The Fountain Trust Company Mortgage Rates, Fees & Info

Covington, IN

LEI: 549300BM59EMYEJ5Q179

Tax ID: 35-0317770

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

Review & Overview

The Fountain Trust Company is a smaller mortgage company specializing in Home Purchase and Refi loans. The Fountain Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Lafayette, Crawfordsville, Indianapolis, Terre Haute, and Chicago among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Fountain Trust Company 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. The Fountain Trust Company 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	7.12%	12/4/24
30 Year Conventional Refi	6.86%	12/4/24
30 Year Cash-out Refi	6.84%	12/4/24
15 Year Conventional Purchase	7.69%	12/4/24
15 Year Conventional Refi	6.75%	12/4/24
15 Year Cash-out Refi	6.75%	12/4/24
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.

The Fountain Trust Company Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

505

Origination Dollar Volume (All Markets)

$98,415,000

Employee count

131

Awards

The Fountain Trust Company 30 Year Conventional Loans gold

Show all (4) 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
LAFAYETTE-WEST LAFAYETTE, IN (FHA\|USDA\|VA)	201	$40,425,000	$201,119	$1,805	3.69%
Outside of Metro Areas	122	$19,100,000	$156,557	$1,642	3.03%
Crawfordsville, IN (FHA\|USDA\|VA)	75	$11,535,000	$153,800	$1,686	3.14%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	27	$9,215,000	$341,296	$1,765	3.06%
TERRE HAUTE, IN (FHA\|USDA\|VA)	28	$3,970,000	$141,786	$1,678	3.58%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	16	$3,390,000	$211,875	$1,972	3.26%
Frankfort, IN (FHA\|USDA\|VA)	7	$1,615,000	$230,714	$1,775	4.19%
BLOOMINGTON, IN (FHA\|USDA\|VA)	2	$1,140,000	$570,000	$1,891	3.16%
Warsaw, IN (FHA\|USDA\|VA)	1	$1,055,000	$1,055,000	$0	3.95%
Logansport, IN (FHA\|USDA\|VA)	6	$1,030,000	$171,667	$1,792	3.89%
Scottsburg, IN (FHA\|USDA\|VA)	1	$1,005,000	$1,005,000	$0	4.25%
DANVILLE, IL (FHA\|USDA\|VA)	7	$935,000	$133,571	$2,057	3.73%
CINCINNATI, OH-KY-IN (FHA\|USDA\|VA)	1	$825,000	$825,000	$0	3.99%
SALT LAKE CITY, UT (FHA\|USDA\|VA)	1	$605,000	$605,000	$2,886	2.75%
KOKOMO, IN (FHA\|USDA\|VA)	4	$530,000	$132,500	$1,608	3.56%
Angola, IN (FHA\|USDA\|VA)	1	$525,000	$525,000	$2,341	2.50%
MUNCIE, IN (FHA\|USDA\|VA)	1	$365,000	$365,000	$0	4.25%
THE VILLAGES, FL (FHA\|USDA\|VA)	1	$325,000	$325,000	$2,457	2.25%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$315,000	$315,000	$0	3.63%
WINCHESTER, VA-WV (FHA\|USDA\|VA)	1	$285,000	$285,000	$3,257	3.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$225,000	$225,000	$2,887	3.00%

The Fountain Trust Company's top markets include Lafayette, Crawfordsville, Indianapolis, Terre Haute, and Chicago among others.

Their top states include:

Indiana (FHA|USDA|VA)

Illinois (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Utah (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Similar Lenders

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

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	505	$98,415,000	$194,881	$1,743	3.40%

For 2021, The Fountain Trust Company's most frequently originated type of loan was Conventional, with 505 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	207	$40,465,000	$195,483	$1,897	3.85%
Refi	164	$36,520,000	$222,683	$1,647	3.12%
Cash Out Refi	113	$18,865,000	$166,947	$1,702	2.96%
Other	13	$1,775,000	$136,538	$1,708	3.65%
Home Improvement	8	$790,000	$98,750	$1,413	3.23%

For 2021, The Fountain Trust Company's most frequently cited loan purpose was Home Purchase, with 207 originations. The 2nd most popular reason was Refi, with 164 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	212	$39,120,000	$184,528	$1,816	3.29%
15 Year	155	$30,595,000	$197,387	$1,662	3.11%
20 Year	103	$22,905,000	$222,379	$1,727	3.89%
10 Year	30	$4,690,000	$156,333	$1,595	3.87%
Other	5	$1,105,000	$221,000	$0	3.70%

For 2021, The Fountain Trust Company's most frequently cited loan duration was 30 Year, with 212 originations. The 2nd most popular length was 15 Year, with 155 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	366	$60,860,000	$166,284
$1k-2k	3	$715,000	$238,333
$2k-3k	2	$710,000	$355,000
$3k-4k	1	$155,000	$155,000

The Fountain Trust Company's average total fees were $1,816, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 366 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	186	$41,510,000	$223,172
2.5-3%	136	$24,260,000	$178,382
<2.5%	96	$18,830,000	$196,146
4-5%	45	$9,865,000	$219,222
5-6%	37	$3,505,000	$94,730
6-7%	5	$445,000	$89,000

