Liberty Bank Mortgage Rates, Fees & Info

Ironton, OH

LEI: 254900Q1G2KB2C5CMN65

Tax ID: 31-4234765

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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 Home Purchase and Refi loans. Liberty Bank has a high proportion of conventional loans. Their top two markets are Huntington and Portsmouth .

    Liberty 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. 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    24

    Origination Dollar Volume (All Markets)

    $2,340,000

    Employee count

    16

    Awards

    Liberty Bank 30 Year Conventional Loans gold 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) 22 $2,220,000 $100,909 $1,400 5.34%
    Portsmouth, OH (FHA|USDA|VA) 2 $120,000 $60,000 $1,509 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.

    Liberty Bank
    Similarity Rank: 68
    Community Trust Bank, Inc.
    Similarity Rank: 402
    The Ohio Valley Bank Company
    Similarity Rank: 420
    DESCO
    Similarity Rank: 525
    ASHLAND Credit Union
    Similarity Rank: 897
    Summit Community Bank, Inc.
    Similarity Rank: 946
    Peoples Bank
    Similarity Rank: 1102
    City National Bank of West Virginia
    Similarity Rank: 1240
    United Bank
    Similarity Rank: 1530
    AMERICAN MORTGAGE SERVICE COMPANY
    Similarity Rank: 1586

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 24 $2,340,000 $97,500 $1,409 5.30%

    For 2020, Liberty Bank's most frequently originated type of loan was Conventional, with 24 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 14 $970,000 $69,286 $1,553 5.30%
    Refi 8 $1,050,000 $131,250 $1,222 5.41%
    Cash Out Refi 2 $320,000 $160,000 $1,059 4.88%

    For 2020, Liberty Bank's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 15 $1,915,000 $127,667 $1,532 4.89%
    20 Year 6 $370,000 $61,667 $1,513 6.21%
    Other 2 $30,000 $15,000 $497 5.88%
    10 Year 1 $25,000 $25,000 $884 4.88%

    For 2020, Liberty Bank's most frequently cited loan duration was 30 Year, with 15 originations. The 2nd most popular length was 20 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 18 $1,220,000 $67,778
    $1k-2k 3 $505,000 $168,333

    Liberty Bank's average total fees were $1,532, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 18 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 18 $2,000,000 $111,111
    6-7% 5 $225,000 $45,000
    5-6% 1 $115,000 $115,000

    During 2020, Liberty Bank's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 4-5%, with 18 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 17 $865,000 $50,882 $1,288 5.46%
    $100k-200k 5 $745,000 $149,000 $1,946 4.93%
    $200k-400k 1 $255,000 $255,000 $790 4.88%
    $400k-600k 1 $475,000 $475,000 $0 4.88%

    2020 saw Liberty Bank place emphasis on $100,000 or less loans with 17 originations, totaling $865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 10 $530,000 $53,000 $1,075 5.08%
    $75k-100k 6 $740,000 $123,333 $1,642 5.58%
    $50k-75k 5 $325,000 $65,000 $1,411 5.28%
    $250k+ 2 $550,000 $275,000 $1,612 5.88%
    $100k-150k 1 $195,000 $195,000 $3,134 4.88%

    Liberty Bank lent most frequently to those with incomes in the $50k or less range, with 10 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 9 $1,145,000 $127,222 $1,749 5.10%
    <20% 7 $335,000 $47,857 $1,314 5.73%
    20-30% 6 $710,000 $118,333 $919 5.25%
    36% 2 $150,000 $75,000 $1,437 4.88%

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

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 23 $2,275,000 $98,913 $1,410 5.32%
    Asian 1 $65,000 $65,000 $1,395 4.88%

    Approval Rates

    Total approvals of all applications
    96.43%

    Liberty Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.50%

    Liberty Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 24 $2,340,000 $97,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $120,000 $60,000
    Single Family (1-4 Units):Site-Built 22 $2,220,000 $100,909

