Jackson County Bank Mortgage Rates, Fees & Info

Seymour, IN

LEI: 549300HIDQ8IRRU12455

Tax ID: 35-0418300

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Jackson County Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Jackson County Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Seymour, Columbus, North Vernon, Indianapolis, and Bloomington among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Jackson County 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. Jackson County Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 3.56% 11/21/24
    30 Year Conventional Purchase 7.18% 11/21/24
    30 Year Conventional Refi 6.75% 11/21/24
    30 Year Cash-out Refi 7.16% 11/21/24
    30 Year USDA Purchase 7.51% 11/21/24
    15 Year Conventional Purchase 6.19% 11/21/24
    15 Year Conventional Refi 6.19% 11/21/24
    15 Year Cash-out Refi 6.19% 11/21/24
    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.

    Jackson County Bank Mortgage Calculator






    Your Estimates

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    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    775

    Origination Dollar Volume (All Markets)

    $143,875,000

    Employee count

    143 Show all (5) awards

    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
    Seymour, IN (FHA|USDA|VA) 258 $43,230,000 $167,558 $2,275 3.10%
    COLUMBUS, IN (FHA|USDA|VA) 186 $37,620,000 $202,258 $2,271 3.14%
    North Vernon, IN (FHA|USDA|VA) 99 $17,525,000 $177,020 $2,422 3.12%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 65 $15,835,000 $243,615 $2,753 3.33%
    BLOOMINGTON, IN (FHA|USDA|VA) 44 $10,460,000 $237,727 $2,573 3.42%
    Bedford, IN (FHA|USDA|VA) 46 $5,310,000 $115,435 $2,414 3.05%
    Greensburg, IN (FHA|USDA|VA) 30 $4,650,000 $155,000 $2,567 3.15%
    Outside of Metro Areas 16 $2,940,000 $183,750 $2,479 3.37%
    Scottsburg, IN (FHA|USDA|VA) 13 $1,905,000 $146,538 $2,515 3.23%
    Madison, IN (FHA|USDA|VA) 7 $1,505,000 $215,000 $2,835 3.88%
    Crawfordsville, IN (FHA|USDA|VA) 1 $765,000 $765,000 $0 4.00%
    Wabash, IN (FHA|USDA|VA) 1 $675,000 $675,000 $0 4.00%
    LOUISVILLE, KY (FHA|USDA|VA) 5 $525,000 $105,000 $2,130 2.70%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $500,000 $250,000 $2,609 3.19%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $265,000 $265,000 $2,266 3.25%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $165,000 $165,000 $2,303 3.25%
    Jackson County Bank's top markets include Seymour, Columbus, North Vernon, Indianapolis, and Bloomington among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Jackson County Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The Riddell National Bank
    Similarity Rank: 252
    Mutual Savings Bank
    Similarity Rank: 264
    Independent Federal Credit Union
    Similarity Rank: 560
    MORTGAGE MASTERS OF INDIANA, INC.
    Similarity Rank: 675
    Madison County Federal Credit Union
    Similarity Rank: 784
    The Peoples State Bank
    Similarity Rank: 1375
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1690
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 1919
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1980
    The National Bank of Indianapolis
    Similarity Rank: 2445

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 757 $141,275,000 $186,625 $2,345 3.17%
    USDA 18 $2,600,000 $144,444 $3,470 3.10%

    For 2021, Jackson County Bank's most frequently originated type of loan was Conventional, with 757 originations. Their 2nd most popular type was USDA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 338 $71,880,000 $212,663 $2,669 3.38%
    Refi 225 $36,045,000 $160,200 $2,129 2.85%
    Cash Out Refi 195 $33,705,000 $172,846 $2,228 3.13%
    Home Improvement 9 $1,145,000 $127,222 $2,166 3.82%
    Other 8 $1,100,000 $137,500 $2,187 3.16%

    For 2021, Jackson County Bank's most frequently cited loan purpose was Home Purchase, with 338 originations. The 2nd most popular reason was Refi, with 225 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 502 $94,100,000 $187,450 $2,468 3.30%
    15 Year 120 $17,360,000 $144,667 $2,060 2.49%
    20 Year 54 $8,750,000 $162,037 $2,112 3.01%
    10 Year 42 $3,690,000 $87,857 $2,052 2.56%
    5 Year 28 $12,530,000 $447,500 $0 4.12%
    30+ year 14 $3,790,000 $270,714 $4,025 4.10%
    Other 14 $2,890,000 $206,429 $1,931 3.66%
    1 Year 1 $765,000 $765,000 $0 4.00%

    For 2021, Jackson County Bank's most frequently cited loan duration was 30 Year, with 502 originations. The 2nd most popular length was 15 Year, with 120 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 561 $93,005,000 $165,784
    $1k-2k 99 $25,735,000 $259,949
    $2k-3k 6 $1,730,000 $288,333
    $3k-4k 2 $400,000 $200,000
    $4k-5k 1 $175,000 $175,000
    $5k+ 1 $515,000 $515,000

