Southern Michigan Bank & Trust Mortgage Lending & HMDA Data, 2021
In 2021, Southern Michigan Bank & Trust of Coldwater, MI reported 571 mortgage applications totaling $124.4 million, down 23% from 2020. The average application was for $217,837, and applicants reported an average income of $106,467. 75% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Battle Creek, MI (101), Kalamazoo-Portage, MI (46) and South Bend-Mishawaka, IN-MI (8) (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 | 571 |
| Total Mortgage Loan Application Amount | $124,385,000 |
| Average Mortgage Loan Application Amount | $217,837 |
| Highest Mortgage Loan Application Amount | $13,005,000 |
| Average Applicant Income | $106,467 |
| Highest Applicant Income | $2,400,000 |
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records Southern Michigan Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 174 | $ 29,040,000 | $ 166,896 | $ 98,000 |
| Calhoun, Michigan | 101 | $ 16,495,000 | $ 163,316 | $ 96,000 |
| Hillsdale, Michigan | 89 | $ 13,645,000 | $ 153,314 | $ 79,000 |
| St. Joseph, Michigan | 79 | $ 12,835,000 | $ 162,468 | $ 83,000 |
| Kalamazoo, Michigan | 46 | $ 16,160,000 | $ 351,304 | $ 164,000 |
| Steuben, Indiana | 16 | $ 2,920,000 | $ 182,500 | $ 89,000 |
| Cass, Michigan | 7 | $ 1,345,000 | $ 192,142 | $ 101,000 |
| Jackson, Michigan | 6 | $ 770,000 | $ 128,333 | $ 80,000 |
| Kent, Michigan | 5 | $ 3,855,000 | $ 771,000 | $ 95,000 |
| Washtenaw, Michigan | 4 | $ 890,000 | $ 222,500 | $ 133,000 |
| DeKalb, Indiana | 3 | $ 925,000 | $ 308,333 | $ 0 |
| Ingham, Michigan | 3 | $ 835,000 | $ 278,333 | $ 50,000 |
| Lenawee, Michigan | 3 | $ 385,000 | $ 128,333 | $ 77,000 |
| Van Buren, Michigan | 3 | $ 575,000 | $ 191,666 | $ 114,000 |
| Lee, Florida | 2 | $ 840,000 | $ 420,000 | $ 1,078,000 |
| Sarasota, Florida | 2 | $ 700,000 | $ 350,000 | $ 89,000 |
| Cook, Illinois | 2 | $ 2,090,000 | $ 1,045,000 | $ 2,017,000 |
| Elkhart, Indiana | 2 | $ 290,000 | $ 145,000 | $ 74,000 |
| LaGrange, Indiana | 2 | $ 300,000 | $ 150,000 | $ 46,000 |
| Noble, Indiana | 2 | $ 320,000 | $ 160,000 | $ 44,000 |
| Ottawa, Michigan | 2 | $ 150,000 | $ 75,000 | $ 41,000 |
| Charlotte, Florida | 1 | $ 135,000 | $ 135,000 | $ 97,000 |
| St. Joseph, Indiana | 1 | $ 95,000 | $ 95,000 | $ 130,000 |
| Baltimore, Maryland | 1 | $ 185,000 | $ 185,000 | $ 39,000 |
| Allegan, Michigan | 1 | $ 255,000 | $ 255,000 | $ 137,000 |
| Bay, Michigan | 1 | $ 265,000 | $ 265,000 | $ 248,000 |
| Chippewa, Michigan | 1 | $ 75,000 | $ 75,000 | $ 248,000 |
| Clare, Michigan | 1 | $ 125,000 | $ 125,000 | $ 57,000 |
| Clinton, Michigan | 1 | $ 205,000 | $ 205,000 | $ 0 |
| Crawford, Michigan | 1 | $ 125,000 | $ 125,000 | $ 0 |
| Eaton, Michigan | 1 | $ 165,000 | $ 165,000 | $ 136,000 |
| Emmet, Michigan | 1 | $ 545,000 | $ 545,000 | $ 457,000 |
| Gladwin, Michigan | 1 | $ 105,000 | $ 105,000 | $ 0 |
| Grand Traverse, Michigan | 1 | $ 115,000 | $ 115,000 | $ 80,000 |
