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 loans. Drummond Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Punta Gorda, North Port, Gainesville, Lake City, and Ocala among others. We have data for 14 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.

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Originations

242

Origination Dollar Volume (All Markets)

$62,120,000

Employee count

192

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)	46	$15,100,000	$328,261	$0	0.00%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	43	$14,375,000	$334,302	$0	0.00%
GAINESVILLE, FL (FHA\|USDA\|VA)	63	$11,185,000	$177,540	$0	0.00%
Lake City, FL (FHA\|USDA\|VA)	31	$7,305,000	$235,645	$0	0.00%
OCALA, FL (FHA\|USDA\|VA)	13	$4,235,000	$325,769	$0	0.00%
Outside of Metro Areas	21	$3,645,000	$173,571	$0	0.00%
HOMOSASSA SPRINGS, FL (FHA\|USDA\|VA)	10	$1,570,000	$157,000	$0	0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	5	$1,445,000	$289,000	$0	0.00%
JACKSONVILLE, FL (FHA\|USDA\|VA)	2	$1,120,000	$560,000	$0	0.00%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	4	$710,000	$177,500	$0	0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA\|USDA\|VA)	1	$505,000	$505,000	$0	0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$385,000	$385,000	$0	0.00%
THE VILLAGES, FL (FHA\|USDA\|VA)	1	$315,000	$315,000	$0	0.00%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$0	0.00%

Drummond Community Bank's top markets include Punta Gorda, North Port, Gainesville, Lake City, and Ocala among others.

Their top states include:

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	242	$62,120,000	$256,694	$0	0.00%

For 2020, Drummond Community Bank's most frequently originated type of loan was Conventional, with 242 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	197	$54,295,000	$275,609	$0	0.00%
Refi	26	$4,210,000	$161,923	$0	0.00%
Cash Out Refi	15	$3,025,000	$201,667	$0	0.00%
Home Improvement	2	$190,000	$95,000	$0	0.00%
Other	2	$400,000	$200,000	$0	0.00%

For 2020, Drummond Community Bank's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Refi, with 26 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	242	$62,120,000	$256,694	$0	0.00%

For 2020, Drummond Community Bank's most frequently cited loan duration was Other, with 242 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	106	$30,600,000	$288,679	$0	0.00%
$100k-200k	60	$9,020,000	$150,333	$0	0.00%
$100,000 or less	40	$2,470,000	$61,750	$0	0.00%
$400k-600k	28	$13,100,000	$467,857	$0	0.00%
$600k-1MM	5	$3,455,000	$691,000	$0	0.00%
$1MM+	3	$3,475,000	$1,158,333	$0	0.00%

2020 saw Drummond Community Bank place emphasis on $200k-400k loans with 106 originations, totaling $30,600,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	59	$15,835,000	$268,390	$0	0.00%
$75k-100k	45	$11,235,000	$249,667	$0	0.00%
$150k-250k	42	$14,930,000	$355,476	$0	0.00%
$50k-75k	38	$7,150,000	$188,158	$0	0.00%
$50k or less	23	$2,955,000	$128,478	$0	0.00%
$250k+	14	$6,260,000	$447,143	$0	0.00%

Drummond Community Bank lent most frequently to those with incomes in the $100k-150k range, with 59 originations. The second most popular income band? $75k-100k, with 45 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	242	$62,120,000	$256,694	$0	0.00%

Drummond Community Bank lent most frequently to those with DTI ratios of Exempt%, with 242 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	213	$55,035,000	$258,380	$0	0.00%
Not applicable	20	$3,540,000	$177,000	$0	0.00%
Black	6	$1,810,000	$301,667	$0	0.00%
Asian	1	$1,055,000	$1,055,000	$0	0.00%
Not provided	2	$680,000	$340,000	$0	0.00%

Approval Rates

Total approvals of all applications
90.12%

Drummond Community Bank has an average approval rate.

Pick Rate

Approvals leading to origination
72.31%

Drummond Community Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	242	$62,120,000	$256,694

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	1	$385,000	$385,000
Single Family (1-4 Units):Manufactured	23	$2,825,000	$122,826
Single Family (1-4 Units):Site-Built	218	$58,910,000	$270,229

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Drummond Community Bank	01160 N. Suncoast Blvd Crystal River, FL 34429	Full Service B&M	$32,348
Drummond Community Bank	104 Ne 351 Hwy Cross City, FL 32628	Full Service B&M	$33,214
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	$18,305
Drummond Community Bank	1502 East Wade Street Trenton, FL 32693	Full Service B&M	$36,141
Drummond Community Bank	1627 North Young Boulevard Chiefland, FL 32626	Full Service B&M	$132,332
Drummond Community Bank	16449 Sw Archer Road Archer, FL 32618	Full Service B&M	$6,328
Drummond Community Bank	2455 North Citrus Hills Boulevard Hernando, FL 34442	Full Service B&M	$32,641
Drummond Community Bank	2811 Sw 27th Ave Ocala, FL 34471	Full Service B&M	$31,087
Drummond Community Bank	331 E Hathaway Ave Bronson, FL 32621	Full Service B&M	$30,999
Drummond Community Bank	342 East Noble Avenue Williston, FL 32696	Full Service B&M	$135,706
Drummond Community Bank	3436 W University Ave Gainesville, FL 32607	Full Service B&M	$33,104
Drummond Community Bank	345 West Highway 40 Inglis, FL 34449	Full Service B&M	$11,924
Drummond Community Bank	350 Sw Main Boulevard Lake City, FL 32025	Full Service B&M	$42,523
Drummond Community Bank	3882 West Us Highway 90 Lake City, FL 32055	Full Service B&M	$19,012
Drummond Community Bank	7060 C Street Cedar Key, FL 32625	Full Service B&M	$53,155
Drummond Community Bank	7075 Us Highway 27 Fort White, FL 32038	Full Service B&M	$4,191
Drummond Community Bank	North Highway 19 And 349 Old Town, FL 32680	Full Service B&M	$29,021

