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 Vincennes .

    Boonville Federal Savings Bank has an above average approval rate when compared to the average across all lenders. They have a below 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 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

    54

    Origination Dollar Volume (All Markets)

    $7,700,000

    Employee count

    14

    Awards

    BOONVILLE FEDERAL SAVINGS BANK 30 Year Conventional Loans bronze
    Show all (1) awards

    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) 44 $5,700,000 $129,545 $2,767 4.59%
    Outside of Metro Areas 9 $1,745,000 $193,889 $3,232 4.15%
    Vincennes, IN (FHA|USDA|VA) 1 $255,000 $255,000 $1,939 3.50%
    Boonville Federal Savings Bank's top markets include Evansville 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: 28
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 204
    First Federal Savings Bank
    Similarity Rank: 252
    Heritage Federal Credit Union
    Similarity Rank: 280
    United Fidelity Bank, fsb
    Similarity Rank: 340
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 486
    CRANE
    Similarity Rank: 680
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1170
    Independence Bank of Kentucky
    Similarity Rank: 1632
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 1825

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $7,700,000 $142,593 $2,843 4.50%

    For 2021, Boonville Federal Savings Bank's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 29 $4,335,000 $149,483 $3,467 4.62%
    Cash Out Refi 15 $2,245,000 $149,667 $2,330 4.00%
    Refi 7 $885,000 $126,429 $2,446 4.86%
    Home Improvement 3 $235,000 $78,333 $1,611 4.92%

    For 2021, Boonville Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 29 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 24 $3,940,000 $164,167 $2,776 4.05%
    Other 11 $1,405,000 $127,727 $2,692 4.96%
    20 Year 8 $750,000 $93,750 $3,086 5.33%
    15 Year 4 $370,000 $92,500 $1,607 4.28%
    10 Year 3 $305,000 $101,667 $1,368 4.50%
    30+ year 3 $815,000 $271,667 $5,148 3.92%
    5 Year 1 $115,000 $115,000 $0 5.95%

    For 2021, Boonville Federal Savings Bank's most frequently cited loan duration was 30 Year, with 24 originations. The 2nd most popular length was Other, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 17 $2,105,000 $123,824
    $2k-3k 10 $1,860,000 $186,000
    $<1k 7 $1,015,000 $145,000
    $4k-5k 2 $710,000 $355,000
    $3k-4k 1 $265,000 $265,000
    $5k+ 1 $255,000 $255,000

    Boonville Federal Savings Bank's average total fees were $2,776, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 17 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 20 $3,400,000 $170,000
    4-5% 18 $2,850,000 $158,333
    5-6% 10 $940,000 $94,000
    6-7% 4 $230,000 $57,500
    2.5-3% 2 $280,000 $140,000

    During 2021, Boonville Federal Savings Bank's average interest rate for loans was 4.05%, while their most frequently originated rate bucket for loans was 3-4%, with 20 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 23 $3,255,000 $141,522 $2,682 4.30%
    $100,000 or less 20 $1,290,000 $64,500 $2,041 5.02%
    $200k-400k 10 $2,730,000 $273,000 $4,168 3.92%
    $400k-600k 1 $425,000 $425,000 $1,835 4.25%

    2021 saw Boonville Federal Savings Bank place emphasis on $100k-200k loans with 23 originations, totaling $3,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 14 $2,580,000 $184,286 $3,331 4.50%
    $50k or less 8 $1,100,000 $137,500 $2,864 4.29%
    $75k-100k 8 $1,240,000 $155,000 $3,137 4.14%
    $50k-75k 6 $760,000 $126,667 $2,782 4.02%
    $150k-250k 5 $895,000 $179,000 $2,339 3.78%

    Boonville Federal Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 14 originations. The second most popular income band? $50k or less, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $2,190,000 $182,500 $3,409 4.07%
    <20% 10 $990,000 $99,000 $2,253 3.97%
    30-36% 4 $630,000 $157,500 $3,502 3.83%
    >60% 2 $410,000 $205,000 $2,323 3.73%
    40% 2 $300,000 $150,000 $3,180 4.10%
    50-60% 2 $580,000 $290,000 $2,032 4.13%
    42% 1 $105,000 $105,000 $3,033 3.60%
    37% 1 $165,000 $165,000 $3,535 3.50%
    41% 1 $175,000 $175,000 $3,800 4.25%

    Boonville Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? <20%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 44 $6,740,000 $153,182 $2,885 4.23%
    Asian 2 $390,000 $195,000 $1,281 3.75%
    Not applicable 6 $330,000 $55,000 $0 6.17%
    Black 2 $240,000 $120,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    92.86%

    Boonville Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.63%

    Boonville Federal Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 54 $7,700,000 $142,593

