Corefirst Bank & Trust Mortgage Rates, Fees & Info

Topeka, KS

LEI: 5493009SXBJ8LKIU7Q54

Tax ID: 48-0649730

5 stars - out of 5 stars, based on 22 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Corefirst Bank & Trust is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Corefirst Bank & Trust has a high proportion of conventional loans. Their top markets include Topeka, Kansas City, Denver, Lawrence, and Ottawa among others. Corefirst Bank & Trust has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Corefirst Bank & Trust is typically a low fee lendor.


Originations

485

Origination Dollar Volume (All Markets)

$86,245,000

Employee count

244

Awards

CoreFirst Bank & Trust 30 Year Conventional Loans gold CoreFirst Bank & Trust 30 Year Conventional Loans gold CoreFirst Bank & Trust 30 Year Conventional Loans gold CoreFirst Bank & Trust 30 Year Conventional Loans silver
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Relative Rate

Corefirst Bank & Trust's average 30 year fixed rate mortgage of loans were 3.03%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.12%.

Relative Fees

Corefirst Bank & Trust's average total fees for a 30 year fixed rate mortgage are $2,015.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
TOPEKA, KS (FHA|USDA|VA) 375 $46,765,000 $124,707 $1,990 3.59%
KANSAS CITY, MO-KS (FHA|USDA|VA) 77 $31,465,000 $408,636 $1,989 3.65%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 11 $2,705,000 $245,909 $2,571 3.93%
LAWRENCE, KS (FHA|USDA|VA) 7 $1,375,000 $196,429 $2,064 3.79%
Outside of Metro Areas 3 $1,295,000 $431,667 $2,724 2.58%
Ottawa, KS (FHA|USDA|VA) 3 $755,000 $251,667 $0 3.67%
Emporia, KS (FHA|USDA|VA) 4 $460,000 $115,000 $1,962 2.97%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $435,000 $435,000 $0 4.00%
GREELEY, CO (FHA|USDA|VA) 1 $385,000 $385,000 $2,506 3.13%
MANHATTAN, KS (FHA|USDA|VA) 2 $360,000 $180,000 $2,250 3.06%
Fort Leonard Wood, MO (FHA|USDA|VA) 1 $245,000 $245,000 $2,241 2.50%

Corefirst Bank & Trust's top markets include Topeka, Kansas City, Denver, Lawrence, and Ottawa among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 485 $86,245,000 $177,825 $2,011 3.59%

For the 2021 period, Corefirst Bank & Trust's most frequently originated loan type of loans were Conventional, with 485 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 135 $39,445,000 $292,185 $1,875 3.40%
Cash Out Refi 125 $22,815,000 $182,520 $2,087 3.20%
Home Improvement 99 $6,155,000 $62,172 $2,196 4.48%
Refi 80 $14,400,000 $180,000 $2,084 2.80%
Other 46 $3,430,000 $74,565 $0 4.72%

For the 2021, Corefirst Bank & Trust's most frequently cited loan purpose of loans were Home Purchase, with 135 originations. The 2nd most popular reason of loans were Cash Out Refi, with 125 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 203 $19,015,000 $93,670 $1,622 4.43%
30 Year 108 $22,580,000 $209,074 $2,015 3.03%
15 Year 80 $13,050,000 $163,125 $2,033 2.53%
20 Year 38 $7,690,000 $202,368 $2,073 2.87%
5 Year 28 $18,100,000 $646,429 $0 3.66%
10 Year 23 $4,505,000 $195,870 $1,718 3.52%
1 Year 5 $1,305,000 $261,000 $0 4.50%

For the 2021, Corefirst Bank & Trust's most frequently cited loan length of loans were Other, with 203 originations. The 2nd most popular length of loans were 30 Year, with 108 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 233 $42,895,000 $184,099

$2,015 of loans were Corefirst Bank & Trust's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 233 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
4-5% 138 $15,360,000 $111,304
2.5-3% 112 $22,880,000 $204,286
3-4% 90 $31,830,000 $353,667
<2.5% 88 $12,910,000 $146,705
5-6% 56 $3,250,000 $58,036
7-8% 1 $15,000 $15,000

During 2021, Corefirst Bank & Trust's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 4-5%, with 138 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 205 $9,815,000 $47,878 $1,843 4.05%
$100k-200k 163 $23,865,000 $146,411 $1,998 3.19%
$200k-400k 80 $21,990,000 $274,875 $2,103 3.25%
$400k-600k 20 $9,710,000 $485,500 $2,382 3.51%
$600k-1MM 9 $6,535,000 $726,111 $2,527 3.70%
$1MM+ 8 $14,330,000 $1,791,250 $2,899 3.79%

