Kentucky Farmers Bank Corporation Mortgage Rates, Fees & Info

Catlettsburg, KY

LEI: 549300CGYC6O4770DL96

Tax ID: 61-0245510

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Kentucky Farmers Bank Corporation is a smaller bank specializing in Home Purchase and Refi loans. Kentucky Farmers Bank Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Lexington, Cape Coral, Nashville, and Richmond among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Kentucky Farmers Bank Corporation 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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    Originations

    95

    Origination Dollar Volume (All Markets)

    $13,575,000

    Employee count

    56

    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
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 80 $8,320,000 $104,000 $0 0.00%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 6 $3,470,000 $578,333 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $665,000 $665,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
    Outside of Metro Areas 3 $285,000 $95,000 $0 0.00%
    Richmond-Berea, KY (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    MORRISTOWN, TN (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Portsmouth, OH (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Mount Sterling, KY (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
    Kentucky Farmers Bank Corporation's top markets include Huntington, Lexington, Cape Coral, Nashville, and Richmond among others.

    Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 95 $13,575,000 $142,895 $0 0.00%

    For 2018, Kentucky Farmers Bank Corporation's most frequently originated type of loan was Conventional, with 95 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 55 $7,865,000 $143,000 $0 0.00%
    Refi 23 $4,745,000 $206,304 $0 0.00%
    Other 10 $610,000 $61,000 $0 0.00%
    Home Improvement 7 $355,000 $50,714 $0 0.00%

    For 2018, Kentucky Farmers Bank Corporation's most frequently cited loan purpose was Home Purchase, with 55 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 95 $13,575,000 $142,895 $0 0.00%

    For 2018, Kentucky Farmers Bank Corporation's most frequently cited loan duration was Other, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 54 $2,890,000 $53,519 $0 0.00%
    $100k-200k 27 $3,635,000 $134,630 $0 0.00%
    $200k-400k 8 $2,420,000 $302,500 $0 0.00%
    $600k-1MM 3 $2,215,000 $738,333 $0 0.00%
    $400k-600k 2 $970,000 $485,000 $0 0.00%
    $1MM+ 1 $1,445,000 $1,445,000 $0 0.00%

    2018 saw Kentucky Farmers Bank Corporation place emphasis on $100,000 or less loans with 54 originations, totaling $2,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 25 $1,335,000 $53,400 $0 0.00%
    $100k-150k 21 $2,255,000 $107,381 $0 0.00%
    $75k-100k 14 $1,280,000 $91,429 $0 0.00%
    $50k-75k 13 $1,455,000 $111,923 $0 0.00%
    $150k-250k 9 $2,005,000 $222,778 $0 0.00%
    $250k+ 3 $1,795,000 $598,333 $0 0.00%

    Kentucky Farmers Bank Corporation lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $100k-150k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 95 $13,575,000 $142,895 $0 0.00%

    Kentucky Farmers Bank Corporation lent most frequently to those with DTI ratios of Exempt%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 88 $10,310,000 $117,159 $0 0.00%
    Not applicable 6 $3,070,000 $511,667 $0 0.00%
    Asian 1 $195,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.78%

    Kentucky Farmers Bank Corporation has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.84%

    Kentucky Farmers Bank Corporation has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 95 $13,575,000 $142,895

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,495,000 $831,667
    Single Family (1-4 Units):Manufactured 8 $340,000 $42,500
    Single Family (1-4 Units):Site-Built 84 $10,740,000 $127,857

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Kentucky Housing Corporation FHA mortgage Problem with a credit reporting company's investigation into an existing problem 1 20.0%
    Kentucky Housing Corporation FHA mortgage Trouble during payment process 2 40.0%
    Kentucky Housing Corporation Other type of mortgage Struggling to pay mortgage 1 20.0%
    Kentucky Housing Corporation VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Kentucky Farmers Bank Corporation 2500 Broadway Catlettsburg, KY 41129 Full Service B&M $45,706
    Kentucky Farmers Bank Corporation 835 Carter Avenue Ashland, KY 41101 Full Service B&M $29,098
    Kentucky Farmers Bank Corporation U.S. Highway 60 Boyd County, KY 41101 Full Service B&M $54,207

