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 Refi and Home Purchase loans. Kentucky Farmers Bank Corporation has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Punta Gorda, Orlando, Panama City, and North Port among others. We have data for 11 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

    137

    Origination Dollar Volume (All Markets)

    $16,195,000

    Employee count

    62

    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) 109 $12,445,000 $114,174 $0 0.00%
    Outside of Metro Areas 17 $1,515,000 $89,118 $0 0.00%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    Portsmouth, OH (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $240,000 $120,000 $0 0.00%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    Point Pleasant, WV-OH (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    BOWLING GREEN, KY (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Kentucky Farmers Bank Corporation's top markets include Huntington, Punta Gorda, Orlando, Panama City, and North Port among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 137 $16,195,000 $118,212 $0 0.00%

    For 2020, Kentucky Farmers Bank Corporation's most frequently originated type of loan was Conventional, with 137 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 69 $8,675,000 $125,725 $0 0.00%
    Home Purchase 49 $5,445,000 $111,122 $0 0.00%
    Home Improvement 16 $1,740,000 $108,750 $0 0.00%
    Other 3 $335,000 $111,667 $0 0.00%

    For 2020, Kentucky Farmers Bank Corporation's most frequently cited loan purpose was Refi, with 69 originations. The 2nd most popular reason was Home Purchase, with 49 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 137 $16,195,000 $118,212 $0 0.00%

    For 2020, Kentucky Farmers Bank Corporation's most frequently cited loan duration was Other, with 137 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 75 $4,485,000 $59,800 $0 0.00%
    $100k-200k 41 $5,655,000 $137,927 $0 0.00%
    $200k-400k 20 $5,460,000 $273,000 $0 0.00%
    $400k-600k 1 $595,000 $595,000 $0 0.00%

    2020 saw Kentucky Farmers Bank Corporation place emphasis on $100,000 or less loans with 75 originations, totaling $4,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 30 $1,790,000 $59,667 $0 0.00%
    $50k-75k 28 $2,770,000 $98,929 $0 0.00%
    $75k-100k 26 $2,490,000 $95,769 $0 0.00%
    $100k-150k 23 $2,885,000 $125,435 $0 0.00%
    $150k-250k 15 $2,695,000 $179,667 $0 0.00%
    $250k+ 6 $1,590,000 $265,000 $0 0.00%

    Kentucky Farmers Bank Corporation lent most frequently to those with incomes in the $50k or less range, with 30 originations. The second most popular income band? $50k-75k, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 137 $16,195,000 $118,212 $0 0.00%

    Kentucky Farmers Bank Corporation lent most frequently to those with DTI ratios of Exempt%, with 137 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 129 $14,635,000 $113,450 $0 0.00%
    Not applicable 6 $1,360,000 $226,667 $0 0.00%
    Not provided 1 $105,000 $105,000 $0 0.00%
    Filipino 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    80.35%

    Kentucky Farmers Bank Corporation has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    67.15%

    Kentucky Farmers Bank Corporation has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 137 $16,195,000 $118,212

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $725,000 $241,667
    Single Family (1-4 Units):Manufactured 12 $820,000 $68,333
    Single Family (1-4 Units):Site-Built 122 $14,650,000 $120,082

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Kentucky Housing Corporation FHA mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Kentucky Farmers Bank Corporation 2500 Broadway Catlettsburg, KY 41129 Full Service B&M $53,059
    Kentucky Farmers Bank Corporation 4393 Highway 2565 Louisa, KY 41230 Full Service B&M $21,452
    Kentucky Farmers Bank Corporation 835 Carter Avenue Ashland, KY 41101 Full Service B&M $36,058
    Kentucky Farmers Bank Corporation U.S. Highway 60 Boyd County, KY 41101 Full Service B&M $69,810

    For 2020, Kentucky Farmers Bank Corporation had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,163
    Net interest income $9,466
    Total noninterest income $2,660
    Gross Fiduciary activities income $999
    Service charges on deposit accounts $340
    Trading account gains and fees $0
    Additional Noninterest Income $1,321
    Pre-tax net operating income $4,709
    Securities gains (or losses, -) $-48
    Income before extraordinary items $4,661
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,661
    Minority interest net income $0
    Net income $4,661
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,709

