Horizon Community Bank Mortgage Rates, Fees & Info
LAKE HAVASU CITY, AZLEI: 549300HKYIM2UCUTQA05
Tax ID: 86-1035867
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Mortgage Data
Bank Data
Review & Overview
Horizon Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Horizon Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lake Havasu City, Phoenix, Los Angeles, San Luis Obispo, and Flagstaff among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Horizon Community Bank 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.
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Originations
101Origination Dollar Volume (All Markets)
$26,325,000Employee count
96Top 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 |
|---|---|---|---|---|---|
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 87 | $20,705,000 | $237,989 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 7 | $3,615,000 | $516,429 | $0 | 0.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $685,000 | $685,000 | $0 | 0.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| Payson, AZ (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) | 2 | $170,000 | $85,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $115,000 | $115,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against HORIZON COMMUNITY BANK based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 85 | $22,795,000 | $268,176 | $0 | 0.00% |
| VA | 16 | $3,530,000 | $220,625 | $0 | 0.00% |
For 2019, Horizon Community Bank's most frequently originated type of loan was Conventional, with 85 originations. Their 2nd most popular type was VA, with 16 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 58 | $14,030,000 | $241,897 | $0 | 0.00% |
| Refi | 42 | $12,070,000 | $287,381 | $0 | 0.00% |
| Cash Out Refi | 1 | $225,000 | $225,000 | $0 | 0.00% |
For 2019, Horizon Community Bank's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Refi, with 42 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 101 | $26,325,000 | $260,644 | $0 | 0.00% |
For 2019, Horizon Community Bank's most frequently cited loan duration was Other, with 101 originations.
Loan Sizing
2019 saw Horizon Community Bank place emphasis on $200k-400k loans with 49 originations, totaling $13,295,000 in origination value.
Applicant Income
Horizon Community Bank lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $50k or less, with 19 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.27%
Horizon Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination61.39%
Horizon Community Bank 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 |
|---|---|---|---|
| NA | 101 | $26,325,000 | $260,644 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Horizon Community Bank | 101 Retail Center Blvd. Lake Havasu City, AZ 86403 | Full Service B&M | $0 |
| Horizon Community Bank | 1017 California Avenue Parker, AZ 85344 | Full Service B&M | $34,970 |
| Horizon Community Bank | 225 N. Central Boulevard Quartzsite, AZ 85346 | Full Service B&M | $41,000 |
| Horizon Community Bank | 225 North Lake Havasu Avenue Lake Havasu City, AZ 86403 | Full Service B&M | $152,873 |
| Horizon Community Bank | 3156 E. Baseline Rd. Mesa, AZ 85204 | Full Service B&M | $37,235 |
| Horizon Community Bank | 5858 S. Highway 95 Mohave Valley, AZ 86440 | Full Service B&M | $23,356 |
For 2019, Horizon Community Bank had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $16,729 |
| Net interest income | $13,595 |
| Total noninterest income | $4,174 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $504 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,670 |
| Pre-tax net operating income | $3,964 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,083 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,083 |
| Minority interest net income | $0 |
| Net income | $3,083 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,083 |
Horizon Community Bank's gross interest income from loans was $16,729,000.
Horizon Community Bank's net interest income from loans was $13,595,000.
Horizon Community Bank's fee based income from loans was $504,000.
Horizon Community Bank's net income from loans was $3,083,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,134 |
| Provision for credit losses | $494 |
| Total noninterest expense | $13,311 |
| Salaries and employee benefits | $8,359 |
| Premises and equipment expense | $1,346 |
| Additional noninterest expense | $3,606 |
| Applicable income taxes | $881 |
| Net charge-offs | $75 |
| Cash dividends | $924 |
Horizon Community Bank's interest expense for loans was $3,134,000.
Horizon Community Bank's payroll and benefits expense were $8,359,000.
Horizon Community Bank's property, plant and equipment expenses $1,346,000.
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 | 1.0% |
| 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 | $297,707 |
| Deposits held in domestic offices | $297,707 |
| Deposits by Individuals, partnerships, and corporations | $288,346 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $9,120 |
| Deposits by Commercial banks and other depository institutions in U.S. | $241 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $133,369 |
| Demand deposits | $82,099 |
| Nontransaction accounts | $164,338 |
| Money market deposit accounts (MMDAs) | $83,535 |
| Other savings deposits (excluding MMDAs) | $15,797 |
| Total time deposits | $65,006 |
| Total time and savings deposits | $215,608 |
| Noninterest-bearing deposits | $82,099 |
| Interest-bearing deposits | $215,608 |
| Retail deposits | $286,172 |
| IRAs and Keogh plan accounts | $8,160 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $341,423 |
| Cash & Balances due from depository institutions | $46,929 |
| Interest-bearing balances | $39,788 |
| Total securities | $27,822 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $245,871 |
| Loan and leases loss allowance | $3,469 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,789 |
| Other real estate owned | $1,601 |
| Goodwill and other intangibles | $0 |
| All other assets | $10,411 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $341,423 |
| Total Liabilities | $310,815 |
| Total deposits | $297,707 |
| Interest-bearing deposits | $215,608 |
| Deposits held in domestic offices | $297,707 |
| % insured (estimated) | $78 |
| Federal funds purchased and repurchase agreements | $1,927 |
| Trading liabilities | $0 |
| Other borrowed funds | $6,500 |
| Subordinated debt | $0 |
| All other liabilities | $4,681 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $245,871 |
| Loan and leases loss allowance | $3,469 |
| Total loans and leases (domestic) | $249,340 |
| All real estate loans | $193,310 |
| Real estate loans in domestic offices | $193,310 |
| Construction and development loans | $17,765 |
| Residential 1-4 family construction | $2,964 |
| Other construction, all land development and other land | $14,801 |
| Loans secured by nonfarm nonresidential properties | $130,950 |
| Nonfarm nonresidential secured by owner-occupied properties | $73,348 |
| Commercial real estate & other non-farm, non-residential | $57,602 |
| Multifamily residential real estate | $4,355 |
| 1-4 family residential loans | $39,549 |
| Farmland loans | $691 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $56,046 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $965 |
| Credit card loans | $110 |
| Related Plans | $60 |
| Consumer Auto Loans | $54 |
| Other loans to individuals | $741 |
| All other loans & leases | $53 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $53 |
| 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 | $1,493 |
| Non 1-4 family restructured loans & leases | $1,300 |
| Total loans and leases (foreign) | $0 |
HORIZON COMMUNITY BANK had $245,871,000 of loans outstanding in 2019. $193,310,000 of loans were in real estate loans. $17,765,000 of loans were in development loans. $4,355,000 of loans were in multifamily mortgage loans. $39,549,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $110,000 of loans were in credit card loans. $54,000 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 | 246 | $54,471 | $221,427 |
| Nonfarm, nonresidential loans - <$100k | 46 | $2,142 | $46,565 |
| Nonfarm, nonresidential loans - $100-250k | 81 | $10,197 | $125,889 |
| Nonfarm, nonresidential loans - $250k-1MM | 119 | $42,132 | $354,050 |
| Commercial & Industrial, US addressed loans - <$1MM | 237 | $25,540 | $107,764 |
| Commercial & Industrial, US addressed loans - <$100k | 100 | $2,985 | $29,850 |
| Commercial & Industrial, US addressed loans - $100-250k | 80 | $7,064 | $88,300 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 57 | $15,491 | $271,772 |