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SOUTH CENTRAL BANK INC

Glasgow, KY

SOUTH CENTRAL BANK INC processed 1,675 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,300 loans with a 7.7% denial rate. Home Purchase was the primary loan purpose. Based in Glasgow, KY. The approval rate of 77.6% 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. SOUTH CENTRAL BANK INC processed 1,675 HMDA-reported mortgage applications in 2024, originating 1,300 loans and denying 129 for a denial rate of 7.7% (applicants themselves withdrew 244 files before a decision). The average loan amount was $194,499 at a 7.733% average note rate, and applicants self-reported an average income of $34,000. The lender reports under LEI 549300LPT41QBMAC7948 from Glasgow, 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. SOUTH CENTRAL BANK INC's 77.6% origination rate tells you how often an application turned into funded money; the 7.7% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Credit history, Debt-to-income ratio, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,417 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.

1,675
Applications
1,300
Originated
7.7%
Denial Rate
$194,499
Avg Loan Amount
Avg Interest Rate: 7.733% Avg Applicant Income: $34,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,417 1,127 104 $186,538
FHA 168 109 20 $210,536
VA 62 44 1 $342,903
USDA 28 20 4 $172,500

Top loan types — SOUTH CENTRAL BANK INC

Top loan types — SOUTH CENTRAL BANK INC Horizontal bar chart of the top 4 items by value (applications). Top loan types — SOUTH CENTRAL BANK INC Top 4 1. Conventional 1,417 2. FHA 168 3. VA 62 4. USDA 28 Top 5 loan types by application volume at SOUTH CENTRAL BANK INC (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 SOUTH CENTRAL BANK INC (LEI: 549300LPT41QBMAC7948) · 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

Credit history
73
Debt-to-income ratio
51
Other
25
Collateral
14
Credit application incomplete
7
Employment history
5
Unverifiable information
5
Insufficient cash
5

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 729 545 $266,660
Refinancing 384 318 $188,229
Other 251 207 $90,339
Home Improvement 206 174 $83,204
Cash-out Refinancing 105 56 $183,762

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 1,407 78.1% 7.6%
Black or African American 31 67.7% 6.5%
Asian 26 69.2% 3.9%
Joint 15 93.3% 6.7%

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 1,432 77.9% 7.4%
Hispanic or Latino 41 85.4% 4.9%
Joint 11 45.5% 18.2%

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

MAGNOLIA BANK

Elizabethtown, KY

5,338 apps 4,002 originated 7.8% denied

REPUBLIC BANK & TRUST

LOUISVILLE, KY

3,866 apps 2,192 originated 13.1% denied
Compare SOUTH CENTRAL BANK INC 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 SOUTH CENTRAL BANK INC process?
SOUTH CENTRAL BANK INC processed 1,675 mortgage applications in the 2023 HMDA reporting year. Of these, 1,300 were originated (approved and funded), 244 were withdrawn by the applicant, and 129 were denied.
What is SOUTH CENTRAL BANK INC's mortgage approval rate?
SOUTH CENTRAL BANK INC has an approval (origination) rate of 77.6%, meaning 77.6% of all applications resulted in a funded mortgage. The denial rate is 7.7%.
What is the average loan amount at SOUTH CENTRAL BANK INC?
The average mortgage loan amount at SOUTH CENTRAL BANK INC is $194,499. The average interest rate is 7.733%. The average applicant income is $34,000.
What are the most common reasons for mortgage denial at SOUTH CENTRAL BANK INC?
The most common reasons for mortgage denial at SOUTH CENTRAL BANK INC are: Credit history, Debt-to-income ratio, Other. In total, 129 applications were denied out of 1,675 total applications.
What types of mortgage loans does SOUTH CENTRAL BANK INC offer?
SOUTH CENTRAL BANK INC processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 1,417 applications and an average loan amount of $186,538.
What loan purposes does SOUTH CENTRAL BANK INC serve?
SOUTH CENTRAL BANK INC serves the following loan purposes: Home Purchase (729 applications), Refinancing (384 applications), Other (251 applications), Home Improvement (206 applications), Cash-out Refinancing (105 applications). Home Purchase is the most common purpose.
Where is SOUTH CENTRAL BANK INC located?
SOUTH CENTRAL BANK INC is headquartered in Glasgow, KY. The lender is identified by LEI 549300LPT41QBMAC7948 in HMDA data.
How does SOUTH CENTRAL BANK INC compare in lending across racial demographics?
SOUTH CENTRAL BANK INC reports demographic lending data under HMDA requirements. White applicants have an approval rate of 78.1% and denial rate of 7.6%; Black or African American applicants have an approval rate of 67.7% and denial rate of 6.5%; Asian applicants have an approval rate of 69.2% and denial rate of 3.9%. 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.