Whitaker Bank Mortgage Rates, Fees & Info
Lexington, KYLEI: 549300C3C8C6TSYT1R20
Tax ID: 61-1179902
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Mortgage Data
Bank Data
Review & Overview
Whitaker Bank is a smaller bank specializing in Home Purchase and Refi loans. Whitaker Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lexington, Mount Sterling, Richmond, Frankfort, and Louisville among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Whitaker Bank 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.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.40% | 4/28/24 |
| 30 Year Conventional Refi | 6.45% | 4/28/24 |
| 30 Year FHA Refi | 6.27% | 4/28/24 |
| 15 Year Conventional Purchase | 5.68% | 4/28/24 |
| 15 Year Conventional Refi | 5.79% | 4/28/24 |
| 15 Year Cash-out Refi | 5.79% | 4/28/24 |
| 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. | ||
Whitaker Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
270Origination Dollar Volume (All Markets)
$28,700,000Employee count
277Top 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 | 142 | $10,020,000 | $70,563 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 48 | $9,130,000 | $190,208 | $0 | 0.00% |
| Mount Sterling, KY (FHA|USDA|VA) | 41 | $3,595,000 | $87,683 | $0 | 0.00% |
| Richmond-Berea, KY (FHA|USDA|VA) | 7 | $1,955,000 | $279,286 | $0 | 0.00% |
| Frankfort, KY (FHA|USDA|VA) | 14 | $1,650,000 | $117,857 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $0 | 0.00% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 4 | $450,000 | $112,500 | $0 | 0.00% |
| London, KY (FHA|USDA|VA) | 5 | $405,000 | $81,000 | $0 | 0.00% |
| OWENSBORO, KY (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Danville, KY (FHA|USDA|VA) | 4 | $180,000 | $45,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Whitaker Bank 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 | 270 | $28,700,000 | $106,296 | $0 | 0.00% |
For 2019, Whitaker Bank's most frequently originated type of loan was Conventional, with 270 originations.
Loan Reason
For 2019, Whitaker Bank's most frequently cited loan purpose was Home Purchase, with 144 originations. The 2nd most popular reason was Refi, with 86 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 270 | $28,700,000 | $106,296 | $0 | 0.00% |
For 2019, Whitaker Bank's most frequently cited loan duration was Other, with 270 originations.
Loan Sizing
2019 saw Whitaker Bank place emphasis on $100,000 or less loans with 200 originations, totaling $10,420,000 in origination value.
Applicant Income
Whitaker Bank lent most frequently to those with incomes in the $50k or less range, with 77 originations. The second most popular income band? $50k-75k, with 53 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 270 | $28,700,000 | $106,296 | $0 | 0.00% |
Whitaker Bank lent most frequently to those with DTI ratios of Exempt%, with 270 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.55%
Whitaker Bank has a below average approval rate.
Pick Rate
Approvals leading to origination89.63%
Whitaker Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 270 | $28,700,000 | $106,296 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Whitaker Bank | 100 Financial Way Georgetown, KY 40324 | Full Service B&M | $14,407 |
| Whitaker Bank | 100 N Main Corbin, KY 40701 | Full Service B&M | $51,896 |
| Whitaker Bank | 1025 South Highway 25 West Williamsburg, KY 40769 | Full Service B&M | $7,848 |
| Whitaker Bank | 1104 North College Street Harrodsburg, KY 40330 | Limited, Drive-thru | $0 |
| Whitaker Bank | 1280 Hwy 770 Corbin, KY 40701 | Full Service B&M | $4,649 |
| Whitaker Bank | 130 S. Main Street Stanton, KY 40380 | Full Service B&M | $66,095 |
| Whitaker Bank | 130 West Main Street Frankfort, KY 40601 | Full Service B&M | $55,342 |
