The Friendship State Bank Mortgage Rates, Fees & Info

Friendship, IN

LEI: 254900803AYZRNV49618

Tax ID: 35-0323330

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

Review & Overview

The Friendship State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Friendship State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cincinnati, Madison, Greensburg, Indianapolis, and Louisville among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Friendship State Bank 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. The Friendship State 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.85%	5/4/24
30 Year Conventional Refi	7.26%	5/4/24
30 Year Cash-out Refi	6.29%	5/4/24
30 Year USDA Purchase	7.19%	5/4/24
15 Year Conventional Purchase	6.38%	5/4/24
15 Year Conventional Refi	6.53%	5/4/24
15 Year Cash-out Refi	6.53%	5/4/24
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 Friendship State Bank Mortgage Calculator

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This is not an official calculator from The Friendship State 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

380

Origination Dollar Volume (All Markets)

$46,720,000

Employee count

118

Awards

The Friendship State Bank 30 Year Conventional Loans silver

The Friendship State Bank 30 Year Conventional Loans gold

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
Outside of Metro Areas	190	$21,400,000	$112,632	$1,500	5.09%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	111	$14,305,000	$128,874	$1,670	5.06%
Madison, IN (FHA\|USDA\|VA)	53	$7,715,000	$145,566	$1,634	4.86%
Greensburg, IN (FHA\|USDA\|VA)	9	$1,015,000	$112,778	$1,501	4.81%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	5	$955,000	$191,000	$2,536	4.70%
LOUISVILLE, KY (FHA\|USDA\|VA)	2	$530,000	$265,000	$2,993	4.69%
Scottsburg, IN (FHA\|USDA\|VA)	3	$315,000	$105,000	$1,379	4.92%
North Vernon, IN (FHA\|USDA\|VA)	4	$290,000	$72,500	$1,820	5.50%
COLUMBUS, IN (FHA\|USDA\|VA)	2	$160,000	$80,000	$1,526	4.63%
LIMA, OH (FHA\|USDA\|VA)	1	$35,000	$35,000	$2,092	4.50%

The Friendship State Bank's top markets include Cincinnati, Madison, Greensburg, Indianapolis, and Louisville among others.

Their top states include:

Indiana (FHA|USDA|VA)

Kentucky (FHA|USDA|VA)

Ohio (FHA|USDA|VA)

Similar Lenders

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

MIAMI UNIVERSITY COMMUNITY
Similarity Rank: 120

German American Bank
Similarity Rank: 129

CINCINNATI OHIO POLICE
Similarity Rank: 172

Centra Credit Union
Similarity Rank: 175

RIVER VALLEY CREDIT UNION, INC.
Similarity Rank: 324

CINFED Federal Credit Union
Similarity Rank: 385

Dearborn Savings Bank
Similarity Rank: 510

OPTION FINANCIAL, LLC
Similarity Rank: 522

Somerville Bank
Similarity Rank: 612

Forcht Bank
Similarity Rank: 810

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	379	$46,685,000	$123,179	$1,592	5.03%
HELOC	1	$35,000	$35,000	n/a	5.50%

For 2018, The Friendship State Bank's most frequently originated type of loan was Conventional, with 379 originations. Their 2nd most popular type was HELOC, with 1 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	190	$25,670,000	$135,105	$1,844	5.02%
Cash Out Refi	92	$11,560,000	$125,652	$1,345	5.09%
Refi	57	$6,675,000	$117,105	$1,564	4.93%
Other	22	$1,210,000	$55,000	$1,037	5.14%
Home Improvement	19	$1,605,000	$84,474	$1,245	5.18%

For 2018, The Friendship State Bank's most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was Cash Out Refi, with 92 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
20 Year	157	$18,695,000	$119,076	$1,601	5.23%
30 Year	113	$17,925,000	$158,628	$1,843	4.81%
15 Year	44	$4,300,000	$97,727	$1,597	4.75%
10 Year	40	$2,470,000	$61,750	$1,033	5.21%
Other	13	$1,945,000	$149,615	$1,408	4.89%
1 Year	10	$1,300,000	$130,000	$794	5.15%
5 Year	3	$85,000	$28,333	$165	5.33%

For 2018, The Friendship State Bank's most frequently cited loan duration was 20 Year, with 157 originations. The 2nd most popular length was 30 Year, with 113 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	205	$20,455,000	$99,780
$1k-2k	97	$13,585,000	$140,052
$2k-3k	18	$4,300,000	$238,889
$3k-4k	3	$765,000	$255,000
$4k-5k	1	$165,000	$165,000

