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 markets by origination volume include: Evansville, North Vernon, and Vincennes among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Boonville Federal Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. They typically have about average 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% 11/21/24
    30 Year Conventional Refi 7.48% 11/21/24
    30 Year Cash-out Refi 7.30% 11/21/24
    15 Year Conventional Refi 6.49% 11/21/24
    15 Year Cash-out Refi 6.49% 11/21/24
    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

    49

    Origination Dollar Volume (All Markets)

    $4,825,000

    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) 43 $4,255,000 $98,953 $0 5.56%
    North Vernon, IN (FHA|USDA|VA) 2 $290,000 $145,000 $0 5.93%
    Outside of Metro Areas 3 $245,000 $81,667 $0 5.06%
    Vincennes, IN (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.50%
    Boonville Federal Savings Bank's top markets include Evansville, North Vernon, and Vincennes 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.

    EVANSVILLE
    Similarity Rank: 32
    Heritage Federal Credit Union
    Similarity Rank: 72
    Independence Bank of Kentucky
    Similarity Rank: 644
    German American Bank
    Similarity Rank: 1064
    GVC MORTGAGE, INC.
    Similarity Rank: 1470
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 1586
    FAIR WAY LENDING LLC
    Similarity Rank: 3192
    NAVY FEDERAL CREDIT UNION
    Similarity Rank: 4425
    USAA Federal Savings Bank
    Similarity Rank: 4535
    Old National Bank
    Similarity Rank: 4563

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 49 $4,825,000 $98,469 $0 5.54%

    For 2019, Boonville Federal Savings Bank's most frequently originated type of loan was Conventional, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 25 $2,835,000 $113,400 $0 5.75%
    Cash Out Refi 19 $1,685,000 $88,684 $0 5.23%
    Other 3 $135,000 $45,000 $0 6.18%
    Refi 2 $170,000 $85,000 $0 5.06%

    For 2019, Boonville Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 25 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 20 $2,760,000 $138,000 $0 5.15%
    20 Year 8 $690,000 $86,250 $0 6.09%
    10 Year 7 $395,000 $56,429 $0 5.41%
    15 Year 5 $215,000 $43,000 $0 5.99%
    Other 5 $405,000 $81,000 $0 5.97%
    1 Year 2 $300,000 $150,000 $0 6.23%
    5 Year 2 $60,000 $30,000 $0 4.90%

    For 2019, Boonville Federal Savings Bank's most frequently cited loan duration was 30 Year, with 20 originations. The 2nd most popular length was 20 Year, with 8 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 18 $1,430,000 $79,444
    $1k-2k 8 $690,000 $86,250
    $2k-3k 4 $760,000 $190,000
    $3k-4k 2 $550,000 $275,000
    $5k+ 1 $105,000 $105,000

    Boonville Federal Savings Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 20 $2,140,000 $107,000
    5-6% 18 $1,880,000 $104,444
    6-7% 6 $460,000 $76,667
    7-8% 5 $345,000 $69,000

    During 2019, Boonville Federal Savings Bank's average interest rate for loans was 5.15%, while their most frequently originated rate bucket for loans was 4-5%, with 20 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 33 $1,805,000 $54,697 $0 5.62%
    $100k-200k 10 $1,340,000 $134,000 $0 5.45%
    $200k-400k 5 $1,195,000 $239,000 $0 5.38%
    $400k-600k 1 $485,000 $485,000 $0 5.00%

    2019 saw Boonville Federal Savings Bank place emphasis on $100,000 or less loans with 33 originations, totaling $1,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 19 $1,275,000 $67,105 $0 5.15%
    $50k-75k 12 $1,440,000 $120,000 $0 5.20%
    $100k-150k 4 $900,000 $225,000 $0 6.16%
    $75k-100k 4 $430,000 $107,500 $0 5.49%
    $250k+ 3 $335,000 $111,667 $0 6.57%
    $150k-250k 1 $35,000 $35,000 $0 5.49%

    Boonville Federal Savings Bank lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $50k-75k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 7 $745,000 $106,429 $0 5.22%
    20-30% 7 $425,000 $60,714 $0 5.50%
    <20% 6 $570,000 $95,000 $0 4.94%
    30-36% 5 $685,000 $137,000 $0 5.16%
    42% 2 $220,000 $110,000 $0 5.00%
    40% 2 $300,000 $150,000 $0 4.69%
    50-60% 2 $130,000 $65,000 $0 5.19%
    48% 1 $485,000 $485,000 $0 5.00%
    43% 1 $75,000 $75,000 $0 4.43%
    41% 1 $105,000 $105,000 $0 5.00%
    39% 1 $75,000 $75,000 $0 6.95%
    44% 1 $25,000 $25,000 $0 4.30%

    Boonville Federal Savings Bank lent most frequently to those with DTI ratios of >60%, with 7 originations. The next most common DTI ratio? 20-30%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $4,190,000 $99,762 $0 5.39%
    Not applicable 6 $410,000 $68,333 $0 6.63%
    Asian 1 $225,000 $225,000 $0 5.50%

    Approval Rates

    Total approvals of all applications
    94.44%

    Boonville Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.92%

    Boonville Federal Savings Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 49 $4,825,000 $98,469

