Southern Michigan Bank & Trust Mortgage Lending & HMDA Data, 2014
In 2014, Southern Michigan Bank & Trust of Coldwater, MI reported 431 mortgage applications totaling $55.9 million, down 43% from 2013. The average application was for $129,624, and applicants reported an average income of $75,689. 75% of its applications resulted in an originated loan and 18% were denied. Its largest markets were Battle Creek, MI (48), Kalamazoo-Portage, MI (10) and Jackson, 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 | 431 |
| Total Mortgage Loan Application Amount | $55,868,000 |
| Average Mortgage Loan Application Amount | $129,624 |
| Highest Mortgage Loan Application Amount | $1,650,000 |
| Average Applicant Income | $75,689 |
| Highest Applicant Income | $1,064,000 |
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records Southern Michigan Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 48 | $ 6,741,000 | $ 140,437 | $ 78,000 |
| Kalamazoo-Portage, MI | 10 | $ 1,394,000 | $ 139,400 | $ 84,000 |
| Jackson, MI | 8 | $ 3,134,000 | $ 391,750 | $ 29,000 |
| Fort Wayne, IN | 4 | $ 511,000 | $ 127,750 | $ 57,000 |
| Lansing-East Lansing, MI | 4 | $ 1,958,000 | $ 489,500 | $ 57,000 |
| South Bend-Mishawaka, IN-MI | 4 | $ 748,000 | $ 187,000 | $ 52,000 |
| Grand Rapids-Wyoming, MI | 3 | $ 541,000 | $ 180,333 | $ 137,000 |
| Ann Arbor, MI | 2 | $ 545,000 | $ 272,500 | $ 62,000 |
| Cape Coral-Fort Myers, FL | 2 | $ 517,000 | $ 258,500 | $ 190,000 |
| Warren-Troy-Farmington Hills, MI | 2 | $ 540,000 | $ 270,000 | $ 177,000 |
| Detroit-Dearborn-Livonia, MI | 1 | $ 44,000 | $ 44,000 | $ 56,000 |
| Jacksonville, FL | 1 | $ 186,000 | $ 186,000 | $ 153,000 |
Mortgage Loan Application Detail Totals for Southern Michigan Bank & Trust in 2014
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 | 236 | $28,387,000 | $120,000 | $997,000 | $84,000 | $1,064,000 |
| Refinancing | 152 | $24,538,000 | $161,000 | $1,650,000 | $61,000 | $409,000 |
| Home Improvement | 43 | $2,943,000 | $68,000 | $250,000 | $82,000 | $311,000 |
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 | 404 | $44,807,000 | $110,000 | $997,000 | $78,000 | $1,064,000 |
| Not applicable | 16 | $9,764,000 | $610,000 | $1,650,000 | $0 | $0 |
| Black or African American | 4 | $401,000 | $100,000 | $166,000 | $70,000 | $89,000 |
| Hispanic | 3 | $594,000 | $198,000 | $417,000 | $128,000 | $177,000 |
| Asian | 3 | $287,000 | $95,000 | $173,000 | $112,000 | $217,000 |
| Not Provided | 1 | $15,000 | $15,000 | $15,000 | $33,000 | $33,000 |
| 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) | 380 | $51,531,000 | $135,000 | $1,650,000 | $80,000 | $1,064,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 51 | $4,337,000 | $85,000 | $166,000 | $40,000 | $72,000 |
| 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 | 322 | $43,850,000 | $136,000 | $1,600,000 | $77,000 | $1,040,000 |
| Application Denied By Financial Institution | 77 | $8,236,000 | $106,000 | $1,650,000 | $56,000 | $409,000 |
| Application Approved But Not Accepted | 27 | $3,159,000 | $117,000 | $380,000 | $111,000 | $1,064,000 |
| Application Withdrawn By Applicant | 4 | $475,000 | $118,000 | $221,000 | $63,000 | $88,000 |
| File Closed For Incompleteness | 1 | $148,000 | $148,000 | $148,000 | $105,000 | $105,000 |
| 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 |
|---|---|---|---|---|---|---|
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit History | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Southern Michigan Bank & Trust's 2014 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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