Limestone Bank Mortgage Rates, Fees & Info

Louisville, KY

LEI: 549300FOE3Q0OTXTQ820

Tax ID: 75-3010758

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Limestone Bank is a smaller bank specializing in Home Purchase and Refi loans. Limestone Bank has a high proportion of conventional loans. Their top markets include Louisville/jefferson County, Lexington, Bowling Green, Nashville, and Key West among others. Limestone Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

134

Origination Dollar Volume (All Markets)

$82,710,000

Employee count

227

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 37 $46,645,000 $1,260,676 $0 0.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 10 $7,370,000 $737,000 $0 0.00%
BOWLING GREEN, KY (FHA|USDA|VA) 12 $5,730,000 $477,500 $0 0.00%
Outside of Metro Areas 39 $5,385,000 $138,077 $0 0.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 3 $5,065,000 $1,688,333 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $3,005,000 $3,005,000 $0 0.00%
EVANSVILLE, IN-KY (FHA|USDA|VA) 4 $2,480,000 $620,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $1,765,000 $1,765,000 $0 0.00%
OWENSBORO, KY (FHA|USDA|VA) 10 $1,600,000 $160,000 $0 0.00%
Frankfort, KY (FHA|USDA|VA) 4 $1,600,000 $400,000 $0 0.00%
Glasgow, KY (FHA|USDA|VA) 6 $650,000 $108,333 $0 0.00%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 2 $530,000 $265,000 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Campbellsville, KY (FHA|USDA|VA) 3 $145,000 $48,333 $0 0.00%

Limestone Bank 's top markets include Louisville/jefferson County, Lexington, Bowling Green, Nashville, and Key West among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 134 $82,710,000 $617,239 $0 0.00%

For the 2021 period, Limestone Bank 's most frequently originated loan type of loans were Conventional, with 134 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 84 $62,980,000 $749,762 $0 0.00%
Refi 39 $18,505,000 $474,487 $0 0.00%
Other 6 $570,000 $95,000 $0 0.00%
Home Improvement 5 $655,000 $131,000 $0 0.00%

For the 2021, Limestone Bank 's most frequently cited loan purpose of loans were Home Purchase, with 84 originations. The 2nd most popular reason of loans were Refi, with 39 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 134 $82,710,000 $617,239 $0 0.00%

For the 2021, Limestone Bank 's most frequently cited loan length of loans were Other, with 134 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 47 $3,145,000 $66,915 $0 0.00%
$100k-200k 44 $6,450,000 $146,591 $0 0.00%
$200k-400k 22 $5,820,000 $264,545 $0 0.00%
$1MM+ 14 $62,310,000 $4,450,714 $0 0.00%
$600k-1MM 5 $4,095,000 $819,000 $0 0.00%
$400k-600k 2 $890,000 $445,000 $0 0.00%

2021 saw Limestone Bank place emphasis on $100,000 or less loans with 47 originations, totaling $3,145,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 35 $3,175,000 $90,714 $0 0.00%
$50k-75k 22 $3,590,000 $163,182 $0 0.00%
$75k-100k 11 $1,415,000 $128,636 $0 0.00%
$100k-150k 10 $1,590,000 $159,000 $0 0.00%
$250k+ 8 $3,500,000 $437,500 $0 0.00%
$150k-250k 5 $835,000 $167,000 $0 0.00%

Limestone Bank lent most frequently to those with incomes in the $50k or less range, with 35 originations. The second most popular income band? $50k-75k, with 22 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 134 $82,710,000 $617,239 $0 0.00%

Limestone Bank lent most frequently to those with DTI ratios of Exempt%, with 134 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 43 $68,605,000 $1,595,465 $0 0.00%
White 68 $10,730,000 $157,794 $0 0.00%
Black 20 $2,620,000 $131,000 $0 0.00%
Not provided 3 $755,000 $251,667 $0 0.00%

Approval Rates

Total approvals of all applications
87.84%

Limestone Bank has an average approval rate.