| Whitaker Bank | 1319 Cumberland Falls Highway Corbin, KY 40701 | Full Service B&M | $13,805 |
| Whitaker Bank | 1400 East Master Street Corbin, KY 40701 | Full Service B&M | $23,070 |
| Whitaker Bank | 1489 Flemingsburg Morehead, KY 40351 | Full Service B&M | $10,077 |
| Whitaker Bank | 1818 S Ky Highway 15 Hazard, KY 41702 | Full Service B&M | $21,642 |
| Whitaker Bank | 187 Main Street Whitesburg, KY 41858 | Full Service B&M | $44,113 |
| Whitaker Bank | 191 Ky 15 South Campton, KY 41301 | Full Service B&M | $20,461 |
| Whitaker Bank | 2001 Pleasant Ridge Drive Lexington, KY 40505 | Full Service B&M | $53,624 |
| Whitaker Bank | 2097 Harrodsburg Road Lexington, KY 40504 | Limited, Drive-thru | $4,632 |
| Whitaker Bank | 211 South Main Street Harrodsburg, KY 40330 | Full Service B&M | $56,597 |
| Whitaker Bank | 2311 Paris Pike Drive Lexington, KY 40505 | Full Service B&M | $55,772 |
| Whitaker Bank | 2510 Nicholasville Road Lexington, KY 40503 | Full Service Retail | $7,466 |
| Whitaker Bank | 264 Versailles Road Frankfort, KY 40601 | Full Service B&M | $15,047 |
| Whitaker Bank | 275 Indian Mound Drive Mount Sterling, KY 40353 | Full Service B&M | $26,896 |
| Whitaker Bank | 30 West Main Street Mount Sterling, KY 40353 | Full Service B&M | $45,856 |
| Whitaker Bank | 39 Public Square Lancaster, KY 40444 | Full Service B&M | $41,383 |
| Whitaker Bank | 4085 Camargo Road Mount Sterling, KY 40353 | Full Service B&M | $10,499 |
| Whitaker Bank | 4459 Main Street Clay City, KY 40312 | Full Service B&M | $18,769 |
| Whitaker Bank | 777 Morton Blvd Hazard, KY 41701 | Full Service B&M | $11,711 |
| Whitaker Bank | 920 South College Street Harrodsburg, KY 40330 | Full Service B&M | $10,965 |
| Whitaker Bank | 9387 Hwy 805 Jenkins, KY 41537 | Full Service B&M | $14,303 |
| Whitaker Bank | Danville Street And Maple Avenue Lancaster, KY 40444 | Full Service B&M | $3,971 |
| Whitaker Bank | Governors Ln, 998 Governors Ln Lexington, KY 40513 | Full Service B&M | $9,832 |
| Whitaker Bank | Highway 15 North Whitesburg, KY 41858 | Full Service B&M | $21,296 |
| Whitaker Bank | Highways 15 And 7 Isom, KY 41824 | Full Service B&M | $13,368 |
| Whitaker Bank | Main And Broadway Georgetown, KY 40324 | Full Service B&M | $108,190 |
| Whitaker Bank | Main Street At Carey Avenue Morehead, KY 40351 | Full Service B&M | $42,412 |
| Whitaker Bank | U.S. 25 Georgetown, KY 40324 | Full Service B&M | $14,609 |
| Whitaker Bank | U.S. Highway 127 Frankfort, KY 40601 | Full Service B&M | $10,907 |
For 2019, Whitaker Bank had 35 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $44,408 |
| Net interest income | $41,791 |
| Total noninterest income | $12,381 |
| Gross Fiduciary activities income | $3,328 |
| Service charges on deposit accounts | $4,367 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,686 |
| Pre-tax net operating income | $14,376 |
| Securities gains (or losses, -) | $5 |
| Income before extraordinary items | $12,761 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $12,761 |
| Minority interest net income | $0 |
| Net income | $12,761 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $12,756 |
Whitaker Bank's gross interest income from loans was $44,408,000.
Whitaker Bank's net interest income from loans was $41,791,000.
Whitaker Bank's fee based income from loans was $4,367,000.
Whitaker Bank's net income from loans was $12,761,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,617 |
| Provision for credit losses | $-200 |
| Total noninterest expense | $39,996 |
| Salaries and employee benefits | $18,449 |
| Premises and equipment expense | $6,712 |
| Additional noninterest expense | $14,835 |
| Applicable income taxes | $1,620 |
| Net charge-offs | $736 |
| Cash dividends | $6,750 |
Whitaker Bank's interest expense for loans was $2,617,000.
Whitaker Bank's payroll and benefits expense were $18,449,000.
