Drummond Community Bank Mortgage Rates, Fees & Info
Chiefland, FL
LEI: 254900G3JF710WUIHN65
Tax ID: 59-2976493
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Mortgage Data
Bank Data
Overview
Drummond Community Bank is a
smaller
bank
specializing in
Home Purchase
loans.
Drummond Community Bank has a high proportion of conventional loans.
Their top markets include Punta Gorda, North Port, Homosassa Springs, Gainesville, and Ocala among others. Drummond Community Bank has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Originations
405
Origination Dollar Volume (All Markets)
$131,145,000
Employee count
211
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
PUNTA GORDA, FL (FHA|USDA|VA)
|
88
|
$33,220,000 |
$377,500 |
$0 |
0.00% |
|
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)
|
98
|
$29,340,000 |
$299,388 |
$0 |
0.00% |
|
HOMOSASSA SPRINGS, FL (FHA|USDA|VA)
|
41
|
$13,495,000 |
$329,146 |
$0 |
0.00% |
|
GAINESVILLE, FL (FHA|USDA|VA)
|
58
|
$13,300,000 |
$229,310 |
$0 |
0.00% |
|
OCALA, FL (FHA|USDA|VA)
|
33
|
$12,685,000 |
$384,394 |
$0 |
0.00% |
|
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)
|
25
|
$10,475,000 |
$419,000 |
$0 |
0.00% |
|
Lake City, FL (FHA|USDA|VA)
|
29
|
$7,395,000 |
$255,000 |
$0 |
0.00% |
|
Outside of Metro Areas
|
15 |
$3,105,000 |
$207,000 |
$0 |
0.00% |
|
Palatka, FL (FHA|USDA|VA)
|
1
|
$1,685,000 |
$1,685,000 |
$0 |
0.00% |
|
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA)
|
3
|
$1,245,000 |
$415,000 |
$0 |
0.00% |
|
TALLAHASSEE, FL (FHA|USDA|VA)
|
4
|
$1,120,000 |
$280,000 |
$0 |
0.00% |
|
THE VILLAGES, FL (FHA|USDA|VA)
|
2
|
$1,090,000 |
$545,000 |
$0 |
0.00% |
|
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)
|
3
|
$915,000 |
$305,000 |
$0 |
0.00% |
|
JACKSONVILLE, FL (FHA|USDA|VA)
|
1
|
$785,000 |
$785,000 |
$0 |
0.00% |
|
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)
|
2
|
$780,000 |
$390,000 |
$0 |
0.00% |
|
Arcadia, FL (FHA|USDA|VA)
|
2
|
$510,000 |
$255,000 |
$0 |
0.00% |
Drummond Community Bank's top markets include Punta Gorda, North Port, Homosassa Springs, Gainesville, and Ocala among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
405 |
$131,145,000 |
$323,815 |
$0 |
0.00% |
For the 2021 period, Drummond Community Bank's most frequently
originated loan type
of loans were Conventional, with 405 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
376 |
$123,640,000 |
$328,830 |
$0 |
0.00% |
| Refi |
12 |
$4,830,000 |
$402,500 |
$0 |
0.00% |
| Cash Out Refi |
10 |
$1,750,000 |
$175,000 |
$0 |
0.00% |
| Home Improvement |
4 |
$440,000 |
$110,000 |
$0 |
0.00% |
| Other |
3 |
$485,000 |
$161,667 |
$0 |
0.00% |
For the 2021, Drummond Community Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 376
originations.
The 2nd most popular reason of loans were Refi,
with 12 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
405 |
$131,145,000 |
$323,815 |
$0 |
0.00% |
For the 2021, Drummond Community Bank's most frequently cited loan
length
of loans were Other, with 405 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
225 |
$66,525,000 |
$295,667 |
$0 |
0.00% |
| $400k-600k |
88 |
$41,470,000 |
$471,250 |
$0 |
0.00% |
| $100k-200k |
56 |
$9,080,000 |
$162,143 |
$0 |
0.00% |
| $100,000 or less |
23 |
$1,415,000 |
$61,522 |
$0 |
0.00% |
| $600k-1MM |
9 |
$6,365,000 |
$707,222 |
$0 |
0.00% |
| $1MM+ |
4 |
$6,290,000 |
$1,572,500 |
$0 |
0.00% |
2021 saw Drummond Community Bank place emphasis on
$200k-400k loans
with 225 originations, totaling
$66,525,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-150k |
109 |
$39,965,000 |
$366,651 |
$0 |
0.00% |
| $50k-75k |
78 |
$19,670,000 |
$252,179 |
$0 |
0.00% |
| $75k-100k |
76 |
$21,440,000 |
$282,105 |
$0 |
0.00% |
| $150k-250k |
67 |
$25,955,000 |
$387,388 |
$0 |
0.00% |
| $50k or less |
35 |
$6,165,000 |
$176,143 |
$0 |
0.00% |
| $250k+ |
21 |
$12,715,000 |
$605,476 |
$0 |
0.00% |
Drummond Community Bank lent most frequently to those with incomes in the
$100k-150k range, with
109 originations.