2021 saw Corefirst Bank & Trust place emphasis on $100,000 or less loans with 205 originations, totaling $9,815,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 106 $14,270,000 $134,623 $2,029 3.59%
$50k-75k 91 $8,515,000 $93,571 $1,929 3.57%
$75k-100k 66 $8,620,000 $130,606 $2,083 3.56%
$50k or less 61 $4,305,000 $70,574 $1,896 3.69%
$150k-250k 52 $10,750,000 $206,731 $2,202 3.56%
$250k+ 17 $5,535,000 $325,588 $2,322 3.43%

Corefirst Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 106 originations. The second most popular income band? $50k-75k, with 91 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 137 $18,655,000 $136,168 $2,024 3.42%
<20% 102 $10,980,000 $107,647 $1,982 3.59%
30-36% 73 $11,515,000 $157,740 $2,080 3.57%
42% 19 $2,085,000 $109,737 $1,943 4.07%
40% 19 $3,315,000 $174,474 $2,038 3.39%
37% 15 $3,725,000 $248,333 $1,778 3.68%
38% 11 $1,205,000 $109,545 $1,991 3.48%
39% 10 $1,550,000 $155,000 $2,036 3.59%
41% 9 $1,205,000 $133,889 $2,137 3.72%
36% 9 $885,000 $98,333 $1,841 4.24%
43% 3 $285,000 $95,000 $2,031 3.67%
48% 1 $75,000 $75,000 $0 4.25%

Corefirst Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 137 originations. The next most common DTI ratio? <20%, with 102 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 350 $46,160,000 $131,886 $1,993 3.60%
Not applicable 66 $28,920,000 $438,182 $0 3.79%
Not provided 47 $9,555,000 $203,298 $2,094 3.02%
Black 12 $800,000 $66,667 $1,977 4.44%
Asian 6 $560,000 $93,333 $2,073 3.50%
American Indian 4 $250,000 $62,500 $1,963 4.13%

Approval Rates

Total approvals of all applications
91.77%

Corefirst Bank & Trust has an average approval rate.

Pick Rate

Approvals leading to origination
80.75%

Corefirst Bank & Trust has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 485 $86,245,000 $177,825

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
485 $86,245,000 $177,825

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 78 $6,490,000 $83,205 $1,975 4.02%
40-60% 80 $12,400,000 $155,000 $2,061 3.11%
60-80% 180 $47,590,000 $264,389 $2,053 3.31%
80-100% 81 $17,575,000 $216,975 $1,958 3.36%
Under 20% 66 $2,190,000 $33,182 $774 4.74%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Corefirst Bank & Trust 10130 E. Dry Creek Road Englewood, CO 80112 Full Service B&M $15,829
Corefirst Bank & Trust 4900 Southwest 29th Street Topeka, KS 66614 Full Service B&M $75,649
Corefirst Bank & Trust 5311 Sw 22nd Place Topeka, KS 66614 Full Service Retail $19,899
Corefirst Bank & Trust 7430 Switzer St Shawnee, KS 66203 Full Service B&M $12,229
Corefirst Bank & Trust 830 South Kansas Avenue Topeka, KS 66612 Full Service B&M $36,561
Corefirst Bank & Trust 1106 Sw Gage Blvd Topeka, KS 66604 Full Service B&M $95,642
Corefirst Bank & Trust 11875 South Ridgeview Road Olathe, KS 66061 Limited, Drive-thru $7,254
Corefirst Bank & Trust 16201 West 95th Street Lenexa, KS 66219 Full Service B&M $39,139
Corefirst Bank & Trust 2010 Nw Central Avenue Topeka, KS 66608 Full Service B&M $76,594
Corefirst Bank & Trust 2010 S.E. 29th Street Topeka, KS 66605 Full Service Retail $19,304
Corefirst Bank & Trust 2129 Southwest Wanamaker Road Topeka, KS 66614 Full Service B&M $85,846
Corefirst Bank & Trust 2841 Se Croco Rd Topeka, KS 66605 Full Service B&M $55,231
Corefirst Bank & Trust 3035 South Topeka Avenue Topeka, KS 66611 Full Service B&M $251,427
Corefirst Bank & Trust 3035 Sw Topeka Blvd Topeka, KS 66611 Full Service Cyber Office $2,647
Corefirst Bank & Trust 3701 Southwest Wanamaker Road Topeka, KS 66610 Full Service B&M $105,220
Corefirst Bank & Trust 4610 Nw Fielding Road Topeka, KS 66618 Limited, Drive-thru $22,311