    Jackson County Bank's average total fees were $2,468, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 561 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 364 $75,580,000 $207,637
    2.5-3% 220 $38,940,000 $177,000
    <2.5% 128 $16,670,000 $130,234
    4-5% 60 $12,550,000 $209,167
    5-6% 3 $135,000 $45,000

    During 2021, Jackson County Bank's average interest rate for loans was 3.30%, while their most frequently originated rate bucket for loans was 3-4%, with 364 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 346 $50,040,000 $144,624 $2,272 3.14%
    $200k-400k 218 $57,800,000 $265,138 $2,567 3.23%
    $100,000 or less 173 $12,595,000 $72,803 $2,054 3.05%
    $400k-600k 27 $13,125,000 $486,111 $3,661 3.42%
    $600k-1MM 9 $7,035,000 $781,667 $4,612 3.83%
    $1MM+ 2 $3,280,000 $1,640,000 $0 4.13%

    2021 saw Jackson County Bank place emphasis on $100k-200k loans with 346 originations, totaling $50,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 226 $35,980,000 $159,204 $2,367 3.16%
    $50k or less 182 $20,290,000 $111,484 $2,184 3.04%
    $75k-100k 138 $26,830,000 $194,420 $2,294 3.10%
    $100k-150k 129 $28,615,000 $221,822 $2,565 3.15%
    $150k-250k 46 $12,970,000 $281,957 $2,850 3.17%
    $250k+ 14 $5,250,000 $375,000 $3,244 3.31%

    Jackson County Bank lent most frequently to those with incomes in the $50k-75k range, with 226 originations. The second most popular income band? $50k or less, with 182 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 190 $30,990,000 $163,105 $2,279 3.02%
    30-36% 160 $28,580,000 $178,625 $2,364 3.13%
    <20% 99 $13,695,000 $138,333 $2,277 2.94%
    36% 25 $3,775,000 $151,000 $2,260 3.45%
    40% 24 $4,800,000 $200,000 $2,576 3.30%
    43% 23 $4,535,000 $197,174 $2,543 3.22%
    39% 23 $3,545,000 $154,130 $2,296 3.27%
    41% 22 $3,860,000 $175,455 $2,407 3.04%
    42% 21 $4,265,000 $203,095 $2,661 3.35%
    45% 21 $4,615,000 $219,762 $2,418 3.02%
    38% 20 $4,330,000 $216,500 $2,573 3.35%
    37% 19 $3,705,000 $195,000 $2,442 3.14%
    44% 18 $2,980,000 $165,556 $2,644 3.26%
    46% 16 $2,970,000 $185,625 $2,361 3.16%
    47% 16 $3,490,000 $218,125 $3,055 3.22%
    48% 13 $1,945,000 $149,615 $2,155 3.14%
    49% 10 $2,470,000 $247,000 $2,282 3.16%
    50-60% 7 $1,855,000 $265,000 $3,017 3.18%
    >60% 3 $1,195,000 $398,333 $3,479 3.21%

    Jackson County Bank lent most frequently to those with DTI ratios of 20-30%, with 190 originations. The next most common DTI ratio? 30-36%, with 160 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 696 $122,470,000 $175,963 $2,367 3.12%
    Not applicable 34 $13,190,000 $387,941 $0 4.14%
    Not provided 29 $4,875,000 $168,103 $2,461 3.08%
    Asian 12 $2,310,000 $192,500 $2,385 3.11%
    Black 4 $1,030,000 $257,500 $3,275 3.81%

    Approval Rates

    Total approvals of all applications
    90.06%

    Jackson County Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.87%

    Jackson County Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 775 $143,875,000 $185,645

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    775 $143,875,000 $185,645

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 65 $6,225,000 $95,769 $2,098 2.73%
    40-60% 161 $25,685,000 $159,534 $2,154 2.88%
    60-80% 344 $71,150,000 $206,831 $2,382 3.30%
    80-100% 194 $39,980,000 $206,082 $2,679 3.32%
    Under 20% 11 $835,000 $75,909 $1,880 2.95%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Jackson County Bank 108 West Commerce Street Brownstown, IN 47220 Full Service B&M $33,513
    Jackson County Bank 1181 West Tipton Street Seymour, IN 47274 Full Service Retail $9,118
    Jackson County Bank 1200 East Tipton Street Seymour, IN 47274 Full Service B&M $45,439
    Jackson County Bank 125 South Chestnut Street Seymour, IN 47274 Full Service B&M $341,912
    Jackson County Bank 1280 North College Avenue Suite 4 Bloomington, IN 47404 Full Service B&M $7,026
    Jackson County Bank 2635 West 16th Street Bedford, IN 47421 Full Service B&M $51,544
    Jackson County Bank 2761 Central Avenue Columbus, IN 47201 Full Service B&M $54,321
    Jackson County Bank 3880 West Jonathan Moore Pike Columbus, IN 47201 Full Service B&M $27,777
    Jackson County Bank 400 Washington Street Columbus, IN 47203 Full Service B&M $18,829
    Jackson County Bank 611 A North State Street North Vernon, IN 47265 Full Service B&M $8,108

