Drummond Community Bank Mortgage Rates, Fees & Info

Chiefland, FL

LEI: 254900G3JF710WUIHN65

Tax ID: 59-2976493

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

Review & Overview

Drummond Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Drummond Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Gainesville, Ocala, Lake City, Homosassa Springs, and Tallahassee among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Drummond Community 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.

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Originations

103

Origination Dollar Volume (All Markets)

$14,075,000

Employee count

166

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
GAINESVILLE, FL (FHA\|USDA\|VA)	47	$6,435,000	$136,915	$0	0.00%
Outside of Metro Areas	23	$2,235,000	$97,174	$0	0.00%
OCALA, FL (FHA\|USDA\|VA)	10	$2,160,000	$216,000	$0	0.00%
Lake City, FL (FHA\|USDA\|VA)	13	$1,325,000	$101,923	$0	0.00%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	7	$955,000	$136,429	$0	0.00%
TALLAHASSEE, FL (FHA\|USDA\|VA)	1	$695,000	$695,000	$0	0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$0	0.00%
Palatka, FL (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	0.00%

Drummond Community Bank's top markets include Gainesville, Ocala, Lake City, Homosassa Springs, and Tallahassee among others.

Their top states include:

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	103	$14,075,000	$136,650	$0	0.00%

For 2018, Drummond Community Bank's most frequently originated type of loan was Conventional, with 103 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	71	$9,805,000	$138,099	$0	0.00%
Refi	24	$3,600,000	$150,000	$0	0.00%
Home Improvement	5	$565,000	$113,000	$0	0.00%
Other	3	$105,000	$35,000	$0	0.00%

For 2018, Drummond Community Bank's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 24 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	103	$14,075,000	$136,650	$0	0.00%

For 2018, Drummond Community Bank's most frequently cited loan duration was Other, with 103 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	50	$2,820,000	$56,400	$0	0.00%
$100k-200k	29	$4,095,000	$141,207	$0	0.00%
$200k-400k	20	$4,980,000	$249,000	$0	0.00%
$400k-600k	3	$1,485,000	$495,000	$0	0.00%
$600k-1MM	1	$695,000	$695,000	$0	0.00%

2018 saw Drummond Community Bank place emphasis on $100,000 or less loans with 50 originations, totaling $2,820,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	27	$2,065,000	$76,481	$0	0.00%
$50k-75k	16	$1,610,000	$100,625	$0	0.00%
$75k-100k	14	$1,830,000	$130,714	$0	0.00%
$100k-150k	12	$2,010,000	$167,500	$0	0.00%
$150k-250k	10	$1,900,000	$190,000	$0	0.00%
$250k+	5	$2,015,000	$403,000	$0	0.00%

Drummond Community Bank lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 16 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	103	$14,075,000	$136,650	$0	0.00%

Drummond Community Bank lent most frequently to those with DTI ratios of Exempt%, with 103 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	81	$10,975,000	$135,494	$0	0.00%
Not applicable	17	$2,265,000	$133,235	$0	0.00%
Asian	2	$590,000	$295,000	$0	0.00%
Black	2	$210,000	$105,000	$0	0.00%
Not provided	1	$35,000	$35,000	$0	0.00%

Approval Rates

Total approvals of all applications
84.93%

Drummond Community Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
79.61%

Drummond Community Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	103	$14,075,000	$136,650

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$175,000	$175,000
Multifamily:Site-Built	2	$530,000	$265,000
Single Family (1-4 Units):Manufactured	23	$1,285,000	$55,870
Single Family (1-4 Units):Site-Built	77	$12,085,000	$156,948

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Drummond Community Bank	130 Northeast Clyde Avenue Mayo, FL 32066	Full Service B&M	$11,908
Drummond Community Bank	01160 N. Suncoast Blvd Crystal River, FL 34429	Full Service B&M	$15,300
Drummond Community Bank	104 Ne 351 Hwy Cross City, FL 32628	Full Service B&M	$32,020
Drummond Community Bank	120 Southwest 7th Street Williston, FL 32696	Limited, Drive-thru	$0
Drummond Community Bank	1502 East Wade Street Trenton, FL 32693	Full Service B&M	$21,265
Drummond Community Bank	1627 North Young Boulevard Chiefland, FL 32626	Full Service B&M	$135,260
Drummond Community Bank	16449 Sw Archer Road Archer, FL 32618	Full Service B&M	$5,514
Drummond Community Bank	2455 North Citrus Hills Boulevard Hernando, FL 34442	Full Service B&M	$25,486
Drummond Community Bank	2811 Sw 27th Ave Ocala, FL 34471	Full Service B&M	$14,760
Drummond Community Bank	331 E Hathaway Ave Bronson, FL 32621	Full Service B&M	$16,834
Drummond Community Bank	342 East Noble Avenue Williston, FL 32696	Full Service B&M	$107,417
Drummond Community Bank	3436 W University Ave Gainesville, FL 32607	Full Service B&M	$10,760
Drummond Community Bank	345 West Highway 40 Inglis, FL 34449	Full Service B&M	$10,096
Drummond Community Bank	7060 C Street Cedar Key, FL 32625	Full Service B&M	$18,170
Drummond Community Bank	North Highway 19 And 349 Old Town, FL 32680	Full Service B&M	$25,558

