Independence Bank Of Kentucky Mortgage Rates, Fees & Info

Owensboro, KY

LEI: 5493002N5OA6GM61AC70

Tax ID: 61-0189240

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

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  • SimulatedRates™
  • Mortgage Calculator

    • 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

    Independence Bank Of Kentucky is a smaller bank specializing in Refi and Home Purchase loans. Independence Bank Of Kentucky has a high proportion of conventional loans. Their top markets by origination volume include: Owensboro, Paducah, Evansville, Bowling Green, and Madisonville among others. We have data for 32 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Independence Bank Of Kentucky 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. Independence Bank Of Kentucky 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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/16/24
    30 Year Conventional Purchase 6.70% 12/16/24
    30 Year Conventional Refi 6.81% 12/16/24
    30 Year Cash-out Refi 7.06% 12/16/24
    30 Year FHA Purchase 6.27% 12/16/24
    30 Year FHA Refi 6.27% 12/16/24
    30 Year USDA Purchase 6.27% 12/16/24
    15 Year Conventional Purchase 6.10% 12/16/24
    15 Year Conventional Refi 6.25% 12/16/24
    15 Year Cash-out Refi 6.25% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Independence Bank Of Kentucky Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Independence Bank Of Kentucky. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,959

    Origination Dollar Volume (All Markets)

    $338,755,000

    Employee count

    414 Show all (8) 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
    OWENSBORO, KY (FHA|USDA|VA) 513 $75,505,000 $147,183 $2,365 3.48%
    Outside of Metro Areas 227 $56,315,000 $248,084 $2,569 3.56%
    Paducah, KY-IL (FHA|USDA|VA) 208 $44,850,000 $215,625 $2,197 3.51%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 269 $32,835,000 $122,063 $2,419 3.43%
    BOWLING GREEN, KY (FHA|USDA|VA) 187 $32,635,000 $174,519 $2,243 3.56%
    Madisonville, KY (FHA|USDA|VA) 199 $29,795,000 $149,724 $2,809 3.46%
    LOUISVILLE, KY (FHA|USDA|VA) 72 $16,750,000 $232,639 $2,917 3.46%
    Frankfort, KY (FHA|USDA|VA) 73 $9,765,000 $133,767 $3,035 3.50%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 32 $9,160,000 $286,250 $2,627 3.76%
    Mayfield, KY (FHA|USDA|VA) 67 $8,985,000 $134,104 $2,243 3.52%
    Murray, KY (FHA|USDA|VA) 48 $6,420,000 $133,750 $2,347 3.47%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 11 $4,965,000 $451,364 $3,853 3.62%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 10 $1,520,000 $152,000 $2,270 3.36%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 5 $1,395,000 $279,000 $5,462 3.73%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $865,000 $288,333 $3,304 3.33%
    PANAMA CITY, FL (FHA|USDA|VA) 3 $865,000 $288,333 $0 3.88%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 5 $795,000 $159,000 $0 4.00%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $755,000 $755,000 $0 3.55%
    Central City, KY (FHA|USDA|VA) 6 $720,000 $120,000 $2,772 3.45%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $650,000 $325,000 $5,691 3.31%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $470,000 $235,000 $3,760 2.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $425,000 $425,000 $0 4.10%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $405,000 $405,000 $4,315 3.25%
    Glasgow, KY (FHA|USDA|VA) 4 $380,000 $95,000 $1,701 3.59%
    Paris, TN (FHA|USDA|VA) 3 $375,000 $125,000 $2,822 3.58%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $325,000 $325,000 $3,034 3.38%
    Cullowhee, NC (FHA|USDA|VA) 1 $225,000 $225,000 $3,813 2.88%
    Somerset, KY (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.00%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,615 3.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $125,000 $125,000 $1,654 3.38%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $125,000 $125,000 $3,494 2.50%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.00%
    Independence Bank Of Kentucky's top markets include Owensboro, Paducah, Evansville, Bowling Green, and Madisonville among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    EVANSVILLE
    Similarity Rank: 28
    SERVICE ONE
    Similarity Rank: 132
    Morgantown Bank & Trust Company, Incorporated
    Similarity Rank: 190
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 204
    First Federal Savings Bank
    Similarity Rank: 252
    Edmonton State Bank
    Similarity Rank: 279
    Community Mortgage Banc Corporation
    Similarity Rank: 280
    Heritage Federal Credit Union
    Similarity Rank: 280
    United Fidelity Bank, fsb
    Similarity Rank: 340
    The Monticello Banking Company
    Similarity Rank: 665

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,462 $269,820,000 $184,555 $2,492 3.33%
    HELOC 497 $68,935,000 $138,702 n/a 4.00%

