Southern Michigan Bank & Trust Mortgage Lending & HMDA Data, 2017
In 2017, Southern Michigan Bank & Trust of Coldwater, MI reported 401 mortgage applications totaling $52.1 million, down 12% from 2016. The average application was for $129,977, and applicants reported an average income of $75,458. 77% of its applications resulted in an originated loan and 17% were denied. Its largest markets were Battle Creek, MI (56), Kalamazoo-Portage, MI (20) and Jackson, MI (5) (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 | 401 |
| Total Mortgage Loan Application Amount | $52,121,000 |
| Average Mortgage Loan Application Amount | $129,977 |
| Highest Mortgage Loan Application Amount | $2,800,000 |
| Average Applicant Income | $75,458 |
| Highest Applicant Income | $726,000 |
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records Southern Michigan Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 56 | $ 5,907,000 | $ 105,482 | $ 81,000 |
| Kalamazoo-Portage, MI | 20 | $ 3,728,000 | $ 186,400 | $ 47,000 |
| Jackson, MI | 5 | $ 549,000 | $ 109,800 | $ 79,000 |
| South Bend-Mishawaka, IN-MI | 5 | $ 990,000 | $ 198,000 | $ 89,400 |
| Lansing-East Lansing, MI | 4 | $ 515,000 | $ 128,750 | $ 88,000 |
| Fort Wayne, IN | 3 | $ 318,000 | $ 106,000 | $ 27,000 |
| Grand Rapids-Wyoming, MI | 3 | $ 276,000 | $ 92,000 | $ 38,000 |
| Ann Arbor, MI | 1 | $ 279,000 | $ 279,000 | $ 286,000 |
| Elkhart-Goshen, IN | 1 | $ 332,000 | $ 332,000 | $ 124,000 |
| Flint, MI | 1 | $ 2,800,000 | $ 2,800,000 | $ 0 |
| North Port-Sarasota-Bradenton, FL | 1 | $ 68,000 | $ 68,000 | $ 85,000 |
| Warren-Troy-Farmington Hills, MI | 1 | $ 270,000 | $ 270,000 | $ 726,000 |
Mortgage Loan Application Detail Totals for Southern Michigan Bank & Trust in 2017
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 | 177 | $24,835,000 | $140,000 | $1,265,000 | $84,000 | $630,000 |
| Refinancing | 171 | $22,617,000 | $132,000 | $2,800,000 | $68,000 | $726,000 |
| Home Improvement | 53 | $4,669,000 | $88,000 | $550,000 | $71,000 | $333,000 |
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 | 351 | $43,437,000 | $123,000 | $1,078,000 | $80,000 | $726,000 |
| Not applicable | 29 | $6,844,000 | $236,000 | $2,800,000 | $0 | $0 |
| Not Provided | 11 | $1,155,000 | $105,000 | $266,000 | $122,000 | $392,000 |
| Hispanic | 5 | $351,000 | $70,000 | $109,000 | $114,000 | $202,000 |
| Asian | 3 | $134,000 | $44,000 | $62,000 | $46,000 | $60,000 |
| Black or African American | 1 | $78,000 | $78,000 | $78,000 | $97,000 | $97,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $122,000 | $122,000 | $122,000 | $64,000 | $64,000 |
| American Indian or Alaskan Native | 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) | 400 | $51,931,000 | $129,000 | $2,800,000 | $75,000 | $726,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $190,000 | $190,000 | $190,000 | $94,000 | $94,000 |
| 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 | 309 | $39,879,000 | $129,000 | $2,800,000 | $74,000 | $630,000 |
| Application Denied By Financial Institution | 70 | $9,030,000 | $129,000 | $1,078,000 | $73,000 | $726,000 |
| Application Approved But Not Accepted | 19 | $3,062,000 | $161,000 | $688,000 | $112,000 | $392,000 |
| Application Withdrawn By Applicant | 3 | $150,000 | $50,000 | $72,000 | $46,000 | $52,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 2017 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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