Armed Forces Bank Mortgage Rates, Fees & Info
Kansas City, MOLEI: 5493007CLWQN2S6IZK91
Tax ID: 48-0124710
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Bank Data
Review & Overview
Armed Forces Bank is a smaller bank specializing in Refi and Home Purchase loans. Armed Forces Bank has an average proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Colorado Springs, Kansas City, Las Vegas, Seattle, and Washington among others. We have data for 142 markets. (Some data included below & more in-depth data is available with an active subscription.)Armed Forces 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. Armed Forces 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.52% | 4/22/24 |
| 30 Year Conventional Refi | 6.30% | 4/22/24 |
| 30 Year Cash-out Refi | 6.54% | 4/22/24 |
| 30 Year FHA Purchase | 6.96% | 4/22/24 |
| 30 Year FHA Refi | 6.40% | 4/22/24 |
| 30 Year VA Purchase | 5.69% | 4/22/24 |
| 30 Year VA Refi | 5.43% | 4/22/24 |
| 30 Year USDA Purchase | 6.27% | 4/22/24 |
| 15 Year Conventional Purchase | 6.04% | 4/22/24 |
| 15 Year Conventional Refi | 5.75% | 4/22/24 |
| 15 Year Cash-out Refi | 5.75% | 4/22/24 |
| 15 Year VA Purchase | 5.67% | 4/22/24 |
| 15 Year VA Refi | 5.68% | 4/22/24 |
| 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. | ||
Armed Forces Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
812Origination Dollar Volume (All Markets)
$232,510,000Employee count
307Awards
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Armed Forces Bank - 2020
Armed Forces Bank is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 147 | $48,805,000 | $332,007 | $5,185 | 2.71% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 103 | $23,375,000 | $226,942 | $2,995 | 2.84% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 69 | $18,685,000 | $270,797 | $4,089 | 2.69% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 41 | $12,715,000 | $310,122 | $4,604 | 2.71% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 17 | $7,975,000 | $469,118 | $6,252 | 2.71% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 26 | $6,680,000 | $256,923 | $3,200 | 2.70% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 17 | $6,035,000 | $355,000 | $4,047 | 2.71% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 24 | $5,200,000 | $216,667 | $2,895 | 2.77% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 13 | $3,675,000 | $282,692 | $3,142 | 2.63% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 11 | $3,595,000 | $326,818 | $2,482 | 2.74% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 7 | $2,825,000 | $403,571 | $2,727 | 2.50% |
| Outside of Metro Areas | 11 | $2,775,000 | $252,273 | $4,080 | 2.83% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 10 | $2,740,000 | $274,000 | $5,062 | 2.44% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 5 | $2,655,000 | $531,000 | $3,981 | 3.42% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 8 | $2,570,000 | $321,250 | $3,874 | 2.61% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 8 | $2,470,000 | $308,750 | $4,803 | 2.91% |
| HANFORD-CORCORAN, CA (FHA|USDA|VA) | 7 | $2,465,000 | $352,143 | $11,174 | 2.57% |
| VALLEJO, CA (FHA|USDA|VA) | 4 | $1,910,000 | $477,500 | $3,370 | 2.44% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 6 | $1,860,000 | $310,000 | $6,178 | 2.58% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 6 | $1,850,000 | $308,333 | $4,919 | 2.29% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $1,755,000 | $585,000 | $10,057 | 2.58% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $1,750,000 | $437,500 | $4,616 | 2.75% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 7 | $1,595,000 | $227,857 | $4,055 | 3.27% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 7 | $1,575,000 | $225,000 | $3,053 | 2.91% |
| PITTSBURGH, PA (FHA|USDA|VA) | 6 | $1,570,000 | $261,667 | $7,456 | 2.81% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 5 | $1,565,000 | $313,000 | $7,265 | 2.53% |
| MANHATTAN, KS (FHA|USDA|VA) | 7 | $1,555,000 | $222,143 | $3,401 | 2.50% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 7 | $1,505,000 | $215,000 | $5,945 | 2.61% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 6 | $1,470,000 | $245,000 | $2,365 | 2.92% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $1,400,000 | $350,000 | $4,011 | 2.56% |
| SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) | 8 | $1,400,000 | $175,000 | $3,630 | 3.14% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 4 | $1,350,000 | $337,500 | $5,193 | 2.66% |
| COLUMBUS, GA-AL (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $3,306 | 2.92% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $1,255,000 | $418,333 | $2,599 | 2.63% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 6 | $1,250,000 | $208,333 | $4,180 | 2.44% |
| RICHMOND, VA (FHA|USDA|VA) | 4 | $1,220,000 | $305,000 | $2,190 | 2.88% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 3 | $1,195,000 | $398,333 | $4,958 | 2.67% |
