Boonville Federal Savings Bank Mortgage Rates, Fees & Info

BOONVILLE, IN

LEI: 2549002F2MBMPG0YSQ20

Tax ID: 35-0188195

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Boonville Federal Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Boonville Federal Savings Bank has a high proportion of conventional loans. Their top two markets are Evansville and North Vernon .

    Boonville Federal Savings Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Boonville Federal Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.27% 9/22/24
    30 Year Conventional Refi 7.48% 9/22/24
    30 Year Cash-out Refi 7.30% 9/22/24
    15 Year Conventional Refi 6.49% 9/22/24
    15 Year Cash-out Refi 6.49% 9/22/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Boonville Federal Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Boonville Federal Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    62

    Origination Dollar Volume (All Markets)

    $6,150,000

    Employee count

    13

    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
    EVANSVILLE, IN-KY (FHA|USDA|VA) 54 $5,500,000 $101,852 $853 5.58%
    Outside of Metro Areas 7 $575,000 $82,143 $1,077 5.42%
    North Vernon, IN (FHA|USDA|VA) 1 $75,000 $75,000 $0 6.95%
    Boonville Federal Savings Bank's top markets include Evansville and North Vernon among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against BOONVILLE FEDERAL SAVINGS BANK based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Heritage Federal Credit Union
    Similarity Rank: 96
    EVANSVILLE
    Similarity Rank: 120
    First Federal Savings Bank
    Similarity Rank: 160
    FAIR WAY LENDING LLC
    Similarity Rank: 800
    Independence Bank of Kentucky
    Similarity Rank: 1170
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 1216
    German American Bank
    Similarity Rank: 1290
    GVC MORTGAGE, INC.
    Similarity Rank: 1827
    Old National Bank
    Similarity Rank: 2772
    EVANSVILLE TEACHERS
    Similarity Rank: 2886

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 62 $6,150,000 $99,194 $876 5.58%

    For 2018, Boonville Federal Savings Bank's most frequently originated type of loan was Conventional, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $3,025,000 $112,037 $1,552 5.81%
    Cash Out Refi 19 $2,105,000 $110,789 $854 5.44%
    Refi 9 $845,000 $93,889 $807 5.52%
    Home Improvement 6 $160,000 $26,667 $543 5.38%
    Other 1 $15,000 $15,000 $554 3.95%

    For 2018, Boonville Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Cash Out Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 18 $2,860,000 $158,889 $1,252 5.36%
    15 Year 12 $790,000 $65,833 $875 5.54%
    20 Year 12 $820,000 $68,333 $687 6.09%
    10 Year 8 $440,000 $55,000 $332 5.78%
    Other 7 $725,000 $103,571 $974 5.74%
    5 Year 4 $310,000 $77,500 $608 4.08%
    1 Year 1 $205,000 $205,000 $0 7.25%

    For 2018, Boonville Federal Savings Bank's most frequently cited loan duration was 30 Year, with 18 originations. The 2nd most popular length was 15 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 21 $1,655,000 $78,810
    $1k-2k 15 $1,205,000 $80,333
    $2k-3k 7 $1,325,000 $189,286
    $3k-4k 2 $650,000 $325,000

    Boonville Federal Savings Bank's average total fees were $1,252, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 27 $3,125,000 $115,741
    4-5% 17 $1,595,000 $93,824
    6-7% 11 $615,000 $55,909
    7-8% 4 $480,000 $120,000
    3-4% 3 $335,000 $111,667

    During 2018, Boonville Federal Savings Bank's average interest rate for loans was 5.36%, while their most frequently originated rate bucket for loans was 5-6%, with 27 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 41 $2,025,000 $49,390 $738 5.69%
    $100k-200k 14 $2,090,000 $149,286 $1,033 5.25%
    $200k-400k 6 $1,620,000 $270,000 $1,671 5.54%
    $400k-600k 1 $415,000 $415,000 $0 5.75%

    2018 saw Boonville Federal Savings Bank place emphasis on $100,000 or less loans with 41 originations, totaling $2,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 20 $1,080,000 $54,000 $920 5.62%
    $75k-100k 16 $2,410,000 $150,625 $1,131 5.32%
    $50k-75k 12 $980,000 $81,667 $991 5.79%
    $150k-250k 6 $1,060,000 $176,667 $514 4.95%
    $100k-150k 2 $140,000 $70,000 $0 4.69%
    $250k+ 1 $45,000 $45,000 $337 4.50%

    Boonville Federal Savings Bank lent most frequently to those with incomes in the $50k or less range, with 20 originations. The second most popular income band? $75k-100k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 11 $965,000 $87,727 $731 4.77%
    20-30% 9 $975,000 $108,333 $1,080 4.82%
    30-36% 7 $525,000 $75,000 $904 5.16%
    41% 3 $205,000 $68,333 $921 5.48%
    43% 3 $515,000 $171,667 $1,576 6.16%
    46% 2 $500,000 $250,000 $1,002 5.00%
    49% 2 $170,000 $85,000 $387 5.66%
    50-60% 1 $55,000 $55,000 $0 5.75%
    38% 1 $75,000 $75,000 $987 5.95%