The second most popular income band? $50k-75k,
with 78 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
405 |
$131,145,000 |
$323,815 |
$0 |
0.00% |
Drummond Community Bank lent most frequently to those with DTI ratios
of Exempt%, with
405 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
329 |
$106,455,000 |
$323,571 |
$0 |
0.00% |
| Not provided |
39 |
$14,145,000 |
$362,692 |
$0 |
0.00% |
| Not applicable |
19 |
$5,235,000 |
$275,526 |
$0 |
0.00% |
| Asian |
8 |
$2,370,000 |
$296,250 |
$0 |
0.00% |
| Black |
5 |
$1,675,000 |
$335,000 |
$0 |
0.00% |
| American Indian |
2 |
$460,000 |
$230,000 |
$0 |
0.00% |
| Native Hawaiian |
1 |
$405,000 |
$405,000 |
$0 |
0.00% |
| Filipino |
1 |
$255,000 |
$255,000 |
$0 |
0.00% |
| Asian Indian |
1 |
$145,000 |
$145,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
90.27%
Drummond Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination
74.18%
Drummond Community Bank has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
405 |
$131,145,000 |
$323,815 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
405 |
$131,145,000 |
$323,815 |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Drummond Community Bank |
2811 Sw 27th Ave Ocala, FL 34471 |
Full Service B&M
|
$41,242 |
| Drummond Community Bank |
331 E Hathaway Ave Bronson, FL 32621 |
Full Service B&M
|
$34,364 |
| Drummond Community Bank |
01160 N. Suncoast Blvd Crystal River, FL 34429 |
Full Service B&M
|
$47,825 |
| Drummond Community Bank |
104 Ne 351 Hwy Cross City, FL 32628 |
Full Service B&M
|
$38,691 |
| Drummond Community Bank |
120 Southwest 7th Street Williston, FL 32696 |
Limited, Drive-thru
|
$0 |
| Drummond Community Bank |
130 Northeast Clyde Avenue Mayo, FL 32066 |
Full Service B&M
|
$19,654 |
| Drummond Community Bank |
1502 East Wade Street Trenton, FL 32693 |
Full Service B&M
|
$43,135 |
| Drummond Community Bank |
1627 North Young Boulevard Chiefland, FL 32626 |
Full Service B&M
|
$169,649 |
| Drummond Community Bank |
16449 Sw Archer Road Archer, FL 32618 |
Full Service B&M
|
$6,403 |
| Drummond Community Bank |
2455 North Citrus Hills Boulevard Hernando, FL 34442 |
Full Service B&M
|
$34,594 |
| Drummond Community Bank |
342 East Noble Avenue Williston, FL 32696 |
Full Service B&M
|
$155,258 |
| Drummond Community Bank |
3436 W University Ave Gainesville, FL 32607 |
Full Service B&M
|
$37,751 |
| Drummond Community Bank |
350 Sw Main Boulevard Lake City, FL 32025 |
Full Service B&M
|
$64,835 |
| Drummond Community Bank |
3833 Sw 37th Boulevard Gainesville, FL 32608 |
Full Service B&M
|
$12,974 |
| Drummond Community Bank |
3882 West Us Highway 90 Lake City, FL 32055 |
Full Service B&M
|
$25,918 |
| Drummond Community Bank |
7060 C Street Cedar Key, FL 32625 |
Full Service B&M
|
$30,395 |
| Drummond Community Bank |
7075 Us Highway 27 Fort White, FL 32038 |
Full Service B&M
|
$7,179 |
| Drummond Community Bank |
North Highway 19 And 349 Old Town, FL 32680 |
Full Service B&M
|
$40,201 |
For 2021, Drummond Community Bank had 18 branches.
Yearly Performance Overview
Bank Income
Drummond Community Bank's gross interest income from loans was $34,101,000.
Drummond Community Bank's net interest income from loans was $33,416,000.
Drummond Community Bank's fee based income from loans was $3,786,000.
Drummond Community Bank's net income from loans was $12,487,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$685 |
| Provision for credit losses |
$1,406 |
| Total noninterest expense |
$28,430 |
| Salaries and employee benefits |
$14,205 |
| Premises and equipment expense |
$4,842 |
| Additional noninterest expense |
$9,383 |
| Applicable income taxes |
$2,956 |
| Net charge-offs |
$786 |
| Cash dividends |
$1,000 |
Drummond Community Bank's interest expense for loans was $685,000.