    For 2021, Independence Bank Of Kentucky's most frequently originated type of loan was Conventional, with 1,462 originations. Their 2nd most popular type was HELOC, with 497 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 638 $139,970,000 $219,389 $2,325 3.29%
    Home Purchase 616 $120,250,000 $195,211 $2,667 3.61%
    Other 316 $24,040,000 $76,076 $1,285 4.00%
    Cash Out Refi 298 $48,230,000 $161,846 $2,517 3.00%
    Home Improvement 91 $6,265,000 $68,846 $2,412 4.05%

    For 2021, Independence Bank Of Kentucky's most frequently cited loan purpose was Refi, with 638 originations. The 2nd most popular reason was Home Purchase, with 616 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 815 $86,975,000 $106,718 $2,499 3.48%
    30 Year 529 $105,775,000 $199,953 $2,595 3.31%
    5 Year 253 $48,445,000 $191,482 $1,512 3.95%
    20 Year 119 $17,775,000 $149,370 $2,392 3.26%
    10 Year 118 $26,070,000 $220,932 $2,072 3.27%
    Other 65 $42,355,000 $651,615 $2,117 3.76%
    1 Year 59 $10,095,000 $171,102 $2,283 4.17%
    3 Year 1 $1,265,000 $1,265,000 $0 3.25%

    For 2021, Independence Bank Of Kentucky's most frequently cited loan duration was 15 Year, with 815 originations. The 2nd most popular length was 30 Year, with 529 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 719 $123,155,000 $171,287
    $1k-2k 229 $34,705,000 $151,550
    $2k-3k 80 $17,250,000 $215,625
    $3k-4k 25 $8,555,000 $342,200
    $4k-5k 7 $3,415,000 $487,857
    $5k+ 1 $525,000 $525,000

    Independence Bank Of Kentucky's average total fees were $2,595, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 719 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,143 $211,615,000 $185,140
    2.5-3% 364 $66,520,000 $182,747
    <2.5% 230 $34,280,000 $149,043
    4-5% 216 $26,150,000 $121,065
    5-6% 6 $190,000 $31,667

    During 2021, Independence Bank Of Kentucky's average interest rate for loans was 3.31%, while their most frequently originated rate bucket for loans was 3-4%, with 1,143 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 782 $43,520,000 $55,652 $1,986 3.71%
    $100k-200k 712 $101,250,000 $142,205 $2,451 3.37%
    $200k-400k 388 $101,240,000 $260,928 $2,783 3.33%
    $400k-600k 53 $25,465,000 $480,472 $3,591 3.23%
    $1MM+ 16 $61,000,000 $3,812,500 $6,120 3.68%
    $600k-1MM 8 $6,280,000 $785,000 $5,252 3.79%

    2021 saw Independence Bank Of Kentucky place emphasis on $100,000 or less loans with 782 originations, totaling $43,520,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 393 $47,435,000 $120,700 $2,473 3.38%
    $50k or less 356 $30,810,000 $86,545 $2,197 3.43%
    $100k-150k 353 $56,205,000 $159,221 $2,711 3.48%
    $75k-100k 299 $41,585,000 $139,080 $2,492 3.46%
    $150k-250k 156 $29,610,000 $189,808 $3,158 3.60%
    $250k+ 99 $29,445,000 $297,424 $3,396 3.50%

    Independence Bank Of Kentucky lent most frequently to those with incomes in the $50k-75k range, with 393 originations. The second most popular income band? $50k or less, with 356 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 487 $68,825,000 $141,324 $2,558 3.37%
    <20% 369 $44,735,000 $121,233 $2,365 3.58%
    30-36% 293 $42,225,000 $144,113 $2,515 3.33%
    38% 49 $7,435,000 $151,735 $2,530 3.28%
    37% 46 $8,480,000 $184,348 $2,589 3.15%
    42% 43 $7,375,000 $171,512 $2,513 3.21%
    36% 40 $5,550,000 $138,750 $2,467 3.24%
    39% 38 $5,620,000 $147,895 $2,688 3.22%
    40% 36 $5,690,000 $158,056 $2,585 3.21%
    45% 28 $4,980,000 $177,857 $2,256 3.21%
    43% 27 $5,645,000 $209,074 $2,486 3.33%
    41% 26 $5,540,000 $213,077 $2,715 3.28%
    44% 24 $4,250,000 $177,083 $2,236 3.32%
    46% 15 $2,505,000 $167,000 $2,597 3.11%
    48% 13 $2,235,000 $171,923 $2,236 3.03%
    47% 12 $1,780,000 $148,333 $2,091 3.05%
    50-60% 11 $1,685,000 $153,182 $2,147 3.46%
    49% 9 $1,415,000 $157,222 $1,949 3.07%
    >60% 3 $545,000 $181,667 $2,089 3.54%

