Horizon Community Bank Mortgage Rates, Fees & Info

LAKE HAVASU CITY, AZ

LEI: 549300HKYIM2UCUTQA05

Tax ID: 86-1035867

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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

    Horizon Community Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Horizon Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lake Havasu City, Phoenix, Las Vegas, Flagstaff, and Prescott Valley among others. We have data for 7 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.

    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

    128

    Origination Dollar Volume (All Markets)

    $31,950,000

    Employee count

    92

    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
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 109 $27,495,000 $252,248 $0 0.00%
    Outside of Metro Areas 10 $2,080,000 $208,000 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $1,465,000 $293,000 $0 0.00%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
    FLAGSTAFF, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Horizon Community Bank's top markets include Lake Havasu City, Phoenix, Las Vegas, Flagstaff, and Prescott Valley among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
  • California (FHA|USDA|VA)

    • 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.

    LA Financial Federal Credit Union
    Similarity Rank: 129
    WESTERN EXPRESS LENDING
    Similarity Rank: 2400
    Golden Empire Mortgage, Inc.
    Similarity Rank: 2520
    Glacier Bank
    Similarity Rank: 3731
    SUN AMERICAN MORTGAGE COMPANY
    Similarity Rank: 3857
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 4028
    KELLER MORTGAGE, LLC
    Similarity Rank: 4240
    SUN WEST MORTGAGE COMPANY, INC.
    Similarity Rank: 4508
    SOVEREIGN LENDING GROUP INCORPORATED
    Similarity Rank: 4620
    LADERA LENDING, INC.
    Similarity Rank: 4844

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 121 $30,105,000 $248,802 $0 0.00%
    VA 7 $1,845,000 $263,571 $0 0.00%

    For 2020, Horizon Community Bank's most frequently originated type of loan was Conventional, with 121 originations. Their 2nd most popular type was VA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 48 $11,980,000 $249,583 $0 0.00%
    Refi 42 $11,350,000 $270,238 $0 0.00%
    Cash Out Refi 38 $8,620,000 $226,842 $0 0.00%

    For 2020, Horizon Community Bank's most frequently cited loan purpose was Home Purchase, with 48 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 128 $31,950,000 $249,609 $0 0.00%

    For 2020, Horizon Community Bank's most frequently cited loan duration was Other, with 128 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 64 $17,960,000 $280,625 $0 0.00%
    $100k-200k 47 $7,115,000 $151,383 $0 0.00%
    $400k-600k 8 $4,060,000 $507,500 $0 0.00%
    $100,000 or less 6 $500,000 $83,333 $0 0.00%
    $600k-1MM 3 $2,315,000 $771,667 $0 0.00%

    2020 saw Horizon Community Bank place emphasis on $200k-400k loans with 64 originations, totaling $17,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 27 $5,465,000 $202,407 $0 0.00%
    $75k-100k 24 $6,660,000 $277,500 $0 0.00%
    $100k-150k 21 $5,095,000 $242,619 $0 0.00%
    $50k or less 20 $3,680,000 $184,000 $0 0.00%
    $150k-250k 15 $3,805,000 $253,667 $0 0.00%
    $250k+ 7 $4,075,000 $582,143 $0 0.00%

    Horizon Community Bank lent most frequently to those with incomes in the $50k-75k range, with 27 originations. The second most popular income band? $75k-100k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 128 $31,950,000 $249,609 $0 0.00%

    Horizon Community Bank lent most frequently to those with DTI ratios of Exempt%, with 128 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 116 $28,730,000 $247,672 $0 0.00%
    Not applicable 9 $2,355,000 $261,667 $0 0.00%
    Asian Indian 1 $485,000 $485,000 $0 0.00%
    Not provided 2 $380,000 $190,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.00%

    Horizon Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.69%

    Horizon Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 128 $31,950,000 $249,609

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,045,000 $348,333
    Single Family (1-4 Units):Manufactured 8 $950,000 $118,750
    Single Family (1-4 Units):Site-Built 117 $29,955,000 $256,026

    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 $40,712
    Horizon Community Bank 225 N. Central Boulevard Quartzsite, AZ 85346 Full Service B&M $45,051
    Horizon Community Bank 225 North Lake Havasu Avenue Lake Havasu City, AZ 86403 Full Service B&M $209,885
    Horizon Community Bank 3156 E. Baseline Rd. Mesa, AZ 85204 Full Service B&M $58,380
    Horizon Community Bank 4155 Stockton Hill Road Kingman, AZ 86401 Full Service B&M $6,761
    Horizon Community Bank 5858 S. Highway 95 Mohave Valley, AZ 86440 Full Service B&M $38,151