| WICHITA, KS (FHA|USDA|VA) | 6 | $1,140,000 | $190,000 | $3,330 | 2.67% |
| PUEBLO, CO (FHA|USDA|VA) | 4 | $1,140,000 | $285,000 | $5,590 | 2.84% |
| SAVANNAH, GA (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $5,176 | 2.72% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 4 | $1,020,000 | $255,000 | $3,011 | 2.47% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 2 | $1,010,000 | $505,000 | $5,719 | 2.44% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $9,065 | 3.59% |
| ALBUQUERQUE, NM (FHA|USDA|VA) | 3 | $1,005,000 | $335,000 | $4,312 | 2.58% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 3 | $995,000 | $331,667 | $4,760 | 2.25% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 4 | $960,000 | $240,000 | $5,390 | 2.66% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $3,420 | 2.44% |
| EL PASO, TX (FHA|USDA|VA) | 4 | $910,000 | $227,500 | $3,619 | 2.38% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $900,000 | $450,000 | $3,254 | 2.31% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $850,000 | $425,000 | $2,889 | 2.25% |
| TOPEKA, KS (FHA|USDA|VA) | 3 | $805,000 | $268,333 | $2,604 | 2.38% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $3,148 | 2.42% |
| LOUISVILLE, KY (FHA|USDA|VA) | 4 | $760,000 | $190,000 | $3,360 | 3.09% |
| WACO, TX (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $2,133 | 2.94% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $4,361 | 2.62% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 6 | $740,000 | $123,333 | $2,264 | 2.71% |
| MONTGOMERY, AL (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $6,128 | 2.25% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $27,651 | 2.75% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $4,331 | 3.19% |
| COLUMBUS, OH (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $3,511 | 2.83% |
| WILMINGTON, NC (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $2,640 | 3.19% |
| SANTA ROSA-PETALUMA, CA (FHA|USDA|VA) | 1 | $625,000 | $625,000 | $16,475 | 2.75% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $3,585 | 2.94% |
| GOLDSBORO, NC (FHA|USDA|VA) | 3 | $585,000 | $195,000 | $4,959 | 2.75% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $3,224 | 2.25% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $2,061 | 2.42% |
| Enterprise, AL (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $3,769 | 2.71% |
| AKRON, OH (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $3,198 | 3.13% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $5,503 | 2.25% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $7,295 | 3.13% |
| SALINAS, CA (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $2,929 | 3.63% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $2,214 | 2.50% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $10,693 | 2.25% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,328 | 2.25% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $4,063 | 2.31% |
| Del Rio, TX (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,512 | 2.25% |
| YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $16,360 | 3.25% |
| MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $1,367 | 2.75% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 3 | $445,000 | $148,333 | $2,320 | 3.17% |
| ANCHORAGE, AK (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $4,338 | 2.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $4,905 | 2.63% |
| JONESBORO, AR (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,953 | 2.94% |
| Centralia, WA (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $3,181 | 2.25% |
| WARNER ROBINS, GA (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $2,392 | 3.25% |
| FRESNO, CA (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $4,428 | 3.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $2,875 | 2.25% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,993 | 2.25% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $10,094 | 2.75% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $3,176 | 3.44% |
| Morehead City, NC (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,006 | 2.75% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $2,286 | 2.75% |
| Altus, OK (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $4,013 | 2.69% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $3,521 | 2.75% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $2,078 | 2.25% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $8,779 | 2.50% |
| MISSOULA, MT (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $2,887 | 2.38% |
| YUMA, AZ (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $14,399 | 3.38% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $3,440 | 2.50% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,837 | 2.25% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,286 | 2.25% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,560 | 3.38% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $2,371 | 2.25% |
| ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $2,243 | 2.56% |
| SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,334 | 3.25% |
| LANSING-EAST LANSING, MI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,512 | 2.75% |
| VALDOSTA, GA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $2,750 | 2.94% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,725 | 2.44% |
| Sanford, NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,676 | 2.25% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $4,993 | 2.75% |
| Columbus, MS (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $11,144 | 2.25% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,466 | 2.25% |
| TUCSON, AZ (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $5,232 | 3.12% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,166 | 2.50% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,544 | 2.75% |
| DALTON, GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $2,501 | 2.25% |
| OCALA, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $8,134 | 2.25% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $1,493 | 2.25% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,177 | 2.25% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,316 | 3.50% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 2.75% |
| Parsons, KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $10,437 | 4.13% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,816 | 2.25% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,153 | 2.25% |
| SPRINGFIELD, OH (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $6,389 | 3.38% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,685 | 2.25% |
| REDDING, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,195 | 3.00% |
| LAS CRUCES, NM (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,880 | 2.25% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $4,786 | 2.75% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,997 | 2.50% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $7,414 | 2.75% |
| Aberdeen, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,585 | 3.38% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,284 | 2.75% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,408 | 2.25% |
| Nogales, AZ (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,000 | 2.25% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $6,979 | 2.38% |
| Atchison, KS (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,061 | 2.50% |
| NEW BERN, NC (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $3,010 | 2.75% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $881 | 3.38% |
| Indianola, MS (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $6,633 | 2.50% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $1,786 | 3.25% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,171 | 2.75% |
| Effingham, IL (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $1,896 | 3.50% |
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| VA | 589 | $181,985,000 | $308,973 | $4,544 | 2.57% |
| Conventional | 210 | $48,010,000 | $228,619 | $3,386 | 3.12% |
| FHA | 13 | $2,515,000 | $193,462 | $6,264 | 3.18% |
For 2020, Armed Forces Bank's most frequently originated type of loan was VA, with 589 originations. Their 2nd most popular type was Conventional, with 210 originations.
Loan Reason
For 2020, Armed Forces Bank's most frequently cited loan purpose was Refi, with 466 originations. The 2nd most popular reason was Home Purchase, with 220 originations.
Loan Duration/Length
For 2020, Armed Forces Bank's most frequently cited loan duration was 30 Year, with 730 originations. The 2nd most popular length was 15 Year, with 45 originations.
Origination Fees/Closing Costs
Armed Forces Bank's average total fees were $4,404, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 453 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| <2.5% | 373 | $111,985,000 | $300,228 |
| 2.5-3% | 260 | $76,630,000 | $294,731 |
| 3-4% | 163 | $40,815,000 | $250,399 |
| 4-5% | 16 | $3,080,000 | $192,500 |
During 2020, Armed Forces Bank's average interest rate for loans was 2.73%, while their most frequently originated rate bucket for loans was <2.5%, with 373 originations.
Loan Sizing
2020 saw Armed Forces Bank place emphasis on $200k-400k loans with 440 originations, totaling $129,580,000 in origination value.
Applicant Income
Armed Forces Bank lent most frequently to those with incomes in the $100k-150k range, with 118 originations. The second most popular income band? $75k-100k, with 99 originations.
Applicant Debt to Income Ratio
Armed Forces Bank lent most frequently to those with DTI ratios of 20-30%, with 109 originations. The next most common DTI ratio? 30-36%, with 71 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.21%
Armed Forces Bank has an average approval rate.