    Independence Bank Of Kentucky lent most frequently to those with DTI ratios of 20-30%, with 487 originations. The next most common DTI ratio? <20%, with 369 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,657 $237,675,000 $143,437 $2,484 3.44%
    Not applicable 242 $93,330,000 $385,661 $0 3.95%
    Not provided 33 $4,885,000 $148,030 $2,861 3.12%
    Black 17 $1,715,000 $100,882 $2,161 3.60%
    Asian 6 $720,000 $120,000 $2,152 3.39%
    American Indian 3 $325,000 $108,333 $2,604 3.50%
    Vietnamese 1 $105,000 $105,000 $0 4.00%

    Approval Rates

    Total approvals of all applications
    89.67%

    Independence Bank Of Kentucky has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.92%

    Independence Bank Of Kentucky has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,959 $338,755,000 $172,922

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    1,959 $338,755,000 $172,922

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 284 $47,890,000 $168,627 $2,203 3.63%
    40-60% 371 $57,015,000 $153,679 $2,325 3.21%
    60-80% 690 $148,260,000 $214,870 $2,561 3.39%
    80-100% 391 $75,085,000 $192,033 $2,664 3.60%
    Under 20% 221 $10,365,000 $46,900 $1,829 3.97%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    INDEPENDENT BANK CORP. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 2 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Independence Bank of Kentucky 100 East College Street Mayfield, KY 42066 Full Service B&M $58,153
    Independence Bank of Kentucky 1100 Barrett Boulevard Henderson, KY 42420 Full Service B&M $29,686
    Independence Bank of Kentucky 1228 Us-127 South Frankfort, KY 40601 Full Service B&M $17,023
    Independence Bank of Kentucky 1776 North Main Street Madisonville, KY 42431 Full Service B&M $109,139
    Independence Bank of Kentucky 1950 Scottsville Road Bowling Green, KY 42104 Full Service B&M $205,615
    Independence Bank of Kentucky 211 U.S. Highway 41-A South Providence, KY 42450 Full Service B&M $71,676
    Independence Bank of Kentucky 225 U.S. Highway 60 East Hawesville, KY 42348 Full Service B&M $46,277
    Independence Bank of Kentucky 2415 Nashville Rd Bowling Green, KY 42101 Full Service B&M $27,063
    Independence Bank of Kentucky 2425 Frederica Street Owensboro, KY 42301 Full Service B&M $894,173
    Independence Bank of Kentucky 2465 Parrish Avenue Owensboro, KY 42301 Full Service B&M $77,579
    Independence Bank of Kentucky 2610 Zion Road Henderson, KY 42420 Full Service B&M $34,359
    Independence Bank of Kentucky 2711 New Holt Road Paducah, KY 42001 Full Service B&M $33,055
    Independence Bank of Kentucky 308 U.S. Highway 41 Sebree, KY 42455 Full Service B&M $62,788
    Independence Bank of Kentucky 3143 Broadway Street Paducah, KY 42001 Full Service B&M $156,523
    Independence Bank of Kentucky 3228 Highway 54 Owensboro, KY 42303 Full Service B&M $80,647
    Independence Bank of Kentucky 3312 Lone Oak Road Paducah, KY 42003 Full Service B&M $20,358
    Independence Bank of Kentucky 3901 Shelbyville Road Louisville, KY 40207 Full Service B&M $185,837
    Independence Bank of Kentucky 450 Versailles Road Frankfort, KY 40601 Full Service B&M $73,603
    Independence Bank of Kentucky 507 North 12th Street Murray, KY 42071 Full Service B&M $54,545
    Independence Bank of Kentucky 614 Henton Street Livermore, KY 42352 Full Service B&M $67,731
    Independence Bank of Kentucky 629 East Center Street Madisonville, KY 42431 Full Service B&M $11,726
    Independence Bank of Kentucky 721 South 12th Street Murray, KY 42071 Full Service B&M $9,000
    Independence Bank of Kentucky 76 South Green Street Henderson, KY 42420 Full Service B&M $249,549
    Independence Bank of Kentucky 8523 U.S. Highway 60 West Lewisport, KY 42351 Full Service B&M $18,809
    Independence Bank of Kentucky 877 Fairview Avenue Bowling Green, KY 42101 Full Service B&M $42,252

    For 2021, Independence Bank Of Kentucky had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $111,297
    Net interest income $100,343
    Total noninterest income $17,538
    Gross Fiduciary activities income $4,876
    Service charges on deposit accounts $1,275
    Trading account gains and fees $0
    Additional Noninterest Income $11,387
    Pre-tax net operating income $53,240
    Securities gains (or losses, -) $0
    Income before extraordinary items $53,240
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $53,240
    Minority interest net income $0
    Net income $53,240
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $53,240

