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

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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

    The Friendship State Bank is a smaller bank specializing in Home Purchase and Refi loans. The Friendship State Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Cincinnati, Madison, Greensburg, Indianapolis, and Charleston 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.85% 11/21/24
    30 Year Conventional Refi 7.26% 11/21/24
    30 Year Cash-out Refi 6.29% 11/21/24
    30 Year USDA Purchase 7.19% 11/21/24
    15 Year Conventional Purchase 6.38% 11/21/24
    15 Year Conventional Refi 6.53% 11/21/24
    15 Year Cash-out Refi 6.53% 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.

    The Friendship State Bank Mortgage Calculator






    Your Estimates

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

    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

    338

    Origination Dollar Volume (All Markets)

    $42,470,000

    Employee count

    116

    Awards

    The Friendship State Bank 30 Year Conventional Loans gold The Friendship State Bank 30 Year Conventional Loans gold The Friendship State Bank 30 Year Conventional Loans gold The Friendship State Bank 30 Year Conventional Loans gold
    Show all (4) 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 170 $19,090,000 $112,294 $1,336 5.01%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 98 $13,730,000 $140,102 $1,475 4.76%
    Madison, IN (FHA|USDA|VA) 56 $6,870,000 $122,679 $1,678 4.99%
    Greensburg, IN (FHA|USDA|VA) 4 $890,000 $222,500 $1,255 4.88%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $565,000 $188,333 $2,418 5.25%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $485,000 $485,000 $6,820 4.00%
    North Vernon, IN (FHA|USDA|VA) 3 $305,000 $101,667 $1,827 5.00%
    COLUMBUS, IN (FHA|USDA|VA) 1 $255,000 $255,000 $0 4.75%
    Seymour, IN (FHA|USDA|VA) 1 $235,000 $235,000 $2,817 3.75%
    Scottsburg, IN (FHA|USDA|VA) 1 $45,000 $45,000 $1,064 6.50%
    The Friendship State Bank's top markets include Cincinnati, Madison, Greensburg, Indianapolis, and Charleston among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Kentucky (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.

    The North Side Bank & Trust Company
    Similarity Rank: 55
    CINFED Federal Credit Union
    Similarity Rank: 162
    Centra Credit Union
    Similarity Rank: 231
    German American Bank
    Similarity Rank: 304
    FAIR WAY LENDING LLC
    Similarity Rank: 378
    RIVER VALLEY CREDIT UNION, INC.
    Similarity Rank: 504
    LCNB National Bank
    Similarity Rank: 828
    Somerville Bank
    Similarity Rank: 1001
    TELHIO
    Similarity Rank: 1054
    The Friendship State Bank
    Similarity Rank: 1110

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 335 $42,105,000 $125,687 $1,440 4.94%
    USDA 3 $365,000 $121,667 $3,195 4.58%

    For 2019, The Friendship State Bank's most frequently originated type of loan was Conventional, with 335 originations. Their 2nd most popular type was USDA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 157 $22,275,000 $141,879 $1,693 4.86%
    Refi 138 $16,090,000 $116,594 $1,189 4.92%
    Home Improvement 18 $1,690,000 $93,889 $1,052 5.42%
    Other 17 $1,325,000 $77,941 $1,243 5.65%
    Cash Out Refi 8 $1,090,000 $136,250 $2,769 3.97%

    For 2019, The Friendship State Bank's most frequently cited loan purpose was Home Purchase, with 157 originations. The 2nd most popular reason was Refi, with 138 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 160 $25,630,000 $160,188 $1,641 4.49%
    20 Year 85 $8,515,000 $100,176 $1,394 5.56%
    10 Year 33 $1,715,000 $51,970 $857 5.48%
    15 Year 32 $3,550,000 $110,938 $1,372 4.50%
    Other 15 $1,775,000 $118,333 $1,012 5.32%
    1 Year 8 $1,190,000 $148,750 $1,089 5.53%
    5 Year 4 $80,000 $20,000 $748 5.00%
    3 Year 1 $15,000 $15,000 $0 7.50%

    For 2019, The Friendship State Bank's most frequently cited loan duration was 30 Year, with 160 originations. The 2nd most popular length was 20 Year, with 85 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 231 $27,565,000 $119,329
    $1k-2k 58 $9,390,000 $161,897
    $2k-3k 4 $960,000 $240,000
    $3k-4k 2 $390,000 $195,000
    $4k-5k 1 $485,000 $485,000

