The Elberfeld State Bank Mortgage Rates, Fees & Info

Elberfeld, IN

LEI: 5493008S1XZ46M3GR587

Tax ID: 35-0289270

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
  • 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

    The Elberfeld State Bank is a smaller bank specializing in Refi and Cash Out Refi loans. The Elberfeld State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Evansville, Vincennes, Washington, and Jasper among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Elberfeld State 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. The Elberfeld State 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.

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    Originations

    100

    Origination Dollar Volume (All Markets)

    $16,830,000

    Employee count

    14

    Awards

    The Elberfeld State Bank 30 Year Conventional Loans gold The Elberfeld State Bank 30 Year Conventional Loans gold The Elberfeld State Bank 30 Year Conventional Loans gold
    Show all (3) 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
    Outside of Metro Areas 53 $8,365,000 $157,830 $2,595 2.62%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 42 $7,920,000 $188,571 $2,596 2.70%
    Vincennes, IN (FHA|USDA|VA) 2 $250,000 $125,000 $1,843 2.19%
    Washington, IN (FHA|USDA|VA) 2 $230,000 $115,000 $1,862 3.81%
    Jasper, IN (FHA|USDA|VA) 1 $65,000 $65,000 $1,723 2.00%
    The Elberfeld State Bank's top markets include Evansville, Vincennes, Washington, and Jasper among others.

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

    • Similar Lenders

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

    EVANSVILLE
    Similarity Rank: 60
    BOONVILLE FEDERAL SAVINGS BANK
    Similarity Rank: 126
    The Elberfeld State Bank
    Similarity Rank: 130
    United Fidelity Bank, fsb
    Similarity Rank: 165
    Heritage Federal Credit Union
    Similarity Rank: 180
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 360
    Independence Bank of Kentucky
    Similarity Rank: 1156
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1620
    German American Bank
    Similarity Rank: 2310
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 2400

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $16,830,000 $168,300 $2,557 2.66%

    For 2020, The Elberfeld State Bank's most frequently originated type of loan was Conventional, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 44 $7,580,000 $172,273 $2,194 2.58%
    Cash Out Refi 37 $6,285,000 $169,865 $3,025 2.57%
    Home Purchase 17 $2,895,000 $170,294 $2,738 2.84%
    Other 2 $70,000 $35,000 $368 4.70%

    For 2020, The Elberfeld State Bank's most frequently cited loan purpose was Refi, with 44 originations. The 2nd most popular reason was Cash Out Refi, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 35 $5,435,000 $155,286 $2,272 2.33%
    30 Year 31 $6,235,000 $201,129 $2,947 2.83%
    Other 16 $2,650,000 $165,625 $2,647 2.64%
    20 Year 12 $2,190,000 $182,500 $2,995 2.66%
    10 Year 6 $320,000 $53,333 $1,092 3.82%

    For 2020, The Elberfeld State Bank's most frequently cited loan duration was 15 Year, with 35 originations. The 2nd most popular length was 30 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 42 $6,540,000 $155,714
    $<1k 38 $5,310,000 $139,737
    $2k-3k 10 $2,150,000 $215,000
    $3k-4k 7 $1,795,000 $256,429
    $4k-5k 2 $520,000 $260,000
    $5k+ 1 $515,000 $515,000

    The Elberfeld State Bank's average total fees were $2,947, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 42 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 65 $11,115,000 $171,000
    2.5-3% 18 $3,410,000 $189,444
    3-4% 9 $1,705,000 $189,444
    4-5% 6 $340,000 $56,667
    5-6% 2 $260,000 $130,000

    During 2020, The Elberfeld State Bank's average interest rate for loans was 2.83%, while their most frequently originated rate bucket for loans was <2.5%, with 65 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 47 $6,795,000 $144,574 $2,568 2.51%
    $100,000 or less 25 $1,895,000 $75,800 $1,671 3.07%
    $200k-400k 24 $6,200,000 $258,333 $3,129 2.60%
    $400k-600k 4 $1,940,000 $485,000 $4,543 2.25%

    2020 saw The Elberfeld State Bank place emphasis on $100k-200k loans with 47 originations, totaling $6,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 32 $5,330,000 $166,563 $2,549 2.60%
    $100k-150k 19 $3,525,000 $185,526 $2,733 2.45%
    $50k-75k 19 $2,505,000 $131,842 $2,456 2.79%
    $50k or less 16 $1,470,000 $91,875 $2,158 2.91%
    $150k-250k 10 $2,480,000 $248,000 $2,797 2.79%
    $250k+ 4 $1,520,000 $380,000 $3,265 2.31%

    The Elberfeld State Bank lent most frequently to those with incomes in the $75k-100k range, with 32 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 43 $7,575,000 $176,163 $2,543 2.60%
    <20% 30 $4,910,000 $163,667 $2,386 2.70%
    30-36% 16 $2,460,000 $153,750 $2,606 2.88%
    41% 3 $585,000 $195,000 $3,524 2.21%
    39% 2 $350,000 $175,000 $3,786 2.75%
    36% 2 $200,000 $100,000 $2,424 2.13%
    42% 1 $145,000 $145,000 $2,216 2.38%
    37% 1 $185,000 $185,000 $2,761 3.50%
    38% 1 $215,000 $215,000 $2,505 2.75%
    40% 1 $205,000 $205,000 $2,622 2.38%

    The Elberfeld State Bank lent most frequently to those with DTI ratios of 20-30%, with 43 originations. The next most common DTI ratio? <20%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 100 $16,830,000 $168,300 $2,557 2.66%

    Approval Rates

    Total approvals of all applications
    97.39%

    The Elberfeld State 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
    88.00%

