Sturgis Bank & Trust Mortgage Lending & HMDA Data, 2024
In 2024, Sturgis Bank & Trust of Sturgis, MI reported 469 mortgage applications totaling $70.9 million, up 1% from 2023. The average application was for $151,247, and applicants reported an average income of $134,102. 89% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Niles-Benton Harbor, MI (56), Kalamazoo-Portage, MI (45) and Battle Creek, MI (37) (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 | 469 |
| Total Mortgage Loan Application Amount | $70,935,000 |
| Average Mortgage Loan Application Amount | $151,247 |
| Highest Mortgage Loan Application Amount | $7,505,000 |
| Average Applicant Income | $134,102 |
| Highest Applicant Income | $4,168,000 |
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Act (HMDA) records Sturgis Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 188 | $ 16,820,000 | $ 89,468 | $ 123,000 |
| Berrien, Michigan | 56 | $ 28,250,000 | $ 504,464 | $ 227,000 |
| Van Buren, Michigan | 49 | $ 5,225,000 | $ 106,632 | $ 127,000 |
| Branch, Michigan | 48 | $ 3,520,000 | $ 73,333 | $ 79,000 |
| Kalamazoo, Michigan | 45 | $ 6,085,000 | $ 135,222 | $ 160,000 |
| Calhoun, Michigan | 37 | $ 4,425,000 | $ 119,594 | $ 95,000 |
| Cass, Michigan | 12 | $ 1,190,000 | $ 99,166 | $ 118,000 |
| Allegan, Michigan | 9 | $ 2,445,000 | $ 271,666 | $ 195,000 |
| LaGrange, Indiana | 4 | $ 400,000 | $ 100,000 | $ 87,000 |
| Barry, Michigan | 4 | $ 710,000 | $ 177,500 | $ 177,000 |
| St. Joseph, Indiana | 2 | $ 330,000 | $ 165,000 | $ 113,000 |
| Hillsdale, Michigan | 2 | $ 130,000 | $ 65,000 | $ 104,000 |
| Allen, Indiana | 1 | $ 25,000 | $ 25,000 | $ 75,000 |
| Elkhart, Indiana | 1 | $ 105,000 | $ 105,000 | $ 207,000 |
| Noble, Indiana | 1 | $ 25,000 | $ 25,000 | $ 61,000 |
| Steuben, Indiana | 1 | $ 55,000 | $ 55,000 | $ 131,000 |
| Charlevoix, Michigan | 1 | $ 35,000 | $ 35,000 | $ 100,000 |
| Eaton, Michigan | 1 | $ 75,000 | $ 75,000 | $ 93,000 |
| Ingham, Michigan | 1 | $ 95,000 | $ 95,000 | $ 25,000 |
| Jackson, Michigan | 1 | $ 205,000 | $ 205,000 | $ 76,000 |
| Kalkaska, Michigan | 1 | $ 105,000 | $ 105,000 | $ 214,000 |
| Manistee, Michigan | 1 | $ 255,000 | $ 255,000 | $ 120,000 |
| Oceana, Michigan | 1 | $ 335,000 | $ 335,000 | $ 285,000 |
| Ottawa, Michigan | 1 | $ 55,000 | $ 55,000 | $ 121,000 |
| Schoolcraft, Michigan | 1 | $ 35,000 | $ 35,000 | $ 49,000 |
Mortgage Loan Application Detail Totals for Sturgis Bank & Trust in 2024
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 |
|---|---|---|---|---|---|---|
| Other Purpose | 155 | $12,405,000 | $80,000 | $405,000 | $128,000 | $4,168,000 |
| Home Improvement | 121 | $9,595,000 | $79,000 | $425,000 | $118,000 | $743,000 |
| Home Purchase | 91 | $39,295,000 | $431,000 | $7,505,000 | $219,000 | $2,714,000 |
| Cash-out Refinancing | 87 | $8,235,000 | $94,000 | $405,000 | $86,000 | $285,000 |
| Refinancing | 15 | $1,405,000 | $93,000 | $495,000 | $91,000 | $184,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 414 | $47,270,000 | $114,000 | $735,000 | $135,000 | $4,168,000 |
| Not applicable | 25 | $20,715,000 | $828,000 | $7,505,000 | $0 | $0 |
| Hispanic | 16 | $1,210,000 | $75,000 | $165,000 | $73,000 | $322,000 |
| Black or African American | 6 | $500,000 | $83,000 | $305,000 | $89,000 | $271,000 |
| Asian | 4 | $390,000 | $97,000 | $165,000 | $92,000 | $119,000 |
| American Indian or Alaskan Native | 2 | $150,000 | $75,000 | $95,000 | $54,000 | $83,000 |
| Not Provided | 2 | $700,000 | $350,000 | $545,000 | $195,000 | $352,000 |
| 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) | 469 | $70,935,000 | $151,000 | $7,505,000 | $131,000 | $4,168,000 |
| 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 | 419 | $65,705,000 | $156,000 | $7,505,000 | $138,000 | $4,168,000 |
| Application Approved But Not Accepted | 37 | $4,175,000 | $112,000 | $465,000 | $81,000 | $216,000 |
| Application Denied By Financial Institution | 9 | $885,000 | $98,000 | $355,000 | $45,000 | $75,000 |
| Application Withdrawn By Applicant | 4 | $170,000 | $42,000 | $55,000 | $36,000 | $63,000 |
| 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 |
|---|---|---|---|---|---|---|
| Debt-To-Income Ratio | 469 | $70,935,000 | $151,000 | $7,505,000 | $131,000 | $4,168,000 |
| 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 |
| Not applicable | 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 Sturgis Bank & Trust's 2024 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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