The Old Fort Banking Company Mortgage Rates, Fees & Info

Old Fort, OH

LEI: 549300AWVW2ZYIVA5297

Tax ID: 34-4321530

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The Old Fort Banking Company is a smaller bank specializing in Cash Out Refi and Home Purchase loans. The Old Fort Banking Company has a high proportion of conventional loans. Their top markets include Dayton, Columbus, Tiffin, Findlay, and Cincinnati among others. The Old Fort Banking Company 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. The Old Fort Banking Company is typically a low fee lendor.


Originations

640

Origination Dollar Volume (All Markets)

$137,930,000

Employee count

102 Show all (8) awards

Relative Rate

The Old Fort Banking Company's average 30 year fixed rate mortgage of loans were 3.18%.

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

This yields a difference of 0.03%.

Relative Fees

The Old Fort Banking Company's average total fees for a 30 year fixed rate mortgage are $2,545.

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
DAYTON-KETTERING, OH (FHA|USDA|VA) 318 $67,440,000 $212,075 $2,587 2.99%
COLUMBUS, OH (FHA|USDA|VA) 26 $14,770,000 $568,077 $2,855 2.92%
Tiffin, OH (FHA|USDA|VA) 104 $13,830,000 $132,981 $2,085 2.94%
Findlay, OH (FHA|USDA|VA) 49 $11,455,000 $233,776 $2,657 2.71%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 37 $9,105,000 $246,081 $2,573 2.89%
TOLEDO, OH (FHA|USDA|VA) 24 $6,110,000 $254,583 $2,703 2.78%
Fremont, OH (FHA|USDA|VA) 31 $4,515,000 $145,645 $2,335 2.84%
SPRINGFIELD, OH (FHA|USDA|VA) 11 $2,635,000 $239,545 $3,093 3.23%
Wilmington, OH (FHA|USDA|VA) 6 $1,410,000 $235,000 $2,732 2.85%
Outside of Metro Areas 7 $1,095,000 $156,429 $2,182 2.61%
LIMA, OH (FHA|USDA|VA) 3 $845,000 $281,667 $2,942 2.88%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $535,000 $535,000 $2,314 2.63%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 5 $505,000 $101,000 $2,303 3.12%
Traverse City, MI (FHA|USDA|VA) 1 $505,000 $505,000 $0 3.13%
KNOXVILLE, TN (FHA|USDA|VA) 1 $445,000 $445,000 $3,420 3.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $305,000 $305,000 $2,484 3.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $275,000 $275,000 $2,857 2.88%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $275,000 $275,000 $2,771 2.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $225,000 $225,000 $1,854 3.25%
Sandusky, OH (FHA|USDA|VA) 2 $210,000 $105,000 $2,112 2.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,438 3.50%
CLEVELAND, TN (FHA|USDA|VA) 1 $205,000 $205,000 $2,660 3.13%
Kendallville, IN (FHA|USDA|VA) 1 $205,000 $205,000 $1,754 3.25%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,722 2.88%
Bucyrus-Galion, OH (FHA|USDA|VA) 1 $155,000 $155,000 $1,764 2.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $125,000 $125,000 $2,219 2.63%
Bellefontaine, OH (FHA|USDA|VA) 1 $115,000 $115,000 $2,276 2.88%
Norwalk, OH (FHA|USDA|VA) 1 $105,000 $105,000 $1,876 2.63%
AKRON, OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 3.34%
Coldwater, MI (FHA|USDA|VA) 1 $55,000 $55,000 $1,819 2.00%

The Old Fort Banking Company's top markets include Dayton, Columbus, Tiffin, Findlay, and Cincinnati among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 640 $137,930,000 $215,516 $2,517 2.93%

For the 2021 period, The Old Fort Banking Company's most frequently originated loan type of loans were Conventional, with 640 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 382 $73,840,000 $193,298 $2,311 2.78%
Home Purchase 249 $57,585,000 $231,265 $2,885 3.14%
Home Improvement 4 $670,000 $167,500 $528 3.56%
Refi 4 $5,800,000 $1,450,000 $0 3.81%
Other 1 $35,000 $35,000 $453 3.50%

For the 2021, The Old Fort Banking Company's most frequently cited loan purpose of loans were Cash Out Refi, with 382 originations. The 2nd most popular reason of loans were Home Purchase, with 249 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 319 $63,365,000 $198,636 $2,545 3.18%
15 Year 194 $37,760,000 $194,639 $2,353 2.42%
10 Year 37 $13,295,000 $359,324 $2,047 2.59%
20 Year 36 $6,030,000 $167,500 $2,306 3.00%
Other 20 $5,910,000 $295,500 $2,691 3.15%
30+ year 19 $8,995,000 $473,421 $4,701 3.50%
5 Year 15 $2,575,000 $171,667 $0 4.05%

For the 2021, The Old Fort Banking Company's most frequently cited loan length of loans were 30 Year, with 319 originations. The 2nd most popular length of loans were 15 Year, with 194 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 604 $122,090,000 $202,136
$1k-2k 8 $2,140,000 $267,500
$2k-3k 1 $315,000 $315,000

