Home Federal Bank Corporation Mortgage Rates, Fees & Info

Middlesboro, KY

LEI: 2549001XVX1R2ITF6935

Tax ID: 61-0305840

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Morristown, Cape Coral, and London among others. We have data for 13 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    222

    Origination Dollar Volume (All Markets)

    $44,590,000

    Employee count

    93

    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
    Outside of Metro Areas 107 $19,625,000 $183,411 $0 0.00%
    KNOXVILLE, TN (FHA|USDA|VA) 58 $15,980,000 $275,517 $0 0.00%
    Middlesborough, KY (FHA|USDA|VA) 40 $4,870,000 $121,750 $0 0.00%
    MORRISTOWN, TN (FHA|USDA|VA) 4 $1,430,000 $357,500 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
    London, KY (FHA|USDA|VA) 3 $465,000 $155,000 $0 0.00%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $400,000 $200,000 $0 0.00%
    Richmond-Berea, KY (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
    AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Home Federal Bank Corporation's top markets include Knoxville, Middlesborough, Morristown, Cape Coral, and London among others.

    Their top states include:
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 222 $44,590,000 $200,856 $0 0.00%

    For 2021, Home Federal Bank Corporation's most frequently originated type of loan was Conventional, with 222 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 136 $29,700,000 $218,382 $0 0.00%
    Refi 65 $12,205,000 $187,769 $0 0.00%
    Other 16 $2,170,000 $135,625 $0 0.00%
    Home Improvement 5 $515,000 $103,000 $0 0.00%

    For 2021, Home Federal Bank Corporation's most frequently cited loan purpose was Home Purchase, with 136 originations. The 2nd most popular reason was Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 222 $44,590,000 $200,856 $0 0.00%

    For 2021, Home Federal Bank Corporation's most frequently cited loan duration was Other, with 222 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 77 $10,885,000 $141,364 $0 0.00%
    $100,000 or less 75 $4,355,000 $58,067 $0 0.00%
    $200k-400k 43 $11,795,000 $274,302 $0 0.00%
    $400k-600k 15 $7,075,000 $471,667 $0 0.00%
    $600k-1MM 9 $6,965,000 $773,889 $0 0.00%
    $1MM+ 3 $3,515,000 $1,171,667 $0 0.00%

    2021 saw Home Federal Bank Corporation place emphasis on $100k-200k loans with 77 originations, totaling $10,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 44 $3,140,000 $71,364 $0 0.00%
    $100k-150k 40 $7,740,000 $193,500 $0 0.00%
    $50k-75k 40 $4,780,000 $119,500 $0 0.00%
    $150k-250k 34 $11,360,000 $334,118 $0 0.00%
    $250k+ 25 $10,015,000 $400,600 $0 0.00%
    $75k-100k 15 $2,315,000 $154,333 $0 0.00%

    Home Federal Bank Corporation lent most frequently to those with incomes in the $50k or less range, with 44 originations. The second most popular income band? $100k-150k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 222 $44,590,000 $200,856 $0 0.00%

    Home Federal Bank Corporation lent most frequently to those with DTI ratios of Exempt%, with 222 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 200 $39,970,000 $199,850 $0 0.00%
    Not applicable 14 $3,450,000 $246,429 $0 0.00%
    Not provided 6 $640,000 $106,667 $0 0.00%
    Asian Indian 1 $455,000 $455,000 $0 0.00%
    Black 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.13%

    Home Federal Bank Corporation has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.47%

    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 222 $44,590,000 $200,856

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    222 $44,590,000 $200,856

    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 $32,882
    Home Federal Bank Corporation 111 Washington Avenue Harrogate, TN 37752 Full Service B&M $25,786
    Home Federal Bank Corporation 1602-08 East Cumberland Avenue Middlesboro, KY 40965 Full Service B&M $104,445
    Home Federal Bank Corporation 185 Finance Street Harlan, KY 40831 Full Service B&M $109,169
    Home Federal Bank Corporation 300 Main Street Jacksboro, TN 37757 Full Service B&M $34,921
    Home Federal Bank Corporation 500 Fifth Avenue New Tazewell, TN 37825 Full Service B&M $67,496

