Question 1

How many mortgage applications did First State Bank of the South, INC process?

Accepted Answer

First State Bank of the South, INC processed 40 mortgage applications in the 2024 HMDA reporting year. Of these, 37 were originated (approved and funded), 1 were withdrawn by the applicant, and 2 were denied.

Question 2

What is First State Bank of the South, INC's mortgage approval rate?

Accepted Answer

First State Bank of the South, INC has an approval (origination) rate of 92.5%, meaning 92.5% of all applications resulted in a funded mortgage. The denial rate is 5.0%.

Question 3

What is the average loan amount at First State Bank of the South, INC?

Accepted Answer

The average mortgage loan amount at First State Bank of the South, INC is $106,500. The average interest rate is 8.949%. The average applicant income is $36,000.

Question 4

What are the most common reasons for mortgage denial at First State Bank of the South, INC?

Accepted Answer

The most common reasons for mortgage denial at First State Bank of the South, INC are: Debt-to-income ratio, Credit history. In total, 2 applications were denied out of 40 total applications.

Question 5

What types of mortgage loans does First State Bank of the South, INC offer?

Accepted Answer

First State Bank of the South, INC processes Conventional loans. The most common type is Conventional with 40 applications and an average loan amount of $106,500.

Question 6

What loan purposes does First State Bank of the South, INC serve?

Accepted Answer

First State Bank of the South, INC serves the following loan purposes: Refinancing (15 applications), Home Purchase (12 applications), Cash-out Refinancing (11 applications), Other (2 applications). Refinancing is the most common purpose.

Question 7

Where is First State Bank of the South, INC located?

Accepted Answer

First State Bank of the South, INC is headquartered in SULLIGENT, AL. The lender is identified by LEI 549300ZABGDYBUG68F18 in HMDA data.

Question 8

Where does First State Bank of the South, INC sit among U.S. mortgage lenders?

Accepted Answer

According to CFPB HMDA 2024 originated-loan volume among all listed lenders, First State Bank of the South, INC ranks #4,194 of 4,908, and #81 of 95 among lenders headquartered in AL. It is below the 1,000-application origination-share board (40 applications). Its originated-loan count is higher than 14% of the 4,908 reporting lenders in this 2024 HMDA population. Ordinals use originated DESC matching the /lenders default sort. See /methodology#corpus-placement.

Question 9

How does First State Bank of the South, INC compare in lending across racial demographics?

Accepted Answer

First State Bank of the South, INC reports demographic lending data under HMDA requirements. White applicants have an approval rate of 90.9% and denial rate of 6.1%; Black or African American applicants have an approval rate of 100.0% and denial rate of 0.0%; Joint applicants have an approval rate of 100.0% and denial rate of 0.0%. This data reflects derived race categories as reported by applicants.

Race	Applications	Approval Rate	Denial Rate
White *	33	90.9%	6.1%
Black or African American *	3	100.0%	0.0%
Joint *	1	100.0%	0.0%

First State Bank of the South, INC

Loan types by applications · First State Bank of the Sou…

Cited denial reasons · First State Bank of the Sou…

Lending activity by loan program · First State Bank of the Sou…

Why borrowers applied

Reported outcomes by applicant race

Reported outcomes by applicant ethnicity

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Purpose	Applications	Originated	Avg Loan
Refinancing	15	15	$100,333
Home Purchase	12	9	$161,667
Cash-out Refinancing	11	11	$65,000
Other	2	2	$50,000