The Friendship State Bank's average total fees were $1,843, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 205 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	223	$29,325,000	$131,502
5-6%	93	$12,165,000	$130,806
6-7%	39	$2,435,000	$62,436
3-4%	22	$2,620,000	$119,091
7-8%	3	$175,000	$58,333

During 2018, The Friendship State Bank's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 223 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	189	$10,645,000	$56,323	$1,289	5.23%
$100k-200k	138	$19,990,000	$144,855	$1,694	4.89%
$200k-400k	50	$13,060,000	$261,200	$2,340	4.73%
$400k-600k	2	$1,000,000	$500,000	$776	4.88%
$1MM+	1	$2,025,000	$2,025,000	$0	5.25%

2018 saw The Friendship State Bank place emphasis on $100,000 or less loans with 189 originations, totaling $10,645,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	117	$8,105,000	$69,274	$1,387	5.15%
$50k-75k	101	$10,995,000	$108,861	$1,569	5.01%
$75k-100k	60	$8,090,000	$134,833	$1,691	5.02%
$100k-150k	54	$9,650,000	$178,704	$1,880	4.89%
$150k-250k	17	$3,625,000	$213,235	$2,392	4.69%
$250k+	5	$875,000	$175,000	$1,578	4.68%

The Friendship State Bank lent most frequently to those with incomes in the $50k or less range, with 117 originations. The second most popular income band? $50k-75k, with 101 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	109	$12,325,000	$113,073	$1,536	4.92%
30-36%	87	$11,025,000	$126,724	$1,603	5.01%
<20%	40	$3,360,000	$84,000	$1,429	5.04%
36%	17	$2,465,000	$145,000	$1,628	5.09%
37%	10	$1,480,000	$148,000	$1,976	5.09%
38%	9	$1,855,000	$206,111	$2,557	4.76%
40%	8	$1,000,000	$125,000	$1,977	4.98%
39%	7	$1,215,000	$173,571	$2,136	4.91%
41%	7	$665,000	$95,000	$1,427	5.11%
42%	6	$890,000	$148,333	$1,190	5.29%
44%	1	$85,000	$85,000	$2,073	4.88%
46%	1	$205,000	$205,000	$1,887	4.75%

The Friendship State Bank lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 87 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	366	$42,900,000	$117,213	$1,582	5.03%
Not applicable	13	$3,425,000	$263,462	$0	5.33%
Asian Indian	1	$395,000	$395,000	$4,819	4.88%

Approval Rates

Total approvals of all applications
82.26%

The Friendship State Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
85.79%

The Friendship State Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	380	$46,720,000	$122,947

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	2	$2,580,000	$1,290,000
Single Family (1-4 Units):Manufactured	45	$3,105,000	$69,000
Single Family (1-4 Units):Site-Built	333	$41,035,000	$123,228

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	27	$1,375,000	$50,926	$1,143	4.86%
40-60%	47	$3,915,000	$83,298	$1,448	5.07%
60-80%	169	$23,675,000	$140,089	$1,800	5.09%
80-100%	111	$16,755,000	$150,946	$1,701	4.88%
Under 20%	26	$1,000,000	$38,462	$722	5.51%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
The Friendship State Bank	112 Lighthouse Drive Lawrenceburg, IN 47025	Full Service B&M	$9,986
The Friendship State Bank	12933 Lenover Street Dillsboro, IN 47018	Full Service B&M	$46,163
The Friendship State Bank	1362 State Road 46e Batesville, IN 47006	Full Service B&M	$30,344
The Friendship State Bank	221 West Main Street Vevay, IN 47043	Full Service B&M	$45,877
The Friendship State Bank	301 Demaree Drive Madison, IN 47250	Full Service B&M	$8,054
The Friendship State Bank	401 Main Street Rising Sun, IN 47040	Full Service B&M	$70,223
The Friendship State Bank	430 West U.S. 50 Versailles, IN 47042	Full Service B&M	$66,606
The Friendship State Bank	5908 E Main Street Friendship, IN 47021	Full Service B&M	$43,273

For 2018, The Friendship State Bank had 8 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,507
Net interest income	$14,651
Total noninterest income	$4,764
Gross Fiduciary activities income	$21
Service charges on deposit accounts	$1,138
Trading account gains and fees	$0
Additional Noninterest Income	$3,605
Pre-tax net operating income	$5,640
Securities gains (or losses, -)	$-36
Income before extraordinary items	$4,422
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,422
Minority interest net income	$0
Net income	$4,422
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,450

