Southern Michigan Bank & Trust Mortgage Lending & HMDA Data, 2020
In 2020, Southern Michigan Bank & Trust of Coldwater, MI reported 746 mortgage applications totaling $134.2 million, up 86% from 2019. The average application was for $179,852, and applicants reported an average income of $99,205. 69% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Battle Creek, MI (110), Kalamazoo-Portage, MI (40) and Jackson, MI (17) (applications in parentheses).
| Mortgage Company & Address | Southern Michigan Bank & Trust 51 West Pearl Street Coldwater, MI 49036 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 | 746 |
| Total Mortgage Loan Application Amount | $134,170,000 |
| Average Mortgage Loan Application Amount | $179,852 |
| Highest Mortgage Loan Application Amount | $8,005,000 |
| Average Applicant Income | $99,205 |
| Highest Applicant Income | $2,648,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Southern Michigan Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loans Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Branch, Michigan | 285 | $ 41,525,000 | $ 145,701 | $ 89,000 |
| Calhoun, Michigan | 111 | $ 15,795,000 | $ 142,297 | $ 97,000 |
| Hillsdale, Michigan | 105 | $ 13,705,000 | $ 130,523 | $ 81,000 |
| St. Joseph, Michigan | 98 | $ 13,210,000 | $ 134,795 | $ 71,000 |
| Kalamazoo, Michigan | 40 | $ 15,510,000 | $ 387,750 | $ 169,000 |
| Steuben, Indiana | 19 | $ 4,405,000 | $ 231,842 | $ 135,000 |
| Jackson, Michigan | 17 | $ 3,085,000 | $ 181,470 | $ 95,000 |
| Oakland, Michigan | 8 | $ 2,470,000 | $ 308,750 | $ 321,000 |
| Van Buren, Michigan | 7 | $ 2,485,000 | $ 355,000 | $ 136,000 |
| Allegan, Michigan | 5 | $ 1,175,000 | $ 235,000 | $ 113,000 |
| Cass, Michigan | 4 | $ 560,000 | $ 140,000 | $ 63,000 |
| Eaton, Michigan | 4 | $ 690,000 | $ 172,500 | $ 116,000 |
| Ingham, Michigan | 4 | $ 950,000 | $ 237,500 | $ 191,000 |
| Elkhart, Indiana | 3 | $ 495,000 | $ 165,000 | $ 85,000 |
| LaGrange, Indiana | 3 | $ 415,000 | $ 138,333 | $ 70,000 |
| Wayne, Michigan | 3 | $ 8,195,000 | $ 2,731,666 | $ 75,000 |
| Allen, Indiana | 2 | $ 420,000 | $ 210,000 | $ 90,000 |
| Washington, Indiana | 2 | $ 310,000 | $ 155,000 | $ 55,000 |
| Barry, Michigan | 2 | $ 920,000 | $ 460,000 | $ 31,000 |
| Lenawee, Michigan | 2 | $ 200,000 | $ 100,000 | $ 128,000 |
| Monroe, Michigan | 2 | $ 230,000 | $ 115,000 | $ 97,000 |
| Ottawa, Michigan | 2 | $ 270,000 | $ 135,000 | $ 99,000 |
| Williams, Ohio | 2 | $ 290,000 | $ 145,000 | $ 72,000 |
| Lee, Florida | 1 | $ 95,000 | $ 95,000 | $ 195,000 |
| Brown, Indiana | 1 | $ 335,000 | $ 335,000 | $ 210,000 |
| DeKalb, Indiana | 1 | $ 195,000 | $ 195,000 | $ 87,000 |
| St. Joseph, Indiana | 1 | $ 225,000 | $ 225,000 | $ 170,000 |
| Tippecanoe, Indiana | 1 | $ 55,000 | $ 55,000 | $ 0 |
| Washington, Maryland | 1 | $ 145,000 | $ 145,000 | $ 50,000 |
| Clare, Michigan | 1 | $ 155,000 | $ 155,000 | $ 36,000 |
| Emmet, Michigan | 1 | $ 4,355,000 | $ 4,355,000 | $ 2,648,000 |
| Genesee, Michigan | 1 | $ 25,000 | $ 25,000 | $ 68,000 |
| Huron, Michigan | 1 | $ 495,000 | $ 495,000 | $ 0 |
| Montcalm, Michigan | 1 | $ 205,000 | $ 205,000 | $ 180,000 |
| Washtenaw, Michigan | 1 | $ 75,000 | $ 75,000 | $ 57,000 |
| Delaware, Ohio | 1 | $ 125,000 | $ 125,000 | $ 41,000 |
| Franklin, Ohio | 1 | $ 135,000 | $ 135,000 | $ 49,000 |
| Beaufort, South Carolina | 1 | $ 125,000 | $ 125,000 | $ 65,000 |
| Milwaukee, Wisconsin | 1 | $ 115,000 | $ 115,000 | $ 44,000 |
Mortgage Loan Application Detail Totals for Southern Michigan Bank & Trust in 2020
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 | 365 | $68,015,000 | $186,000 | $8,005,000 | $103,000 | $2,648,000 |
| Home Purchase | 184 | $34,910,000 | $189,000 | $6,985,000 | $90,000 | $843,000 |
| Cash-out Refinancing | 166 | $28,380,000 | $170,000 | $515,000 | $102,000 | $600,000 |
| Home Improvement | 18 | $1,250,000 | $69,000 | $505,000 | $64,000 | $143,000 |
| Other Purpose | 13 | $1,615,000 | $124,000 | $555,000 | $136,000 | $344,000 |
| 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 | 697 | $112,625,000 | $161,000 | $4,355,000 | $101,000 | $2,648,000 |
| Not applicable | 21 | $18,145,000 | $864,000 | $8,005,000 | $0 | $0 |
| Hispanic | 12 | $1,210,000 | $100,000 | $205,000 | $43,000 | $104,000 |
| Not Provided | 7 | $975,000 | $139,000 | $205,000 | $61,000 | $141,000 |
| American Indian or Alaskan Native | 3 | $485,000 | $161,000 | $215,000 | $136,000 | $185,000 |
| Asian | 3 | $475,000 | $158,000 | $255,000 | $104,000 | $150,000 |
| Black or African American | 2 | $120,000 | $60,000 | $85,000 | $8,000 | $16,000 |
| 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) | 746 | $134,170,000 | $179,000 | $8,005,000 | $100,000 | $2,648,000 |
| 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 |
| 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 | 516 | $101,810,000 | $197,000 | $8,005,000 | $108,000 | $2,648,000 |
| Application Denied By Financial Institution | 104 | $13,160,000 | $126,000 | $515,000 | $55,000 | $325,000 |
| Application Approved But Not Accepted | 94 | $14,420,000 | $153,000 | $505,000 | $109,000 | $1,500,000 |
| Application Withdrawn By Applicant | 23 | $3,155,000 | $137,000 | $515,000 | $74,000 | $311,000 |
| File Closed For Incompleteness | 9 | $1,625,000 | $180,000 | $515,000 | $130,000 | $600,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 746 | $134,170,000 | $179,000 | $8,005,000 | $100,000 | $2,648,000 |
| 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 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Southern Michigan Bank & Trust's 2020 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 Michigan 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.
For a list of all lenders in Michigan, download the full spreadsheet
with aggregated HMDA statistics today.
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