$2,545 of loans were The Old Fort Banking Company's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 604 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 233 $58,985,000 $253,155
2.5-3% 211 $43,595,000 $206,611
<2.5% 173 $32,905,000 $190,202
4-5% 23 $2,445,000 $106,304

During 2021, The Old Fort Banking Company's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 233 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 224 $32,050,000 $143,080 $2,321 2.91%
$200k-400k 206 $56,490,000 $274,223 $2,731 2.88%
$100,000 or less 152 $10,950,000 $72,039 $2,039 2.99%
$400k-600k 44 $21,290,000 $483,864 $3,643 3.03%
$600k-1MM 9 $7,005,000 $778,333 $4,470 3.05%
$1MM+ 5 $10,145,000 $2,029,000 $5,786 3.44%

2021 saw The Old Fort Banking Company place emphasis on $100k-200k loans with 224 originations, totaling $32,050,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 128 $17,670,000 $138,047 $2,300 2.85%
$100k-150k 119 $24,205,000 $203,403 $2,473 2.93%
$75k-100k 113 $20,705,000 $183,230 $2,494 2.93%
$50k or less 95 $9,715,000 $102,263 $2,211 2.96%
$150k-250k 89 $24,335,000 $273,427 $2,775 2.93%
$250k+ 74 $29,880,000 $403,784 $3,128 2.76%

The Old Fort Banking Company lent most frequently to those with incomes in the $50k-75k range, with 128 originations. The second most popular income band? $100k-150k, with 119 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 200 $36,930,000 $184,650 $2,433 2.81%
<20% 125 $26,955,000 $215,640 $2,439 2.82%
30-36% 109 $23,075,000 $211,697 $2,572 3.00%
36% 22 $5,110,000 $232,273 $2,718 2.94%
42% 19 $4,215,000 $221,842 $2,626 3.05%
38% 19 $5,075,000 $267,105 $3,163 2.99%
44% 18 $3,000,000 $166,667 $2,358 2.96%
39% 17 $4,185,000 $246,176 $2,667 2.82%
37% 14 $1,970,000 $140,714 $2,548 3.09%
41% 13 $3,545,000 $272,692 $2,799 3.01%
40% 13 $2,415,000 $185,769 $2,610 3.28%
47% 10 $1,830,000 $183,000 $2,460 2.64%
46% 8 $1,180,000 $147,500 $2,405 3.14%
45% 7 $1,255,000 $179,286 $2,514 2.98%
48% 7 $1,715,000 $245,000 $2,633 2.63%
43% 6 $860,000 $143,333 $2,420 3.15%
49% 4 $760,000 $190,000 $2,284 2.78%
50-60% 1 $375,000 $375,000 $2,632 3.00%

The Old Fort Banking Company lent most frequently to those with DTI ratios of 20-30%, with 200 originations. The next most common DTI ratio? <20%, with 125 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 587 $119,695,000 $203,910 $2,515 2.90%
Not applicable 20 $11,090,000 $554,500 $0 4.02%
Not provided 11 $2,425,000 $220,455 $2,432 3.06%
Asian 10 $2,270,000 $227,000 $2,490 2.95%
Black 11 $2,145,000 $195,000 $2,769 2.90%
Other Asian 1 $305,000 $305,000 $2,571 2.13%

Approval Rates

Total approvals of all applications
94.44%

The Old Fort Banking Company has an average approval rate.

Pick Rate

Approvals leading to origination
88.05%

The Old Fort Banking Company has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 640 $137,930,000 $215,516

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
640 $137,930,000 $215,516

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 38 $4,260,000 $112,105 $2,061 2.63%
40-60% 147 $25,575,000 $173,980 $2,329 2.78%
60-80% 289 $67,125,000 $232,266 $2,513 2.97%
80-100% 158 $39,760,000 $251,646 $2,822 3.08%
Under 20% 7 $785,000 $112,143 $1,965 3.11%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The Old Fort Banking Company 15030 Flag City Drive Findlay, OH 45840 Full Service B&M $76,710
The Old Fort Banking Company 238 State Street Bettsville, OH 44815 Full Service B&M $37,365
The Old Fort Banking Company 300 W. State St. Fremont, OH 43420 Full Service B&M $66,515
The Old Fort Banking Company 33 East Market Street Tiffin, OH 44883 Full Service B&M $92,881
The Old Fort Banking Company 599 Plaza Drive Fostoria, OH 44830 Full Service B&M $27,894
The Old Fort Banking Company 634 West Market Tiffin, OH 44883 Full Service B&M $206,090
The Old Fort Banking Company 6430 Wilmington Pike Dayton, OH 45459 Full Service B&M $84,575
The Old Fort Banking Company 651 West Mcpherson Highway Clyde, OH 43410 Full Service B&M $49,532
The Old Fort Banking Company 8034 Main Street Old Fort, OH 44861 Full Service B&M $33,096
The Old Fort Banking Company 88 South Progress Drive Xenia, OH 45385 Full Service B&M $25,731