Whitaker Bank's property, plant and equipment expenses $6,712,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 3.0% |
| Real Estate loans | 3.0% |
| Construction & Land Development loans | 7.0% |
| Nonfarm, nonresidential loans | 2.0% |
| Multifamily residential loans | 2.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 0.0% |
| All other family | 2.0% |
| 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 | $912,707 |
| Deposits held in domestic offices | $912,707 |
| Deposits by Individuals, partnerships, and corporations | $845,529 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $67,129 |
| Deposits by Commercial banks and other depository institutions in U.S. | $49 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $108,609 |
| Demand deposits | $66,284 |
| Nontransaction accounts | $804,098 |
| Money market deposit accounts (MMDAs) | $87,575 |
| Other savings deposits (excluding MMDAs) | $523,146 |
| Total time deposits | $193,378 |
| Total time and savings deposits | $846,423 |
| Noninterest-bearing deposits | $248,362 |
| Interest-bearing deposits | $664,345 |
| Retail deposits | $890,228 |
| IRAs and Keogh plan accounts | $51,145 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,155,026 |
| Cash & Balances due from depository institutions | $36,338 |
| Interest-bearing balances | $16,670 |
| Total securities | $421,778 |
| Federal funds sold & reverse repurchase | $16,504 |
| Net loans and leases | $618,543 |
| Loan and leases loss allowance | $9,338 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $22,815 |
| Other real estate owned | $5,990 |
| Goodwill and other intangibles | $15,366 |
| All other assets | $17,692 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,155,026 |
| Total Liabilities | $962,893 |
| Total deposits | $912,707 |
| Interest-bearing deposits | $664,345 |
| Deposits held in domestic offices | $912,707 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $35,512 |
| Trading liabilities | $0 |
| Other borrowed funds | $7,603 |
| Subordinated debt | $0 |
| All other liabilities | $7,071 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $618,543 |
| Loan and leases loss allowance | $9,338 |
| Total loans and leases (domestic) | $627,881 |
| All real estate loans | $550,816 |
| Real estate loans in domestic offices | $550,816 |
| Construction and development loans | $44,698 |
| Residential 1-4 family construction | $8,646 |
| Other construction, all land development and other land | $36,052 |
| Loans secured by nonfarm nonresidential properties | $203,312 |
| Nonfarm nonresidential secured by owner-occupied properties | $138,288 |
| Commercial real estate & other non-farm, non-residential | $65,024 |
| Multifamily residential real estate | $40,346 |
| 1-4 family residential loans | $222,379 |
| Farmland loans | $40,081 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,666 |
| Commercial and industrial loans | $34,362 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $34,457 |
| Credit card loans | $2,585 |
| Related Plans | $162 |
| Consumer Auto Loans | $11,176 |
| Other loans to individuals | $20,534 |
| All other loans & leases | $4,581 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $2,622 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $815 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $17,589 |
| Non 1-4 family restructured loans & leases | $12,781 |
| Total loans and leases (foreign) | $0 |
Whitaker Bank had $618,543,000 of loans outstanding in 2019. $550,816,000 of loans were in real estate loans. $44,698,000 of loans were in development loans. $40,346,000 of loans were in multifamily mortgage loans. $222,379,000 of loans were in 1-4 family mortgage loans. $3,666,000 of loans were in farm loans. $2,585,000 of loans were in credit card loans. $11,176,000 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 | 493 | $75,743 | $153,637 |
| Nonfarm, nonresidential loans - <$100k | 177 | $5,779 | $32,650 |
| Nonfarm, nonresidential loans - $100-250k | 158 | $15,727 | $99,538 |
| Nonfarm, nonresidential loans - $250k-1MM | 158 | $54,237 | $343,272 |
| Commercial & Industrial, US addressed loans - <$1MM | 640 | $21,689 | $33,889 |
| Commercial & Industrial, US addressed loans - <$100k | 555 | $9,204 | $16,584 |
| Commercial & Industrial, US addressed loans - $100-250k | 54 | $4,133 | $76,537 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 31 | $8,352 | $269,419 |
| Farmland loans - <$1MM | 342 | $25,034 | $73,199 |
| Farmland loans - <$100k | 203 | $6,415 | $31,601 |
| Farmland loans - $100-250k | 99 | $9,437 | $95,323 |
| Farmland loans - $250k-1MM | 40 | $9,182 | $229,550 |
| Agriculture operations loans - <$1MM | 210 | $3,665 | $17,452 |
| Agriculture operations loans - <$100k | 205 | $2,865 | $13,976 |
| Agriculture operations loans - $100-250k | 3 | $334 | $111,333 |
| Agriculture operations loans - $250k-1MM | 2 | $466 | $233,000 |