Sturgis Bank & Trust Mortgage Lending & HMDA Data, 2020
In 2020, Sturgis Bank & Trust of Sturgis, MI reported 88 mortgage applications totaling $14.1 million, up 28% from 2019. The average application was for $160,681, and applicants reported an average income of $116,522. 85% of its applications resulted in an originated loan and 5% were denied. Its largest markets were Kalamazoo-Portage, MI (14), Niles-Benton Harbor, MI (12) and South Bend-Mishawaka, IN-MI (4) (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 | 88 |
| Total Mortgage Loan Application Amount | $14,140,000 |
| Average Mortgage Loan Application Amount | $160,681 |
| Highest Mortgage Loan Application Amount | $4,305,000 |
| Average Applicant Income | $116,522 |
| Highest Applicant Income | $1,027,000 |
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Act (HMDA) records Sturgis Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 |
|---|---|---|---|---|
| Outside any metro area | 56 | $ 10,460,000 | $ 186,785 | $ 101,000 |
| Kalamazoo-Portage, MI | 14 | $ 1,620,000 | $ 115,714 | $ 124,000 |
| Niles-Benton Harbor, MI | 12 | $ 1,050,000 | $ 87,500 | $ 231,000 |
| South Bend-Mishawaka, IN-MI | 4 | $ 220,000 | $ 55,000 | $ 68,000 |
| Grand Rapids-Wyoming, MI | 1 | $ 155,000 | $ 155,000 | $ 0 |
| Muskegon, MI | 1 | $ 635,000 | $ 635,000 | $ 0 |
Mortgage Loan Application Detail Totals for Sturgis Bank & Trust in 2020
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 34 | $9,160,000 | $269,000 | $4,305,000 | $91,000 | $320,000 |
| Other Purpose | 17 | $595,000 | $35,000 | $95,000 | $93,000 | $187,000 |
| Cash-out Refinancing | 15 | $1,395,000 | $93,000 | $405,000 | $116,000 | $521,000 |
| Home Improvement | 11 | $675,000 | $61,000 | $255,000 | $238,000 | $1,027,000 |
| Refinancing | 11 | $2,315,000 | $210,000 | $1,105,000 | $111,000 | $294,000 |
| 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 | 67 | $5,405,000 | $80,000 | $1,105,000 | $127,000 | $1,027,000 |
| Not applicable | 17 | $8,085,000 | $475,000 | $4,305,000 | $0 | $0 |
| Hispanic | 2 | $80,000 | $40,000 | $45,000 | $53,000 | $77,000 |
| American Indian or Alaskan Native | 1 | $35,000 | $35,000 | $35,000 | $19,000 | $19,000 |
| Not Provided | 1 | $535,000 | $535,000 | $535,000 | $34,000 | $34,000 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| 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) | 88 | $14,140,000 | $160,000 | $4,305,000 | $122,000 | $1,027,000 |
| 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 | 75 | $13,145,000 | $175,000 | $4,305,000 | $138,000 | $1,027,000 |
| Application Approved But Not Accepted | 7 | $295,000 | $42,000 | $75,000 | $38,000 | $75,000 |
| Application Denied By Financial Institution | 4 | $580,000 | $145,000 | $535,000 | $42,000 | $80,000 |
| Application Withdrawn By Applicant | 2 | $120,000 | $60,000 | $105,000 | $125,000 | $234,000 |
| 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 | 88 | $14,140,000 | $160,000 | $4,305,000 | $122,000 | $1,027,000 |
| 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 2020 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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