing Administration) | 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 | 2,183 | $589,925,000 | $270,000 | $5,005,000 | $194,000 | $5,408,000 |
| Application Denied By Financial Institution | 185 | $35,075,000 | $189,000 | $2,995,000 | $88,000 | $895,000 |
| Application Approved But Not Accepted | 93 | $27,015,000 | $290,000 | $1,355,000 | $147,000 | $1,017,000 |
| Application Withdrawn By Applicant | 45 | $16,555,000 | $367,000 | $1,065,000 | $161,000 | $557,000 |
| Preapproval Approved but not Accepted | 25 | $7,785,000 | $311,000 | $1,205,000 | $88,000 | $249,000 |
| Preapproval Denied by Financial Institution | 18 | $9,280,000 | $515,000 | $1,605,000 | $81,000 | $210,000 |
| File Closed For Incompleteness | 5 | $1,165,000 | $233,000 | $395,000 | $103,000 | $204,000 |
| Loan Purchased By The 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 | 2,351 | $642,445,000 | $273,000 | $5,005,000 | $190,000 | $5,408,000 |
| Debt-To-Income Ratio | 87 | $23,345,000 | $268,000 | $2,995,000 | $76,000 | $260,000 |
| Credit History | 75 | $10,925,000 | $145,000 | $1,085,000 | $80,000 | $420,000 |
| Collateral | 16 | $2,750,000 | $171,000 | $565,000 | $121,000 | $289,000 |
| Other | 13 | $4,885,000 | $375,000 | $1,585,000 | $149,000 | $895,000 |
| Credit Application Incomplete | 6 | $300,000 | $50,000 | $105,000 | $110,000 | $199,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 3 | $1,395,000 | $465,000 | $685,000 | $134,000 | $162,000 |
| Unverifiable Information | 2 | $510,000 | $255,000 | $305,000 | $125,000 | $250,000 |
| Employment History | 1 | $245,000 | $245,000 | $245,000 | $68,000 | $68,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Southern Bank and Trust Company's 2022 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 Southern Bank and Trust Company'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 North Carolina, download the full spreadsheet
with aggregated HMDA statistics today.
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