    Boonville Federal Savings Bank lent most frequently to those with DTI ratios of <20%, with 11 originations. The next most common DTI ratio? 20-30%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 53 $5,155,000 $97,264 $866 5.52%
    Black 3 $435,000 $145,000 $1,071 4.67%
    Not applicable 5 $435,000 $87,000 $0 7.12%
    Asian 1 $125,000 $125,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    86.84%

    Boonville Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.55%

    Boonville Federal Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    662.54 1 $65,000 $65,000
    NA 61 $6,085,000 $99,754

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $470,000 $58,750
    Single Family (1-4 Units):Site-Built 54 $5,680,000 $105,185

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $715,000 $65,000 $579 5.26%
    40-60% 10 $950,000 $95,000 $909 5.70%
    60-80% 11 $1,545,000 $140,455 $1,762 5.90%
    80-100% 22 $2,730,000 $124,091 $1,230 5.66%
    Over 100% 1 $45,000 $45,000 $0 6.95%
    Under 20% 7 $165,000 $23,571 $530 4.96%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Boonville Federal Savings Bank 123 N Third Street Boonville, IN 47601 Full Service B&M $34,104

    For 2018, Boonville Federal Savings Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $1,941
    Net interest income $1,378
    Total noninterest income $147
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $25
    Trading account gains and fees $0
    Additional Noninterest Income $122
    Pre-tax net operating income $67
    Securities gains (or losses, -) $21
    Income before extraordinary items $73
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $73
    Minority interest net income $0
    Net income $73
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $55

    Boonville Federal Savings Bank's gross interest income from loans was $1,941,000.
    Boonville Federal Savings Bank's net interest income from loans was $1,378,000.
    Boonville Federal Savings Bank's fee based income from loans was $25,000.
    Boonville Federal Savings Bank's net income from loans was $73,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $563
    Provision for credit losses $-50
    Total noninterest expense $1,508
    Salaries and employee benefits $800
    Premises and equipment expense $178
    Additional noninterest expense $530
    Applicable income taxes $15
    Net charge-offs $37
    Cash dividends $0

    Boonville Federal Savings Bank's interest expense for loans was $563,000.
    Boonville Federal Savings Bank's payroll and benefits expense were $800,000.
    Boonville Federal Savings Bank's property, plant and equipment expenses $178,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    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 $34,976
    Deposits held in domestic offices $34,976
    Deposits by Individuals, partnerships, and corporations $34,976
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    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 $13,004
    Demand deposits $0
    Nontransaction accounts $21,972
    Money market deposit accounts (MMDAs) $1,201
    Other savings deposits (excluding MMDAs) $1,164
    Total time deposits $19,607
    Total time and savings deposits $34,976
    Noninterest-bearing deposits $4,385
    Interest-bearing deposits $30,591
    Retail deposits $34,976
    IRAs and Keogh plan accounts $1,336
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $50,823
    Cash & Balances due from depository institutions $8,952
    Interest-bearing balances $8,246
    Total securities $5,526
    Federal funds sold & reverse repurchase $0
    Net loans and leases $33,681
    Loan and leases loss allowance $121
    Trading account assets $0
    Bank premises and fixed assets $391
    Other real estate owned $171
    Goodwill and other intangibles $0
    All other assets $2,102

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $50,824
    Total Liabilities $45,975
    Total deposits $34,976
    Interest-bearing deposits $30,591
    Deposits held in domestic offices $34,976
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $10,589
    Subordinated debt $0
    All other liabilities $410

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $33,681
    Loan and leases loss allowance $121
    Total loans and leases (domestic) $33,802
    All real estate loans $26,231
    Real estate loans in domestic offices $26,231
    Construction and development loans $0
    Residential 1-4 family construction $0
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $1,397
    Nonfarm nonresidential secured by owner-occupied properties $1,194
    Commercial real estate & other non-farm, non-residential $203
    Multifamily residential real estate $204
    1-4 family residential loans $24,356
    Farmland loans $274
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,976
    To non-U.S. addressees $0
    Loans to individuals $4,595
    Credit card loans $0
    Related Plans $124
    Consumer Auto Loans $3,158
    Other loans to individuals $1,313
    All other loans & leases $0
    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 $35
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    BOONVILLE FEDERAL SAVINGS BANK had $33,681,000 of loans outstanding in 2018. $26,231,000 of loans were in real estate loans. $0 of loans were in development loans. $204,000 of loans were in multifamily mortgage loans. $24,356,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,158,000 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 10 $1,397 $139,700
    Nonfarm, nonresidential loans - <$100k 5 $271 $54,200
    Nonfarm, nonresidential loans - $100-250k 3 $467 $155,667
    Nonfarm, nonresidential loans - $250k-1MM 2 $659 $329,500
    Commercial & Industrial, US addressed loans - <$1MM 39 $2,586 $66,308
    Commercial & Industrial, US addressed loans - <$100k 35 $1,931 $55,171
    Commercial & Industrial, US addressed loans - $100-250k 4 $655 $163,750
    Farmland loans - <$1MM 4 $274 $68,500
    Farmland loans - <$100k 2 $41 $20,500
    Farmland loans - $250k-1MM 2 $233 $116,500