Sturgis Bank & Trust Mortgage Lending & HMDA Data, 2009
In 2009, Sturgis Bank & Trust of Sturgis, MI reported 140 mortgage applications totaling $7.7 million, up 9% from 2008. The average application was for $55,264, and applicants reported an average income of $65,821. 86% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Kalamazoo-Portage, MI (11), Battle Creek, MI (1) and Elkhart-Goshen, 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 | 140 |
| Total Mortgage Loan Application Amount | $7,737,000 |
| Average Mortgage Loan Application Amount | $55,264 |
| Highest Mortgage Loan Application Amount | $550,000 |
| Average Applicant Income | $65,821 |
| Highest Applicant Income | $867,000 |
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Act (HMDA) records Sturgis Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 94 | $ 4,041,000 | $ 42,989 | $ 61,000 |
| Branch, Michigan | 26 | $ 981,000 | $ 37,730 | $ 56,000 |
| Van Buren, Michigan | 10 | $ 608,000 | $ 60,800 | $ 89,000 |
| Allegan, Michigan | 5 | $ 1,915,000 | $ 383,000 | $ 190,000 |
| Elkhart, Indiana | 1 | $ 40,000 | $ 40,000 | $ 37,000 |
| LaGrange, Indiana | 1 | $ 30,000 | $ 30,000 | $ 44,000 |
| Calhoun, Michigan | 1 | $ 20,000 | $ 20,000 | $ 24,000 |
| Cass, Michigan | 1 | $ 10,000 | $ 10,000 | $ 62,000 |
| Kalamazoo, Michigan | 1 | $ 92,000 | $ 92,000 | $ 85,000 |
Mortgage Loan Application Detail Totals for Sturgis 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 | 80 | $4,113,000 | $51,000 | $550,000 | $69,000 | $273,000 |
| Home Purchase | 35 | $3,024,000 | $86,000 | $541,000 | $72,000 | $867,000 |
| Home Improvement | 25 | $600,000 | $24,000 | $138,000 | $47,000 | $121,000 |
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 | 115 | $5,224,000 | $45,000 | $541,000 | $75,000 | $867,000 |
| Hispanic | 10 | $157,000 | $15,000 | $40,000 | $45,000 | $74,000 |
| Not applicable | 9 | $2,288,000 | $254,000 | $550,000 | $0 | $0 |
| Black or African American | 5 | $50,000 | $10,000 | $13,000 | $36,000 | $39,000 |
| American Indian or Alaskan Native | 1 | $18,000 | $18,000 | $18,000 | $10,000 | $10,000 |
| Asian | 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 |
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) | 140 | $7,737,000 | $55,000 | $550,000 | $66,000 | $867,000 |
| 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 | 121 | $6,915,000 | $57,000 | $550,000 | $68,000 | $867,000 |
| Application Denied By Financial Institution | 8 | $123,000 | $15,000 | $40,000 | $43,000 | $62,000 |
| Application Withdrawn By Applicant | 8 | $271,000 | $33,000 | $92,000 | $69,000 | $157,000 |
| Application Approved But Not Accepted | 2 | $103,000 | $51,000 | $71,000 | $41,000 | $83,000 |
| Loan Purchased By The Institution | 1 | $325,000 | $325,000 | $325,000 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 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 | 3 | $29,000 | $9,000 | $17,000 | $42,000 | $62,000 |
| Debt-To-Income Ratio | 3 | $48,000 | $16,000 | $22,000 | $44,000 | $51,000 |
| Employment History | 1 | $40,000 | $40,000 | $40,000 | $37,000 | $37,000 |
| Other | 1 | $6,000 | $6,000 | $6,000 | $51,000 | $51,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 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 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Sturgis 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 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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