Liberty Bank Mortgage Rates, Fees & Info

Ironton, OH

LEI: 254900Q1G2KB2C5CMN65

Tax ID: 31-4234765

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Mortgage Data

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

    Liberty Bank is a smaller bank specializing in Refi loans. Liberty Bank has a high proportion of conventional loans. Their top two markets are Huntington and Portsmouth .

    Liberty 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. Liberty Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    29

    Origination Dollar Volume (All Markets)

    $3,405,000

    Employee count

    16

    Awards

    Liberty Bank 30 Year Conventional Loans silver Liberty Bank 30 Year Conventional Loans gold
    Show all (2) awards

    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
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 28 $3,360,000 $120,000 $1,793 4.98%
    Portsmouth, OH (FHA|USDA|VA) 1 $45,000 $45,000 $1,287 4.88%
    Liberty Bank's top markets include Huntington and Portsmouth among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Liberty Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Huntington Federal Savings Bank
    Similarity Rank: 12
    Liberty Bank
    Similarity Rank: 64
    The Ohio Valley Bank Company
    Similarity Rank: 126
    City National Bank of West Virginia
    Similarity Rank: 234
    DESCO
    Similarity Rank: 242
    Community Trust Bank, Inc.
    Similarity Rank: 588
    MYCUMORTGAGE, LLC
    Similarity Rank: 770
    Peoples Bank
    Similarity Rank: 826
    The First State Bank
    Similarity Rank: 893
    United Bank
    Similarity Rank: 1281

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 29 $3,405,000 $117,414 $1,771 4.97%

    For 2019, Liberty Bank's most frequently originated type of loan was Conventional, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 16 $2,150,000 $134,375 $1,526 4.86%
    Home Purchase 7 $595,000 $85,000 $1,932 4.86%
    Cash Out Refi 5 $575,000 $115,000 $1,962 5.13%
    Other 1 $85,000 $85,000 $2,135 6.88%

    For 2019, Liberty Bank's most frequently cited loan purpose was Refi, with 16 originations. The 2nd most popular reason was Home Purchase, with 7 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 20 $2,790,000 $139,500 $1,904 4.91%
    20 Year 4 $260,000 $65,000 $1,553 5.88%
    10 Year 3 $235,000 $78,333 $1,789 4.50%
    15 Year 2 $120,000 $60,000 $1,189 4.50%

    For 2019, Liberty Bank's most frequently cited loan duration was 30 Year, with 20 originations. The 2nd most popular length was 20 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $805,000 $61,923
    $1k-2k 6 $840,000 $140,000
    $2k-3k 2 $440,000 $220,000

    Liberty Bank's average total fees were $1,904, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 24 $3,030,000 $126,250
    5-6% 3 $225,000 $75,000
    6-7% 2 $150,000 $75,000

    During 2019, Liberty Bank's average interest rate for loans was 4.91%, while their most frequently originated rate bucket for loans was 4-5%, with 24 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 15 $865,000 $57,667 $1,376 5.08%
    $100k-200k 10 $1,410,000 $141,000 $2,150 4.86%
    $200k-400k 3 $645,000 $215,000 $3,209 4.88%
    $400k-600k 1 $485,000 $485,000 $0 4.88%

    2019 saw Liberty Bank place emphasis on $100,000 or less loans with 15 originations, totaling $865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 14 $1,640,000 $117,143 $1,817 4.98%
    $50k or less 9 $505,000 $56,111 $1,330 5.11%
    $100k-150k 2 $370,000 $185,000 $2,819 4.88%
    $150k-250k 2 $340,000 $170,000 $2,785 4.69%
    $250k+ 1 $485,000 $485,000 $0 4.88%
    $50k-75k 1 $65,000 $65,000 $1,191 4.50%

    Liberty Bank lent most frequently to those with incomes in the $75k-100k range, with 14 originations. The second most popular income band? $50k or less, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 9 $1,375,000 $152,778 $1,939 4.79%
    36% 7 $615,000 $87,857 $1,775 5.46%
    <20% 6 $470,000 $78,333 $1,438 4.79%
    30-36% 6 $900,000 $150,000 $2,047 4.88%
    50-60% 1 $45,000 $45,000 $1,287 4.88%

    Liberty Bank lent most frequently to those with DTI ratios of 20-30%, with 9 originations. The next most common DTI ratio? 36%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 28 $3,370,000 $120,357 $1,811 4.98%
    Black 1 $35,000 $35,000 $887 4.88%