    For 2020, Horizon Community Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,641
    Net interest income $15,647
    Total noninterest income $4,030
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $443
    Trading account gains and fees $0
    Additional Noninterest Income $3,587
    Pre-tax net operating income $4,962
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,917
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,917
    Minority interest net income $0
    Net income $3,917
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,917

    Horizon Community Bank's gross interest income from loans was $17,641,000.
    Horizon Community Bank's net interest income from loans was $15,647,000.
    Horizon Community Bank's fee based income from loans was $443,000.
    Horizon Community Bank's net income from loans was $3,917,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,994
    Provision for credit losses $930
    Total noninterest expense $13,785
    Salaries and employee benefits $8,353
    Premises and equipment expense $1,413
    Additional noninterest expense $4,019
    Applicable income taxes $1,045
    Net charge-offs $220
    Cash dividends $924

    Horizon Community Bank's interest expense for loans was $1,994,000.
    Horizon Community Bank's payroll and benefits expense were $8,353,000.
    Horizon Community Bank's property, plant and equipment expenses $1,413,000.

    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 $414,463
    Deposits held in domestic offices $414,463
    Deposits by Individuals, partnerships, and corporations $399,941
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $13,962
    Deposits by Commercial banks and other depository institutions in U.S. $560
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $209,305
    Demand deposits $138,110
    Nontransaction accounts $205,158
    Money market deposit accounts (MMDAs) $123,262
    Other savings deposits (excluding MMDAs) $21,774
    Total time deposits $60,123
    Total time and savings deposits $276,353
    Noninterest-bearing deposits $138,110
    Interest-bearing deposits $276,353
    Retail deposits $402,580
    IRAs and Keogh plan accounts $7,887
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $475,720
    Cash & Balances due from depository institutions $60,182
    Interest-bearing balances $51,834
    Total securities $103,558
    Federal funds sold & reverse repurchase $0
    Net loans and leases $289,040
    Loan and leases loss allowance $4,179
    Trading account assets $0
    Bank premises and fixed assets $9,130
    Other real estate owned $1,226
    Goodwill and other intangibles $0
    All other assets $12,584

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $475,720
    Total Liabilities $435,310
    Total deposits $414,463
    Interest-bearing deposits $276,353
    Deposits held in domestic offices $414,463
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $10,115
    Trading liabilities $0
    Other borrowed funds $5,500
    Subordinated debt $0
    All other liabilities $5,232

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $289,040
    Loan and leases loss allowance $4,179
    Total loans and leases (domestic) $293,219
    All real estate loans $203,379
    Real estate loans in domestic offices $203,379
    Construction and development loans $15,899
    Residential 1-4 family construction $1,862
    Other construction, all land development and other land $14,037
    Loans secured by nonfarm nonresidential properties $145,436
    Nonfarm nonresidential secured by owner-occupied properties $77,094
    Commercial real estate & other non-farm, non-residential $68,342
    Multifamily residential real estate $3,708
    1-4 family residential loans $37,698
    Farmland loans $638
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $90,106
    To non-U.S. addressees $0
    Loans to individuals $1,367
    Credit card loans $113
    Related Plans $426
    Consumer Auto Loans $43
    Other loans to individuals $785
    All other loans & leases $54
    Loans to foreign governments and official institutions $0
    Other loans $54
    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 $1,337
    Non 1-4 family restructured loans & leases $1,154
    Total loans and leases (foreign) $0

    HORIZON COMMUNITY BANK had $289,040,000 of loans outstanding in 2020. $203,379,000 of loans were in real estate loans. $15,899,000 of loans were in development loans. $3,708,000 of loans were in multifamily mortgage loans. $37,698,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $113,000 of loans were in credit card loans. $43,000 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 269 $63,830 $237,286
    Nonfarm, nonresidential loans - <$100k 39 $1,801 $46,179
    Nonfarm, nonresidential loans - $100-250k 93 $12,128 $130,409
    Nonfarm, nonresidential loans - $250k-1MM 137 $49,901 $364,241
    Commercial & Industrial, US addressed loans - <$1MM 751 $57,506 $76,573
    Commercial & Industrial, US addressed loans - <$100k 484 $14,199 $29,337
    Commercial & Industrial, US addressed loans - $100-250k 158 $15,517 $98,209
    Commercial & Industrial, US addressed loans - $250k-1MM 109 $27,790 $254,954