The Riddell National Bank Mortgage Rates, Fees & Info

Brazil, IN

LEI: 2549005LG69OCBT9WE71

Tax ID: 35-0613236

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

Review & Overview

The Riddell National Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Riddell National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Terre Haute, Indianapolis, and Bloomington among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Riddell National 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. The Riddell National 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	6.53%	11/17/24
30 Year Conventional Refi	6.46%	11/17/24
30 Year Cash-out Refi	6.59%	11/17/24
15 Year Conventional Purchase	7.00%	11/17/24
15 Year Conventional Refi	6.00%	11/17/24
15 Year Cash-out Refi	6.00%	11/17/24
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.

The Riddell National Bank Mortgage Calculator

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This is not an official calculator from The Riddell National 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

565

Origination Dollar Volume (All Markets)

$77,025,000

Employee count

Awards

The Riddell National Bank 30 Year Conventional Loans silver

Show all (3) 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
TERRE HAUTE, IN (FHA\|USDA\|VA)	514	$70,250,000	$136,673	$2,077	3.29%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	30	$4,480,000	$149,333	$1,915	3.17%
Outside of Metro Areas	14	$1,400,000	$100,000	$1,589	3.53%
BLOOMINGTON, IN (FHA\|USDA\|VA)	7	$895,000	$127,857	$2,353	3.11%

The Riddell National Bank's top markets include Terre Haute, Indianapolis, and Bloomington among others.

Their top states include:

Indiana (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Similar Lenders

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

Longview Bank & Trust
Similarity Rank: 228

Mutual Savings Bank
Similarity Rank: 264

The Riddell National Bank
Similarity Rank: 300

Independent Federal Credit Union
Similarity Rank: 560

Madison County Federal Credit Union
Similarity Rank: 784

The Peoples State Bank
Similarity Rank: 1188

INDIANA UNIVERSITY CREDIT UNION
Similarity Rank: 1463

LOANFLIGHT LENDING, LLC
Similarity Rank: 1690

OCEANSIDE MORTGAGE COMPANY
Similarity Rank: 1980

FORUM Credit Union
Similarity Rank: 2139

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	565	$77,025,000	$136,327	$2,058	3.29%

For 2021, The Riddell National Bank's most frequently originated type of loan was Conventional, with 565 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	229	$31,125,000	$135,917	$1,991	3.66%
Cash Out Refi	228	$32,930,000	$144,430	$2,199	2.89%
Refi	61	$9,965,000	$163,361	$2,352	3.03%
Other	40	$2,580,000	$64,500	$1,392	3.65%
Home Improvement	7	$425,000	$60,714	$981	4.36%

For 2021, The Riddell National Bank's most frequently cited loan purpose was Home Purchase, with 229 originations. The 2nd most popular reason was Cash Out Refi, with 228 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	235	$40,775,000	$173,511	$2,358	3.11%
15 Year	199	$16,935,000	$85,101	$1,588	3.10%
20 Year	75	$8,245,000	$109,933	$2,078	4.13%
30+ year	35	$9,295,000	$265,571	$2,967	4.00%
10 Year	21	$1,775,000	$84,524	$1,633	2.89%

For 2021, The Riddell National Bank's most frequently cited loan duration was 30 Year, with 235 originations. The 2nd most popular length was 15 Year, with 199 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	371	$61,895,000	$166,833
$<1k	153	$11,625,000	$75,980

The Riddell National Bank's average total fees were $2,358, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 371 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	276	$37,100,000	$134,420
<2.5%	120	$16,320,000	$136,000
2.5-3%	117	$19,485,000	$166,538
4-5%	39	$3,315,000	$85,000
5-6%	13	$805,000	$61,923

During 2021, The Riddell National Bank's average interest rate for loans was 3.11%, while their most frequently originated rate bucket for loans was 3-4%, with 276 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	248	$13,430,000	$54,153	$1,490	3.56%
$100k-200k	183	$25,935,000	$141,721	$2,408	2.98%
$200k-400k	121	$31,645,000	$261,529	$2,522	3.19%
$400k-600k	12	$5,380,000	$448,333	$2,780	3.49%
$600k-1MM	1	$635,000	$635,000	$3,260	4.00%

