Southern Bank & Trust Mortgage Lending & HMDA Data, 2009
In 2009, Southern Bank & Trust of Augusta, GA reported 75 mortgage applications totaling $18.3 million, up 7% from 2008. The average application was for $243,866, and applicants reported an average income of $93,920. 76% of its applications resulted in an originated loan and 15% were denied. Its largest markets were Augusta-Richmond County, GA-SC (65), Columbia, SC (2) and Durham-Chapel Hill, NC (1) (applications in parentheses).
| Mortgage Company & Address | Southern Bank & Trust P O Box 15367 Augusta, GA 30919 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2009 2008 2007 |
| Total Number of Mortgage Applications | 75 |
| Total Mortgage Loan Application Amount | $18,290,000 |
| Average Mortgage Loan Application Amount | $243,866 |
| Highest Mortgage Loan Application Amount | $1,506,000 |
| Average Applicant Income | $93,920 |
| Highest Applicant Income | $662,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Southern Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 & Trust in 2009
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 |
|---|---|---|---|---|---|---|
| Refinancing | 39 | $11,186,000 | $286,000 | $1,506,000 | $116,000 | $662,000 |
| Home Improvement | 18 | $3,834,000 | $213,000 | $901,000 | $87,000 | $250,000 |
| Home Purchase | 18 | $3,270,000 | $181,000 | $685,000 | $53,000 | $150,000 |
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 | 62 | $13,823,000 | $222,000 | $847,000 | $108,000 | $662,000 |
| Not applicable | 8 | $3,361,000 | $420,000 | $1,506,000 | $0 | $0 |
| Black or African American | 3 | $550,000 | $183,000 | $365,000 | $68,000 | $90,000 |
| Hispanic | 1 | $276,000 | $276,000 | $276,000 | $90,000 | $90,000 |
| Asian | 1 | $280,000 | $280,000 | $280,000 | $51,000 | $51,000 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 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) | 72 | $17,860,000 | $248,000 | $1,506,000 | $95,000 | $662,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 2 | $275,000 | $137,000 | $153,000 | $76,000 | $114,000 |
| FHA-insured (Federal Housing Administration) | 1 | $155,000 | $155,000 | $155,000 | $63,000 | $63,000 |
| VA-guaranteed (Veterans 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 | 57 | $13,930,000 | $244,000 | $1,506,000 | $102,000 | $662,000 |
| Application Denied By Financial Institution | 11 | $2,256,000 | $205,000 | $404,000 | $85,000 | $153,000 |
| Application Withdrawn By Applicant | 4 | $865,000 | $216,000 | $276,000 | $61,000 | $90,000 |
| Loan Purchased By The Institution | 2 | $1,228,000 | $614,000 | $685,000 | $0 | $0 |
| Application Approved But Not Accepted | 1 | $11,000 | $11,000 | $11,000 | $30,000 | $30,000 |
| File Closed For Incompleteness | 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 | 4 | $440,000 | $110,000 | $153,000 | $64,000 | $114,000 |
| Debt-To-Income Ratio | 3 | $961,000 | $320,000 | $404,000 | $90,000 | $121,000 |
| Collateral | 2 | $354,000 | $177,000 | $199,000 | $108,000 | $153,000 |
| Other | 2 | $501,000 | $250,000 | $365,000 | $99,000 | $109,000 |
| 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 Southern Bank & Trust's 2009 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 & Trust'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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