Sturgis Bank & Trust Mortgage Lending & HMDA Data, 2006
In 2006, Sturgis Bank & Trust of Sturgis, MI reported 131 mortgage applications totaling $4.9 million, up 15% from 2005. The average application was for $37,564, and applicants reported an average income of $57,465. 86% of its applications resulted in an originated loan and 10% were denied. Its largest markets were Kalamazoo-Portage, MI (11), South Bend-Mishawaka, IN-MI (2) and Gary, IN (1) (applications in parentheses).
| Mortgage Company & Address | Sturgis Bank & Trust 113-125 E Chicago Rd Sturgis, MI 49091 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 | 131 |
| Total Mortgage Loan Application Amount | $4,921,000 |
| Average Mortgage Loan Application Amount | $37,564 |
| Highest Mortgage Loan Application Amount | $230,000 |
| Average Applicant Income | $57,465 |
| Highest Applicant Income | $312,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Sturgis Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| St. Joseph, Michigan | 87 | $ 3,320,000 | $ 38,160 | $ 61,000 |
| Branch, Michigan | 27 | $ 926,000 | $ 34,296 | $ 51,000 |
| Van Buren, Michigan | 9 | $ 321,000 | $ 35,666 | $ 35,000 |
| LaGrange, Indiana | 2 | $ 207,000 | $ 103,500 | $ 74,000 |
| Cass, Michigan | 2 | $ 65,000 | $ 32,500 | $ 104,000 |
| Kalamazoo, Michigan | 2 | $ 28,000 | $ 14,000 | $ 62,000 |
| Lake, Indiana | 1 | $ 20,000 | $ 20,000 | $ 7,000 |
| Hillsdale, Michigan | 1 | $ 34,000 | $ 34,000 | $ 75,000 |
Mortgage Loan Application Detail Totals for Sturgis Bank & Trust in 2006
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 | 76 | $3,176,000 | $41,000 | $230,000 | $54,000 | $300,000 |
| Home Improvement | 36 | $716,000 | $19,000 | $90,000 | $55,000 | $312,000 |
| Home Purchase | 19 | $1,029,000 | $54,000 | $182,000 | $76,000 | $225,000 |
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 | 109 | $3,955,000 | $36,000 | $230,000 | $61,000 | $312,000 |
| Hispanic | 15 | $411,000 | $27,000 | $77,000 | $42,000 | $66,000 |
| Not applicable | 6 | $405,000 | $67,000 | $114,000 | $0 | $0 |
| Asian | 1 | $150,000 | $150,000 | $150,000 | $300,000 | $300,000 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 131 | $4,921,000 | $37,000 | $230,000 | $58,000 | $312,000 |
| 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 | 113 | $4,260,000 | $37,000 | $230,000 | $60,000 | $312,000 |
| Application Denied By Financial Institution | 13 | $352,000 | $27,000 | $80,000 | $42,000 | $76,000 |
| Application Withdrawn By Applicant | 5 | $309,000 | $61,000 | $77,000 | $54,000 | $63,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Application Approved But Not Accepted | 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 |
|---|---|---|---|---|---|---|
| Credit History | 6 | $100,000 | $16,000 | $35,000 | $41,000 | $75,000 |
| Debt-To-Income Ratio | 5 | $245,000 | $49,000 | $80,000 | $48,000 | $76,000 |
| Employment History | 2 | $7,000 | $3,000 | $5,000 | $32,000 | $42,000 |
| 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sturgis Bank & Trust's 2006 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 Sturgis 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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