2021 saw The Riddell National Bank place emphasis on $100,000 or less loans with 248 originations, totaling $13,430,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	157	$16,795,000	$106,975	$1,983	3.32%
$75k-100k	110	$14,690,000	$133,545	$2,098	3.12%
$50k or less	103	$7,225,000	$70,146	$1,869	3.35%
$100k-150k	99	$17,075,000	$172,475	$2,188	3.23%
$150k-250k	64	$13,530,000	$211,406	$2,154	3.22%
$250k+	18	$6,010,000	$333,889	$2,776	3.49%

The Riddell National Bank lent most frequently to those with incomes in the $50k-75k range, with 157 originations. The second most popular income band? $75k-100k, with 110 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	184	$26,810,000	$145,707	$2,047	3.16%
<20%	141	$17,145,000	$121,596	$2,047	3.16%
30-36%	115	$16,485,000	$143,348	$2,088	3.33%
41%	22	$3,090,000	$140,455	$2,191	3.33%
39%	18	$2,420,000	$134,444	$2,007	3.41%
40%	14	$2,060,000	$147,143	$1,890	3.72%
38%	13	$1,725,000	$132,692	$2,166	3.36%
37%	11	$1,475,000	$134,091	$2,162	3.33%
36%	9	$1,215,000	$135,000	$2,021	3.58%
42%	7	$865,000	$123,571	$2,186	3.41%
43%	7	$715,000	$102,143	$2,185	3.43%
44%	3	$565,000	$188,333	$2,268	3.17%
48%	1	$245,000	$245,000	$2,836	3.38%
49%	1	$165,000	$165,000	$0	4.50%
>60%	1	$45,000	$45,000	$0	5.38%

The Riddell National Bank lent most frequently to those with DTI ratios of 20-30%, with 184 originations. The next most common DTI ratio? <20%, with 141 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	540	$72,280,000	$133,852	$2,057	3.26%
Not provided	9	$1,895,000	$210,556	$2,036	3.54%
Asian	6	$1,630,000	$271,667	$2,190	2.92%
Not applicable	8	$700,000	$87,500	$0	4.92%
Native Hawaiian or Islander	1	$365,000	$365,000	$0	4.75%
American Indian	1	$155,000	$155,000	$2,278	3.13%

Approval Rates

Total approvals of all applications
95.36%

The Riddell National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
98.05%

The Riddell National 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	565	$77,025,000	$136,327

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	565	$77,025,000	$136,327

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	39	$2,865,000	$73,462	$1,533	3.44%
40-60%	90	$10,290,000	$114,333	$2,235	2.72%
60-80%	217	$34,565,000	$159,286	$2,357	3.12%
80-100%	149	$27,315,000	$183,322	$2,485	3.48%
Over 100%	1	$65,000	$65,000	$0	5.25%
Under 20%	67	$1,735,000	$25,896	$391	4.02%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
The Riddell National Bank	2211 East National Avenue Brazil, IN 47834	Full Service B&M	$14,641
The Riddell National Bank	4210 Us Hwy 41 South Terre Haute, IN 47802	Full Service B&M	$14,754
The Riddell National Bank	1 East National Avenue Brazil, IN 47834	Full Service B&M	$142,276
The Riddell National Bank	2129 South State Road 46 Terre Haute, IN 47802	Full Service B&M	$36,823
The Riddell National Bank	500 East Main Street Center Point, IN 47840	Full Service B&M	$24,203

For 2021, The Riddell National Bank had 5 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$9,589
Net interest income	$8,563
Total noninterest income	$2,676
Gross Fiduciary activities income	$18
Service charges on deposit accounts	$295
Trading account gains and fees	$0
Additional Noninterest Income	$2,363
Pre-tax net operating income	$3,502
Securities gains (or losses, -)	$-73
Income before extraordinary items	$2,679
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,679
Minority interest net income	$0
Net income	$2,679
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,736

The Riddell National Bank's gross interest income from loans was $9,589,000.
The Riddell National Bank's net interest income from loans was $8,563,000.
The Riddell National Bank's fee based income from loans was $295,000.
The Riddell National Bank's net income from loans was $2,679,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,026
Provision for credit losses	$100
Total noninterest expense	$7,637
Salaries and employee benefits	$3,768
Premises and equipment expense	$853
Additional noninterest expense	$3,016
Applicable income taxes	$750
Net charge-offs	$281
Cash dividends	$800

The Riddell National Bank's interest expense for loans was $1,026,000.
The Riddell National Bank's payroll and benefits expense were $3,768,000.
The Riddell National Bank's property, plant and equipment expenses $853,000.