For 2021, Corefirst Bank & Trust had 16 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $37,105
Net interest income $35,232
Total noninterest income $14,931
Gross Fiduciary activities income $4,384
Service charges on deposit accounts $3,534
Trading account gains and fees $0
Additional Noninterest Income $7,013
Pre-tax net operating income $17,719
Securities gains (or losses, -) $14
Income before extraordinary items $17,072
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $17,072
Minority interest net income $0
Net income $17,072
Sale, conversion, retirement of capital stock, net $0
Net operating income $17,058

Corefirst Bank & Trust's gross interest income from loans was $37,105,000.
Corefirst Bank & Trust's net interest income from loans was $35,232,000.
Corefirst Bank & Trust's fee based income from loans was $3,534,000.
Corefirst Bank & Trust's net income from loans was $17,072,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,873
Provision for credit losses $-2,250
Total noninterest expense $34,694
Salaries and employee benefits $20,106
Premises and equipment expense $4,835
Additional noninterest expense $9,753
Applicable income taxes $661
Net charge-offs $1,215
Cash dividends $11,892

Corefirst Bank & Trust's interest expense for loans was $1,873,000.
Corefirst Bank & Trust's payroll and benefits expense were $20,106,000.
Corefirst Bank & Trust's property, plant and equipment expenses $4,835,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 1.0%
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 5.0%
Personal loans 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 0.0%
Other consumer loans 2.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $982,236
Deposits held in domestic offices $982,236
Deposits by Individuals, partnerships, and corporations $904,241
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $77,230
Deposits by Commercial banks and other depository institutions in U.S. $765
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $159,206
Demand deposits $102,327
Nontransaction accounts $823,030
Money market deposit accounts (MMDAs) $302,512
Other savings deposits (excluding MMDAs) $452,263
Total time deposits $68,255
Total time and savings deposits $879,909
Noninterest-bearing deposits $69,286
Interest-bearing deposits $912,951
Retail deposits $969,995
IRAs and Keogh plan accounts $10,466
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,218,779
Cash & Balances due from depository institutions $44,893
Interest-bearing balances $28,752
Total securities $431,217
Federal funds sold & reverse repurchase $0
Net loans and leases $675,089
Loan and leases loss allowance $7,410
Trading account assets $0
Bank premises and fixed assets $35,155
Other real estate owned $1,213
Goodwill and other intangibles $107
All other assets $31,105

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,218,779
Total Liabilities $1,124,126
Total deposits $982,236
Interest-bearing deposits $912,951
Deposits held in domestic offices $982,236
% insured (estimated) $79
Federal funds purchased and repurchase agreements $123,944
Trading liabilities $0
Other borrowed funds $8,000
Subordinated debt $0
All other liabilities $9,946

Issued Loan Types

Type Value (in 000's)
Net loans and leases $675,089
Loan and leases loss allowance $7,410
Total loans and leases (domestic) $682,499
All real estate loans $537,078
Real estate loans in domestic offices $537,078
Construction and development loans $52,910
Residential 1-4 family construction $36,158
Other construction, all land development and other land $16,752
Loans secured by nonfarm nonresidential properties $275,546
Nonfarm nonresidential secured by owner-occupied properties $105,528
Commercial real estate & other non-farm, non-residential $170,018
Multifamily residential real estate $48,318
1-4 family residential loans $159,188
Farmland loans $1,116
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $109,774
To non-U.S. addressees $0
Loans to individuals $34,583
Credit card loans $7,044
Related Plans $571
Consumer Auto Loans $9,650
Other loans to individuals $17,318
All other loans & leases $1,064
Loans to foreign governments and official institutions $0
Other loans $989
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 $9,509
Non 1-4 family restructured loans & leases $9,029
Total loans and leases (foreign) $0

CoreFirst Bank & Trust had $675,089,000 of loans outstanding in 2021. $537,078,000 of loans were in real estate loans. $52,910,000 of loans were in development loans. $48,318,000 of loans were in multifamily mortgage loans. $159,188,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $7,044,000 of loans were in credit card loans. $9,650,000 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 118 $37,453 $317,398
Nonfarm, nonresidential loans - <$100k 9 $268 $29,778
Nonfarm, nonresidential loans - $100-250k 29 $3,992 $137,655
Nonfarm, nonresidential loans - $250k-1MM 80 $33,193 $414,913
Commercial & Industrial, US addressed loans - <$1MM 509 $45,326 $89,049
Commercial & Industrial, US addressed loans - <$100k 335 $8,729 $26,057
Commercial & Industrial, US addressed loans - $100-250k 102 $11,958 $117,235
Commercial & Industrial, US addressed loans - $250k-1MM 72 $24,639 $342,208
Farmland loans - <$1MM 4 $514 $128,500
Farmland loans - <$100k 3 $144 $48,000
Farmland loans - $250k-1MM 1 $370 $370,000