    For 2018, Kentucky Farmers Bank Corporation had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,136
    Net interest income $7,698
    Total noninterest income $1,680
    Gross Fiduciary activities income $771
    Service charges on deposit accounts $350
    Trading account gains and fees $0
    Additional Noninterest Income $559
    Pre-tax net operating income $3,464
    Securities gains (or losses, -) $-480
    Income before extraordinary items $2,984
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,984
    Minority interest net income $0
    Net income $2,984
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,464

    Kentucky Farmers Bank Corporation's gross interest income from loans was $8,136,000.
    Kentucky Farmers Bank Corporation's net interest income from loans was $7,698,000.
    Kentucky Farmers Bank Corporation's fee based income from loans was $350,000.
    Kentucky Farmers Bank Corporation's net income from loans was $2,984,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $438
    Provision for credit losses $57
    Total noninterest expense $5,857
    Salaries and employee benefits $3,173
    Premises and equipment expense $500
    Additional noninterest expense $2,184
    Applicable income taxes $0
    Net charge-offs $101
    Cash dividends $1,600

    Kentucky Farmers Bank Corporation's interest expense for loans was $438,000.
    Kentucky Farmers Bank Corporation's payroll and benefits expense were $3,173,000.
    Kentucky Farmers Bank Corporation's property, plant and equipment expenses $500,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $135,435
    Deposits held in domestic offices $135,435
    Deposits by Individuals, partnerships, and corporations $125,960
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,475
    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 $52,448
    Demand deposits $32,796
    Nontransaction accounts $82,987
    Money market deposit accounts (MMDAs) $6,338
    Other savings deposits (excluding MMDAs) $45,971
    Total time deposits $30,678
    Total time and savings deposits $102,639
    Noninterest-bearing deposits $32,796
    Interest-bearing deposits $102,639
    Retail deposits $133,119
    IRAs and Keogh plan accounts $8,852
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $178,412
    Cash & Balances due from depository institutions $12,602
    Interest-bearing balances $9,327
    Total securities $77,652
    Federal funds sold & reverse repurchase $0
    Net loans and leases $82,410
    Loan and leases loss allowance $840
    Trading account assets $0
    Bank premises and fixed assets $2,554
    Other real estate owned $473
    Goodwill and other intangibles $0
    All other assets $2,721

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $178,412
    Total Liabilities $135,930
    Total deposits $135,435
    Interest-bearing deposits $102,639
    Deposits held in domestic offices $135,435
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $495

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $82,410
    Loan and leases loss allowance $840
    Total loans and leases (domestic) $83,250
    All real estate loans $63,456
    Real estate loans in domestic offices $63,456
    Construction and development loans $1,163
    Residential 1-4 family construction $595
    Other construction, all land development and other land $568
    Loans secured by nonfarm nonresidential properties $14,280
    Nonfarm nonresidential secured by owner-occupied properties $3,910
    Commercial real estate & other non-farm, non-residential $10,370
    Multifamily residential real estate $623
    1-4 family residential loans $46,196
    Farmland loans $1,194
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $8,531
    To non-U.S. addressees $0
    Loans to individuals $10,490
    Credit card loans $0
    Related Plans $579
    Consumer Auto Loans $5,923
    Other loans to individuals $3,988
    All other loans & leases $773
    Loans to foreign governments and official institutions $0
    Other loans $36
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Kentucky Farmers Bank Corporation had $82,410,000 of loans outstanding in 2018. $63,456,000 of loans were in real estate loans. $1,163,000 of loans were in development loans. $623,000 of loans were in multifamily mortgage loans. $46,196,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $5,923,000 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 54 $7,403 $137,093
    Nonfarm, nonresidential loans - <$100k 22 $760 $34,545
    Nonfarm, nonresidential loans - $100-250k 16 $1,815 $113,438
    Nonfarm, nonresidential loans - $250k-1MM 16 $4,828 $301,750
    Commercial & Industrial, US addressed loans - <$1MM 51 $4,554 $89,294
    Commercial & Industrial, US addressed loans - <$100k 29 $657 $22,655
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,327 $94,786
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $2,570 $321,250
    Farmland loans - <$1MM 3 $243 $81,000
    Farmland loans - $100-250k 2 $97 $48,500
    Farmland loans - $250k-1MM 1 $146 $146,000