| Mackinac, Michigan | 1 | $ 435,000 | $ 435,000 | $ 221,000 |
| Oakland, Michigan | 1 | $ 375,000 | $ 375,000 | $ 345,000 |
| Wayne, Michigan | 1 | $ 13,005,000 | $ 13,005,000 | $ 0 |
| Hamilton, Ohio | 1 | $ 215,000 | $ 215,000 | $ 65,000 |
| Milwaukee, Wisconsin | 1 | $ 2,595,000 | $ 2,595,000 | $ 0 |
Mortgage Loan Application Detail Totals for Southern Michigan Bank & Trust in 2021
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 | 188 | $39,010,000 | $207,000 | $2,595,000 | $94,000 | $471,000 |
| Home Purchase | 181 | $53,095,000 | $293,000 | $13,005,000 | $126,000 | $2,400,000 |
| Cash-out Refinancing | 159 | $27,205,000 | $171,000 | $545,000 | $100,000 | $717,000 |
| Home Improvement | 24 | $1,760,000 | $73,000 | $355,000 | $66,000 | $123,000 |
| Other Purpose | 19 | $3,315,000 | $174,000 | $1,605,000 | $149,000 | $1,634,000 |
| 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 | 498 | $86,020,000 | $172,000 | $1,605,000 | $102,000 | $1,634,000 |
| Not applicable | 55 | $35,465,000 | $644,000 | $13,005,000 | $0 | $0 |
| Hispanic | 10 | $1,300,000 | $130,000 | $265,000 | $90,000 | $308,000 |
| Black or African American | 4 | $630,000 | $157,000 | $255,000 | $106,000 | $163,000 |
| Not Provided | 2 | $260,000 | $130,000 | $135,000 | $63,000 | $67,000 |
| Asian | 2 | $710,000 | $355,000 | $485,000 | $1,368,000 | $2,400,000 |
| 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) | 571 | $124,385,000 | $217,000 | $13,005,000 | $106,000 | $2,400,000 |
| 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 | 426 | $98,550,000 | $231,000 | $13,005,000 | $109,000 | $1,634,000 |
| Application Denied By Financial Institution | 71 | $11,555,000 | $162,000 | $965,000 | $73,000 | $425,000 |
| Application Approved But Not Accepted | 51 | $10,055,000 | $197,000 | $1,005,000 | $99,000 | $499,000 |
| File Closed For Incompleteness | 16 | $2,990,000 | $186,000 | $485,000 | $238,000 | $2,400,000 |
| Application Withdrawn By Applicant | 7 | $1,235,000 | $176,000 | $385,000 | $71,000 | $163,000 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 500 | $112,830,000 | $225,000 | $13,005,000 | $112,000 | $2,400,000 |
| Debt-To-Income Ratio | 41 | $5,955,000 | $145,000 | $405,000 | $51,000 | $311,000 |
| Credit History | 13 | $1,535,000 | $118,000 | $265,000 | $70,000 | $132,000 |
| Collateral | 11 | $2,735,000 | $248,000 | $565,000 | $124,000 | $230,000 |
| Employment History | 2 | $50,000 | $25,000 | $25,000 | $79,000 | $96,000 |
| Unverifiable Information | 2 | $260,000 | $130,000 | $205,000 | $59,000 | $79,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $965,000 | $965,000 | $965,000 | $425,000 | $425,000 |
| Other | 1 | $55,000 | $55,000 | $55,000 | $24,000 | $24,000 |
| Credit Application Incomplete | 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 Michigan Bank & Trust's 2021 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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