Drummond Community Bank Mortgage Rates, Fees & Info

Chiefland, FL

LEI: 254900G3JF710WUIHN65

Tax ID: 59-2976493

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    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 by origination volume include: Punta Gorda, Gainesville, Ocala, Lake City, and Homosassa Springs among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Drummond Community Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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.

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    Originations

    164

    Origination Dollar Volume (All Markets)

    $38,590,000

    Employee count

    199

    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
    PUNTA GORDA, FL (FHA|USDA|VA) 37 $13,905,000 $375,811 $0 0.00%
    GAINESVILLE, FL (FHA|USDA|VA) 39 $6,275,000 $160,897 $0 0.00%
    OCALA, FL (FHA|USDA|VA) 18 $4,770,000 $265,000 $0 0.00%
    Lake City, FL (FHA|USDA|VA) 21 $3,405,000 $162,143 $0 0.00%
    Outside of Metro Areas 20 $3,050,000 $152,500 $0 0.00%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 11 $2,175,000 $197,727 $0 0.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 8 $2,100,000 $262,500 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 3 $835,000 $278,333 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $815,000 $271,667 $0 0.00%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $670,000 $335,000 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Drummond Community Bank's top markets include Punta Gorda, Gainesville, Ocala, Lake City, and Homosassa Springs among others.

    Their top states include:
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 164 $38,590,000 $235,305 $0 0.00%

    For 2019, Drummond Community Bank's most frequently originated type of loan was Conventional, with 164 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 139 $34,825,000 $250,540 $0 0.00%
    Refi 22 $3,450,000 $156,818 $0 0.00%
    Cash Out Refi 2 $260,000 $130,000 $0 0.00%
    Home Improvement 1 $55,000 $55,000 $0 0.00%

    For 2019, Drummond Community Bank's most frequently cited loan purpose was Home Purchase, with 139 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 164 $38,590,000 $235,305 $0 0.00%

    For 2019, Drummond Community Bank's most frequently cited loan duration was Other, with 164 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 58 $16,150,000 $278,448 $0 0.00%
    $100k-200k 43 $6,195,000 $144,070 $0 0.00%
    $100,000 or less 36 $2,080,000 $57,778 $0 0.00%
    $400k-600k 22 $10,050,000 $456,818 $0 0.00%
    $600k-1MM 4 $3,090,000 $772,500 $0 0.00%
    $1MM+ 1 $1,025,000 $1,025,000 $0 0.00%

    2019 saw Drummond Community Bank place emphasis on $200k-400k loans with 58 originations, totaling $16,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 42 $12,670,000 $301,667 $0 0.00%
    $50k or less 29 $2,935,000 $101,207 $0 0.00%
    $75k-100k 29 $6,495,000 $223,966 $0 0.00%
    $50k-75k 24 $4,200,000 $175,000 $0 0.00%
    $150k-250k 22 $8,020,000 $364,545 $0 0.00%
    $250k+ 8 $2,360,000 $295,000 $0 0.00%

    Drummond Community Bank lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $50k or less, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 164 $38,590,000 $235,305 $0 0.00%

    Drummond Community Bank lent most frequently to those with DTI ratios of Exempt%, with 164 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $34,095,000 $238,427 $0 0.00%
    Asian 7 $1,725,000 $246,429 $0 0.00%
    Not applicable 9 $1,655,000 $183,889 $0 0.00%
    Black 4 $990,000 $247,500 $0 0.00%
    Asian Indian 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.37%

    Drummond Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.88%

    Drummond Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 164 $38,590,000 $235,305

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 24 $2,190,000 $91,250
    Single Family (1-4 Units):Site-Built 140 $36,400,000 $260,000

    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 $19,302
    Drummond Community Bank 01160 N. Suncoast Blvd Crystal River, FL 34429 Full Service B&M $15,071
    Drummond Community Bank 104 Ne 351 Hwy Cross City, FL 32628 Full Service B&M $30,672
    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 $14,287
    Drummond Community Bank 1502 East Wade Street Trenton, FL 32693 Full Service B&M $23,148
    Drummond Community Bank 1627 North Young Boulevard Chiefland, FL 32626 Full Service B&M $144,521
    Drummond Community Bank 16449 Sw Archer Road Archer, FL 32618 Full Service B&M $5,375
    Drummond Community Bank 2455 North Citrus Hills Boulevard Hernando, FL 34442 Full Service B&M $27,563
    Drummond Community Bank 331 E Hathaway Ave Bronson, FL 32621 Full Service B&M $25,825
    Drummond Community Bank 342 East Noble Avenue Williston, FL 32696 Full Service B&M $111,601
    Drummond Community Bank 3436 W University Ave Gainesville, FL 32607 Full Service B&M $24,784
    Drummond Community Bank 345 West Highway 40 Inglis, FL 34449 Full Service B&M $11,123
    Drummond Community Bank 350 Sw Main Boulevard Lake City, FL 32025 Full Service B&M $43,339
    Drummond Community Bank 3882 West Us Highway 90 Lake City, FL 32055 Full Service B&M $15,905
    Drummond Community Bank 7060 C Street Cedar Key, FL 32625 Full Service B&M $21,696
    Drummond Community Bank 7075 Us Highway 27 Fort White, FL 32038 Full Service B&M $2,297
    Drummond Community Bank North Highway 19 And 349 Old Town, FL 32680 Full Service B&M $26,563