During 2021, The Fountain Trust Company's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 3-4%, with 186 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	188	$26,730,000	$142,181	$1,702	3.24%
$100,000 or less	152	$10,410,000	$68,487	$1,621	3.85%
$200k-400k	127	$33,935,000	$267,205	$1,863	3.04%
$400k-600k	21	$10,045,000	$478,333	$2,236	3.39%
$600k-1MM	9	$6,565,000	$729,444	$2,886	3.78%
$1MM+	8	$10,730,000	$1,341,250	$0	3.92%

2021 saw The Fountain Trust Company place emphasis on $100k-200k loans with 188 originations, totaling $26,730,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	96	$8,880,000	$92,500	$1,708	3.77%
$50k-75k	91	$11,545,000	$126,868	$1,707	3.37%
$100k-150k	89	$17,935,000	$201,517	$1,734	3.03%
$75k-100k	77	$13,385,000	$173,831	$1,786	3.17%
$150k-250k	49	$10,945,000	$223,367	$1,827	3.02%
$250k+	17	$4,515,000	$265,588	$1,957	3.09%

The Fountain Trust Company lent most frequently to those with incomes in the $50k or less range, with 96 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%	138	$21,680,000	$157,101	$1,756	3.27%
30-36%	89	$14,855,000	$166,910	$1,815	3.38%
<20%	82	$13,040,000	$159,024	$1,666	3.00%
38%	13	$1,955,000	$150,385	$1,621	3.08%
43%	13	$2,055,000	$158,077	$1,660	3.12%
40%	13	$1,975,000	$151,923	$1,528	2.86%
42%	13	$2,445,000	$188,077	$1,773	3.06%
39%	12	$3,150,000	$262,500	$1,988	2.64%
37%	10	$1,500,000	$150,000	$1,756	3.06%
36%	10	$1,790,000	$179,000	$1,708	3.60%
41%	7	$1,595,000	$227,857	$1,732	3.32%
44%	1	$185,000	$185,000	$1,849	3.13%
45%	1	$345,000	$345,000	$2,005	1.88%

The Fountain Trust Company lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? 30-36%, with 89 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	398	$64,440,000	$161,910	$1,731	3.34%
Not applicable	61	$25,365,000	$415,820	$0	4.00%
Not provided	27	$4,815,000	$178,333	$1,705	3.23%
Asian	16	$3,230,000	$201,875	$2,259	3.02%
American Indian	2	$450,000	$225,000	$1,880	2.75%
Black	1	$115,000	$115,000	$1,736	3.00%

Approval Rates

Total approvals of all applications
84.42%

The Fountain Trust Company has a below average approval rate.

Pick Rate

Approvals leading to origination
74.46%

The Fountain Trust Company has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	505	$98,415,000	$194,881

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	505	$98,415,000	$194,881

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	38	$6,780,000	$178,421	$1,527	3.66%
40-60%	105	$19,185,000	$182,714	$1,636	3.04%
60-80%	244	$48,470,000	$198,648	$1,742	3.53%
80-100%	106	$22,980,000	$216,792	$1,907	3.29%
Under 20%	6	$360,000	$60,000	$1,665	4.48%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
The Fountain Trust Company	104 S Railroad Street Battle Ground, IN 47920	Full Service B&M	$22,197
The Fountain Trust Company	106 N Monroe St Williamsport, IN 47993	Full Service B&M	$14,035
The Fountain Trust Company	110 E State St Kingman, IN 47952	Full Service B&M	$34,375
The Fountain Trust Company	110 E Washington St Waynetown, IN 47990	Full Service B&M	$23,027
The Fountain Trust Company	113 W Main St Darlington, IN 47940	Full Service B&M	$24,622
The Fountain Trust Company	1250 N Lincoln Rd Ste A Rockville, IN 47872	Full Service B&M	$35,668
The Fountain Trust Company	1700 E Main Street Crawfordsville, IN 47933	Full Service B&M	$18,440
The Fountain Trust Company	206 S Main St Veedersburg, IN 47987	Full Service B&M	$15,119
The Fountain Trust Company	214 E 2nd St Veedersburg, IN 47987	Full Service B&M	$16,836
The Fountain Trust Company	302 Ferry St Ste 100 Lafayette, IN 47901	Full Service B&M	$6,828
The Fountain Trust Company	309 South Prairie Brookston, IN 47923	Full Service B&M	$54,858
The Fountain Trust Company	324 South Main Street Burnettsville, IN 47926	Full Service B&M	$22,147
The Fountain Trust Company	427 E Main St Attica, IN 47918	Full Service B&M	$48,250
The Fountain Trust Company	615 3rd St Covington, IN 47932	Full Service B&M	$142,961
The Fountain Trust Company	811 N Creasy Ln Lafayette, IN 47905	Full Service B&M	$17,109
The Fountain Trust Company	902 North Sixth Street Monticello, IN 47960	Full Service B&M	$20,396

