Heartland National Bank Mortgage Rates, Fees & Info

Sebring, FL

LEI: 5493008CIXOTKUFPFW43

Tax ID: 59-3584666

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

Review & Overview

Heartland National Bank is a smaller bank specializing in Home Purchase and Refi loans. Heartland National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Sebring, Tampa, Lakeland, Wauchula, and Cape Coral among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Heartland National 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.

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Originations

248

Origination Dollar Volume (All Markets)

$44,280,000

Employee count

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
SEBRING-AVON PARK, FL (FHA\|USDA\|VA)	230	$37,570,000	$163,348	$0	0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	3	$2,685,000	$895,000	$0	0.00%
LAKELAND-WINTER HAVEN, FL (FHA\|USDA\|VA)	4	$1,450,000	$362,500	$0	0.00%
Wauchula, FL (FHA\|USDA\|VA)	5	$775,000	$155,000	$0	0.00%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	3	$615,000	$205,000	$0	0.00%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$515,000	$515,000	$0	0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$365,000	$365,000	$0	0.00%
Outside of Metro Areas	1	$305,000	$305,000	$0	0.00%

Heartland National Bank's top markets include Sebring, Tampa, Lakeland, Wauchula, and Cape Coral among others.

Their top states include:

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	248	$44,280,000	$178,548	$0	0.00%

For 2020, Heartland National Bank's most frequently originated type of loan was Conventional, with 248 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	130	$25,430,000	$195,615	$0	0.00%
Refi	61	$11,085,000	$181,721	$0	0.00%
Cash Out Refi	35	$5,725,000	$163,571	$0	0.00%
Other	13	$1,505,000	$115,769	$0	0.00%
Home Improvement	9	$535,000	$59,444	$0	0.00%

For 2020, Heartland National Bank's most frequently cited loan purpose was Home Purchase, with 130 originations. The 2nd most popular reason was Refi, with 61 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	248	$44,280,000	$178,548	$0	0.00%

For 2020, Heartland National Bank's most frequently cited loan duration was Other, with 248 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	98	$13,880,000	$141,633	$0	0.00%
$200k-400k	70	$18,770,000	$268,143	$0	0.00%
$100,000 or less	69	$4,105,000	$59,493	$0	0.00%
$400k-600k	8	$3,650,000	$456,250	$0	0.00%
$600k-1MM	2	$1,790,000	$895,000	$0	0.00%
$1MM+	1	$2,085,000	$2,085,000	$0	0.00%

2020 saw Heartland National Bank place emphasis on $100k-200k loans with 98 originations, totaling $13,880,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	63	$7,985,000	$126,746	$0	0.00%
$50k or less	51	$4,905,000	$96,176	$0	0.00%
$75k-100k	44	$8,040,000	$182,727	$0	0.00%
$100k-150k	37	$7,625,000	$206,081	$0	0.00%
$150k-250k	26	$6,140,000	$236,154	$0	0.00%
$250k+	19	$5,675,000	$298,684	$0	0.00%

Heartland National Bank lent most frequently to those with incomes in the $50k-75k range, with 63 originations. The second most popular income band? $50k or less, with 51 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	248	$44,280,000	$178,548	$0	0.00%

Heartland National Bank lent most frequently to those with DTI ratios of Exempt%, with 248 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	231	$39,085,000	$169,199	$0	0.00%
Not applicable	5	$3,525,000	$705,000	$0	0.00%
Black	7	$665,000	$95,000	$0	0.00%
Asian	3	$645,000	$215,000	$0	0.00%
American Indian	1	$285,000	$285,000	$0	0.00%
Not provided	1	$75,000	$75,000	$0	0.00%

Approval Rates

Total approvals of all applications
78.59%

Heartland National Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
74.19%

Heartland National Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	248	$44,280,000	$178,548

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	3	$3,295,000	$1,098,333
Single Family (1-4 Units):Manufactured	15	$925,000	$61,667
Single Family (1-4 Units):Site-Built	230	$40,060,000	$174,174

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Heartland National Bank	320 U.S. Highway 27 North Sebring, FL 33870	Full Service B&M	$181,037
Heartland National Bank	5033 U S Hwy 27 N Sebring, FL 33870	Full Service B&M	$29,894
Heartland National Bank	600 U.S. Highway 27 North Lake Placid, FL 33852	Full Service B&M	$158,393
Heartland National Bank	800 West Main Street Avon Park, FL 33825	Full Service B&M	$90,056