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    54 $7,700,000 $142,593

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $225,000 $75,000 $1,898 3.53%
    40-60% 7 $955,000 $136,429 $2,252 4.86%
    60-80% 19 $2,665,000 $140,263 $3,174 4.59%
    80-100% 21 $3,415,000 $162,619 $2,990 4.39%
    Over 100% 1 $145,000 $145,000 $2,514 4.15%
    Under 20% 2 $80,000 $40,000 $797 5.25%

    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 $43,527

    For 2021, Boonville Federal Savings Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,488
    Net interest income $1,876
    Total noninterest income $247
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $111
    Trading account gains and fees $0
    Additional Noninterest Income $136
    Pre-tax net operating income $239
    Securities gains (or losses, -) $0
    Income before extraordinary items $174
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $174
    Minority interest net income $0
    Net income $174
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $174

    Boonville Federal Savings Bank's gross interest income from loans was $2,488,000.
    Boonville Federal Savings Bank's net interest income from loans was $1,876,000.
    Boonville Federal Savings Bank's fee based income from loans was $111,000.
    Boonville Federal Savings Bank's net income from loans was $174,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $612
    Provision for credit losses $132
    Total noninterest expense $1,752
    Salaries and employee benefits $1,009
    Premises and equipment expense $158
    Additional noninterest expense $585
    Applicable income taxes $65
    Net charge-offs $10
    Cash dividends $0

    Boonville Federal Savings Bank's interest expense for loans was $612,000.
    Boonville Federal Savings Bank's payroll and benefits expense were $1,009,000.
    Boonville Federal Savings Bank's property, plant and equipment expenses $158,000.

    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 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $43,836
    Deposits held in domestic offices $43,836
    Deposits by Individuals, partnerships, and corporations $43,836
    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 $13,835
    Demand deposits $13,835
    Nontransaction accounts $30,001
    Money market deposit accounts (MMDAs) $3,781
    Other savings deposits (excluding MMDAs) $6,264
    Total time deposits $19,956
    Total time and savings deposits $30,001
    Noninterest-bearing deposits $4,021
    Interest-bearing deposits $39,815
    Retail deposits $37,709
    IRAs and Keogh plan accounts $1,540
    Brokered deposits $1,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $63,130
    Cash & Balances due from depository institutions $13,381
    Interest-bearing balances $12,466
    Total securities $7,940
    Federal funds sold & reverse repurchase $0
    Net loans and leases $39,223
    Loan and leases loss allowance $378
    Trading account assets $0
    Bank premises and fixed assets $451
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,135

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $63,130
    Total Liabilities $57,895
    Total deposits $43,836
    Interest-bearing deposits $39,815
    Deposits held in domestic offices $43,836
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $13,608
    Subordinated debt $0
    All other liabilities $451

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $39,223
    Loan and leases loss allowance $378
    Total loans and leases (domestic) $39,601
    All real estate loans $28,526
    Real estate loans in domestic offices $28,526
    Construction and development loans $391
    Residential 1-4 family construction $0
    Other construction, all land development and other land $391
    Loans secured by nonfarm nonresidential properties $2,805
    Nonfarm nonresidential secured by owner-occupied properties $2,586
    Commercial real estate & other non-farm, non-residential $219
    Multifamily residential real estate $195
    1-4 family residential loans $24,871
    Farmland loans $264
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $5,360
    To non-U.S. addressees $0
    Loans to individuals $5,799
    Credit card loans $0
    Related Plans $86
    Consumer Auto Loans $4,050
    Other loans to individuals $1,663
    All other loans & leases $16
    Loans to foreign governments and official institutions $0
    Other loans $16
    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

    BOONVILLE FEDERAL SAVINGS BANK had $39,223,000 of loans outstanding in 2021. $28,526,000 of loans were in real estate loans. $391,000 of loans were in development loans. $195,000 of loans were in multifamily mortgage loans. $24,871,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,050,000 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 13 $2,804 $215,692
    Nonfarm, nonresidential loans - <$100k 2 $45 $22,500
    Nonfarm, nonresidential loans - $100-250k 5 $801 $160,200
    Nonfarm, nonresidential loans - $250k-1MM 6 $1,958 $326,333
    Commercial & Industrial, US addressed loans - <$1MM 92 $4,560 $49,565
    Commercial & Industrial, US addressed loans - <$100k 71 $2,003 $28,211
    Commercial & Industrial, US addressed loans - $100-250k 19 $2,183 $114,895
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $374 $187,000
    Farmland loans - <$1MM 3 $264 $88,000
    Farmland loans - <$100k 2 $79 $39,500
    Farmland loans - $100-250k 1 $185 $185,000