Pick Rate
Approvals leading to origination67.00%
Armed Forces Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 812 | $232,510,000 | $286,342 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 812 | $232,510,000 | $286,342 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Armed Forces Bank, National Association | 10730 Enduring Freedom Dr Fort Drum, NY 13602 | Full Service B&M | $210 |
| Armed Forces Bank, National Association | 108 Mcnair Road, Building 451 Fort Myer, VA 22211 | Full Service B&M | $43,531 |
| Armed Forces Bank, National Association | 11566 41st Division Drive Fort Lewis, WA 98433 | Full Service Retail | $3,254 |
| Armed Forces Bank, National Association | 131 Gold Vault Road Fort Knox, KY 40121 | Full Service B&M | $63,787 |
| Armed Forces Bank, National Association | 13471 Sgt Major Boulevard Fort Bliss, TX 79916 | Full Service Retail | $1,572 |
| Armed Forces Bank, National Association | 13877 W Thunderbird St Glendale, AZ 85307 | Full Service B&M | $30,498 |
| Armed Forces Bank, National Association | 1617 Pleasonton Rd Ste G-109 El Paso, TX 79906 | Full Service B&M | $38,736 |
| Armed Forces Bank, National Association | 2260 Callagan Highway, Building 3187a, Suite 1 San Diego, CA 92136 | Full Service B&M | $0 |
| Armed Forces Bank, National Association | 2260 Callagan Hwy Suite 1 San Diego, CA 92136 | Full Service Retail | $8,804 |
| Armed Forces Bank, National Association | 240 West Fitzgerald Boulevard Edwards Afb, CA 93524 | Full Service B&M | $8,373 |
| Armed Forces Bank, National Association | 26 Farragut Avenue Great Lakes, IL 60088 | Full Service B&M | $24,216 |
| Armed Forces Bank, National Association | 2901 South 4th Street Leavenworth, KS 66048 | Full Service B&M | $35,816 |
| Armed Forces Bank, National Association | 320 Kansas Avenue Fort Leavenworth, KS 66027 | Full Service B&M | $302,131 |
| Armed Forces Bank, National Association | 3238 Guadal Canal Road San Diego, CA 92155 | Full Service Retail | $508 |
| Armed Forces Bank, National Association | 350 Hickman Avenue Travis Afb, CA 94535 | Full Service B&M | $11,901 |
| Armed Forces Bank, National Association | 3542 Green Bay Road Great Lakes, IL 60088 | Full Service Retail | $2,364 |
| Armed Forces Bank, National Association | 37 Goldstone Road, Building 37 Fort Irwin, CA 92310 | Full Service B&M | $9,032 |
| Armed Forces Bank, National Association | 429 W. 18th Street Junction City, KS 66441 | Full Service B&M | $4,236 |
| Armed Forces Bank, National Association | 4325 North Washington Boulevard Nellis Air Force Base, NV 89110 | Full Service B&M | $72,668 |
| Armed Forces Bank, National Association | 4343 George Street Valdosta, GA 31699 | Full Service B&M | $3,765 |
| Armed Forces Bank, National Association | 484 Nebraska Avenue Fort Leonard Wood, MO 65473 | Full Service B&M | $41,368 |
| Armed Forces Bank, National Association | 52035 Arizona Street Fort Huachuca, AZ 85670 | Full Service B&M | $47,174 |
| Armed Forces Bank, National Association | 540 Cluverius Avenue, Building 400 Great Lakes, IL 60088 | Full Service Retail | $533 |
| Armed Forces Bank, National Association | 550 Barnes Boulevard Mcchord Afb, WA 98438 | Full Service B&M | $45,886 |
| Armed Forces Bank, National Association | 615 Metropolitan Avenue Leavenworth, KS 66048 | Limited, Drive-thru | $8,984 |
| Armed Forces Bank, National Association | 6384 Wetzel Avenue, Building 1512 Fort Carson, CO 80913 | Full Service B&M | $56,366 |
| Armed Forces Bank, National Association | 7800 Hampton Blvd Bldg 8c 400 Norfolk, VA 23511 | Full Service Retail | $2,270 |
| Armed Forces Bank, National Association | Building 3301 Surface Navy Blvd San Diego, CA 92136 | Full Service Retail | $1,556 |
| Armed Forces Bank, National Association | Building 3452 P.O. Box 16171 Mc Guire Afb, NJ 8641 | Full Service Retail | $6,654 |
| Armed Forces Bank, National Association | Building 5303, Ashby Avenue Fort Riley, KS 66442 | Full Service B&M | $22,335 |
| Armed Forces Bank, National Association | Building 9207 Fort Rucker, AL 36362 | Full Service Retail | $5,512 |
| Armed Forces Bank, National Association | Building 926, 3108 N. Boundary Boulevard Macdill Afb, FL 33608 | Full Service B&M | $7,514 |
| Armed Forces Bank, National Association | Coleman And Linstrom Streets Fort Carson, CO 80913 | Limited, Drive-thru | $0 |
| Armed Forces Bank, National Association | Community Center Drive, Bldg 5122 U S A F Academy, CO 80840 | Full Service B&M | $5,012 |
| Armed Forces Bank, National Association | Nex Building 2017 San Diego, CA 92135 | Full Service Retail | $1,706 |
| Armed Forces Bank, National Association | Pendleton Avenue & North 12th Street Fort Lewis, WA 98433 | Full Service B&M | $54,089 |
For 2020, Armed Forces Bank had 36 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $34,291 |
| Net interest income | $31,662 |
| Total noninterest income | $42,223 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $17,085 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $25,138 |
| Pre-tax net operating income | $11,095 |
| Securities gains (or losses, -) | $12,798 |
| Income before extraordinary items | $17,670 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $17,670 |
| Minority interest net income | $0 |
| Net income | $17,670 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $7,559 |
Armed Forces Bank's gross interest income from loans was $34,291,000.