For 2021, The Fountain Trust Company had 16 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$18,134
Net interest income	$16,935
Total noninterest income	$5,588
Gross Fiduciary activities income	$90
Service charges on deposit accounts	$1,058
Trading account gains and fees	$0
Additional Noninterest Income	$4,440
Pre-tax net operating income	$7,916
Securities gains (or losses, -)	$694
Income before extraordinary items	$7,098
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,098
Minority interest net income	$0
Net income	$7,098
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$6,528

The Fountain Trust Company's gross interest income from loans was $18,134,000.
The Fountain Trust Company's net interest income from loans was $16,935,000.
The Fountain Trust Company's fee based income from loans was $1,058,000.
The Fountain Trust Company's net income from loans was $7,098,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,199
Provision for credit losses	$-67
Total noninterest expense	$14,674
Salaries and employee benefits	$8,774
Premises and equipment expense	$1,564
Additional noninterest expense	$4,336
Applicable income taxes	$1,512
Net charge-offs	$-21
Cash dividends	$3,065

The Fountain Trust Company's interest expense for loans was $1,199,000.
The Fountain Trust Company's payroll and benefits expense were $8,774,000.
The Fountain Trust Company's property, plant and equipment expenses $1,564,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	1.0%
HELOC loans	3.0%
All other family	1.0%
Commercial & industrial loans	3.0%
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	$540,999
Deposits held in domestic offices	$540,999
Deposits by Individuals, partnerships, and corporations	$473,033
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$67,965
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	$314,906
Demand deposits	$204,922
Nontransaction accounts	$226,092
Money market deposit accounts (MMDAs)	$38,761
Other savings deposits (excluding MMDAs)	$110,672
Total time deposits	$76,661
Total time and savings deposits	$336,076
Noninterest-bearing deposits	$169,213
Interest-bearing deposits	$371,786
Retail deposits	$527,497
IRAs and Keogh plan accounts	$14,154
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$601,635
Cash & Balances due from depository institutions	$37,968
Interest-bearing balances	$32,506
Total securities	$256,611
Federal funds sold & reverse repurchase	$0
Net loans and leases	$285,199
Loan and leases loss allowance	$4,026
Trading account assets	$0
Bank premises and fixed assets	$6,050
Other real estate owned	$41
Goodwill and other intangibles	$5,204
All other assets	$10,562

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$601,635
Total Liabilities	$542,185
Total deposits	$540,999
Interest-bearing deposits	$371,786
Deposits held in domestic offices	$540,999
% insured (estimated)	$75
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$1,186

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$285,199
Loan and leases loss allowance	$4,026
Total loans and leases (domestic)	$289,225
All real estate loans	$233,868
Real estate loans in domestic offices	$233,868
Construction and development loans	$6,197
Residential 1-4 family construction	$2,120
Other construction, all land development and other land	$4,077
Loans secured by nonfarm nonresidential properties	$63,596
Nonfarm nonresidential secured by owner-occupied properties	$25,288
Commercial real estate & other non-farm, non-residential	$38,308
Multifamily residential real estate	$5,107
1-4 family residential loans	$85,121
Farmland loans	$73,847
Loans held in foreign offices	$0
Farm loans	$25,294
Commercial and industrial loans	$21,776
To non-U.S. addressees	$0
Loans to individuals	$7,777
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$5,176
Other loans to individuals	$2,601
All other loans & leases	$510
Loans to foreign governments and official institutions	$0
Other loans	$84
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	$260
Non 1-4 family restructured loans & leases	$260
Total loans and leases (foreign)	$0

The Fountain Trust Company had $285,199,000 of loans outstanding in 2021. $233,868,000 of loans were in real estate loans. $6,197,000 of loans were in development loans. $5,107,000 of loans were in multifamily mortgage loans. $85,121,000 of loans were in 1-4 family mortgage loans. $25,294,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,176,000 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	218	$47,539	$218,069
Nonfarm, nonresidential loans - <$100k	67	$3,167	$47,269
Nonfarm, nonresidential loans - $100-250k	64	$8,824	$137,875
Nonfarm, nonresidential loans - $250k-1MM	87	$35,548	$408,598
Commercial & Industrial, US addressed loans - <$1MM	277	$20,139	$72,704
Commercial & Industrial, US addressed loans - <$100k	182	$4,269	$23,456
Commercial & Industrial, US addressed loans - $100-250k	59	$4,794	$81,254
Commercial & Industrial, US addressed loans - $250k-1MM	36	$11,076	$307,667
Farmland loans - <$1MM	191	$31,429	$164,550
Farmland loans - <$100k	48	$2,362	$49,208
Farmland loans - $100-250k	80	$11,340	$141,750
Farmland loans - $250k-1MM	63	$17,727	$281,381
Agriculture operations loans - <$1MM	223	$10,850	$48,655
Agriculture operations loans - <$100k	155	$3,497	$22,561
Agriculture operations loans - $100-250k	45	$3,404	$75,644
Agriculture operations loans - $250k-1MM	23	$3,949	$171,696