Sturgis Bank & Trust Mortgage Lending & HMDA Data, 2004
In 2004, Sturgis Bank & Trust of Sturgis, MI reported 123 mortgage applications totaling $4.7 million, down 32% from 2003. The average application was for $38,422, and applicants reported an average income of $37,512. 85% of its applications resulted in an originated loan and 13% were denied. Its largest markets were Kalamazoo-Portage, MI (18), Battle Creek, MI (2) and Grand Rapids-Wyoming, MI (2) (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 | 123 |
| Total Mortgage Loan Application Amount | $4,726,000 |
| Average Mortgage Loan Application Amount | $38,422 |
| Highest Mortgage Loan Application Amount | $425,000 |
| Average Applicant Income | $37,512 |
| Highest Applicant Income | $269,000 |
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Act (HMDA) records Sturgis Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Kalamazoo-Portage, MI | 18 | $ 1,734,000 | $ 96,333 | $ 31,000 |
| Battle Creek, MI | 2 | $ 26,000 | $ 13,000 | $ 31,000 |
| Grand Rapids-Wyoming, MI | 2 | $ 19,000 | $ 9,500 | $ 94,000 |
| Elkhart-Goshen, IN | 1 | $ 3,000 | $ 3,000 | $ 53,000 |
| Holland-Grand Haven, MI | 1 | $ 64,000 | $ 64,000 | $ 0 |
Mortgage Loan Application Detail Totals for Sturgis Bank & Trust in 2004
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 | 55 | $2,115,000 | $38,000 | $425,000 | $39,000 | $217,000 |
| Home Improvement | 37 | $402,000 | $7,000 | $83,000 | $48,000 | $160,000 |
| Home Purchase | 31 | $2,209,000 | $71,000 | $168,000 | $28,000 | $269,000 |
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 | 86 | $2,978,000 | $19,000 | $425,000 | $49,000 | $269,000 |
| Hispanic | 23 | $610,000 | $26,000 | $130,000 | $46,000 | $75,000 |
| Not applicable | 12 | $1,044,000 | $87,000 | $161,000 | $0 | $0 |
| Black or African American | 2 | $94,000 | $47,000 | $47,000 | $46,000 | $46,000 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 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) | 123 | $4,726,000 | $20,500 | $425,000 | $45,500 | $269,000 |
| 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 | 105 | $3,880,000 | $20,000 | $168,000 | $46,000 | $269,000 |
| Application Denied By Financial Institution | 16 | $401,000 | $25,000 | $72,000 | $32,000 | $66,000 |
| Application Withdrawn By Applicant | 2 | $445,000 | $222,000 | $425,000 | $46,000 | $69,000 |
| 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 | 7 | $61,000 | $8,000 | $30,000 | $25,000 | $45,000 |
| Debt-To-Income Ratio | 6 | $304,000 | $50,000 | $72,000 | $34,000 | $40,000 |
| Employment History | 2 | $6,000 | $3,000 | $3,000 | $27,000 | $34,000 |
| 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 2004 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.
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with aggregated HMDA statistics today.
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