Bedford Loan & Deposit Bank Mortgage Rates, Fees & Info

Bedford, KY

LEI: 549300GXRG31CBWWTR70

Tax ID: 61-0130310

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Mortgage Data

Bank Data

Review & Overview

Bedford Loan & Deposit Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bedford Loan & Deposit Bank has a high proportion of conventional loans. Their top two markets are Louisville and Madison .

Bedford Loan & Deposit Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

98

Origination Dollar Volume (All Markets)

$10,220,000

Employee count

28

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
LOUISVILLE, KY (FHA|USDA|VA) 35 $5,235,000 $149,571 $0 0.00%
Outside of Metro Areas 59 $4,775,000 $80,932 $0 0.00%
Madison, IN (FHA|USDA|VA) 4 $210,000 $52,500 $0 0.00%
Bedford Loan & Deposit Bank's top markets include Louisville and Madison among others.

Their top states include:
  • Kentucky (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 98 $10,220,000 $104,286 $0 0.00%

    For 2018, Bedford Loan & Deposit Bank's most frequently originated type of loan was Conventional, with 98 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 51 $6,795,000 $133,235 $0 0.00%
    Cash Out Refi 28 $2,550,000 $91,071 $0 0.00%
    Other 7 $285,000 $40,714 $0 0.00%
    Home Improvement 6 $310,000 $51,667 $0 0.00%
    Refi 6 $280,000 $46,667 $0 0.00%

    For 2018, Bedford Loan & Deposit Bank's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 98 $10,220,000 $104,286 $0 0.00%

    For 2018, Bedford Loan & Deposit Bank's most frequently cited loan duration was Other, with 98 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 61 $3,025,000 $49,590 $0 0.00%
    $100k-200k 24 $3,210,000 $133,750 $0 0.00%
    $200k-400k 11 $2,675,000 $243,182 $0 0.00%
    $400k-600k 1 $505,000 $505,000 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2018 saw Bedford Loan & Deposit Bank place emphasis on $100,000 or less loans with 61 originations, totaling $3,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 29 $1,845,000 $63,621 $0 0.00%
    $50k-75k 23 $1,675,000 $72,826 $0 0.00%
    $100k-150k 14 $1,560,000 $111,429 $0 0.00%
    $75k-100k 13 $1,935,000 $148,846 $0 0.00%
    $150k-250k 10 $1,840,000 $184,000 $0 0.00%
    $250k+ 2 $970,000 $485,000 $0 0.00%

    Bedford Loan & Deposit Bank lent most frequently to those with incomes in the $50k or less range, with 29 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 98 $10,220,000 $104,286 $0 0.00%

    Bedford Loan & Deposit Bank lent most frequently to those with DTI ratios of Exempt%, with 98 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 91 $9,795,000 $107,637 $0 0.00%
    Not applicable 6 $370,000 $61,667 $0 0.00%
    American Indian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.74%

    Bedford Loan & Deposit Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.73%

    Bedford Loan & Deposit Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 98 $10,220,000 $104,286

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 31 $1,665,000 $53,710
    Single Family (1-4 Units):Site-Built 67 $8,555,000 $127,687

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bedford Loan & Deposit Bank 1010 New Moody Lane Lagrange, KY 40031 Full Service B&M $25,930
    Bedford Loan & Deposit Bank 45 Highway 42 East Bedford, KY 40006 Full Service B&M $35,973
    Bedford Loan & Deposit Bank 973 Pendleton Road Pendleton, KY 40055 Full Service B&M $12,005

    For 2018, Bedford Loan & Deposit Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $3,789
    Net interest income $3,318
    Total noninterest income $687
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $361
    Trading account gains and fees $0
    Additional Noninterest Income $326
    Pre-tax net operating income $804
    Securities gains (or losses, -) $0
    Income before extraordinary items $767
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $767
    Minority interest net income $0
    Net income $767
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $767

