Home Federal Bank Corporation Mortgage Rates, Fees & Info

Middlesboro, KY

LEI: 2549001XVX1R2ITF6935

Tax ID: 61-0305840

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Home Federal Bank Corporation is a smaller bank specializing in Home Purchase and Refi loans. Home Federal Bank Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Knoxville, Middlesborough, Sevierville, Morristown, and Cincinnati among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

Home Federal Bank Corporation has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

200

Origination Dollar Volume (All Markets)

$36,590,000

Employee count

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market	Originations	Total Value	Average Loan	Average Fees	Average Rate
KNOXVILLE, TN (FHA\|USDA\|VA)	64	$15,380,000	$240,313	$0	0.00%
Outside of Metro Areas	84	$9,810,000	$116,786	$0	0.00%
Middlesborough, KY (FHA\|USDA\|VA)	30	$4,120,000	$137,333	$0	0.00%
Sevierville, TN (FHA\|USDA\|VA)	4	$1,910,000	$477,500	$0	0.00%
MORRISTOWN, TN (FHA\|USDA\|VA)	5	$1,665,000	$333,000	$0	0.00%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	1	$725,000	$725,000	$0	0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$645,000	$645,000	$0	0.00%
London, KY (FHA\|USDA\|VA)	3	$485,000	$161,667	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$415,000	$415,000	$0	0.00%
Newport, TN (FHA\|USDA\|VA)	1	$375,000	$375,000	$0	0.00%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	2	$370,000	$185,000	$0	0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	1	$205,000	$205,000	$0	0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	0.00%
Richmond-Berea, KY (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	0.00%
CLARKSVILLE, TN-KY (FHA\|USDA\|VA)	1	$135,000	$135,000	$0	0.00%

Home Federal Bank Corporation's top markets include Knoxville, Middlesborough, Sevierville, Morristown, and Cincinnati among others.

Their top states include:

Tennessee (FHA|USDA|VA)

Kentucky (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Ohio (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	200	$36,590,000	$182,950	$0	0.00%

For 2019, Home Federal Bank Corporation's most frequently originated type of loan was Conventional, with 200 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	119	$25,705,000	$216,008	$0	0.00%
Refi	62	$8,860,000	$142,903	$0	0.00%
Other	13	$1,755,000	$135,000	$0	0.00%
Home Improvement	6	$270,000	$45,000	$0	0.00%

For 2019, Home Federal Bank Corporation's most frequently cited loan purpose was Home Purchase, with 119 originations. The 2nd most popular reason was Refi, with 62 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	200	$36,590,000	$182,950	$0	0.00%

For 2019, Home Federal Bank Corporation's most frequently cited loan duration was Other, with 200 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	85	$4,665,000	$54,882	$0	0.00%
$100k-200k	59	$8,565,000	$145,169	$0	0.00%
$200k-400k	32	$8,620,000	$269,375	$0	0.00%
$400k-600k	14	$6,630,000	$473,571	$0	0.00%
$600k-1MM	7	$4,965,000	$709,286	$0	0.00%
$1MM+	3	$3,145,000	$1,048,333	$0	0.00%

2019 saw Home Federal Bank Corporation place emphasis on $100,000 or less loans with 85 originations, totaling $4,665,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	41	$2,975,000	$72,561	$0	0.00%
$50k-75k	40	$4,100,000	$102,500	$0	0.00%
$75k-100k	28	$4,840,000	$172,857	$0	0.00%
$100k-150k	27	$4,885,000	$180,926	$0	0.00%
$250k+	24	$11,200,000	$466,667	$0	0.00%
$150k-250k	22	$5,090,000	$231,364	$0	0.00%

Home Federal Bank Corporation lent most frequently to those with incomes in the $50k or less range, with 41 originations. The second most popular income band? $50k-75k, with 40 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	200	$36,590,000	$182,950	$0	0.00%

Home Federal Bank Corporation lent most frequently to those with DTI ratios of Exempt%, with 200 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	183	$33,055,000	$180,628	$0	0.00%
Not applicable	15	$3,115,000	$207,667	$0	0.00%
Black	1	$295,000	$295,000	$0	0.00%
Other Asian	1	$125,000	$125,000	$0	0.00%

Approval Rates

Total approvals of all applications
81.38%

Home Federal Bank Corporation has a below average approval rate.