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 7 $415,000 $59,286
    Single Family (1-4 Units):Site-Built 42 $4,410,000 $105,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $240,000 $40,000 $0 5.25%
    40-60% 4 $260,000 $65,000 $0 5.34%
    60-80% 16 $1,450,000 $90,625 $0 5.69%
    80-100% 20 $2,710,000 $135,500 $0 5.58%
    Over 100% 1 $105,000 $105,000 $0 5.38%
    Under 20% 2 $60,000 $30,000 $0 5.45%

    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 $35,919

    For 2019, Boonville Federal Savings Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,300
    Net interest income $1,536
    Total noninterest income $207
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $94
    Trading account gains and fees $0
    Additional Noninterest Income $113
    Pre-tax net operating income $111
    Securities gains (or losses, -) $1
    Income before extraordinary items $89
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $89
    Minority interest net income $0
    Net income $89
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $88

    Boonville Federal Savings Bank's gross interest income from loans was $2,300,000.
    Boonville Federal Savings Bank's net interest income from loans was $1,536,000.
    Boonville Federal Savings Bank's fee based income from loans was $94,000.
    Boonville Federal Savings Bank's net income from loans was $89,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $764
    Provision for credit losses $93
    Total noninterest expense $1,539
    Salaries and employee benefits $809
    Premises and equipment expense $108
    Additional noninterest expense $622
    Applicable income taxes $23
    Net charge-offs $48
    Cash dividends $0

    Boonville Federal Savings Bank's interest expense for loans was $764,000.
    Boonville Federal Savings Bank's payroll and benefits expense were $809,000.
    Boonville Federal Savings Bank's property, plant and equipment expenses $108,000.

    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $36,708
    Deposits held in domestic offices $36,708
    Deposits by Individuals, partnerships, and corporations $34,970
    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. $1,738
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $9,281
    Demand deposits $9,281
    Nontransaction accounts $27,427
    Money market deposit accounts (MMDAs) $2,765
    Other savings deposits (excluding MMDAs) $5,094
    Total time deposits $19,568
    Total time and savings deposits $27,427
    Noninterest-bearing deposits $4,693
    Interest-bearing deposits $32,015
    Retail deposits $31,995
    IRAs and Keogh plan accounts $1,692
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $54,703
    Cash & Balances due from depository institutions $10,493
    Interest-bearing balances $9,771
    Total securities $5,788
    Federal funds sold & reverse repurchase $0
    Net loans and leases $35,884
    Loan and leases loss allowance $166
    Trading account assets $0
    Bank premises and fixed assets $393
    Other real estate owned $39
    Goodwill and other intangibles $0
    All other assets $2,106

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $54,703
    Total Liabilities $49,765
    Total deposits $36,708
    Interest-bearing deposits $32,015
    Deposits held in domestic offices $36,708
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $12,623
    Subordinated debt $0
    All other liabilities $434

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $35,884
    Loan and leases loss allowance $166
    Total loans and leases (domestic) $36,050
    All real estate loans $26,976
    Real estate loans in domestic offices $26,976
    Construction and development loans $499
    Residential 1-4 family construction $241
    Other construction, all land development and other land $258
    Loans secured by nonfarm nonresidential properties $1,879
    Nonfarm nonresidential secured by owner-occupied properties $1,814
    Commercial real estate & other non-farm, non-residential $65
    Multifamily residential real estate $268
    1-4 family residential loans $24,287
    Farmland loans $43
    Loans held in foreign offices $0
    Farm loans $188
    Commercial and industrial loans $3,736
    To non-U.S. addressees $0
    Loans to individuals $4,890
    Credit card loans $0
    Related Plans $163
    Consumer Auto Loans $3,336
    Other loans to individuals $1,391
    All other loans & leases $260
    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 $20
    Non 1-4 family restructured loans & leases $20
    Total loans and leases (foreign) $0

    BOONVILLE FEDERAL SAVINGS BANK had $35,884,000 of loans outstanding in 2019. $26,976,000 of loans were in real estate loans. $499,000 of loans were in development loans. $268,000 of loans were in multifamily mortgage loans. $24,287,000 of loans were in 1-4 family mortgage loans. $188,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,336,000 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 $1,484 $148,400
    Nonfarm, nonresidential loans - <$100k 4 $208 $52,000
    Nonfarm, nonresidential loans - $100-250k 4 $593 $148,250
    Nonfarm, nonresidential loans - $250k-1MM 2 $683 $341,500
    Commercial & Industrial, US addressed loans - <$1MM 45 $3,736 $83,022
    Commercial & Industrial, US addressed loans - <$100k 34 $1,721 $50,618
    Commercial & Industrial, US addressed loans - $100-250k 7 $1,267 $181,000
    Commercial & Industrial, US addressed loans - $250k-1MM 4 $748 $187,000
    Farmland loans - <$1MM 2 $43 $21,500
    Farmland loans - $100-250k 2 $43 $21,500
    Agriculture operations loans - <$1MM 2 $188 $94,000
    Agriculture operations loans - $100-250k 2 $188 $94,000