For 2021, The Old Fort Banking Company had 10 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $22,477
Net interest income $21,381
Total noninterest income $6,113
Gross Fiduciary activities income $0
Service charges on deposit accounts $671
Trading account gains and fees $0
Additional Noninterest Income $5,442
Pre-tax net operating income $12,256
Securities gains (or losses, -) $6
Income before extraordinary items $12,262
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $12,262
Minority interest net income $0
Net income $12,262
Sale, conversion, retirement of capital stock, net $0
Net operating income $12,256

The Old Fort Banking Company's gross interest income from loans was $22,477,000.
The Old Fort Banking Company's net interest income from loans was $21,381,000.
The Old Fort Banking Company's fee based income from loans was $671,000.
The Old Fort Banking Company's net income from loans was $12,262,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,096
Provision for credit losses $300
Total noninterest expense $14,938
Salaries and employee benefits $9,576
Premises and equipment expense $1,051
Additional noninterest expense $4,311
Applicable income taxes $0
Net charge-offs $5
Cash dividends $5,695

The Old Fort Banking Company's interest expense for loans was $1,096,000.
The Old Fort Banking Company's payroll and benefits expense were $9,576,000.
The Old Fort Banking Company's property, plant and equipment expenses $1,051,000.

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 $742,010
Deposits held in domestic offices $742,010
Deposits by Individuals, partnerships, and corporations $651,979
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $89,044
Deposits by Commercial banks and other depository institutions in U.S. $987
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $409,885
Demand deposits $317,725
Nontransaction accounts $332,125
Money market deposit accounts (MMDAs) $156,066
Other savings deposits (excluding MMDAs) $100,610
Total time deposits $75,449
Total time and savings deposits $424,285
Noninterest-bearing deposits $217,105
Interest-bearing deposits $524,905
Retail deposits $729,531
IRAs and Keogh plan accounts $10,428
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $805,045
Cash & Balances due from depository institutions $101,010
Interest-bearing balances $88,734
Total securities $274,176
Federal funds sold & reverse repurchase $0
Net loans and leases $404,502
Loan and leases loss allowance $4,920
Trading account assets $0
Bank premises and fixed assets $6,941
Other real estate owned $0
Goodwill and other intangibles $2,455
All other assets $15,961

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $805,045
Total Liabilities $746,040
Total deposits $742,010
Interest-bearing deposits $524,905
Deposits held in domestic offices $742,010
% insured (estimated) $63
Federal funds purchased and repurchase agreements $1,069
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $2,961

Issued Loan Types

Type Value (in 000's)
Net loans and leases $404,502
Loan and leases loss allowance $4,920
Total loans and leases (domestic) $409,422
All real estate loans $319,775
Real estate loans in domestic offices $319,775
Construction and development loans $22,249
Residential 1-4 family construction $8,189
Other construction, all land development and other land $14,060
Loans secured by nonfarm nonresidential properties $153,191
Nonfarm nonresidential secured by owner-occupied properties $96,943
Commercial real estate & other non-farm, non-residential $56,248
Multifamily residential real estate $19,371
1-4 family residential loans $119,937
Farmland loans $5,027
Loans held in foreign offices $0
Farm loans $772
Commercial and industrial loans $86,276
To non-U.S. addressees $0
Loans to individuals $2,211
Credit card loans $0
Related Plans $40
Consumer Auto Loans $633
Other loans to individuals $1,538
All other loans & leases $388
Loans to foreign governments and official institutions $0
Other loans $41
Loans to depository institutions and acceptances of other banks $6
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $76
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

The Old Fort Banking Company had $404,502,000 of loans outstanding in 2021. $319,775,000 of loans were in real estate loans. $22,249,000 of loans were in development loans. $19,371,000 of loans were in multifamily mortgage loans. $119,937,000 of loans were in 1-4 family mortgage loans. $772,000 of loans were in farm loans. $0 of loans were in credit card loans. $633,000 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 248 $64,315 $259,335
Nonfarm, nonresidential loans - <$100k 32 $1,610 $50,313
Nonfarm, nonresidential loans - $100-250k 75 $9,261 $123,480
Nonfarm, nonresidential loans - $250k-1MM 141 $53,444 $379,035
Commercial & Industrial, US addressed loans - <$1MM 605 $65,627 $108,474
Commercial & Industrial, US addressed loans - <$100k 398 $12,517 $31,450
Commercial & Industrial, US addressed loans - $100-250k 102 $12,780 $125,294
Commercial & Industrial, US addressed loans - $250k-1MM 105 $40,330 $384,095
Farmland loans - <$1MM 32 $3,021 $94,406
Farmland loans - <$100k 14 $411 $29,357
Farmland loans - $100-250k 11 $1,352 $122,909
Farmland loans - $250k-1MM 7 $1,258 $179,714
Agriculture operations loans - <$1MM 12 $767 $63,917
Agriculture operations loans - <$100k 4 $144 $36,000
Agriculture operations loans - $100-250k 8 $623 $77,875