PlainLender

MAGNOLIA BANK

Elizabethtown, KY

MAGNOLIA BANK processed 5,338 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 4,002 loans with a 7.8% denial rate. Home Purchase was the primary loan purpose. Based in Elizabethtown, KY. The approval rate of 75.0% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. MAGNOLIA BANK processed 5,338 HMDA-reported mortgage applications in 2024, originating 4,002 loans and denying 417 for a denial rate of 7.8% (applicants themselves withdrew 792 files before a decision). The average loan amount was $301,920 at a 6.410% average note rate, and applicants self-reported an average income of $39,000. The lender reports under LEI 549300REENMLD2RN3W58 from Elizabethtown, KY.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. MAGNOLIA BANK's 75.0% origination rate tells you how often an application turned into funded money; the 7.8% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Collateral, Credit history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (2,308 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

5,338
Applications
4,002
Originated
7.8%
Denial Rate
$301,920
Avg Loan Amount
Avg Interest Rate: 6.410% Avg Applicant Income: $39,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 2,308 1,834 107 $271,326
VA 1,807 1,263 184 $377,728
FHA 907 666 98 $268,021
USDA 316 239 28 $189,177

Top loan types — MAGNOLIA BANK

Top loan types — MAGNOLIA BANK Horizontal bar chart of the top 4 items by value (applications). Top loan types — MAGNOLIA BANK Top 4 1. Conventional 2,308 2. VA 1,807 3. FHA 907 4. USDA 316 Top 5 loan types by application volume at MAGNOLIA BANK (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for MAGNOLIA BANK (LEI: 549300REENMLD2RN3W58) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
205
Collateral
108
Credit history
100
Other
51
Insufficient cash
27
Employment history
27
Unverifiable information
20

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 3,073 2,510 $271,098
Cash-out Refinancing 1,720 1,119 $363,605
Refinancing 374 267 $320,963
Other 99 56 $219,040
Home Improvement 72 50 $158,889

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 4,006 77.7% 6.5%
Black or African American 640 65.6% 15.0%
Asian 154 63.6% 10.4%
Joint 76 71.0% 6.6%
American Indian or Alaska Native 31 61.3% 12.9%
2 or more minority races 14 64.3% 7.1%
Native Hawaiian or Other Pacific Islander 10 50.0% 20.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 4,552 75.5% 7.8%
Hispanic or Latino 315 67.0% 11.1%
Joint 108 77.8% 3.7%

Nearby Lenders in KY

Other HMDA-reporting lenders in KY with similar activity. Compare any two side-by-side.

STOCKTON MORTGAGE CORPORATION

FRANKFORT, KY

12,011 apps 7,797 originated 6.5% denied

Liberty Federal Credit Union

Louisville, KY

6,132 apps 4,679 originated 7.9% denied

FARM CREDIT MID-AMERICA, ACA

LOUISVILLE, KY

5,902 apps 4,311 originated 10.4% denied

REPUBLIC BANK & TRUST

LOUISVILLE, KY

3,866 apps 2,192 originated 13.1% denied

STOCK YARDS BANK & TRUST COMPANY

LOUISVILLE, KY

3,447 apps 2,255 originated 21.3% denied
Compare MAGNOLIA BANK vs STOCKTON MORTGAGE CORPORATION →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did MAGNOLIA BANK process?
MAGNOLIA BANK processed 5,338 mortgage applications in the 2023 HMDA reporting year. Of these, 4,002 were originated (approved and funded), 792 were withdrawn by the applicant, and 417 were denied.
What is MAGNOLIA BANK's mortgage approval rate?
MAGNOLIA BANK has an approval (origination) rate of 75.0%, meaning 75.0% of all applications resulted in a funded mortgage. The denial rate is 7.8%.
What is the average loan amount at MAGNOLIA BANK?
The average mortgage loan amount at MAGNOLIA BANK is $301,920. The average interest rate is 6.410%. The average applicant income is $39,000.
What are the most common reasons for mortgage denial at MAGNOLIA BANK?
The most common reasons for mortgage denial at MAGNOLIA BANK are: Debt-to-income ratio, Collateral, Credit history. In total, 417 applications were denied out of 5,338 total applications.
What types of mortgage loans does MAGNOLIA BANK offer?
MAGNOLIA BANK processes Conventional, VA, FHA, USDA loans. The most common type is Conventional with 2,308 applications and an average loan amount of $271,326.
What loan purposes does MAGNOLIA BANK serve?
MAGNOLIA BANK serves the following loan purposes: Home Purchase (3,073 applications), Cash-out Refinancing (1,720 applications), Refinancing (374 applications), Other (99 applications), Home Improvement (72 applications). Home Purchase is the most common purpose.
Where is MAGNOLIA BANK located?
MAGNOLIA BANK is headquartered in Elizabethtown, KY. The lender is identified by LEI 549300REENMLD2RN3W58 in HMDA data.
How does MAGNOLIA BANK compare in lending across racial demographics?
MAGNOLIA BANK reports demographic lending data under HMDA requirements. White applicants have an approval rate of 77.7% and denial rate of 6.5%; Black or African American applicants have an approval rate of 65.6% and denial rate of 15.0%; Asian applicants have an approval rate of 63.6% and denial rate of 10.4%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.