    Kentucky Farmers Bank Corporation's gross interest income from loans was $10,163,000.
    Kentucky Farmers Bank Corporation's net interest income from loans was $9,466,000.
    Kentucky Farmers Bank Corporation's fee based income from loans was $340,000.
    Kentucky Farmers Bank Corporation's net income from loans was $4,661,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $697
    Provision for credit losses $183
    Total noninterest expense $7,234
    Salaries and employee benefits $3,862
    Premises and equipment expense $531
    Additional noninterest expense $2,841
    Applicable income taxes $0
    Net charge-offs $94
    Cash dividends $9,600

    Kentucky Farmers Bank Corporation's interest expense for loans was $697,000.
    Kentucky Farmers Bank Corporation's payroll and benefits expense were $3,862,000.
    Kentucky Farmers Bank Corporation's property, plant and equipment expenses $531,000.

    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 9.0%
    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 $193,686
    Deposits held in domestic offices $193,686
    Deposits by Individuals, partnerships, and corporations $179,921
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,730
    Deposits by Commercial banks and other depository institutions in U.S. $2,035
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $92,231
    Demand deposits $57,039
    Nontransaction accounts $101,455
    Money market deposit accounts (MMDAs) $2,796
    Other savings deposits (excluding MMDAs) $60,594
    Total time deposits $38,066
    Total time and savings deposits $136,647
    Noninterest-bearing deposits $57,039
    Interest-bearing deposits $136,647
    Retail deposits $188,193
    IRAs and Keogh plan accounts $8,940
    Brokered deposits $1,737
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $237,227
    Cash & Balances due from depository institutions $26,264
    Interest-bearing balances $18,085
    Total securities $80,424
    Federal funds sold & reverse repurchase $1,143
    Net loans and leases $123,181
    Loan and leases loss allowance $963
    Trading account assets $0
    Bank premises and fixed assets $3,054
    Other real estate owned $282
    Goodwill and other intangibles $248
    All other assets $2,631

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $237,227
    Total Liabilities $194,234
    Total deposits $193,686
    Interest-bearing deposits $136,647
    Deposits held in domestic offices $193,686
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $548

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $123,181
    Loan and leases loss allowance $963
    Total loans and leases (domestic) $124,144
    All real estate loans $94,995
    Real estate loans in domestic offices $94,995
    Construction and development loans $2,358
    Residential 1-4 family construction $523
    Other construction, all land development and other land $1,835
    Loans secured by nonfarm nonresidential properties $29,094
    Nonfarm nonresidential secured by owner-occupied properties $12,727
    Commercial real estate & other non-farm, non-residential $16,367
    Multifamily residential real estate $1,997
    1-4 family residential loans $60,298
    Farmland loans $1,248
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $17,750
    To non-U.S. addressees $0
    Loans to individuals $10,087
    Credit card loans $0
    Related Plans $382
    Consumer Auto Loans $6,035
    Other loans to individuals $3,670
    All other loans & leases $1,541
    Loans to foreign governments and official institutions $0
    Other loans $51
    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 $150
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Kentucky Farmers Bank Corporation had $123,181,000 of loans outstanding in 2020. $94,995,000 of loans were in real estate loans. $2,358,000 of loans were in development loans. $1,997,000 of loans were in multifamily mortgage loans. $60,298,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $6,035,000 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 94 $14,726 $156,660
    Nonfarm, nonresidential loans - <$100k 33 $1,286 $38,970
    Nonfarm, nonresidential loans - $100-250k 34 $4,111 $120,912
    Nonfarm, nonresidential loans - $250k-1MM 27 $9,329 $345,519
    Commercial & Industrial, US addressed loans - <$1MM 160 $9,810 $61,313
    Commercial & Industrial, US addressed loans - <$100k 124 $3,121 $25,169
    Commercial & Industrial, US addressed loans - $100-250k 24 $2,992 $124,667
    Commercial & Industrial, US addressed loans - $250k-1MM 12 $3,697 $308,083
    Farmland loans - <$1MM 9 $1,248 $138,667
    Farmland loans - <$100k 1 $40 $40,000
    Farmland loans - $100-250k 4 $449 $112,250
    Farmland loans - $250k-1MM 4 $759 $189,750