    The Elberfeld State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 100 $16,830,000 $168,300

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 4 $460,000 $115,000
    Single Family (1-4 Units):Site-Built 96 $16,370,000 $170,521

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $955,000 $106,111 $1,758 2.45%
    40-60% 31 $5,195,000 $167,581 $2,233 2.68%
    60-80% 43 $8,125,000 $188,953 $2,908 2.67%
    80-100% 16 $2,520,000 $157,500 $2,831 2.59%
    Under 20% 1 $35,000 $35,000 $333 4.70%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    TOLL BROTHERS INC Conventional home mortgage Closing on a mortgage 2 66.7%
    TOLL BROTHERS INC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Elberfeld State Bank 3403 N Green River Road Evansville, IN 47715 Full Service B&M $16,486
    The Elberfeld State Bank 55 Main Street Elberfeld, IN 47613 Full Service B&M $34,795
    The Elberfeld State Bank 803 East Highway 68 Haubstadt, IN 47639 Full Service B&M $25,787

    For 2020, The Elberfeld State Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,867
    Net interest income $2,545
    Total noninterest income $639
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $64
    Trading account gains and fees $0
    Additional Noninterest Income $575
    Pre-tax net operating income $935
    Securities gains (or losses, -) $21
    Income before extraordinary items $757
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $757
    Minority interest net income $0
    Net income $757
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $740

    The Elberfeld State Bank's gross interest income from loans was $2,867,000.
    The Elberfeld State Bank's net interest income from loans was $2,545,000.
    The Elberfeld State Bank's fee based income from loans was $64,000.
    The Elberfeld State Bank's net income from loans was $757,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $322
    Provision for credit losses $0
    Total noninterest expense $2,249
    Salaries and employee benefits $1,265
    Premises and equipment expense $269
    Additional noninterest expense $715
    Applicable income taxes $199
    Net charge-offs $0
    Cash dividends $460

    The Elberfeld State Bank's interest expense for loans was $322,000.
    The Elberfeld State Bank's payroll and benefits expense were $1,265,000.
    The Elberfeld State Bank's property, plant and equipment expenses $269,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    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 11.0%
    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 $75,407
    Deposits held in domestic offices $75,407
    Deposits by Individuals, partnerships, and corporations $75,358
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $49
    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 $31,624
    Demand deposits $28,355
    Nontransaction accounts $43,783
    Money market deposit accounts (MMDAs) $7,885
    Other savings deposits (excluding MMDAs) $19,184
    Total time deposits $16,714
    Total time and savings deposits $47,052
    Noninterest-bearing deposits $28,357
    Interest-bearing deposits $47,050
    Retail deposits $72,186
    IRAs and Keogh plan accounts $2,700
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $86,524
    Cash & Balances due from depository institutions $26,350
    Interest-bearing balances $23,234
    Total securities $14,877
    Federal funds sold & reverse repurchase $0
    Net loans and leases $39,846
    Loan and leases loss allowance $653
    Trading account assets $0
    Bank premises and fixed assets $2,382
    Other real estate owned $137
    Goodwill and other intangibles $205
    All other assets $2,727

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $86,524
    Total Liabilities $76,287
    Total deposits $75,407
    Interest-bearing deposits $47,050
    Deposits held in domestic offices $75,407
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $880

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $39,846
    Loan and leases loss allowance $653
    Total loans and leases (domestic) $40,499
    All real estate loans $31,810
    Real estate loans in domestic offices $31,810
    Construction and development loans $169
    Residential 1-4 family construction $119
    Other construction, all land development and other land $50
    Loans secured by nonfarm nonresidential properties $8,915
    Nonfarm nonresidential secured by owner-occupied properties $8,808
    Commercial real estate & other non-farm, non-residential $107
    Multifamily residential real estate $29
    1-4 family residential loans $9,405
    Farmland loans $13,292
    Loans held in foreign offices $0
    Farm loans $939
    Commercial and industrial loans $7,191
    To non-U.S. addressees $0
    Loans to individuals $500
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $360
    Other loans to individuals $140
    All other loans & leases $59
    Loans to foreign governments and official institutions $0
    Other loans $16
    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 $999
    Non 1-4 family restructured loans & leases $999
    Total loans and leases (foreign) $0

    The Elberfeld State Bank had $39,846,000 of loans outstanding in 2020. $31,810,000 of loans were in real estate loans. $169,000 of loans were in development loans. $29,000 of loans were in multifamily mortgage loans. $9,405,000 of loans were in 1-4 family mortgage loans. $939,000 of loans were in farm loans. $0 of loans were in credit card loans. $360,000 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 51 $6,438 $126,235
    Nonfarm, nonresidential loans - <$100k 18 $669 $37,167
    Nonfarm, nonresidential loans - $100-250k 21 $2,503 $119,190
    Nonfarm, nonresidential loans - $250k-1MM 12 $3,266 $272,167
    Commercial & Industrial, US addressed loans - <$1MM 119 $7,191 $60,429
    Commercial & Industrial, US addressed loans - <$100k 90 $2,197 $24,411
    Commercial & Industrial, US addressed loans - $100-250k 21 $2,540 $120,952
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $2,454 $306,750
    Farmland loans - <$1MM 45 $7,901 $175,578
    Farmland loans - <$100k 11 $401 $36,455
    Farmland loans - $100-250k 18 $2,336 $129,778
    Farmland loans - $250k-1MM 16 $5,164 $322,750
    Agriculture operations loans - <$1MM 12 $939 $78,250
    Agriculture operations loans - <$100k 7 $85 $12,143
    Agriculture operations loans - $100-250k 4 $603 $150,750
    Agriculture operations loans - $250k-1MM 1 $251 $251,000