Drummond Community Bank's payroll and benefits expense were $14,205,000.
Drummond Community Bank's property, plant and equipment expenses $4,842,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$874,285 |
| Deposits held in domestic offices |
$874,285 |
| Deposits by Individuals, partnerships, and corporations |
$769,200 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$105,085 |
| 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 |
$99,522 |
| Demand deposits |
$83,456 |
| Nontransaction accounts |
$774,763 |
| Money market deposit accounts (MMDAs) |
$92,765 |
| Other savings deposits (excluding MMDAs) |
$602,729 |
| Total time deposits |
$79,269 |
| Total time and savings deposits |
$790,829 |
| Noninterest-bearing deposits |
$440,067 |
| Interest-bearing deposits |
$434,218 |
| Retail deposits |
$829,902 |
| IRAs and Keogh plan accounts |
$5,101 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$985,322 |
| Cash & Balances due from depository institutions |
$49,713 |
| Interest-bearing balances |
$32,161 |
| Total securities |
$412,387 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$482,608 |
| Loan and leases loss allowance |
$9,380 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$25,931 |
| Other real estate owned |
$523 |
| Goodwill and other intangibles |
$901 |
| All other assets |
$13,259 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$985,322 |
| Total Liabilities |
$881,734 |
| Total deposits |
$874,285 |
| Interest-bearing deposits |
$434,218 |
| Deposits held in domestic offices |
$874,285 |
| % insured (estimated) |
$68 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$0 |
| Subordinated debt |
$0 |
| All other liabilities |
$7,449 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$482,608 |
| Loan and leases loss allowance |
$9,380 |
| Total loans and leases (domestic) |
$491,988 |
| All real estate loans |
$336,090 |
| Real estate loans in domestic offices |
$336,090 |
| Construction and development loans |
$80,420 |
| Residential 1-4 family construction |
$32,382 |
| Other construction, all land development and other land |
$48,038 |
| Loans secured by nonfarm nonresidential properties |
$142,722 |
| Nonfarm nonresidential secured by owner-occupied properties |
$80,106 |
| Commercial real estate & other non-farm, non-residential |
$62,616 |
| Multifamily residential real estate |
$4,580 |
| 1-4 family residential loans |
$89,101 |
| Farmland loans |
$19,267 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$7,653 |
| Commercial and industrial loans |
$56,843 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$88,166 |
| Credit card loans |
$1,715 |
| Related Plans |
$447 |
| Consumer Auto Loans |
$1,753 |
| Other loans to individuals |
$84,251 |
| All other loans & leases |
$3,236 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$1,103 |
| Loans to depository institutions and acceptances of other banks |
$0 |
| Loans not secured by real estate |
$3,212 |
| Loans secured by real estate to non-U.S. addressees |
$1,136 |
| Restructured Loans & leases |
$850 |
| Non 1-4 family restructured loans & leases |
$604 |
| Total loans and leases (foreign) |
$0 |
DRUMMOND COMMUNITY BANK had $482,608,000 of loans outstanding in 2021. $336,090,000 of loans were in real estate loans.
$80,420,000 of loans were in development loans. $4,580,000 of loans were in multifamily mortgage loans.
$89,101,000 of loans were in 1-4 family mortgage loans. $7,653,000 of loans were in farm loans. $1,715,000
of loans were in credit card loans. $1,753,000 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 |
303 |
$65,261 |
$215,383 |
| Nonfarm, nonresidential loans - <$100k |
67 |
$2,612 |
$38,985 |
| Nonfarm, nonresidential loans - $100-250k |
99 |
$12,341 |
$124,657 |
| Nonfarm, nonresidential loans - $250k-1MM |
137 |
$50,308 |
$367,212 |
| Commercial & Industrial, US addressed loans - <$1MM |
592 |
$42,979 |
$72,600 |
| Commercial & Industrial, US addressed loans - <$100k |
397 |
$8,407 |
$21,176 |
| Commercial & Industrial, US addressed loans - $100-250k |
117 |
$11,131 |
$95,137 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
78 |
$23,441 |
$300,526 |
| Farmland loans - <$1MM |
82 |
$8,932 |
$108,927 |
| Farmland loans - <$100k |
30 |
$962 |
$32,067 |
| Farmland loans - $100-250k |
38 |
$4,103 |
$107,974 |
| Farmland loans - $250k-1MM |
14 |
$3,867 |
$276,214 |
| Agriculture operations loans - <$1MM |
40 |
$1,888 |
$47,200 |
| Agriculture operations loans - <$100k |
29 |
$499 |
$17,207 |
| Agriculture operations loans - $100-250k |
7 |
$563 |
$80,429 |
| Agriculture operations loans - $250k-1MM |
4 |
$826 |
$206,500 |
