Drummond Community Bank Mortgage Rates, Fees & Info

Chiefland, FL

LEI: 254900G3JF710WUIHN65

Tax ID: 59-2976493

2021 Data | 2020 Data | 2019 Data | 2018 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

Item Value (in 000's)
Total interest income $34,101
Net interest income $33,416
Total noninterest income $10,057
Gross Fiduciary activities income $0
Service charges on deposit accounts $3,786
Trading account gains and fees $0
Additional Noninterest Income $6,271
Pre-tax net operating income $13,637
Securities gains (or losses, -) $1,806
Income before extraordinary items $12,487
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $12,487
Minority interest net income $0
Net income $12,487
Sale, conversion, retirement of capital stock, net $0
Net operating income $11,024

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.

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 $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