Southern Michigan Bank & Trust Mortgage Lending & HMDA Data, 2023
In 2023, Southern Michigan Bank & Trust of Coldwater, MI reported 337 mortgage applications totaling $78.3 million, down 2% from 2022. The average application was for $232,418, and applicants reported an average income of $117,801. 60% of its applications resulted in an originated loan and 19% were denied. Its largest markets were Battle Creek, MI (33), Jackson, MI (25) and Kalamazoo-Portage, 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 | 337 |
| Total Mortgage Loan Application Amount | $78,325,000 |
| Average Mortgage Loan Application Amount | $232,418 |
| Highest Mortgage Loan Application Amount | $14,605,000 |
| Average Applicant Income | $117,801 |
| Highest Applicant Income | $1,495,000 |
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records Southern Michigan Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 115 | $ 17,295,000 | $ 150,391 | $ 96,000 |
| Hillsdale, Michigan | 84 | $ 11,770,000 | $ 140,119 | $ 101,000 |
| Calhoun, Michigan | 33 | $ 4,685,000 | $ 141,969 | $ 121,000 |
| St. Joseph, Michigan | 33 | $ 3,225,000 | $ 97,727 | $ 104,000 |
| Jackson, Michigan | 25 | $ 13,355,000 | $ 534,200 | $ 127,000 |
| Kalamazoo, Michigan | 8 | $ 900,000 | $ 112,500 | $ 74,000 |
| Steuben, Indiana | 6 | $ 1,610,000 | $ 268,333 | $ 137,000 |
| Cass, Michigan | 5 | $ 805,000 | $ 161,000 | $ 117,000 |
| Lenawee, Michigan | 4 | $ 2,210,000 | $ 552,500 | $ 797,000 |
| Elkhart, Indiana | 3 | $ 215,000 | $ 71,666 | $ 154,000 |
| Collier, Florida | 2 | $ 1,940,000 | $ 970,000 | $ 1,368,000 |
| Isabella, Michigan | 2 | $ 380,000 | $ 190,000 | $ 140,000 |
| Ottawa, Michigan | 2 | $ 820,000 | $ 410,000 | $ 0 |
| Wayne, Michigan | 2 | $ 14,870,000 | $ 7,435,000 | $ 128,000 |
| Maricopa, Arizona | 1 | $ 295,000 | $ 295,000 | $ 0 |
| Mohave, Arizona | 1 | $ 875,000 | $ 875,000 | $ 0 |
| Monroe, Florida | 1 | $ 485,000 | $ 485,000 | $ 139,000 |
| Pinellas, Florida | 1 | $ 625,000 | $ 625,000 | $ 0 |
| Marion, Indiana | 1 | $ 15,000 | $ 15,000 | $ 78,000 |
| Union, Iowa | 1 | $ 95,000 | $ 95,000 | $ 77,000 |
| Clare, Michigan | 1 | $ 125,000 | $ 125,000 | $ 203,000 |
| Emmet, Michigan | 1 | $ 225,000 | $ 225,000 | $ 112,000 |
| Genesee, Michigan | 1 | $ 85,000 | $ 85,000 | $ 41,000 |
| Oakland, Michigan | 1 | $ 655,000 | $ 655,000 | $ 0 |
| Van Buren, Michigan | 1 | $ 165,000 | $ 165,000 | $ 134,000 |
| Washtenaw, Michigan | 1 | $ 505,000 | $ 505,000 | $ 141,000 |
| Williams, Ohio | 1 | $ 95,000 | $ 95,000 | $ 161,000 |
Mortgage Loan Application Detail Totals for Southern Michigan Bank & Trust 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 | 181 | $60,215,000 | $332,000 | $14,605,000 | $125,000 | $1,495,000 |
| Refinancing | 62 | $9,120,000 | $147,000 | $595,000 | $119,000 | $1,393,000 |
| Home Improvement | 45 | $3,715,000 | $82,000 | $655,000 | $95,000 | $473,000 |
| Other Purpose | 33 | $3,465,000 | $105,000 | $935,000 | $125,000 | $1,368,000 |
| Cash-out Refinancing | 16 | $1,810,000 | $113,000 | $305,000 | $81,000 | $240,000 |
| 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 | 286 | $44,570,000 | $155,000 | $1,355,000 | $121,000 | $1,495,000 |
| Not applicable | 22 | $28,940,000 | $1,315,000 | $14,605,000 | $0 | $0 |
| Not Provided | 13 | $2,425,000 | $186,000 | $405,000 | $105,000 | $226,000 |
| Hispanic | 8 | $1,020,000 | $127,000 | $285,000 | $81,000 | $182,000 |
| Black or African American | 4 | $520,000 | $130,000 | $305,000 | $28,000 | $47,000 |
| Asian | 3 | $815,000 | $271,000 | $355,000 | $141,000 | $214,000 |
| American Indian or Alaskan Native | 1 | $35,000 | $35,000 | $35,000 | $25,000 | $25,000 |
| 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) | 337 | $78,325,000 | $232,000 | $14,605,000 | $118,000 | $1,495,000 |
| 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 | 203 | $50,575,000 | $249,000 | $14,605,000 | $131,000 | $1,495,000 |
| Application Denied By Financial Institution | 65 | $7,195,000 | $110,000 | $425,000 | $76,000 | $291,000 |
| Application Approved But Not Accepted | 47 | $9,575,000 | $203,000 | $935,000 | $134,000 | $1,368,000 |
| Application Withdrawn By Applicant | 14 | $2,020,000 | $144,000 | $505,000 | $109,000 | $473,000 |
| File Closed For Incompleteness | 6 | $530,000 | $88,000 | $145,000 | $51,000 | $118,000 |
| Loan Purchased By The Institution | 2 | $8,430,000 | $4,215,000 | $7,055,000 | $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 | 337 | $78,325,000 | $232,000 | $14,605,000 | $118,000 | $1,495,000 |
| 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 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 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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