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	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	1.0%
HELOC loans	0.0%
All other family	1.0%
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	$237,969
Deposits held in domestic offices	$237,969
Deposits by Individuals, partnerships, and corporations	$219,887
Deposits by U.S. Government	$2
Deposits by States and political subdivisions in the U.S.	$17,861
Deposits by Commercial banks and other depository institutions in U.S.	$219
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$115,014
Demand deposits	$66,593
Nontransaction accounts	$122,955
Money market deposit accounts (MMDAs)	$1,630
Other savings deposits (excluding MMDAs)	$50,250
Total time deposits	$71,076
Total time and savings deposits	$171,376
Noninterest-bearing deposits	$66,594
Interest-bearing deposits	$171,375
Retail deposits	$224,546
IRAs and Keogh plan accounts	$12,641
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$273,306
Cash & Balances due from depository institutions	$31,280
Interest-bearing balances	$25,771
Total securities	$40,868
Federal funds sold & reverse repurchase	$0
Net loans and leases	$185,113
Loan and leases loss allowance	$2,090
Trading account assets	$0
Bank premises and fixed assets	$5,781
Other real estate owned	$58
Goodwill and other intangibles	$1,330
All other assets	$8,876

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$273,306
Total Liabilities	$249,686
Total deposits	$237,969
Interest-bearing deposits	$171,375
Deposits held in domestic offices	$237,969
% insured (estimated)	$87
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$8,700
Subordinated debt	$0
All other liabilities	$3,017

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$185,113
Loan and leases loss allowance	$2,090
Total loans and leases (domestic)	$187,203
All real estate loans	$141,716
Real estate loans in domestic offices	$141,716
Construction and development loans	$11,460
Residential 1-4 family construction	$11,460
Other construction, all land development and other land	$0
Loans secured by nonfarm nonresidential properties	$38,050
Nonfarm nonresidential secured by owner-occupied properties	$35,041
Commercial real estate & other non-farm, non-residential	$3,009
Multifamily residential real estate	$932
1-4 family residential loans	$79,612
Farmland loans	$11,662
Loans held in foreign offices	$0
Farm loans	$5,567
Commercial and industrial loans	$24,585
To non-U.S. addressees	$0
Loans to individuals	$13,434
Credit card loans	$983
Related Plans	$0
Consumer Auto Loans	$8,106
Other loans to individuals	$4,345
All other loans & leases	$1,901
Loans to foreign governments and official institutions	$0
Other loans	$300
Loans to depository institutions and acceptances of other banks	$820
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$622
Non 1-4 family restructured loans & leases	$378
Total loans and leases (foreign)	$0

The Riddell National Bank had $185,113,000 of loans outstanding in 2021. $141,716,000 of loans were in real estate loans. $11,460,000 of loans were in development loans. $932,000 of loans were in multifamily mortgage loans. $79,612,000 of loans were in 1-4 family mortgage loans. $5,567,000 of loans were in farm loans. $983,000 of loans were in credit card loans. $8,106,000 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	236	$34,104	$144,508
Nonfarm, nonresidential loans - <$100k	122	$5,321	$43,615
Nonfarm, nonresidential loans - $100-250k	73	$10,996	$150,630
Nonfarm, nonresidential loans - $250k-1MM	41	$17,787	$433,829
Commercial & Industrial, US addressed loans - <$1MM	304	$17,135	$56,365
Commercial & Industrial, US addressed loans - <$100k	255	$5,907	$23,165
Commercial & Industrial, US addressed loans - $100-250k	33	$4,906	$148,667
Commercial & Industrial, US addressed loans - $250k-1MM	16	$6,322	$395,125
Farmland loans - <$1MM	33	$4,013	$121,606
Farmland loans - <$100k	19	$813	$42,789
Farmland loans - $100-250k	9	$1,340	$148,889
Farmland loans - $250k-1MM	5	$1,860	$372,000
Agriculture operations loans - <$1MM	35	$2,638	$75,371
Agriculture operations loans - <$100k	26	$435	$16,731
Agriculture operations loans - $100-250k	5	$881	$176,200
Agriculture operations loans - $250k-1MM	4	$1,322	$330,500