For 2018, Drummond Community Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$22,954
Net interest income	$22,214
Total noninterest income	$5,609
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,468
Trading account gains and fees	$0
Additional Noninterest Income	$3,141
Pre-tax net operating income	$8,187
Securities gains (or losses, -)	$-17
Income before extraordinary items	$8,212
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$8,212
Minority interest net income	$0
Net income	$8,212
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$8,229

Drummond Community Bank's gross interest income from loans was $22,954,000.
Drummond Community Bank's net interest income from loans was $22,214,000.
Drummond Community Bank's fee based income from loans was $2,468,000.
Drummond Community Bank's net income from loans was $8,212,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$740
Provision for credit losses	$900
Total noninterest expense	$18,736
Salaries and employee benefits	$9,359
Premises and equipment expense	$3,588
Additional noninterest expense	$5,789
Applicable income taxes	$-42
Net charge-offs	$767
Cash dividends	$6,503

Drummond Community Bank's interest expense for loans was $740,000.
Drummond Community Bank's payroll and benefits expense were $9,359,000.
Drummond Community Bank's property, plant and equipment expenses $3,588,000.

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	1.0%
HELOC loans	5.0%
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	$463,073
Deposits held in domestic offices	$463,073
Deposits by Individuals, partnerships, and corporations	$402,706
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$60,367
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	$59,034
Demand deposits	$48,198
Nontransaction accounts	$404,039
Money market deposit accounts (MMDAs)	$47,181
Other savings deposits (excluding MMDAs)	$301,217
Total time deposits	$55,641
Total time and savings deposits	$414,875
Noninterest-bearing deposits	$210,999
Interest-bearing deposits	$252,074
Retail deposits	$441,482
IRAs and Keogh plan accounts	$5,084
Brokered deposits	$12,000
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$525,509
Cash & Balances due from depository institutions	$39,822
Interest-bearing balances	$32,305
Total securities	$161,538
Federal funds sold & reverse repurchase	$0
Net loans and leases	$291,332
Loan and leases loss allowance	$7,181
Trading account assets	$0
Bank premises and fixed assets	$16,371
Other real estate owned	$1,332
Goodwill and other intangibles	$856
All other assets	$14,258

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$525,509
Total Liabilities	$464,876
Total deposits	$463,073
Interest-bearing deposits	$252,074
Deposits held in domestic offices	$463,073
% insured (estimated)	$71
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$1,803

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$291,332
Loan and leases loss allowance	$7,181
Total loans and leases (domestic)	$298,513
All real estate loans	$243,347
Real estate loans in domestic offices	$243,347
Construction and development loans	$40,038
Residential 1-4 family construction	$5,035
Other construction, all land development and other land	$35,003
Loans secured by nonfarm nonresidential properties	$110,221
Nonfarm nonresidential secured by owner-occupied properties	$54,658
Commercial real estate & other non-farm, non-residential	$55,563
Multifamily residential real estate	$2,382
1-4 family residential loans	$78,418
Farmland loans	$12,288
Loans held in foreign offices	$0
Farm loans	$6,037
Commercial and industrial loans	$32,210
To non-U.S. addressees	$0
Loans to individuals	$13,457
Credit card loans	$838
Related Plans	$129
Consumer Auto Loans	$2,108
Other loans to individuals	$10,382
All other loans & leases	$3,634
Loans to foreign governments and official institutions	$0
Other loans	$1,113
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$934
Loans secured by real estate to non-U.S. addressees	$835
Restructured Loans & leases	$2,309
Non 1-4 family restructured loans & leases	$2,222
Total loans and leases (foreign)	$0

DRUMMOND COMMUNITY BANK had $291,332,000 of loans outstanding in 2018. $243,347,000 of loans were in real estate loans. $40,038,000 of loans were in development loans. $2,382,000 of loans were in multifamily mortgage loans. $78,418,000 of loans were in 1-4 family mortgage loans. $6,037,000 of loans were in farm loans. $838,000 of loans were in credit card loans. $2,108,000 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	255	$52,428	$205,600
Nonfarm, nonresidential loans - <$100k	64	$2,771	$43,297
Nonfarm, nonresidential loans - $100-250k	85	$10,004	$117,694
Nonfarm, nonresidential loans - $250k-1MM	106	$39,653	$374,085
Commercial & Industrial, US addressed loans - <$1MM	422	$27,328	$64,758
Commercial & Industrial, US addressed loans - <$100k	314	$6,028	$19,197
Commercial & Industrial, US addressed loans - $100-250k	63	$6,940	$110,159
Commercial & Industrial, US addressed loans - $250k-1MM	45	$14,360	$319,111
Farmland loans - <$1MM	89	$9,247	$103,899
Farmland loans - <$100k	40	$1,473	$36,825
Farmland loans - $100-250k	35	$4,278	$122,229
Farmland loans - $250k-1MM	14	$3,496	$249,714
Agriculture operations loans - <$1MM	43	$2,637	$61,326
Agriculture operations loans - <$100k	32	$810	$25,313
Agriculture operations loans - $100-250k	8	$908	$113,500
Agriculture operations loans - $250k-1MM	3	$919	$306,333