    Approval Rates

    Total approvals of all applications
    86.49%

    Liberty Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.66%

    Liberty Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 29 $3,405,000 $117,414

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $100,000 $50,000
    Single Family (1-4 Units):Site-Built 27 $3,305,000 $122,407

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $205,000 $68,333 $1,426 4.96%
    40-60% 7 $405,000 $57,857 $1,319 5.07%
    60-80% 14 $2,090,000 $149,286 $1,824 4.96%
    80-100% 5 $705,000 $141,000 $2,323 4.88%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Liberty Finance Co., Inc. Conventional home mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Liberty Bank 314 Park Avenue Ironton, OH 45638 Full Service B&M $40,176
    Liberty Bank 347 County Road 411 Proctorville, OH 45669 Full Service B&M $2,989

    For 2019, Liberty Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,139
    Net interest income $1,934
    Total noninterest income $158
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $12
    Trading account gains and fees $0
    Additional Noninterest Income $146
    Pre-tax net operating income $285
    Securities gains (or losses, -) $0
    Income before extraordinary items $269
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $269
    Minority interest net income $0
    Net income $269
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $269

    Liberty Bank's gross interest income from loans was $2,139,000.
    Liberty Bank's net interest income from loans was $1,934,000.
    Liberty Bank's fee based income from loans was $12,000.
    Liberty Bank's net income from loans was $269,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $205
    Provision for credit losses $23
    Total noninterest expense $1,784
    Salaries and employee benefits $926
    Premises and equipment expense $233
    Additional noninterest expense $625
    Applicable income taxes $16
    Net charge-offs $19
    Cash dividends $0

    Liberty Bank's interest expense for loans was $205,000.
    Liberty Bank's payroll and benefits expense were $926,000.
    Liberty Bank's property, plant and equipment expenses $233,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 3.0%
    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 $41,591
    Deposits held in domestic offices $41,591
    Deposits by Individuals, partnerships, and corporations $40,385
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,206
    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 $15,413
    Demand deposits $9,866
    Nontransaction accounts $26,178
    Money market deposit accounts (MMDAs) $309
    Other savings deposits (excluding MMDAs) $12,305
    Total time deposits $13,564
    Total time and savings deposits $31,725
    Noninterest-bearing deposits $9,995
    Interest-bearing deposits $31,596
    Retail deposits $41,072
    IRAs and Keogh plan accounts $6,226
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $50,647
    Cash & Balances due from depository institutions $6,832
    Interest-bearing balances $6,081
    Total securities $5,455
    Federal funds sold & reverse repurchase $0
    Net loans and leases $33,485
    Loan and leases loss allowance $109
    Trading account assets $0
    Bank premises and fixed assets $1,007
    Other real estate owned $150
    Goodwill and other intangibles $0
    All other assets $3,718

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $50,647
    Total Liabilities $41,764
    Total deposits $41,591
    Interest-bearing deposits $31,596
    Deposits held in domestic offices $41,591
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $173

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $33,485
    Loan and leases loss allowance $109
    Total loans and leases (domestic) $33,594
    All real estate loans $29,466
    Real estate loans in domestic offices $29,466
    Construction and development loans $766
    Residential 1-4 family construction $517
    Other construction, all land development and other land $249
    Loans secured by nonfarm nonresidential properties $1,372
    Nonfarm nonresidential secured by owner-occupied properties $451
    Commercial real estate & other non-farm, non-residential $921
    Multifamily residential real estate $879
    1-4 family residential loans $26,449
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,459
    To non-U.S. addressees $0
    Loans to individuals $2,433
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,491
    Other loans to individuals $942
    All other loans & leases $236
    Loans to foreign governments and official institutions $0
    Other loans $236
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Liberty Bank had $33,485,000 of loans outstanding in 2019. $29,466,000 of loans were in real estate loans. $766,000 of loans were in development loans. $879,000 of loans were in multifamily mortgage loans. $26,449,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,491,000 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 9 $1,111 $123,444
    Nonfarm, nonresidential loans - <$100k 3 $124 $41,333
    Nonfarm, nonresidential loans - $100-250k 6 $987 $164,500
    Commercial & Industrial, US addressed loans - <$1MM 28 $1,458 $52,071
    Commercial & Industrial, US addressed loans - <$100k 14 $315 $22,500
    Commercial & Industrial, US addressed loans - $100-250k 10 $369 $36,900
    Commercial & Industrial, US addressed loans - $250k-1MM 4 $774 $193,500