    The Friendship State Bank's average total fees were $1,641, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 231 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 175 $25,145,000 $143,686
    5-6% 92 $9,640,000 $104,783
    6-7% 41 $2,465,000 $60,122
    3-4% 29 $5,205,000 $179,483
    7-8% 1 $15,000 $15,000

    During 2019, The Friendship State Bank's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 157 $9,385,000 $59,777 $1,197 5.32%
    $100k-200k 125 $17,925,000 $143,400 $1,616 4.63%
    $200k-400k 55 $14,675,000 $266,818 $1,613 4.54%
    $400k-600k 1 $485,000 $485,000 $6,820 4.00%

    2019 saw The Friendship State Bank place emphasis on $100,000 or less loans with 157 originations, totaling $9,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 107 $9,115,000 $85,187 $1,338 5.05%
    $50k-75k 88 $11,060,000 $125,682 $1,429 4.96%
    $75k-100k 61 $8,495,000 $139,262 $1,590 4.86%
    $100k-150k 44 $7,730,000 $175,682 $1,539 4.79%
    $150k-250k 19 $3,205,000 $168,684 $1,974 4.78%
    $250k+ 4 $1,010,000 $252,500 $1,387 4.69%

    The Friendship State Bank lent most frequently to those with incomes in the $50k or less range, with 107 originations. The second most popular income band? $50k-75k, with 88 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 113 $14,195,000 $125,619 $1,482 4.94%
    30-36% 67 $8,875,000 $132,463 $1,413 4.81%
    <20% 42 $3,650,000 $86,905 $1,392 4.84%
    36% 17 $2,495,000 $146,765 $1,264 4.78%
    39% 8 $1,220,000 $152,500 $1,745 4.80%
    41% 6 $810,000 $135,000 $1,560 4.83%
    38% 6 $720,000 $120,000 $1,560 4.63%
    40% 5 $905,000 $181,000 $1,557 5.05%
    50-60% 4 $630,000 $157,500 $1,627 4.13%
    37% 3 $455,000 $151,667 $1,079 4.83%
    42% 3 $295,000 $98,333 $1,299 4.96%
    44% 2 $290,000 $145,000 $1,572 4.19%
    43% 2 $450,000 $225,000 $2,118 4.00%
    48% 2 $610,000 $305,000 $4,604 4.25%
    45% 1 $75,000 $75,000 $1,145 3.75%

    The Friendship State Bank lent most frequently to those with DTI ratios of 20-30%, with 113 originations. The next most common DTI ratio? 30-36%, with 67 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 322 $40,490,000 $125,745 $1,450 4.91%
    Not provided 3 $735,000 $245,000 $1,892 4.29%
    Not applicable 7 $525,000 $75,000 $0 5.64%
    Asian 2 $460,000 $230,000 $1,469 4.50%
    American Indian 3 $185,000 $61,667 $1,765 6.50%
    Asian Indian 1 $75,000 $75,000 $0 4.75%

    Approval Rates

    Total approvals of all applications
    77.50%

    The Friendship State Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    79.29%

    The Friendship State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 338 $42,470,000 $125,651

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $230,000 $115,000
    Single Family (1-4 Units):Manufactured 40 $2,460,000 $61,500
    Single Family (1-4 Units):Site-Built 296 $39,780,000 $134,392

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 23 $1,595,000 $69,348 $1,064 4.89%
    40-60% 53 $5,005,000 $94,434 $1,226 5.10%
    60-80% 139 $18,025,000 $129,676 $1,555 5.03%
    80-100% 109 $17,495,000 $160,505 $1,630 4.63%
    Under 20% 14 $350,000 $25,000 $536 5.77%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Friendship State Bank 1362 State Road 46e Batesville, IN 47006 Full Service B&M $37,361
    The Friendship State Bank 112 Lighthouse Drive Lawrenceburg, IN 47025 Full Service B&M $16,082
    The Friendship State Bank 12933 Lenover Street Dillsboro, IN 47018 Full Service B&M $48,766
    The Friendship State Bank 221 West Main Street Vevay, IN 47043 Full Service B&M $50,397
    The Friendship State Bank 301 Demaree Drive Madison, IN 47250 Full Service B&M $12,845
    The Friendship State Bank 401 Main Street Rising Sun, IN 47040 Full Service B&M $63,248
    The Friendship State Bank 430 West U.S. 50 Versailles, IN 47042 Full Service B&M $68,615
    The Friendship State Bank 5908 E Main Street Friendship, IN 47021 Full Service B&M $45,034

