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

Jump to:

Mortgage Data

Bank 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 7.12% 3/28/24
30 Year Conventional Refi 6.86% 3/28/24
30 Year Cash-out Refi 6.84% 3/28/24
15 Year Conventional Purchase 7.69% 3/28/24
15 Year Conventional Refi 6.75% 3/28/24
15 Year Cash-out Refi 6.75% 3/28/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from The Fountain Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

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 The Fountain Trust Company 30 Year Conventional Loans gold The Fountain Trust Company 30 Year Conventional Loans gold 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.

    Security Federal Savings Bank
    Similarity Rank: 238
    The Fountain Trust Company
    Similarity Rank: 672
    TEACHERS CREDIT UNION
    Similarity Rank: 938
    Union Savings Bank
    Similarity Rank: 990
    First Farmers Bank and Trust Company
    Similarity Rank: 1188
    PURDUE FEDERAL CREDIT UNION
    Similarity Rank: 2193
    UNIVERSITY LENDING GROUP, LLC
    Similarity Rank: 3420
    Horizon Bank
    Similarity Rank: 3465
    1st Source Bank
    Similarity Rank: 3782
    Old National Bank
    Similarity Rank: 3800

    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