    Bedford Loan & Deposit Bank's gross interest income from loans was $3,789,000.
    Bedford Loan & Deposit Bank's net interest income from loans was $3,318,000.
    Bedford Loan & Deposit Bank's fee based income from loans was $361,000.
    Bedford Loan & Deposit Bank's net income from loans was $767,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $471
    Provision for credit losses $29
    Total noninterest expense $3,172
    Salaries and employee benefits $1,628
    Premises and equipment expense $353
    Additional noninterest expense $1,191
    Applicable income taxes $37
    Net charge-offs $30
    Cash dividends $170

    Bedford Loan & Deposit Bank's interest expense for loans was $471,000.
    Bedford Loan & Deposit Bank's payroll and benefits expense were $1,628,000.
    Bedford Loan & Deposit Bank's property, plant and equipment expenses $353,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 3.0%
    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $74,565
    Deposits held in domestic offices $74,565
    Deposits by Individuals, partnerships, and corporations $60,541
    Deposits by U.S. Government $51
    Deposits by States and political subdivisions in the U.S. $13,973
    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 $35,199
    Demand deposits $17,644
    Nontransaction accounts $39,366
    Money market deposit accounts (MMDAs) $5,439
    Other savings deposits (excluding MMDAs) $11,511
    Total time deposits $22,415
    Total time and savings deposits $56,921
    Noninterest-bearing deposits $17,644
    Interest-bearing deposits $56,921
    Retail deposits $72,388
    IRAs and Keogh plan accounts $6,145
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $94,097
    Cash & Balances due from depository institutions $1,941
    Interest-bearing balances $116
    Total securities $30,135
    Federal funds sold & reverse repurchase $5,203
    Net loans and leases $52,646
    Loan and leases loss allowance $890
    Trading account assets $0
    Bank premises and fixed assets $1,828
    Other real estate owned $85
    Goodwill and other intangibles $0
    All other assets $2,259

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $94,096
    Total Liabilities $81,454
    Total deposits $74,565
    Interest-bearing deposits $56,921
    Deposits held in domestic offices $74,565
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,534
    Subordinated debt $0
    All other liabilities $355

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $52,646
    Loan and leases loss allowance $890
    Total loans and leases (domestic) $53,536
    All real estate loans $43,471
    Real estate loans in domestic offices $43,471
    Construction and development loans $4,417
    Residential 1-4 family construction $1,330
    Other construction, all land development and other land $3,087
    Loans secured by nonfarm nonresidential properties $2,182
    Nonfarm nonresidential secured by owner-occupied properties $1,440
    Commercial real estate & other non-farm, non-residential $742
    Multifamily residential real estate $0
    1-4 family residential loans $30,557
    Farmland loans $6,315
    Loans held in foreign offices $0
    Farm loans $704
    Commercial and industrial loans $772
    To non-U.S. addressees $0
    Loans to individuals $8,590
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,915
    Other loans to individuals $6,675
    All other loans & leases $74
    Loans to foreign governments and official institutions $0
    Other loans $74
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $309
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $4
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Bedford Loan & Deposit Bank had $52,646,000 of loans outstanding in 2018. $43,471,000 of loans were in real estate loans. $4,417,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $30,557,000 of loans were in 1-4 family mortgage loans. $704,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,915,000 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 81 $2,182 $26,938
    Nonfarm, nonresidential loans - <$100k 81 $2,182 $26,938
    Commercial & Industrial, US addressed loans - <$1MM 30 $772 $25,733
    Commercial & Industrial, US addressed loans - <$100k 30 $772 $25,733
    Farmland loans - <$1MM 44 $5,014 $113,955
    Farmland loans - <$100k 20 $1,229 $61,450
    Farmland loans - $100-250k 18 $2,366 $131,444
    Farmland loans - $250k-1MM 6 $1,419 $236,500
    Agriculture operations loans - <$1MM 52 $704 $13,538
    Agriculture operations loans - <$100k 52 $704 $13,538