Southern Michigan Bank & Trust Mortgage Lending & HMDA Data, 2024
In 2024, Southern Michigan Bank & Trust of Coldwater, MI reported 348 mortgage applications totaling $74.7 million, up 3% from 2023. The average application was for $214,568, and applicants reported an average income of $110,491. 72% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Battle Creek, MI (37), Jackson, MI (37) and Kalamazoo-Portage, MI (12) (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 | 348 |
| Total Mortgage Loan Application Amount | $74,670,000 |
| Average Mortgage Loan Application Amount | $214,568 |
| Highest Mortgage Loan Application Amount | $4,505,000 |
| Average Applicant Income | $110,491 |
| Highest Applicant Income | $1,217,000 |
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records Southern Michigan Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 95 | $ 13,665,000 | $ 143,842 | $ 95,000 |
| Hillsdale, Michigan | 80 | $ 12,120,000 | $ 151,500 | $ 94,000 |
| St. Joseph, Michigan | 41 | $ 5,745,000 | $ 140,121 | $ 82,000 |
| Calhoun, Michigan | 37 | $ 5,895,000 | $ 159,324 | $ 119,000 |
| Jackson, Michigan | 37 | $ 9,395,000 | $ 253,918 | $ 136,000 |
| Kalamazoo, Michigan | 12 | $ 3,310,000 | $ 275,833 | $ 184,000 |
| LaGrange, Indiana | 4 | $ 1,150,000 | $ 287,500 | $ 105,000 |
| Ingham, Michigan | 4 | $ 400,000 | $ 100,000 | $ 70,000 |
| Oakland, Michigan | 4 | $ 10,840,000 | $ 2,710,000 | $ 342,000 |
| Cass, Michigan | 3 | $ 175,000 | $ 58,333 | $ 47,000 |
| Lenawee, Michigan | 3 | $ 855,000 | $ 285,000 | $ 80,000 |
| Washtenaw, Michigan | 3 | $ 2,445,000 | $ 815,000 | $ 114,000 |
| Williams, Ohio | 3 | $ 775,000 | $ 258,333 | $ 138,000 |
| Eaton, Michigan | 2 | $ 370,000 | $ 185,000 | $ 89,000 |
| Van Buren, Michigan | 2 | $ 1,650,000 | $ 825,000 | $ 106,000 |
| Randolph, Arkansas | 1 | $ 135,000 | $ 135,000 | $ 56,000 |
| Collier, Florida | 1 | $ 1,785,000 | $ 1,785,000 | $ 1,026,000 |
| Lee, Florida | 1 | $ 225,000 | $ 225,000 | $ 0 |
| Allen, Indiana | 1 | $ 175,000 | $ 175,000 | $ 129,000 |
| DeKalb, Indiana | 1 | $ 615,000 | $ 615,000 | $ 168,000 |
| Elkhart, Indiana | 1 | $ 355,000 | $ 355,000 | $ 88,000 |
| Noble, Indiana | 1 | $ 115,000 | $ 115,000 | $ 245,000 |
| Barry, Michigan | 1 | $ 95,000 | $ 95,000 | $ 140,000 |
| Charlevoix, Michigan | 1 | $ 205,000 | $ 205,000 | $ 0 |
| Clinton, Michigan | 1 | $ 15,000 | $ 15,000 | $ 38,000 |
| Emmet, Michigan | 1 | $ 425,000 | $ 425,000 | $ 259,000 |
| Monroe, Michigan | 1 | $ 405,000 | $ 405,000 | $ 45,000 |
| Montmorency, Michigan | 1 | $ 275,000 | $ 275,000 | $ 369,000 |
| Osceola, Michigan | 1 | $ 105,000 | $ 105,000 | $ 128,000 |
| Saginaw, Michigan | 1 | $ 195,000 | $ 195,000 | $ 88,000 |
| Paulding, Ohio | 1 | $ 465,000 | $ 465,000 | $ 168,000 |
| Wood, Ohio | 1 | $ 175,000 | $ 175,000 | $ 49,000 |
| Knox, Tennessee | 1 | $ 115,000 | $ 115,000 | $ 195,000 |
Mortgage Loan Application Detail Totals for Southern Michigan Bank & Trust in 2024
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 | 196 | $54,880,000 | $280,000 | $4,505,000 | $125,000 | $1,026,000 |
| Home Improvement | 46 | $6,840,000 | $148,000 | $3,005,000 | $101,000 | $492,000 |
| Cash-out Refinancing | 41 | $5,375,000 | $131,000 | $285,000 | $69,000 | $255,000 |
| Refinancing | 38 | $5,570,000 | $146,000 | $445,000 | $115,000 | $1,217,000 |
| Other Purpose | 27 | $2,005,000 | $74,000 | $225,000 | $78,000 | $175,000 |
| 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 | 300 | $58,690,000 | $195,000 | $3,015,000 | $109,000 | $1,217,000 |
| Not applicable | 20 | $10,590,000 | $529,000 | $4,505,000 | $0 | $0 |
| Not Provided | 15 | $2,775,000 | $185,000 | $475,000 | $92,000 | $264,000 |
| Hispanic | 7 | $1,185,000 | $169,000 | $285,000 | $129,000 | $284,000 |
| American Indian or Alaskan Native | 3 | $1,135,000 | $378,000 | $545,000 | $208,000 | $314,000 |
| Black or African American | 2 | $180,000 | $90,000 | $105,000 | $54,000 | $78,000 |
| Asian | 1 | $115,000 | $115,000 | $115,000 | $195,000 | $195,000 |
| 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) | 348 | $74,670,000 | $214,000 | $4,505,000 | $110,000 | $1,217,000 |
| 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 | 249 | $52,395,000 | $210,000 | $4,505,000 | $114,000 | $1,026,000 |
| Application Denied By Financial Institution | 37 | $10,845,000 | $293,000 | $3,015,000 | $81,000 | $492,000 |
| Application Approved But Not Accepted | 36 | $5,850,000 | $162,000 | $465,000 | $91,000 | $264,000 |
| File Closed For Incompleteness | 17 | $3,835,000 | $225,000 | $615,000 | $155,000 | $1,217,000 |
| Application Withdrawn By Applicant | 9 | $1,745,000 | $193,000 | $545,000 | $106,000 | $314,000 |
| 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 | 348 | $74,670,000 | $214,000 | $4,505,000 | $110,000 | $1,217,000 |
| 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 2024 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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