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $115,000 $23,000 $953 6.08%
    40-60% 4 $300,000 $75,000 $1,301 5.44%
    60-80% 15 $1,925,000 $128,333 $1,603 5.01%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Liberty Bank 314 Park Avenue Ironton, OH 45638 Full Service B&M $43,040
    Liberty Bank 347 County Road 411 Proctorville, OH 45669 Full Service B&M $2,900

    For 2020, Liberty Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $1,893
    Net interest income $1,701
    Total noninterest income $147
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $10
    Trading account gains and fees $0
    Additional Noninterest Income $137
    Pre-tax net operating income $116
    Securities gains (or losses, -) $0
    Income before extraordinary items $133
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $133
    Minority interest net income $0
    Net income $133
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $133

    Liberty Bank's gross interest income from loans was $1,893,000.
    Liberty Bank's net interest income from loans was $1,701,000.
    Liberty Bank's fee based income from loans was $10,000.
    Liberty Bank's net income from loans was $133,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $192
    Provision for credit losses $0
    Total noninterest expense $1,732
    Salaries and employee benefits $912
    Premises and equipment expense $250
    Additional noninterest expense $570
    Applicable income taxes $-17
    Net charge-offs $19
    Cash dividends $0

    Liberty Bank's interest expense for loans was $192,000.
    Liberty Bank's payroll and benefits expense were $912,000.
    Liberty Bank's property, plant and equipment expenses $250,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    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 0.0%
    All other family 2.0%
    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 $48,090
    Deposits held in domestic offices $48,090
    Deposits by Individuals, partnerships, and corporations $46,795
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,295
    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 $18,939
    Demand deposits $13,181
    Nontransaction accounts $29,151
    Money market deposit accounts (MMDAs) $501
    Other savings deposits (excluding MMDAs) $14,900
    Total time deposits $13,750
    Total time and savings deposits $34,909
    Noninterest-bearing deposits $12,693
    Interest-bearing deposits $35,397
    Retail deposits $46,977
    IRAs and Keogh plan accounts $6,872
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $57,330
    Cash & Balances due from depository institutions $16,222
    Interest-bearing balances $15,122
    Total securities $4,597
    Federal funds sold & reverse repurchase $0
    Net loans and leases $31,592
    Loan and leases loss allowance $90
    Trading account assets $0
    Bank premises and fixed assets $961
    Other real estate owned $175
    Goodwill and other intangibles $0
    All other assets $3,783

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $57,330
    Total Liabilities $48,252
    Total deposits $48,090
    Interest-bearing deposits $35,397
    Deposits held in domestic offices $48,090
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $162

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $31,592
    Loan and leases loss allowance $90
    Total loans and leases (domestic) $31,682
    All real estate loans $27,928
    Real estate loans in domestic offices $27,928
    Construction and development loans $511
    Residential 1-4 family construction $267
    Other construction, all land development and other land $244
    Loans secured by nonfarm nonresidential properties $1,449
    Nonfarm nonresidential secured by owner-occupied properties $367
    Commercial real estate & other non-farm, non-residential $1,082
    Multifamily residential real estate $834
    1-4 family residential loans $25,134
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,505
    To non-U.S. addressees $0
    Loans to individuals $2,192
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,268
    Other loans to individuals $924
    All other loans & leases $57
    Loans to foreign governments and official institutions $0
    Other loans $57
    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 $31,592,000 of loans outstanding in 2020. $27,928,000 of loans were in real estate loans. $511,000 of loans were in development loans. $834,000 of loans were in multifamily mortgage loans. $25,134,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,268,000 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 11 $1,269 $115,364
    Nonfarm, nonresidential loans - <$100k 4 $185 $46,250
    Nonfarm, nonresidential loans - $100-250k 7 $1,084 $154,857
    Commercial & Industrial, US addressed loans - <$1MM 34 $1,505 $44,265
    Commercial & Industrial, US addressed loans - <$100k 20 $280 $14,000
    Commercial & Industrial, US addressed loans - $100-250k 11 $517 $47,000
    Commercial & Industrial, US addressed loans - $250k-1MM 3 $708 $236,000