Pick Rate

Approvals leading to origination
72.68%

Limestone Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 134 $82,710,000 $617,239

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
134 $82,710,000 $617,239

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Limestone Bank, Inc. 100 Highway 676 Frankfort, KY 40601 Full Service B&M $29,234
Limestone Bank, Inc. 2500 Eastpoint Parkway Louisville, KY 40223 Full Service B&M $191,030
Limestone Bank, Inc. 3250 Hayden Road Owensboro, KY 42303 Full Service B&M $0
Limestone Bank, Inc. 3332 Villa Point Owensboro, KY 42303 Full Service B&M $19,231
Limestone Bank, Inc. 3500 Frederica Street Owensboro, KY 42301 Full Service B&M $70,279
Limestone Bank, Inc. 3880 Fountainblue Lane Lexington, KY 40513 Full Service B&M $67,409
Limestone Bank, Inc. 4304 Shelbyville Road Louisville, KY 40207 Full Service B&M $3,594
Limestone Bank, Inc. 5440 Castle Highway Pleasureville, KY 40057 Full Service B&M $86,970
Limestone Bank, Inc. 646 Elm Street Eminence, KY 40019 Full Service B&M $8,822
Limestone Bank, Inc. 6980 North Preston Highway Louisville, KY 40229 Full Service B&M $69,824
Limestone Bank, Inc. 751 Campbell Lane Bowling Green, KY 42104 Full Service B&M $30,794
Limestone Bank, Inc. 949 South Dixie Highway Munfordville, KY 42765 Full Service B&M $80,683
Limestone Bank, Inc. 1006 West Main Street Glasgow, KY 42141 Full Service B&M $47,340
Limestone Bank, Inc. 112 West G L Smith Street Morgantown, KY 42261 Full Service B&M $50,665
Limestone Bank, Inc. 113 East Main Cross Street Brownsville, KY 42210 Full Service B&M $40,480
Limestone Bank, Inc. 130 West Main Street Lexington, KY 40507 Full Service B&M $31,478
Limestone Bank, Inc. 1300 North Main Street Beaver Dam, KY 42320 Full Service B&M $88,322
Limestone Bank, Inc. 155 Conestoga Parkway Shepherdsville, KY 40165 Full Service B&M $69,373
Limestone Bank, Inc. 1690 Ring Road Avenue Elizabethtown, KY 42701 Full Service B&M $47,286
Limestone Bank, Inc. 201 East Main Street Horse Cave, KY 42749 Full Service B&M $12,544
Limestone Bank, Inc. 202 North Main Street Greensburg, KY 42743 Full Service B&M $76,310
Limestone Bank, Inc. 2500 Eastpoint Parkway Louisville, KY 40223 Full Service Cyber Office $21,335

For 2021, Limestone Bank had 22 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $49,915
Net interest income $46,225
Total noninterest income $7,977
Gross Fiduciary activities income $0
Service charges on deposit accounts $2,256
Trading account gains and fees $0
Additional Noninterest Income $5,721
Pre-tax net operating income $22,564
Securities gains (or losses, -) $460
Income before extraordinary items $17,508
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $17,508
Minority interest net income $0
Net income $17,508
Sale, conversion, retirement of capital stock, net $0
Net operating income $17,144

Limestone Bank 's gross interest income from loans was $49,915,000.
Limestone Bank 's net interest income from loans was $46,225,000.
Limestone Bank 's fee based income from loans was $2,256,000.
Limestone Bank 's net income from loans was $17,508,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,690
Provision for credit losses $1,150
Total noninterest expense $30,488
Salaries and employee benefits $17,102
Premises and equipment expense $4,035
Additional noninterest expense $9,351
Applicable income taxes $5,516
Net charge-offs $2,062
Cash dividends $2,000

Limestone Bank 's interest expense for loans was $3,690,000.
Limestone Bank 's payroll and benefits expense were $17,102,000.
Limestone Bank 's property, plant and equipment expenses $4,035,000.