Pick Rate

Approvals leading to origination
67.00%

Home Federal Bank Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	200	$36,590,000	$182,950

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	6	$2,020,000	$336,667
Single Family (1-4 Units):Manufactured	18	$1,050,000	$58,333
Single Family (1-4 Units):Site-Built	176	$33,520,000	$190,455

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Home Federal Bank Corporation	102 Cumberland Avenue Harlan, KY 40831	Full Service B&M	$28,809
Home Federal Bank Corporation	111 Washington Avenue Harrogate, TN 37752	Full Service B&M	$18,867
Home Federal Bank Corporation	1602-08 East Cumberland Avenue Middlesboro, KY 40965	Full Service B&M	$87,244
Home Federal Bank Corporation	185 Finance Street Harlan, KY 40831	Full Service B&M	$97,914
Home Federal Bank Corporation	300 Main Street Jacksboro, TN 37757	Full Service B&M	$22,315
Home Federal Bank Corporation	500 Fifth Avenue New Tazewell, TN 37825	Full Service B&M	$53,428

For 2019, Home Federal Bank Corporation had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,654
Net interest income	$13,051
Total noninterest income	$3,256
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,399
Trading account gains and fees	$0
Additional Noninterest Income	$1,857
Pre-tax net operating income	$3,536
Securities gains (or losses, -)	$20
Income before extraordinary items	$2,944
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,944
Minority interest net income	$0
Net income	$2,944
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,927

Home Federal Bank Corporation's gross interest income from loans was $16,654,000.
Home Federal Bank Corporation's net interest income from loans was $13,051,000.
Home Federal Bank Corporation's fee based income from loans was $1,399,000.
Home Federal Bank Corporation's net income from loans was $2,944,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,603
Provision for credit losses	$390
Total noninterest expense	$12,381
Salaries and employee benefits	$6,658
Premises and equipment expense	$1,253
Additional noninterest expense	$4,470
Applicable income taxes	$612
Net charge-offs	$64
Cash dividends	$1,075

Home Federal Bank Corporation's interest expense for loans was $3,603,000.
Home Federal Bank Corporation's payroll and benefits expense were $6,658,000.
Home Federal Bank Corporation's property, plant and equipment expenses $1,253,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$314,029
Deposits held in domestic offices	$314,029
Deposits by Individuals, partnerships, and corporations	$290,145
Deposits by U.S. Government	$7
Deposits by States and political subdivisions in the U.S.	$23,877
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$90,028
Demand deposits	$47,732
Nontransaction accounts	$224,001
Money market deposit accounts (MMDAs)	$0
Other savings deposits (excluding MMDAs)	$96,339
Total time deposits	$127,662
Total time and savings deposits	$266,297
Noninterest-bearing deposits	$47,732
Interest-bearing deposits	$266,297
Retail deposits	$285,226
IRAs and Keogh plan accounts	$29,994
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$389,907
Cash & Balances due from depository institutions	$10,942
Interest-bearing balances	$6,076
Total securities	$68,155
Federal funds sold & reverse repurchase	$0
Net loans and leases	$287,035
Loan and leases loss allowance	$3,579
Trading account assets	$148
Bank premises and fixed assets	$9,161
Other real estate owned	$139
Goodwill and other intangibles	$0
All other assets	$14,327

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$389,907
Total Liabilities	$344,480
Total deposits	$314,029
Interest-bearing deposits	$266,297
Deposits held in domestic offices	$314,029
% insured (estimated)	$88
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$27,179
Subordinated debt	$0
All other liabilities	$3,272

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$287,035
Loan and leases loss allowance	$3,579
Total loans and leases (domestic)	$290,614
All real estate loans	$268,921
Real estate loans in domestic offices	$268,921
Construction and development loans	$26,723
Residential 1-4 family construction	$11,046
Other construction, all land development and other land	$15,677
Loans secured by nonfarm nonresidential properties	$53,725
Nonfarm nonresidential secured by owner-occupied properties	$23,817
Commercial real estate & other non-farm, non-residential	$29,908
Multifamily residential real estate	$4,675
1-4 family residential loans	$183,349
Farmland loans	$449
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$13,529
To non-U.S. addressees	$0
Loans to individuals	$7,485
Credit card loans	$0
Related Plans	$3
Consumer Auto Loans	$1,100
Other loans to individuals	$6,382
All other loans & leases	$880
Loans to foreign governments and official institutions	$0
Other loans	$0
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$1,668
Non 1-4 family restructured loans & leases	$1,668
Total loans and leases (foreign)	$0

Home Federal Bank Corporation had $287,035,000 of loans outstanding in 2019. $268,921,000 of loans were in real estate loans. $26,723,000 of loans were in development loans. $4,675,000 of loans were in multifamily mortgage loans. $183,349,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,100,000 of loans were in the auto loan category.

Small Business Loans

Categorization	# of Loans in Category	$ amount of loans (in 000's)	Average $/loan
Nonfarm, nonresidential loans - <$1MM	146	$29,739	$203,692
Nonfarm, nonresidential loans - <$100k	43	$1,405	$32,674
Nonfarm, nonresidential loans - $100-250k	47	$6,061	$128,957
Nonfarm, nonresidential loans - $250k-1MM	56	$22,273	$397,732
Commercial & Industrial, US addressed loans - <$1MM	152	$10,164	$66,868
Commercial & Industrial, US addressed loans - <$100k	104	$2,450	$23,558
Commercial & Industrial, US addressed loans - $100-250k	31	$3,269	$105,452
Commercial & Industrial, US addressed loans - $250k-1MM	17	$4,445	$261,471
Farmland loans - <$1MM	2	$449	$224,500
Farmland loans - $100-250k	1	$152	$152,000
Farmland loans - $250k-1MM	1	$297	$297,000