The Friendship State Bank's gross interest income from loans was $16,507,000.
The Friendship State Bank's net interest income from loans was $14,651,000.
The Friendship State Bank's fee based income from loans was $1,138,000.
The Friendship State Bank's net income from loans was $4,422,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,856
Provision for credit losses	$600
Total noninterest expense	$13,175
Salaries and employee benefits	$8,061
Premises and equipment expense	$1,479
Additional noninterest expense	$3,635
Applicable income taxes	$1,182
Net charge-offs	$208
Cash dividends	$2,511

The Friendship State Bank's interest expense for loans was $1,856,000.
The Friendship State Bank's payroll and benefits expense were $8,061,000.
The Friendship State Bank's property, plant and equipment expenses $1,479,000.

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	0.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$321,255
Deposits held in domestic offices	$321,255
Deposits by Individuals, partnerships, and corporations	$242,263
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$78,992
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	$144,663
Demand deposits	$31,662
Nontransaction accounts	$176,592
Money market deposit accounts (MMDAs)	$58,790
Other savings deposits (excluding MMDAs)	$31,824
Total time deposits	$85,978
Total time and savings deposits	$289,593
Noninterest-bearing deposits	$32,590
Interest-bearing deposits	$288,665
Retail deposits	$296,215
IRAs and Keogh plan accounts	$12,471
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$373,107
Cash & Balances due from depository institutions	$14,489
Interest-bearing balances	$10,069
Total securities	$53,885
Federal funds sold & reverse repurchase	$6,287
Net loans and leases	$277,285
Loan and leases loss allowance	$2,708
Trading account assets	$0
Bank premises and fixed assets	$8,131
Other real estate owned	$194
Goodwill and other intangibles	$3,461
All other assets	$9,375

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$373,106
Total Liabilities	$333,879
Total deposits	$321,255
Interest-bearing deposits	$288,665
Deposits held in domestic offices	$321,255
% insured (estimated)	$70
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$10,000
Subordinated debt	$0
All other liabilities	$2,624

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$277,285
Loan and leases loss allowance	$2,708
Total loans and leases (domestic)	$279,993
All real estate loans	$260,182
Real estate loans in domestic offices	$260,182
Construction and development loans	$13,876
Residential 1-4 family construction	$5,950
Other construction, all land development and other land	$7,926
Loans secured by nonfarm nonresidential properties	$31,261
Nonfarm nonresidential secured by owner-occupied properties	$19,153
Commercial real estate & other non-farm, non-residential	$12,108
Multifamily residential real estate	$3,523
1-4 family residential loans	$180,831
Farmland loans	$30,691
Loans held in foreign offices	$0
Farm loans	$2,189
Commercial and industrial loans	$7,886
To non-U.S. addressees	$0
Loans to individuals	$11,104
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$4,209
Other loans to individuals	$6,895
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

The Friendship State Bank had $277,285,000 of loans outstanding in 2018. $260,182,000 of loans were in real estate loans. $13,876,000 of loans were in development loans. $3,523,000 of loans were in multifamily mortgage loans. $180,831,000 of loans were in 1-4 family mortgage loans. $2,189,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,209,000 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	120	$20,391	$169,925
Nonfarm, nonresidential loans - <$100k	31	$1,243	$40,097
Nonfarm, nonresidential loans - $100-250k	53	$6,787	$128,057
Nonfarm, nonresidential loans - $250k-1MM	36	$12,361	$343,361
Commercial & Industrial, US addressed loans - <$1MM	299	$7,886	$26,375
Commercial & Industrial, US addressed loans - <$100k	282	$5,415	$19,202
Commercial & Industrial, US addressed loans - $100-250k	12	$1,053	$87,750
Commercial & Industrial, US addressed loans - $250k-1MM	5	$1,418	$283,600
Farmland loans - <$1MM	205	$20,950	$102,195
Farmland loans - <$100k	116	$4,276	$36,862
Farmland loans - $100-250k	60	$7,928	$132,133
Farmland loans - $250k-1MM	29	$8,746	$301,586
Agriculture operations loans - <$1MM	62	$1,590	$25,645
Agriculture operations loans - <$100k	58	$1,216	$20,966
Agriculture operations loans - $100-250k	3	$222	$74,000
Agriculture operations loans - $250k-1MM	1	$152	$152,000