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 0.0%
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 $1,213,427
Deposits held in domestic offices $1,213,427
Deposits by Individuals, partnerships, and corporations $1,076,407
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $137,020
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 $561,416
Demand deposits $561,416
Nontransaction accounts $652,011
Money market deposit accounts (MMDAs) $222,577
Other savings deposits (excluding MMDAs) $163,423
Total time deposits $266,011
Total time and savings deposits $652,011
Noninterest-bearing deposits $274,208
Interest-bearing deposits $939,219
Retail deposits $1,200,027
IRAs and Keogh plan accounts $37,030
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,407,879
Cash & Balances due from depository institutions $77,568
Interest-bearing balances $67,075
Total securities $260,673
Federal funds sold & reverse repurchase $35
Net loans and leases $990,309
Loan and leases loss allowance $11,531
Trading account assets $0
Bank premises and fixed assets $21,660
Other real estate owned $0
Goodwill and other intangibles $8,241
All other assets $49,393

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,407,879
Total Liabilities $1,242,398
Total deposits $1,213,427
Interest-bearing deposits $939,219
Deposits held in domestic offices $1,213,427
% insured (estimated) $86
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $20,000
Subordinated debt $0
All other liabilities $8,971

Issued Loan Types

Type Value (in 000's)
Net loans and leases $990,309
Loan and leases loss allowance $11,531
Total loans and leases (domestic) $1,001,840
All real estate loans $708,183
Real estate loans in domestic offices $708,183
Construction and development loans $74,806
Residential 1-4 family construction $9,635
Other construction, all land development and other land $65,171
Loans secured by nonfarm nonresidential properties $345,893
Nonfarm nonresidential secured by owner-occupied properties $104,146
Commercial real estate & other non-farm, non-residential $241,747
Multifamily residential real estate $50,224
1-4 family residential loans $168,873
Farmland loans $68,387
Loans held in foreign offices $0
Farm loans $35,924
Commercial and industrial loans $220,826
To non-U.S. addressees $0
Loans to individuals $36,440
Credit card loans $0
Related Plans $5,202
Consumer Auto Loans $2,987
Other loans to individuals $28,251
All other loans & leases $468
Loans to foreign governments and official institutions $0
Other loans $208
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 $340
Non 1-4 family restructured loans & leases $340
Total loans and leases (foreign) $0

Limestone Bank had $990,309,000 of loans outstanding in 2021. $708,183,000 of loans were in real estate loans. $74,806,000 of loans were in development loans. $50,224,000 of loans were in multifamily mortgage loans. $168,873,000 of loans were in 1-4 family mortgage loans. $35,924,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,987,000 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 239 $49,289 $206,230
Nonfarm, nonresidential loans - <$100k 57 $2,043 $35,842
Nonfarm, nonresidential loans - $100-250k 79 $7,902 $100,025
Nonfarm, nonresidential loans - $250k-1MM 103 $39,344 $381,981
Commercial & Industrial, US addressed loans - <$1MM 500 $60,416 $120,832
Commercial & Industrial, US addressed loans - <$100k 286 $6,211 $21,717
Commercial & Industrial, US addressed loans - $100-250k 87 $11,194 $128,667
Commercial & Industrial, US addressed loans - $250k-1MM 127 $43,011 $338,669
Farmland loans - <$1MM 274 $23,278 $84,956
Farmland loans - <$100k 138 $4,795 $34,746
Farmland loans - $100-250k 105 $10,840 $103,238
Farmland loans - $250k-1MM 31 $7,643 $246,548
Agriculture operations loans - <$1MM 274 $7,155 $26,113
Agriculture operations loans - <$100k 239 $3,819 $15,979
Agriculture operations loans - $100-250k 27 $2,633 $97,519
Agriculture operations loans - $250k-1MM 8 $703 $87,875