Southern Michigan Bank & Trust Mortgage Lending & HMDA Data, 2009
In 2009, Southern Michigan Bank & Trust of Coldwater, MI reported 703 mortgage applications totaling $79.8 million, up 1016% from 2008. The average application was for $113,472, and applicants reported an average income of $63,011. 63% of its applications resulted in an originated loan and 24% were denied. Its largest markets were Battle Creek, MI (114), Kalamazoo-Portage, MI (18) and South Bend-Mishawaka, IN-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 | 703 |
| Total Mortgage Loan Application Amount | $79,771,000 |
| Average Mortgage Loan Application Amount | $113,472 |
| Highest Mortgage Loan Application Amount | $2,167,000 |
| Average Applicant Income | $63,011 |
| Highest Applicant Income | $1,006,000 |
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records Southern Michigan Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Battle Creek, MI | 114 | $ 13,628,000 | $ 119,543 | $ 72,000 |
| Kalamazoo-Portage, MI | 18 | $ 2,172,000 | $ 120,666 | $ 63,000 |
| South Bend-Mishawaka, IN-MI | 17 | $ 2,418,000 | $ 142,235 | $ 70,176 |
| Lansing-East Lansing, MI | 8 | $ 773,000 | $ 96,625 | $ 79,000 |
| Grand Rapids-Wyoming, MI | 6 | $ 1,090,000 | $ 181,666 | $ 93,000 |
| Ann Arbor, MI | 2 | $ 607,000 | $ 303,500 | $ 59,000 |
| Holland-Grand Haven, MI | 2 | $ 448,000 | $ 224,000 | $ 59,000 |
| Niles-Benton Harbor, MI | 2 | $ 450,000 | $ 225,000 | $ 55,000 |
| Warren-Troy-Farmington Hills, MI | 2 | $ 423,000 | $ 211,500 | $ 93,000 |
| Elkhart-Goshen, IN | 1 | $ 105,000 | $ 105,000 | $ 102,000 |
| Jackson, MI | 1 | $ 223,000 | $ 223,000 | $ 113,000 |
| Lake Havasu City-Kingman, AZ | 1 | $ 110,000 | $ 110,000 | $ 104,000 |
| Lima, OH | 1 | $ 35,000 | $ 35,000 | $ 36,000 |
| Reno-Sparks, NV | 1 | $ 2,167,000 | $ 2,167,000 | $ 0 |
Mortgage Loan Application Detail Totals for Southern Michigan 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 | 508 | $66,051,000 | $130,000 | $2,167,000 | $66,000 | $1,006,000 |
| Home Purchase | 151 | $10,994,000 | $72,000 | $400,000 | $55,000 | $407,000 |
| Home Improvement | 44 | $2,726,000 | $61,000 | $260,000 | $56,000 | $278,000 |
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 | 670 | $76,019,000 | $113,000 | $2,167,000 | $63,000 | $1,006,000 |
| Black or African American | 8 | $691,000 | $86,000 | $170,000 | $67,000 | $247,000 |
| Asian | 7 | $983,000 | $140,000 | $259,000 | $49,000 | $88,000 |
| Not applicable | 7 | $776,000 | $110,000 | $240,000 | $0 | $0 |
| Not Provided | 5 | $884,000 | $176,000 | $417,000 | $196,000 | $345,000 |
| Hispanic | 4 | $301,000 | $75,000 | $81,000 | $56,000 | $59,000 |
| American Indian or Alaskan Native | 2 | $117,000 | $58,000 | $60,000 | $34,000 | $35,000 |
| 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) | 697 | $79,254,000 | $113,000 | $2,167,000 | $64,000 | $1,006,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 6 | $517,000 | $86,000 | $102,000 | $37,000 | $62,000 |
| VA-guaranteed (Veterans Administration) | 0 | $0 | $0 | $0 | $0 | $0 |
| FHA-insured (Federal Housing 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 | 444 | $53,362,000 | $120,000 | $2,167,000 | $68,000 | $1,006,000 |
| Application Denied By Financial Institution | 170 | $16,994,000 | $99,000 | $417,000 | $51,000 | $345,000 |
| Application Approved But Not Accepted | 63 | $7,049,000 | $111,000 | $417,000 | $66,000 | $330,000 |
| Application Withdrawn By Applicant | 13 | $1,213,000 | $93,000 | $251,000 | $45,000 | $67,000 |
| File Closed For Incompleteness | 6 | $781,000 | $130,000 | $160,000 | $94,000 | $250,000 |
| Preapproval Approved but not Accepted | 6 | $282,000 | $47,000 | $76,000 | $31,000 | $50,000 |
| Preapproval Denied by Financial Institution | 1 | $90,000 | $90,000 | $90,000 | $40,000 | $40,000 |
| Loan Purchased By The 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 | 1 | $180,000 | $180,000 | $180,000 | $58,000 | $58,000 |
| 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 |
| 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 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 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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