    For 2019, The Friendship State Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,186
    Net interest income $15,810
    Total noninterest income $5,074
    Gross Fiduciary activities income $21
    Service charges on deposit accounts $1,245
    Trading account gains and fees $0
    Additional Noninterest Income $3,808
    Pre-tax net operating income $6,922
    Securities gains (or losses, -) $-2
    Income before extraordinary items $5,436
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,436
    Minority interest net income $0
    Net income $5,436
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,437

    The Friendship State Bank's gross interest income from loans was $18,186,000.
    The Friendship State Bank's net interest income from loans was $15,810,000.
    The Friendship State Bank's fee based income from loans was $1,245,000.
    The Friendship State Bank's net income from loans was $5,436,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,376
    Provision for credit losses $250
    Total noninterest expense $13,712
    Salaries and employee benefits $8,407
    Premises and equipment expense $1,429
    Additional noninterest expense $3,876
    Applicable income taxes $1,484
    Net charge-offs $136
    Cash dividends $4,512

    The Friendship State Bank's interest expense for loans was $2,376,000.
    The Friendship State Bank's payroll and benefits expense were $8,407,000.
    The Friendship State Bank's property, plant and equipment expenses $1,429,000.

    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 $345,592
    Deposits held in domestic offices $345,592
    Deposits by Individuals, partnerships, and corporations $255,482
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $90,110
    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 $155,359
    Demand deposits $35,049
    Nontransaction accounts $190,233
    Money market deposit accounts (MMDAs) $56,981
    Other savings deposits (excluding MMDAs) $33,892
    Total time deposits $99,360
    Total time and savings deposits $310,543
    Noninterest-bearing deposits $36,271
    Interest-bearing deposits $309,321
    Retail deposits $312,385
    IRAs and Keogh plan accounts $12,412
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $388,676
    Cash & Balances due from depository institutions $19,453
    Interest-bearing balances $11,937
    Total securities $47,840
    Federal funds sold & reverse repurchase $11,546
    Net loans and leases $287,909
    Loan and leases loss allowance $2,822
    Trading account assets $0
    Bank premises and fixed assets $9,097
    Other real estate owned $0
    Goodwill and other intangibles $3,002
    All other assets $9,829

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $388,676
    Total Liabilities $347,900
    Total deposits $345,592
    Interest-bearing deposits $309,321
    Deposits held in domestic offices $345,592
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,308

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $287,909
    Loan and leases loss allowance $2,822
    Total loans and leases (domestic) $290,731
    All real estate loans $271,642
    Real estate loans in domestic offices $271,642
    Construction and development loans $17,172
    Residential 1-4 family construction $7,241
    Other construction, all land development and other land $9,931
    Loans secured by nonfarm nonresidential properties $35,568
    Nonfarm nonresidential secured by owner-occupied properties $20,803
    Commercial real estate & other non-farm, non-residential $14,765
    Multifamily residential real estate $3,322
    1-4 family residential loans $184,567
    Farmland loans $31,013
    Loans held in foreign offices $0
    Farm loans $1,637
    Commercial and industrial loans $7,374
    To non-U.S. addressees $0
    Loans to individuals $11,335
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,050
    Other loans to individuals $7,285
    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 $199
    Non 1-4 family restructured loans & leases $74
    Total loans and leases (foreign) $0

    The Friendship State Bank had $287,909,000 of loans outstanding in 2019. $271,642,000 of loans were in real estate loans. $17,172,000 of loans were in development loans. $3,322,000 of loans were in multifamily mortgage loans. $184,567,000 of loans were in 1-4 family mortgage loans. $1,637,000 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 125 $19,423 $155,384
    Nonfarm, nonresidential loans - <$100k 37 $1,361 $36,784
    Nonfarm, nonresidential loans - $100-250k 53 $6,424 $121,208
    Nonfarm, nonresidential loans - $250k-1MM 35 $11,638 $332,514
    Commercial & Industrial, US addressed loans - <$1MM 258 $7,362 $28,535
    Commercial & Industrial, US addressed loans - <$100k 241 $4,494 $18,647
    Commercial & Industrial, US addressed loans - $100-250k 12 $1,091 $90,917
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,777 $355,400
    Farmland loans - <$1MM 193 $21,793 $112,917
    Farmland loans - <$100k 95 $3,755 $39,526
    Farmland loans - $100-250k 68 $8,901 $130,897
    Farmland loans - $250k-1MM 30 $9,137 $304,567
    Agriculture operations loans - <$1MM 58 $943 $16,259
    Agriculture operations loans - <$100k 57 $943 $16,544
    Agriculture operations loans - $100-250k 1 $0 $0