Armed Forces Bank's net interest income from loans was $31,662,000.
Armed Forces Bank's fee based income from loans was $17,085,000.
Armed Forces Bank's net income from loans was $17,670,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,629 |
| Provision for credit losses | $4,800 |
| Total noninterest expense | $57,990 |
| Salaries and employee benefits | $25,232 |
| Premises and equipment expense | $8,513 |
| Additional noninterest expense | $24,245 |
| Applicable income taxes | $6,223 |
| Net charge-offs | $679 |
| Cash dividends | $20,000 |
Armed Forces Bank's interest expense for loans was $2,629,000.
Armed Forces Bank's payroll and benefits expense were $25,232,000.
Armed Forces Bank's property, plant and equipment expenses $8,513,000.
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 | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 3.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.4% |
| 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 | $987,946 |
| Deposits held in domestic offices | $987,946 |
| Deposits by Individuals, partnerships, and corporations | $981,452 |
| Deposits by U.S. Government | $1,591 |
| Deposits by States and political subdivisions in the U.S. | $4,903 |
| 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 | $577,746 |
| Demand deposits | $577,746 |
| Nontransaction accounts | $410,200 |
| Money market deposit accounts (MMDAs) | $132,346 |
| Other savings deposits (excluding MMDAs) | $172,868 |
| Total time deposits | $104,987 |
| Total time and savings deposits | $410,200 |
| Noninterest-bearing deposits | $309,463 |
| Interest-bearing deposits | $678,483 |
| Retail deposits | $961,468 |
| IRAs and Keogh plan accounts | $11,988 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,175,666 |
| Cash & Balances due from depository institutions | $312,519 |
| Interest-bearing balances | $293,335 |
| Total securities | $257,257 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $568,300 |
| Loan and leases loss allowance | $14,313 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $12,456 |
| Other real estate owned | $500 |
| Goodwill and other intangibles | $9,332 |
| All other assets | $15,302 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,175,666 |
| Total Liabilities | $990,867 |
| Total deposits | $987,946 |
| Interest-bearing deposits | $678,483 |
| Deposits held in domestic offices | $987,946 |
| % insured (estimated) | $86 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $2,921 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $568,300 |
| Loan and leases loss allowance | $14,313 |
| Total loans and leases (domestic) | $582,613 |
| All real estate loans | $455,565 |
| Real estate loans in domestic offices | $455,565 |
| Construction and development loans | $19,711 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $19,711 |
| Loans secured by nonfarm nonresidential properties | $313,768 |
| Nonfarm nonresidential secured by owner-occupied properties | $14,772 |
| Commercial real estate & other non-farm, non-residential | $298,996 |
| Multifamily residential real estate | $19,618 |
| 1-4 family residential loans | $102,468 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $107,253 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $5,781 |
| Credit card loans | $1,874 |
| Related Plans | $80 |
| Consumer Auto Loans | $302 |
| Other loans to individuals | $3,525 |
| All other loans & leases | $14,015 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $3,015 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $10,229 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $21 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Armed Forces Bank had $568,300,000 of loans outstanding in 2020. $455,565,000 of loans were in real estate loans. $19,711,000 of loans were in development loans. $19,618,000 of loans were in multifamily mortgage loans. $102,468,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,874,000 of loans were in credit card loans. $302,000 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 | 13 | $496 | $38,154 |
| Nonfarm, nonresidential loans - <$100k | 8 | $66 | $8,250 |
| Nonfarm, nonresidential loans - $100-250k | 4 | $406 | $101,500 |
| Nonfarm, nonresidential loans - $250k-1MM | 1 | $24 | $24,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 24 | $613 | $25,542 |
| Commercial & Industrial, US addressed loans - <$100k | 14 | $205 | $14,643 |
| Commercial & Industrial, US addressed loans - $100-250k | 7 | $142 | $20,286 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 3 | $266 | $88,667 |