    Independence Bank Of Kentucky's gross interest income from loans was $111,297,000.
    Independence Bank Of Kentucky's net interest income from loans was $100,343,000.
    Independence Bank Of Kentucky's fee based income from loans was $1,275,000.
    Independence Bank Of Kentucky's net income from loans was $53,240,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,954
    Provision for credit losses $1,250
    Total noninterest expense $63,391
    Salaries and employee benefits $37,720
    Premises and equipment expense $7,241
    Additional noninterest expense $18,430
    Applicable income taxes $0
    Net charge-offs $204
    Cash dividends $35,148

    Independence Bank Of Kentucky's interest expense for loans was $10,954,000.
    Independence Bank Of Kentucky's payroll and benefits expense were $37,720,000.
    Independence Bank Of Kentucky's property, plant and equipment expenses $7,241,000.

    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 $2,829,109
    Deposits held in domestic offices $2,829,109
    Deposits by Individuals, partnerships, and corporations $2,027,918
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $799,542
    Deposits by Commercial banks and other depository institutions in U.S. $1,649
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $379,858
    Demand deposits $320,906
    Nontransaction accounts $2,449,251
    Money market deposit accounts (MMDAs) $494,156
    Other savings deposits (excluding MMDAs) $1,719,842
    Total time deposits $235,253
    Total time and savings deposits $2,508,203
    Noninterest-bearing deposits $450,935
    Interest-bearing deposits $2,378,174
    Retail deposits $2,704,906
    IRAs and Keogh plan accounts $26,759
    Brokered deposits $92,539
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,237,305
    Cash & Balances due from depository institutions $191,293
    Interest-bearing balances $175,070
    Total securities $1,384,371
    Federal funds sold & reverse repurchase $10,520
    Net loans and leases $1,529,000
    Loan and leases loss allowance $17,818
    Trading account assets $0
    Bank premises and fixed assets $83,034
    Other real estate owned $640
    Goodwill and other intangibles $3,194
    All other assets $35,253

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,237,305
    Total Liabilities $2,982,874
    Total deposits $2,829,109
    Interest-bearing deposits $2,378,174
    Deposits held in domestic offices $2,829,109
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $150,202
    Subordinated debt $0
    All other liabilities $3,563

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,529,000
    Loan and leases loss allowance $17,818
    Total loans and leases (domestic) $1,546,818
    All real estate loans $1,325,349
    Real estate loans in domestic offices $1,325,349
    Construction and development loans $78,142
    Residential 1-4 family construction $26,681
    Other construction, all land development and other land $51,461
    Loans secured by nonfarm nonresidential properties $450,488
    Nonfarm nonresidential secured by owner-occupied properties $294,396
    Commercial real estate & other non-farm, non-residential $156,092
    Multifamily residential real estate $62,713
    1-4 family residential loans $527,627
    Farmland loans $206,379
    Loans held in foreign offices $0
    Farm loans $116,005
    Commercial and industrial loans $90,257
    To non-U.S. addressees $0
    Loans to individuals $5,897
    Credit card loans $0
    Related Plans $88
    Consumer Auto Loans $2,470
    Other loans to individuals $3,339
    All other loans & leases $9,310
    Loans to foreign governments and official institutions $0
    Other loans $8,547
    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

    Independence Bank of Kentucky had $1,529,000,000 of loans outstanding in 2021. $1,325,349,000 of loans were in real estate loans. $78,142,000 of loans were in development loans. $62,713,000 of loans were in multifamily mortgage loans. $527,627,000 of loans were in 1-4 family mortgage loans. $116,005,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,470,000 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 747 $132,165 $176,928
    Nonfarm, nonresidential loans - <$100k 195 $7,705 $39,513
    Nonfarm, nonresidential loans - $100-250k 285 $33,184 $116,435
    Nonfarm, nonresidential loans - $250k-1MM 267 $91,276 $341,858
    Commercial & Industrial, US addressed loans - <$1MM 1,178 $57,007 $48,393
    Commercial & Industrial, US addressed loans - <$100k 872 $17,756 $20,362
    Commercial & Industrial, US addressed loans - $100-250k 182 $17,020 $93,516
    Commercial & Industrial, US addressed loans - $250k-1MM 124 $22,231 $179,282
    Farmland loans - <$1MM 721 $82,891 $114,967
    Farmland loans - <$100k 272 $10,527 $38,702
    Farmland loans - $100-250k 289 $31,534 $109,114
    Farmland loans - $250k-1MM 160 $40,830 $255,188
    Agriculture operations loans - <$1MM 610 $30,754 $50,416
    Agriculture operations loans - <$100k 450 $10,180 $22,622
    Agriculture operations loans - $100-250k 100 $8,806 $88,060
    Agriculture operations loans - $250k-1MM 60 $11,768 $196,133