For 2020, Drummond Community Bank had 18 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$32,824
Net interest income	$31,662
Total noninterest income	$7,812
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,801
Trading account gains and fees	$0
Additional Noninterest Income	$5,011
Pre-tax net operating income	$14,153
Securities gains (or losses, -)	$2
Income before extraordinary items	$11,305
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$11,305
Minority interest net income	$0
Net income	$11,305
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$11,303

Drummond Community Bank's gross interest income from loans was $32,824,000.
Drummond Community Bank's net interest income from loans was $31,662,000.
Drummond Community Bank's fee based income from loans was $2,801,000.
Drummond Community Bank's net income from loans was $11,305,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,162
Provision for credit losses	$922
Total noninterest expense	$24,399
Salaries and employee benefits	$12,187
Premises and equipment expense	$4,378
Additional noninterest expense	$7,834
Applicable income taxes	$2,850
Net charge-offs	$466
Cash dividends	$500

Drummond Community Bank's interest expense for loans was $1,162,000.
Drummond Community Bank's payroll and benefits expense were $12,187,000.
Drummond Community Bank's property, plant and equipment expenses $4,378,000.

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	$736,341
Deposits held in domestic offices	$736,341
Deposits by Individuals, partnerships, and corporations	$638,746
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$97,595
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	$97,937
Demand deposits	$78,790
Nontransaction accounts	$638,404
Money market deposit accounts (MMDAs)	$75,655
Other savings deposits (excluding MMDAs)	$499,845
Total time deposits	$62,904
Total time and savings deposits	$657,551
Noninterest-bearing deposits	$364,012
Interest-bearing deposits	$372,329
Retail deposits	$711,343
IRAs and Keogh plan accounts	$5,146
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$838,524
Cash & Balances due from depository institutions	$58,685
Interest-bearing balances	$46,224
Total securities	$280,561
Federal funds sold & reverse repurchase	$0
Net loans and leases	$458,776
Loan and leases loss allowance	$8,760
Trading account assets	$0
Bank premises and fixed assets	$20,284
Other real estate owned	$275
Goodwill and other intangibles	$1,160
All other assets	$18,783

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$838,524
Total Liabilities	$741,448
Total deposits	$736,341
Interest-bearing deposits	$372,329
Deposits held in domestic offices	$736,341
% insured (estimated)	$69
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$5,107

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$458,776
Loan and leases loss allowance	$8,760
Total loans and leases (domestic)	$467,536
All real estate loans	$338,783
Real estate loans in domestic offices	$338,783
Construction and development loans	$71,930
Residential 1-4 family construction	$23,202
Other construction, all land development and other land	$48,728
Loans secured by nonfarm nonresidential properties	$136,406
Nonfarm nonresidential secured by owner-occupied properties	$76,152
Commercial real estate & other non-farm, non-residential	$60,254
Multifamily residential real estate	$5,156
1-4 family residential loans	$107,171
Farmland loans	$18,120
Loans held in foreign offices	$0
Farm loans	$8,125
Commercial and industrial loans	$94,226
To non-U.S. addressees	$0
Loans to individuals	$24,157
Credit card loans	$1,460
Related Plans	$397
Consumer Auto Loans	$2,401
Other loans to individuals	$19,899
All other loans & leases	$2,486
Loans to foreign governments and official institutions	$0
Other loans	$396
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$1,555
Loans secured by real estate to non-U.S. addressees	$1,291
Restructured Loans & leases	$745
Non 1-4 family restructured loans & leases	$483
Total loans and leases (foreign)	$0

DRUMMOND COMMUNITY BANK had $458,776,000 of loans outstanding in 2020. $338,783,000 of loans were in real estate loans. $71,930,000 of loans were in development loans. $5,156,000 of loans were in multifamily mortgage loans. $107,171,000 of loans were in 1-4 family mortgage loans. $8,125,000 of loans were in farm loans. $1,460,000 of loans were in credit card loans. $2,401,000 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	313	$68,685	$219,441
Nonfarm, nonresidential loans - <$100k	70	$2,857	$40,814
Nonfarm, nonresidential loans - $100-250k	100	$12,498	$124,980
Nonfarm, nonresidential loans - $250k-1MM	143	$53,330	$372,937
Commercial & Industrial, US addressed loans - <$1MM	1,840	$84,312	$45,822
Commercial & Industrial, US addressed loans - <$100k	1,593	$39,748	$24,952
Commercial & Industrial, US addressed loans - $100-250k	172	$20,001	$116,285
Commercial & Industrial, US addressed loans - $250k-1MM	75	$24,563	$327,507
Farmland loans - <$1MM	106	$11,402	$107,566
Farmland loans - <$100k	43	$1,321	$30,721
Farmland loans - $100-250k	45	$5,012	$111,378
Farmland loans - $250k-1MM	18	$5,069	$281,611
Agriculture operations loans - <$1MM	41	$2,262	$55,171
Agriculture operations loans - <$100k	29	$618	$21,310
Agriculture operations loans - $100-250k	7	$392	$56,000
Agriculture operations loans - $250k-1MM	5	$1,252	$250,400