    For 2021, Home Federal Bank Corporation had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,781
    Net interest income $15,590
    Total noninterest income $3,566
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,201
    Trading account gains and fees $0
    Additional Noninterest Income $2,365
    Pre-tax net operating income $4,583
    Securities gains (or losses, -) $23
    Income before extraordinary items $3,679
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,679
    Minority interest net income $0
    Net income $3,679
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,660

    Home Federal Bank Corporation's gross interest income from loans was $16,781,000.
    Home Federal Bank Corporation's net interest income from loans was $15,590,000.
    Home Federal Bank Corporation's fee based income from loans was $1,201,000.
    Home Federal Bank Corporation's net income from loans was $3,679,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,191
    Provision for credit losses $419
    Total noninterest expense $14,154
    Salaries and employee benefits $7,223
    Premises and equipment expense $1,260
    Additional noninterest expense $5,671
    Applicable income taxes $927
    Net charge-offs $58
    Cash dividends $1,200

    Home Federal Bank Corporation's interest expense for loans was $1,191,000.
    Home Federal Bank Corporation's payroll and benefits expense were $7,223,000.
    Home Federal Bank Corporation's property, plant and equipment expenses $1,260,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    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 $388,961
    Deposits held in domestic offices $388,961
    Deposits by Individuals, partnerships, and corporations $360,844
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $28,115
    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 $148,766
    Demand deposits $90,370
    Nontransaction accounts $240,196
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $148,421
    Total time deposits $91,775
    Total time and savings deposits $298,592
    Noninterest-bearing deposits $88,865
    Interest-bearing deposits $300,096
    Retail deposits $368,673
    IRAs and Keogh plan accounts $29,858
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $463,379
    Cash & Balances due from depository institutions $36,426
    Interest-bearing balances $30,372
    Total securities $99,235
    Federal funds sold & reverse repurchase $0
    Net loans and leases $304,021
    Loan and leases loss allowance $4,210
    Trading account assets $271
    Bank premises and fixed assets $8,364
    Other real estate owned $59
    Goodwill and other intangibles $0
    All other assets $15,003

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $463,379
    Total Liabilities $413,002
    Total deposits $388,961
    Interest-bearing deposits $300,096
    Deposits held in domestic offices $388,961
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $20,438
    Subordinated debt $0
    All other liabilities $3,603

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $304,021
    Loan and leases loss allowance $4,210
    Total loans and leases (domestic) $308,231
    All real estate loans $269,787
    Real estate loans in domestic offices $269,787
    Construction and development loans $28,712
    Residential 1-4 family construction $13,707
    Other construction, all land development and other land $15,005
    Loans secured by nonfarm nonresidential properties $66,255
    Nonfarm nonresidential secured by owner-occupied properties $38,158
    Commercial real estate & other non-farm, non-residential $28,097
    Multifamily residential real estate $6,442
    1-4 family residential loans $168,003
    Farmland loans $375
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $24,163
    To non-U.S. addressees $0
    Loans to individuals $9,299
    Credit card loans $0
    Related Plans $1
    Consumer Auto Loans $2,384
    Other loans to individuals $6,914
    All other loans & leases $4,992
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Home Federal Bank Corporation had $304,021,000 of loans outstanding in 2021. $269,787,000 of loans were in real estate loans. $28,712,000 of loans were in development loans. $6,442,000 of loans were in multifamily mortgage loans. $168,003,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,384,000 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 161 $33,639 $208,938
    Nonfarm, nonresidential loans - <$100k 41 $1,182 $28,829
    Nonfarm, nonresidential loans - $100-250k 57 $7,520 $131,930
    Nonfarm, nonresidential loans - $250k-1MM 63 $24,937 $395,825
    Commercial & Industrial, US addressed loans - <$1MM 221 $17,397 $78,719
    Commercial & Industrial, US addressed loans - <$100k 143 $3,837 $26,832
    Commercial & Industrial, US addressed loans - $100-250k 61 $8,196 $134,361
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $5,364 $315,529
    Farmland loans - <$1MM 2 $375 $187,500
    Farmland loans - $100-250k 1 $110 $110,000
    Farmland loans - $250k-1MM 1 $265 $265,000