    For 2021, Jackson County Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,221
    Net interest income $21,034
    Total noninterest income $11,988
    Gross Fiduciary activities income $1,458
    Service charges on deposit accounts $797
    Trading account gains and fees $0
    Additional Noninterest Income $9,733
    Pre-tax net operating income $9,716
    Securities gains (or losses, -) $326
    Income before extraordinary items $8,332
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,332
    Minority interest net income $0
    Net income $8,332
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,061

    Jackson County Bank's gross interest income from loans was $24,221,000.
    Jackson County Bank's net interest income from loans was $21,034,000.
    Jackson County Bank's fee based income from loans was $797,000.
    Jackson County Bank's net income from loans was $8,332,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,187
    Provision for credit losses $0
    Total noninterest expense $23,306
    Salaries and employee benefits $13,155
    Premises and equipment expense $2,071
    Additional noninterest expense $8,080
    Applicable income taxes $1,710
    Net charge-offs $-148
    Cash dividends $1,800

    Jackson County Bank's interest expense for loans was $3,187,000.
    Jackson County Bank's payroll and benefits expense were $13,155,000.
    Jackson County Bank's property, plant and equipment expenses $2,071,000.

    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 $651,824
    Deposits held in domestic offices $651,824
    Deposits by Individuals, partnerships, and corporations $502,154
    Deposits by U.S. Government $37
    Deposits by States and political subdivisions in the U.S. $149,633
    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 $161,027
    Demand deposits $81,115
    Nontransaction accounts $490,797
    Money market deposit accounts (MMDAs) $200,750
    Other savings deposits (excluding MMDAs) $209,603
    Total time deposits $80,444
    Total time and savings deposits $570,709
    Noninterest-bearing deposits $143,555
    Interest-bearing deposits $508,269
    Retail deposits $632,817
    IRAs and Keogh plan accounts $16,830
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $780,440
    Cash & Balances due from depository institutions $113,016
    Interest-bearing balances $97,774
    Total securities $115,282
    Federal funds sold & reverse repurchase $7,020
    Net loans and leases $503,338
    Loan and leases loss allowance $5,761
    Trading account assets $704
    Bank premises and fixed assets $10,989
    Other real estate owned $0
    Goodwill and other intangibles $5,836
    All other assets $24,255

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $780,440
    Total Liabilities $709,879
    Total deposits $651,824
    Interest-bearing deposits $508,269
    Deposits held in domestic offices $651,824
    % insured (estimated) $62
    Federal funds purchased and repurchase agreements $4,324
    Trading liabilities $704
    Other borrowed funds $47,000
    Subordinated debt $0
    All other liabilities $6,027

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $503,338
    Loan and leases loss allowance $5,761
    Total loans and leases (domestic) $509,099
    All real estate loans $454,307
    Real estate loans in domestic offices $454,307
    Construction and development loans $50,993
    Residential 1-4 family construction $6,867
    Other construction, all land development and other land $44,126
    Loans secured by nonfarm nonresidential properties $193,935
    Nonfarm nonresidential secured by owner-occupied properties $82,521
    Commercial real estate & other non-farm, non-residential $111,414
    Multifamily residential real estate $20,116
    1-4 family residential loans $175,810
    Farmland loans $13,453
    Loans held in foreign offices $0
    Farm loans $793
    Commercial and industrial loans $34,620
    To non-U.S. addressees $0
    Loans to individuals $5,874
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $5,874
    All other loans & leases $13,505
    Loans to foreign governments and official institutions $0
    Other loans $199
    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 $889
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Jackson County Bank had $503,338,000 of loans outstanding in 2021. $454,307,000 of loans were in real estate loans. $50,993,000 of loans were in development loans. $20,116,000 of loans were in multifamily mortgage loans. $175,810,000 of loans were in 1-4 family mortgage loans. $793,000 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 202 $56,858 $281,475
    Nonfarm, nonresidential loans - <$100k 27 $1,470 $54,444
    Nonfarm, nonresidential loans - $100-250k 63 $9,180 $145,714
    Nonfarm, nonresidential loans - $250k-1MM 112 $46,208 $412,571
    Commercial & Industrial, US addressed loans - <$1MM 174 $19,314 $111,000
    Commercial & Industrial, US addressed loans - <$100k 105 $3,117 $29,686
    Commercial & Industrial, US addressed loans - $100-250k 40 $5,353 $133,825
    Commercial & Industrial, US addressed loans - $250k-1MM 29 $10,844 $373,931
    Farmland loans - <$1MM 19 $3,150 $165,789
    Farmland loans - <$100k 4 $271 $67,750
    Farmland loans - $100-250k 8 $840 $105,000
    Farmland loans - $250k-1MM 7 $2,039 $291,286
    Agriculture operations loans - <$1MM 2 $271 $135,500
    Agriculture operations loans - <$100k 1 $4 $4,000
    Agriculture operations loans - $250k-1MM 1 $267 $267,000