For 2020, Heartland National Bank had 4 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$12,924
Net interest income	$11,869
Total noninterest income	$1,989
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$274
Trading account gains and fees	$0
Additional Noninterest Income	$1,715
Pre-tax net operating income	$5,380
Securities gains (or losses, -)	$23
Income before extraordinary items	$4,240
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,240
Minority interest net income	$0
Net income	$4,240
Sale, conversion, retirement of capital stock, net	$149
Net operating income	$4,221

Heartland National Bank's gross interest income from loans was $12,924,000.
Heartland National Bank's net interest income from loans was $11,869,000.
Heartland National Bank's fee based income from loans was $274,000.
Heartland National Bank's net income from loans was $4,240,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,055
Provision for credit losses	$73
Total noninterest expense	$8,405
Salaries and employee benefits	$4,402
Premises and equipment expense	$673
Additional noninterest expense	$3,330
Applicable income taxes	$1,163
Net charge-offs	$-15
Cash dividends	$0

Heartland National Bank's interest expense for loans was $1,055,000.
Heartland National Bank's payroll and benefits expense were $4,402,000.
Heartland National Bank's property, plant and equipment expenses $673,000.

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	$483,018
Deposits held in domestic offices	$483,018
Deposits by Individuals, partnerships, and corporations	$456,993
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$26,025
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	$245,293
Demand deposits	$114,621
Nontransaction accounts	$237,725
Money market deposit accounts (MMDAs)	$108,907
Other savings deposits (excluding MMDAs)	$68,559
Total time deposits	$60,259
Total time and savings deposits	$368,397
Noninterest-bearing deposits	$114,621
Interest-bearing deposits	$368,398
Retail deposits	$468,913
IRAs and Keogh plan accounts	$9,883
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$532,992
Cash & Balances due from depository institutions	$248,191
Interest-bearing balances	$243,319
Total securities	$105,115
Federal funds sold & reverse repurchase	$0
Net loans and leases	$164,339
Loan and leases loss allowance	$2,487
Trading account assets	$0
Bank premises and fixed assets	$4,245
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$11,102

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$532,992
Total Liabilities	$486,775
Total deposits	$483,018
Interest-bearing deposits	$368,398
Deposits held in domestic offices	$483,018
% insured (estimated)	$76
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,757

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$164,339
Loan and leases loss allowance	$2,487
Total loans and leases (domestic)	$166,826
All real estate loans	$120,595
Real estate loans in domestic offices	$120,595
Construction and development loans	$12,808
Residential 1-4 family construction	$5,249
Other construction, all land development and other land	$7,559
Loans secured by nonfarm nonresidential properties	$46,418
Nonfarm nonresidential secured by owner-occupied properties	$24,688
Commercial real estate & other non-farm, non-residential	$21,730
Multifamily residential real estate	$3,606
1-4 family residential loans	$39,902
Farmland loans	$17,861
Loans held in foreign offices	$0
Farm loans	$21,613
Commercial and industrial loans	$16,814
To non-U.S. addressees	$0
Loans to individuals	$5,732
Credit card loans	$0
Related Plans	$1,731
Consumer Auto Loans	$1,252
Other loans to individuals	$2,749
All other loans & leases	$2,072
Loans to foreign governments and official institutions	$0
Other loans	$23
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	$2,025
Non 1-4 family restructured loans & leases	$2,025
Total loans and leases (foreign)	$0

Heartland National Bank had $164,339,000 of loans outstanding in 2020. $120,595,000 of loans were in real estate loans. $12,808,000 of loans were in development loans. $3,606,000 of loans were in multifamily mortgage loans. $39,902,000 of loans were in 1-4 family mortgage loans. $21,613,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,252,000 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	161	$29,771	$184,913
Nonfarm, nonresidential loans - <$100k	34	$1,317	$38,735
Nonfarm, nonresidential loans - $100-250k	64	$7,069	$110,453
Nonfarm, nonresidential loans - $250k-1MM	63	$21,385	$339,444
Commercial & Industrial, US addressed loans - <$1MM	374	$13,895	$37,152
Commercial & Industrial, US addressed loans - <$100k	308	$6,086	$19,760
Commercial & Industrial, US addressed loans - $100-250k	45	$3,825	$85,000
Commercial & Industrial, US addressed loans - $250k-1MM	21	$3,984	$189,714
Farmland loans - <$1MM	51	$4,623	$90,647
Farmland loans - <$100k	19	$693	$36,474
Farmland loans - $100-250k	24	$2,617	$109,042
Farmland loans - $250k-1MM	8	$1,313	$164,125
Agriculture operations loans - <$1MM	137	$10,735	$78,358
Agriculture operations loans - <$100k	76	$1,962	$25,816
Agriculture operations loans - $100-250k	45	$5,512	$122,489
Agriculture operations loans - $250k-1MM	16	$3,261	$203,813