Sturgis Bank & Trust Mortgage Lending & HMDA Data, 2010
In 2010, Sturgis Bank & Trust of Sturgis, MI reported 174 mortgage applications totaling $8.4 million, up 24% from 2009. The average application was for $48,229, and applicants reported an average income of $30,149. 93% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Kalamazoo-Portage, MI (28), Elkhart-Goshen, IN (2) and South Bend-Mishawaka, IN-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 | 174 |
| Total Mortgage Loan Application Amount | $8,392,000 |
| Average Mortgage Loan Application Amount | $48,229 |
| Highest Mortgage Loan Application Amount | $592,000 |
| Average Applicant Income | $30,149 |
| Highest Applicant Income | $372,000 |
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Act (HMDA) records Sturgis Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 28 | $ 1,673,000 | $ 59,750 | $ 50,000 |
| Elkhart-Goshen, IN | 2 | $ 81,000 | $ 40,500 | $ 0 |
| South Bend-Mishawaka, IN-MI | 2 | $ 115,000 | $ 57,500 | $ 20,000 |
| Champaign-Urbana, IL | 1 | $ 64,000 | $ 64,000 | $ 144,000 |
| Niles-Benton Harbor, MI | 1 | $ 47,000 | $ 47,000 | $ 88,000 |
Mortgage Loan Application Detail Totals for Sturgis Bank & Trust in 2010
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 | 118 | $7,173,000 | $60,000 | $592,000 | $25,000 | $372,000 |
| Home Improvement | 32 | $526,000 | $16,000 | $50,000 | $53,000 | $119,000 |
| Home Purchase | 24 | $693,000 | $28,000 | $68,000 | $25,000 | $148,000 |
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 | 159 | $7,305,000 | $45,000 | $592,000 | $33,000 | $372,000 |
| Not applicable | 12 | $1,039,000 | $86,000 | $220,000 | $0 | $0 |
| Hispanic | 2 | $30,000 | $15,000 | $20,000 | $29,000 | $39,000 |
| Black or African American | 1 | $18,000 | $18,000 | $18,000 | $22,000 | $22,000 |
| 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) | 174 | $8,392,000 | $48,000 | $592,000 | $30,000 | $372,000 |
| 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 | 161 | $8,120,000 | $50,000 | $592,000 | $29,000 | $372,000 |
| Application Denied By Financial Institution | 7 | $179,000 | $25,000 | $75,000 | $35,000 | $85,000 |
| Application Withdrawn By Applicant | 5 | $46,000 | $9,000 | $13,000 | $43,000 | $57,000 |
| Application Approved But Not Accepted | 1 | $47,000 | $47,000 | $47,000 | $62,000 | $62,000 |
| 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 |
|---|---|---|---|---|---|---|
| Credit History | 2 | $20,000 | $10,000 | $14,000 | $69,000 | $85,000 |
| Debt-To-Income Ratio | 2 | $46,000 | $23,000 | $34,000 | $14,000 | $16,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $93,000 | $46,000 | $75,000 | $31,000 | $40,000 |
| Unverifiable Information | 1 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 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 2010 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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