    For 2019, Drummond Community Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,153
    Net interest income $26,237
    Total noninterest income $7,010
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,778
    Trading account gains and fees $0
    Additional Noninterest Income $4,232
    Pre-tax net operating income $9,383
    Securities gains (or losses, -) $13
    Income before extraordinary items $8,005
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,005
    Minority interest net income $0
    Net income $8,005
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,993

    Drummond Community Bank's gross interest income from loans was $28,153,000.
    Drummond Community Bank's net interest income from loans was $26,237,000.
    Drummond Community Bank's fee based income from loans was $2,778,000.
    Drummond Community Bank's net income from loans was $8,005,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,916
    Provision for credit losses $661
    Total noninterest expense $23,203
    Salaries and employee benefits $11,402
    Premises and equipment expense $4,292
    Additional noninterest expense $7,509
    Applicable income taxes $1,391
    Net charge-offs $139
    Cash dividends $7,000

    Drummond Community Bank's interest expense for loans was $1,916,000.
    Drummond Community Bank's payroll and benefits expense were $11,402,000.
    Drummond Community Bank's property, plant and equipment expenses $4,292,000.

    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 $574,194
    Deposits held in domestic offices $574,194
    Deposits by Individuals, partnerships, and corporations $476,754
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $95,950
    Deposits by Commercial banks and other depository institutions in U.S. $1,490
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $67,514
    Demand deposits $50,416
    Nontransaction accounts $506,680
    Money market deposit accounts (MMDAs) $61,405
    Other savings deposits (excluding MMDAs) $371,031
    Total time deposits $74,244
    Total time and savings deposits $523,778
    Noninterest-bearing deposits $237,912
    Interest-bearing deposits $336,282
    Retail deposits $542,804
    IRAs and Keogh plan accounts $5,929
    Brokered deposits $10,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $655,274
    Cash & Balances due from depository institutions $33,819
    Interest-bearing balances $26,700
    Total securities $210,406
    Federal funds sold & reverse repurchase $0
    Net loans and leases $374,320
    Loan and leases loss allowance $8,304
    Trading account assets $0
    Bank premises and fixed assets $21,065
    Other real estate owned $909
    Goodwill and other intangibles $1,451
    All other assets $13,304

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $655,274
    Total Liabilities $576,806
    Total deposits $574,194
    Interest-bearing deposits $336,282
    Deposits held in domestic offices $574,194
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,612

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $374,320
    Loan and leases loss allowance $8,304
    Total loans and leases (domestic) $382,624
    All real estate loans $324,527
    Real estate loans in domestic offices $324,527
    Construction and development loans $69,492
    Residential 1-4 family construction $22,712
    Other construction, all land development and other land $46,780
    Loans secured by nonfarm nonresidential properties $125,891
    Nonfarm nonresidential secured by owner-occupied properties $65,287
    Commercial real estate & other non-farm, non-residential $60,604
    Multifamily residential real estate $5,493
    1-4 family residential loans $107,803
    Farmland loans $15,848
    Loans held in foreign offices $0
    Farm loans $7,271
    Commercial and industrial loans $31,345
    To non-U.S. addressees $0
    Loans to individuals $16,240
    Credit card loans $1,339
    Related Plans $580
    Consumer Auto Loans $2,631
    Other loans to individuals $11,690
    All other loans & leases $3,383
    Loans to foreign governments and official institutions $0
    Other loans $923
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,539
    Loans secured by real estate to non-U.S. addressees $1,399
    Restructured Loans & leases $2,035
    Non 1-4 family restructured loans & leases $1,771
    Total loans and leases (foreign) $0

    DRUMMOND COMMUNITY BANK had $374,320,000 of loans outstanding in 2019. $324,527,000 of loans were in real estate loans. $69,492,000 of loans were in development loans. $5,493,000 of loans were in multifamily mortgage loans. $107,803,000 of loans were in 1-4 family mortgage loans. $7,271,000 of loans were in farm loans. $1,339,000 of loans were in credit card loans. $2,631,000 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 324 $69,545 $214,645
    Nonfarm, nonresidential loans - <$100k 83 $3,540 $42,651
    Nonfarm, nonresidential loans - $100-250k 103 $12,665 $122,961
    Nonfarm, nonresidential loans - $250k-1MM 138 $53,340 $386,522
    Commercial & Industrial, US addressed loans - <$1MM 524 $28,765 $54,895
    Commercial & Industrial, US addressed loans - <$100k 397 $8,225 $20,718
    Commercial & Industrial, US addressed loans - $100-250k 83 $8,751 $105,434
    Commercial & Industrial, US addressed loans - $250k-1MM 44 $11,789 $267,932
    Farmland loans - <$1MM 115 $12,169 $105,817
    Farmland loans - <$100k 52 $1,765 $33,942
    Farmland loans - $100-250k 47 $5,991 $127,468
    Farmland loans - $250k-1MM 16 $4,413 $275,813
    Agriculture operations loans - <$1MM 52 $3,663 $70,442
    Agriculture operations loans - <$100k 39 $975 $25,000
    Agriculture operations loans - $100-250k 8 $927 $115,875
    Agriculture operations loans - $250k-1MM 5 $1,761 $352,200