Thumb Bank & Trust Mortgage Lending & HMDA Data, 2020
In 2020, Thumb Bank & Trust of Pigeon, MI reported 449 mortgage applications totaling $66.9 million, up 134% from 2019. The average application was for $148,942, and applicants reported an average income of $115,367. 67% of its applications resulted in an originated loan and 14% were denied. Its largest markets were Bay City, MI (47), Warren-Troy-Farmington Hills, MI (38) and Grand Rapids-Wyoming, MI (12) (applications in parentheses).
| Mortgage Company & Address | Thumb Bank & Trust 7254 Michigan Ave., P.O. Box 560 Pigeon, MI 48755 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 |
| Total Number of Mortgage Applications | 449 |
| Total Mortgage Loan Application Amount | $66,875,000 |
| Average Mortgage Loan Application Amount | $148,942 |
| Highest Mortgage Loan Application Amount | $3,985,000 |
| Average Applicant Income | $115,367 |
| Highest Applicant Income | $5,193,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Thumb Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 | 290 | $ 36,480,000 | $ 125,793 | $ 113,944 |
| Bay City, MI | 47 | $ 10,425,000 | $ 221,808 | $ 87,000 |
| Warren-Troy-Farmington Hills, MI | 38 | $ 7,190,000 | $ 189,210 | $ 126,000 |
| Grand Rapids-Wyoming, MI | 12 | $ 2,320,000 | $ 193,333 | $ 148,000 |
| Saginaw, MI | 8 | $ 980,000 | $ 122,500 | $ 101,000 |
| Ann Arbor, MI | 7 | $ 1,845,000 | $ 263,571 | $ 198,000 |
| Lansing-East Lansing, MI | 7 | $ 1,125,000 | $ 160,714 | $ 87,000 |
| Detroit-Dearborn-Livonia, MI | 6 | $ 530,000 | $ 88,333 | $ 92,000 |
| Flint, MI | 6 | $ 900,000 | $ 150,000 | $ 88,000 |
| Lynchburg, VA | 6 | $ 650,000 | $ 108,333 | $ 186,000 |
| Kalamazoo-Portage, MI | 4 | $ 680,000 | $ 170,000 | $ 104,000 |
| Midland, MI | 4 | $ 630,000 | $ 157,500 | $ 129,000 |
| Chicago-Naperville, IL | 2 | $ 620,000 | $ 310,000 | $ 121,000 |
| Niles-Benton Harbor, MI | 2 | $ 80,000 | $ 40,000 | $ 73,000 |
| Athens-Clarke County, GA | 1 | $ 205,000 | $ 205,000 | $ 81,000 |
| Denver-Aurora-Lakewood, CO | 1 | $ 365,000 | $ 365,000 | $ 65,000 |
| Jackson, MI | 1 | $ 215,000 | $ 215,000 | $ 80,000 |
| Lake County-Kenosha County, IL-WI | 1 | $ 225,000 | $ 225,000 | $ 158,000 |
| Lake Havasu City-Kingman, AZ | 1 | $ 105,000 | $ 105,000 | $ 38,000 |
| Lakeland-Winter Haven, FL | 1 | $ 85,000 | $ 85,000 | $ 260,000 |
| Phoenix-Mesa-Scottsdale, AZ | 1 | $ 255,000 | $ 255,000 | $ 50,000 |
| San Diego-Carlsbad, CA | 1 | $ 545,000 | $ 545,000 | $ 77,000 |
| South Bend-Mishawaka, IN-MI | 1 | $ 65,000 | $ 65,000 | $ 66,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 1 | $ 355,000 | $ 355,000 | $ 700,000 |
Mortgage Loan Application Detail Totals for Thumb 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 |
|---|---|---|---|---|---|---|
| Refinancing | 170 | $29,240,000 | $172,000 | $3,985,000 | $132,000 | $5,193,000 |
| Home Purchase | 111 | $14,125,000 | $127,000 | $405,000 | $101,000 | $619,000 |
| Cash-out Refinancing | 82 | $12,270,000 | $149,000 | $515,000 | $100,000 | $541,000 |
| Home Improvement | 71 | $10,405,000 | $146,000 | $545,000 | $119,000 | $729,000 |
| Other Purpose | 15 | $835,000 | $55,000 | $315,000 | $100,000 | $500,000 |
| 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 | 396 | $53,790,000 | $135,000 | $545,000 | $102,000 | $729,000 |
| Not Provided | 37 | $5,665,000 | $153,000 | $435,000 | $131,000 | $500,000 |
| Hispanic | 8 | $1,650,000 | $206,000 | $785,000 | $700,000 | $5,193,000 |
| Asian | 4 | $720,000 | $180,000 | $285,000 | $96,000 | $120,000 |
| Not applicable | 3 | $4,865,000 | $1,621,000 | $3,985,000 | $0 | $0 |
| Black or African American | 1 | $185,000 | $185,000 | $185,000 | $115,000 | $115,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 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) | 449 | $66,875,000 | $148,000 | $3,985,000 | $115,000 | $5,193,000 |
| 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 | 300 | $45,250,000 | $150,000 | $3,985,000 | $121,000 | $5,193,000 |
| Application Approved But Not Accepted | 83 | $13,215,000 | $159,000 | $515,000 | $124,000 | $500,000 |
| Application Denied By Financial Institution | 65 | $8,285,000 | $127,000 | $425,000 | $76,000 | $700,000 |
| File Closed For Incompleteness | 1 | $125,000 | $125,000 | $125,000 | $0 | $0 |
| Application Withdrawn By Applicant | 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 | 449 | $66,875,000 | $148,000 | $3,985,000 | $115,000 | $5,193,000 |
| 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 Thumb 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 Thumb 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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